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Money and Finances
Reply to "Family budget if your income is around $180-200K"
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[quote=Anonymous]We spend about $120k (after taxes), living in DC with 1 toddler: Housing (includes PITI, utilities, and a repair/maintenance budget): $40k Daycare: $20k Student loans: $5k Groceries: $8k Medical insurance and expenses: $6k Life insurance: $1k Cell phones: $2k Comcast: $2k Restaurants: $10k Travel: $10k Clothes and merchandise: $6k Entertainment/miscellaneous: $13k This budget would be doable on $200k gross income. You could afford to max out 2 401ks ($36k). Assuming a 25% effective tax rate, you'd have something like $125k after taxes and 401k. So that leaves $5k per year for savings such as a 529. If you cut a couple grand from our ample restaurant and entertainment/miscellaneous budgets, you could save even more. [/quote]
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