Anonymous wrote:cut the housecleaner down to monthly.

sell one/both cars and buy something that's already 7 or 8 years old

cut the kid's activities/lessons. Any time you have one kid and you're simultaneously paying for "activities/lessons" and diapers in the same month, you're pissing money away.

you shouldn't be spending $200 monthly for cell phones.

I've more than solved your budget problem here already.

Agree with this. $200 a month on activities/lessons for a kid still in diapers?! And the car payments are super high. The one other thing that seems quite high and easy to cut is beauty/self care.

$850 / month on personal care and shopping that doesn't include household sundries.

$1200 / month on car payments

$300 / month on a cleaner

C'mon. Be serious. We take home about $12k / month and have:

$250 / month on personal care and shopping

$0 on car payments

$150 / month on cleaner

You're only struggling because you apparently want to struggle. Cutting within this budget seems obvious.

The cars alone are clearly a problem. What's the story there?

What kind of cars are those?

Anonymous wrote:

Anonymous wrote:how much are you saving for retirement? what's the balance in those pots, and how old are you?

DH is 37 - $450k in 401k
I'm 33 - $175k in 401k

We're both contributing 8% of income to those accounts to get full employer match

You're spending too much. You decide what to cut. I've given you several areas where you're wasting money.

Anonymous wrote:Hang tight, OP. I'm setting up a Go Fund Me page for you.

LOL obviously our next step

Hang tight, OP. I'm setting up a Go Fund Me page for you.

Home supplies seem high. At your income level you should be saving for cars and paying cash.

Anonymous wrote:how much are you saving for retirement? what's the balance in those pots, and how old are you?

DH is 37 - $450k in 401k
I'm 33 - $175k in 401k

We're both contributing 8% of income to those accounts to get full employer match

Those are huge sums on all of it, except the essentials. I can't imagine going through that kind of money. We'd be buying art, upgrading bathrooms, that sort of thing with the surplus. Unfortunately, my husband is a spender, not a saver, so very little getting invested.

Anonymous wrote:cut the housecleaner down to monthly.

sell one/both cars and buy something that's already 7 or 8 years old

cut the kid's activities/lessons. Any time you have one kid and you're simultaneously paying for "activities/lessons" and diapers in the same month, you're pissing money away.

you shouldn't be spending $200 monthly for cell phones.

I've more than solved your budget problem here already.

^^Also, if you have a nanny, WTF are you paying for P/T "preschool" for a diapered baby?

how much are you saving for retirement? what's the balance in those pots, and how old are you?

cut the housecleaner down to monthly.

sell one/both cars and buy something that's already 7 or 8 years old

cut the kid's activities/lessons. Any time you have one kid and you're simultaneously paying for "activities/lessons" and diapers in the same month, you're pissing money away.

you shouldn't be spending $200 monthly for cell phones.

I've more than solved your budget problem here already.

OP here to add we do both also have annual bonuses not included here that are currently covering our overage, but we'd love to earmark those for savings/education/travel instead of losing them to these day to day expenses...

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?

Nanny/PT Preschool for one child - $3k per month
Mortgage - $3100 per month
HOA Fee - $200 per month
Investment Property - $750 per month (what rent doesn't cover)
Home Insurance - $125 per month
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)
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)
Student Loans - $350 per month
Personal Care - $350 per month (hair cuts/color, waxing, nails)
House Cleaner - $300 per month
Lawn Care - $135 per month
Shopping (Clothing/Accessories/Home Decor) - $500 per month
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.