S/O how do people afford to live?

amother

Sapphire

Wed, May 03 2017, 7:28 pm

I only read the first page here, but it's appalling how only one post claimed that they are actually earning that money.

We earn nice paychecks bh. We can afford more than some other people (not rich, but enough for nice clothes, vacation etc).

Why do you all assume that everyone lives off cc debt or being supported by parents?

amother

Ecru

Wed, May 03 2017, 8:06 pm

amother wrote:

In general Jewish education is income based. Schools charge more depending on how much you earn. Resulting in just about everyone feeling squeezed. So 60k and 100k won't feel so different. At 60k you get a tax refund and charged less turion. At 100k your paying taxes and a couple grand turion.

This is true but seems like many people earn significantly more than 100k.

amother

Firebrick

Wed, May 03 2017, 8:26 pm

amother wrote:

This is true but seems like many people earn significantly more than 100k.

And pay significantly more in tuition. When my parents had 5 children in 5 different schools (different ages, genders, needs) they didn't get multiple child discounts, and sure, they were making a nice $150K (PRE-TAX) - but they were paying over $50K in tuition, because if you are making that much you can obviously afford it. So all of a sudden after taxes and tuition, they are bringing home about $4800 a month - and that has to cover mortgage, insurance (they certainly weren't qualifying for medicaid!), food and everything else.

amother

Ecru

Wed, May 03 2017, 10:00 pm

amother wrote:

My parents actually had a very similar situation to that when I was growing up. They made enough not to qualify for any help (tuition, insurance, etc.), but not enough to afford paying for everything. It's tough and frustrating. But the bottom line is still that their monthly net income after taxes and tuition was still considerably more than mine, and they were able to afford a house and I certainly am not.

Anyway, I am not trying to say who has it harder. And I know that there are people who make way more than I do and still can't afford a house or other things. Just saying that I am learning from these threads that people who ARE buying houses and who CAN afford regular expenses with ease generally have incomes (both gross, and net after taxes and tuition) much higher than mine (or significant help from parents).

amother

Orange

Thu, May 04 2017, 10:27 am

Where I live I wonder how people make money with the terrible education they are getting in yeshivas. I'm worried for my kids future........

The posters here seem to all be doing quite well comparatively. We live in a tiny apt. with a few kids and can't afford anything while working full-time on the books regular jobs. (oh yes, and we can't afford another baby because childcare /another tuition would completely destroy us)

Yes, make too much to qualify for any help whatsoever and make way to little to pay for a Jewish life style. Heck, I may have to send to public school soon. While others living off programs who have their own houses, etc. can afford yeshiva????? How does it all add up.
Sorry if I sound resentful, it's because I am.

amother

Ivory

Thu, May 04 2017, 11:09 am

The thread title reads;
How do people afford to live?
This is mind boggling to me...
The straightforward answer is; No. I can't afford to live.
So no what?
Because I can't afford to live, Should I die? How? Any ideas?
I wake up every morning and there is breath coming through me. Apparently there's Someone in Higher position than me that decides that I will live despite my shattered monetary dreams.
After we've done our hishtadlus, we most come to realize that;
L'Hashem H'uretz Imloiu...
To G-d belongs the world and all that is within. It's not our money, we are not the ones who succeed or afford. It's all in HIS hands.
I pray posayach es yudechu...

gp2.0

Thu, May 04 2017, 12:21 pm

amother wrote:

This is a spinoff of the affording houses post. I feel like I wonder this about so many things. I live in an area where tuition is very cheap. 5-6k. I have 3 children. After taxes, tuition and insurance we come home with about 9k a month. Mortgage + tax around 3k. We live comfortably enough, no complaints, but we rarely take vacations, have yet to furnish most of my house, etc. Can't imagine having a lot children and affording to live well. Is everyone really making so much more money than we are? We don't use credit cards... is that the answer? I just doubt everyone is living on credit card debt...

How's your budget? It seems like you should be able to afford vacations and furniture - maybe not on a whim but you can definitely save up for it. For example if you're putting $1500 in savings every month, earmark $150 for furniture and $150 for vacations. Every 6 months, you have $900 to spend on furniture. Every year, you have $1800 to spend on a vacation. So you can either take a $600 vacation 3 times a year or a $900 vacation twice a year or an $1800 vacation once a year or a $5400 vacation once every 3 years. YMMV depending on how much you're putting into savings and what your priorities are.

SixOfWands

Thu, May 04 2017, 1:08 pm

amother wrote:

Please speak to a financial adviser.

A family's biggest expenses are generally housing, insurance, tuition and taxes (of course). After all of those, you still have $6000 per month for utilities, food, transportation and sundries. Unless you have large debts that you are repaying, you should have no problem saving for major expenses like furniture and vacations. Not to mention retirement. If you're not, a financial adviser should be able to help you figure it out.

amother

Chocolate

Thu, May 04 2017, 1:11 pm

We make under 100k a year we dont live in NY but live in the tristate area and not a super cheap part but we got our house super cheap with money I made before we were married and never touched. Also came into a bit of money at one point . Most of our furniture is 2nd hand. I use coupons for household goods my kids wear mostly hand me down with things I fill in and that I always look for the best deals. We did have some cc debt but it's was 85% medical related expensive and we got help to pay it so now we not paying interest and close to paying it off . In general we try not to use CC. I work but have my kids with me until I need to send to school so that also saved $ . I have never been eligible for government programs and so how we always manage I guess it's how you look at things and what you are willing to do without. We don't use disposable hardly get take out hand me down clothing buy shoes at Target ....

amother

Ivory

Thu, May 04 2017, 1:33 pm

SixOfWands wrote:

Sometimes peope have to be reminded that the way they are living is already the definition of 'living well'. They have to be made aware that they are in a good place.
Of course the sky's the limit to how much money one can have.
Still everyone has free will to be happy with thier lot or to accumulate c.c debt. or to just see how little you have according to someone else.

amother

Black

Thu, May 04 2017, 1:55 pm

This was 20 Yrs ago.

I worked in my kids school.
I got 50% tuition and a small salary, $1000 a month after tuition was paid for.
With those $1000, I paid for maid 2x a week.
I was the bus monitor, as well. Did not need a car to get to work. Also, did not need to pay for bus service for my kids.
Also, school provided a baby class for all the teachers, which was a lifesaver.

I got home at the same time as the kids, so didn't need a baby sitter

DH took care of the rest of the expenses,$50,000 yrly salary,which was considered good in those days. We lived OOT, less expenses.

My parents bought us the house and took care of the mortgage. At that time it was $100, 000

Didn't buy sheitels or jewelry. Bought cheaper clothes on sale.

DHs parents would pay for tickets to visit them 1x a yr, and that was our vacation.

Kids went to day camp. There was a special government funding that provided this, that we qualified. Paid $20 per kid, including breakfast, hot lunch, trip 2x a week, and bus service.

Honestly if my parents didn't buy us the house we wouldn't of made it so comfortably.

amother

Slategray

Thu, May 04 2017, 4:28 pm

Firstly thank you to all who suggested we see a financial planner. I am going to follow that advice.

I also want to add that I have gone through times when I haven't been quite able to afford to "live". Obviously my title does not assume the other choice is death. But we struggled, couldn't pay tuition etc. So this isnt a clueless post about how do people with less money afford to live. Nor is it focusing on those who have more. More like where am I going wrong now that we are doing much better financially. And I'm coming out with
1. We should see a financial advisor
And 2. There are those who are supported or live off CC.