Anonymous
Post 04/22/2023 17:23     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Our salary is now higher but ever since our HHI was 200k, we saved a third and the rest was taxes and spending. Never counted spending and the spending buckets.. always made a goal of how much we need to save and just spent the rest
Anonymous
Post 04/22/2023 09:08     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Every month, we make $24k in cash. We spend about $14k but it varies a lot.
Anonymous
Post 04/22/2023 07:47     Subject: Re:If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:HHI $280K

Mortgage: $4000
Private school tuition/summer camp in summer months: $3900
Travel (when budgeted across every month): $1200
All other monthly expenses go on credit card: $5000



You all are barely UMC (I’d feel broke in your income) and are living like you are solidly UMC.

Anonymous
Post 04/22/2023 07:29     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:HHI - 550-600k

We budget about 12-15k a month but that has a few thousand dollar buffer in the event of unforeseen expenses. Curious what others spend, all in.

This does not include our savings.


We don’t budget. We have passive and wage income coming in. We reinvest all passive income and do direct deposit into various accounts. We spend everything else or when we don’t (which is often the case) money piles up in our checking and use that to make big purchases (car, vacation, home renovations ect). I really can’t quantify what we spend because we don’t need to budget or track it.
Anonymous
Post 04/21/2023 21:50     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:
Anonymous wrote:Gross $314k
Take home $12.5k/mo.
Spend $9.4k/mo
Remaining goes to college, taxable savings, and Roth IRAs


Why is your take home so low?


Mega back door Roth IRA
Additional withholding to cover investment taxes for taxable accounts
Maxed family HSA
ESPP
So-so subsidized health insurance
Anonymous
Post 04/21/2023 21:14     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:
Anonymous wrote:HHI of around $4.5 million, DH makes 3.5, I’m at 1 million. We literally spend every penny of what’s left of my income after socking away 401k contribution, DH pays all
the taxes and we save the rest. $25k mortgage, 8k house/pool/lawn maintenance, 10k on mortgage/maintenance on 2d home, $5k a month on cars, 10k a month on 2 kids in private plus donations, nanny $6k, Vacations- 2 60k vacations a year = 10k a month, Food/entertainment/clothes= 10k. I literally have nothing left, don’t feel so bad taking money from DH at end of year if need be. Living in area is getting to be too expensive even for us and we feel fortunate.


🤔 Serious question: do you really classify yourself as UMC with a HHI of 4.5M? Trying to understand if you’re delusional or just have poor reading comprehension.


Don’t feed the troll.
Anonymous
Post 04/21/2023 20:55     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:HHI of around $4.5 million, DH makes 3.5, I’m at 1 million. We literally spend every penny of what’s left of my income after socking away 401k contribution, DH pays all
the taxes and we save the rest. $25k mortgage, 8k house/pool/lawn maintenance, 10k on mortgage/maintenance on 2d home, $5k a month on cars, 10k a month on 2 kids in private plus donations, nanny $6k, Vacations- 2 60k vacations a year = 10k a month, Food/entertainment/clothes= 10k. I literally have nothing left, don’t feel so bad taking money from DH at end of year if need be. Living in area is getting to be too expensive even for us and we feel fortunate.


🤔 Serious question: do you really classify yourself as UMC with a HHI of 4.5M? Trying to understand if you’re delusional or just have poor reading comprehension.
Anonymous
Post 04/21/2023 16:28     Subject: If you classify yourself as UMC, how much do you spend in total each month?
HHI of around $4.5 million, DH makes 3.5, I’m at 1 million. We literally spend every penny of what’s left of my income after socking away 401k contribution, DH pays all
the taxes and we save the rest. $25k mortgage, 8k house/pool/lawn maintenance, 10k on mortgage/maintenance on 2d home, $5k a month on cars, 10k a month on 2 kids in private plus donations, nanny $6k, Vacations- 2 60k vacations a year = 10k a month, Food/entertainment/clothes= 10k. I literally have nothing left, don’t feel so bad taking money from DH at end of year if need be. Living in area is getting to be too expensive even for us and we feel fortunate.
Anonymous
Post 04/21/2023 16:11     Subject: Re:If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:750k base plus $1-2m bonus

We live off just the base and save bonuses.

35k monthly take home

8k mortgage
2k country club
5k bills, insurance, cleaners
10-20k credit card spending on food, entertainment, travel

We don’t save anything from base salary. We will tap into bonus for renovations or larger purchases like a car.


You must’ve misunderstood the question. The spending habits of somebody who receives a $2 million bonus are irrelevant to an average upper middle-class couple making $300-$400,000 per year.
Anonymous
Post 04/21/2023 15:48     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:About $425K HHI, take home is about $18K after maxing employer-based retirement contributions.
1/3 is mortgage-$6K PITI
1/3 is savings-$6K (529s, savings accounts, investment account splits)
1/3 is spend-$6K (utilities, food, entertainment, small home repairs, travel, clothing, kids' activities, camps, bday gifts family and friends, and charitable contributions).


This makes a little more sense taking out mortgage from the spending equation. Still excluding the mortgage and the retirement and taxes, you spend less than $75k on everything else is that right? $6K a month for a house is a lot and probably in the top 1%. Just seems like other spending is quite small. Even long term goals? Does savings just mean saving for that bathroom makeover or is it retirement?
Anonymous
Post 04/21/2023 14:19     Subject: If you classify yourself as UMC, how much do you spend in total each month?
Anonymous wrote:
Anonymous wrote:DCUM middle class here with HHI about low $600s.

Just did this exercise recently and have about $9k mo expenses for family of 4.
This includes:
Kids activities
Pre school
Birthdays
Car maintenance
Gas
Utilities
Clothing
Food
Vacation
Home

And average about about $9k month and mortgage all I’m at $4k. We have no car payments.


600K salary put you in the 1%. By definition, it's not middle class. It's the top.


She knows that. She just wanted someone to remind her how high her salary is so she could feel good about herself. Mission accomplished.
Anonymous
Post 04/21/2023 12:06     Subject: If you classify yourself as UMC, how much do you spend in total each month?
About $425K HHI, take home is about $18K after maxing employer-based retirement contributions.
1/3 is mortgage-$6K PITI
1/3 is savings-$6K (529s, savings accounts, investment account splits)
1/3 is spend-$6K (utilities, food, entertainment, small home repairs, travel, clothing, kids' activities, camps, bday gifts family and friends, and charitable contributions).