JoeySaltwater

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.

The wife gets a 4.5k bonus and I get about 13-14k. Thats gross though. About 12 net.

We priced out daycare already. It will be 800 dollars a month. Good respectable place too.

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

Long time lurker and figured what better place to come to get some advice on my current financial situation.

I constantly feel like we are not doing well enough for our age. Maybe it’s just because we have very successful peers. However, I wanted to layout of financial situation and get some feedback. Are we saving enough money. I work in finance at one of the biggest companies in the south (located here in Louisiana) while my wife is a high school teacher. I am 30 and she just turned 29. Together we bring in a gross income of about $170k a year (including supplemental bonuses received throughout the year). I’m hoping to continue to receive pay raises throughout my career but obviously the wife is limited. Sometime I feel like we should be saving more money. Anyways, any thoughts are welcome. See below for our expense breakdown. Oh not to mention, my wife is also pregnant and due with our first child in October.

Mortgage: 2175
Car Notes: 480
Car Insurance: 350
Groceries: 550
Student Loans: 375
Utilities: 410
Gas: 115
Credit Card/Spending: 2700 (need to lower this - we pay it off every month)
Health Insurance: 300
We also priced out daycare for 800 dollars a month. Already got accepted for next year.

Currently our savings account is roughly 20k. We had to take a lot out for the purchase of our house and wedding.
After all expenses we save roughly $12-15k a year. I put in 8% into my 401k and get a 6% match as well. The wife is currently only putting into the state teacher retirement but we are about to set something up.