Reply to At what point would a $6000 monthly mortgage make sense?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I really don't understand where everyone spends all their money. I'm the poster with the $6.5K mtg payment on a normal income and it is fine.  I pay about $3K/month to principal, which is damn nice. 
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I'm with you. We pay $7.3K a month in order to prepay the house before our kids go to college, and we are not at all considered rich by the DCUM's standards. And we have more than enough money left for everything else. I also don't understand what the high-income people are doing with their money. They are probably obsessed with saving $10-20M so their "rich" status can finally be approved by DCUM.[/quote]

Are you socking away money into your retirement account and have 6 to 8 mo. in emergency savings, college savings?  What is considered HHI?  More than $100K?  Didn't they say medium income around this area is like $150K or something?  Well I guess we could be considered above median at about $250K.

Our mortgage is $1850, and that includes tax and insurance. Actual mortgage is about $1200. We put a HUGE down payment on the house.  But it also costs $ to maintain the house, especially in the harsher climates.  Don't forget upkeep in the yards as well.   Utilities here can be upwards of $400/mo especially in the winter and summer.  Gas is damn expensive, and so is food. Childcare, too, if you use one.  Summer camps...oh my, with 2 kids, I can easily spend upwards of $2K. After school activities, pool membership, etc...  It all seems to add up.

What do we do with our money?  We save the max in our retirement so we are not a burden on our kids or society and having to choose between food and Rx when we are old.  We have 6 to 8 mo. in emergency savings.   Have you not heard about how so many people that got sick ended up losing their homes because of our ridiculous medical costs?  With the rest, we enjoy our lives, but not with material things. I do not care about having a "rich" status.  No, we don't have $10-20mil.  I wish.  I still drive a 10+yr old car.  Prob. will buy new one in next year but it will be under $30K.  We are not materialistic. I still buy clothes from Target, Kohls, etc.. We like to go on nice vacations with our kids at least once a year. Our families are on 2 different continents, so it gets expensive to travel.

We are very comfortable because we don't try to keep up with the Jones' and don't have to worry too much about losing the home if someone gets sick.  What do you all do with your $ for the HHI, but under $200K? [/quote]

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