straightforward adjustments. I know it might seem daunting with just a single income, but you can do it.
Remove the daycare expenses. You're paying more for daycare than housing.
You can clothe and feed a young family on less than $900 per month, even if diapers cost $50 a box.
There are reasonable phone plans available for much less than $250 per month. Try Mint, Tello, etc.
Total Monthly Income - $4,167 ($50K salary)
After Taxes - $3,800
Tithing + Fast Offering - $450
Mortgage/HOA - $1400
Utilities - $200
Gas - $200 (one-person commute; note that a UTA monthly pass costs $85)
Food/Clothing/Diapers - $850
Phones - $50
Insurance - $200
Retirement/Savings/Travel/Entertainment/Misc. - $450
A small, young family can live comfortably with a $50K/year salary, especially if you're already in a townhome. Don't beat yourself up over retirement and savings goals when you're raising and providing for a young family.
Oftentimes a young family can get by with a single car, especially if you use public transport for work commute. Or, find a carpool group so that you are only using the car for commuting 2-3 days per week.
As you move up in your career and improve your income, opportunities will come. You and your spouse may find side hustles that create new and better savings, vacation, and recreation opportunities.