We are a family of four, 2 adults and a 4 year old and 2 year old. We live off my husband’s salary while I’m staying at home because daycare for 2 was almost my entire teacher salary. I do some online tutoring that brings in a small amount, a couple hundred a month. He recently went from 50k to 65k and we have some new expenses (preschool and car payment), so I’m trying to make sure this is realistic. His paychecks are usually 4000 per month. What do you think?
Mortgage - $1250
Car Payment - $300
Car Insurance - $245
Gas - $100
Groceries - $400
Internet - $100
Phones - $50
AC/Heating - $150
Preschool - $160
Dog Walker - $100
Extras ? - $300
I feel like we should have around $900 left over each month. Is there anything I seem to be forgetting or not thinking about?
We have given that some thought. It is convenient since, with two young children, it can be challenging to walk the dog during the day and because the majority of the year is really cold where we live. However, we ought to put in more effort and go out with the dog alone in the evenings. That seems like the first thing we would cut if we had to.
subscriptions to Netflix, Amazon, etc.? For such purposes, I have a “sinking fund” established. I split the annual subscription costs, back-to-school shopping, Christmas, birthdays, teacher gifts, kid sports, shoes, haircuts, and other expenses I have on a spreadsheet by twelve, deposit the results into a different savings account, and take money out of it as needed.