Quote:
Originally Posted by Caoineag
Okay, I am pretty sure I am missing something here. 66k doesn't cover everything you have listed. Your groceries are exceptionally cheap given the rest of your numbers and I don't see any additional savings or personal spend money. Maybe you guys don't spend a lot of money but I assume you will have some clothing expenses for baby, probably for the mom as well and various other household expenses that aren't accounted for.
I guess my questions is what am I missing and what are you asking?
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40k in intemized deductions between mortgage and small business helps.
Expenses are kept low- most vacations are funded from a second job I have which pays cash and is not budgeted for.
As far as kids activities, the way I see it two things will happen short term- the 300 for diapers and 700 for my truck will disappear, creating $1000/month for kids activities and paying down the 2nd mortgage. Within 5 years $700/month pays that off. Then the $400/month for that gets added in and we can think about a college fund or two and a new car fund as well.
We also don't have raises factored in, the way I see it raises will kick in where the deductions start dropping off (I cannot forsee 40k of deductions sustaining for a long time).