Reply to Support a family of 4 on $55k/year

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[quote=Anonymous][quote=Anonymous]

We make approx $180K and take home $8600 a month - we have enough for our expenses but not much to save. Here's a breakdown.

$2260 - mortgage
$2260 - child care for 2
$1000 - student loans (should go down to $800 next month)
[b]$1000 - food (with coupons)[/b]
$ 500 - utilities (power, gas, cable/internet, cell phones)
$ 185 - life insurances
$ 135 - car insurance (2 cars)
$ 200 - gas/parking/metro (driving to/from downtown from SS daily)
[b]$ 300 - housekeeper (my primary splurge but the stress she relives is priceless and marriage counseling would cost more)[/b]
[b]$ 300 - charity[/b]
[b]$ 100 - gym[/b]
$  50 - dr/prescriptions

So that leaves approx $500 for clothing, weekend activities, car repairs, vacation savings, shopping, etc.

I am NOT complaining. I actually think we have a great life and are very lucky to have the things we have, but money does go pretty quickly.

I know people who make it work on much lower salaries and I think its incredible.

[/quote]

So, all of the bolded things are splurges.  While I understand that keeping Kosher is more expensive, entertaining more than once per month is not a necessity.  It's a splurge.  By my estimate, you could probably save $500-1000 more per month if you chose to.  That you think those are necessities that are must haves to avoid saving anything for emergencies, life happens or college funds is a choice you make that many of us would not.  You have the disposable income to spend how you want it, but you should not be counting yourself as struggling to get by on $180K.  As you note, you are living pretty well.

The original PP said she was struggling to get by on $180K and essentially living paycheck to paycheck.  That's just ridiculous.[/quote]

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