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Reply to "Can you survive with 7,000 monthly income after taxes ?"
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[quote=Anonymous]It's doable but you definitely need to keep the big ticket expenses (housing, childcare) in check. In this area it's easy to spend that amount in just a mortgage payment and daycare for a couple kids alone! We had around that amount take home pay when our youngest was born. We bought a modest house 9 years ago when interest rates were low, so our PITI is only $2k per month, so there was some luck there too with timing. That would be much harder to achieve today. We chose an in-home daycare over a center for the infant years so daycare was only $1300 per month. By the time we had our second, our salaries had both increased slightly and now our monthly take home pay is closer to $9k per month, which provides a lot more breathing room. $7k per month would have been harder with two kids in daycare, we might have had to space them out more.[/quote]
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