Reply to Afford $1.8M on 300K?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our HHI is $300K and we live in a low cost area and our mortgage is only $2,000 a month and I can say we live a lavish lifestyle.

We eat out once a week. [b]We can’t afford 15K vacations.[/b]  [b]We have to save to buy some furniture.  [/b]Just groceries are about 2K a month.

We spurge $24K a year on DC for a private school.

I can’t imagine having 9K mortgage. That would make us poor.[/quote]

Good grief what are your expenses? You sound like you have a lot of bills.[/quote]

Here is our monthly budget after from net income after 10% is put away into 401k:

$1,000 new car savings (we pay cash for our cars)
$1,000 vacation savings
$2,000 college savings  
$2,000 private school tuition

$2,000 mortgage
$500 utilities

$500 car gas

$2,000 groceries, pet food, and home supplies
$100 dining out

$1,000 kid expenses (sports, tutors, camps, books, clothes, shoes, etc)

$400 my personal expenses (clothes, shoes, entertainment, gym, personal care products, etc.)

$400 DH's personal expenses

$300 house cleaning

$200 phones

$200 charity

$1,500 we save for various once a year or  expenses (HOA, car insurance, gifts, medical copays, yard maintenance, car repairs, vet, rainy day fund)

This is $16,000. Like I said, we don't live lavishly.
[/quote]

Most of that stuff is fine.  However, I question $200 for phones.  I spend $15 a month and so does my wife for cell service.  We spend about $50 per year on phone hardware each (average cost to replace a phone every 3-5 years with trade in).

$500 car gas seems excessive.  Buy smaller cars or hybrid.

[/quote]

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