We're at $200k/year.

After taxes and retirement savings, it's about $8-9k per month (DH income varies slightly from mo to mo).

Mortgage-$2300/mo
Car payment -$450 (so we can pay off fast)
Groceries - $600
Cleaning lady - $240 for 2 cleanings/mo
529's for three kids - $750 per month total
Internet/cable - 130
Charity - 600/mo

The rest goes to living - utilities, gas, kids' activity fees, lunch at Chipotle, etc - and sometimes additional savings.

$205k dual HHI, no kids. 13% 401k collectively, company match 3-5%.

$9500 take home after taxes, retirement, insurances, FSA

$3200 mortgage/insurance/riders
$1500 student loans
$800 food (includes groceries/dining out/household goods)
$600 shopping/activities
$500 utilities/cable/internet/cell phones
$500 gas/insurance/parking/metro
$150 car payment (about $4k remaining, 1.8% interest)

$1500 cc payment (ran into some debt. about $12k remaining @ 5% interest)

Anything left goes into building up our EF/savings

I live in Center City Philly (32 yrs old, wife is 29, no kids), and this forum was is very interesting read. I think the one big difference in my budget is my wife's graduate student loan debt, which adds on to my undergrad loans. Here is our rundown:

$195k, 9% 401(k) and a company 9% match:

Rent: $1,990 (includes water and a gym)
Cars: $440 (1 lien, insurance, registrations, inspections/maintenance, etc.)
Gas/Parking/SEPTA: $460
Student Loans: $2,277
Utilities: $180 (work pays for my cell & iPad wireless)
Health: $415 (insurance, dental, FSA)
Travel: $625
Food: $800 (groceries, but mainly going out in the city)
Retail: $600 (gifts, clothing, etc.)
Misc: $200
ESPP: $1,000 (I get a 15% discount on company stock and sell every quarter; goes into savings)

Rental Mortgage: $1,552
Rental Income: -$1,730
Rental Expenses: $150

That leaves about another $1,400 which can go right into savings.

I guess I am just a little nervous getting ready to start having kids. Probably means going out less, but will probably have to get a bigger apt. We DO NOT want to move to the suburbs. I'm sure we can make it work, my student loads will start going away. I am still diversified in real estate by having tenants and can live in the city where it makes us happy. Has anyone heard of others who buy a place, but live/rent elsewhere to afford their lifestyle and still have a large asset paid off by retirement?

Anonymous wrote:

Anonymous wrote:We are at about $200k - 15% for 401k

Net about $10k

Mortgage $3600
Aftercare $400
Food $800
Savings $2000-2500
College $500
Activities/camps/insurance/vacations $815
Utilities $300
Misc $1000
Internet $77
Phones $100
Gas $150

I am sure I am forgetting something

you forgot to say how many kids, but given numbers trust only 1 right ? (or you need to tell me what I am doing wrong with my aftercare program )

2 kids - 10 and 14. Only 1 in aftercare right now. 1 in public, 1 in private (full scholarship).

I know what I forgot - CC debt payment of $250/month. 0% interest and should be gone soon.

Costco keeps the food budget really low - used to be over $1000/month.

Anonymous wrote:We are at about $200k - 15% for 401k

Net about $10k

Mortgage $3600
Aftercare $400
Food $800
Savings $2000-2500
College $500
Activities/camps/insurance/vacations $815
Utilities $300
Misc $1000
Internet $77
Phones $100
Gas $150

I am sure I am forgetting something

you forgot to say how many kids, but given numbers trust only 1 right ? (or you need to tell me what I am doing wrong with my aftercare program )

180k here. $8580 after healthcare/taxes/retirement. I'm putting 18k into retirement, not sure on DH, but I can't change his amounts (and I've nagged him to up it).

$2200 mortgage
$280 student loans
$500 food (no kids)
$250 utilities/internet/cell phones No cable
$1000 shopping
$350 gas/insurance
= $4580

We put $4000 into our savings account monthly. From savings we spend on travel, major home improvement and other things. We drive nice cars for at least 10 years and then pay in cash for the next.

Anonymous wrote:HHI: 190k, dual income, no kids

Monthly take home after 15% TSP contribution to one, spouse contributes 7%, health insurance, HSA contribution - about $8000 a month

Rent: 1900
Utilities, cable, cell phone: 275
Student loan: 640
Groceries: 300
Dining out: 1200-1300 (we eat out a lot)
Miscellaneous (travel bills, shopping, etc): $1000
Savings: we aim for at least 2500 (trying to save downpayment)

Basically, we try to live just on one spouse's income, and the other goes towards savings and funding IRAs.

Oh man. No kids = amazing.

HHI: 190k, dual income, no kids

Monthly take home after 15% TSP contribution to one, spouse contributes 7%, health insurance, HSA contribution - about $8000 a month

Rent: 1900
Utilities, cable, cell phone: 275
Student loan: 640
Groceries: 300
Dining out: 1200-1300 (we eat out a lot)
Miscellaneous (travel bills, shopping, etc): $1000
Savings: we aim for at least 2500 (trying to save downpayment)

Basically, we try to live just on one spouse's income, and the other goes towards savings and funding IRAs.

Anonymous wrote:LMAO. "Poor." We make $141K pre-tax. DH puts 11% of his $101K salary into his 401K and I don't save anything out of my $40K salary because I only work to pay for private school and groceries.

Mortgage is $950/month.
Healthcare, I think is about $400/month.
Childcare is $200/month.
Tuition for private school is $1600/month.
Groceries are $1200/month.
Phones (all mobile) are $180/month.
Internet $60/month
Gas is $400/month (we commute)
No gym, no car payments (both cars are luxury cars but are ten years old, bought new back then), no credit card debt or student loans. We're not saving for college; that's why they go to private school, so they can earn scholarships. We'd be comfortable paying the same tuition we do now or even a bit more when the time comes, but if they want to go to a $50K/yr school, they're going to have to help pay for it.

We shop and go out some but don't really keep track. We haven't taken a real vacation in 7 years but will be taking one this summer. We're not rich or anything but I think we're doing okay.

what is your retirement plan if you're not saving any money for yourself?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

This seems par for the course in DC unless you're single or don't have kids yet.

Or had kids 10+ years ago.

Yeah, our take home is about $8400 and we just refinanced to a $3300/month PITI. It's tight but we can afford it and it was the right option for us (right compromise between the house, location/commute, schools,etc.). I wish we were paying less but we're happy with the decision.

Anonymous wrote:

Anonymous wrote:$12000 take home (retirement and health insurance premiums deducted)
2 children, 2 WOH parents)

$3500 mortgage
$4100 childcare/tuition
no student loans (both lucky to get merit scholarships + parental contributions)
$1500 food (includes dining out and some household goods)
$1000 college savings
$600 utilities/cable/internet/cell phones
$400 shopping/activities/Target
$200 housekeeper
$200 gas/insurance/parking
$200 medical expenses (prescriptions/co-pays)
$200 life insurance
$100 home repairs (honestly, this is not enough since we live in a 1940's home)

Childcare/private preschool is really killing us right now. We are saving $0 (outside of retirement/college), and if anything comes up, we have to dip into savings to cover it. Once the kids are old enough to attend public school, we can start saving again.

Hahaha, there are no savings when they go to public, you need to pay after school care, sports, clubs and summer camps.

I doubt that will cost $4100 a month.

Anonymous wrote:$12000 take home (retirement and health insurance premiums deducted)
2 children, 2 WOH parents)

$3500 mortgage
$4100 childcare/tuition
no student loans (both lucky to get merit scholarships + parental contributions)
$1500 food (includes dining out and some household goods)
$1000 college savings
$600 utilities/cable/internet/cell phones
$400 shopping/activities/Target
$200 housekeeper
$200 gas/insurance/parking
$200 medical expenses (prescriptions/co-pays)
$200 life insurance
$100 home repairs (honestly, this is not enough since we live in a 1940's home)

Childcare/private preschool is really killing us right now. We are saving $0 (outside of retirement/college), and if anything comes up, we have to dip into savings to cover it. Once the kids are old enough to attend public school, we can start saving again.

Hahaha, there are no savings when they go to public, you need to pay after school care, sports, clubs and summer camps.

$12000 take home (retirement and health insurance premiums deducted)
2 children, 2 WOH parents)

$3500 mortgage
$4100 childcare/tuition
no student loans (both lucky to get merit scholarships + parental contributions)
$1500 food (includes dining out and some household goods)
$1000 college savings
$600 utilities/cable/internet/cell phones
$400 shopping/activities/Target
$200 housekeeper
$200 gas/insurance/parking
$200 medical expenses (prescriptions/co-pays)
$200 life insurance
$100 home repairs (honestly, this is not enough since we live in a 1940's home)

Childcare/private preschool is really killing us right now. We are saving $0 (outside of retirement/college), and if anything comes up, we have to dip into savings to cover it. Once the kids are old enough to attend public school, we can start saving again.

We take home about $10,000 per month, combined, after maxing out both 401(k)s.

We don't really budget, but we no longer have a mortgage payment.

Credit card bill - $4,000 to $4,500 per month
Cleaning lady - $120 every three weeks
529's for three kids - $300 per month
Some other random expenses

About - $3,000 per month in additional savings/investments.

Anonymous wrote:

Anonymous wrote:$3600 mortgage on $10k net is really stretching. We're at $2500 and sometimes it feels tight.

This seems par for the course in DC unless you're single or don't have kids yet.

Or had kids 10+ years ago.