Submitted by solishu4 t3_100kkl1 in personalfinance
So, I am a dad of three young kids in Florida, and my wife has some health impairments that make working not economically advantageous after you account for childcare. I have a take home pay of 3418 per month. I have the following “necessary” expenses:
- House payment: 700
- Utilities: 350
- Yard maintenance: 150 (it’s a big yard and it rains a lot, so to do it myself I would need a rider mower)
- Groceries: 1200
- Internet: 50
- Phone: 100
- Medical insurance for my wife: 100
- Car insurance: 66
Total: $2566
There are some variable medical costs on top of this, but we are already well above 50% for necessities. We’ve been supplementing our income with a modest savings account we funded by an inheritance wife received, but it’s not sustainable and so we are trying to get our budget balanced. Can anyone help us know where to start?