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Forum
-> Household Management
-> Finances
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amother
Crimson
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 Mon, Jan 02 2023, 3:01 pm
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7000 shekel, I live in Israel, outside of the Mercaz. Couple with two kids, we own a car, and rent a 3 bedroom apartment.
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shabbatiscoming
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Mon, Jan 02 2023, 3:20 pm
| amother Crimson wrote: | | 7000 shekel, I live in Israel, outside of the Mercaz. Couple with two kids, we own a car, and rent a 3 bedroom apartment. | Thats how much you live off of or how much you need to live comfortably?
Your rent must be pennies 
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amother
Crimson
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Mon, Jan 02 2023, 3:30 pm
| shabbatiscoming wrote: | Thats how much you live off of or how much you need to live comfortably?
Your rent must be pennies |
Comfortably, thank God! 2000 shekel for rent.
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amother
PlumPink
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Mon, Jan 02 2023, 3:33 pm
| amother Wandflower wrote: | Those studies weren’t done in a Frum community where rich and poor live together.
Ofcourse if you’re living in a wealthy area your expenses will be a lot higher so you’ll “need” more.
Bh we have more than what we need. |
Don’t really see many here saying they are totally satisfied with what they have….
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shabbatiscoming
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Mon, Jan 02 2023, 3:34 pm
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Wow, you must live extremely frugally. Awesome!
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amother
Crimson
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Mon, Jan 02 2023, 3:39 pm
We don't, really. We have everything we need, and have extra to have fun too! 2000 for rent, 5000 for expenses.
Honestly, our quality of life is better than it was in the US.
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amother
Magenta
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Mon, Jan 02 2023, 7:17 pm
We make about 12,500 combined after taxes
Toms River 3 kids
We are really struggling now. One of my kids needs a ton of extra therapy/classroom support/psychiatric and even with amazing insurance we are literally choking at the end of every month. Hashem will help Iyh but it’s just a lot (think 2500-3k a month) it’s so draining because I am so frugal ( no cleaning help, make it all from scratch etc) everyone thinks we’re doing great but combine that with inflation and we’re really not okay.
I’d say to be comfortable right now and save properly we would need to be making another 5k a month min
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amother
Pink
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Mon, Jan 02 2023, 7:48 pm
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Currently making just under $40,000 a year, family of 4. I would say about another $50,000 would make us comfortable (also accounting for losing benefits)
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Wolfsbane
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Mon, Jan 02 2023, 7:51 pm
| amother Blueberry wrote: | For a breakdown:
Let me first say that I understood comfortable to mean we’ll set up and not “needs” only. If I’m wrong my number is less.
I want to pay a mortgage of $8,000 (with todays rates that’s on about $1 million) and that will give me a decent but not oversized house in Brooklyn.
I want to give Chomesh maaser so that’s $8,000
Car, insurance gas etc $700
Utilities $1,000
Life insurance and investment $5000
Health Insurance $2000
Copays dental etc $500
Tuition $2500
Food and groceries $4000
Cleaning help $1400
Exercise $400
Cash and gifts $3,000
Clothing $1000 (divided by year)
Misc $4000 |
2500 a month tuition for 7 kids?
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amother
Heather
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Mon, Jan 02 2023, 7:59 pm
We bh make enough to live comfortably
Combined income of about 300-350k
2 kids
Mortgage is 2100
Childcare 1600
Groceries 2000
Cleaning help -800
Cars and insurance 1000
Health insurance 750 (subsidized largely by my husbands company)
Life insurance 200
I don’t remember everything else but our monthly expenses are about 11k and we are able to put away nicely
I don’t take it for granted and trust me I have many many struggles in life aside from finances
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amother
Wandflower
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Mon, Jan 02 2023, 8:01 pm
| amother PlumPink wrote: | | Don’t really see many here saying they are totally satisfied with what they have…. |
This site skews young and poor
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amother
Ruby
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Mon, Jan 02 2023, 8:14 pm
| amother Wandflower wrote: | Those studies weren’t done in a Frum community where rich and poor live together.
Ofcourse if you’re living in a wealthy area your expenses will be a lot higher so you’ll “need” more.
Bh we have more than what we need. |
If anything in frum communities where everyone lives together it’s even harder to be happy with what you have and not feel like you need more.
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amother
Wandflower
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Mon, Jan 02 2023, 8:19 pm
| amother Ruby wrote: | | If anything in frum communities where everyone lives together it’s even harder to be happy with what you have and not feel like you need more. |
For the lower income bracket yes. But for the higher ones it’s easier to be satisfied since your basic expenses aren’t that much more than your poor neighbors.
We all pay the same for food, housing, tuition, clothes etc. ofcourse there’s a range! But in Beverly Hills you won’t find a store that sells cheap clothes. Your baseline will be a lot higher. You’re expected to spend more on everything and kids grow up thinking that that IS the baseline.
Whereas when I walk down the avenue I have stores that sell kids clothes for 20$ a top next to stores that charge 200$ a top. It’s easier to keep things in perspective that way.
In the secular world everyone is isolated in their own little bubble of income level.
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amother
Brown
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Mon, Jan 02 2023, 8:24 pm
Family of 7, we bring home about 90k after taxes and we need probably another 40k to just break even. One of my kids is in therapy and being tutored and that is eating away at our income.
And what we're spending on food and household products I would guess has almost doubled this past year.
ETA: live in an OOT community with pretty low standards
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amother
Ruby
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Mon, Jan 02 2023, 8:26 pm
| amother Wandflower wrote: | For the lower income bracket yes. But for the higher ones it’s easier to be satisfied since your basic expenses aren’t that much more than your poor neighbors.
We all pay the same for food, housing, tuition, clothes etc. ofcourse there’s a range! But in Beverly Hills you won’t find a store that sells cheap clothes. Your baseline will be a lot higher. You’re expected to spend more on everything and kids grow up thinking that that IS the baseline.
Whereas when I walk down the avenue I have stores that sell kids clothes for 20$ a top next to stores that charge 200$ a top. It’s easier to keep things in perspective that way.
In the secular world everyone is isolated in their own little bubble of income level. |
I disagree. People don’t move to Beverly Hills unless they want to live there. I have a relative who moved because she didn’t want to feel out of place in her Porsche. So she moved to neighborhood location where basic car is a Jeep or Lexus, many drive Porsches bmws, and the occasional Bentley and rolls Royce too.
Whereas in our neighborhoods we are made to feel that if we can’t afford private school tuition, daycamp, sleep away camp, tznius up to date clothing/suits and hats, seminary, kollel support, bar mitzvahs, weddings, extracurricular activities for kids, sheitels, nicer food for yom tov etc- then we are not comfortable.
All that and save for retirement.
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amother
Blueberry
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Mon, Jan 02 2023, 9:01 pm
| Wolfsbane wrote: | | 2500 a month tuition for 7 kids? |
Chassidish tuition is cheaper.
Not all kids are school age.
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amother
Wandflower
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Mon, Jan 02 2023, 9:33 pm
| amother Ruby wrote: | I disagree. People don’t move to Beverly Hills unless they want to live there. I have a relative who moved because she didn’t want to feel out of place in her Porsche. So she moved to neighborhood location where basic car is a Jeep or Lexus, many drive Porsches bmws, and the occasional Bentley and rolls Royce too.
Whereas in our neighborhoods we are made to feel that if we can’t afford private school tuition, daycamp, sleep away camp, tznius up to date clothing/suits and hats, seminary, kollel support, bar mitzvahs, weddings, extracurricular activities for kids, sheitels, nicer food for yom tov etc- then we are not comfortable.
All that and save for retirement. |
You’re not actually disagreeing with me. Wealthy or upper middle class Frum people don’t have the option to move to exclusively wealthy neighborhoods. But consequently they and their families aren’t put in a position where the baseline is higher than average so you need to reach or top that to feel comfortable.
We don’t choose our neighborhoods based on the cars we drive.
What I’m saying is, someone with our income level or higher maybe wouldn’t be living in Beverly Hills but I imagine we’d live in a neighborhood with less income diversity than I currently live in. I imagine that food, clothes, extracurriculars etc. would all be more expensive. And I’d be living there because maybe my other option would be a rundown low income neighborhood with higher crime and horrible public schools.
So I imagine if the baseline was high but that was my only option maybe I wouldn’t feel comfortable.
But as it stands my kids attend good schools even though my neighbors are of all income brackets. Local stores cater to all of those income brackets. My kids see all kinds of cars on the street etc. so, we’re comfortable. We don’t have to live on a high standard if we don’t want to.
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Wolfsbane
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Mon, Jan 02 2023, 9:38 pm
Got it - thanks for explaining.
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amother
Black
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Mon, Jan 02 2023, 11:15 pm
In Israel. 76k a month bruto (before taxes). We are both in hitech.
BH we are comfortable and can buy everything what we need (including an eye watering amount of therapy) and some of what we want. I'm not as frugal as I used to be, but that's mostly because I have less time and flexibility - I don't think my standards have gone up, just what I'm willing to pay for to buy back time.
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newinbp
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Tue, Jan 03 2023, 9:59 pm
| amother Heather wrote: | We bh make enough to live comfortably
Combined income of about 300-350k
2 kids
Mortgage is 2100
Childcare 1600
Groceries 2000
Cleaning help -800
Cars and insurance 1000
Health insurance 750 (subsidized largely by my husbands company)
Life insurance 200
I don’t remember everything else but our monthly expenses are about 11k and we are able to put away nicely
I don’t take it for granted and trust me I have many many struggles in life aside from finances |
I wish we could all be happy for one another. Please don't feel you need to mention that you have struggles, I want for you to have it easier financially AND in other areas! It's ok to be happy for one another I hope your struggles resolve in the best easiest way possible:)
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