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Started By
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re: Here's a budget breakdown of a couple that makes $200,000 a year and yet is scraping by
Posted on 10/14/17 at 8:01 am to LSUBoo
Posted on 10/14/17 at 8:01 am to LSUBoo
quote:
I only pay about $150 more per year for two cars and two of us driving. In Louisiana with some of the highest rates in the nation.
Same here. My insurance rates are very reasonable in Louisiana but it's determined by your zip code with State Farm so it varies
0
Posted on 10/14/17 at 8:10 am to Salmon
quote:
living paycheck to paycheck doesn't mean maxing out 401k and taking 2 vacations a year
Yeah this article is shite.
Like what else would they be spending money on? They seriously include savings in a 401k and Vacations in thislike it's a Utility payment?
frick me running that's just makes the writer look ignorant as crap
Posted on 10/14/17 at 8:12 am to SundayFunday
quote:
Yeah this article is shite.
Like what else would they be spending money on? They seriously include savings in a 401k and Vacations in thislike it's a Utility payment?
frick me running that's just makes the writer look ignorant as crap
Actually it makes those of you who clearly didn't even look at the article ignorant. The writer didn't claim any of this.
Posted on 10/14/17 at 9:06 am to Brageous
quote:
I know it's San Francisco, but do they need a 700k home?
There are so many things to cut back on in this list. 3600 in home maintenance is just a bad year. It should not be that high.
That $700k home is probably 1200 sq ft
Posted on 10/14/17 at 9:11 am to BigSquirrel
quote:
Child care is out of control.
If you break it down, it’s not. These are 2 working professionals, so we can assume they have a nanny, either live in or hourly. 2k a month is $500/week, which is $100/day based on a 5 day work week.
Now obviously if it’s $2k/month on a weekend babysitter so the parents can have a date night that would be out of control, but I don’t think that’s the implication here.
Posted on 10/14/17 at 9:18 am to 632627
quote:
we can assume they have a nanny, either live in or hourly.
No we can't. Read the article. The prices refer to daycare, and the budget is pretty much on point for daycare around where I am. I would assume SF is comparable.
Posted on 10/14/17 at 9:44 am to Displaced
They aren't scraping by, they have a budget for everything. Scraping by, by definition means you can only get through by robbing Peter to pay Paul. Vacations, charity and children's lessons all come down to $15,000, then the 12k on foods?
This is silly.
Show me a guy who maxes out
cards to vacay, and skips savings for food and bills and I I'll show you someone scraping by.
This is silly.
Show me a guy who maxes out
cards to vacay, and skips savings for food and bills and I I'll show you someone scraping by.
Posted on 10/14/17 at 10:34 am to Mo Jeaux
quote:
No we can't. Read the article. The prices refer to daycare, and the budget is pretty much on point for daycare around where I am. I would assume SF is comparable.
It sounds like we’re both in agreement that $24k a year isn’t really that ridiculous for childcare in San Francisco.... be it a nanny or a day care facility.
Posted on 10/14/17 at 10:38 am to Mo Jeaux
quote:
Actually it makes those of you who clearly didn't even look at the article ignorant. The writer didn't claim any of this.
Ya, you can't plump this article on the OT without any background. The writer is a FIRE blogger. The idea was clearly to show how even when a couple is "killing it" they may not have the early/comfortable retirement that these types of bloggers discuss because of their spending habits and/or how easy costs can add up when seeking convenience or living in high COL areas.
It's not a woe is them article.
This post was edited on 10/14/17 at 10:40 am
Posted on 10/14/17 at 10:47 am to Coon
quote:
they have more than $5700 in disposable income. they're spending a ton on vacations, consumer debt, clothes, lessons. that's disposable stuff.
and lol at $50k house expenses. peopel is dum.
Came here to say this. Stupid, Stupid, STUPID!!
Since when are vacations not considered disposable income? I consider disposable income to be what is left over after budgeting for bills and living expenses (food, fuel, clothes, etc.). Hell, even clothes are disposable income. I don't have to buy clothes every month or even every year.
Posted on 10/14/17 at 10:51 am to LNCHBOX
A grand a month on food is just insane
Posted on 10/14/17 at 10:56 am to Displaced
I don't know if it's been mentioned... but that income tax number of $54,600 is complete bullshite.
Their federal income tax bill, when done correctly, would come to $37,844
If you add state taxes, that would be another $11,878. But you can deduct state taxes from taxable income when you itemize so the new total of both federal and state income taxes to be paid is:
$34,518 federal + $11,878 state =
$46,396
Their federal income tax bill, when done correctly, would come to $37,844
If you add state taxes, that would be another $11,878. But you can deduct state taxes from taxable income when you itemize so the new total of both federal and state income taxes to be paid is:
$34,518 federal + $11,878 state =
$46,396
Posted on 10/14/17 at 10:57 am to VerlanderBEAST
quote:
A grand a month on food is just insane
For a family of four? shite that's low.
My SO and I spend about $150 a week at least on groceries, so $600/mo.
Posted on 10/14/17 at 10:59 am to PrimeTime Money
Some counties and cities in California also have income tax
Posted on 10/14/17 at 1:00 pm to VerlanderBEAST
quote:
A grand a month on food is just insane
My grocery budget is $1,000/month for a household of 3. We were spending $1.200-1,400/month at times before I started keeping a closer eye on things and trying to stick to a budget. This doesn't include eating out.
Posted on 10/14/17 at 1:04 pm to Displaced
Lol at all the "OT ballers" showing they aren't ballers in this thread
Fin is the only one who has sense in this thread
Fin is the only one who has sense in this thread
This post was edited on 10/14/17 at 1:06 pm
Posted on 10/14/17 at 1:10 pm to 13SaintTiger
quote:
Fin is the only one who has sense in this thread
He thought the child care budget was out of whack, but it's pretty standard.
Posted on 10/14/17 at 1:15 pm to Mo Jeaux
quote:
He thought the child care budget was out of whack, but it's pretty standard.
Just lol at paying $24k for child care for one child.
Posted on 10/14/17 at 1:18 pm to 13SaintTiger
quote:
Just lol at paying $24k for child care for one child.
quote:
Lol at all the "OT ballers" showing they aren't ballers in this thread
Posted on 10/14/17 at 1:20 pm to Mo Jeaux
I have no reason to hide my income, my friend.
Doesn't mean I make dumb decisions with it.
Doesn't mean I make dumb decisions with it.
This post was edited on 10/14/17 at 1:21 pm
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