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This is the cheapest house I can find for sale in my metro area. Look at the photos. It doesn't even look livable and it is in a terrible neighborhood. That's what $100K will get you in my world. I can't find anything for $50K.
And that might be $300k in SF - what's your point? If you choose to live in a higher cost area you should either receive more compensation or move.
Looking at your house in Denver, it appears that several others homes around there have sold for $80-125k.
Sorry when you do a monthly budget you certainly don't add in funds that don't exist. So aca rebates and other tax related credits you get back the following year don't help you on a monthly basis as the bills come due
So does that mean those things will help the next year? Seems like semantics to me.
For example:
year 1 - $26k take home
year 2 - $26k take home + $2k from year one = $28k
year 3 - $26k take home + $2k from year two = $28k
year 4 - $26k take home + $2k from year three = $28k
Her point is that your $50K house as an example for achievable housing isn't feasible for many people in many regions across the country. Is it that difficult to understand?
But isn't your point that everyone should be able to live on this budget? Everyone can't because everyone doesn't live in these low COL areas, and everyone can't move to one.
Technically everyone has the chance because nothing prevents one from moving to another state. Those that choose to live in more expensive areas should expect a wage in line with their cost of living. For example, I would not live on $10/hr in an area with homes that start at $400k. You'll never get ahead.
Her point is that your $50K house as an example for achievable housing isn't feasible for many people in many regions across the country. Is it that difficult to understand?
My point is that $100k isn't that bad if wages are in line with cost of living. Is that difficult to understand?
I didn't read through all of these posts, so sorry if I'm repeating something already stated. The USDA has a calculator that can be adjusted by the number and age of kids, parental income and area of the US that you live in. Expenditures on Children by Families, 2012
I was surprised to see that housing is one of the biggest costs, but it makes sense. Everyone of my friends has had to move to a bigger place after having children. Not because they want each child to have their own room, but because 4 or more people living in an apartment with a living room/dining room combination, small kitchen and one or 2 bedrooms can just be too tight.
I hear a lot people say that a child can be a financial burden as if it's common knowledge - but is that because they choose to make it that way? Parents get ~$4000 tax deduction/child tax credit/childcare credit which saves them thousands and offsets some of the monthly cost.
I would like to see a break down of child related expenses. I'm talking necessities - not private schools, designer clothing, buying a home in the most expensive neighborhood (because your kid NEEDS the best schools), $50k nannies, saving for an Ivy League college or buying obscene amounts of toys.
It seems that if one has a parent/aunt/stay at home mom friend to take care of childcare (years 0-4) - raising a child can be downright cheap (assuming no major health issues).
Am I missing something?
Funny. I never thought of raising my children in terms of money. Having children was something I always knew that I wanted to do.
Never consulted an accountant or a calculator.
No, it does not need to be "wildly expensive". There are extremes in parenting, in this regard. There are middle class families who go all out and spend everything they have on their children.
There are parents with exactly the same income who spend as little as they can.
Both extremes can border on abuse. I am talking EXTREMES here.
I sit firmly in the middle. I want the best for my children. But I am not going to create a false world full of elevated expectations. We are middle income and it is what it is.
This is the cheapest house I can find for sale in my metro area. Look at the photos. It doesn't even look livable and it is in a terrible neighborhood. That's what $100K will get you in my world. I can't find anything for $50K.
You didn't look hard enough! I found multiple properties under $100,000 in my metro area.
Parking spaces. Parking spaces here sell for more than Eddie's house.
Apparently. You are having real problems with the concept.
Would you be willing to give me an example?
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