Annual income and does it cover

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View latest: 24h 48h 72h

How much is your income annually?

75-100k

23%

[ 65 ]

100-125k

14%

[ 39 ]

125-150

11%

[ 33 ]

150-175k

10%

[ 28 ]

175-200k

[ 21 ]

200+

33%

[ 92 ]

Total Votes : 278

amother

Ruby

Thu, Jan 04 2024, 9:15 am

amother Aqua wrote:

Woah everyone got really excited about me not paying taxes. I guess I was posting too late at night, I do not take home 6k, I take home 4,600. Sorry, brain fart.

I pay very cheap rent, live in a small basement apartment.

That makes much more sense…

Admittedly you started it by wondering why I was taking home so little…

amother

Lavender

Thu, Jan 04 2024, 9:21 am

amother Lime wrote:

We live in Manhattan and make about 220k combined. We pay 4k for housing and 3k for childcare for one kid (lol Crying

). Things are pretty good: we can go out to restaurants every so often, take a vacation, but definitely need to be thoughtful and methodical about spending. Right now things are fine but eventually we will need to buy a bigger place (currently in a cozy two bedroom apartment) and pay childcare/tuition for more than one kid. Hopefully between our salaries going up and mortgage rates going down, we'll continue to hold steady.

Oh wow 3k per month for one kid is a lot.

amother

Latte

Thu, Jan 04 2024, 9:23 am

amother Orchid wrote:

Do you live in NJ? Or you’re just saying it as an FYI.
Also would you share what you do?

Yes.
I'm a sahm mom (now, wasn't always)
Husband owns a business in Healthcare.

amother

Latte

Thu, Jan 04 2024, 9:26 am

amother Navy wrote:

800 is pre or post tax?

We live similarly bh . 3 kids.

But housing is a killer. We just bought a house ( that I consider very small- 2,000sq feet in a suburban area) and paid close to a million. Our monthly mortgage is 7k.

The house is far out from the community and not in great condition etc.

I have friends that bought a few years ago in the 500s, fresher nicer larger homes.

I’m bh super grateful we can swing this but I think it just shows that the math isn’t as straight forward as how much you make. someone who makes significantly less but bought earlier can be living a lot nicer than us.

Pre tax.
We take off the maximum tax every month and then we get a refund at the end of the year towards a little bit of it so I'm not really sure exactly what our final net is, EOY, but I know what our monthly net paycheck income is.

amother

Babyblue

Thu, Jan 04 2024, 9:29 am

amother Eggplant wrote:

Did you read the double take in Mishpacha last week? Please, please make it an absolute priority to buy something. Even if it’s on the outskirts and even if you just buy it to rent out because you don’t necessarily want to live on the outskirts, and cover the mortgage that way. Even if it’s in a totally different area and 100% an investment property. It is extremely hard to find yourself in a position where you go from essentially zero housing cost to suddenly needing to buy or rent a house when you are at the stage of marrying off kids with zero assets other than a few thousand in a retirement account! Unless this is one of your parents’ house and you/DH are an only child so there is absolutely no doubt that this house will eventually be yours with no splitting or sharing inheritance etc. If that’s the case feel free to ignore my advice!

Yes I read the mishapacha last week and Bh the family member whose house we are living in has in their will that we have 2 or 3 years to decide what we want to do after they pass like buy the house out or move I was so greatful that my family member had the insight to put that clause in especially after reading the double take I would consider buying something soon as we do have some savings just waiting for interest rates to drop and for a bit more savings to build up as I don’t want to be pressed for money after the purchase things always come up and a cushion is always helpful. Thank you for the response and for pointing out this vital aspect of anyone living in this type of situation I felt really bad for the dtr last week who had no time to get herself together before having to move!

amother

Lime

Thu, Jan 04 2024, 9:44 am

amother Lavender wrote:

Oh wow 3k per month for one kid is a lot.

Lol tell me about it. People don't believe me when I say this is literally the cheapest option in the neighborhood.

amother

Dodgerblue

Thu, Jan 04 2024, 10:00 am

we make about 75K hard to say exactly bec DH is in kollel and does odd jobs

have two little ones.

we are making it bH - I do think we are still in the honeymoon phase of life rn, we arent supported per se but our parents help out with random purchases and expenses so that is def a big deal.

I spend as little as possible on m kids clothes (ali, shien) and we cant really go on vacation and only go out to eat on our anniversary and birthdays - mainly bec we have two little ones so we cant do as we please if we wanted Smile

amother

Geranium

Thu, Jan 04 2024, 10:48 am

amother Silver wrote:

My my calculation if we made 500k a year we’d be rich in a few years 😂 we’d invest about 150-200k a year

That was also my thoughts and now we reached that point and we are not saving (ok prepaying mortgage a bit) expenses have gone up a lot. Maser alone is 50k, plus taxes in NY over 100k, and other expenses related to working, plus kids got bigger and more expensive. We haven’t upgraded our lifestyle or saved much.

AlwaysGrateful

Thu, Jan 04 2024, 11:09 am

I love this thread.

What I have learned from this thread:

95% of people these days feel that they need to watch how much they spend. They feel that they are being frugal or at least careful, even though obviously everyone's definition of "frugal" or "careful" is not the same.

Many people are struggling to make ends meet.

Even people who make a lot of money are not immune from being stressed about money.

Some people who make much less money and have a larger family seem more calm about their situation than some other people with somewhat more money and a smaller family.

And something I didn't learn, but that was strengthened by this thread: Money is a huge bracha from Hashem. Some people have more, some people have less. But many of us have less, and Hashem looks out for ALL of us in different ways. As long as we're not being irresponsible, Hashem has our back.

amother

DarkCyan

Thu, Jan 04 2024, 11:12 am

$180k
4 kids
Nope!

amother

DarkRed

Thu, Jan 04 2024, 11:23 am

Around 150k. 4 kids. BH we have all that we need and a lot of wants but we watch our spending carefully.

amother

Marigold

Thu, Jan 04 2024, 11:45 am

We make around 7,000 a month after taxes
1 child so far

So thankful to Hashem that we have enough to live without feeling deprived, and enough to give maaser and tzedaka! I'm not going to worry now how we will afford things in the future

amother

Antiquewhite

Thu, Jan 04 2024, 12:13 pm

amother OP wrote:

Curious how much people earn per year and if it covers them, see poll. Please include the amount of kids u have and if it covers all of your expenses

Why is there no option for under 75k??

amother

Copper

Thu, Jan 04 2024, 12:20 pm

200k+ is a huge range. But this is ima and ima skews young and poor.
Bh we make a lot more than that and can cover our expenses.

amother

Forestgreen

Thu, Jan 04 2024, 12:23 pm

About 130k a year, 4 kids. We live frugally. It's tight, but covers our expenses now. But next year it won't be enough because our tuition costs will increase by about 22k. So we'll have to ask for a tuition break for the first time ever.

amother

Hyssop

Thu, Jan 04 2024, 12:33 pm

We live in israel and make around 200k based on the exchange rate. We live nicely, we pay rent and mortgage on our apartment bought on paper. Our tuition is low, our health care costs are much lower than the USA. We save a nice sum every month in addition to our very good pension plans and work savings plan. It seems like those of us in israel live a lot nicer on these salaries.

amother

Celeste

Thu, Jan 04 2024, 12:49 pm

180k
4 kids
No it does not cover by far.
We live very very very simplely.
Our house is in DESPERATE need of remodeling. Structural and a face lift. But it's completely not in the card right now.

Thing is, We have children w hidden SN. (Adhd, asd, pans) and it's $$$$$$$$$$$$$$$$$$$$$

amother

Antiquewhite

Thu, Jan 04 2024, 1:10 pm

amother Antiquewhite wrote:

Why is there no option for under 75k??

???

amother

Peach

Thu, Jan 04 2024, 1:14 pm

We make about $63k a year. 7 kids. No, that's not a typo.

We are not in debt BH, nor do we get tzedaka as of now. We do get significant tuition reductions and are on Medicaid. We get minimal food stamps.

amother

Snowdrop

Thu, Jan 04 2024, 1:55 pm

$60-70k

7 kids kah

Managing with benefits. Keep things minimal.

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