If you classify yourself as UMC, how much do you spend in total each month?
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Anonymous
| None of you are umc. Be real. |
Anonymous
| $2m HHI. Our credit card bill is usually 10-30k per month. Our biggest expense is travel. We save and invest half our income. |
Anonymous
|
320K HHI.
Takehome is about 16K after maxing retirement for 1 person. Mortgage 4500 (we have a 15 year loan and I regret it) HELOC for reno is 1350 dyslexia tutoring 1600 crazy dance competition activity varies from 600 to 2K a month All other expenses 8K a month on credit card. So basically spending the full 16K after retirement savings |
Anonymous
Are they middle or lower middle then? |
Anonymous
|
Gross $314k
Take home $12.5k/mo. Spend $9.4k/mo Remaining goes to college, taxable savings, and Roth IRAs |
Anonymous
| Several posters commented how expenses were higher than they will be later due to kids being in daycare. Just wanted to comment that this was not my experience at all. Yes elementary age expenses go down but then expenses go way up. Instruments, lessons, clothes, shoes, sports, camps. Even travel expenses go way up when you always need two rooms instead of one. My teenage son’s food was through the roof. And daughter homecoming was hundreds of dollars. I found high school years to be way more expensive than infant years. |
Anonymous
| $20-$25k a month on non travel months. |
Anonymous
|
750k base plus $1-2m bonus
We live off just the base and save bonuses. 35k monthly take home 8k mortgage 2k country club 5k bills, insurance, cleaners 10-20k credit card spending on food, entertainment, travel We don’t save anything from base salary. We will tap into bonus for renovations or larger purchases like a car. |
Anonymous
Why is your take home so low? |
Anonymous
How is this UMC? |
Anonymous
The question is not tell me how much you spend and I’ll tell you in which class you belong. The question is if you consider yourself UMC, how much do you spend. Besides, you are wrong to believe that your class has nothing to do with spending. You cannot spend 60k every month if you are low class. You are definitely upper class if you spend 60k a month. |
Anonymous
These expenses aren’t necessities. These are your lifestyle expenses. Expense are lower for parents that don’t choose not to live this lifestyle in high school years ( travel, sports, music lessons, etc). Expenses in daycare years are necessities. You can’t avoid them. |
Anonymous
|
DCUM middle class here with HHI about low $600s.
Just did this exercise recently and have about $9k mo expenses for family of 4. This includes: Kids activities Pre school Birthdays Car maintenance Gas Utilities Clothing Food Vacation Home And average about about $9k month and mortgage all I’m at $4k. We have no car payments. |
Anonymous
600K salary put you in the 1%. By definition, it's not middle class. It's the top. |
Anonymous
It's not. People on DCUM are too stupid to know what middle class is, so you get answers like this. |