- 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: What is a good income to raise kids on?
Posted on 2/18/14 at 12:35 pm to Moustache
Posted on 2/18/14 at 12:35 pm to Moustache
quote:
You certainly can raise 1 kid on 70k and be comfortable. Two kids? ehhhh....you can do it, but it'll be tight and no more Hawaiian vacations.
I'm currently raising 3 kids on $75K (company pays 100% health insurance). I'm not going to lie, it's a struggle some months. Both cars are older than 5 years (I'm a decent mechanic), and long vacations don't happen often.
We made plans to do the "stay at home mom" thing until all 3 kids were in school. When the wife goes back to work in 2 years, we'll have an instant $50-60K boost to our income!
1
Posted on 2/18/14 at 12:40 pm to Moustache
Completely agree and well said.
Honestly, when I started looking into baby stuff I was freaked the hell out. Everything baby is expensive.
We live just fine off of that for now though, and in May we will add somewhere around 40k for a nurse in the Birmingham area.
In my eyes, that's 40k bonus to save and raise the kid since we are used to living off 1 income.
Honestly, when I started looking into baby stuff I was freaked the hell out. Everything baby is expensive.
We live just fine off of that for now though, and in May we will add somewhere around 40k for a nurse in the Birmingham area.
In my eyes, that's 40k bonus to save and raise the kid since we are used to living off 1 income.
Posted on 2/18/14 at 12:58 pm to jimbeam
quote:Yeah I'd say this if you want to go out to eat a couple times a week and go on a yearly family vacation.
150000
Posted on 2/18/14 at 1:01 pm to Ironbat31
quote:
what is a good salary to raise 2 kids, have a nice house, and do comfortable things. 50,000
Not even close. You still have to ridiculously save on that salary. You need at least twice that to live comfortably with a family, or at least my definition of comfort.
Posted on 2/18/14 at 1:14 pm to Moustache
I'll have a kid when I'm clearing 250 or so. Next 5-8 years
Posted on 2/18/14 at 1:14 pm to Vanilla Ice
Posted on 2/18/14 at 1:16 pm to hendersonshands
As said early they are people real out of touch of reality and what really matters.
My parents raised 5 kids putting us though private school and helped with some college expenses. Also we all had a vehicle to drive when we turned 16. They did this with my mom being a teacher ($20-35,000) and my dad a farmer (?? honestly don't know what my dad made, $70-100,000. It depended on yields of crop and the price of grain every year). 5 kids, and we never had to go without things we needed. Also went to the beach every year for vacation for a week. My mom cooked most nights, ate lots of left-overs, and we rarely went out to eat but lived in a nice house with anything we needed. A couple doesn't need to make $100K each to be happy and raise a family.
My parents raised 5 kids putting us though private school and helped with some college expenses. Also we all had a vehicle to drive when we turned 16. They did this with my mom being a teacher ($20-35,000) and my dad a farmer (?? honestly don't know what my dad made, $70-100,000. It depended on yields of crop and the price of grain every year). 5 kids, and we never had to go without things we needed. Also went to the beach every year for vacation for a week. My mom cooked most nights, ate lots of left-overs, and we rarely went out to eat but lived in a nice house with anything we needed. A couple doesn't need to make $100K each to be happy and raise a family.
Posted on 2/18/14 at 1:18 pm to BoogaBear
quote:
May we will add somewhere around 40k for a nurse in the Birmingham area.
40k a year as a new nurse?
Posted on 2/18/14 at 1:26 pm to Ironbat31
Look into a term called the hedonic treadmill. Experts have deduced that a person stops gaining happiness from money after about $75k per year. Obviously, this fluctuates with children and cost of living but it's not really as high as I'd thought it be.
Posted on 2/18/14 at 8:55 pm to theBeard
Newman is going to run me about $20k (in today's dollars) per kid. That's 60k if we have 3 kids. I'm going to need to earn at least $500,000 (today's dollars) to have a relatively adequate uptown New Orleans lifestyle. Thank god I chose a smart speciality.
Posted on 2/18/14 at 9:29 pm to Shexter
quote:
I'm currently raising 3 kids on $75K (company pays 100% health insurance). I'm not going to lie, it's a struggle some months. Both cars are older than 5 years (I'm a decent mechanic), and long vacations don't happen often. We made plans to do the "stay at home mom" thing until all 3 kids were in school. When the wife goes back to work in 2 years, we'll have an instant $50-60K boost to our income!
Make her learn how to coupon and save money. Grow your own veggies, etc. learn how to be frugal.
Posted on 2/18/14 at 9:31 pm to BoogaBear
quote:
Completely agree and well said. Honestly, when I started looking into baby stuff I was freaked the hell out. Everything baby is expensive. We live just fine off of that for now though, and in May we will add somewhere around 40k for a nurse in the Birmingham area. In my eyes, that's 40k bonus to save and raise the kid since we are used to living off 1 income.
diapers are 2.99 a pack at walgreens right now. Their brand. Comparable to target brand. Stock up when stuff is cheap. You can wipes free or less than 1.00 often.
Posted on 2/18/14 at 9:33 pm to Ironbat31
Bring home at least 60k a year in order to be comfortable.
Posted on 2/18/14 at 9:33 pm to Ironbat31
quote:
I highly doubt all you guys make 150,000! Are you all doctors?
Doctors make way more than this.
College degree and MBA can put you right at 150-200 range in the finance accounting fields. Might not even need the MBA.
Posted on 2/18/14 at 9:37 pm to catfish 62
Both my parents struggled, and they had two jobs.
Posted on 2/18/14 at 10:09 pm to Ironbat31
Kids are cheap until they hit about 5yrs old. Start now, worry about it later.
Posted on 2/18/14 at 11:01 pm to Ironbat31
All you can make, is never enough. $50k might work, and I guess for me it did at one time. Go ahead and have kids, you'll figure it out. My son is about to figure it out and they may make $50k...may. Really cant put a number on it.
Posted on 2/18/14 at 11:04 pm to bpinson
quote:
All you can make, is never enough. $50k might work, and I guess for me it did at one time.
We did it for several years, without assistance. Even now we BARELY pull six figures combined, and our kids get everything they need, and a lot of what they want.
Posted on 2/18/14 at 11:08 pm to jimbeam
quote:
150000
^^^This. At a minimum. 150 allows me to live a very nice upper middle class life, but with nothing left for savings.
Posted on 2/18/14 at 11:23 pm to Ironbat31
One of 3 kids. Ate out every night and had a relaxing environment with steak and shoes and private school tuition flowing on 150k a year. College was a bit tight, but for 3 kids, 150k is comfortable. Any less than that and it becomes uncomfortable
Page 6 of 7
Popular
Back to top
Follow TigerDroppings for LSU Football News