Hey guys, 1st time poster here!
Since some people are listing there budgets, I'd thought I seek advice/feedbacks too. Again, my soon to be wife and I are 28 with this budget:

Currently, combine take home $7100 (12% and 9% deductions into 401k. also: tax,medical and more taxes!)


Mortgage -2300
student loans -600.00
car payments -343.00
Cable/internet -100.00
Gas,electric, water,other utility -500.00
Groceries/going out to eat -500.00
Car fuel/ins (fiancee is cover by company) -280.00
Entertainment(varies) -150.00
Nest Egg/Emergency Funds -800.00
Roth IRA -300.00
Mad Money(personal accounts) -400(200 per person)
Credit card expenses allowed(paid off every mo) -600.00

This totals 6873, with remaining of $227.00 of extra spending or moving it into our Nest Egg. I know things will vary every month, but I wanted to know if I have a good grasp of our budget. I know we should be a bit more aggressive in the savings and maybe reduce the spending of credit card expenses. Should we save more? Am I missing anything? We'll have 3 saving accounts: 401k,roth,Nest egg/emergency and 2 accounts with: combine account spending and personal account(cant say what to buy). We just want to be prepared for our monthly budget when we live in a new house and 3-4 years later also have kids. Also not forget travel 2 times a year. I'd just want to make sure there's no RED flag in my budgeting.


Thanks guys!

Your budget looks very good to me. The fact that you are able to budget for $800 to an emergency fund each year, and contribute to your retirement tells me that you are doing a very good job.

The only thing that caught my attention was how much your mortgage payment was. Are you in a larger house or do you have a bad interest rate on your mortgage? This is the only thing that could get in the way down the road once you decide to have children.

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-Jesse

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What exactly is going on the credit card every month that would take $600. You already list groceries, entertainment, and mad money.

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Phoenix Life Insurance / Arizona Auto Insurance

I think you have a fairly comprehensive overview of you finances. I would echo choicearizona's comments on what is spent on credit. Exsisiting bill perhaps? But nice to see you budgeting for a nest egg

My questions are with the mortgage and the credit card as well. And the utilities - I would think cable/internet would be included with that.

If you're paying off the credit card, I'd put that extra money you mentioned toward that and stop paying interest. Then do what you'd like with that money - I would recommend saving it or putting more towards the payments of the house/cars, but of course that's your decision.

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-Crystal-
Our financial motto: Needs vs. Wants

I think you should invest at least 10% of your gross wages and try to be more frugal with the other 90%. You should have about 20,000 in your EF after paying off your existing debt. If you are a two income family, you should set your living expenses to fit the higher wage earned and use the others for largely investing then purchasing stuff.