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

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[quote=Anonymous]Dang, some of you have really low mortgages. We splurged a bit but bought a long term home that made spending the extra money worth it. Don't need to worry about major repairs, upgrades or additions, but I'm certainly jealous of your note.

HHI of $9800/month after health insurance, flexible spending account, taxes, 401K and life insurance.

Our budget for our family of 4 consists of :

Mortgage - $3300
Utilities - $300
Verizon - $180
Childcare - $2000
College Savings - $500
Car Payments/Insurance - $900
Food/Household items (aka Costco) - $1400
Gas - $400 (hard to budget but a lot of our gas is reimbursed)

This leaves us about $1k a month for things like clothes, entertainment, weekend trips, and unforeseen costs (lawn mower died last month, for example). We are fortunate to receive decent bonuses twice a year which we put towards savings accounts and major purchases (new bedroom furniture last year, vacation next year). It works, and we certainly understand how privileged we are, but I'd be lying if I said we didn't feel super squeezed at times. I guess the more $ you make, the more expenses you tend to take on. The golden handcuffs!

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