Quote:
Originally Posted by smileybear
You're right, I was off a bit in saying it was taxes. I bring home about $6400 a month net, after fed/state taxes, health and vision insurance, disability contributions, I have a flexible spending account (my son and I have asthma, plus husband's issues), plus I'm trying to put $100 a month into a new Susie Orman Save Yourself account, and 1-2% into 401K depending on how desperate i feel each month.
I do NOT account for every penny, and that's a problem. But I am trying the envelope thing, $200 for groceries every paycheck, reducing phone and cable bills, etc. I have some student loan debt ($390/mo)and a car loan ($320, high interest), small credit card ($600) which I just paid off. but our expenses - heat, cable, phones, water - eat up another big chunk. These would go down in a smaller house. I'm about barely breaking even.
Also, because in working 2nd job at home, I am spending some cash, a little, on business needs, like writeable CDs, web hosting fees, some minor advertising $20/mo, must have hi-speed cable internet, etc.). I do bring in about $400 a month extra, but now I'm beginning to work a lot harder, more hours each night, and that should cause income to go up for may and beyond.
I do categorize everything in quicken so I know where it WENT but i never know where it will COME FROM next month  |
I highlighted a couple of comments above which caught my attention.
Most of the underlined red passages speak of generalities. You know of an issue but either are reluctant to share it online (I don't think this is the case) or you do not know the numbers in and out.
I can tell you we budget $300/month for gas and electric
I can tell you we budget $200/month for groceries
I can tell you we budget $100/week for gas
You need to know specifics.
General questions get general answers. Specific questions get more specific answers.
The second comment is most people do not have an income problem. Most people have a spending problem. I work a second job for more income, and that money goes to 3 things
1) savings
2) vacations
3) charities
I used to do second job for free, now I found a way to get paid for it. I say this because the second job might help the income, but it might hurt the family values and tax situation. I think you make enough money. The issue is spending it smarter.
My suggestion
1) work with the other posters here on a budget. They are better at it than me. Know where you spend ALL of your money.
2) work on the tax situation. 100k in income with $6400 of take home sounds like tax man is kicking you when you are down. There are ways to avoid this.
3) regardless of spouse issue (I thought Broken Arrow's response to this was quite good), you need to do what is best for you, and look out for your son. Arguing about money every week will cause more harm to child than moving 3 times in a childhood will.