how much is your family income

self-actualization

Fri, May 27 2011, 5:11 am

I am always interested in these topics. More than the actual numbers, I would love to hear how people perceive their own comfort level - e.g. someone in Bergen County making $250k and feeling like they are struggling, versus someone in Baltimore making 60k and feeling quite comfortable? Or, someone who lives in a kollel kind of neighborhood, and feels pretty swell because their income is more than the average, versus someone who lives in a neighborhood of young couples being supported and feels like the town nebach? I have seen all of the above scenarios except for the Baltimore one (unfortunately I only have one friend there and we've never delved into her finances, but I think my numbers are still roughly on target).

amother

Fri, May 27 2011, 5:15 am

self-actualization wrote:

I live in a very expensive city in Israel and if you wanted to compare us to most people who live here, we would be considered struggling, but BH we do not feel that way at all (many people here with very grand big homes and big cars and we live in a three bedroom apartment and are just fine with the way we live even though everyone around us has more and are probably much more comfortable than us.

obagys

Fri, May 27 2011, 5:58 am

self-actualization wrote:

I live in Baltimore and on 60K we would not be comfortable at all - my kids tuition for the upcoming school year is over 30K!! Coupled with the mortgage (over 2K), that would eat up most of the income!

Like I think someone previously mentioned, throwing out numbers and even locations doesn't give a true picture because it depends on family size (and even age of the kids) and personal expenses, which vary greatly from one family to the next. There are just way too many variables to accurately compare.

amother

Fri, May 27 2011, 6:03 am

amother wrote:

Our monthly gross pay combined is $5,504. We have one baby.
Isn’t it sad that we both work and we barely get to put money aside. Our expenses are sky high. (Bklyn and all that)

woah are u serious? im not gonna judge but yes it is very sad that you make so much and don't get to put money aside. if we were making that much with one baby, we'd be very comfortable....

New amother here...

It totally depends on where you live. The cost of living varies tremendously. It would be challenging for three people to live here on what the previous amother is making. I'm in NJ, not Brooklyn. And I'm not talking about luxuries of any kind - really just survival.

Tamiri

Fri, May 27 2011, 6:28 am

self-actualization wrote:

You'll have something to do next time you see her

freidasima

Fri, May 27 2011, 6:43 am

There's another issue involved.

It's not only how much your family income is but also how you budget and allocate your funds. I was thinking about this thread when I was at the local pharmacy and realized that between my husband and myself we spend over - now hold your chairs - NIS 2000 a month out of pocket on medications and supplements! And that is with all meds coming through kupat cholim and getting the normal discount for them. But some are expensive meds and supplements like good probiotics are out of sight. Sometimes we ask my in laws to send us multivitamins and things like that which cost a quarter of the Israeli price. But even with that...NIS 2000 a month for two people.

There are also fixed expenses that you can't play with. The basic fees for a telephone, and for a gas line for example. Arnona. Medications, at least here in EY. School payments for kindergarten or for grade school. And they all add up but you can't do anything about it. What are you going to do, not send your kid to gan chova when they are five? I understand not sending to nursery school to save money but K-1? That's rare. And even though it's supposed to be "free" there are always fees.

What is a total luxury for one is a necessity for someone else to keep their marriage intact or their sanity intact. We don't go out to eat, Even though almost every woman I know in what is the equivalent of my position has a full time housekeeper, often live in if they have room, and I don't even having cleaning help, not once a week, not once a month, not once a year. I paint my own walls and make much of my own clothes. But with the money I save we don't have to think twice about buying organic fruits and veg, chicken and the like. I can buy brand name cleaning products if I want to and I can use the a/c whenever I feel like. That's my priorities. Someone else won't want organic, will clean everything with inexpensive economica and doesn't even have an a/c but they like to go out to eat twice a week, use prepared foods and disposables, and have a cleaning women every week.

Some people if they don't save have anxiety attacks. Others count on inheritence and never save a penny. A third group has some money put away from past savings but today prefers to use income on nice things for their daily life.

If you have the money for it, great.

The problems only begin when people don't earn enough to cover their lifestyle. And then it doesn't make a difference here in EY if you are earning a take home pay of NIS 7,000 a month or NIS 37,000 a month!

amother

Fri, May 27 2011, 7:36 am

amother wrote:

Our monthly gross pay combined is $5,504. We have one baby.
Isn’t it sad that we both work and we barely get to put money aside. Our expenses are sky high. (Bklyn and all that)

woah are u serious? im not gonna judge but yes it is very sad that you make so much and don't get to put money aside. if we were making that much with one baby, we'd be very comfortable....

Pervious amother here:

1. taxes take away a nice chunk (an understatement)
2. babysitters in Boro park charge $5/hr
3. food prices are outrageous
4. rent in Brooklyn is sky high

We B”h don’t have to think twice before buying anything. We’re comfortable enough that we cover the bills without a single worry.

It is just that if we want to buy an apartment (note: I did not say a house) in Boro Park, we need to save an exorbitant amount of money.

I can’t complain. We B”h do have like a nice amount of money saved up, but it’s mainly from my single years and from our wedding money.

BusyBeeMommy

Fri, May 27 2011, 9:45 am

amother wrote:

Our monthly gross pay combined is $5,504. We have one baby.
Isn’t it sad that we both work and we barely get to put money aside. Our expenses are sky high. (Bklyn and all that)

woah are u serious? im not gonna judge but yes it is very sad that you make so much and don't get to put money aside. if we were making that much with one baby, we'd be very comfortable....

Do you realize that living in Brooklyn, you get about 25% of your income taken away from you for taxes? And that the average 2 bedroom (ugly) apartment costs $1600 to rent? Add car and health insurance to the bill and you're barely left with anything at the end of the month. I totally understand the original amother.

amother

Fri, May 27 2011, 1:13 pm

amother wrote:

Our monthly gross pay combined is $5,504. We have one baby.
Isn’t it sad that we both work and we barely get to put money aside. Our expenses are sky high. (Bklyn and all that)

woah are u serious? im not gonna judge but yes it is very sad that you make so much and don't get to put money aside. if we were making that much with one baby, we'd be very comfortable....

I'm the amother who said the bolded statement above. Yes I know taxes take away a nice chunk but I thought you were posting your "after tax income", that was my mistake. But even still while $5 per hour babysitting is not cheap, its about the cheapest you are gonna get. We live in Monsey and its the same price here, when I tell friends from wealthier communities that babysitters only charge $5 an hour, their eyes practically fall out of their heads lol, but I know that doesn't necessarily make it easier, but just saying... And also we used to live in Brooklyn and I don't know where you shop for food but I found Brklyn to have the cheapest prices on food (if you know where to go) cuz of all the competition. Start shopping in the "kollel" type stores and you will pay far less for food then anywhere else practically in the country (kosher food wise). Oh and lastly, rent is high, that is true, I can't deny that...

amother

Fri, May 27 2011, 2:19 pm

We earn $250K, pre tax. We are in the highest tax bracket. We pay full tuition for multiple kids and once you factor that in plus maaser money plus mortgage and car payments (and we live in a very average even slightly rundown house house with an average minivan) well there's not tons left. I don't have regular babysitting or cleanng help or anything. At that income you just pay more for everything. There are no breaks. We can't afford a trip to Israel or Pesach in a hotel unless we don't want to contribute to retirement that year.

I still shop at Old Navy. Smile

amother

Fri, May 27 2011, 3:40 pm

amother wrote:

Let me guess you live in NY right? Its sooo nuts these how for a frum family, you an earn tons of money (what in normal America would be considered rich) and still barely make ends meet...after kosher food, shabbos, yom tov, tuition, simchas, cars, mortgage...oy I dont get it