- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: How does a family do it financially
Posted on 6/5/22 at 6:55 pm to StringedInstruments
Posted on 6/5/22 at 6:55 pm to StringedInstruments
quote:
Families don’t do these things.
Most*
0
Posted on 6/5/22 at 6:55 pm to tigerbacon
I absolutely count my blessings every morning when I wake up because I've been on medical leave from work for the last 18 months. I had short term disability through my employer that was a little over $400/week to float me for the first six months, but since then I've been living on my savings and totally pinching pennies. Saving gas right now is the big thing - I don't go to town just to run one errand, I combine several and usually couple that to a doctors appointment. Leisure driving (which I love to do - especially going to the MS Coast) has been out of the question. I don't even go to the gym unless I've got other things to do like going to the grocery and pharmacy. It sucks, but I'm spending very little money right now and hopefully when I get cleared by my doc in a week or two I'll be able to go back to work and replenish my savings. I can't stress enough to people how important it is to have savings in the event of something like what I'm going through.
Posted on 6/5/22 at 6:58 pm to CajunDoc
So we bought our house 9 years ago in one of the best neighborhoods in EBR. Our house has more than doubled in value. Our employers match 100% up to 10% of our monthly take home. And I meant money deposited into my account every month.
We do go on 2-3 nice vocations a year.I just fill bad for families. I have friends with 2-3 kids and they make a combine income less than 70k
I drive a sports car with 85k miles on it, and the wife drives a 4Runner with 90k miles so it will be awhile like a decade before we even think about buying a car. We do plan on buying a lake house in 10ish years. Trying to decide which lake we want to retire to. The lake house won’t be in the south though.
We do go on 2-3 nice vocations a year.I just fill bad for families. I have friends with 2-3 kids and they make a combine income less than 70k
I drive a sports car with 85k miles on it, and the wife drives a 4Runner with 90k miles so it will be awhile like a decade before we even think about buying a car. We do plan on buying a lake house in 10ish years. Trying to decide which lake we want to retire to. The lake house won’t be in the south though.
Posted on 6/5/22 at 6:59 pm to Horsemeat
Hoping you get through that BS brother and come out smelling clean on the other side. We are rooting for you 
Posted on 6/5/22 at 6:59 pm to lsupride87
OK... At current rates, with 5% down, an 1800 payment is a 335k house.
Back to the topic, many people just make themselves house poor. Regardless of income, people think they need much bigger than they truly need. They then create a huge bill that then runs the rest of their lifestyle.
Back to the topic, many people just make themselves house poor. Regardless of income, people think they need much bigger than they truly need. They then create a huge bill that then runs the rest of their lifestyle.
Posted on 6/5/22 at 7:01 pm to HeadyMurphey
quote:
At current rates, with 5% down, an 1800 payment is a 335k house.
Without insurance or property taxes
Posted on 6/5/22 at 7:03 pm to TchoupitoulasTiger
quote:
Those target date funds…money just leaks out from those things
Referring to the fees?
Posted on 6/5/22 at 7:04 pm to tigerbacon
(no message)
This post was edited on 6/6/22 at 11:18 am
Posted on 6/5/22 at 7:04 pm to TchoupitoulasTiger
quote:
Only contribute enough to get the maximum employer match. Put the rest of your saving money in an IRA.
There are income limits for deducting IRA contributions. If subject to those limits, why not max out the 401k?
Posted on 6/5/22 at 7:05 pm to Rize
quote:
I know people like that.
Not that much but my ex brother-in-law used to clear over $100K, lived in a single wide, drove a 98 Dodge Dakota and had to visit payday loan places every month.
Posted on 6/5/22 at 7:06 pm to danilo
quote:
Referring to the fees?
Well, they put you in too many bonds at a fairly young age for one which have a lower rate of return than the stock market historically.
Posted on 6/5/22 at 7:07 pm to lsupride87
Was just coming to say this. That’s literally almost exactly my stats. And it just gives my wife less money to blow on the first paycheck of the month. I pay more in childcare for my two kids than my $1800 mortgage.
Posted on 6/5/22 at 7:07 pm to fallguy_1978
quote:
The average American thinks luxury items are necessities.
This. Go check out the average mother on welfare. I guarantee she has the latest iPhone, cable, nails and hair did, but will complain about not being able to afford food for her babies.
Posted on 6/5/22 at 7:08 pm to Mingo Was His NameO
Good point, I forgot about those
What I was really trying to point out is that my house is valued around 310k, I put a small down payment. With taxes and insurance, I pay less than 1600.
Thats less than 10% pretax. It serves my family well.
What I was really trying to point out is that my house is valued around 310k, I put a small down payment. With taxes and insurance, I pay less than 1600.
Thats less than 10% pretax. It serves my family well.
This post was edited on 6/5/22 at 7:13 pm
Posted on 6/5/22 at 7:08 pm to tigerbacon
My husband and I no longer have children at home and we have the same income. When the kids left we started eating dinner at restaurants vs. a strict grocery budget cooking at home, we save and invest a way bigger percentage, travel budget increased at least 3 fold, etc. We have never had big credit card debt and never lived house poor even with children at home. My kids all have college degrees and bigger houses than the one they grew up in and much nicer cars. And only one has a child.
Posted on 6/5/22 at 7:09 pm to docTQ4
quote:
I pay more in childcare for my two kids than my $1800 mortgage.
Daycare ate our lunch when we were younger. This too shall pass. You won't pay it forever although I have no solution for the costs.
Posted on 6/5/22 at 7:10 pm to Chucktown_Badger
Yes they do. My wife’s sister and husband makes slightly less than us with no kids. They have two truck payments for 1200 a month and their mortgage is more than double ours a month and they are living paycheck to paycheck
Posted on 6/5/22 at 7:11 pm to tigerbacon
Single income family of 6- i make $130k- we do ok - have higher CC debt bc the last job was with the state so we had incurred a ton but we chunking away at it - the kids are getting older so the wife will be going back to work soon
Posted on 6/5/22 at 7:14 pm to tigerbacon
It’s all about budgeting carefully my friend
Posted on 6/5/22 at 7:17 pm to HeadyMurphey
quote:
my house is valued around 310k
quote:
I pay less than 1600
Ok, but what did you pay for it?
Page 6 of 13
Popular
Back to top
Follow TigerDroppings for LSU Football News