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Could you live off of $2300 a month after standard mortgage/utilities and car/insurance?
Posted on 1/10/20 at 1:41 am
Posted on 1/10/20 at 1:41 am
All that I have left is grocery/gas/cable/internet and everything else is left over.
Family of 3, sometimes 4.
I'm figuring $1K/month for gas and groceries, $100/month for internet/cable for the first year.
That leaves around $1300 left for everything else (eating out, hair cuts, etc.)
What am I missing?
If you're looking for a story, I'm military, just moved to Spokane and there's no base housing available. I'm selling a house in Valdosta, GA, but obviously paying on it while it sells, so I'm short on cash while waiting. Married with 1 child in house and 1 in college.
Already posted on the $ board... looking for quick inputs on what I'm not thinking about, as I'm having a hell of a time finding nice/affordable housing in the Spokane area.
Family of 3, sometimes 4.
I'm figuring $1K/month for gas and groceries, $100/month for internet/cable for the first year.
That leaves around $1300 left for everything else (eating out, hair cuts, etc.)
What am I missing?
If you're looking for a story, I'm military, just moved to Spokane and there's no base housing available. I'm selling a house in Valdosta, GA, but obviously paying on it while it sells, so I'm short on cash while waiting. Married with 1 child in house and 1 in college.
Already posted on the $ board... looking for quick inputs on what I'm not thinking about, as I'm having a hell of a time finding nice/affordable housing in the Spokane area.
This post was edited on 1/10/20 at 1:47 am
50
Posted on 1/10/20 at 1:46 am to cubsfan5150
absolutely. However, I dont have kids and have never had to budget for them so I could imagine that it might be tougher, but CERTAINLY doable.
Edit: Do you have to pay for private education for your kids in Spokane? (Id assume not, but I have no idea).
Edit: Do you have to pay for private education for your kids in Spokane? (Id assume not, but I have no idea).
This post was edited on 1/10/20 at 1:48 am
Posted on 1/10/20 at 1:55 am to Ryan3232
No, schools here are pretty good.
Posted on 1/10/20 at 2:08 am to cubsfan5150
The X factors for me would be medical expenses and child related costs popping up. I assume, though, that military personnel don't face high deductibles with health insurance. Aside from tuition, kid related activities and sports get expensive even not doing something like travel ball. What about shoes/clothing for the family? Budget something there, too, as you're always needing things for them.
Posted on 1/10/20 at 2:20 am to cubsfan5150
Medical expenses
Clothing
Entertainment/Activities
Home maintenance expenses
Auto maintenance expenses
I still think you can do it as long as you’re smart with your budget, but make sure you save as much as possible for the first several months at least to build a little cushion
Clothing
Entertainment/Activities
Home maintenance expenses
Auto maintenance expenses
I still think you can do it as long as you’re smart with your budget, but make sure you save as much as possible for the first several months at least to build a little cushion
Posted on 1/10/20 at 2:23 am to cubsfan5150
quote:
I'm military,
quote:
Married with 1 child in house and 1 in college.
quote:
Spokane
quote:
That leaves around $1300 left for everything else
This ain’t even enough to cover the booze you’ll need
This post was edited on 1/10/20 at 2:24 am
Posted on 1/10/20 at 2:40 am to cubsfan5150
quote:
I'm figuring $1K/month for gas and groceries, $100/month for internet/cable for the first year.
That leaves around $1300 left for everything else (eating out, hair cuts, etc.)
What am I missing?
Life.
ETA - if you've got a college aged kid this clearly isn't your first rodeo. Check your credit card or checking statement for the past 12 months and see if you spent more than $2300/mth on non home/car notes.
My experience is that people underestimate their expenses by 500-1000/mth, at least.
This post was edited on 1/10/20 at 3:03 am
Posted on 1/10/20 at 2:56 am to cubsfan5150
Easily
Posted on 1/10/20 at 3:26 am to cubsfan5150
That's a lot of money holy crap. Yeah you could live off that.
Posted on 1/10/20 at 3:49 am to cubsfan5150
easily.
I would make sure to set up an emergency fund too.
I would make sure to set up an emergency fund too.
Posted on 1/10/20 at 6:16 am to cubsfan5150
Every base has an office that will help you develop a budget. I recommend you go do that.
Posted on 1/10/20 at 6:23 am to cubsfan5150
My wife and I live off of $400 a week for a family of 4 including groceries.
Posted on 1/10/20 at 6:24 am to cubsfan5150
Aren't you close to 20 years? Figure your pay would be higher. Why base housing, I know its expensive, but your housing allowance should let you get a decent place or even small place to bank money.
Posted on 1/10/20 at 6:25 am to cubsfan5150
Yeah, my wife and I budget $2k currently for our "spending money" after all the bills are covered. After you pay for internet/tv you'll be in a similar spot.
We don't eat out very often though with a toddler that goes to sleep around 7.
We don't eat out very often though with a toddler that goes to sleep around 7.
Posted on 1/10/20 at 6:28 am to cubsfan5150
Find a church that offers Dave Ramsey Financial peace university
Posted on 1/10/20 at 6:28 am to Ryan3232
quote:
absolutely. However, I dont have kids and have never had to budget for them so I could imagine that it might be tougher, but CERTAINLY doable.
I wish my lawyer would have told the judge this during my divorce settlement.
Posted on 1/10/20 at 6:33 am to cubsfan5150
I’d think outside the box for your rental home. Find a smaller place, further away, etc. Yes you can live off $1300/ month but there’s no room for say a vacation or anything. Maybe live in a mobile home for 6 months, something like that.
Also, when are you moving? Most people know months ahead of time and can start looking for housing.
Also, when are you moving? Most people know months ahead of time and can start looking for housing.
Posted on 1/10/20 at 6:45 am to cubsfan5150
You should be able to just fine. Thank you for your service and congratulations on getting out of Valdosta!
Posted on 1/10/20 at 6:46 am to cubsfan5150
Well I pay half of that in student loans a month so no
Posted on 1/10/20 at 7:00 am to cubsfan5150
I'm right around $2500 after house and car bills, so I think $2300 is doable. Do you have any debt you pay on like credit cards or other loans? Also, factor in some savings as well for emergencies.
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