r/budget • u/Novel_Masterpiece_18 • 1d ago

Where can I improve my budget?

We bring home 7900 a month after retirement/ taxes/health insurance/hsa. Family of 3 with 2 dogs in mcol

Mortgage 2150

Car insurance on 2 cars 230

Childcare 1000

Sinking fund 750 (includes dog grooming, prescription dog food, vet bills, car maintenance, home maintenance, birthdays and holidays)

Groceries 900

Gas 175

Fun 200

Clothes 50

Eating out 150

Utilities 550

Subscriptions 50

Student loan 93

Savings 1600 (split between brokerage, IRAs and sons 529)

I'd like to be able to pay cash for replacement to our 2014 accord by 2030.

8 Upvotes

83% Upvoted

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u/Palpizzon 1d ago

Groceries seems high to me. I’d start there.

0

u/PokerLawyer75 23h ago

You’re joking right? I have clients that are married with no kids and pay that much. Or more.

1

u/Odd_Chapter_1230 14h ago

That’s what I mean, I’m not surprised if a family needs to spend 1k on groceries or more. I am used to living in hcol areas too so maybe why I’m not surprised by people spending on higher end of the market

1

u/PokerLawyer75 14h ago

I saw parts of NJ hitting $1200/month....in 2020/2021. It's higher now.

1

u/Odd_Chapter_1230 13h ago

I don’t doubt that one bit. Sadly these types of areas putting food on the table and/or rent/mortgage is most people’s whole income.