I'll play...

[Deleted]

Thanks for sharing. What do you plan to do when you pay off the car? Also, does this all add up to 0?

[SJ]

Thank you for sharing!

One thing that jumped out at me is your DH's SL. at 6% and with a total balance of only $8K, I'd be tempted to pay it off with cash savings.

[Deleted]

What is your gross? Just comparing our tax situations...

[kadams767]

This isn't really about your budget, but I know before you had your baby you were struggling with your firm and going back after maternity leave. Any updates? Are things working out?

[h]

My H spends a similar amount on haircuts as your H, and we make significantly less money and live in MCOL, so it is probably far less justifiable.

I agree with sarajoy about paying off your H's student loan with cash.

How old are you? What is your retirement picture like?

[Deleted]

Thanks for sharing! I agree with pp about paying off the car loan and DH's SL if you're looking to increase savings.

[auberge]

Dec 19, 2012 18:20:17 GMT -5 littlespitfire said:

I'm almost 33. My retirement picture is not good! This is where I fail at MM. Long story, but I was really bad with money for a long time. Right now I have less than $100k saved. This is my secret shame.

Don't be ashamed. You're young and make a good income. Get it on girl! You can do it!

[Deleted]

I am salivating at your take home--it's interesting to see how it all shakes out.

I too, would want to get rid of that 6% loan, but I understand what it's like to manage a budget with a cash hoarder.

thanks for posting!

[h]

Dec 19, 2012 18:20:17 GMT -5 littlespitfire said:

I'm almost 33. My retirement picture is not good! This is where I fail at MM. Long story, but I was really bad with money for a long time. Right now I have less than $100k saved. This is my secret shame.

Don't feel bad! I am 35 and only have $150K in my 401(k). And I have maxed out for years--I was just in school for a long time, don't get a match, etc.

[auberge]

auberge's inside voice: No housecleaner at this income, no hell no!
LOL

[auberge]

Dec 19, 2012 18:25:05 GMT -5 littlespitfire said:

Dec 19, 2012 18:24:17 GMT -5 auberge said:

auberge inside voice: No housecleaner at this income, no hell no!
LOL

Oh, crap! I forgot the housecleaner!!

Was $200/month (once every 2 weeks), now $400/month (weekly)

whew, glad that's settled.

[h]

Dec 19, 2012 18:24:22 GMT -5 littlespitfire said:

hens, my DH was at a firm that matched (in a different region) for 5 years and his is in great shape - I am so jealous, because firms in this area never match.

That's awesome. My DH's current employer doesn't even offer a 401(k), let alone a match, so he is in no better shape than me. I hope we aren't just fucked.

[kadams767]

Dec 19, 2012 18:24:22 GMT -5 littlespitfire said:

hens, my DH was at a firm that matched (in a different region) for 5 years and his is in great shape - I am so jealous, because firms in this area never match.

Do they not offer any contribution to your retirement? I am always fascinated that firms don't offer anything, but I guess they figure salary makes up for it?

[h]

Dec 19, 2012 18:31:48 GMT -5 kadams767 said:

Dec 19, 2012 18:24:22 GMT -5 littlespitfire said:

hens, my DH was at a firm that matched (in a different region) for 5 years and his is in great shape - I am so jealous, because firms in this area never match.

Do they not offer any contribution to your retirement? I am always fascinated that firms don't offer anything, but I guess they figure salary makes up for it?

My firm doesn't, and it seems like many/most don't.

[Deleted]

I feel so underpaid.

That's all I got.

Xoxo,
I'd be a poor lawyer without DH

[h]

Are you and your H both attorneys at firms? I am just being nosy now...

[StJess80]

Wow. I can only dream of a budget like that.

But it looks like you are doing good!

[kimibrighteyes]

Thanks for posting? Do you give to charity? It occurred to me a couple of years ago (thanks MM) that I wasn't giving much and i tried to up that and make it more regular.

[ijack]

How is daycare so low?

[ijack]

Are you in NY or do I have you mixed up with someone else? For one we paid $1800/m but I was assuming you had a higher COL.

[Deleted]

Dec 19, 2012 20:00:13 GMT -5 BirdGirl said:

Dec 19, 2012 18:31:48 GMT -5 kadams767 said:

Do they not offer any contribution to your retirement? I am always fascinated that firms don't offer anything, but I guess they figure salary makes up for it?

I've been told that it violates profit sharing rules, though I don't know if it's true. The salary certainly helps, but it doesn't directly correlate b/c an employer match is tax free. I am currently working at my first job (gov) with a match.

believe me, the tax free match I get does nothing to compensate for the salary discrepancy between mine and OPs, and I believe we are the same year of practice.

[pacificrules]

Thanks for posting! It's really interesting to see other people's situations.

[Deleted]

Dec 19, 2012 20:00:13 GMT -5 BirdGirl said:

Dec 19, 2012 18:31:48 GMT -5 kadams767 said:

Do they not offer any contribution to your retirement? I am always fascinated that firms don't offer anything, but I guess they figure salary makes up for it?

I've been told that it violates profit sharing rules, though I don't know if it's true. The salary certainly helps, but it doesn't directly correlate b/c an employer match is tax free. I am currently working at my first job (gov) with a match.

I have never heard of a large law firm besides mine contributing to attorneys' 401(k)s (and mine isn't a match -- it is safe harbor. plus my firm is weird because it is very foreign). My old firm matched staff contributions, but not attorneys. I think because it is tricky with highly-compensated employees, but also because why would you match if no-one else does? Firms usually do stuff just because they have to because their competitors do.