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If you make 50K and spend 75k you aren't making enough to support your family.
If you make 100K and spend 110k you aren't making enough to support your family.
If you make 100k and spend 70k you are making enough to support your family.
If you make 70K and spend 65k you are making enough to support your family.
It doesn't matter where or how you live, if you can't figure that simple premise out.
That is also true; however, one still needs to make a certain livable wage if you are taking care of someone other than yourself. Someone making $20k a year can not take care of a 4 person family.
In this day and age most families have to have a two person income to survive or a parent that has a full time and a part time job.
Hey, hats off to those guys who want to be the sole providers. As for me (female), I much prefer working. Why put him through all of that stress of having to support four people when I can easily shoulder some of the load? Things are so much easier when two people are employed.
Hey, hats off to those guys who want to be the sole providers. As for me (female), I much prefer working. Why put him through all of that stress of having to support four people when I can easily shoulder some of the load? Things are so much easier when two people are employed.
Not necessarily. If I worked most of my income would go to pay for daycare for 2 children and after-school care for 1 child. It wouldn't be worth it. And my spouse earns enough that I don't have to work anyway. Everyone's situation is different.
Not necessarily. If I worked most of my income would go to pay for daycare for 2 children and after-school care for 1 child. It wouldn't be worth it. And my spouse earns enough that I don't have to work anyway. Everyone's situation is different.
I understand that everyone's situation is different and I understand what you're saying. However, even daycare wouldn't be nearly equal my salary. My husband makes a good living on his own but it's far more reassuring that you have two people shouldering the earning load. YMMV, of course.
If you make 50K and spend 75k you aren't making enough to support your family.
If you make 100K and spend 110k you aren't making enough to support your family.
If you make 100k and spend 70k you are making enough to support your family.
If you make 70K and spend 65k you are making enough to support your family.
It doesn't matter where or how you live, if you can't figure that simple premise out.
So let me try to estimate how much I'll spend per year:
Home ownership 12k (modest size home with 50%+ down)
Food 8k
Automobile 4k (title is clear)
Healthcare 6k
Utilities/mobile/internet 5k
Clothing 3k
Household items 2k (I already have most of that)
Non-essentials/travel 5k
_______________________________
Grand total of 45k
Wow I can save 5k per year with a 50k salary, early retirement here I come!
I think good schools are over-rated. The taxes make a good point. 100k falls into that higher tax rate bracket. In this way I think people should strive at least just below the next bracket which is what, 70k?
Many ppl crap away their money with overpriced housing in a boring neighborhood or luxury cars or overpriced college. I'm preparing to take up an additional job.
Good schools are NOT over-rated if you have children! And even if you don't have kids you want your house to be in a good school district otherwise your home will not be as desirable to buyers and it's value will not be as good!
So let me try to estimate how much I'll spend per year:
Home ownership 12k (modest size home with 50%+ down)
Food 8k
Automobile 4k (title is clear)
Healthcare 6k
Utilities/mobile/internet 5k
Clothing 3k
Household items 2k (I already have most of that)
Non-essentials/travel 5k
_______________________________
Grand total of 45k
Wow I can save 5k per year with a 50k salary, early retirement here I come!
You forgot about taxes! If you're making $50K, you're not taking home $50k!! Plus, who put's 50% down on a house?? Most don't!
The thread is...Can you support a family of 4 on less then $100k, not if you are single! If you have a family your expenses are more than you specified. Food alone is ALOT more!
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