zombimansimp
New member
Not sure if this is the right sub. Just wanted an opinion on whether or not our monthly spending is reasonable or if we should work on cutting back more and if so where? We are a family of 3 with a 1 year old living in the Kansas City metro. I know the median income in the US is around $80k and we spend about $80k while making a little more. I don’t feel like we live a crazy nice lifestyle but feel like maybe we still somehow spend too much. I guess I’m just curious how anyone is thriving on less because it just seems really hard to do so and make things work on much less. But clearly people must be doing it somehow if the median is what it is. Anyway here is our budget:
Expenses/Spend:
Mortgage: $2200
Shopping/Clothes/Baby/Home: $1100
Groceries: $850
Dining/Alcohol: $650
Utilities/Phone/Internet: $500
Gas/Car Insurance: $450
Health Insurance: $400
Entertainment: $200
Miscellaneous: $200
Total Spend: $6,550
Remaining Income:
Taxes: $1300
Giving: $500
Saving/Investing: $1500
Total Gross Income: $9,850/month.
Edit: Thanks for the replies everyone. Sounds like shopping insurance and planning meals better is the best start. Also my wife and I both work 3-4 days a week and between days off and family have childcare taken care of. I have no idea how regular people pay $2k a month for child care.
Expenses/Spend:
Mortgage: $2200
Shopping/Clothes/Baby/Home: $1100
Groceries: $850
Dining/Alcohol: $650
Utilities/Phone/Internet: $500
Gas/Car Insurance: $450
Health Insurance: $400
Entertainment: $200
Miscellaneous: $200
Total Spend: $6,550
Remaining Income:
Taxes: $1300
Giving: $500
Saving/Investing: $1500
Total Gross Income: $9,850/month.
Edit: Thanks for the replies everyone. Sounds like shopping insurance and planning meals better is the best start. Also my wife and I both work 3-4 days a week and between days off and family have childcare taken care of. I have no idea how regular people pay $2k a month for child care.