We are about to purchase a house and have a new born starting daycare. Can you find holes in our monthly budget? M&F <30 and baby <6 months, about to purchase a home.
| HHI | $260k/year |
|---|---|
| 401k | 3.8k/mo (2.2k + 1.6k employer match) |
| Monthly Net after taxes, 401k, medical | 15.7k/mo |
| Investment - non retirement accounts | 2k/mo |
| Savings | 1k/mo |
| Groceries | 1k/mo (250/week) - we buy a lot organic fruit and making food |
| House cost | 5.2k/mo (PITI 4.2k, utilities 500, and 500 for maintenance/repairs) |
| Car ('19 SUV paid off) | 0.4k/mo (Gas, insurance paid annually, and savings for maintenance) |
| Dog / Meals out | 0.2k/mo |
| EF | 0.15k/mo (30k in iBonds atm) |
| Daycare | 1.7k/mo |
| Baby | 0.5k/mo |
Disclaimer: Amounts are rounded
Other things to note:
We already paid off 100k in student loans, 30k wedding, and the car. Have been saving 6k/mo for house down payment.
~250k in 401k and 50k Roth IRA
original posted by TheYoungSquirrel to r/personalfinance on Sun, 14 Apr 2024 15:24:42 GMT.