Is 80 k a good income to live in Herndon for a newly wed couple?

[Matt2789]

Originally Posted by jillabean

I get what you are saying, but some of us don't have the luxury of working another job, etc. Like I said, I am a single mom. I can work during the school day (and use SACC) but if I were to work longer hours, another job, etc not only would I barely see my child; but I would also be spending most of what extra money I earn on child care and taxes.

I don't do all that stuff your friend does. I just do simple things. For example, I don't go to the movies, I watch them on video and make my own popcorn at home (a couple of dollars vs $20-30), I make food from scratch and don't waste money prepared meals or eating out except once in a while as a special treat, I pack my lunch for work, I don't have a gym membership--but I use the Fairfax County parks for free for exercise, I don't buy things I don't need just because I "want" them, etc. The biggest impact this all has on my life is that my daughter is upset I don't have any "iFads" that she can play with like her peers at school. I pay her allowance though and told her if she wants one, save up and buy one.

I find that (for me) $85k is enough to live very comfortably in this area with money to spare to save (and I do have invest income now that I have investments I've been saving). It might be different for two adults though (like I said, it's me and my daughter). I still enjoy life and do fun things, I am just smart about it (to toot my own horn ).

I like your style! So many people fall into the trap of spending what they make (or many times more). It's insane to me that $70/mo gym memberships, $100/mo "smart phones", $70/mo cable bills, and $10 daily lunches have become the norm! I see so many peers scraping by on $50k a year! Consumerism runs rampant in our society. Spending smart doesnt have to mean not having fun and certainly doesnt have to mean you spend all of your free time hunting for bargains.

[FCNova]

Originally Posted by NovaOne

It's far more productive to find ways to make more money, whether through career advancement, a second income source, investments, or even starting a side business. I have a friend who constantly texts me deals to movies, fast food restaurants, tax-free shopping days, and other such things - so she is spending time and effort keeping up with stuff like this. It's so wasteful when her efforts could be better spent on making more money.

Cutting costs is more productive than making more money, because it's actually easily doable. Almost everyone wants to make more money and works to advance their career but it takes time. You can't just decide one day, I want to move up to senior manager because I need more money, ok done now I'm a senior manager. You don't have total control over it and it takes time. Cutting your monthly costs can be done instantaneously. Second job isn't always possible because of time constraints. The last two things you mentioned to make more money actually involve spending money(investments, starting a business). The last thing someone really tight on money is going to have is a big chunk of money to invest or start a business.

BTW your friend isn't really cutting costs by going to the movies, restaurants, or shopping even if she's using Groupon.

[NovaOne]

Originally Posted by jillabean

I get what you are saying, but some of us don't have the luxury of working another job, etc. Like I said, I am a single mom. I can work during the school day (and use SACC) but if I were to work longer hours, another job, etc not only would I barely see my child; but I would also be spending most of what extra money I earn on child care and taxes.

I don't do all that stuff your friend does. I just do simple things. For example, I don't go to the movies, I watch them on video and make my own popcorn at home (a couple of dollars vs $20-30), I make food from scratch and don't waste money prepared meals or eating out except once in a while as a special treat, I pack my lunch for work, I don't have a gym membership--but I use the Fairfax County parks for free for exercise, I don't buy things I don't need just because I "want" them, etc. The biggest impact this all has on my life is that my daughter is upset I don't have any "iFads" that she can play with like her peers at school. I pay her allowance though and told her if she wants one, save up and buy one.

I find that (for me) $85k is enough to live very comfortably in this area with money to spare to save (and I do have invest income now that I have investments I've been saving). It might be different for two adults though (like I said, it's me and my daughter). I still enjoy life and do fun things, I am just smart about it (to toot my own horn ).

We all have only 24 hours in a day. What we do with this limited resource, and how efficiently it is used is what makes the difference. But within the confines of our personal choices: the need to spend time with kids, being a single parent, certain amount of time dedicated to relaxing - these are all important things that form our basis of "quality of life", you still can be efficient about using your time to increase your income. If you are working 8 hours a day, then make sure you are paid as well as you can for those 8 hours. If you have a hobby, some times it can be possible to turn a hobby into a money source.

[CleoShahateet]

I think 80,000 is totally doable for a couple with the expenses you mentioned. You got some good advice on here and you are doing your research so you seem like you will be just fine. Good luck!