Who: Jim Thompson*, 35, a risk consultant in the banking industry, and Sue Thompson*, 35, a publicist
Annual Income: $155,000 combined
What Jim says about their budget
“One of the big goals Sue and I have for this year is to up our net worth.
We’ve got about $100,000 saved in a 401(k), IRA, and emergency fund, but I’m worried this still doesn’t put us on track for retirement. I’d love to know how to expand our portfolio, and earn a better return on our investments.
Beyond that I think our spending habits could use some improvement. Each month we run a credit card balance between $1,000 and $3,000. I know we need to get to a point where we’re canceling this out every month, but we have a lot of expenses that keep us from doing so.
That said, we aren’t excessive when it comes to spending on non-essentials or food. We save by shopping at Costco — something Sue says wouldn’t be as easy to do if she still lived in her hometown of New York. Fortunately, our Chicago apartment is big enough to house bulk purchases!
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