Reply to $14k net HHI - Budget Input

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[quote=Anonymous][quote=Anonymous]We are struggling to not overspend each month on a take home HHI of $14k per month (after retirement/taxes). I feel like (i know) this is ridiculous, so I'm looking for input from those with similar incomes on where we are spending more than average. And would also love to know how you cut back to spend less in those areas.

The way our average spending is coming in now we're in the hole about $600 more than we take in each month without savings (other than automatic to retirement), travel and any unexpected expenses. So something has to give. Obviously I know we could cut out things like the house cleaner that are optional. But I feel there must be other areas we're spending more than the norm we need to cut back on to get things under control.

Here is our average monthly spending by category - What looks out of whack to you with HHI of $14k per month?

[b]Nanny/PT Preschool for one child - $3k per month[/b]
[b]Mortgage - $3100 per month
HOA Fee - $200 per month[/b]
[b]Investment Property - $750 per month (what rent doesn't cover)
Home Insurance - $125 per month[/b]
Car Payments - $1200 per month (2 cars)
Car Insurance - $110 per month (2 cars)
Gas - $200 per month
Tolls - $35 per month
Groceries - $1k per month, family of 3 plus nanny (weekdays breakfast & lunch for her). Includes wine/beer and hello fresh for weeknight meals
Restaurants/Take Out - $500 per month (normally one 'nice' date night dinner and the rest inexpensive)
[b]Home Supplies - $650 per month (all the basics like toilet paper, paper towels, cat food/litter, shampoo, OTC meds, cosmetics, diapers, baby supplies, blah blah)[/b]
Student Loans - $350 per month 
[b]Personal Care - $350 per month (hair cuts/color, waxing, nails)[/b]
[b]House Cleaner - $300 per month[/b]
[b]Lawn Care - $135 per month[/b]
[b]Shopping (Clothing/Accessories/Home Decor) - $500 per month[/b]
Gifts - $200 per month
Work Lunch - $150 per month
Entertaining - $200 per month (having guests over/parties)
Kid's Activities/Lessons - $200 per month (swim class, music class, outings)
Doctor/Dentist - $150 per month 
Pharmacy/Medications - $100 per month
Water Bill - $100 ($300 every 3 months)
Gas Bill - $140 (in winter, much less in summer months)
Electric Bill - $200 
Cell Phones - $200
Pets - $100 earmarked per month for vet visits, meds etc every few months
Entertainment - $150 per month (going out for drinks/movies/etc)
Cash - $200
TOTAL ~ $14,600

The investment property seems like an obvious thing to cut but Husband wants to keep the investment property as we should be able to refinance that and charge more rent to have that monthly cost go away in the very near future. And all of that $$ we're paying is going towards principal on the mortgage for that property, and it's in a great location in arlington so will hold/increase value. 
[/quote]

Our HHI is nearly identical.  We save $8k a month from our $14k net.  Big differences are:  we have no childcare expenses, no investment property, our mortgage (plus HOA and insurance) is $2,000/mo, we spend about same on groceries an eating out (but the groceries total includes most of the household supplies).  That accounts for about $5,500 of the difference.  You spend a few hundred more in each category for personal care, lawn, cleaning, medications, cash.  We have the same car expenses.[/quote]

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