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[quote=Anonymous][quote=Anonymous]OP here. I'm not at all adverse to answering questions! I frankly don't know our budget. We probably live close to paycheck to paycheck, putting $ away for real estate taxes (@ $8k a year), etc. We own our cars.

We have sizable savings and investments (i didnt include amounts in our annual income) which are part of our inheritance, but DH doesn't want to use them for the renos. He wants to save up an additional amout for them.  He wants to keep the rainy day fund in tact, which I am fine with. What I don't want to do is wait many years until we've "saved up" for the renos when we could do them now under a low interest loan.

If he were to lose his job, we would likely sell the house and move elsewhere and I would work.

The improvements aren't life and death. I'm just tired of looking at my cramped 1980 kitchen and old appliances.  We have a weird indent in our kitchen and if we bumped it out to meet the rest of the house, we would nearly double the size. [/quote]

16:35 here.  I agree with your DH about not touching the inheritance for any reno.  I'm not surprised that you don't know your budget.  Lots of people don't know it.  But without a budget, you can't do a house project.  Not now and not later.  Calculate your spending for the past year and divide by 12.  Is the amount more or less than DH's monthly net income?  (Are you maxing DH's 401K?  If not, then do that, and re-calculate your monthly net income.)  Where could you cut right now?  What spending will increase in years to come?  I'll make it easier for you by giving you your budget lines.

Housekeeping/lawn care/repairs
Eleectric/gas/water/phone/tv/internet
Health co-pays/doctor bills/medication/glasses/therapies
Diapers/baby items
Groceries/coffee or meals out/alcohol/entertaining
Preschool/summer camp/lessons/memberships
Charitable giving
Car repair/gas/EZ pass/Metro/parking
Clothes/dry cleaning/hair/spa
Movies/going out/babysitting/gym fees
Presents/toys/music/books/crafting/photo
Travel

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