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-> Household Management
-> Finances
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amother
Puce
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 Mon, May 30 2016, 12:39 pm
| amother wrote: | To be honest, we make more than that and still have to be frugal and watch what we spend.
Some depends on the community you live, so yes we'd have more discretionary income if we lived elsewhere but basically, very few of my friends who for the most part are part of two income families don't worry about expenses. |
Everybody has to worry about expenses. Very few have a blank check in life. However, the frum lifestyle does present a unique set of challenges which makes it difficult even for middle earning families with simple tastes to keep up.
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gp2.0
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Mon, May 30 2016, 12:40 pm
Lol. The reality is, you need to be frugal and watch what you spend at EVERY price point. No matter how much you have. When you have more money, you're living a higher quality of life and you have more security. That is indisputable. The more money you have, the higher your quality of life gets. But you STILL always have to be frugal and live within your means, because the more money you have, the more money you spend.
That's why lottery winners hardly ever stay rich. They think they have money now and they can stop being frugal. But really that never stops being true. You always have to think twice about spending. The difference is, someone on one level is going to have to debate whether or not to go without food or electricity this week, while someone on another level will have to decide about going without cleaning help or vacations, while someone on another level will have to debate about buying less expensive clothes or sending to a less expensive school etc. Even a billionaire will have to debate between buying a second private jet or private yacht.
Tldr: you're ALWAYS gonna feel that burn. So get used to it as a part of life, live and let live, be happy with what you have, and remember there are more important things in life than money.
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amother
Jade
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Mon, May 30 2016, 12:58 pm
We earn about $150k together, (work together for our own business) 3 kids (2 in school) so far were doing ok,
Mortgage $3600/month
Rental Income $1300/month
Tuition $7000/year
We were living on 40k (my salary) until now with parental rental assistance so this is a big breather for us.
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amother
Amethyst
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Mon, May 30 2016, 4:39 pm
I make about 20k (part time) and dh makes about 50-60k (his own startup business so not an exact set salary). Dh only started his business about a year ago so we're obviously hoping for a lot of growth over the next few years GD willing.
We pull in about 75k combined, we have one child and live in a rental apartment and basically live month to month. Occasionally we put away some savings, but nothing significant.
I'm curious what people's ages are- we're still in our twenties and hopefully still have a lot more potential for growth... Otherwise there's no way we'll be able to make it as our expenses go up..
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amother
Copper
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Mon, May 30 2016, 9:17 pm
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DH earns 200K a year. I make 14K working very part time. We both are software engineers.
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amother
Wine
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Mon, May 30 2016, 9:29 pm
I make 2500$ a month working pt
My husband makes 5k a month.
We're both 25. Just had our 2nd child. Hoping to increase our earnings with my husband getting a % of all company sales iyh.
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amother
Brown
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Mon, May 30 2016, 9:36 pm
Husband is in Kollel $400 month ($125 goes towards transportation to yeshiva) and does a tremendous amount which would cost us a lot- as in not caring about messes ( no cleaning lady) makes/prepares supper for us, child care in the morning and afternoon until I get home or to bring child from playgroup to babysitter (no housekeeper costs, minus a few hours of babysitting daily).
I bring in around 80-95 k yearly depending on the year (had a baby this year BH minus 6 weeks etc) and what we feel we can handle depending on our family life. Sometimes it's better to make a bit less and live more!
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BrachaBatya
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Mon, May 30 2016, 9:46 pm
I make $110,000
Hubby makes $135,000
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amother
Azure
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Mon, May 30 2016, 10:53 pm
Last year we made $31K between us. It was about half and half and I worked from home.
This year I'm not making anything (helping DH with his business and I'm staying home with the kids) but DH has 2 jobs and a side business and I'm not sure what he's making after business expenses until the end of the year but it's probably somewhere around $4000-$5000 a month.
I feel like we are well off because we make more than we really need right now, which I think is amazing, we are not on public assistance, and I can choose to focus on my kids and not on work. It's important to me to stay home with my kids. But I also could never afford yeshiva. I don't know how people manage to pay for yeshiva.
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amother
Cerulean
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Tue, May 31 2016, 12:22 am
I make 0
my Husband makes 0
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amother
Coffee
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Tue, May 31 2016, 4:44 am
I make between 8000-10000 shek/month
Dh makes about 2000 -6000 shek a month (freelancer building his business)
2 kids. We live comfortably but are not saving right now. Really hoping Dh's business increases so we can save.
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amother
Pumpkin
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Tue, May 31 2016, 10:18 am
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I make about $60k a year and my DH makes about $75k, so about $135k total. We both work full time. We have 2 kids, both in daycare currently. We live somewhat comfortably, meaning we cover all our expenses and put money away in savings and for retirement. But we are NOT big spenders at all, our home is very affordable (we pay about $1,150 per month for our mortgage, and that includes homeowners insurance and property taxes), and we don't really go on vacation (by choice). Things could easily be much tighter but we choose to be frugal and make sure we have a nice safety net of savings instead.
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amother
Bronze
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Tue, May 31 2016, 11:31 am
I make approx $65,000
Hubby $120,000
5 kids. BH
It is really true that no matter how much you are making you are always somewhat careful about spending and are never super rich. I have friends that have 7 kids and make a combined income on 100,000$ and managing bec they have no rent expenses and live in an apt owned by parents.
Another friend has $85,000 income bec hubby in school, and somehow they are managing. 4kids . struggling but managing.
Another makes maybe $60,000 combined income, with 5 kids and also managing. Also living in parents apt.
I feel it is all in the mindset and expectations of necessity vs luxury. Exactly like some poster above said. A friend will struggle about whether or not to buy meat and I will decide if it is worth it to have the extra babysitting for the special needs kid. Everyone penny pinches on their financial level. We are grateful to afford what we can BH.
All the info in my post is in NY. Just for reference...
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amother
Indigo
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Tue, May 31 2016, 11:42 am
Me: approx $70k
DH: 0 - in College full time
Its amazing how so many people are struggling on what I would consider a really nice salary. We are living month to month on my salary, but we can pay the bills and I'm chipping away at DH student loans while we're at it, with 2 kids.
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amother
Amber
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Tue, May 31 2016, 11:49 am
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DH earns 85K and I earn 60K...we have 4 kids, own a house , we live paycheck to paycheck...and barely spend money...we have exactly enough to cover house, food, tuition and the car....
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HonesttoGod
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Tue, May 31 2016, 12:48 pm
I earn around $30-40 K a year (working full time) (VERY Rough estimate I won't post my exact earnings online).
Dh earns around $40-50K a year.
We are struggling and looking to move out of the city.
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amother
Burlywood
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Tue, May 31 2016, 7:26 pm
| amother wrote: | | Another, what kind of a nurse are you? I am a nurse too and make less. |
I work at a hospital in Manhattan... I've been working for a year as a bedside nurse on a neuro floor..
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MagentaYenta
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Tue, May 31 2016, 7:41 pm
| amother wrote: | I make 0
my Husband makes 0 |
Not to pry, but how do two people survive without income?
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amother
Seashell
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Tue, May 31 2016, 7:43 pm
| amother wrote: | Me: approx $70k
DH: 0 - in College full time
Its amazing how so many people are struggling on what I would consider a really nice salary. We are living month to month on my salary, but we can pay the bills and I'm chipping away at DH student loans while we're at it, with 2 kids. |
The taxes on a single modest income when you have 2 or 3 kids are really not much. When you add another income and tuitions, the taxes and tuition eat people alive.
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amother
Cerulean
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Tue, May 31 2016, 7:49 pm
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My family supports us. My husband is in graduate school. And I'm a stay at home mom plus starting my own business
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