$200K and just getting by

[Anonymous]

This should be helpful for those "we make north of 200K and barely get by" types:

http://www.financialsamurai.com/how-to-make-six-figures-a-year-and-not-feel-rich-200000-income-edition/

[Anonymous]

Most of it comes down to mortgage and childcare. If you really want to become financially independent on two upper-middle-class incomes, you've got to find ways around that. Save early and hard before you have kids to buy down your mortgage--even before you buy a house, and even before you marry.

[Anonymous]

Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

[Anonymous]

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

How did you have a DP at 22?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

How did you have a DP at 22?

Not the pp, but the only people I know who have bought that young had the down payment gifted by thei parents.

[Anonymous]

Make a budget for non-essentials and stick to it. Stop with the iPhone's and outrageous monthly phone plans.

Also, buy housing for less. Would you rather live in a 2400 sq ft 4 bed full basement nice yard house in fabulous area? Sure, but don't. Buy the 1600 sq ft 3 bed split level or TH on a small lot in a safe neighborhood. Be wary of Hoa fees, some are $100 a year vs $100 a month.

Stop with the flying vacations each year . Make those once every three or four. Do driving trips and explore your own city.

Buy the least expensive car that is safe to drive and reliable. Keep it as long as it is safe and not costing $$ to fix.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

How did you have a DP at 22?

Not the pp, but the only people I know who have bought that young had the down payment gifted by thei parents.

Yeah that's what I was getting at. I would have liked to own that young too but I had just graduated college that I worked during school to pay for and was totally broke... Much easier to be in a good financial condition while you're still fertile if parents gave you a big boost.

[Anonymous]

Anonymous wrote:Make a budget for non-essentials and stick to it. Stop with the iPhone's and outrageous monthly phone plans.

Also, buy housing for less. Would you rather live in a 2400 sq ft 4 bed full basement nice yard house in fabulous area? Sure, but don't. Buy the 1600 sq ft 3 bed split level or TH on a small lot in a safe neighborhood. Be wary of Hoa fees, some are $100 a year vs $100 a month.

Stop with the flying vacations each year . Make those once every three or four. Do driving trips and explore your own city.

Buy the least expensive car that is safe to drive and reliable. Keep it as long as it is safe and not costing $$ to fix.

Did you even click the link? Why are you inventing a housing strawman?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Make a budget for non-essentials and stick to it. Stop with the iPhone's and outrageous monthly phone plans.

Also, buy housing for less. Would you rather live in a 2400 sq ft 4 bed full basement nice yard house in fabulous area? Sure, but don't. Buy the 1600 sq ft 3 bed split level or TH on a small lot in a safe neighborhood. Be wary of Hoa fees, some are $100 a year vs $100 a month.

Stop with the flying vacations each year . Make those once every three or four. Do driving trips and explore your own city.

Buy the least expensive car that is safe to drive and reliable. Keep it as long as it is safe and not costing $$ to fix.

Did you even click the link? Why are you inventing a housing strawman?

NP. I read the link. Housing is not a strawman, it's a major expense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Make a budget for non-essentials and stick to it. Stop with the iPhone's and outrageous monthly phone plans.

Also, buy housing for less. Would you rather live in a 2400 sq ft 4 bed full basement nice yard house in fabulous area? Sure, but don't. Buy the 1600 sq ft 3 bed split level or TH on a small lot in a safe neighborhood. Be wary of Hoa fees, some are $100 a year vs $100 a month.

Stop with the flying vacations each year . Make those once every three or four. Do driving trips and explore your own city.

Buy the least expensive car that is safe to drive and reliable. Keep it as long as it is safe and not costing $$ to fix.

Did you even click the link? Why are you inventing a housing strawman?

NP. I read the link. Housing is not a strawman, it's a major expense.

The family in the link doesn't have a 2400 sq ft 4 bedroom, they have a very modest house, so posting that people with this income should pick a modest house doesn't make sense: they did that.

[Anonymous]

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

Most people can't afford this. Not everyone get's daddy's help with buying a house. A lot of people have school debt. A lot of people don't make that much that early in life. Etc.

It's not as easy for everyone as it was for you.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

Most people can't afford this. Not everyone get's daddy's help with buying a house. A lot of people have school debt. A lot of people don't make that much that early in life. Etc.

It's not as easy for everyone as it was for you.

And not everyone gets married when they're still children

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Make a budget for non-essentials and stick to it. Stop with the iPhone's and outrageous monthly phone plans.

Also, buy housing for less. Would you rather live in a 2400 sq ft 4 bed full basement nice yard house in fabulous area? Sure, but don't. Buy the 1600 sq ft 3 bed split level or TH on a small lot in a safe neighborhood. Be wary of Hoa fees, some are $100 a year vs $100 a month.

Stop with the flying vacations each year . Make those once every three or four. Do driving trips and explore your own city.

Buy the least expensive car that is safe to drive and reliable. Keep it as long as it is safe and not costing $$ to fix.

Did you even click the link? Why are you inventing a housing strawman?

NP. I read the link. Housing is not a strawman, it's a major expense.

The family in the link doesn't have a 2400 sq ft 4 bedroom, they have a very modest house, so posting that people with this income should pick a modest house doesn't make sense: they did that.

They should pick a more modest location.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

Most people can't afford this. Not everyone get's daddy's help with buying a house. A lot of people have school debt. A lot of people don't make that much that early in life. Etc.

It's not as easy for everyone as it was for you.

And not everyone gets married when they're still children

np. 22 is hardly a child.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Or buy a home as early as possible. We got our first starter home when we were dating at age 22. We are 40 now and are on our 5th house with one as a rental.

By the time we started having kids at 27, we were established with equity and it just kept building

Most people can't afford this. Not everyone get's daddy's help with buying a house. A lot of people have school debt. A lot of people don't make that much that early in life. Etc.

It's not as easy for everyone as it was for you.

np. Then that's all the more reason for those who have it harder to be extremely careful and strategic with their resources. You can complain all you want, but that doesn't build cash flow.