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

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[quote=Anonymous]Why no vacation?!?  Vacation does not need to be expensive.  We go together with my parents or in-laws, and it is really not that much going to NC or SC.  It is really about recharging.

No renovation?  That is fine.  We only spend money to make sure things do not break down, i.e. replacing a leaky roof.

[quote=Anonymous][quote=Anonymous][quote=Anonymous]Take home:  $10,100 (after 401k (15% contribution for each of us), health/dental ins,etc.)

3250  Mortgage
1600  Childcare
237     Student loan 1
151     Student loan 2
750     groceries
400     gas
250     electric
450     sinking fund for irregular bills (life insurance, etc)
210     cable/internet/phone
165     cells
50       water

This adds up to $7513.  The remaining money ($2587) is just miscellaneous expenses, not bills.  We have around $85K in a liquid emergency fund, so we don't have a line item for savings right now, although when child care expenses drop, we will go back to saving.[/quote]

Wow--how do you have $85K in a liquid emergency fund on that salary?  That's impressive. [/quote]

I used to make a lot more when I was in biglaw, but now that I think about it, the majority of that 85K was accrued after I left biglaw.  We just really prioritize savings....no car notes, no credit card debt, no vacations, no new furniture, no house renos.  Which sounds depressing but it was a godsend when biglaw laid me off.  [/quote][/quote]

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