Reply to How much do you make and how much FA do you receive?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI $100k, receive 60% FA. [/quote]

How can you afford to live? Not being sarcastic

The economic policy institute has a family budget calculator that estimates a family with 2 adults and one child needs $83,675. http://www.epi.org/resources/budget/

60% of $30,000 (typical private school tuition around here) is $18k

83675+18000 =$101,675. [/quote]

Hi, just saw this -- I'm the one you're referring to.

First of all, since we receive 60%, we pay 40% (actually we get 62%, pay 38%).  So call us $11,400.

As to how we live... We were paying $950/mo for daycare before DC started private school (which I think isn't unusual)  so we just turned around and started paying that in tuition instead. I don't know what else to tell you! We live in a townhouse in an unfashionable (but pretty safe) area, have one car and vacation modestly. We don't feel poor, and have some emergency savings.

It's all what you're used to, I suppose![/quote]

Do you save any money?  Have more than one kid? What if they up tuition at your school? I am only being nosy because this is an anonymous forum and you volunteered.  We have a hhi that is much higher than yours, but aggressively save for retirement and college,
So our monthly budget is pretty tight.  That said, it would be hard for us to meet your budget.  Do you own your home outright? WhAt are your health insurance costs? [/quote]

I don't mind answering polite questions. [b]We save $850/mo in our emergency funds,[/b] and $250/mo in 401k plus employer contributes $500. Only one kid and won't be having any more. They've upped tuition every year, but they've also upped our FA so our actual increase has been around $100/year, which is fine. We don't have college savings at the moment, and feel okay about that, because if our income doesn't increase our college EFC (estimated family contribution) probably won't be a ton more than our current EFC -- and if our income does increase, we'll use every penny towards college costs. We're also 100% fine with sending kid to a state school if that's what we can afford.

Do not own house outright, but our mortgage is crazy low (bought cheap in early 2000s. It's not worth a ton now, so don't be too jealous, but it's a nice place to live). No credit card debt.

I think our health insurance runs around $200/mo, I'd have to check my pay stub. Employer pays a lot of it. [/quote]

You save over $10K a year in emergency funds and accept financial aid? [/quote]

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