Reply to Sad, just had to cease contributions to my 401K in order to budget in daycare costs for new baby :(

Forum Index » Money and Finances

Reply to "Sad, just had to cease contributions to my 401K in order to budget in daycare costs for new baby :("

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm also curious what you could be spending on. At 140,000 you should absolutely be able to do both.  We pay $1,600 a month for one kid in daycare, nearly $2,000 for piti, and more than 1500 in student loan repayment on a dual income total of 127,000.  We still each save between 7-10% for retirement and put $2,000 a year into 529.[/quote]

OP here, our mortgage is $2,800/mo. We also have a mortgage for land we bought in the mountains back when my husband's business was doing really well, which is another $1,200/mo.  I really wish we never bought that, but at least both mortgages will be paid off in 9 years.  We have a car payment of $350.  Life insurance policies are $160/mo, parking for my work is $290/mo, and DH spends about $500/mo in gas because for work, he drives around all day long, etc..  I feel like when you look at our $140K income, it seems like a lot, but when you take out all the income tax, self employment tax, health insurance, business bonding and insurance, etc. it's whittled down so much.

We never eat out, I think we've eaten out maybe twice in the past year.  We haven't gone to the movies in many years.  We barely spend anything on "entertainment".  [/quote]

Woah, 4K a month in mortgages?  That is your problem right there.[/quote]

Yeah, I know. :(  If I could go back in time....[/quote]
if you only have 9 years left to pay - it might make sense to refi at least primary residence. Yes, it will increase the length of the loan, but might help you with cash flow by lowering monthly payments. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics