Reply to Families of five, making under 150k, share your budget

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am often baffled on this forum how people have ability to make a decent income and still struggle to understand how to live within a budget.  And no OP that was not directed at you.    Just in general here on DCUM.  Either it seems people want to live beyond their means, keep up with Jones, or not make necessary cuts/certain steps to obtain financial wellness/security/ what have you.  I can post a budget, but I hesitate as I often find people don’t want to live the way we can afford to live in this area.  However, I for one, do not want for much.  I think it will help you to think about what truly brings you joy and eliminate non-necessities that don’t. Think in terms of your $ being spent as your life energy (because you labored for it at work). So really eliminate excess and focus that $ on the things that elevate your life.  For you, not to impress neighbors, not on autopilot spending because “that’s just what people do.”  Hope this helps![/quote]
A lot depends on when you are in a position to buy a home. I remember when we moved to DC 20 years ago, modest homes in bedroom communities outside DC were listed in the low $200k range. By the time we saved our down payment 3 years later those houses were in the $300k range and now 15 years later they are in the $500k range. Needless to say salaries have not gone up by 150% in the last 20 years. 
When people on this forum say they have very modest PITIs I always wonder if they were lucky enough to buy a long time ago. Federal salaries have not kept pace with housing and childcare costs in the DMV[/quote]

Interest rates have also come down substantially from 20 years ago. That added quite a bit of buying power. [/quote]

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