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Mom Confessions Mom Confessions

who here is good with money?

Anonymous
Posted by Anonymous
  • 31 Replies
1 mom liked this

Okay..Who here is good with money? I am wondering how much YOU would be saving a month if you were in my postiion. If you took home 4400 a month, and your bills WITH GAS AND FOOD was only 2,000/a month, how much would you put in savings every month? looking to buy a home in cash in a few years.

Posted by Anonymous on Dec. 25, 2013 at 10:05 PM
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Replies (1-10):
IamMex11
by JorgematoTM on Dec. 25, 2013 at 10:06 PM

bump

supermama322
by Kaylee on Dec. 25, 2013 at 10:06 PM
3 moms liked this
I'd be putting away at least 1000
Anonymous
by Anonymous - Original Poster on Dec. 25, 2013 at 10:07 PM

my husband thinks we should be putting away 2k a month. does that seem reasonable?

Quoting supermama322: I'd be putting away at least 1000


LokisMama
by Platinum Member on Dec. 25, 2013 at 10:07 PM
1 mom liked this

At least half of whatever remained, so probably around 1200. That still leave you with a ton of wiggle room, in case of emergency or whatever so you don't have to tap into your savings if you need new tires or a pipe bursts or something.

HaYouFail
by Silver Member on Dec. 25, 2013 at 10:07 PM
3 moms liked this

You should be saving a minimum of $1900 per month.  That gives you $500 per month of spending cash/entertainment money, emergency money.

Kodysmommy928
by Platinum Member on Dec. 25, 2013 at 10:08 PM
Every single penny I could. Does the $2000 include your retirement contributions? Can you lower bills any further? Do you have credit card debt?
KendallsMommee
by Spoiled SAHM on Dec. 25, 2013 at 10:08 PM

At least half.

The rest would be in my children's college fund.


We own a home but do similar.

KME3
by Platinum Member on Dec. 25, 2013 at 10:08 PM
1500..
Anonymous
by Anonymous - Original Poster on Dec. 25, 2013 at 10:09 PM

yes, we have money that already comes out of our checks each month for retirement. 

Can't lower the bills any less and we have no credit card debt. 

Quoting Kodysmommy928: Every single penny I could. Does the $2000 include your retirement contributions? Can you lower bills any further? Do you have credit card debt?


Anonymous
by Anonymous - Original Poster on Dec. 25, 2013 at 10:10 PM
1 mom liked this

my kids have college funds already in place. =)

Quoting KendallsMommee:

At least half.

The rest would be in my children's college fund.


We own a home but do similar.


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