quote:

It really varies by month. Some months it’s 300 some it’s 1500. Typically we save around 600 or so a month. The credit card and entertainment expenses drive a lot of it. We try to save as much of the bonuses that we can. Usually 8-9k or so.

I have 80k in my 401k. I didn’t start working until 23 because of school. Wife has the pension through the state retirement. But we are about to set up a Roth in addition.

Congrats on the 170K yearly salary at such a young age. I would of given my left nut to make that kind of money at age 30.

Pay off the car
Cut the credit card up and dont charge. Sounds like you eating out alot or taking numerous vacations.

I think if you do those 2 things you can save $3000 a month easy.

Also try and pay off the student loans. Thats all i got.

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Posted by Epic Cajun

Lafayette, LA

Member since Feb 2013

37066 posts

Posted on 3/13/26 at 10:57 am to Double Oh

quote:
Cut the credit card up and dont charge. Sounds like you eating out alot or taking numerous vacations.

I think if you do those 2 things you can save $3000 a month easy.

Why stop there? If they cut out all enjoyment in their lives they may be able to save 4k every month.

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Posted by Auburn80

Backwater, TN

Member since Nov 2017

10019 posts

Posted on 3/13/26 at 1:55 pm to JoeySaltwater

The only thing I would try to
Improve is the car notes. Don’t know what you drive but I buy used and drive cars until they wear out. No car note is a big help financially. Also, things may change when you have a kid. Your wife might want to be a stay at home mom. Daycare costs might be a wash with her salary. You’re actually doing great for your age. Just don’t buy more house or car than you need.

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Posted by tirebiter

7K R&G chile land aka SF

Member since Oct 2006

10973 posts

Posted on 3/13/26 at 7:30 pm to BabyTac

quote:
Mortgage - goal is to not have a mortgage past 40…ever

You know, a lot of people change jobs and/or careers and if they are in a large/very large city they may need to move to avoid sitting in traffic for hours or for better schools. A lot of people choose to work in other states, etc. I'm in a 3,100 sq foot house on four acres in a very desirable area with 2 more years of seller mortgage buy down and then I will do whatever is most advantageous financially for my wife and I, as is it is too cheap to do anything.

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Posted by KWL85

Member since Mar 2023

3785 posts

Posted on 3/13/26 at 8:02 pm to JoeySaltwater

quote:
Also the bonuses I get really help us to save up.

I tried to invest most of my bonuses. One of the easiest ways to build wealth.

I would start a Roth. No tax on all the profit with 30+ years to grow is a winning combination. At your age and income, I would focus on this. Hopefully, your employer provides match on Roth. Not all do. If not, take the match for traditional 401, then fund a Roth with whatever you can.

You seem to spend time planning. Good for you. Just knowing where you spend your money shows you will manage your money well. Low cost indexes like the s&p500 are usually to good choice for a large percent of your investments. Good luck!

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Posted by Quatre Pot

Member since Jan 2015

1838 posts

Posted on 3/14/26 at 7:47 am to JoeySaltwater

First off:
You’re doing very well! Congrats

Your discretionary spending is a bit high though. My sincere advice is to follow Dave Ramsey’s plan. Essentially:
Create a budget and stick to it tightly
Eliminate car notes
Eliminate credit cards balances
Build up emergency fund

You’re going to be living below your means for while and it can get frustrating to see all of your friends with nicer things than you, but within a few years that script flips and you can be completely financially independent.
I’m 43 and my wife and I starting using the plan when I was a few years younger than you. 6 kids all in private school the whole 9 yards. Haven’t had a car notes in 15 years, 100% financially independent today, and, when I started my new business a few years back we had 2 years of income in cash. Lifestyle didn’t have to change!
My point is definitely not to brag about me. I’m hoping to help you get ready for a life with children

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Posted by Upperdecker

St. George, LA

Member since Nov 2014

33519 posts

Posted on 3/14/26 at 8:10 am to thunderbird1100

quote:
We have friends with 2 kids in daycare who definitely make $250k-$300k/yr combined and are about $18k in c.c. debt with a 5 and 2 year old in daycare the last 1.5 years or so and play the "wait for bonuses" game to pay off the c.c. when they can. They didnt adjust their lifestyle enough with a 2nd to float themselves month over month so they've gotten into a bit of debt paying a bit under $3k/mo in daycare expenses.

That’s insane. Probably living in a HCOL city where that kind of money doesn’t mean as much though

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