I ran the numbers and how can I survive?!? (San Diego: apartment, rentals)

[chitleah]

Michael Leah Bills monthly
bi-weekly 2000 bi-weekly 2000
after tax 1593.4 after tax 1593.4 Rent 2500
monthly 3186.8 monthly 3186.8 car 400
car insurance 125
daycare 1400
after school care 200
cell phone 100
groceries 600
power 200
cable 100
gas 360
rental insurance 75


total Total Balance
6373.6 6060 313.6

[hitman619]

Get a cheaper place to live, problem sloved

[Jenkay]

Originally Posted by chitleah

Michael Leah Bills monthly
bi-weekly 2000 bi-weekly 2000
after tax 1593.4 after tax 1593.4 Rent 2500
monthly 3186.8 monthly 3186.8 car 400
car insurance 125
daycare 1400
after school care 200
cell phone 100
groceries 600
power 200
cable 100
gas 360
rental insurance 75


total Total Balance
6373.6 6060 313.6

Cut back on rent by $500-1,000 (you can rent a SFH in most places for 2k but if you live in an apartment or condo you can very easily get away with $1500) cut back on food a couple hundred by buying less or no pre-prepared/packaged food and cooking. Power should be <$100 unless you're running AC constantly, cancel your cable, and how the heck do you spend $360 a month on gas? I commute from north park to escondido and I spend less than half of that.

[malcorub16]

I am having a hard time reading this. I guess the top line is income?

First, CUT THE CABLE, not necessary. $360 for gasoline seems a bit excessive.

Wow, you spend a ton on child care, over $1600...but it appears you only have one income of $60K or so...are you a single parent?

Could you maybe eliminate the after school care by going to work earlier..if this is a possibility.

We have kiddos under 5 years, one starts school this fall, and the good thing about my wife's schedule and mine is that we work opposite shifts of each other. We save a ton on child care but I only get to see her really 3-4 days a week depending on her weeks schedule.

[chitleah]

If I cut back on the rent I get a place I dont wont to raise my kids
food - i have a 3 month old so formula and diapers are expensive
cable - have to have internet for work so tv is $50 a month so I could save $50
gas - driving from rancho to la jolla daily in a ford edge
child care - for a 3 month old its around $325 a week and then I have a 6 year old and he needs after school care. please by all means tell me about a cheaper place
im not a single parent. we would make around $100,000 a year
power may be cheaper - im from GA and it costs me $400 a month so I cut in half

[malcorub16]

I see, line 4 is two monthly incomes of $3186 for a combined monthly income of $6372 net. Where exactly is "Rancho?"

[chitleah]

Originally Posted by malcorub16

I see, line 4 is two monthly incomes of $3186 for a combined monthly income of $6372 net. Where exactly is "Rancho?"

rancho bernardo

[moved]

You'll have to figure out where to cut somewhere.

[malcorub16]

I see, there are more than a couple of Rancho's around here....Rancho Santa Fe, Rancho Bernardo, Rancho San Diego, Otay Rancho, 4S Rancho, Scripps Rancho...so just want to be sure. You might find a cheaper rentals in Mira Mesa and it is alot closer to La Jolla than Rancho Bernardo....so much so that you might not even need to get on a freeway from Mira Mesa. Its not a bad neighborhood, its just a little older and the older part does not have HOA's so it affects property values. You would save on gasoline and rent. The schools there are decent...not GREAT, but good for families on a budget living in Northern part of the city.

Also, have you considered in home babysitting. It might be cheaper than paying day care rates and after school care. The nanny could pick up jr from school for you. Of course, it depends what you can negotiate with the sitter.

An dual income of $100K is tough, you will be just getting by. To live comfortably in SD on dual incomes, each parent would have to make around 70K per year for a combined annual income of $140K. Of course, living comfortably is subjective, but the general consensus around here is $140K in a decent house/neighborhood so the family can save for a rainy day.

[Ragnar]

You may also want to consider selling that Ford Edge and paying cash for something cheaper and more economical for commuting like a used Civic or Corolla. If you need more cargo space look for a hatchback like a Mazda3 wagon or Toyota Matrix. I realize that you are a family of 4, but generally two small kids fit just fine in a smaller car (mine do).

Selling the Edge could remove or reduce your monthly car payment, as well as reducing your monthly gas costs.

Or keep the Edge but pay it off and have no car payment at all!

Also remember that that high daycare bill is temporary. The rate will go down as your youngest gets older, and eventually you'll be paying after school care only. In the short term, you may be able to find cheaper daycare if you continue to look around, but you need to make sure the care is good, and the logistics fit your lifestyle. In my city, we just switched my 3-y/o son to a place that's easier to get to, rated higher and costs $12/day less. For the number of days we need each month, that's ~$150/mo. savings!

I'm finally starting to see the light at the end of the dark daycare expense tunnel and it's very exciting for sure!