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$5,400 net pay per month assuming 5 deductions. This is probably wildly optimistic.
$2,500 rent/month (might not be possible - and very likely probably not possible).....
$350/month electric (hopefully)
$200/month water (hopefully)
$1,000/month food (I'm getting hungry thinking about $33/day for 5 people)
$40/month car insurance (optimistic)
$200/month gas (coming from the West Side - I'm on the low end)
$200/month clothing (5 of you)
Not a requirement to purchase clothing every month and there are Goodwill, Salvation Army and a number of other second hand shops for clothing.
$50/month cable/phone/internet (bare bones and not possible)
Not a necessity, these are luxury items that one can live without.'
$50/month cell (not a family plan)
$250/month - day to day necessities (soap, deodorant, toothpaste, shampoo, cleaning supplies, detergent)
I cannot even fathom spending so much on these items in one month, even with children.
$250/month entertainment (good luck with that with 5 of you)
Entertainment is free at parks, some zoos, museums, etc.
$100/month medical (I guess we can hope for perfectly healthy)
Of course, I've not accounted for savings - college savings - something happening (illness, kids needing glasses, kids events, etc), flights to mainland (it would never happen), emergencies.....
But, hey - go for it. (expenses off the top of my head - I'm sure I missed a lot)
Original poster I myself would be leary of such an upheavel on such short notice. I agree moving to Hawaii may sound exciting but you really have no idea what you are getting into and if you and your family are happy where you are why not stay there until you are better prepared for such a move.
You can do it. The salaries are not that high here, so there are plenty of folks with families living and enjoying life, while making considerably less than you.
Yes, of course, there's no question they could make it. Many families get by with far less. But that misses the point. There's no way to overlook the fact that their standard of living in Hawai'i would be far lower than it is now in Denver, even with the slightly higher salary. The COL calculations show their current $75K lifestyle in Denver would drop to the equivalent of what it would be at $50K in Denver, even with $85K salary in Honolulu, due to the far higher cost of living on Oahu.
IOW, sorry to say, it would be like taking a 1/3 cut in salary.
I could do without cable TV and do Straightalk for $50 but you'd need 2 phones... make that $100. You can surf the net and text like crazy on that.
I could do cheaper clothes if you go to yard sales/thrift stores...
Entertainment you could pare down MAYBE... beach is free... and hiking. I was thinking you could save and do something big once every month or two but you'd still have to scrimp to stay below $250.
Hmmm..... not seeing much wiggle room...
(can somebody do me a budget like that? I'm awful)
It came to my attention the medical ($100/month) was woefully short. Figure minimum employee contribution of $180, then all the out of pocket fees you'll have especially with children - think dentist.
$2,400/year for clothes is hardly anything for 5 people, that is a Kmart clothing budget - if you make $85K, you can't exactly dress like a slob.
$250/month for entertainment is so low - the beach is free, except for when the kids want to eat. What about when the kids are in school and there is pizza night, movie night, activities with friends - just never let the kids go? What kind of a life is that. No bikes for the kids?
Anyone where contacts? No gym membership I guess. Better not go to a hairdresser. Hope the kids don't want any toys and games (entertainment budget), better not buy any dry clean only clothes.
The point is, that annual salary is either entirely unrealistic on Oahu or leads to a fairly miserable lifestyle.
Yes, of course, there's no question they could make it. Many families get by with far less. But that misses the point. There's no way to overlook the fact that their standard of living in Hawai'i would be far lower than it is now in Denver, even with the slightly higher salary. The COL calculations show their current $75K lifestyle in Denver would drop to the equivalent of what it would be at $50K in Denver, even with $85K salary in Honolulu, due to the far higher cost of living on Oahu.
IOW, sorry to say, it would be like taking a 1/3 cut in salary.
Yeah, probably right, especially with a family of five. We had something similar with that salary for a period of time in 2002 and 2003, for a family of four and though it was tight, we were okay. I was the only income earner until my husband became employed, then our household income greatly improved.
Unfortunately, when you have kiddos, it really does drain the funds quickly.
This is a good list, perhaps if you are good shopper your food bill may be a couple hundred less; and I would add:
$250+/month for school lunch (unless they will be taking their lunch)
That's pretty high.
Lunch at state elementary schools is $2.25.
Lunch at state secondary schools is $2.50.
That's pretty high.
Lunch at state elementary schools is $2.25.
Lunch at state secondary schools is $2.50.
It may be, I was basing this off of my own grandson's lunch each day that goes between $3-$5 depending on what he buys. And then when you multiply by three, well - that's where the number comes from.
We lived in Lone Tree & Loveland for years, and I will tell you that Oahu is so much more expensive than you can possibly imagine. Gas, food, utilities, rent. Its all much more than you can imagine. Public schools are so far below what is considered average in Colorado, it will blow your mind. Free transportation, forget about it. Decent after school care? Ha!
Your 5 year old will speak better English than most of the teachers or politicians here. Truly, for your childrens sake, do not even consider Hawaii unless you can afford private schools and you cannot at 85K w/5 persons.
Besides that, consider no biking, walking or hiking trails to the standard you are used to; meaning maintained, signed, funded. The only area in the islands that has any financial support is a peculiarly small area called Wiakiki. Why this cultural wasteland is artificially maintained is a true mystery, except that it supports the status quo and generates dollars for politicians and off island interests.
Colorado has a hugely successful lottery that splits money between education and public amenities. Hawaii exports those dollars to Vegas to support Nevada's population because we have a vocal minotirty in the LDS church that stops lottery in Hawaii. Hawaii roads suck, Traffic is a nightmare and the majority of the knuckle draggers are trying to stop any improvement to mass transit ie light rail.
The only plus I can see is weather and fewer clothes.
Location: not sure, but there's a hell of a lot of water around here!
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Quote:
Originally Posted by Joliefille
The only plus I can see is weather and fewer clothes.
I think the ocean could be considered as a plus. Hows the surf in Colorado?
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