Not making it help

amother

Snowdrop

Thu, Jun 09 2022, 8:22 am

amother [ Tan ] wrote:

Honestly these types threads always confuse me as If I'm missing something. I live in lakewood with 3 kids And make around 150k (after taxes) and feel like I'm managing amazing BH.
That gives me around 10k+ a month to spend.
1000 food
2500 mortgage
1000 cars
1600 childcare/tuition
Health insurance for us 500
My kids are on jerseycare and we are not.
I do not spend a lot on clothes and have no cleaning help.
(All the numbers are average )
I understand if my kids were older , needed camp, ..bar mitzvahs it would be more ..

How much is that pre tax?

amother

Obsidian

Thu, Jun 09 2022, 8:24 am

amother [ Tan ] wrote:

How are your kids on Jersey care if you make so much?

amother

Tan

Thu, Jun 09 2022, 8:31 am

amother [ Obsidian ] wrote:

How are your kids on Jersey care if you make so much?

amother

Lilac

Thu, Jun 09 2022, 9:18 am

[quote="amother [ Tan ]"]Bec during covid no one got thrown off and that's when our income went up significantly. I'm expecting to be thrown off very soon
One child has private insurance in addition bec we have some medical stuff for her...[/quote

You are supposed to report any change in income to jersey care and if you don’t they can and probably will make you pay them back for everything you got while your income was too high.

amother

Zinnia

Thu, Jun 09 2022, 9:23 am

[quote="amother [ Lilac ]"]

amother [ Tan ] wrote:

Bec during covid no one got thrown off and that's when our income went up significantly. I'm expecting to be thrown off very soon
One child has private insurance in addition bec we have some medical stuff for her...[/quote

You are supposed to report any change in income to jersey care and if you don’t they can and probably will make you pay them back for everything you got while your income was too high.

Because of Covid they are keeping everyone on regardless of income

amother

Whitesmoke

Thu, Jun 09 2022, 9:33 am

amother [ Zinnia ] wrote:

Because of Covid they are keeping everyone on regardless of income

Yes and it’s been amazing.

I think a big difference in finances is that you already own a house with a reasonable mortgage. We need to save aggressively for a down payment + are dealing with a crazy market so that changes how we view our income. Also, your health insurance seems really cheap.

amother

Lilac

Thu, Jun 09 2022, 9:48 am

amother [ Zinnia ] wrote:

Because of Covid they are keeping everyone on regardless of income

Wow that is amazing.

amother

PlumPink

Thu, Jun 09 2022, 11:22 am

You got lots of good advice here.
I just want to say I would consider keeping the gym membership.
I don't know how often you go, but if the gym is your way of staying motivated and consistent with fitness, it may well be worth the investment (now and in the long run).
Your health is important!
Of course I know you can exercise at home, but will you?
I would certainly reduce the grocery bills, and cut the manis, waxing and cleaning help - maybe even the second car - before the gym.
(If that still isn't enough, then re-evaluate the gym.)