For some context…..
I am 27. I am an engineer making $95,000/yr in a fairly low cost of living area of the US. I get a 10% 401K match (yes absurd, I know). I bring home right at $6000 a month.
Mortgage on the house is $1200/month. We have a $300/month car payment for my wife’s car (0% interest 36 months) and my car is paid off. Those are the only two debt payments we have. We have two kids under 5.
We budget pretty good I think and target $4000 spent each month. It always seems like some chunk payment of some sort ends up ruining that $4000 spent and we hit like $5000-$5500. Last month it was car service on my car + 2 doctors visits. The month before that it was car taxes.
Essentially, it just seems like even though I make a above-average salary, we cannot seem to clear the amount per month necessary to save for a larger house or college or whatever. My wife will eventually go back and teach but that is a few years down the road.
I know I am doing far better than most of the US so I am not complaining. I am just curious if we are doing something wrong or if the days of one income are truly over.
Submitted May 24, 2022 at 07:57AM by PassmetheToastplez https://ift.tt/9eQgiU4
