Forum Index
»
Infants, Toddlers, & Preschoolers
If you are a SAHM or SAHD, how much money does your spouse make?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| When I started being a SAHM, DH made 80K, now he makes around 120K. We live in Silver Spring. |
Anonymous
|
PP with the 108K income here. You are right that $36K per year for 'other' could be tight, but I think doable. That works out to 3K per month also. Say 1K on utils (incl car gas, etc.), $1500 on food, and $500 for clothes etc. On a tight budget, you skip vacation, fix your own home maintenance problems with your 'free' labor, and stop the kid's music lessons. Probably other savings by living more efficiently (say less take-out) and lower taxes (no more federal AMT!). I grant, though, that this could be thin line if you need a new roof or something. I don't want to sound like I am dissing your comment.
I mainly wrote this because in mortgage underwriting, you generally want to see the total debt from someone at most 1/3 if income. As such, one way to determine if you want to be a SAHM/D is to pay off all debt and set your housing payment to at most 1/3 of income. It is just a rough rule of thumb. The key to living cheaply is keeping fixed costs down. Housing is probably the big is cost and the basis from which to start your analysis. Carrying credit card debt is just insane at the prices they charge. Also, If you have to live on less, you have to just get down to basics. Cable TV is not needed to live. As an aside, I am not telling you things such as we have a decent rainy day emergency cash fund, pretty good retirement savings already, lots of house equity, and some level of college savings. We are not perfect, but we have been saving. We are older parents in our 40s, so we saved a lot in our pre-kid day. My situation is only relevant to the question as an example of how to think about your own options. Currently, I have no expectation of an imminent layoff. It is possible, though, so we have to be prepared. This would be how I would think through a SAH assessment too. |
Anonymous
|
we live on 190k (my income and save his so I'm not a SAHM) but I have another confession:
I clip coupons, shop at goodwill and garage sales and consignment sales. I am very, very cheap. I thinK i am this way b/c I was raised poor (like welfare poor) and just can't get used to having money or, more likely, I'm afraid it will go away so I like to keep up my frugality skills. I drive a volvo! it's 13 years old and a gift from the in-laws. I have brand new clothes! but they are from target. I don't skimp on food but I love to cook and make my husband play this stupid game: What would you pay for this plate (for example) of fish, chickpeas, and sherry sauce at a restaurant? He answers something $22. I say: The entire dinner cost 12$!!! and feel very happy and proud of myself. I'm a weird dork, I know. |
Anonymous
| I am like you pp and I make 800k a year. We spend a lot on the nanny and a bit more on dinner out but target, garage sales,e bay you name it. No debt. Small house paid off |
Anonymous
wow! so you must save hundreds of thousands of dollars a year!? fascinating. You must be at a fairly demanding job to make 800K/year. Why stockpile money when you don't need it to maintain your chosen lifestyle? |
Shopmom
Member Offline
Member Offline
| Both my husband and I WAH/SAH however you want to put it. The first year I chose to stay home, my husband was only on a 34k salary and we had a home business that was slowly growing. This past year we made about 110k. In 2011 our income will be substantially more, around 500k but regardless of what level our income, we've lived within our means allowing a few splurges from time to time. I have one son who is two, who was born with severe asthma and food allergies so I sacrificed our expensive wants for the health of our son. We've been blessed living in such an expensive region; I currently live in Waldorf, MD hopefully looking to build my dream home in Northern Maryland soon...I've earned it |
Anonymous
Where is your savings? With this math you will be eating cat food when you are 75. I am SAHM and my DH's income is $165k. I am frightened about not having enough for retirement so we do about 1/3 taxes, 1/3 shelter AND food, clothes, other and 1/3 savings: Taxes 30% Mortgage/taxes 15% Bills, debt, food, clothes, preschool, fun money 20% Short-term savings 20% Retirement savings 15% Basically we live in a tiny house in Silver Spring, pay cash for used cars, don't vacation except to visit family. I can't wait until kids are in school and I can start working again so I can save all my income! |
Anonymous
|
Reply tp 19:29,yes lots and lots of stockpiling. One reason is not sure how long will be in this kind of job - yes demanding, fair amount of travel...but not as bad as many jobs. Has worked well so far. But doesn't have option to cut hours for less pay etc. 2. Am wiling to spend$$$ on some things -- nanny etc and maybe private school when we get there. But some the way I was raised. Why buy baby new clothes or toys when amazing garage sales and it's all the same stuff? love old car. I know lots of people have to spend most of what they make to make it all work, I get that. And some like on this thread, are making choices that make sense for families and children, even if limit them to one income. Totally get that too. But many others fill up each raise w more spending - bigger house, new cars, clothes. Then they are locked into jobs, hours etc. I probably go out of my way too much to avoid that fate.
|
Anonymous
| This thread is incredibly annoying. It should be renamed "How little can you live on and still SAH." The comments here are in no way representative of most families with a SAH parent in the DC area. And it's not that the title of the thread is so off that's really bothering me. It's that in comment after comment, people who are living on very little are making comments to those with more money saying they're "out of touch" etc. Why is it that people with less money ALWAYS think it's okay to judge people with more?? But when the situation is reversed and someone with money dares criticize someone without, oh God FORBID. It's just so irritating. |
Anonymous
We make very little and I SAH. I would LOVE to be one of you making tons of money. Absolutely. I don't judge you, I envy you 
|
Anonymous
| I SAH, and my DH makes 250k. We live in Bethesda and bought a house that was too expensive for us, so money is pretty tight. Our mortgage is under water though, so no moving anytime soon. I was working at the time we bought the house (and making six figures) and didn't even consider the fact that we may have kids and I would want to SAH. Lesson learned! |
Anonymous
How are these comments not representative of most families with a SAH parent in the DC area? Most of the posters have spouses making $100,000+. According to Wikipedia the median household income for local counties are as follows: Loudon - $110,643 Fairfax - $106, 785 Arlington $96,390 Montgomery County - $93,999 Prince William County - $88,675 This is clearly in line with what posters have stated, in fact most have reported much more. I think living in this area, it's easy to believe that everyone has much more money than they really do. |
Anonymous
I've seen judgement from both sides. Also, I could have forgotten something, but the only person I can remember being called out of touch was the 400k poster who expects everyone to be able to buy last-minute plane tickets for four. Even if that is my reality, that's out of touch- not everyone can do that, but it's easy to say they can when you're earning 400k a year. |
Anonymous
| Husband works for Fed. govt and makes $135,000. We have some investment properties that we bought over 5 years ago, but we allocate the money to retirement/college savings, not disposable income. Have 2 children and own a nice SFH in Prince William County. |
Anonymous
Opposite of us. We both chose to continue to work and use childcare so we could pay our kids' college educations in full. Win-win for us, as the kids are too old now for childcare and we both still have our careers. Not at all worried about college expenses
|