How much for a family of three per month?

Mayflower

Thu, Nov 08 2018, 8:34 am

When you compare European and US financial needs, it's really comparing apples and oranges. Healthcare is extremely cheap in Europe, and tuition, day care etc. is much lower. Wages are also much lower. People in Europe tend to have less money to spend but at the same time need much less, making it possible to have a good quality of life with much less resources.

That said I think 760 EUR rent / month including all expenses is very cheap even for Europe.

amother

Black

Thu, Nov 08 2018, 10:28 am

Im in Lakewood, so housing, childcare and even food is cheaper. This is for 2 adults, one toddler.

Rent $900 (3 bdrm, 1.5 bathroom)
Utilities $100
Childcare, aftercare $350
Insurance $200 (employer subsidizes insurance)
Car insurance $200 (2 cars)
Food, household, toiletries
($150 a week of groceries approx, plus $200 every 3 months approx for walmart stock ups.)

Clothing I get a lot of hand me downs, and supplement with children's place and carters.
Clothing for myself is more, I try to find department store bargains when I can.

Food: you can get chicken cutlets and chopped meat for $3.99 a pound. Chicken bottoms $1.99 a pound. I only buy on sale and stock my freezer.

amother

Powderblue

Thu, Nov 08 2018, 10:39 am

amother wrote:

Tuition- $3,000
Mortgage, taxes- $6,000
Health insurance- $2,000

That’s $11,000 right there.

You must make nice to b able to afford these numbers.
I have three kids also. Mortgage including taxes and insurance is 3300 ( minus 1800 when I get a tenant. Mine nsut moved out)
I am on libety healthshare so I pay like 350 or so and my kids are on child health plus which is 90.
Tuition is 2000 a month about.

Mommyg8

Thu, Nov 08 2018, 10:57 am

Charles Dickens in "David Copperfield":

"Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery."

There are no real rules for how YOU should manage your finances except the quote above. Keep your spending under your income and you'll be good. If you spend more than your income ... you start a debt cycle which is almost impossible to get out of.

Many people try to do better than that and save some of their money, and that is ideal, but whatever you do, don't go into debt.

How to do this?

Write down everything you spent money on in the past few months. Look at what you bought - can you buy something cheaper? Do you need it? Can it wait until the next month? It's important to do this every so often - it's sort of like a physical for finances.

If you would like to put away money every month, then you will have to be more frugal. That would probably mean buying cheaper clothing, or even wearing hand me downs, making food as opposed to buying, less cleaning help, cheaper rent, etc. etc. But some people would rather live better day to day and put away less money (or no money at all) - there is nothing wrong with doing that if you are doing this with your eyes open. It's a matter of making a conscious decision - do I want to live the thrifty lifestyle or do I want to live better in my day to day?

But whatever you do, and whichever way you decide to go, never spend more than you earn. That's the golden rule of finances.

amother

Peach

Thu, Nov 08 2018, 11:12 am

amother wrote:

Wow!

The the rest 9,000 is other expenses such advice food clothing and household?

$2000-savings
$1500-food
$1800- gym (I know that’s a lot but it’s very important to me for health reasons.)
$600- cleaning help
$600-therapy
$600-tutors
$500- car insurance

Then there is clothing, household products, gifts, extra curricular, babysitters, takeout/restaurant, toys, school supplies, household repairs, gas....

There is also stuff like doctors, dentists, Yom tov expenses, vacations, outings....

The list goes on and on.

There is always things to buy.

Believe it or not, I need to budget carefully.

amother

Chocolate

Thu, Nov 08 2018, 11:55 am

amother wrote:

Im in Lakewood, so housing, childcare and even food is cheaper. This is for 2 adults, one toddler.

Rent $900 (3 bdrm, 1.5 bathroom)
Childcare, aftercare $350
Insurance $200 (employer subsidizes insurance)
Car insurance $200 (2 cars)
Food, household, toiletries $375 a month
($150 a week of groceries approx, plus $200 every 3 months approx for walmart stock ups.)

Clothing I get a lot of hand me downs, and supplement with children's place and carters.
Clothing for myself is more, I try to find department store bargains when I can.

Food: you can get chicken cutlets and chopped meat for $3.99 a pound. Chicken bottoms $1.99 a pound. I only buy on sale and stock my freezer.

Op here-

I’m in Lakewood as well. Where do you live that your tent is $900 including utilities for a three BR? I live in a 2 BR and pay $1000.

My car insurance for two cars is $400 plus $200 lease. (This is the cheapest rate for us, can’t get a power policy elsewhere for various reasons....)

How can you total be $375 if you spend $150 a week on groceries? It should be at least $600... (same as mine btw)

I get some hand me downs for my child and for myself I shop online and on sale. I’m into clothing, no carters for me expect for pj’s... Sad

Please tell me where you chop meat is $3.99 a pound.... (I need a certain hechsher so yes meat is more expensive for me Sad

)
And chicken cutlets- we don’t eat regular chicken. What about fish- salmon is so expensive!

What are you total expenses a month?

Thanks!

amother

Chocolate

Thu, Nov 08 2018, 12:12 pm

amother wrote:

Wow. At least your able to afford to put away.
Gym- you must be spending in a personal trainer, because my membership is $40/ month.
My son might need PT now and I’ll be paying out of pocket..,

amother

Black

Thu, Nov 08 2018, 12:19 pm

amother wrote:

Please tell me where you chop meat is $3.99 a pound.... (I need a certain hechsher so yes meat is more expensive for me Sad

)
And chicken cutlets- we don’t eat regular chicken. What about fish- salmon is so expensive!

What are you total expenses a month?

Thanks!

Ok, youre right!
Im doing the calculations for the first time as I type and I totally messed up 🙈
I should go back and edit.

I forgot about utilities, it averages another $100 a month. I live down the 9, the bedrooms are small and the living room is tiny.

Car insurance varies per person, we got a good deal bH with an agent. We bought used cars, bli ayin hara no terrible maintenance needed so far.

Evergreen has the meat at that price very very infrequently. Seasons is selling it at that price currently.

Messed up completely with food... youre right!

amother

Peach

Thu, Nov 08 2018, 12:28 pm

amother wrote:

Wow. At least your able to afford to put away.
Gym- you must be spending in a personal trainer, because my membership is $40/ month.
My son might need PT now and I’ll be paying out of pocket..,

I do pay for a personal trainer. And one of my kids needs Pt as well, and that’s part of my gym expenses. My son goes to a personal trainer at the gym who does exercises with him to strengthen him.

groovy1224

Thu, Nov 08 2018, 12:31 pm

amother wrote:

Listen, you do you, no hate but it really 'amazes you' how people make it work with smaller numbers than this?

If you have a 6K mortgage, I'm assuming you own a large home.
$1500 in food plus takeout is..a lotta food?
I've never even heard of $1800 monthly gym membership.
Plus you are able to save.

Again, I'm not bashing you for your numbers, but do you really feel like you're living with the bare minimum?

amother

Taupe

Thu, Nov 08 2018, 12:32 pm

amother wrote:

That is a LOT for food. I have the same family size and spend less than half of that, and I'm not the most careful spender when it comes to food. What are you buying??

OP and others in Lakewood, prices at NPGS are almost always cheaper than everywhere else. (I tend to shop in other stores just because of the Pride of the Farm milk, but when I was watching my spending more carefully I always shopped at NPGS.)

mom!

Thu, Nov 08 2018, 12:38 pm

amother wrote:

I'm in Lakewood too, pay a lot more for childcare and car insurance! Do you send to a CHS daycare?

amother

Cyan

Thu, Nov 08 2018, 12:44 pm

We are a family of 5 and prob spend about 800-900$ on food. Plus 300$ every few months to stock up. I don't feel like that's a lot and we don't eat steaks every week at all. I like to have guests for shabbos and put a real dinner down every night. Money well spent. When we were poorer I did more tuna, eggs, sandwiches, macaroni, chicken dogs, and ground meat. Bh we can afford better and more variety now. Some posters seen to want to make you feel ashamed for spending money on food. Crazy

amother

Taupe

Thu, Nov 08 2018, 12:51 pm

amother wrote:

I also make a real dinner every night and beautiful Shabbos meals. I don't skimp. Honestly wondering what a family of 5 eats that costs $1500 a month (not including takeout or restaurants)! I don't think I even spent that much on Yom Tov food this year, and we had guests and nice meals.

amother

Peach

Thu, Nov 08 2018, 12:53 pm

amother wrote:

You spend less the $750 a month on food for a family of 5??

What to do you eat?

As for me, we eat chicken or meat for dinner every night. Fruit and vegetables. Cereal and yogurt for breakfast. I probably spend $30-$50 on takeout every week as well.