Reply to How do you make ends meet on 130k?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. To clarify, I got back to work next month.  I have interviews and just need to let the hiring process work.  Childcare is necessary when I am working.  I am hoping for 70K starting out--if I can get to 80 that would be awesome  but I think I will be lucky to start out at 70.  So our income is going to go up substantially in a month.  I can work while finishing the last requirements of my grad degree, which was fully funded with a good stipend until I had kids.

I double checked with our take home and that is what it is. I thought it was odd too to be honest with you.

All of this advice is good and I am hopeful we can get back on our feet again.
[/quote]

How much of a tax return did you get last year?  Presumably it was pretty large with that mortgage and two dependents.  I would add your refund back into your monthly income or, even better, reconfigure your withholdings.

I assume you're using a dependent care FSA?  If so, that's coming out of your gross pay so, for budget purposes, you should add that back in as income ($400 a month).[/quote]

You can't use the dependent care FSA if both parents aren't working.

[/quote]

I'm not sure that's right.

http://www.ebcflex.com/Menu/Resources/NewsCenter/tabid/1142/ArticleID/413/12-Things-You-Didn%E2%80%99t-Know-About-the-Dependent-Care-FSA.aspx

Although, I'm not finding support for that position in the IRS pubs although they do treat going to school full time as having "earning income."[/quote]

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