How much do you make and spend?

[Anonymous]

I just want to get a feel at what the rest f the world is doing with their money. How much do you make and spend a month? What do you spend it on?

Example: monthly income $X
Savings X
Mortage X
School for kids X
Extracurricular activities X
Groceries X

Etc

Etc

[Anonymous]

Why don't you give your info first?

[Anonymous]

We make 300,000 and we're happy spending every damn penny. Gotta live life while you're here.

[Anonymous]

Been posted many times.

[Anonymous]

Income $90K

Income Taxes $30K
Mortgages $14K
Automatic transfers to investment accounts: 6K
Live in Nanny: $3.5K
Retirement plan contributions: $3K
Eating Out: $2K
Charity: $1K
Insurance: $1K
Housekeeper $1K
Utilities: $1K
Groceries: 600
Vacations: $500 (we own a vacation home and kids are young, so we don't travel much)
Entertainment/ gifts: $500


the balance is discretionary and by way of example was spent predominantly in:

1) taxes (we did a very large Roth rollover)
2) savings
3) investments
4) charity
5) debt repayment

[Anonymous]

Why don't you go first?

[Anonymous]

Anonymous wrote:
Live in Nanny: $3.5K

I look forward to seeing your nanny's spending break-out to find out how she survives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Live in Nanny: $3.5K

I look forward to seeing your nanny's spending break-out to find out how she survives.

I'm not the one you quoted but if she doesn't pay for a place to live she is probably doing ok. I bring about 3,600 (after taxes) and have to pay for daycare and rent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Live in Nanny: $3.5K

I look forward to seeing your nanny's spending break-out to find out how she survives.

I think that was their monthly budget, so the nanny would be making 40K+ yearly.

[Anonymous]

Anonymous wrote:Income $90K

Income Taxes $30K
Mortgages $14K
Automatic transfers to investment accounts: 6K
Live in Nanny: $3.5K
Retirement plan contributions: $3K
Eating Out: $2K
Charity: $1K
Insurance: $1K
Housekeeper $1K
Utilities: $1K
Groceries: 600
Vacations: $500 (we own a vacation home and kids are young, so we don't travel much)
Entertainment/ gifts: $500


the balance is discretionary and by way of example was spent predominantly in:

1) taxes (we did a very large Roth rollover)
2) savings
3) investments
4) charity
5) debt repayment

What do you do?

[Anonymous]

Monthly income (after taxes and insurance): 3340
Rent, utilities: 1200
Credit Card Bill (includes food, gas, everything): 800 almost every single month
Remainder goes into savings/retirement

[Anonymous]

Anonymous wrote:Income $90K

Income Taxes $30K

There is no way you're paying income taxes of $30,000 on gross income of $90,000 and mortgage interest of $14,000.

Assuming you itemize (and I do since you have mortgage interest), you'd probably have taxable income around $70,000 or so, which is in the 15% tax bracket for joint filers. If your taxable income was $70,000, your total federal income tax bill would be about $9,630.

How are you getting to $30,000? Even if you count FICA (which is not an income tax), that would be another $5,100 or so. Your state income tax is not going to total $16,000.

Explain, please.

[Anonymous]

Income: $3400
Rent $1500
Parking $300
Day care $800
Food/gas: $600
Cable/phone:$100

Not much left over as you see

[Anonymous]

I think that 90k poster meant 90k per MONTH.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Income $90K

Income Taxes $30K

There is no way you're paying income taxes of $30,000 on gross income of $90,000 and mortgage interest of $14,000.

Assuming you itemize (and I do since you have mortgage interest), you'd probably have taxable income around $70,000 or so, which is in the 15% tax bracket for joint filers. If your taxable income was $70,000, your total federal income tax bill would be about $9,630.

How are you getting to $30,000? Even if you count FICA (which is not an income tax), that would be another $5,100 or so. Your state income tax is not going to total $16,000.

Explain, please.

Look at the details..this is 90K per month! The PP says $600 on groceries...so must be monthly.