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Forum
-> Household Management
-> Finances
Around how much do you make
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| Under 100k |
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49% |
[ 76 ] |
| 100-200k |
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37% |
[ 57 ] |
| 200-300k |
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13% |
[ 20 ] |
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| Total Votes : 153 |
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amother
OP
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 Wed, Jun 08 2022, 8:29 am
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Does it make sense my husband makes $115 a year before taxes and we are not surviving? We have 2 kids and live in Lakewood
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amother
Daphne
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Wed, Jun 08 2022, 8:31 am
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It depends what your expenses are.
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amother
Obsidian
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Wed, Jun 08 2022, 8:32 am
Pre tax I’m assuming? Unfortunately in today’s world that’s not enough.
ETA sorry I see you did write before taxes. How much does he actually take home?
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amother
Emerald
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Wed, Jun 08 2022, 8:46 am
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In todays world it makes sense. We are $130 with 3 kids and are barely surviving. Inflation is hurting us all and no one is getting raises to match the new prices.
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amother
Zinnia
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Wed, Jun 08 2022, 9:02 am
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We are making 102k combined with 2 kids are surviving just fine. We don't have money for extras but I wouldn't say we aren't surviving. Childcare is our biggest expense, but we don't own a home yet - with a mortgage would be tighter.
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amother
OP
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Wed, Jun 08 2022, 9:06 am
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I think he takes home around 80 and we pay Maaser so then we are left with 72
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amother
OP
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Wed, Jun 08 2022, 9:11 am
| amother [ Zinnia ] wrote: | | We are making 102k combined with 2 kids are surviving just fine. We don't have money for extras but I wouldn't say we aren't surviving. Childcare is our biggest expense, but we don't own a home yet - with a mortgage would be tighter. |
How are you surviving?
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amother
Zinnia
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Wed, Jun 08 2022, 9:28 am
| amother [ OP ] wrote: | | How are you surviving? |
We bring home around 6k per month (Dental insurance, 401k and some childcare comes off paycheck before this)
Kids are on Jersey Care and I am on my parents insurance
Rent + Childcare + Utilities is around 3k
Groceries, Misc. Items, Household Items, Car, Health and Life Insurance, Maaser the other 3k
Whatever is left goes to savings (about $500 per month)
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amother
Zinnia
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Wed, Jun 08 2022, 9:30 am
| amother [ OP ] wrote: | | I think he takes home around 80 and we pay Maaser so then we are left with 72 |
Is there a reason why you can't work?
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amother
Dustypink
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Wed, Jun 08 2022, 9:30 am
What are the rest of your expenses?
How much is your tuition?
How much is your mortgage and rent?
How much are your car expenses?
What are your costs for health insurance and are there any expensive chronic medical conditions that require treatments or expensive prescriptions or do you have to pay for some kind of therapy?
Those are your major expenses - deduct the annual cost from the $72,000
What is left needs to cover everything else including food, clothing, savings for retirement and emergency.
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amother
Firebrick
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Wed, Jun 08 2022, 9:38 am
If it makes you feel better, we're living on 18k a year 
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amother
Mintgreen
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Wed, Jun 08 2022, 9:42 am
| amother [ Firebrick ] wrote: | | If it makes you feel better, we're living on 18k a year |
Is your rent $700 a month? Do you pay for food? Childcare expenses? Any bills?
If 18k is your only source of income I'd love to see a breakdown of it!
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amother
Sage
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Wed, Jun 08 2022, 9:46 am
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We make $111 together. We are NOT managing. 4 kids tuition, plus mortgage over $2000, and we live very frugally. It's really starting to get to me.
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amother
Arcticblue
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Wed, Jun 08 2022, 9:46 am
Do you have a list of your expense's?
You might know what is coming in, do you know what is going out?
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amother
Nasturtium
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Wed, Jun 08 2022, 9:50 am
| amother [ Firebrick ] wrote: | | If it makes you feel better, we're living on 18k a year |
Are you really living on 18k a year or are you getting help for:
health insurance? Add 20k a year
Food stamps? Easily 8k a year
Section 8? 25k a year
The list goes on...
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amother
Arcticblue
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Wed, Jun 08 2022, 9:53 am
| amother [ Firebrick ] wrote: | | If it makes you feel better, we're living on 18k a year |
In Lakewood?
Or another country?
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amother
OP
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Wed, Jun 08 2022, 10:10 am
| amother [ Dustypink ] wrote: | What are the rest of your expenses?
How much is your tuition?
How much is your mortgage and rent?
How much are your car expenses?
What are your costs for health insurance and are there any expensive chronic medical conditions that require treatments or expensive prescriptions or do you have to pay for some kind of therapy?
Those are your major expenses - deduct the annual cost from the $72,000
What is left needs to cover everything else including food, clothing, savings for retirement and emergency. |
My oldest is 3 so I’m paying $600for day camp and then $400 for play group ( my baby will be joining a group soon) for $600 a month
Rent is 1,500 plus utilities
Electricity $175
Heat/ gas $75
Water $80
We own one car are second car is around $300
Car insurance $219
Gas is around $150
Internet $50
We have private insurance from my husbands work they take it off is salary (idk how much)
I have therapy for one of my kids $640 a month
Cleaning lady $320 a month
We have life insurance but no retirement plan
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amother
Razzmatazz
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Wed, Jun 08 2022, 10:12 am
You’re spending above your means.
You need to do cheshbon hanefesh on what your expenses are and where you can cut.
Do what I do every month- keep track of every penny you spend (I do almost everything on cc and pay in full every month) and then go back and put it in a spreadsheet by category and see how much you really spent.
Clothing? Shoes? Takeout? Any deductible or copays for medical that you’re paying?
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amother
Mintgreen
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Wed, Jun 08 2022, 10:15 am
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amother
Dustypink
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Wed, Jun 08 2022, 10:16 am
| amother [ OP ] wrote: | My oldest is 3 so I’m paying $600for day camp and then $400 for play group ( my baby will be joining a group soon) for $600 a month
Rent is 1,500 plus utilities
Electricity $175
Heat/ gas $75
Water $80
We own one car are second car is around $300
Car insurance $219
Gas is around $150
Internet $50
We have private insurance from my husbands work they take it off is salary (idk how much)
I have therapy for one of my kids $640 a month
Cleaning lady $320 a month
We have life insurance but no retirement plan |
Those expenses total $50,258 and so you only have approximately $22,000 for all your other expenses
What about home insurance?
Food
Clothing
Toiletries
Household expenditures/supplies
Home maintenance and repair
Furniture
Gifts
Medical Deductibles and co-payments
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