- 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
Monthly budget for family of 4
Posted on 7/4/19 at 7:04 am
Posted on 7/4/19 at 7:04 am
I always see people talking about not being able to make ends meet....but they have boats, golf carts, new cars etc.
What is the MB consensus on a comfortable budget for a family of four?
I think $5k take home is plenty.
What is the MB consensus on a comfortable budget for a family of four?
I think $5k take home is plenty.
22
Posted on 7/4/19 at 7:32 am to TopFlightSecurity
$5K take home for a family of 4?
Don’t see how you make that work with mortgage and day care.
Don’t see how you make that work with mortgage and day care.
Posted on 7/4/19 at 7:34 am to TopFlightSecurity
Location is a huge factor
Posted on 7/4/19 at 7:38 am to TopFlightSecurity
All about location
I could make 5k work if I downsized my home and put kids in public school
I could make 5k work if I downsized my home and put kids in public school
Posted on 7/4/19 at 7:56 am to TopFlightSecurity
$2000 mortgage
$1600 daycare
$2300 my credit card - includes all utilities, cable, etc
$1300 her credit card
$400 one car - about 6 months left
That’s about our spending. Then we have Roth IRAs, 401k, simple IRA for her, 529 plans
Daycare is the killer
$1600 daycare
$2300 my credit card - includes all utilities, cable, etc
$1300 her credit card
$400 one car - about 6 months left
That’s about our spending. Then we have Roth IRAs, 401k, simple IRA for her, 529 plans
Daycare is the killer
Posted on 7/4/19 at 8:09 am to TheOcean
quote:
Location is a huge factor
Posted on 7/4/19 at 8:26 am to TopFlightSecurity
quote:
I always see people talking about not being able to make ends meet.
This "keeping up with the Joneses" middle class mentality means that as income inches up just a little bit, those folks tend to start overbuying everything.
If you overbuy food (Whole Foods, y'all), cars and homes, even if you're frugal everywhere else, it is stupidly easy to go broke in America.
Posted on 7/4/19 at 8:47 am to Bonjourno
Daycare is very short term when looking at the big picture. Unless you over reproduce
Posted on 7/4/19 at 8:58 am to TopFlightSecurity
4K is plenty. But 5k doesn't hurt. That's excluding daycare though.
This post was edited on 7/4/19 at 9:00 am
Posted on 7/4/19 at 9:06 am to TopFlightSecurity
Can you break down your $5k budget? I’m interested to see how you allocate the money.
Posted on 7/4/19 at 9:17 am to TopFlightSecurity
I bring in about $6k a month take home, our budget has us spending $4k a month. Family of 4 with one in public elementary school and one thats in a mother's day out program 4 days a week. My wife stays at home for now.
Live in Lafayette.
Live in Lafayette.
This post was edited on 7/4/19 at 9:22 am
Posted on 7/4/19 at 9:29 am to iAmBatman
quote:
$5K take home for a family of 4?
Don’t see how you make that work with mortgage and day care.
No debt. Wife is staying home till our daughter starts school.
Posted on 7/4/19 at 9:30 am to TheOcean
quote:
Location is a huge factor
True. I'm in Georgia right now planning on retiring to Texas.
Posted on 7/4/19 at 9:36 am to TopFlightSecurity
I guess if you don’t have a mortgage/pay rent, no student loans, car note, and no day care then it’s doable.
Posted on 7/4/19 at 9:51 am to iAmBatman
quote:
I guess if you don’t have a mortgage/pay rent, no student loans, car note, and no day care then it’s doable.
You don't need to NOT have ALL those things to make 5k take home work with a family of 4.
There are financially responsible men out there that live a good life and pull it off.
Posted on 7/4/19 at 9:55 am to iAmBatman
quote:
I guess if you don’t have a mortgage/pay rent, no student loans, car note, and no day care then it’s doable.
I'd hate to see your budget
Posted on 7/4/19 at 9:56 am to TopFlightSecurity
quote:That varies greatly depending on location and family income. An engineer making 100k with a stay at home wife and two married lawyers making over 250k will have different budgets.
What is the MB consensus on a comfortable budget for a family of four?
Posted on 7/4/19 at 9:58 am to iAmBatman
quote:
I guess if you don’t have a mortgage/pay rent, no student loans, car note, and no day care then it’s doable.
I pay rent. No student loans because I'm responsible and worked through first year of college then did ROTC. No car payments because, wait for it, I'm responsible. No day care because we lived on one salary before having kids so we wern't counting on my wife's income.
Posted on 7/4/19 at 10:07 am to TopFlightSecurity
quote:
not being able to make ends meet....but they have boats, golf carts, new cars etc.
I think some people are VERY comfortable about debt.
Posted on 7/4/19 at 10:23 am to tiger91
quote:
I think some people are VERY comfortable about debt.
Is "comfortable" code speak for stupid regarding debt AND boats??
Page 1 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News