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re: Topic for younger couples (30-35)
Posted on 4/15/24 at 2:43 pm to lowhound
Posted on 4/15/24 at 2:43 pm to lowhound
quote:
Your math ain't mathing. What do you think this is? 2019 or something?
quote:
Now, Americans must earn roughly $106,500 in order to comfortably afford a typical home, a significant increase from the $59,000 annual household income that put homeownership within reach for families in 2020, according to new research from digital real estate company Zillow.
That's kind of my point. You COULD make it work if the salary is what OP mentioned, but that doesn't mean it will be glamorous. It's a crappy catch-22 that for most good paying jobs you have to live in an area with a higher cost of living making that good salary less.
Very lucky my wife has a good paying job that is fully WFH and we have a solid childcare situation. We could make life work on just one of our salaries, but it would suck.
0
Posted on 4/15/24 at 2:46 pm to danilo
quote:
People have 4 kids these days? Seems like 2 is now the norm
My mom and dad did. I was just saying what they did at their income level would be tough AF on the same income adjusted for inflation.
Posted on 4/15/24 at 2:55 pm to fareplay
10 years ago we were paying $45K for daycare for 3 kids (Fairfax, VA). It only got worse when they started high school.
Wife and I are both lawyers and still no way we could have maintained our modest standard of living if she stayed at home.
I blame hyperinflation after we left the gold standard.
Wife and I are both lawyers and still no way we could have maintained our modest standard of living if she stayed at home.
I blame hyperinflation after we left the gold standard.
Posted on 4/15/24 at 3:23 pm to fareplay
It is possible, but I don't think it's reasonable for at least 75% of the <35 population (75 percentile salary is $85,000 for age 35) unless you own your home outright. If your home was inherited, gifted, or you were able to pay it off prior to having kids, then that $2000/month goes a long way for cash flow and breathing room. After that, you're saving on childcare and likely eating out less since the SAH parent should be cooking.
If you bought your home in the past 3-4 years. Almost a guarantee that both parents are working.
If you bought your home in the past 3-4 years. Almost a guarantee that both parents are working.
This post was edited on 4/15/24 at 3:25 pm
Posted on 4/15/24 at 3:31 pm to notsince98
Dont drink alcohol
Youll save serious money
Youll save serious money
Posted on 4/15/24 at 3:36 pm to SpotCheckBilly
quote:
The single income family has been becoming more and more rare for decades. It can be done, but you will just have to live in a less expensive house, buy reliable cars and drive them forever, seldom go out to eat or go to concerts, and curtail other optional expenses.
Interestingly enough, this is exactly how everyone lived “in the olden days” (last generation) and yet somehow this generation of parents thinks it was so much easier to do then.
Posted on 4/15/24 at 3:39 pm to fareplay
how are you allowed to start threads on this website?
Posted on 4/15/24 at 3:45 pm to CortezTheKiller
quote:
People love to convince themselves that a single income household is impossible. It’s not. Depends on what you value in life. Period.
It's absolutely possible, but I would assume most people don't want to live in the boonies and send their kids to public school.
ETA: I tell my wife all the time that if she wants to quit working we can sell our house, move to rural Vermilion Parish, and send our kids to public school. She is not enthralled with that idea
This post was edited on 4/15/24 at 3:52 pm
Posted on 4/15/24 at 3:48 pm to jizzle6609
quote:
Dont drink alcohol
Youll save serious money
That's a big part of why I quit but unless you're drinking a LOT it's not enough to pay for your child's daycare or something like that. Not buying a 5th every week has saved me right at $1500/year. If you do the same with all your other useless vices/hobbies then yeah it's a good chunk of change.
Posted on 4/15/24 at 3:52 pm to notsince98
quote:
You just gotta get rid of the whole entitlement syndrome within the family to live comfortably.
Exactly! My wife won't tell the word NO to our kids.
When I was a kid, the default answer was NO to anything I wanted to do that cost money.
Posted on 4/15/24 at 3:54 pm to fareplay
Your parents just never told you how hard it was for them at times, honestly.
Posted on 4/15/24 at 3:55 pm to fareplay
go have a pre-flight panic attack pussy and stop with the shitty threads
Posted on 4/15/24 at 3:59 pm to fareplay
Make 210k a year. 2 kids. Only one car note. $500 house note. It takes every penny. We do take vacations and pay for private school though.
Posted on 4/18/24 at 2:47 pm to TigerBait2008
quote:
frick your threads
All your posts are saying “frick your threads” or “shite posts”
Look in the mirror shithead.
Posted on 4/18/24 at 2:50 pm to fareplay
quote:The wife and Scruffy are both doctors.
They all have solid jobs (6 figure plus) in Texas but now all have a kid to multiple kids and told their spouse that it’s unsustainable for single income. Kinda crazy our parents didn’t have to deal with this. The wives took it ok though since they all knew this was the expectation but the old days are dead even in the south
With where we have to live (subspecialty requires large university hospitals, so city living), home costs, childcare costs, simple living expenses, etc., we could not live on a single income.
Neither of us are exactly in the highest of paying subspecialties, considering we both started in pediatrics.
This post was edited on 4/18/24 at 2:53 pm
Posted on 4/18/24 at 2:52 pm to Gee Grenouille
quote:
Make 210k a year. 2 kids. Only one car note. $500 house note. It takes every penny. We do take vacations and pay for private school though.
The math doesn't math.
Posted on 4/18/24 at 2:53 pm to Scruffy
You both family medicine? In the rural living like kings no?
Posted on 4/18/24 at 2:56 pm to fareplay
quote:No.
You both family medicine?
Subspecialty through pediatrics for both. The negative is that our specialty choice limits where we can work.
We live extremely comfortably with dual income, but it would be significantly harder with only one.
This post was edited on 4/18/24 at 2:58 pm
Posted on 4/18/24 at 2:59 pm to Scruffy
I also think both spouses making equal money (or similar) makes it a lot harder
Posted on 4/18/24 at 7:39 pm to fareplay
We’re a one income family and have been ever since the birth of our first daughter. To each their own, but for us, we wanted our kids to have a mother at home. Definitely don’t fault others with whatever they decide. I make good money so it made sense for us.
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