FYI: Daycare costs too much.

[Jumpem]

cut out the house phone.
cut up your credit cards. to be carrying a monthly payment of 100 bucks you must have 5K on it.
500+ bucks for a car payment? wtf do you drive a luxury car? sell it and buy something cheaper. i just bought a 2007 ford edge pickup for my kid and the payment she makes to me is 197.00. great truck and i almost kept it for myself. you would save close to 400 a month in payment and insurance reductions.

pay down the student loans and credit cars to get that monkey off your back as fast as you can. it might mean drinking koolaid with no sugar but sacrifices need to be made.

Dave Ramsey is in my mind a hero. he knows what the hell he is talking about and i highly suggest you follow his baby steps for finances.
http://www.daveramsey.com/new/baby-steps/

Baby Step 1
$1,000 to start an Emergency Fund

An emergency fund is for those unexpected events in life that you can’t plan for: the loss of a job, an unexpected pregnancy, a faulty car transmission, and the list goes on and on. It’s not a matter of if these events will happen; it’s simply a matter of when they will happen. Learn more

Baby Step 2
Pay off all debt using the Debt Snowball

List your debts, excluding the house, in order. The smallest balance should be your number one priority. Don’t worry about interest rates unless two debts have similar payoffs. If that’s the case, then list the higher interest rate debt first. Learn more

Baby Step 3
3 to 6 months of expenses in savings

Once you complete the first two baby steps, you will have built serious momentum. But don’t start throwing all your “extra” money into investments quite yet. It’s time to build your full emergency fund. Learn more

Baby Step 4
Invest 15% of household income into Roth IRAs and pre-tax retirement

When you reach this step, you’ll have no payments—except the house—and a fully funded emergency fund. Now it’s time to get serious about building wealth. Learn more

Baby Step 5
College funding for children

By this point, you should have already started Baby Step 4—investing 15% of your income—before saving for college. Whether you are saving for you or your child to go to college, you need to start now. Learn more

Baby Step 6
Pay off home early

Now it’s time to begin chunking all of your extra money toward the mortgage. You are getting closer to realizing the dream of a life with no house payments. Learn more

Baby Step 7
Build wealth and give!

It’s time to build wealth and give like never before. Leave an inheritance for future generations, and bless others now with your excess. It's really the only way to live! Learn more

The credit card is down to $5k. It was smuch higher. It is college debt from my wife. We have paid off alot of debt in the last year, and built up more savings.

The car is a mid level 2010 Outback. I don't buy used, as I drive too much. I buy new, and sell it in three years when the 100k warranty is about up. We do cut corners here by having only a single vehicle and commuting together.

We already do most of the steps you listed. I plan to have the student loans gone in five years, and the house paid off five years after that.

I'm not sure why you think I don't understand finances just because I have alot of expenses.

 

[Bateluer]

What? Just use the TV for day care like everyone else.

 

[JS80]

Just because you can afford something doesn't make the cost of it any less absurd.

Except when you break it down, daycare costs aren't "absurd"

 

[mcmilljb]

Except when you break it down, daycare costs aren't "absurd"

Well it's not absurd when you put it like that.

Actually I think it's the sticker shock. "WTF? I have to pay $100-200+/week for someone to watch my precious child?" I'm surprised more smart and able women do not decide to be a "day care worker" for their child and their friend's children if they want to be a stay at home parent. You can make a few bucks to make up for lost pay, and your friends get the benefit of having someone competent watching their kids. It is not for everyone, but I could see some women with the entrepreneurial spirit to pull it off.

 

[Turin39789]

Update - This just in: Stouts costs too much.

 

[Powermoloch]

pretty cheap imo