Could you live comfortably on $7500 a month?
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Anonymous
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This is net after-tax, meaning every month on the first $7500 is deposited into your checking account. With two caveats one your kids went to public school and to your more gauge was $1900 a month.
Family of 3. |
Anonymous
| If you had no other big expenses, sure. |
Anonymous
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Sure. That's roughly what I live on. We make 170k and put a lot into retirement, so our after tax is somewhere around there.
We're able to save about 3-4k a month too. |
Anonymous
| Yes. I live comfortably on $4000 a month with a mortgage of $1350. |
Anonymous
| I would probably be able to hire someone to tutor me in grammar and/or mobile autocorrect with that salary. |
Anonymous
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Let me get this straight. $7500 a month take-home (does that mean that you already have insurance, health care, retirement, and taxes withheld?) and $1900 for mortgage, so you have $5600 left after mortgage and no childcare costs (what about aftercare? Is there a SAH parent to handle that?).
Yes, easily. For our family, after mortgage and childcare and all of the above withholdings, we live on about $2500-3000 per month and we have 2 kids. For one kid, it should be less. |
Anonymous
with one kid |
Anonymous
+1 with two DCs in public school. |
Anonymous
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We are family of 4. Our net is around 7500 to 7800 per month, after 401k deduction, health insurance.
Mortgage + tax = 1850. Both kids are in public schools, ES grade. We try to keep the temperature in the house not too warm or cool, so we save on utilities. We drive older cars. Some months, our expenses are about 6800, other months it is around 8000. So on average, our monthly expenses were about 7200 to 7500. It's tight. Not much room for big purchases unless we save for it. It is doable if you budget well. |
Anonymous
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We can and do live very comfortably on $2500 a month after housing expenses which include mortgage payments, insurance and taxes.
We could probably do it on even less but it would be tight. |
Anonymous
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That is what we do. We are a family of four with two teenagers in HS. Our mortgage is around $1800 but that does not include property taxes or insurance. Property taxes equate to $725-750 per month.
We tend towards frugality, but we don't really have to budget and pinch pennies. |
Anonymous
| Are you kidding OP? |
Anonymous
| Maybe, in west virginia |
Anonymous
You bring home $7500, put $1900 towards a mortgage and put $4000 into savings? So you pay all your other living expenses (transportation, utilities, food, clothing etc . . . ) with $1600 a month? I bring home about $5200 and my mortgage is about the same as you. I think it would very hard for me to reduce my other expenditures to the point where I was able to save $1700. |
Anonymous
Yes! Our mortgage is actually 2k a month and we bring home $8000 a month (well 8k with 2 biweekly paychecks). Yes we can manage to live well on 6k a month (after deducting mortgage)... and save 3-4k. We don't have any other debt and are pretty frugal with food/utilities. We do buy expensive furniture, vacations and clothes though. |