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How do you stretch the dollar?
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amother
Mistyrose


 

Post Tue, Mar 28 2017, 1:04 pm
my husband and I are struggling , we both work full time

I always wonder like what will be next? I cut corners everywhere I barely spend money
just the basics of rent , tution , utilites ect . we have 3 kids and our basic bills are about $5000 each month
do you just stop having kids - not that it will help the situation but what is expected from us?

and how do people manage?
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lifesagift




 
 
    
 

Post Tue, Mar 28 2017, 1:15 pm
Keep a journal n write down every dollar u spend. Go over every few weeks n it may inspire u to save in places u didn't realize u were spending
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pesek zman




 
 
    
 

Post Tue, Mar 28 2017, 1:16 pm
I think it would be more helpful if you are specific with what and how you are spending your money currently

But to answer your question, yes, many people don't have (more) children until they can afford them.

I cut corners all the time. We live in a tiny apartment that would shock most people, but it's in our budget and we can maintain it. We don't have cleaning help, we don't get takeout, the list of things we don't do goes on and on.
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saw50st8




 
 
    
 

Post Tue, Mar 28 2017, 1:21 pm
There are two ways to fund your lifestyle - earn more or spend less.

DH and I did it by delaying having children for a few years and then keeping our lifestyle relatively simple (we have no cleaning help, don't eat out often, don't get new clothes often etc). We've matched our income to our expenses.

For us, that means at this point, stopping at 4 kids.
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amother
Mistyrose


 

Post Tue, Mar 28 2017, 1:27 pm
I would be extremely sad to stop at 3 kids...
I feel like there is something that I dont know about
I see pple like me with 7 kids and seems like they manage fine

our expenses are roughly

$2000 rent
$2000 tution
$400 cars gas/insurance/tolls
$400 food
$400 utilites

cant think of anything else and we both earn about $5000 /month!
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amother
Cobalt


 

Post Tue, Mar 28 2017, 1:29 pm
People manage with what they have. Usually people who spend more money have more money or are in debt. My husband makes about 25,000 a month. That's how we manage. I probably also spend a lot more then you do.
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pesek zman




 
 
    
 

Post Tue, Mar 28 2017, 1:35 pm
amother wrote:
People manage with what they have. Usually people who spend more money have more money or are in debt. My husband makes about 25,000 a month. That's how we manage. I probably also spend a lot more then you do.


Hard to use the words "25k/month" and "manage" in the same sentence

Be grateful. BH
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amother
Chocolate


 

Post Tue, Mar 28 2017, 1:44 pm
Repeating what others have said - earn more or spend less. Your tuition, medical, clothing and food bills will go up with time, even if you stay in the same house. Do you have the opportunity to earn more? Can you move someplace less expensive?
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amother
Floralwhite


 

Post Tue, Mar 28 2017, 1:49 pm
pesek zman wrote:
Hard to use the words "25k/month" and "manage" in the same sentence

Be grateful. BH

I agree! Some of us have that for a yearly salary!
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tichellady




 
 
    
 

Post Tue, Mar 28 2017, 2:03 pm
pesek zman wrote:
Hard to use the words "25k/month" and "manage" in the same sentence

Be grateful. BH


Someone making that amount may very well be spending most of the money they take home on tuition (if they have a number of kids).
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pesek zman




 
 
    
 

Post Tue, Mar 28 2017, 2:11 pm
tichellady wrote:
Someone making that amount may very well be spending most of the money they take home on tuition (if they have a number of kids).


That's all fine and well. But 300k take home is a very nice living. BH
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amother
Silver


 

Post Tue, Mar 28 2017, 2:12 pm
tichellady wrote:
Someone making that amount may very well be spending most of the money they take home on tuition (if they have a number of kids).


My heart bleeds for them. Not.
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zaq




 
 
    
 

Post Tue, Mar 28 2017, 2:46 pm
There's poverty, and then there's psychological poverty. The first involves being unable to provide or having a very hard time provide the basic necessities. the second involves having fewer resources than most of the people with whom on associates. One who earns 50K a year in a community in which most earn 25K will be considered, and one hopes will consider himself, rich. One who earns 500K a year in a neighborhood where most earn twice that will consider himself poor. That's psychological poverty.
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amother
Babypink


 

Post Tue, Mar 28 2017, 2:49 pm
Sorry, don't really have tips, just wanted to say that we're also struggling due to tuition and bills. I also have 3 kids and I really want another one, but the financial situation is stopping us, so yes... I think that not having much money can stop people from having more kids (not sure how people manage money with so many kids!!).
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tichellady




 
 
    
 

Post Tue, Mar 28 2017, 2:50 pm
amother wrote:
My heart bleeds for them. Not.


I'm not saying you should pity them I'm just explaining that with the many expenses expected in a frum lifestyle (tuition being the biggest one) many people, even people who are objectively very well off, feel they need to stretch their dollar. I am not blaming anyone, just telling you how it is.
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amother
Cobalt


 

Post Tue, Mar 28 2017, 3:00 pm
pesek zman wrote:
Hard to use the words "25k/month" and "manage" in the same sentence

Be grateful. BH


Actually, you would be surprised with how much of it goes. We have a lot of expenses that most others don't have. Bh, not complaining. We are comfortable.
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amother
Rose


 

Post Tue, Mar 28 2017, 4:57 pm
I also wondered how people with many kids manage with all their kids dressed in nice clothing and the father in kollel
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amother
Brunette


 

Post Tue, Mar 28 2017, 5:01 pm
I recently had a real eye opening experience by reading total money makeover by Dave Ramsey . Made a real accurate breakdown of every dollar we earn and spend monthly for the first time. Was really eye opening ( and depressing). you are tight, but reading his book will really help you see things differently and hopefully help you manage your money and not feel so helpless. Hatzlacha!
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amother
Brunette


 

Post Tue, Mar 28 2017, 5:03 pm
Also, after reading the book my husband and I came to the conclusion that there's no magic money! When you look around you at people blowing money, either:
1. They can afford it
2. They are getting financial help
3. Credit cards!!!!!!!!!!
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nywife




 
 
    
 

Post Tue, Mar 28 2017, 5:06 pm
My suggestion is 1. Move somewhere with a lower cost of living or 2. try to increase your income. I presume you are bringing in somewhere around the 5K mark per month? Is that combined income? If so- is there a chance of switching fields or increasing your education to increase your pay? And if it's not combined income is there the possibility of the non-working spouse to work?
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