From experiance I know that electric isn't always cheaper in an apartment.. hopefully it will be though. Find out if your electric company has an "equal pay" option.. that evens out our electric bill over the year. I have found that it really helps with the budgeting. With our company you have 2 options.. one for if you have lived there for less than one year, which averages the current month's bill with your previous bills at the same address. Your amount will change from month to month, however as the year goes on the change will be smaller and smaller... thus over the course of the year your bill will even out. Then when we were here one year, they take the average for the whole year and that is what we pay each month.

Other than that I would agree with everyone else.. try to pay down if not pay off one of your cars, and save as much of your income as you can before you quit. Do not get caught up in needing to buy everything for the baby before he/she arrives.. You might be surprised at what you can get for free or really cheap (check out freecycle & craigslist in your area), or be given as gifts!

Good Luck in your quest to be a SAHM!!!! You can do it.. I know you can!

I don't know if this was mentioned but you could cut out cable. We opted to not have cable (haven't had it in 6 years), instead we do Netflix (cheaper). I don't know what time of area you live in, but you could cut your home phone. My husband and I both have a cell phone and no home phone, it works well for us. I don't know what kind of internet you have, I'm assuming you have a cable package......so if this is the case you could get dial up for cheaper. That would get your phone/int/cable bill down.

Also, like others said, diapers are very expensive. Don't forget the small things, they add up.

The good thing about this is the baby is the first grandchild on both sides and the first great grandchild on my side. So I dont think we will pay for much! THey are already buying us tons of stuff!

The $250 car payment will be payed off in May so that will help out alot! We could cut out the cable but I am a PL consultant also and have the home phone as my "buisness line" and use it for only that. Keeps it seperated that way.

I do plan on breastfeeding always have not only for the cost savings but health reasons for the baby!

Thanks for the advice! I appreciate all of it!

While you're pregnant, buy a big pack of diapers and a jumbo box of wipes once a month. You'll have a nice stockpile by the time the baby comes. And your budget won't be suddenly slammed with the added expense of diapers on every paycheck. Or put the equal amount on gift cards and stow them away for anything you may need (diapers, tylenol, post-delivery items, etc).

Congrats on the baby (when are you due?) and great job with paring down your budget -- looks good!

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buy ans use cloth diapers so to avoid the huge cost of disposables. Just allocating $20 a month now for cloth will be more than enough to get you started and avoid the disposables.

Can you sell one of the cars? If you are going to be SAHM, then do you really need a second car? Cut cable for certain, or at least drop to basic.

Start living on one salary now, looks as if you need to make some cuts in order to do that thou, but it will give you good practice.

Good luck

Do you have any savings at all? If not, that $500 extra you have a month is going to something. It is important that you identify how that money is being spent now otherwise it might slip through your fingers again.

As others said, it is most important that you save, save, save money while you're still working. Budget a continuing savings amount after the baby comes. Pay yourself first.

Definately adjust your tax withholding - this year and next - based on your change in gross income. Re-calculate your budget but use your gross income amounts and deduct for taxes, etc. Taxes are NOT a fixed expense.

Once you are staying home with the baby, your utilities may not go down. Frankly, they might go up. And once you're cooking at home more, your grocery bill might go up.

On the car that will be paid off in May, contact the lender and find out what it would take to pay that off early. It will probably be less than $1000.

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"I've been rich and I've been poor but independently wealthy is where it is at."

Your budgeting looks good!
I wouldn't give up the car. Hopefully you can pay off the loan quickly.
Breastfeeding will be lovely, formula is so expensive.
I would cut the cable for sure. I would think about cutting off the phone (land line) if you've both got cell phones. Use generic diapers instead of the super expensive ones, wipes the same. Your gas expenditures will go down dramatically since you won't be driving too often. Good luck! Looks good

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You must be the change you want to see in the world ~ Gandhi

Since 1 is so close to being paid off that will be a luxury we keep. I would go crazy without access to a car.

[quote=MissLucie]Your budgeting looks good!
I wouldn't give up the car. Hopefully you can pay off the loan quickly.
Breastfeeding will be lovely, formula is so expensive.
I would cut the cable for sure. I would think about cutting off the phone (land line) if you've both got cell phones. Use generic diapers instead of the super expensive ones, wipes the same. Your gas expenditures will go down dramatically since you won't be driving too often. [quote]

Land line is used for my PL buisness so it is needed. I do have money coming in for that but not counting it as it is not the same every month.

Gas will stay the same, as me and DH work together. May go up slightly with the little driving I would be doing.