How does your family survive making under 200k hhi

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

NP here. On less than 200K HHI, we have funded our retirement, heavily insured, Prepaid college tuition for both kids, 2 cars, a SFH in the suburbs. Our kids will have very little or no student loans.

So what did we not do?
1) Did not do private schools
2) Did not have student loans
3) Did not upgrade to a bigger house (ours is 3200 sq ft)
4) Do not lease new cars. We have fuel efficient cars
5) Do not have pets.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates.
7) No childcare cost now.
8) No one is in therapy
9) No divorce, alimony, child support
10) No fertility treatments
11) No spa days
12) Only some organic stuff is consumed - milk, eggs, meat, berries. Rest is regular produce.
13) Do not have consumer loan (except for cars and house - we are not in debt)
14) I do not buy designer clothes, bags, shoes etc. Most of my clothes come from Kohl's and Macy's.
15) I will not buy most things from a shop, if I can buy from Costco.

Finally, I have confirmed that there is someone else on the boards like me! Our choices have left us in a comfortable position as we reach middle age, and it is a great feeling.

I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.

6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.

8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.

9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.

10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.

Perhaps, it is a lucky break to not have these costs. Just like it is a lucky break that many people get really high paying jobs with less qualifications than others. Or make a killing in stock markets. I do not begrudge their lot in life nor should they begrudge mine.

Never claimed I am richer. Just said that I have managed fine with what I make. Please also read my reply about what I would have done with my house if I did not have retirement savings.

I do not at all begrudge you your good fortune. I'm happy for you. I just don't think you should make it sound like it's all a product of choices. Some of it is a product of luck.

NP here. While it is luck that PP didn't need fertility treatments, for those that go down that route - it is a choice. We chose NOT to go that route because it would leave us without enough of a nest egg to support any child that we did have.

[Anonymous]

Everybody cannot quit work and be SAH. Sometimes the man just is not the higher earner. Sometimes him staying home is just not a valid alternative either. 13K for child care for one kid is a very good deal. Everybody does not get such a good deal. Some people have more than 1 kid. This is not because of bad choices. We did just fine and were able to afford more than 1, but then life happens and work is not that guaranteed and so even household finances change.
illness and disability happens to all kinds of people

If these things happen then you're no longer in the group of people making between $150-$200K that are the subject of this post. Medical bills can certainly be an issue but that's really more the exception than the rule.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
Sure it can work but without a lot of room for savings, 529s, incidentals. . . This is how ppl end up feeling strapped. 70% of their take home is going to the mortgage, childcare, and food.

Child care can be up to 65% of take home pay.

That's when it's time to quit work and SAH.

+ 100

The fact is that no one is assigning a dollar amount to the work SAHP do at home, the savings as well as cost of going to work - clothes, commuting, childcare etc.
But sometimes it is more economical if one partner stays at home and takes care of things at home and save money. If HHI goes up along with expenses - then it may not be worth it for one partner to WOH

How could childcare come to 65% of take home? Is that for just one person or the whole HHI? I can't imagine going that route. We currently pay 13k for childcare for one. Our take home would have to be 20k for that to be 65%. If I made that little I'd qualify for various childcare vouchers so I actually wouldn't even be paying that. So I call BS or you're paying for luxury care you can't afford.

Everybody cannot quit work and be SAH. Sometimes the man just is not the higher earner. Sometimes him staying home is just not a valid alternative either. 13K for child care for one kid is a very good deal. Everybody does not get such a good deal. Some people have more than 1 kid. This is not because of bad choices. We did just fine and were able to afford more than 1, but then life happens and work is not that guaranteed and so even household finances change.
illness and disability happens to all kinds of people

But living in an area where licensed, quality childcare is available for $13k is a choice (which btw is Old Town & Arlington so really not that far) and living in an area where you have to pay at least $20k is also a choice. It's not about luck. Having two kids is even more reason to move outside of the district. If you can't afford to live in the district, then don't. That's the part people seem to not get.

[And I didn't recommend quitting and SAH so not sure where that came from.]

[Anonymous]

If I moved outside of the district, I would not see my children during the weekdays. So yes I could make that choice, but it would be a terrible choice for me.

[Anonymous]

Anonymous wrote:If I moved outside of the district, I would not see my children during the weekdays. So yes I could make that choice, but it would be a terrible choice for me.

So, obviously not in a survival mode!

[Anonymous]

We are living very well on about 98,000/yr. When I worked, we made exactly double that. I sah with our toddler since he was born.
Our mortgage is only 1700 bc we put down 250
Both cars were paid off before I quit but both are relatively new so no maintenance.
I buy everything on ebay.
When I'm done with it, I sell it on ebay or craigslist.
I cook every night.
I clean my own house.
I swap babysitting with another mom for occasional date nights.
I use the interest from my investments to fund a vacation once or twice a year.
Dh family has a vacation house we can use.
My mom gives me gc for clothes for bday and Christmas.
Shop at TJ and costco instead of whole foods.
That said I
Belong to a gym
Take my kid to gymboree
Occasionally lunch with other SAHMs
Take my kid to the zoo, kids shows, kid events.
Belong to a nice pool in the summer
Get my hair cut every 6 weeks @ 75 plus tip.
Get a massage every few weeks
Get an adjustment every few weeks
Get a pedi every other week

What is different:
We save much less although we do have investments which gain interest.
I buy MUCH less high-end clothing and purses.
Our vacations are much less elaborate.
We used to eat out 3-4 Times a week and loved fine dining.

[Anonymous]

Anonymous wrote:

But living in an area where licensed, quality childcare is available for $13k is a choice (which btw is Old Town & Arlington so really not that far) and living in an area where you have to pay at least $20k is also a choice. It's not about luck. Having two kids is even more reason to move outside of the district. If you can't afford to live in the district, then don't. That's the part people seem to not get.

[And I didn't recommend quitting and SAH so not sure where that came from.]

Lets tell everyone to go away. Away with the old, ugly and fat. Only childless selfish people are allowed to stay. A real civilized person does not respect mothers. Society will be better off without people like that

[Anonymous]

Anonymous wrote:

Anonymous wrote:

But living in an area where licensed, quality childcare is available for $13k is a choice (which btw is Old Town & Arlington so really not that far) and living in an area where you have to pay at least $20k is also a choice. It's not about luck. Having two kids is even more reason to move outside of the district. If you can't afford to live in the district, then don't. That's the part people seem to not get.

[And I didn't recommend quitting and SAH so not sure where that came from.]

Lets tell everyone to go away. Away with the old, ugly and fat. Only childless selfish people are allowed to stay. A real civilized person does not respect mothers. Society will be better off without people like that

Heh. All we need now is someone to call someone else a Nazi and I'd say this thread is done.

[Anonymous]

Anonymous wrote:We are living very well on about 98,000/yr. When I worked, we made exactly double that. I sah with our toddler since he was born.
Our mortgage is only 1700 bc we put down 250
Both cars were paid off before I quit but both are relatively new so no maintenance.
I buy everything on ebay.
When I'm done with it, I sell it on ebay or craigslist.
I cook every night.
I clean my own house.
I swap babysitting with another mom for occasional date nights.
I use the interest from my investments to fund a vacation once or twice a year.
Dh family has a vacation house we can use.
My mom gives me gc for clothes for bday and Christmas.
Shop at TJ and costco instead of whole foods.
That said I
Belong to a gym
Take my kid to gymboree
Occasionally lunch with other SAHMs
Take my kid to the zoo, kids shows, kid events.
Belong to a nice pool in the summer
Get my hair cut every 6 weeks @ 75 plus tip.
Get a massage every few weeks
Get an adjustment every few weeks
Get a pedi every other week

What is different:
We save much less although we do have investments which gain interest.
I buy MUCH less high-end clothing and purses.
Our vacations are much less elaborate.
We used to eat out 3-4 Times a week and loved fine dining.

What do you net from that gross salary?

[Anonymous]

I have never paid for someone to clean my house, cut the the grass-lawn care, or do my taxes. I have never paid for a gym membership. Our cars are 10++ yrs old

[Anonymous]

Anonymous wrote:We are living very well on about 98,000/yr. When I worked, we made exactly double that. I sah with our toddler since he was born.
Our mortgage is only 1700 bc we put down 250
Both cars were paid off before I quit but both are relatively new so no maintenance.
I buy everything on ebay.
When I'm done with it, I sell it on ebay or craigslist.
I cook every night.
I clean my own house.
I swap babysitting with another mom for occasional date nights.
I use the interest from my investments to fund a vacation once or twice a year.
Dh family has a vacation house we can use.
My mom gives me gc for clothes for bday and Christmas.
Shop at TJ and costco instead of whole foods.
That said I
Belong to a gym
Take my kid to gymboree
Occasionally lunch with other SAHMs
Take my kid to the zoo, kids shows, kid events.
Belong to a nice pool in the summer
Get my hair cut every 6 weeks @ 75 plus tip.
Get a massage every few weeks
Get an adjustment every few weeks
Get a pedi every other week

What is different:
We save much less although we do have investments which gain interest.
I buy MUCH less high-end clothing and purses.
Our vacations are much less elaborate.
We used to eat out 3-4 Times a week and loved fine dining.

where did you get the 250: to put down - and where did you get the $$ for the investments? you could not have saved that on your current salary!

[Anonymous]

Living on 68k in DC.

Mortgage, utilities, and condo fees are under 1500
No child care expenses (public charter) and family nearby
No car loans
Really low SLs (under $70/month)
Opportunity for OT at work as desired
Pedis once a month, gel manis every three weeks
Housecleaning once every 6 weeks
Vacation twice a year
Shop at Whole Foods and Wegmans (vegetarian)
Consignment shopping
Eat out regularly