Reply to Family budget if your income is around $180-200K

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[quote=Anonymous]I live in Center City Philly (32 yrs old, wife is 29, no kids), and this forum was is very interesting read.  I think the one big difference in my budget is my wife's graduate student loan debt, which adds on to my undergrad loans.  Here is our rundown:

$195k, 9% 401(k) and a company 9% match:

Rent: $1,990 (includes water and a gym)
Cars: $440 (1 lien, insurance, registrations, inspections/maintenance, etc.) 
Gas/Parking/SEPTA: $460
Student Loans: $2,277
Utilities: $180 (work pays for my cell & iPad wireless)
Health: $415 (insurance, dental, FSA)
Travel: $625
Food: $800 (groceries, but mainly going out in the city)
Retail: $600 (gifts, clothing, etc.)
Misc: $200
ESPP: $1,000 (I get a 15% discount on company stock and sell every quarter; goes into savings)

Rental Mortgage: $1,552
Rental Income: -$1,730
Rental Expenses: $150

That leaves about another $1,400 which can go right into savings.

I guess I am just a little nervous getting ready to start having kids.  Probably means going out less, but will probably have to get a bigger apt.  We DO NOT want to move to the suburbs.  I'm sure we can make it work, my student loads will start going away.  I am still diversified in real estate by having tenants and can live in the city where it makes us happy.  Has anyone heard of others who buy a place, but live/rent elsewhere to afford their lifestyle and still have a large asset paid off by retirement?

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