Shocked: Our bare-bones monthly cost of living is 5K after taxes! What's yours?
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Anonymous
Agree- we save actually a lot when you figure no 6% sales tax at target (MD resident here) on purpose face wash that is cheaper at Amazon anyways. We also subscribe to dog food. |
Anonymous
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Our gross combined annual income is $167,000.
We each contribute 4% to 401(k). I carry our med insurance for the fam (2 31 yr old adults, 2 kids). I also pay for supplemental disability insurance coverage. Take home pay is right at $8,800 per month combined. Mortgage plus pmi plus taxes = $1655 per month House is 1400 sq ft in hyattsville/college park area (pg) Purchased in 2003 with 0% down, had a grant for closing costs Nanny = $1,400 per month (22 hours per week) Groceries= $1,000 per month (organic, local when possible, all that jazz; we are vegetarian primarily but we eat some fish) Cell= $110 per month Internet plus cable = $60 per month Travel budget = $500 per month Clothes budget = $350 per month And so on and so on.... Long story short, we ran all the numbers and scenarios. We know that our bare bones budget is less than a third of our normal operating budget. We could get by on $3,700 if we let our nanny go, switched to conventional produce, dropped all the extras like travel, new clothes, etc, but it would be painful. We do not have student loan debts. Our cars are older (2003 and 2007) and they are paid off. We get metro subsidies from our employers. Spouse telecommutes 4 days out of five. I telecommute 2 days per week. |
Anonymous
| Pp here. Wanted to add that we consider life insurance part of our bare bones budget. We would not allow it to lapse no matter the compromise involved. My premium is $75 per month and spouse's is $40. |
Anonymous
Not FP, and not excusing her but, if I may play devil's advocate... Toilet paper, laundry detergent and other soaps don't have to be a monthly purchase. I buy $25 worth of TP at Costco and it last 6 months. $25 over six months becomes negligible in the big budget. I dont recall how big FP's family is, but when I was living with my parents and in charge of all of the grocery shopping, I was able to get everything for $50 a week. Granted my parents would eat lunches out most days, but it isn't impossible. |
Anonymous
| THis is a 5 year old thread. |
Anonymous
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College student here!
My budget seems high to me, but I don't have a DH and kids so its actually manageable! $1830 $600 rent $300 groceries (couponing) $300 school expenses (amount not covered by scholarships) $50 credit card $80 gas $200 savings (for things like car issues, and other emergencies) Misc $300 :drinks, dinners out, occasional lunch, impulse buys (25 dollar lamp at target) occasional starbucks drink I make more than the budget, but I usually let the extra pile up in my checking acct or I move it over to savings. |
Anonymous
wow, you came here to say that.... 
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Anonymous
no gas? no phone? $150 a month in groceries for 2 adults? something is not adding up here |
Anonymous
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Interestingly, I had more financial freedom when I was making a bit under 60k a year and living on my own in DC and renting than now, when we make just about 250k but have children and bought a decent but not great house in decent school district.
Me in 2006: rent 1200 (and no repairs) transportation-- free (subsidized metro, no car) health insurance 100/mo groceries, cvs, etc 250 mo (just me) gym 75/mo utilities plus cell phone 150/mo travel 75 mo (spread out, 2 trips a year at about 350/ticket, mostly to go see family) TOTAL= about 1850/mo. My take home, after maxing retirement, was 2550/month, leaving 700 month for going out, saving, clothes, haircut, etc. Me in 2016: mortgage PITI 3800 health insurance 400 transportation 450 (gas and insurance and car payments groceries 600 (easily!) gym 150 (2 adults) utilities 450 cell phone 120 (2 smart phones) travel 500/mo (2 trips, family of 4) childcare 2400/mo college savings 1600/.month (not even projected to cover 4 years for 2 kids) total: just about 10.5. take home after after retirement, 11.5k; 1k a month 'extra' for a family of four is less than 700$ for a single person (not including inflation adjustment) |
Anonymous
| I have more empathy/sympathy for Donald Trump! Do you not understsnd that many, many families make it on less the, $2k a month. You are such a jerk, OP. |
Anonymous
You are an idiot. |
Anonymous
THe OP is long gone. THis thread is 5 years old. |
Anonymous
Your verizon cable-internet-phone is high. Unless in an apt or condo building you usually have a choice of 2 providers. Why have a phone? Obviously you have cells. regular landline is only 25/month. Do you even need that? Check out new customer deals on comcast or cox. New customer internet/cable is usually cheap. Netflix prices are increasing. If you have amazon prime dump netflix. |
Anonymous
No Internet, no TV, no phone, no car insurance, no co-pays, no clothing, no toiletries, no medicine, no diapers, no wipes, no gas, no car repairs, and you are feeding everyone on $5/day? OK. Sure. |
Anonymous
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Well our family of four, which includes two teenagers, spends over $1,000 a month on groceries, not even counting eating out.
Real estate taxes on our house are $900 a month. Then utilities, insurance (house, life, health, car)..... Even without a mortgage or childcare, we easily spend $6,000 a month. |