Anonymous wrote:Why wouldn't you have health insurance just because you make 55k? So everyone who has employer provided healthcare who makes 55K would decline it? I had heatlh insurance when I made 20K and worked as a legal assistant at a law firm. yes, they took out the premiums pre-tax but the fact is I still had it.

Because in the OP's situation one parent isn't working. The parent who isn't working may not have access to their partner's heatlh insurance if they aren't married. Or they may not be able to afford it as many employers don't contribute anything to family health insurance.

DH makes $55k and I stay home with 2 kids. DH pays child support for another child. We all have health insurance; this particular plan has the same premium cost whether you have 1 kid or 10 + a spouse. We bought before the boom and our mortgage is around $1k, which makes it all doable for us. If we had to rent or get a mortgage now, I'm not sure how we'd manage.

And, PP, if "nobody wants you when you are not spending money," then maybe you have the wrong kid of friends.

I guess it could be done, but I can't imagine doing it without living in what would amount to be a poverty-like situation.

Anonymous wrote:

Anonymous wrote:Not without some type of govt assistance - reduced fee daycare, food stamps, housing assistance, disability income,etc

Earning 55K doesn't qualify you for govt assistance. You must be one of those "I am barely getting by with my 250K HHI" nutters.

Since so many of those with 6 or 7 figure incomes have no clue what government assistance is based on, many government assistance programs are only available for people who earn less than a certain amount. WIC is available to those making 185% or less of poverty income. Other programs are based on earning less than 200% of the poverty level. AFAIK, 200% of poverty level is the highest eligibility for federal aid.

2011-2012 poverty level for 1 is $10,890. For family of 2 is $14,710. For a family of 4 is $22,350.

You would need a family of 6 to qualify for only the most leniant (200% of poverty) of government benefits at an annual income of $55K.

Anonymous wrote:Not without some type of govt assistance - reduced fee daycare, food stamps, housing assistance, disability income,etc

Earning 55K doesn't qualify you for govt assistance. You must be one of those "I am barely getting by with my 250K HHI" nutters.

it is with sacrifices and there are still things i wish we had.. like my son his own bed, like the new toys he wants, going to the movies, etc...

but we are lucky to be in an area with a lot of free things to do and he does not realize hes missing out ...

the big question is do we continue to skate by and I put him in private school or do I have a little extra money and put him in our sucky pubic school :/

Anonymous wrote:

Anonymous wrote:It's doable, although it would be tight.

You likely wouldn't have health insurance for the adults, eat out, or other luxuries, but you could cover the basics.

I am still shocked that people consider health insurance a luxury. People are congratulating the previous poster on making it work on 36k but in reality she isn't. She is one accident away from debt up to her eyeballs. I want to be clear that I am not in any way criticizing her choices. She is obviously on top of things and her child sounds well provided for. I just think it is a shame that health insurance isn't a basic. I was stressed and worried all the time for the brief period during and after college when I didn't have health insurance and I can only imagine how that stress would have been increased if I had someone else to provide for.

Im the 36k poster and while your right Im one step from a disaster I will say in my opinion we are doing fantastic but 2 years ago I was jobless and we were homeless so we are doing VERY well at this point and I have worked 6 to 7 days a week to us there...with no assistance (we did use food banks at one point but thats all we have ever got- pride is not always a good thing but I guess being stubborn is because we got out of the hole we were in)

Anonymous wrote:Many jobs that pay $55K might not offer health insurance.

You are out of touch with reality.

Many jobs that pay $55K might not offer health insurance.

Why wouldn't you have health insurance just because you make 55k? So everyone who has employer provided healthcare who makes 55K would decline it? I had heatlh insurance when I made 20K and worked as a legal assistant at a law firm. yes, they took out the premiums pre-tax but the fact is I still had it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's doable, although it would be tight.

You likely wouldn't have health insurance for the adults, eat out, or other luxuries, but you could cover the basics.

I am still shocked that people consider health insurance a luxury. People are congratulating the previous poster on making it work on 36k but in reality she isn't. She is one accident away from debt up to her eyeballs. I want to be clear that I am not in any way criticizing her choices. She is obviously on top of things and her child sounds well provided for. I just think it is a shame that health insurance isn't a basic. I was stressed and worried all the time for the brief period during and after college when I didn't have health insurance and I can only imagine how that stress would have been increased if I had someone else to provide for.

Agree with you about the health insurance. It is shameful that families cannot count on having health insurance. It is too important an item to be considered a luxury, and private policies cost an arm and a leg. We used to have to buy our own, and it cost our family 22k/yr for very basic coverage. That's ridiculous for someone who makes 55k/yr!

I'm the top poster here. Wanted to clarify that I should have written "Likely the adult at home wouldn't have health insurance. In addition they wouldn't be able to eat out or have other luxuries." I don't want to imply that health insurance is a luxury.

So much of this depends on your financial position going in. A family that makes the decision to have an At Home parent years in advance, and has one parent quit their job after they've got a cushion in the bank, a paid off house, or at least one that's significantly paid for, a car in good condition, etc . . . can do fine, whereas another family who has none of those things because they have only worked their way UP to $55K may find themselves in a different position.

Similarly, there are other kinds of support to consider. What kind/cost of health insurance does the employed parent's job provide? What kind of commute does he/she have (commuting eats up a lot of money). Is there family support? Even if it's not financial being able to use Grandma's when you need a babysitter is hugely helpful.

Yes, it can be done -- but it takes effort and some sacrifices. We've been supporting our family of 5 on two part-time incomes amounting to the low $50s since I lost my full-time job a few years ago during the recession. We were well-positioned to start with because our Hyattsville house was cheap and already paid off, and we had no car payments on our two cars.

I negotiated with utilities to cut our Internet, landline and cell phone bills by more than half. We get financial aid at our parochial school. We both work from home and so incur no commuting or daycare/after-care costs. We eat out when we're treated by friends or get gift cards. We converted a good part of our backyard into a vegetable garden. We vacation by staying with friends who live out-of-state. We buy nearly all our clothes at thrift stores. Our income is low enough that we pay no income tax.

It's actually not a bad lifestyle. We aren't saving for retirement, but haven't dipped into our previous savings at all. And we have more time for our families and meaningful volunteer work, and less job-related stress. I know a lot of people making a lot more money who are not as happy.

Of course, its doable. I purchased my house in 2003 for 180K in a decent Dc area- working class ward 4 before the housing market boom. Have two daughters 18 & 2. Oldest just completed first year of college. Only recd $1400 pell grant. I dont recd any govt assistance.

Good thread. This makes me realize that, yes, we CAN afford a second child, we just have to buckle down a bit more! We don't make a ton by DCUM standards, but I am reminded that we are very, very fortunate.

It is not necessarily how much money you have, but how much you need to be content.
Someone will find it hard to not buy a sunhat for $12, another will cry that she cannot get a $500 Coach purse that has recently gone on sale.
A poor person generally has no friends. Nobody wants you when you are not spending money.
At least the person who cannot get that $500 purse can make it look like they have money. In someways that is really really important in this region. Do not despair. We just happen to live in a time where everyone worships money and counts your worth based on how much you have.
The consumer society has gone crazy. There is no way we can consume everything that is for offer in the malls. That alone would be wasteful and harmful to the planet

buying friends with money is like buying useless junk that with money you do not have