Hello all,
I would really appreciate some advice on marking our finances more mustachian. We have about $101K in student loans. Together we make about $5,700/month. I'm self employed, and make $50/hour doing web development. I've got contracts that provide about 20 hours a week right now, but that should increase soon. My wife is a PhD student, and makes $26.5K/year. We rent, and have one car (2002 Saturn SL1, paid off).
Here goes...
Savings:
Emergency fund: $1,000
Roth IRA: $3600 ($2,750 mine, $850 wife's). Not actively contributing.
Costa Rica fund: $1K (wife has required internship for PhD, so we're doing it in Costa Rica. Trying so save up $4k by May. Wife applied for a grant so we may not need this, but we want to go even if we don't get the grant.
Debt:
Credit card $1500 @ 8.99% (remaining after wedding/honeymoon in June):
Student Loans: $101K ($14K @ 7.9%, 60K @ 6.8%, 11K @ 6.5%/deferred, 16K @ 5%)
Income after taxes: $5,700/month ($3,700 mine, $2,000 wife's)
February expenses: $5271.64
Cash expenses: $1970.56
Rent: $1,050 (I can walk to work, and my wife can ride the bus though I usually drive her to/from work every day).
Student loans: $750 (minimum payments, wife's are deferred until she graduates in ~3 years)
Health insurance: $50.56 (we pay extra for a better dental plan. I might lower this when we have the opportunity)
Spanish lessons: $120/month
Spending: $1197.35
Entertainment: $37.66 (movies, netflix)
Eating out: $595.37 (yikes)
Coffee/tea: $96.67 (also yikes... mostly me)
Art Projects: $393.65
Groupon for ski passes near my parent's house: $74
Work/education: $383.52
Books: $175.05
Business: $200 (mostly hosting, yearly payment)
Office supplies: $8.47
Car: $642.44
Repairs: $423.09 (loose left tie rod, leaking transmission fluid)
New keys for car: $98.38 (key/remote unlock for wife plus a spare key)
Gas: $68.97
Insurance: $52
Fixed expenses: $240.10
Cellphones: $87.11
Internet: $29.99
Electric/Gas: $123
Variable/irregular expenses: $837.67
Parking: $16.75
Groceries: $383.14
Health: $56.85
Household supplies: $157.98 (we redecorated and bought some furniture on craigslist)
Pets: $82.32 (water fountain for cats, play pen for chinchillas)
Travel: $7.95
Vet: $43.60
Water: $89.08 ($60/3 months for tap, $20/5 months for spring water)