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Sample Budget for 4-6 people

 
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amother




OP


Post  Sun, Sep 22 2019, 12:13 am
I'm wondering if people here with a combined earnings of 60k or less for a family of 4-6 would be willing to post what their budget looks like and if they own a house.
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mirror




 
 
 


Post  Sun, Sep 22 2019, 6:08 am
In Philadelphia Pennsylvania you can buy your dream home for $200,000.
By the way, the Yeshivos in Philadelphia give big tuition discounts to those who qualify. In Cincinatti, Ohio and Cleveland, Ohio you can get free tuition if you qualify and housing is cheap there.
In New York, you'll be lucky if you can pay tuition on that kind of salary.
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Rappel




 
 
 


Post  Sun, Sep 22 2019, 6:28 am
There have been a few threads like this, with wildly varied results. You'll probably get a better ballpark if you narrow your field a little bit. Where in the US are you located?
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DrMom




 
 
 


Post  Sun, Sep 22 2019, 7:10 am
Location makes a huge difference, esp in housing prices.

Also, how many of these 4-6 people are working? What are their salaries?
How many of these 4-6 people are going to a school that requires tuition?
Do any of these 4-6 people require babysitting? Will any of the other 4-6 people be providing this service, o do you need to pay for childcare?
Do any of the working people need a car to commute to work?
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amother




Green


Post  Sun, Sep 22 2019, 7:31 am
Well I can give you our budget roughly. Family of 6.

1130 mortgage
200 health/dental/vision insurance
1500 tuition (as someone living oot tuition basically goes up with your income)
600 student loans
1000 food (spread over year, sometimes more some times less with yt)
200 clothes (spread over year)
225 gas/electric/water
600 carpayment/insurance/gas/a car and van
500 household/cleaning supplies/miscellanious
500 401k
Income 130k wtvr left over is savings
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amother




Dodgerblue


Post  Sun, Sep 22 2019, 9:23 am
Living in nyc, family of 4.

$1600 rent
$200 storage
$500 car
$200 cell phones
$200 gas
$1000 tuition
$900 food
$200 takeout / coffee
$200 date night
$100 babysitters
$200 utilities
$100 ez pass
$100 parking
$2-300 miscellaneous (extra expenses)
$100 tzedakah
$150 savings (this fluctuates dependingon the month but min. 150 every month)
$200 cleaning lady.

Our income also fluctuates sometimes $40-70K.
This is also a rounded vision of our budget - it changes monthly and there’s a bunch of things I have for sure forgotten to add.
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amother




Slateblue


Post  Sun, Sep 22 2019, 9:47 am
Live in ny

3 kids

Food 900
Rent 2000
Utilities phones 500
Tuition 1500
Cars, insurance, tolls, with 1 lease 1000

80k a year
We barely get by
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amother




OP


Post  Sun, Sep 22 2019, 11:47 am
DrMom wrote:
Location makes a huge difference, esp in housing prices.

Also, how many of these 4-6 people are working? What are their salaries?
How many of these 4-6 people are going to a school that requires tuition?
Do any of these 4-6 people require babysitting? Will any of the other 4-6 people be providing this service, o do you need to pay for childcare?
Do any of the working people need a car to commute to work?


We're in Lakewood. 2 kids. I just took a very part time job that adds 1k a month. Any more than that and I would need tons more babysitting and a second car and probably wouldn't be able to be as frugal. Right now we're making it with zero savings so I'm wondering if there's any way we'll ever be able to buy. Also our rent is so low I'm not sure if we could pay a mortgage even if we could somehow find a down payment. My husband works 9-5 with 2 side hustles that haven't yet taken off. Our hope is that something will start bringing in more money soon but if not we'll be stuck.

Right now it's
950 rent (including utilities)
800 food (we eat very healthy so lots of produce and protein but I'm really good with finding good deals for food)
400 maaser
450 car (payments, insurance, gas, tolls for 1 car)
300 health insurance
70 life insurance
100 phones
100 cleaning help
200 debt (unfortunately)
250 playgroup (my toddler goes out very short hours and my baby comes with me to work)
100 overhead for side hustles
600 for miscellaneous (diapers, toiletries, clothing, copays/deductible, mikvah, car maintenance/repairs, very rare dates etc, 600 is not enough but it really has to be right now)
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