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Budgeting for large families
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amother
Scarlet


 

Post Mon, Oct 29 2018, 11:50 am
amother wrote:
We aren't managing. Family of 11. We went through over 7 years in kollel fine, and without credit cards. Then managed for years afterwards. About 6 years ago my husband started doing this selling miles from credit cards, but we were still paying them off monthly. About 3 years ago, we started using them more and more without being able to pay them off each month. Then we had extensive house repairs. We have so much debt, it makes my head spin. We live frugally. We homeschool. I'm totally stressed. We have 2 children in shidduchim. Sigh


I totally hear you and feel for you! That is why I'm trying to figure out things here. It seems like so many people do things that I can't even think of---send to day camp, buy new outfits each yom tov for whole family....
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amother
Scarlet


 

Post Mon, Oct 29 2018, 8:27 pm
bump
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ectomorph




 
 
    
 

Post Mon, Oct 29 2018, 8:45 pm
I don't havr a large family but would like to. Right now I have several small children too young to meaningfully help and I get cleaning help. This takes a lot of what would be our savings but greatly increases my sanity and shalom bayos.

We never eat out. I make everything at home. Clothing is hand me down with the occasional target addition (for instance one child will dress themselves if wearing a red shirt so I got 3 red shirts from target.) I get20 dollar shoes at target.

I don't do manicure or stuff like that. I wear the same clothing all the time. My kids I dress cutely because I want people to look and not think I'm not managing.
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amother
Violet


 

Post Mon, Oct 29 2018, 9:39 pm
amother wrote:
Dh brings in an about $25,000 a month. We have three children.

What does he do?????


He’s in business.
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amother
Navy


 

Post Mon, Oct 29 2018, 10:32 pm
We live on around $5500-$6,000 month. We have 3 kids, not New York

Of this
$3,000 is housing
$1,100 is food. I cook everything from scratch.
$63 is car insurance (old car)
$200 is gas
$150 health insurance, $200 or so is uncovered medical expenses
$580 or so is utilities
The rest is educational stuff for the kids (we homeschool, largely for financial reasons), clothing, diapers, taxes, phone service, the unexpected, etc.
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giselle




 
 
    
 

Post Tue, Oct 30 2018, 12:17 am
amother wrote:
We live on around $5500-$6,000 month. We have 3 kids, not New York

Of this
$3,000 is housing
$1,100 is food. I cook everything from scratch.
$63 is car insurance (old car)
$200 is gas
$150 health insurance, $200 or so is uncovered medical expenses
$580 or so is utilities
The rest is educational stuff for the kids (we homeschool, largely for financial reasons), clothing, diapers, taxes, phone service, the unexpected, etc.


How is health insurance so low?
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amother
Sapphire


 

Post Tue, Oct 30 2018, 12:40 am
amother wrote:
Dh brings in an about $25,000 a month. We have three children.

What does he do?????


My dh makes the same BH, he’s a computer programmer.
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amother
Navy


 

Post Tue, Oct 30 2018, 12:46 am
giselle wrote:
How is health insurance so low?


Obama care.
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amother
Brown


 

Post Tue, Oct 30 2018, 9:42 am
We live in israel so it is diffrent here. Have seven kids, do not own a car or go on vacation or buy new furniture or eat out.
I do buy kids new clothing for yomtov and shoes when they need them.
Food is a large part of the budget and that is sere you can play around. buy items on sale, reuse things , like leftover chicken turns into stirfry.
As kids get oldef it is harder as they need things....
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amother
Aqua


 

Post Tue, Oct 30 2018, 12:49 pm
Israel, 4 children. We live very modestly. We make ends meet but just barely. Not saving nearly as much as I wish, but we do put a (very, very) little aside each month and have an emergency fund. No car. Kids go to public religious schools so education for my kids that are 3 and up is practically free (though daycare for my toddler is a lot). I buy clothes on sale for my oldest children and the rest wear their old hand me downs. We hardly ever buy processed/prepared food and we stick to a mostly vegetarian diet. Vacations once every few years, if that. No cleaning help, no babysitters. Groceries I shop around for good deals. It's not easy but we have all the basic necessities and we're not in debt (not counting the mortgage, though b"h we bought at a very good time and can easily afford the monthly payments).
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amother
Saddlebrown


 

Post Tue, Oct 30 2018, 12:53 pm
saphire amother- what type of hours does your husband have? Does he work for himself? how many years of experiance? My dh is a programmer and that's not a typical salary for a programmer?
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amother
Babypink


 

Post Tue, Oct 30 2018, 2:09 pm
I have 5 children so not a huge family, but here is my budget if it helps:

Monthly take home pay, after taxes, health insurance deduction (through employer), $500 a month that goes into a HSA account for all other medical expenses and 401k: $7,849. We both work full time.

All figures below are monthly:

Tuition: $4,227
Mortgage: $1,551
Utilities, including cell phones: approx. $400-$500
Insurance: $314
Tzedakah: we have 10% of our paycheck auto-deposited into a separate account, so approximately $700. Mainly used for shul, small checks to meshulachim, and certain school expenses like the annual dinner, but if we don't have enough $$ in a given month to pay tuition, we transfer from that account per the psak from our Rav
Food: Approx $800 (2 of my kids eat all meals in yeshiva and BH my parents come to us for Yom Tov and help pay for expenses)
Gas, clothing, household expenses, etc.: gets put on a credit card and then paid off with tax refund, bonuses, etc. Hashem works it out somehow!

I am waiting for the day when I no longer have tuition to pay. What will I possibly do with an extra $4,000 a month?!
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amother
Smokey


 

Post Tue, Oct 30 2018, 2:15 pm
amother wrote:
I have 5 children so not a huge family, but here is my budget if it helps:

Monthly take home pay, after taxes, health insurance deduction (through employer), $500 a month that goes into a HSA account for all other medical expenses and 401k: $7,849. We both work full time.

All figures below are monthly:

Tuition: $4,227
Mortgage: $1,551
Utilities, including cell phones: approx. $400-$500
Insurance: $314
Tzedakah: we have 10% of our paycheck auto-deposited into a separate account, so approximately $700. Mainly used for shul, small checks to meshulachim, and certain school expenses like the annual dinner, but if we don't have enough $$ in a given month to pay tuition, we transfer from that account per the psak from our Rav
Food: Approx $800 (2 of my kids eat all meals in yeshiva and BH my parents come to us for Yom Tov and help pay for expenses)
Gas, clothing, household expenses, etc.: gets put on a credit card and then paid off with tax refund, bonuses, etc. Hashem works it out somehow!

I am waiting for the day when I no longer have tuition to pay. What will I possibly do with an extra $4,000 a month?!

Why are the schools charging 50% of your income for tuition- that's too much. You shouldn't be paying full tuition.
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amother
Babypink


 

Post Tue, Oct 30 2018, 2:22 pm
I am not paying full tuition - the figure below is with a significant discount. The schools get a copy of my tax returns and based on that decide how much we should pay. It's not quite 50% since the income posted is net minus health insurance, etc., but I agree that it is way too much.
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