Our expenses are $7100 per month...
I just want to sense check if this is normal.
Our expenses are $7,100 per month with the new rate rise. $4500 mortgage, no children, 2 cars, 1 motorbike, dogs. We are paying so much in insurance (cars, bike, health, contents, home) but feel like we can't possibly cut down anything without either massive risk or massive misery.
Our household income is $7500 per month. This feels impossible. We don't have fun any more. We can't plan a wedding. There is near 0 buffer.
Yes, we have equity in the house and investments but what the actual fuck, life can't be this expensive??! What are your monthly expenses?
ETA: Everyone is commenting that this is not normal.
For context - made redundant day after finance was approved for the house. Had to take new job with pay cut.
There's no dining out or lifestyle creep. Our income is eaten up by insurances (home, contents, health, cars) and mortgage. We are ALDI loyalists, never go out. The only discretionary item in the budget is the bike (which is being sold) and Netflix.
ETA #2- Person 2 needs to work yes, but due to long term illness there are lots of challenges taking a proper job. The thinking was to sacrifice salary now and grow the business so that as they get worse, the business runs itself (w existing staff etc.)
Cars are old and not worth selling. Bike is going as I said. I'd rather sell a kidney before rehoming the dogs.
We need 2x modes of transport due to living rurally, and not great PT. We're also a bit too far out to bother renting out a room.