How much do you spend...

amother

Olive

Mon, Mar 14 2016, 9:36 pm

How much do you spend a month?

How much do you make (combined income)?

How many children do you have?

Where do you live?

Do you consider yourself poor, lower middle class, middle class, upper middle class, well to do, wealthy, other?

At what salary would you consider someone else wealthy? Poor? Middle class?

Thanks for your responses! Anonymous enabled, obviously.

amother

Gray

Mon, Mar 14 2016, 9:58 pm

We spend about $30,000 a month (but at least a third of that is taxes and charity)
(I know, I know, we are currently reworking our budget.)

Our income fluctuates, but in a slow year we earn about $400K, and in a good year up to almost $1million.
We have two children, in New York.

I consider ourselves well to do. I think one has to make at least a million dollars for a few consecutive years before one is considered wealthy. I don't know how the numbers for middle class or poor.

amother

Aqua

Mon, Mar 14 2016, 10:10 pm

We make $750K/year before taxes. We spend about $15K/month. We live in the midwest.

We are upper class, obviously. We live pretty modestly actually because that's just how we are. (I have very minimal cleaning help and often go without any for months, no takeout food, no nanny or anything, no fancy vacations, minimal to no camp in summer etc etc)

However we are truly lucky to be able to give lots of tzedekah and we have great savings accounts/investments plus college accounts for our kids.

amother

Turquoise

Mon, Mar 14 2016, 10:11 pm

We earn about 80k combined income. Three kids in New York.
I wish I'd keep track of our monthly spendings, but sadly I don't. I'd venture to say it's about 3,000.
I think of us as being stuck in middle class. No programs or cheap insurance yet can't afford too much extras.

amother

Silver

Mon, Mar 14 2016, 10:14 pm

amother wrote:

How much do you spend a month?
We spend about $5000 per month, including about $1700 on tuition, $1250 on mortgage.

How much do you make (combined income)?
we make about $5000 per month post tax - about $72,000 pre-tax I think

How many children do you have?
[color=red]6 bli ayin hara
[/color]
Where do you live?
[color=red]Baltimore MD[/color]

Do you consider yourself poor, lower middle class, middle class, upper middle class, well to do, wealthy, other?
[color=Font Color]lower middle class (but sometimes we feel very poor when we cant afford things that some people see as necessities, eg camp of any kind , sleep away or day camp for our children... Sad

) and sometimes we feel wealthy when we see how blessed we are with 6 precious children to raise. Hashem is so kind to us BH.[/color]

At what salary would you consider someone else wealthy? Poor? Middle class?
really depends on their family size I think.
[color=Font Color]with same number of kids as us, in same location, I think poor = earning less than $60,000 per year. Just making it with paying full tuition (I wish we were able to do that...) = $140,000
Wealthy = maybe $250,000 per year?[/color]

Thanks for your responses! Anonymous enabled, obviously.

amother

Jade

Mon, Mar 14 2016, 10:14 pm

amother wrote:

How are you spending so little? I'm the previous amother with similar sitch but we do have medicaid and dont pay tuition for a certain reason.

amother

Turquoise

Mon, Mar 14 2016, 10:18 pm

amother wrote:

How are you spending so little? I'm the previous amother with similar sitch but we do have medicaid and dont pay tuition for a certain reason.

Oh I totally excluded tuition - make that another $1000 or so. (It automatically gets deducted from my credit card so I don't even realize that I'm paying it)

But we do have a bit less expenses mostly because my apartment was bought by my parents and we do not post mortgage or rent.

amother

Violet

Mon, Mar 14 2016, 10:21 pm

How much do you spend a month? More than we make, around $7500-$8000 living very frugally, tuition is very high, rest we rack up credit card debt and loans

How much do you make (combined income)? $60,000, expecting change soon.

How many children do you have? 5

Where do you live?

Do you consider yourself poor, lower middle class, middle class, upper middle class, well to do, wealthy, other? Poor to lower middle class, I can't afford groceries or to replace torn shoes but own a home BH, so don't feel we belong in poor category. We make too much to qualify for programs.

At what salary would you consider someone else wealthy? Poor? Middle class? It's relative to expenses. I think anyone able to cover monthly expenses and being able to pay for yomim tovim, camps and occasional vacations is at minimum mid-level middle class. I believe wealthy is when no panic sets in at thought of making a wedding, possibly buying a summer home, family trip to EY and being able to buy what you need when you need or want.

amother

Jade

Mon, Mar 14 2016, 10:23 pm

amother wrote:

now it makes sense Smile

MamaBear

Mon, Mar 14 2016, 10:24 pm

amother wrote:

Best comment Wink

Most of us pay rent or mortgage and it's more than just "a bit" of our expenses!

amother

Oak

Mon, Mar 14 2016, 10:27 pm

We make about $3200 a month after taxes. We live in Chicago. 2 kids one in school and one home with DH. We spent almost all of that. Bh no debt but not much for savings. We are simple people who don't have much desire for most luxury items. We have one car, cleaning help a few times a year and takeout is the cheaper places. Our income has been slowly increasing bli ayin hara over time. I honesty don't see my spending habits changing a whole lot. It's just my nature.

We are low income but we do our best and I try to have a positive attitude.

amother

Maroon

Mon, Mar 14 2016, 11:56 pm

amother wrote:

What do you for a living?

amother

Peach

Tue, Mar 15 2016, 5:00 am

In shekels , we make between 150,000 to 170,000 per year.
We spend just about every penny (about 14K per month) putting away less than 500 shekel per month in savings.

Our apartment will be paid up in a few years B"H (had help with down payment from parents)
and that will free up 3.5 thousand shekel per month.

I consider ourselves lower middle class.

amother

Goldenrod

Tue, Mar 15 2016, 6:32 am

amother wrote:

How much do you spend a month?
3K

How much do you make (combined income)?
5k --I am about to graduate and my dh is in an entry level position and about to move up. This will be up 40K next year.

How many children do you have?
1 with another on the way!

Where do you live?
Baltimore

Do you consider yourself poor, lower middle class, middle class, upper middle class, well to do, wealthy, other?
middle class

At what salary would you consider someone else wealthy? Poor? Middle class?
I have no idea. My family is still small. I don't have tuition to pay. I live OOT. On 60K post-taxes (80K pre-tax), we are still saving 24K a year. We have ~70K in savings. ~We have 40K in student loans. I am guessing in my city to be well off, you need ~20K/person to live comfortably and save --this number includes tuition.

Thanks for your responses! Anonymous enabled, obviously.

amother

Ecru

Tue, Mar 15 2016, 11:29 am

we live in NY
Combined income: around 140K
5 kids bH
monthly expenses around $10,000.
Consider ourselves low middle class. BH we have everything we need!
I am wondering how the poster above lives, making only $60,000 with the same number of children. She didn't write where she lives but with that amount of income in NY she can get benefits.

amother

Mauve

Tue, Mar 15 2016, 11:39 am

We make 6,000 monthly after masser and tax. That's also after taking out money for retirement funds.
We spend $5900 on expenses. (Mortgage, day care, insurance, medical, groceries, utilities, cars)

Consider ourselves low middle class. We have enough to pay our bills and indulge on extras once in a while.
1 child and live in Midwest.