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Old 05-29-2015, 11:33 AM
 
2,594 posts, read 3,381,688 times
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Originally Posted by NYer23 View Post
cost of living can range widely on a neighborhood by neighborhood basis (even in the same borough). If you live in a gentrified area you are paying a premium on just about everything you spend money on. In addition, housing cost makes up the majority of the decision making process in selecting the neighborhood you end up living in. Renting a 3 bedroom apartment for a family of four can cost you the same as a mortgage payment for a house in the suburbs.
Very true. When I go into Manhattan or some parts of Brooklyn I'm surprised about how much food costs -- in restaurants, take out and in grocery stores. I don't believe in spending an enormous amount on rent. Generally I think it's better to buy if at all possible.
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Old 05-29-2015, 11:36 AM
 
Location: Dallas, TX
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Yodel, if your concern is tracking your expenditures. I highly recommend using an app called 'Mint', it links all your accounts, credit, debit and banking in one platform that allows you to create budgets based on categories such as 'Shopping' 'Food and dining' 'Travel, etc... If you're close to exceeding your budget, you'll get a notification. I find that's an easy way to track your clash flow.
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Old 05-29-2015, 11:48 AM
 
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Originally Posted by likeminas View Post
Yodel, if your concern is tracking your expenditures. I highly recommend using an app called 'Mint', it links all your accounts, credit, debit and banking in one platform that allows you to create budgets based on categories such as 'Shopping' 'Food and dining' 'Travel, etc... If you're close to exceeding your budget, you'll get a notification. I find that's an easy way to track your clash flow.
Thanks so much for the tip Likeminas. I will definitely look into that --it would be very helpful to track our budget. I feel like we spend more than we should on a day to day basis and really wanted to get some idea of how much spending others find to be reasonable.
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Old 05-29-2015, 11:54 AM
 
1,978 posts, read 1,240,165 times
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Originally Posted by yodel View Post
Thanks so much for the tip Likeminas. I will definitely look into that --it would be very helpful to track our budget. I feel like we spend more than we should on a day to day basis and really wanted to get some idea of how much spending others find to be reasonable.
NYC hasn't been reasonable for a long time. It is expensive to live here. To survive you need to learn to make sacrifice and compromises. Most middle class people who didn't buy in the 90's move to the suburbs and have a long commute to work. Others give up on NYC and move to more reasonably priced cities.
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Old 05-29-2015, 11:57 AM
Status: "I have "a thing" for duplex apartments" (set 1 day ago)
 
Location: Confines of the 101 Precinct
19,307 posts, read 32,774,221 times
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Originally Posted by yodel View Post
Thank you for your reply. I don't know how big your family is, but if you're currently maintaining your family on $1,200 after tax, that is great. We spend a lot more than that I hate to say. Our biggest expenditure is food, and I'm sure we spend more than $1,200 on that alone if you consider lunch bought out at work, takeout a few times a week and the occasional restaurant meal. I rarely go to Whole foods, but probably eat rather expensively even at the grocery store - vegetables, fish etc. We have 3 cell lines with full data, but will probably reduce that to 2 and 2 basic phones. I'd like to get rid of cable, but I think our kids would revolt. We don't wear "designer" clothes, but husband needs to wear suits. We get kids clothes as inexpensive we can find, often Old Navy or similar. Our income is very variable due to self employment + commission variation. I never know how much we've made until we figure it out at the end of the year.
Family of four - I spend about $400-$600 a month on groceries. We shop at 4-5 different places to make it work. Car's paid off. I bought it brand new 9 years ago.
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Old 05-29-2015, 12:00 PM
 
1,978 posts, read 1,240,165 times
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Originally Posted by SeventhFloor View Post
Family of four - I spend about $400-$600 a month on groceries. We shop at 4-5 different places to make it work. Car's paid off. I bought it brand new 9 years ago.
if only Far Rockaway wasn't so separated from the rest of civilization, I might consider moving there.
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Old 05-29-2015, 12:01 PM
 
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I spend 5k a month on non-housing related items in a middle class at best neighborhood.
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Old 05-29-2015, 12:02 PM
 
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Originally Posted by SeventhFloor View Post
Family of four - I spend about $400-$600 a month on groceries. We shop at 4-5 different places to make it work.
Honestly I wouldn't think that it's even possible to spend that little on groceries. If we could get our spending to your level, we'd survive on one income easily. Your kids are probably smaller than mine though (mine are 11 and 14). They pretty much eat as much as we do.
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Old 05-29-2015, 12:08 PM
 
Location: NYC
2,724 posts, read 2,869,692 times
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Quote:
Originally Posted by yodel View Post
Thank you for your reply. I don't know how big your family is, but if you're currently maintaining your family on $1,200 after tax, that is great. We spend a lot more than that I hate to say. Our biggest expenditure is food, and I'm sure we spend more than $1,200 on that alone if you consider lunch bought out at work, takeout a few times a week and the occasional restaurant meal. I rarely go to Whole foods, but probably eat rather expensively even at the grocery store - vegetables, fish etc. We have 3 cell lines with full data, but will probably reduce that to 2 and 2 basic phones. I'd like to get rid of cable, but I think our kids would revolt. We don't wear "designer" clothes, but husband needs to wear suits. We get kids clothes as inexpensive we can find, often Old Navy or similar. Our income is very variable due to self employment + commission variation. I never know how much we've made until we figure it out at the end of the year.
It sounds like you can save a lot of money cooking more and always packing your lunch for work.
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Old 05-29-2015, 12:12 PM
 
2,594 posts, read 3,381,688 times
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Originally Posted by SandyJet View Post
I spend 5k a month on non-housing related items in a middle class at best neighborhood.
Thank you. We're definitely above $3,000, maybe towards $4,000 depending what's going on. This month we need to buy another computer and AC . I feel like it should be less. Partially I hate to analyze every penny but maybe that's what we need to do.
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