Here we go.
Currently our combined monthly take home pay is: roughly $7188
When you take out bills (including a $1016 mortgage): $4637 When you take out savings: $3887.
We have about 34,000 in the bank right now. And are looking at making around 65k from the sale of our current house.
The new house is 370,000, with a monthly payment after 20% down being roughly $1814.
This would be an increase in housing costs by about $800 bringing my available free dollars down to $3007.
That seems like plenty to live on between me and my wife. We’ve been basically living like that for the past 4 years as I had a truck payment that just got paid off 3 months ago which was $700. We never really had any sort of want for money or the inability to go do what we want.
The unknown is the baby on the way. Is $3007/month of discretionary income enough to pay for the baby without ruining our finances? Am I being too optimistic on how much a baby costs?
Submitted July 15, 2021 at 07:21AM by jamalstevens https://ift.tt/3eo78n0
