So many expenses, so little money...
Posted 01-09-2014 at 06:57 PM by Pinkmani
Actually, I guess the reality of this meme would depend on how much you make and you how budget your finances. I wonder how some people make it.
The average household income is $52k, so after taxes most people are taking home somewhere around $3,000 per month. I have to keep reminding myself that this is per household, not per person. Once I finish school, my estimated salary is supposed to be double that. I have to sit myself down and say, "Wow, Pinkmani! You're going to making double what most families make!"
And obviously, I'm using my real name, not Pinkmani.
Here are my favorite responses from the thread I created: https://www.city-data.com/forum/perso...americans.html
Quote:
Originally Posted by regular folk
My wife and I were going through our budget and talking about how expensive it is to live a middle class lifestyle today in comparison to when my parents were middle aged. So I started a list of common expenses that are typical to most (many) people that was not common 30 years ago:
Cell Phone (Smart Phone $75 a month)
Internet ($50 a month)
Cable TV ($100 a month)
Second Car ($250 a month payment and $350 for gas and insurance, etc.)
Lawn Service (Trugreen Chem Lawn) $50 a month
Cleaning Woman ($100 a month)
Cost to Attend Free Public Schools ($50 a month for fees and clubs and sports for the kids)
Want to add or subtract from the list?
Cell Phone (Smart Phone $75 a month)
Internet ($50 a month)
Cable TV ($100 a month)
Second Car ($250 a month payment and $350 for gas and insurance, etc.)
Lawn Service (Trugreen Chem Lawn) $50 a month
Cleaning Woman ($100 a month)
Cost to Attend Free Public Schools ($50 a month for fees and clubs and sports for the kids)
Want to add or subtract from the list?
Quote:
Originally Posted by harry chickpea
Garbage pickup - (in many areas we used to go to the dump)
Water and sewer fees - (hard to believe, but water used to be free in many places)
Increased gasoline expenses (people used to live much closer in to work)
Stupidity costs - (diner coffee used to be two bits, buying sugar water or bottled water was rare)
Limited lifespan equipment replacement - (electronics on a 2 to 4 year cycle, lawn equipment near that)
Parking fees - (parking meters and pay parking lots used to be only in big cities)
Clothing - (everybody is a clothes hound today, darned socks used to be common)
Landscaping and yard men - (people want instant results and won't wait for seeds or seedlings to grow)
Deli and pre-made foods - (Those very first tv dinners actually contained food!)
Then the big ones -
Medical insurance - (this used to be minimal, and even without it trips to a doctor were $20 and a hospital birth could be less than $200)
Drug costs - (many of these are obscene - a few years ago an inhaler that used to be $30 jumped to $200 for no reason other than the competitors dropped out in the U.S. while other countries have kept the low price.)
Car insurance - (totally insane in most cities now)
Homeowner insurance - (less coverage and higher premiums)
Flood insurance - (forced compliance)
Windstorm insurance - (forced compliance)
These last big ones affect the lower classes as much or more than the middle class, and are killing the spending power of many, which in turn is killing economic regrowth.
Water and sewer fees - (hard to believe, but water used to be free in many places)
Increased gasoline expenses (people used to live much closer in to work)
Stupidity costs - (diner coffee used to be two bits, buying sugar water or bottled water was rare)
Limited lifespan equipment replacement - (electronics on a 2 to 4 year cycle, lawn equipment near that)
Parking fees - (parking meters and pay parking lots used to be only in big cities)
Clothing - (everybody is a clothes hound today, darned socks used to be common)
Landscaping and yard men - (people want instant results and won't wait for seeds or seedlings to grow)
Deli and pre-made foods - (Those very first tv dinners actually contained food!)
Then the big ones -
Medical insurance - (this used to be minimal, and even without it trips to a doctor were $20 and a hospital birth could be less than $200)
Drug costs - (many of these are obscene - a few years ago an inhaler that used to be $30 jumped to $200 for no reason other than the competitors dropped out in the U.S. while other countries have kept the low price.)
Car insurance - (totally insane in most cities now)
Homeowner insurance - (less coverage and higher premiums)
Flood insurance - (forced compliance)
Windstorm insurance - (forced compliance)
These last big ones affect the lower classes as much or more than the middle class, and are killing the spending power of many, which in turn is killing economic regrowth.
Quote:
Originally Posted by michgc
Add to that:
--saving for retirement (many didn't do that years ago since there were company pensions)
--saving for college (although that was done 50 years ago, it wasn't as necessary then to have a college degree to get a job)
--saving for retirement (many didn't do that years ago since there were company pensions)
--saving for college (although that was done 50 years ago, it wasn't as necessary then to have a college degree to get a job)
Quote:
Originally Posted by tambre
What is preventing Americans from saving for retirement?
Some things that occured in my life and may have impacted others, as well: unexpected unemployment for my husband, who held the health benefits with his job, unexpected car repairs, house repairs and upgrades, medical expenses, increasing property taxes (when we moved to our house, the taxes were $1,200/yr., 20 years later, when we moved they were $8,000/yr, with the star exemption), increasing utility expenses, student loans, increasing car insurance premiums (3 teenagers, 2 adults) all with stagnant wages.
I worked at a civil servant job, but they didn't offer benefits, or paid time off, or sick time, or allow for full-time hours. Most times, I was self-employed as an independent contractor. Nice tax deductions, but now my social security is based on this.
When I did manage to save a little bit, working part-time (28-32 hours a week) in a school district, doing paperwork for free on the weekends, I had automatic deductions for retirement in NYS retirement system. At some points, something catastrophic would occur, and I would have to cash out the savings, with major tax penalities, or at times using credit cards to make up the shortfall for these emergencies. Some purchases to make life easier or to cut down on long-term expenses (refinancing at a lower interest rate, wood stove, decent car to prevent constant repairs and break-downs and loss of income from not getting to work).
Personally...poor money management, short-sightedness in not seeing how cost of living would increase astronomically.
Moved from NY State to a farm...the best decision ever!
Some things that occured in my life and may have impacted others, as well: unexpected unemployment for my husband, who held the health benefits with his job, unexpected car repairs, house repairs and upgrades, medical expenses, increasing property taxes (when we moved to our house, the taxes were $1,200/yr., 20 years later, when we moved they were $8,000/yr, with the star exemption), increasing utility expenses, student loans, increasing car insurance premiums (3 teenagers, 2 adults) all with stagnant wages.
I worked at a civil servant job, but they didn't offer benefits, or paid time off, or sick time, or allow for full-time hours. Most times, I was self-employed as an independent contractor. Nice tax deductions, but now my social security is based on this.
When I did manage to save a little bit, working part-time (28-32 hours a week) in a school district, doing paperwork for free on the weekends, I had automatic deductions for retirement in NYS retirement system. At some points, something catastrophic would occur, and I would have to cash out the savings, with major tax penalities, or at times using credit cards to make up the shortfall for these emergencies. Some purchases to make life easier or to cut down on long-term expenses (refinancing at a lower interest rate, wood stove, decent car to prevent constant repairs and break-downs and loss of income from not getting to work).
Personally...poor money management, short-sightedness in not seeing how cost of living would increase astronomically.
Moved from NY State to a farm...the best decision ever!
Total Comments 3
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I totally hold your president and his administation accountable for people not making it financially in this current ecomomy. Our own Vets are having to go out and hold signs because they are not making it. Just plain sick!!!!Posted 08-07-2015 at 06:11 PM by Spoonman1973
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Credit Scoring, Utilization of Credit Cards, & Household Budgeting should all be combined under a Personal Finance Elective and offered in college as a course to prepare future generations on personal money management.Posted 10-08-2015 at 09:14 AM by JXD Dan
