Reply to The balance: saving too little vs saving too much. AND Tesla

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. oh, I know what it feels like being under the microscope now.

Here is more information for those curious about our budget:

Income: 10,200 (after 401K, FSA, other deduction)
Condo Rent: 1760
Total:11,960

Mortgage (piti):4250
Condo expense:1300
daycare:2050
Roth IRA:917
529: 833
food:1000
utilities: 550 (include cell/internet)
car: 200 (insurance and gas)
entertainment: 200
clothing: 150
Total: 11450

There is 500 dollar left each month usually and bonus once an year (5k-10k). We do a big vacation with the money.

Yes the saving we have are a combination of what the in-laws gave us on the last couple of years and when we use to have less kids hence less daycare and 529 contribution.

I feel naked now!

[/quote]

OP, we have somewhat similar financials, though higher HHI ($280) and smaller mortgage ($3100), if a bit less from our rental property.  Plenty in savings/529 etc., plus we'll both have pensions.  We actually are springing for a Model X, after running the numbers every which way and realizing that we can totally afford it.  We don't tend to take big vacations, and if you figure the monthly payments will be ~$1,000/month or $12K/year, people easily spend that through various means we don't (travel, nannies, etc.).  We're fine with doing largely driving vacations, especially since we won't be paying for gas.  We just had our third kid and our current car is an elderly Prius, so needed something larger.

Just a word about the test drive: I agreed to it for my DH, thinking that would satiate him and then we could go get our Honda Odyssey.  Nope.  Only made him lust after the car more, and he's a hugely geeky engineer (and I'm a moderately geeky scientist), not a car guy.  But we're both excited about it and if this is our one extravagance, so be it.  I probably wouldn't do it in your case, unless you put enough down that you can cover it monthly--but I also like more of a cushion in my budget.  Wait for the Model Y, perhaps?[/quote]

You and the OP are major geeks...get a life both of you![/quote]

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