Topic Title: Punch me in the face already for having all these kids. 37 y/o looking for a larger house and vehicle for 4 kids. Went from 2 kids to 4 kids with birth of twins last month. This is probably overly detailed in some areas, and not as detailed as it could be in other areas. Time is at a premium right now as well with the newborn twins (i go to work, wife takes care of them, I come home, she sleeps, she gets up at midnight, I sleep), but will get better as they grow - one of the twins needs fed once every 1:30 due to reflux.
Income ($4,800/mo after deductions): $96K my salary, SAHM w/ $3K/yr (nano business), Passive investment income all goes back into the investments. Actual take home pay after deductions/401K/health plan/taxes/pension deduction/SS/medicaire/HSA = $2400 every 2 weeks - so say $4800/mo except for 2 months a year where it is $7,200. Tax refund is way too high, still playing with numbers due to all the kids, but about $4K/year interest free loan to the guvment.
Current expenses (everything approx $4800/mo):
Mortgage $900/mo, $100K left on the loan
Vehicles: 2012 Subaru Forester, $10,000 left on 0% loan (24 more months) 20K miles about $420/mo, 2005 Dodge Neon paid for 68K miles
Savings (which I consider an expense): $11K/yr in Roth IRA's (mine and wifes), $1200/yr to taxable, $25/mo to Lending Club, also 6% above the line for 401K (+5% employer match)
Tithing: 10% of net income (I'm cheating on the net instead of gross)
Groceries: $600/mo (includes baby stuff like diapers, formula - we breastfeed, but supplement)
Electric: $60/mo budget pay
Natural Gas: $60/mo budget pay
Water/Sewer/Garbage/Storm: $120/mo
Restaurants: $300/mo (has been high lately due to convenience since twins are around the clock care - time to cook has been low right now)
Gasoline: $150/mo
Car Insurance: $50/mo
Health Ins Copays: $300/mo right now, but should go down as twins appointments decrease
Cable Internet/TV: $76/mo
Miscellaneous: varies based on month, but say $200.
Assets: $240K in 401K
$100K in Roth IRA's
$40K in taxable
$3,500 in Lenders club
$20K in bank account
$4K in business bank account
About $70K in equity after real estate fees if I were to sell
Say $7K of equity in Subaru Forester
Liabilities: $100K, 4%, $900/mo PITI
$10,000, 0% Subaru Forester, 24 mo to go, $420/mo
Other info: I think I'm doing "OK" for my age on the asset side of things closing in on a half a mil, at least compared to the American public, which isn't much to brag about. Plan to be working due to the pension at 57 years old - if I quit on my own I get no pension. No real interest in directly funding college education for any of my kids - I did it on my own and would expect nothing less from them. Looking for a $2K/mo PITI mortgage (punch me hard!) and a mini-van, but my budget is pretty much equalized (coming in = going out) except for the 2 months a year where I get an extra paycheck and the tax refund - I do get a bonus here and there, but don't count on it - all of wife's business income goes back into growing the business. Cable TV/Interent can drop to $50/mo (need the internet for wife's business, but not TV). Tithing off limits (religious reasons, go ahead and judge). Subaru payments going away and health copays dropping to $100/mo or less would help alot. Housing is expensive in our area, and my wife wants us out of this school district before they are old enough. Restaurant expenses should go down to at least $200/mo. The tough thing with me is the wife and kids. Heck - I can live in a cardboard box, but my wife hasn't bought into that (just yet, haha!).
Specific Questions: Is it actually feasible to buy a larger house and a van? Any other ideas on cutting some expenses/raising income?