You can certainly live on less, but it won't be easy if your goal is to raise a family in a big city, save for your children's education, save for your own home and save for retirement (so you can actually retire at a reasonable age).
Includes 2400 per month for childcare, 2000 for preschool, almost 8000 per year for vacation, and nearly 4000 per month for mortgage. Don't forget 1000 per month for college savings accounts.