Anonymous wrote:

Anonymous wrote:$18000 take home
$7000 mortgage (big extra payment)
$2000 Private school
$4000 extra savings
$800 housekeeper
$1000 activies/lessons (whole family takes piano)
$1000 charity/Synagouge dues

Leaves about $2000/month for expenses, travel, etc. the extra savings is split between a short term fund which we dip into for house repairs and other big expenses and extra retirement.

We've had a large ramp up in income in the past 5 years, and we've tried to maintain the same lifestyle while upping the savings.

Do you eat?

Yes. Its in the etc

Seriously, we are vegetarian and hardly eat out. I get breakfast and lunch at no cost at work. We spend about $400/month at the grocery store (including toiletries and household supplies)

The "extra savings" does give us a lot of flexibility. $3000 of that goes to extra retirement. Except for one month when we needed a major house repair. But the other savings is fair game for bigger expenses like when I replaced my laptop or a large car repair.

Our big indulgences are the housekeeper and piano lessons (I inherited the piano). But we're not shoppers. I wear scrubs to work and jeans most of the rest of the time. We like cheap, outdoor vacations.

Anonymous wrote:$18000 take home
$7000 mortgage (big extra payment)
$2000 Private school
$4000 extra savings
$800 housekeeper
$1000 activies/lessons (whole family takes piano)
$1000 charity/Synagouge dues

Leaves about $2000/month for expenses, travel, etc. the extra savings is split between a short term fund which we dip into for house repairs and other big expenses and extra retirement.

We've had a large ramp up in income in the past 5 years, and we've tried to maintain the same lifestyle while upping the savings.

Do you eat?

$18000 take home
$7000 mortgage (big extra payment)
$2000 Private school
$4000 extra savings
$800 housekeeper
$1000 activies/lessons (whole family takes piano)
$1000 charity/Synagouge dues

Leaves about $2000/month for expenses, travel, etc. the extra savings is split between a short term fund which we dip into for house repairs and other big expenses and extra retirement.

We've had a large ramp up in income in the past 5 years, and we've tried to maintain the same lifestyle while upping the savings.

Anonymous wrote:Gosh I'm poor.My take home is $4k a month max.After paying 2 mortgages and add to Roth,
I have about $600 to spend on myself each month. I live like a king's cat (very well).

It all depends on your expectations. When we had a mortgage and a nanny, we earned a lot but spent a lot and although we always lived well, we lived within a budget. Made about $200K. Now with $350K in income, but no mortgage or childcare, we're in a totally different situation and save about 35 or 40% of our net income. THAT is living very well.

Gosh I'm poor.My take home is $4k a month max.After paying 2 mortgages and add to Roth,
I have about $600 to spend on myself each month. I live like a king's cat (very well).

I have 450$ left over every month for vacations (not) car repairs (many) and shopping (walmart)

Anonymous wrote:I can't fathom how we can make so much and still end up with so little at the end of the month. I need to get organized with a family budget and stick to it. Any examples of budget (family of 4 both working OH with 3 yo and 4.5 yo and $4,500 mortgage) or words of wisdom would be welcome.

I suggest you get Quicken or other similar software and put in all of your expenses for 6 months- if you can go back six-12 months - that will help too. This will help you figure it out. We use Quicken and it is easy once established because we can download our credit card bills and it knows which category based on past bills.

Anonymous wrote:

Anonymous wrote:But the reason I don't donate is because all the charity orgs are frauds. Very little of our donations would actually end up with those who need them.

Having worked at a number of charities (nonprofits), I can tell you that all the nonprofits that I've been associated with have not been frauds. They are full of hard-working, dedicated, underpaid, overworked people who are trying to make the world a better place for you and your children through things like: social services, environmental protection, education, etc etc.

Please get off your high horse. You know not of what you speak.

I agree, not true re charities. I think people say that to justify not giving back. ask the charity how much goes to overhead and you can restrict how your money is spent (for example, general fund vs research vs capital campaign, etc). to whom much is given, much is expected in return. if you can't spare that dime, give your time.

Anonymous wrote:But the reason I don't donate is because all the charity orgs are frauds. Very little of our donations would actually end up with those who need them.

Having worked at a number of charities (nonprofits), I can tell you that all the nonprofits that I've been associated with have not been frauds. They are full of hard-working, dedicated, underpaid, overworked people who are trying to make the world a better place for you and your children through things like: social services, environmental protection, education, etc etc.

Please get off your high horse. You know not of what you speak.

Then find better charities-- there are lots that do a great job. You don't need to give to the first ones that mail you crap.

Oh, and cry me a river for the poster who only has $2500 A MONTH to spend on vacations/car repairs.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't fathom how we can make so much and still end up with so little at the end of the month. I need to get organized with a family budget and stick to it. Any examples of budget (family of 4 both working OH with 3 yo and 4.5 yo and $4,500 mortgage) or words of wisdom would be welcome.

We net about $14K/month after taxes and 401. It is tight around here, but we look something like this:

2,800 Mortgage (include PITI)
1,800 Childcare and tutor
1,200 Student loans
300 Insurance (life, health, disability, car, personal property)
25 Charitable contributions
2,400 Savings/529s/other investments
500 car
800 utilities/yard/cell phones
500 gym/kid activities

This adds up to about $11.5K Only $2.5K left for vacations, shopping, and home/auto repairs. Our savings, investments, and home equity are growing slowly but surely, but the money just seems to go so fast

Wow, you make $14,000 AFTER taxes and you only donate $25 to charity? Wow.

Since when is it a requirement to donate to charity? We don't donate.

I don't donate to charity either. But the reason I don't donate is because all the charity orgs are frauds. Very little of our donations would actually end up with those who need them.

Anonymous wrote:

Anonymous wrote:I can't fathom how we can make so much and still end up with so little at the end of the month. I need to get organized with a family budget and stick to it. Any examples of budget (family of 4 both working OH with 3 yo and 4.5 yo and $4,500 mortgage) or words of wisdom would be welcome.

We net about $14K/month after taxes and 401. It is tight around here, but we look something like this:

2,800 Mortgage (include PITI)
1,800 Childcare and tutor
1,200 Student loans
300 Insurance (life, health, disability, car, personal property)
25 Charitable contributions
2,400 Savings/529s/other investments
500 car
800 utilities/yard/cell phones
500 gym/kid activities

This adds up to about $11.5K Only $2.5K left for vacations, shopping, and home/auto repairs. Our savings, investments, and home equity are growing slowly but surely, but the money just seems to go so fast

Are you for real with the sad face? You're sad because the money disappears after...you spend it? Duh. And you still have 2500 for shits and grins at the end of the month? Please please please rethink your choice of emoticons.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can't fathom how we can make so much and still end up with so little at the end of the month. I need to get organized with a family budget and stick to it. Any examples of budget (family of 4 both working OH with 3 yo and 4.5 yo and $4,500 mortgage) or words of wisdom would be welcome.

We net about $14K/month after taxes and 401. It is tight around here, but we look something like this:

2,800 Mortgage (include PITI)
1,800 Childcare and tutor
1,200 Student loans
300 Insurance (life, health, disability, car, personal property)
25 Charitable contributions
2,400 Savings/529s/other investments
500 car
800 utilities/yard/cell phones
500 gym/kid activities

This adds up to about $11.5K Only $2.5K left for vacations, shopping, and home/auto repairs. Our savings, investments, and home equity are growing slowly but surely, but the money just seems to go so fast

Wow, you make $14,000 AFTER taxes and you only donate $25 to charity? Wow.

Since when is it a requirement to donate to charity? We don't donate.

Anonymous wrote:If you make $14k a month after taxes and you can't make ends meet, someone needs to hit you with the clue stick. And I say this as someone making about $10k a month.

In fact, crying about this in a public forum is rather offensive. Hire a damned financial adviser.

No one is saying they can't make it. OP's question is how do other families in similar situations do it. I gave our budget as an example. As you can see, we are making it. However, we don't live a luxurious life. We have to budget vacations, major repairs, and summer camps.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I make $200k and I remember when I thought that was a ton. Lol

to most of the world, it is. don't be an ass.

To most of the world $500 a year is a lot. My point was that it never seems to be enough, does it?

Don't worry, some of us understood the point you were making. Extra income gets soaked up.