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If you make 80K, live on 40K, pay 12K in taxes, and save 38K in the next 12 months

Hrmm that adds up to 90k not 80k...

Anyway I assume you mean live on 40k, pay 12k in taxes and save 28k in the next 12 months. I agree it is possible, although very very tough. I guess it depends on if I have any extra expenses. For one thing, we need a new car. I know I know you think I shouldn't get one, but we don't have a suitable car for our 2 year old ever since he moved to a toddler seat. The darn seat will NOT fit in our car, our Truck we deem "unsafe", and our Van is on its last leg. So we'll probably buy an old station wagon and sell the Truck.

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