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Started By
Message
re: How does a family do it financially
Posted on 6/5/22 at 7:14 pm to tigerbacon
Posted on 6/5/22 at 7:14 pm to tigerbacon
It’s all about budgeting carefully my friend
0
Posted on 6/5/22 at 7:32 pm to tigerbacon
Make more money.
That’s how I do it
That’s how I do it
Posted on 6/5/22 at 7:33 pm to tigerbacon
Don't buy alot of shite you don't need... buy cheaper or used shite you do need. Don't eat out.
Posted on 6/5/22 at 7:35 pm to tigerbacon
Well..
They can't afford their dream cars
They don't max out their 401k
They probably don't eat out 3x a week
They probably take cheaper vacations than you (if any at all)
They probably are loaded up on debts
They can't afford their dream cars
They don't max out their 401k
They probably don't eat out 3x a week
They probably take cheaper vacations than you (if any at all)
They probably are loaded up on debts
Posted on 6/5/22 at 7:36 pm to tigerbacon
quote:
Was just thinking the average middle class income is 80k a year for a family of 4-5. How do they afford life?
That’s a wide range based on where you live but generally 80k for a family of 5 is not a model most should aim for
Posted on 6/5/22 at 7:41 pm to tigerbacon
They don’t spend 18% of their income on a mortgage. In your case, that’s an almost $2,000 a month house payment.
frick.
That.
My wife and I make more than you and yours and our mortgage is $1,280 a month including taxes and insurance. We have two children and we save $1,550 a month, spend $600 a month of her car note, and we eat out about twice a week. You just gotta live beneath your means and learn to be happy with what you have.
Y’all can downvote this all you want. Doesn’t bother me. I’ve come to realize that 90% of this board consists of 20-something year old retards with unrealistic views of life. Live about 10-15 more years then we can have a serious conversation on this topic. In my opinion you shouldn’t have a $2,000/month mortgage unless your income is $200-200k a year. Two thousand dollars a month for the house is ridiculous.
frick.
That.
My wife and I make more than you and yours and our mortgage is $1,280 a month including taxes and insurance. We have two children and we save $1,550 a month, spend $600 a month of her car note, and we eat out about twice a week. You just gotta live beneath your means and learn to be happy with what you have.
Y’all can downvote this all you want. Doesn’t bother me. I’ve come to realize that 90% of this board consists of 20-something year old retards with unrealistic views of life. Live about 10-15 more years then we can have a serious conversation on this topic. In my opinion you shouldn’t have a $2,000/month mortgage unless your income is $200-200k a year. Two thousand dollars a month for the house is ridiculous.
This post was edited on 6/5/22 at 8:29 pm
Posted on 6/5/22 at 7:42 pm to tigerbacon
Budget budget budget. It’s not hard. You figure shite out as you go along.
Posted on 6/5/22 at 7:55 pm to tigerbacon
Honestly, what you’re asking is a fair question that I think about all the time. My wife and I make about double (totally different COL so that’s not a brag it probably comes close to evening out) and I don’t get how you properly raise a child.
Posted on 6/5/22 at 8:02 pm to tigerbacon
Financial Peace University by Dave Ramsey
Posted on 6/5/22 at 8:07 pm to tigerbacon
Travel ball NIL
Posted on 6/5/22 at 8:13 pm to tigerbacon
Luxuries = Necessities for too many
Posted on 6/5/22 at 8:19 pm to tigerbacon
Girlfriend and I make about $250 together and feel that we are barely middle class in Dallas. We both put away decent savings each month and eat out about 3 times per week but besides that pretty thrifty. Can’t imagine trying to have kids and $20k per child a year in day care fees
Biggest problem right now is housing. Decent house in the suburbs is $500-750k which is astronomical
Biggest problem right now is housing. Decent house in the suburbs is $500-750k which is astronomical
This post was edited on 6/5/22 at 8:24 pm
Posted on 6/5/22 at 8:20 pm to tigerbacon
A family of 4 - 5 is life. I bet when you have mouths at home the paychecks mean more.
Posted on 6/5/22 at 8:46 pm to tigerbacon
We don't buy "dream cars".
Posted on 6/5/22 at 9:02 pm to tigerbacon
If you're not making 200k by age 30, you need to reevaluate your life.
Posted on 6/5/22 at 10:30 pm to tigerbacon
Budget your money correctly, cut the cable cord, eat out only on special occasions, don’t have 25 monthly subscriptions…there’s a lot of fat that you can trim.
Posted on 6/5/22 at 10:34 pm to tigerbacon
I didn’t buy my “dream car.” Unless you have FU money a luxury car is about the dumbest thing to flush money on. Those cars wre my kids’ tuition.
Posted on 6/5/22 at 10:40 pm to tigerbacon
quote:
Was just thinking the average middle class income is 80k a year for a family of 4-5. How do they afford life?
For one, maxing out your 401k would be 40k combined for you two. So either you are lying or you are stupid to realize where the money will come from.
Posted on 6/6/22 at 1:06 am to tigerbacon
Sounds like you are overspending. Have you ever ran a scenario where you live off of the smallest check and save the rest? Most people are blowing money on unnecessary household expenses. Rethink your budget. Rethink your lifestyle. You failed to mention what state you are in so we at least could consider cost of living.
Posted on 6/6/22 at 2:30 am to tigerbacon
I am retired and my wife is a couple of years away from Medicare. I get a supplemental through my last employer. I have to do that to get insurance for her. The total for both policies is $1650 per month. Our car insurance is another $2700 a year. Our home insurance is $1500 a year. We both have a $2500 deductible before our health insurance covers a dime. Not even office visits. That is more than I get from SS. Some people I know get way less from Social security.
But the govt. has money to throw away. We are still okay for now. But I feel for people who were stretched to the limit. Those people who work for minimum wage or suffering.
But the govt. has money to throw away. We are still okay for now. But I feel for people who were stretched to the limit. Those people who work for minimum wage or suffering.
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