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Posted on 4/10/18 at 11:28 am to fareplay
quote:
We make around 140k net a year(?) that may change cuz wife got a raise.
So now we can run some numbers.
Let's say you'll make $150k net.
Quick Smart Asset Estimated Take Home Pay: $8200
(How much are you paying for health insurance?)
Assuming your take home pay after insurance is $7500....
$2700 rent
$200 transportation (gas, car upkeep, trains/bus tickets)
$500 car payments
$250 car insurance
$1000 food
$500 fun
$500 extraneous shopping (shoes, clothes, etc)
$300 utilities
Just using very quick, rough ballpark estimates, you should spend about $6000/month living an easy, non-frugal life. That would still leave you with about $1500/month to save.
You could save $18k/year (and invest it but let's not go that far).
Average home price in SF is $1.2 million, so you need $240k just for the down payment. That doesn't include other closing costs.
So you'll have the money in about 12 years.
Move.
Posted on 4/10/18 at 11:28 am to fareplay
I have no idea how you can’t save with 140k net income. You need to track everything. Obviously eating out is going to be a decent chunk, but that shouldn’t be hindering THAT much money.
ETA: If this is SF, good luck. I can’t imagine saving for that
ETA: If this is SF, good luck. I can’t imagine saving for that
This post was edited on 4/10/18 at 11:29 am
Posted on 4/10/18 at 11:28 am to fareplay
quote:I laughed at this, then I did the math and it was 23 years ago.
This like 30 years ago?
Now I have the sads because I am old.
Posted on 4/10/18 at 11:28 am to StringedInstruments
Isn’t “net” take home?
Posted on 4/10/18 at 11:29 am to Evil Little Thing
Yes it is. His math is all kinds of messed up.
Posted on 4/10/18 at 11:29 am to fareplay
quote:
Let me rephrase,
2 professionals who also attend night school. We arent back home most days till 10
This some bonk shite if I ever did hear it.
Make some big meals on the weekend or throw a frozen roast and some taters and gravy in the crockpot on low when you leave in the morning, you can work it out.
The fact is you little lazy figgots don't like leftovers, end of story.
This post was edited on 4/10/18 at 11:30 am
Posted on 4/10/18 at 11:30 am to Evil Little Thing
quote:
Isn’t “net” take home?
shite. You're right. I didn't see he said "net." They could do it in 5 years, which isn't so bad.
Posted on 4/10/18 at 11:30 am to mikelbr
Crock pot.
/thread
/thread
Posted on 4/10/18 at 11:30 am to StringedInstruments
quote:
Average home price in SF is $1.2 million, so you need $240k just for the down payment
No, he doesn't. You don't have to have 20% down to purchase a house.
Posted on 4/10/18 at 11:31 am to fareplay
quote:
We make around 140k net a year(?) that may change cuz wife got a raise.
You make $140k net a year?
You should be good to go, even in SF. Your spending habits have to be the problem.
Posted on 4/10/18 at 11:32 am to Brageous
quote:
I have no idea how you can’t save with 140k net income
I don't think he knows what "net" is. And, while that makes him a bit of a financial idiot, the only thing worse would be someone who can't figure out how to save when he's netting 140k with no real debt.
Posted on 4/10/18 at 11:34 am to VABuckeye
quote:
No, he doesn't. You don't have to have 20% down to purchase a house.
While true, he’s going to end up with a $6-7k PITI payment if he puts nothing down on a million dollar house.
Posted on 4/10/18 at 11:35 am to moneyg
Let me specify
Net after taxes, not additional debt etc
Net after taxes, not additional debt etc
Posted on 4/10/18 at 11:35 am to Evil Little Thing
Yeah 5-10 percent is all fine and dandy for a house that’s 250-500k. California taxes may be pretty high, too. How far outside of SF could they realistically live is the better question.
Posted on 4/10/18 at 11:36 am to fareplay
quote:are you sure you're not getting "net" and "gross" mixed up?
We make around 140k net a year(?)
if you net $140k, that means you're grossing over $200k
if you're grossing $140k, you're netting about $95k, which coupled with your insanely high rent and eating out habits, may explain your financial woes
Posted on 4/10/18 at 11:36 am to Logician
My wife makes 110k and I make little over 90.
rent 2700
two cars 1100
student loans 600
food misc 2000?
rent 2700
two cars 1100
student loans 600
food misc 2000?
This post was edited on 4/10/18 at 11:37 am
Posted on 4/10/18 at 11:37 am to Brageous
quote:
Crock pot.
/thread
Without a doubt. From 2011-2015 I was working pizza 4-6 nights a week going through divorce AND bankruptcy for the first two. I know a thing or two about never being home AND being broke as frick.
My "Broke arse Bachelor Meals" were popular posts on the Facebook back then.
They usually consisting of a meat, veggie, broth/spices, and a lot of vulgarity. "Set that bitch on low when you head out for job #1."
My poor fat arse made some decent home-cooked meals for 3-4 days for about $10.
This post was edited on 4/10/18 at 11:38 am
Posted on 4/10/18 at 11:38 am to fareplay
Ok nm :)
This post was edited on 4/10/18 at 11:39 am
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