Savings at Seattle
How I expect to save at Seattle with a wife and 2 year old. Renting house 2 bhk near Redmond. I have a car with loan paid off. TC 189k
Wtf is Richmond?
Oops
Are you implying you spend most of the 189k? Try break it down to 1) retirement saving account contribution; 2) rent and bills; 3) auto loan payments; 4) other spendings I am interested in how you spend all these money. Planning to have kid next year and would like to learn other’s experience regarding to expense spike.
I have 2 year old half a play school should be good for her. I don't know how much does it costs
That's great how much it costs typically..
Did you mean that you don’t know how you are expected to be able to save money? Because if so, I don’t think 189 TC is too little to do that in your current situation. I grew up with parents making 10% of that and with more kids. It’s all about how much you spend on things you don’t need.
I am asking how I can save on that..
With frugality in mind you should be able to save ~50k a year, save while you can, good education will only become more expensive in the future!
Cool that's makes sense if I save 4k every month
Spend less or the easier option: make a lot more.
You shouldn’t be spending more than 2k + rent. Rest all savings
Max out 401k and ESPP (assuming Microsoft). Don’t spend your bonus and stock awards. Rest is your to spend.
That's great idea too..how much could be bonus award for L62 would look like..
Spend less
^ This. Only “secret” to saving is to spend less than you earn. Keep that up long term and you’re in great shape.
Actually, a lot of times it has more impact to focus on earning more, rather than spending less