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mosh913
baby boy coming spring '11
Member since 5/05 3133 total posts
Name:
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I'm ready to throw up
At just the price of everything! We are putting down 10% and we will still have a big mortgage. DH and I were ready to back out this am. How does everyone do it? So my question is, how much do you have left over at the end of the month after EVERYTHING including, food, gas, child care, etc. TIA
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Posted 5/21/08 3:13 PM  |
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LeShellem
A new beginning
Member since 2/07 3600 total posts
Name:
LeShelle
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Re: I'm ready to throw up
I hear you its so hard. DH sold his co-op and so we have 20% and even that still requires a big mortgage. We haven't closed yet, but I doubt we will have much left after every month.
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| Posted 5/21/08 3:46 PM |
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gregslove
LIF Adolescent
Member since 5/05 623 total posts
Name:
Susan
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Re: I'm ready to throw up
i hear ya! I felt the same way when we closed 4 years ago - but somehow we have made it work. if you think about it too much it will make you crazy!
at the end of the day - it is yours and everyone goes thru hard times in the begining!
GL
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| Posted 5/21/08 3:53 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: I'm ready to throw up
I am afraid of this too!
And then...add kids to the mix!!!!!
I am confident that things will work out.
GL to ya! you can do it!!
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| Posted 5/21/08 4:02 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: I'm ready to throw up
We just bought our first house in July '07. DH sold a lot of his stocks and that is how we put our 20% down. If it wasn't for that and the money from our wedding, we wouldn't have been able to. Then we spent money on the house for renovations and that was it. We have some saved for a rainy day/emergency, but otherwise we spend as little as possible to do our own work on the house now. Whatever we can do ourselves we do. I'm scared when kids come along, but somehow everyone does it. I'm sure it will be fine. Just buy within your means! GL! 
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| Posted 5/21/08 4:40 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: I'm ready to throw up
I would make a spread sheet with all your expenses
and total them up
then substract that number from what you bring in each month
see how you feel about the money that is left over
I would want at least $500 or more
anything less then $500 I would be nervous about
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| Posted 5/21/08 4:44 PM |
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TJLealand3
LIF Adolescent
Member since 6/07 839 total posts
Name:
Thomas
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Re: I'm ready to throw up
Posted by Beth1210
I would make a spread sheet with all your expenses
and total them up
then substract that number from what you bring in each month
see how you feel about the money that is left over
I would want at least $500 or more
anything less then $500 I would be nervous about
Exactly, this is what I did, remember to include your taxes and insurance in your future house payment.....
Remember to have at least 2 house payments in the bank at all times.
After all is paid we put 1600 away for future projects each month. When the total reaches the next project we do it or contract to have it done.
If all else fails eat ramen noodles for a year.
Good Luck
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| Posted 5/21/08 4:50 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: I'm ready to throw up
I would OVER estimate everything
add in extra money for gas and oil too
I would not be conservative with what I think would be going out- better to have more left over then less!
good luck
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| Posted 5/21/08 4:55 PM |
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MrsD06
LIF Toddler
Member since 9/07 478 total posts
Name:
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Re: I'm ready to throw up
Posted by Beth1210
I would OVER estimate everything
add in extra money for gas and oil too
I would not be conservative with what I think would be going out- better to have more left over then less!
good luck
That is great advice to overestimate everything. Also don't forget to factor in those expenses that won't occur every month, like extra money for weddings/other events you may be invited to, and any gifts you buy throughout the year (we knew we spent a lot on birthdays and holidays but were SHOCKED when we saw how much it is in a year ). Other additional expenses are things like car maintenance/emergencies, money you spend on prescriptions and doctor visits that your insurance doesn't cover, etc...
good luck!!
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| Posted 5/21/08 5:32 PM |
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Mdolph6
So in Love....
Member since 3/07 1622 total posts
Name:
A Family of 4
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Re: I'm ready to throw up
NOT MUCH left over but we make it work...its def hard but we just hope as time goes on it gets alittle easier.
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| Posted 5/21/08 5:55 PM |
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Theresa05
Sofialiciciousssssssssssss
Member since 10/06 4891 total posts
Name:
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Re: I'm ready to throw up
We did our #'s on one salary, and then were able to determine what worked best for us..
So we can do everything off of my husband's salary and bank mine....
with buying in NJ for us we are only increasing our bills by 2k....
to me for what I am getting that is nothing at all..
I wish you luck!
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| Posted 5/22/08 8:11 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: I'm ready to throw up
Honestly, everytime I pay my bills i feel like throwing up. Sometimes i wish we were back living in our co-op. I just keep telling myself in the end, it is all worth it!
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| Posted 5/22/08 10:01 AM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: I'm ready to throw up
Posted by Mdolph6
NOT MUCH left over but we make it work...its def hard but we just hope as time goes on it gets alittle easier.
Same here, I am a SAHM so we are on a tight budget, but it is so worth it for us. I love being home with my kids.
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| Posted 5/22/08 10:05 AM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: I'm ready to throw up
We made a lot of sacrifices. We both make decent money, but we've always saved as much of it as possible.
If people make sacrifices and spend what they can afford (definition of afford = can we pay our bills for 6 months or more if something goes wrong?) then they'll be okay!
Message edited 5/22/2008 10:19:30 AM.
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| Posted 5/22/08 10:18 AM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: I'm ready to throw up
My DH and I pretty much know what all of our friends and family members make and it amazes us that the people who make what we make are spending and buying twice as much as we are. Then, they have babies and cry about how they have to go back to work right away. Well, that's a nice new $50,000 car sitting in the driveway. It sure is nicer than my 9 year old Infiniti, that's for sure...
I know what you mean...it amazes me too how people cry poverty yet always buy expensive laptops, TV's, cars, etc. We leased a Lexus while we were living in our co-op (and obviously our COL was much less) a few years ago and the lease was just up. Although I LOVED my Lexus, I gave it up and got a Mountaineer which saved us about $150/mo. which I now put into savings for DS's college. Did I have to give it up, no? We could have afforded to buy it out or leased a new one but I didnt really need a Lexus, KWIM?
We decided we are also going to make 1 extra mortgage payment a year w/our tax return money so that our mortgage is paid off 7-8 yrs. earlier. DH and I are pretty young, 28 & 30 now, but we bought our house 2 years ago so our mortgage will be paid off when we are still fairly young, I will be around 49 and DH 51. We'll be able to take extravagant vacations and buy as many Lexus' as we want then  Now, I think it is most important to live comfortably within our means...even if it means being a little cheap.
I learned very quickly, life is not a competition of who can have more materialistic thing. DH and I are grateful that we have what we have b/c many of our friends our age do not and may not be able to for quite some time.
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| Posted 5/22/08 10:27 AM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: I'm ready to throw up
I deleted most of my reply because I didn't want people to think I was Carrie at the prom
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| Posted 5/22/08 10:53 AM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: I'm ready to throw up
This is why we're holding off on buying until next year. We want to be in a comfortable financial position to be able to pay our mortgage, our bills, save at least $1K for unexpected expenses AND still be able to live! We're still young! Although we want to invest in our future, we want to be able to drive a nice car, and have nice things, and travel and provide our son with nice things as well. And I think this is all attainable as long as you plan smart.
We're setting our minds on getting a fixer upper in Queens, since we both work in the city and my husband is in construction, and since it is going to be our house, I would want things my way anyway...but with that, there is also a lot of unexpected expenses that we have to be prepared for.
Its frustrating to have to sacrifice and be crammed now, but I know, in the end, it will all be worth it.
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| Posted 5/22/08 11:21 AM |
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lullabella
LIF Adult
Member since 5/05 2246 total posts
Name:
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Re: I'm ready to throw up
Posted by Beth1210
I would make a spread sheet with all your expenses
and total them up
then substract that number from what you bring in each month
see how you feel about the money that is left over
I would want at least $500 or more
anything less then $500 I would be nervous about
IMO $500 is not enough, unless you have a substantial savings account already. Too many things can come up car repairs, home repairs and usually they add up!
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| Posted 5/22/08 11:48 AM |
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babyfaith
Onward and Upward!
Member since 2/08 3210 total posts
Name:
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Re: I'm ready to throw up
We have very little left over at the end of the month and our combined income is over 150K. Long Island is very expensive no matter how you slice it.
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| Posted 5/22/08 2:26 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: I'm ready to throw up
Posted by babyfaith
We have very little left over at the end of the month and our combined income is over 150K. Long Island is very expensive no matter how you slice it.
very little left over with combined income of over 150K?
Oh boy...We are in deep shiitt. I better start stripping. 
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| Posted 5/22/08 4:13 PM |
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Erica
LIF Adult
Member since 5/05 11767 total posts
Name:
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Re: I'm ready to throw up
Just wait until you cut all those checks at closing! good thing they include the first mortgage payment, so you have an extra month to get your savings back up!
Posted by suvenR
I deleted most of my reply because I didn't want people to think I was Carrie at the prom
you've piqued my curiosity!
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| Posted 5/22/08 6:45 PM |
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suvenR
designer mutt
Member since 5/05 4239 total posts
Name:
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Re: I'm ready to throw up
Posted by Erica
you've piqued my curiosity!
I was going on and on about how the only way to make it these days is to make sacrifices and how people buy more than they can afford. After I hit "reply" and saw how long my rant was, I deleted most of it.
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| Posted 5/22/08 7:41 PM |
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CaseyGirl
Mommy to 3 Boys :)
Member since 5/05 19978 total posts
Name:
Jen - counting my blessings...
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Re: I'm ready to throw up
It never ends....it's always something...
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| Posted 5/22/08 8:01 PM |
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smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
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Re: I'm ready to throw up
Posted by Sandy55
Posted by babyfaith
We have very little left over at the end of the month and our combined income is over 150K. Long Island is very expensive no matter how you slice it.
very little left over with combined income of over 150K?
Oh boy...We are in deep shiitt. I better start stripping.
Well, that's not the case for everybody. Some people have a house, a family and have less than that.
It depends how many other "obligations" you have.
Studends loans, big car payments/lease, lifestyle, etc...
So someone may make have a higher income but be in higher debt (not refering to PP particularly).
Just do your own spreadsheet of all your expenses.
I also agree to "over estimate" a bit on expenses you won't know (electric, utilities, etc...)
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| Posted 5/22/08 10:35 PM |
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MrsKelly
just hangin' around...
Member since 11/06 6305 total posts
Name:
Krista
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Re: I'm ready to throw up
we spend more than we make and it makes me want to throw up every time i pay our bills. but neither of us are at top salary yet, so i know it'll get better. and we're in our "forever" house so it makes it worth it. we manage, somehow.
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| Posted 5/22/08 10:49 PM |
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