What is considered an average salary?

amother

Chocolate

Thu, Nov 19 2020, 1:56 pm

amother [ Bisque ] wrote:

Whoops. But how much do you pay per kid? How many kids do you have? I guess my family sends to cheaper schools.

I was under the impression that babysitting and playgroup is 3-4k a year by you. Here its 7-11k. You can only get scholarships in Elementary school and even thats not easy. (Ex. Baby 10k, 2 yr old 9k, 4 yr old, 3k, 6 yr 11k, 8 yr old 11k)

They're probably all younger than me. I have kids of all ages, some elementary, some high school, some above.

Many schools are around 6 - 8 K here, so it's pretty close.

Crust is right, at the time you are up to having older kids/marrying off, this is the figure you need.

amother

Firebrick

Thu, Nov 19 2020, 1:58 pm

amother [ Chocolate ] wrote:

Because your numbers are off. There is nowhere to rent a house today in Lakewood for $1500 a month (that would be a basement or a tiny Conventry house).

I live in Lakewood and my tuition last year was well over 60K, so I'm not sure where you got the number 25K from. Also, they do give scholarships in Queens.

Also Chassidishe schools have much lower tuition.

Ok so how’s this. I live in Lakewood. Mortgage, including taxes, is less than 3k a month for a nice 4 bedroom house. So I pay about 1k less than that poster pays in rent and I have a bigger house. My tuition is about 5-6 k for my elementary school child. I send my high schooler out of town so tuition is much more, but most people stay in Lakewood for half the price. How many kids do you have that you’re paying that much tuition in Lakewood?

Lakewood is so much cheaper overall than other places in the tri state area.. not sure how anyone can compare. For a family of 4, you do not need 250k in Lakewood. Unless you mean 4 kids which is a family of 6, and even then you don’t need that much. Maybe once you’re making weddings. But if you own a home you can take out equity on that if needed, which many people do.

amother

Chocolate

Thu, Nov 19 2020, 1:58 pm

small bean wrote:

I have 8 kids, live in Lakewood. I live on less than 250k (not much and I put away money) and live comfortably. No debt (other than mortgages) and no financial stress. Bli ayin hora.

There is something called a standard of living and that matters. Also how much services do you do on your own and how much do you pay for. There are a lot of factors. I eould not say it's just tuituon, rent and food. There is so much else going on.

Give it a few more years. I'm waiting.

small bean

Thu, Nov 19 2020, 1:59 pm

Just fyi my mortgage on a 7 bedroom house is 1600mo and my tutiotn is between 5 & 6 a kid. Not counting the youngest who's a baby, but when he starts my oldest will be out of school. (Which older kids have sifferent expenses, college, weddings etc which should not be coming out of daily living expenses)

gold21

Thu, Nov 19 2020, 1:59 pm

amother [ Amber ] wrote:

maybe this should be a spin off but if 250 is needed then what does everyone who doesn't make that do? Do most people in Brooklyn make that?

I often wonder- what percentage of the frum community ideally SHOULD be on tzedakah? I understand that there will always be poor people but I think most people would agree that if 95 percent need to depend on charity or be in massive debt there's a problem. so where is that line?

There's a silent majority of frum people who agree with you and feel our system & lifestyle is tremendously problematic, unhealthy, unsustainable, unfair, and unaffordable.

Nobody addresses our concerns or does anything to change things for the better. It's kinda like we are the MAGA movement, jewish style. Call it the MJGA movement. There' a silent majority who feel this way, but nothing is being done to change things.

doodlesmom

Thu, Nov 19 2020, 2:00 pm

small bean wrote:

Do you give maser?
Do you have life insurance?
Savings for a rainy day?
Savings for marrying off and retiring?

You Don’t need to answer....just making you aware that if not, then you’re not that comfortable yet.

amother

Chocolate

Thu, Nov 19 2020, 2:00 pm

amother [ Firebrick ] wrote:

Why are we discussing 4 kids? Let's say I have an average sized Lakewood family (and you know very well that's not four).

I do think you need 200k in Lakewood, not 250k. So whoopee, that's so cheap....

gold21

Thu, Nov 19 2020, 2:01 pm

small bean wrote:

And you've never had parental help?

amother

Copper

Thu, Nov 19 2020, 2:03 pm

crust wrote:

Yes, this.
I think people just want to dig their heads in the sand but this is the reality.

I'm not saying that I make 250k definitely not 500k but thats the amount you need.

I have 5 kids and live in the tri state area. We bring in 70k and fall short by approximately 15-20k a year so I don’t think you need 250k to make it. I don’t want people to get disheartened by such high numbers.

amother

Firebrick

Thu, Nov 19 2020, 2:04 pm

amother [ Chocolate ] wrote:

No need for the snarkiness. I was referring to crust’s post where she specifically wrote you need 250k for a family of 4.

gold21

Thu, Nov 19 2020, 2:05 pm

small bean wrote:

Nope.

I've gotten gifts but not including that.

So you paid the down payment on your house by yourself. You have 8 kids, you work full time, but your life isn't stressful at all. Cool. Glad to hear it.

amother

Vermilion

Thu, Nov 19 2020, 2:08 pm

Why do some people on this thread appear to be so defensive about their finances and spending?
If I’m making less than 250k and it works for my family, why does that automatically mean that I’m being dishonest or unrealistic in some way?
I don’t begrudge you a larger income.
Please don’t jump to (incorrect) conclusions about me or others in the same financial bracket.

small bean

Thu, Nov 19 2020, 2:09 pm

doodlesmom wrote:

Masser I do
Life insurance I have
I have diversified investments for marrying them off plus 6 months in a savings account.

small bean

Thu, Nov 19 2020, 2:11 pm

gold21 wrote:

So you paid the down payment on your house by yourself. You have 8 kids, you work full time, but your life isn't stressful at all. Cool. Glad to hear it.

I didn't say my life is stress free. I said we don't have financial stress.

I bought my first home when I had one kid, With 15k down. I slowly built up.

I don't work full time. I didn't say that I do.

gold21

Thu, Nov 19 2020, 2:36 pm

small bean wrote:

OK. Since you've mentioned that your husband is a hobby farmer, I assumed that you must be the primary breadwinner since he has the time to hobby-farm (a time consuming hobby). I'm happy to hear that you don't work full time. B"H. Working full time with a large family size is not easy. Anyway, enough asking you for personal info. You don't have to respond to the continued questions. Back to the thread at hand-

It sounds like Lakewood is more affordable and requires less total income.

cnc

Thu, Nov 19 2020, 2:43 pm

gold21 wrote:

I think that’s too broad of a statement- my relatives all live in Lakewood. Their housing is much cheaper than mine but their tuition is much more expensive .

amother

Firebrick

Thu, Nov 19 2020, 2:57 pm

cnc wrote:

I think that’s too broad of a statement- my relatives all live in Lakewood. Their housing is much cheaper than mine but their tuition is much more expensive .

Tuition in Lakewood is on average 5-6k for elementary. Some are more. All my friends and relatives outside of Lakewood pay around double. Where is it cheaper?

doodlesmom

Thu, Nov 19 2020, 3:02 pm

small bean wrote:

Masser I do
Life insurance I have
I have diversified investments for marrying them off plus 6 months in a savings account.

I’m impressed, maybe I need some spending lessons from you!

Off hand
2 k+ maser min
1k+ life ins
2k+savings
3 k mortgage
1 k utilities
1 k+ insurance
2 k tuition
1k cleaning help
1k car+ins+gas and toll
3k+ grocery and houseware
1k+vacation,summer,camp
1k cash on hand, gifts, etc.

No money spent yet on, tutoring, clothing, furniture, self care, sheitel, you name it....

Last edited by doodlesmom on Thu, Nov 19 2020, 3:14 pm; edited 1 time in total