We are 30s DINKS with DS on the way. Obviously people live on less than $100k of expenses but I don't know how to do it. This table is based on last year's actual spending. We could cut several items in the discretionary section and get another 10 or 20k out of it but then we're spending 80k which still seems like a lot. Moving to a cheaper house doesn't seem feasible right now. Am I missing something?
Code:
[B]Discretionary[/B]
5,000 Clothing
4,000 Dining Out
4,000 Donations
2,500 Personal Care (hair, nails)
4,000 Gifts
1,000 Entertainment
5,000 Travel/Vacation
1,000 Electronics
1,000 Home Furnishings
[B]27,500 Subtotal[/B]
Code:
[B]Semi-fixed[/B]
500 Appliances
800 Cable/Internet
1,560 Cell Phone
1,500 Electricity
250 HOA Dues
600 Natural Gas
400 Streaming services
1,400 Water & Sewer
750 Dry Cleaning
2,500 Gasoline
7,000 Groceries & supplies
3,500 Costco
[B]20,760 Subtotal[/B]
Code:
[B]Fixed[/B]
14,424 Mortgage (P&I only)
4,000 House Maintenance
8,500 Property Tax
15,600 Daycare
500 Car Maintenance
250 Car Registration
200 Car Tolls and parking
1,400 Insurance Auto
400 Insurance Flood
3,000 Insurance Health
500 Insurance Dental
2,400 Insurance Homeowner's
200 Insurance Umbrella
200 Dentist
1,000 Doctor
200 Prescriptions
[B]52,774 Subtotal[/B]
[B]101,034 Grand Total[/B]