If you classify yourself as UMC, how much do you spend in total each month?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'll be honest and say I have no idea what we spend in total and I have an approximate sense of what we both earn. One of the blessings of having enough money is not having to think about it.

I only know because all discretionary expenses go on one credit card with the best travel rewards.

This is what we do. So when I get the statement I know exactly what we spent that month. Absolutely could not tell you what it was spent on but the total is easy.

[Anonymous]

We spend as needed and don't actually track. At the year ends, we typically have about 10% saved out of our gross ($500k+ HHI). This is after paying kid's college expenses of $90k per year. So I'd say we're pretty frugal.

[Anonymous]

Anonymous wrote:We spend as needed and don't actually track. At the year ends, we typically have about 10% saved out of our gross ($500k+ HHI). This is after paying kid's college expenses of $90k per year. So I'd say we're pretty frugal.

dang..90k!

I bet you are counting down the days...better treat you and your partner to a nice trip post graduation!

[Anonymous]

Anonymous wrote:

Anonymous wrote:We spend as needed and don't actually track. At the year ends, we typically have about 10% saved out of our gross ($500k+ HHI). This is after paying kid's college expenses of $90k per year. So I'd say we're pretty frugal.

dang..90k!

I bet you are counting down the days...better treat you and your partner to a nice trip post graduation!

Not there yet Another one goes to college right after the first one graduates! But we're kind of used to the current lifestyle. So it's manageable.

[Anonymous]

We are around 20k a month at that income but that includes private school for us. Blah

[Anonymous]

Anonymous wrote:We are around 20k a month at that income but that includes private school for us. Blah

We are still in the 12k range with one in private but 2 kids in the pipeline. That’s gonna hurt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

[Anonymous]

Mortgage and utilities alone cost me $3000. Taxes and medical probably another $2000. Food $1000. That's $6000 for essentials and then there is about $1000 per person per month for other things.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

You need to get it together.

[Anonymous]

Anonymous wrote:Mortgage and utilities alone cost me $3000. Taxes and medical probably another $2000. Food $1000. That's $6000 for essentials and then there is about $1000 per person per month for other things.

Oh and then there is home insurance and car maintenance and car insurance. That's another $1000 for home and car. And utilities is probably more and food a little less. You can easily spend $100k in the DMV without doing much other than essentials.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

You need to get it together.

I am not UMC. Just MC. We don't have savings. Sorry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

You need to get it together.

I am not UMC. Just MC. We don't have savings. Sorry.

You are living like a biglaw partner family on a GS12 income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

You need to get it together.

I am not UMC. Just MC. We don't have savings. Sorry.

You are living like a biglaw partner family on a GS12 income.

LOL. The majority of people cannot have a home, car, kids, utilities, food, and college in the DMV under $100k spending. All of my averages including mortgage are less than the average here. You just don't understand because you make more. I don't get a discount on internet just because I make less. If you've noticed many people forgo kids altogether for this reason. Get out of your bubble.

[Anonymous]

Anyway, I was just interested in what someone else did with their $500k if they didn't spend more than $150k a year on themselves.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.

Wow! What do you do with the rest of the money? I make about $150k and spend about 10k on four people.

??? How can you do that and pay your taxes? And do you have literally no savings??

Correct. I am not able to save anymore. I used to. Luckily college is saved for, but no with taxes and expenditures for the kids, no savings.

You need to get it together.

I am not UMC. Just MC. We don't have savings. Sorry.

You are living like a biglaw partner family on a GS12 income.

LOL. The majority of people cannot have a home, car, kids, utilities, food, and college in the DMV under $100k spending. All of my averages including mortgage are less than the average here. You just don't understand because you make more. I don't get a discount on internet just because I make less. If you've noticed many people forgo kids altogether for this reason. Get out of your bubble.

You’re spending way too much on kid “expenditures.” It seems like you’re the one in the bubble that you don’t see these are choices and not ones inflicted on you by your zip code.