|
|
|
|
|
Forum
-> Household Management
-> Finances
amother
Gold
|
Wed, May 09 2018, 10:24 pm
amother wrote: | $1.8k per month). And we have two leases for about $900 per month between both of them
Most of our expenses go through our credit card, so the numbers below are from that (according to Mint).
Shopping: $8k (This includes regular stores, online, walmart, etc..)
Food & Dining $7k (this is groceries and restaurants)
Amazon $3K (a big mix)
Auto $2k (Gas, AAA, EZPass)
Phone/Cell: $1k
Hotels/Uber $700
Pharmacy $400
So a total of about $28k for everything not counting mortgage, tuition, and leasing.
Thank you |
These numbers add up to 22 K without morgage, tuition, and leasing? Is there another category for the 6K you're spending? How many kids do you have?
| |
|
Back to top |
0
0
|
amother
Amethyst
|
Wed, May 09 2018, 11:07 pm
It doesn't matter if your spending is average. What matters is whether you are on track to reach your financial goals. What do you want to be able to do? Retire comfortably? Send the kids to college? Make big weddings? Help your children buy houses of their own? Figure out what those will cost and save accordingly.
If all your savings/investments are in real estate, you should probably diversify. Consider setting up an account at a brokerage account and having a certain amount automatically deducted from your checking account and put into an index fund.
It's important to keep personal and business funds separate.
Also, beware of luxury creep, where you start buying a good or service to spoil yourself and soon find that you can't live without it.
| |
|
Back to top |
0
2
|
amother
Natural
|
Thu, May 10 2018, 1:03 am
You really can't ask other people about your expenses, unless they're in the exact same income bracket as you. If you're doing fine (making ends meet, putting some savings away) then be happy with it. Otherwise, honestly, it sounds a little like bragging. Your expenses for the last quarter are the equivalent of our ANNUAL income so there's no way I'd be living a lifestyle like yours, though I'm not here asking questions because I'm able to make ends meet and put away a bit in savings. You live within your means, I live within mine, and we don't need to examine each other's credit card bills.
| |
|
Back to top |
0
3
|
amother
Pink
|
Thu, May 10 2018, 1:55 pm
amother wrote: | $28000 for four months does not sound like a lot to me. We spend around $20000 to $25000 a month and my dh makes about $300,000. |
Please tell me you added in an extra "0." You mean you spend around $2000 to $2500 a month, right?
| |
|
Back to top |
0
3
|
amother
Papaya
|
Thu, May 10 2018, 3:30 pm
amother wrote: | Wow that's cheap tuition! Is it a chassidish school? |
I’m curious too or maybe it’s just one child at school. What kind of business does your dh have?
| |
|
Back to top |
0
0
|
amother
Firebrick
|
Thu, May 10 2018, 4:42 pm
amother wrote: | I am trying to figure out if I spend more money then is healthy or not.
So there is two aspects to the questions:
1) Is what I spend a normal amount for someone not on a tight budget (no mater your income)
2) Is it Normal for someone who makes the income that we make. (self employed about $400k before health expenses and taxes)
Some background. We live in NJ, we currently own our house (25 years of mortgage payments left, at about $1.8k per month). And we have two leases for about $900 per month between both of them
Most of our expenses go through our credit card, so the numbers below are from that (according to Mint).
Shopping: $8k (This includes regular stores, online, walmart, etc..)
Food & Dining $7k (this is groceries and restaurants)
Amazon $3K (a big mix)
Auto $2k (Gas, AAA, EZPass)
Phone/Cell: $1k
Hotels/Uber $700
Pharmacy $400
So a total of about $28k for everything not counting mortgage, tuition, and leasing.
Thank you |
There is no such thing as "average."
But no, the average American does not spend close to $3000 a month on "shopping" (excluding groceries -- between "shopping" and Amazon). That's probably close to the median US income, after taxes.
I'm not criticizing your spending. It appears that you can afford it. Good for you. But, while I don't think its intended, it comes off as a "humblebrag."
And where are your expenses for health insurance, homeowners and car insurance? And the healthy chunk you should be saving for retirement.
| |
|
Back to top |
0
0
|
doodlesmom
|
Thu, May 10 2018, 5:05 pm
amother wrote: | Please tell me you added in an extra "0." You mean you spend around $2000 to $2500 a month, right? |
She obviously does mean 20k and for a large family it doesn't take much for the numbers to add up. If your earnings are $300,000 do you believe she is living on 2k a month ? Really?
| |
|
Back to top |
0
2
|
amother
Salmon
|
Thu, May 10 2018, 5:11 pm
amother wrote: | Please tell me you added in an extra "0." You mean you spend around $2000 to $2500 a month, right? |
Lol. My tuition and mortgage alone is close to $7000 a month. Sorry. No extra “0”.
| |
|
Back to top |
0
3
|
amother
Firebrick
|
Thu, May 10 2018, 5:12 pm
doodlesmom wrote: | She obviously does mean 20k and for a large family it doesn't take much for the numbers to add up. If your earnings are $300,000 do you believe she is living on 2k a month ? Really? |
Well, if the family earns $300,000 a year, expenditures of $20,000 a month puts them under water. That's after tax expenditures of $240,000 a year, which greatly exceeds the after-tax receipts on $300,000 income.
| |
|
Back to top |
0
2
|
tichellady
|
Thu, May 10 2018, 5:18 pm
Your expenses are not average and neither is your income. Not sure why average is relevant here. You seem to be doing well, and if you are saving and can cover your expenses then why does it matter? If you want a different lifestyle, then we could advise you how to live on less, but unless you want that, I don’t see a reason to change the status quo
| |
|
Back to top |
0
2
|
amother
Babyblue
|
Thu, May 10 2018, 5:51 pm
amother wrote: | Please tell me you added in an extra "0." You mean you spend around $2000 to $2500 a month, right? |
Why is that crazy? We spend about 11k including tuition and insurance, and we make about 150*
*net
| |
|
Back to top |
0
0
|
Related Topics |
Replies |
Last Post |
|
|
How much do you spend on pesach groceries on average?
|
32 |
Sat, Apr 06 2024, 10:30 pm |
|
|
Are we poor? What’s the average income
|
16 |
Sat, Mar 30 2024, 11:53 pm |
|
|
S/o List your income and expenses breakdown
|
15 |
Thu, Mar 28 2024, 1:54 am |
|
|
Wedding expenses
|
11 |
Tue, Mar 19 2024, 7:17 pm |
|
|
What’s the average pay for a regular job these days?
|
7 |
Sun, Mar 17 2024, 3:19 pm |
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
| |
|
|
|
|
|