Reply to Can you survive with 7,000 monthly income after taxes ?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I bring home about $7500/month after taxes and after maxing 401(k) and HSA. Wife is a SAHM (does some part time work). We have two kids in public HS. Life is similar to what a lot of people have mentioned...enough to be OK but NICE vacations are scarce, going out to eat is rare, upgrading clothing/furniture is rare (thank goodness for tele working), etc.  We do put $750/month into each of their 529s so $1500/month for both. So that leaves about $6000K to live, pay bills, save for vacations and all of life's unexpected twists and turns, etc. We have no mortgage and two paid off cars. Some of those things are $700/month for utilities (Gas, Electric, Water, sewer, trash, and cable). One kid plays a top level club sport on national level. That's at least $1,000/month on average. $1750/month on groceries and ordering in. Try to save $1500/month for repairs, insurance, property taxes, car taxes, etc. So that leaves about $1000 for everything else for the month. Out of that is what we have for date night, birthdays, vacation savings, doing whatever. I know people have it much worse but it's not living in luxury.[/quote]You spend a grand a month on a kids sport - that is a lux spend. [/quote]
At least $1,000...on average when you factor in travel expenses. This is for soccer.  It's like $3000 for regular fees per year and then $750 for team fees per year.  Our league consists of MD, VA, and NC so we travel to NC a few times a year for league games so there are hotels, food, gas, etc. for that. We did showcases in SC and FL this year so flights to FL and hotels. Last Summer, we were in San Diego for almost a week. Flights and hotels and food. This is a big expense and it's a luxury for the kid but it takes away from other things of course. Prior posters have said that they would have to give up travel sports for their kids if their income was $7000/month. If we had a mortgage and/or car payments, we wouldn't be able to afford it. Or if the other kid played sports at this level.    [/quote]

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