can I afford to maintain my household if I don't work again?

[Anonymous]

Both my mother and MIL live very well off for less than that. Travel, nice houses, eating out, concerts, etc.

You might have to make hard choices about where you live and what you can afford for college, but you have vastly more than the average American.

Do not stress about getting laid off. Seriously.

Maybe you should research places to live that have great state schools, if you’re in DC proper.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The rental income $6500 is gross income.

Monthly expenses
Mortgage: $4020
HOA: $120
Gas: $147
Electric: $400
WIFI: $90
Phone: $40
Housekeeping: $200
Credit Card: $1000-$1500 (food/gas/entertainment, medical copay)
Water: $65
Auto Insurance: $200

Your 'credit card" spending seems really low to me for a mom with two teenagers, at your income level and presumed standard of living.

How sure are you that it is accurate? Does it include kids expenses (shoes, clothing, classes, tutoring, sports equipment?). Holiday/birthday gifts? Food - includes groceries, take out, dining out, special meals? Vacations? All entertainment? AND all medical copay?

I'm not saying it is impossible to be so frugal. But someone with a $4020 mortgage plus a $200/month cleaning service usually isn't just spending $1500 a month on "life" so I question if it is accurate.

This requires an entire new thread about frugal spending. My kids are happy wearing comfortable clothes from their older cousins, dont know about brand names and dont have their cell phones. They aren't athletic and have no interest in sports. They get tutoring ($350/mon each but this isnt a long term expense) and birthday parties (also varies per kid preferences). We use the library, eat out only on special occasions, dont buy organics, don't get food delivered, and don't get Starbucks drinks. We use the Facebook BN group and goodwill. We do vacation but the last vacation was months away and we dont stay at 4star resorts. I use my credit cards for groceries, copays, school lunches, gas and get cash back. My credit card balance is usually around $1500. Some people spend on luxury bags, nails, shoes, cars - i love coming home to a clean house and choose not to scrub my toilets.

OK, I questioned whether your report of spending $1000-$1500 monthly on living expenses was accurate and I was right. You are spending $700 more monthly when you add in the tutoring.

It's unusual for kids not to have cell phones, wear all hand-me-downs, etc. here on DCUM, especially for people with your HHI. I know very well what it is like to live the frugal spending life - I do it myself! (Buy all my bras second hand at the thrift store because good new ones are so freaking expensive!) If you are getting your clothes and household items from Buy Nothing Group and Goodwill and don't eat out and don't take vacations AND your kids don't play sports AND you all go to the library instead of doing things that costs money, then yes, I can see how that $2200 a month is all you spend! Good for you!