Take a Look at My Budget: An Atlanta Family of 5 Living on $162K (health insurance, good credit)

[aslowdodge]

Originally Posted by Jowel

Here's where I see fat (in addition to the utilities that others have pointed out):

-The $300.00 monthly country club membership. That seems like a big expense.
-The $200.00 (monthly) landscaping cost. What exactly are they doing to spend $200.00 a month?
-It's unclear how much of the $1,616 goes towards loan payments, personal loan (for what?), and car payments. What kind of car(s) are they driving?
-There are probably some other ways they could save more money but these are the items that jumped out to me the most.

I think cutting a lawn is about 75 ever 2 weeks then you have lawn service such as weed spray and fertilizer. Then you have trimming trees and shrubs, maybe planting flowers. 200 is not that far out.
I would imagine the country club is a social thing as well as entertainment. Maybe they have programs for the kids like tennis lessons and such.

[Citykid3785]

Originally Posted by samiwas1

She has a general idea. She's asked before, and I don't hide it...she just doesn't remember. We do not have a shared bank account, although she does have a check card linked to my account for most purchases. She now has a part time job and makes enough money to cover her basic expenses, and I pay for pretty much everything else. So, it is in a way a "joint salary". She's just not the best with money, spending, or saving, so I don't let on how much is in the bank. As long as we're able to spend as desired, she pretty much doesn't care.

My wife is chronically late. The only solution I have found to work is to lie about either the current time, or the time of the event. I hate coming to that, but it's the only thing that works!

[samiwas1]

Originally Posted by Citykid3785

My wife is chronically late. The only solution I have found to work is to lie about either the current time, or the time of the event. I hate coming to that, but it's the only thing that works!

Mine is the opposite. Wants to be waiting outside the door when a place opens, no matter what it is. Because it could get busy. We’re usually there 15 minutes before the workers arrive. I, on the other hand, am more leisurely.

[DreamerD]

Originally Posted by jsvh

One thing I have learned, is no matter how much people earn they will still find a way to live pay check to pay check.

If there is one piece of advice I can offer anyone it is to live below your means and don't feel an obligation to join in mass consumerism.

I really really love this post.

[DreamerD]

Originally Posted by Citykid3785

My wife is chronically late. The only solution I have found to work is to lie about either the current time, or the time of the event. I hate coming to that, but it's the only thing that works!

Originally Posted by samiwas1

Mine is the opposite. Wants to be waiting outside the door when a place opens, no matter what it is. Because it could get busy. We’re usually there 15 minutes before the workers arrive. I, on the other hand, am more leisurely.

Yeah...I have found this to be a cultural thing (not all the time). I've been to countries where it's almost unheard of for you to be on time (not work related). I wish I were more Type A. I always wonder how people can arrive so early to events.

[JOinGA]

Originally Posted by DreamerD

Yeah...I have found this to be a cultural thing (not all the time). I've been to countries where it's almost unheard of for you to be on time (not work related). I wish I were more Type A. I always wonder how people can arrive so early to events.

I am always, always early. I feel my anxiety rise by the minute if I am running late. My sister is always running late. It has always been like that. On the rare occasions bad weather would cause our father to take pity on us and drive us to school, we would be sitting out front with the engine running waiting for her. Sometimes my father would pretend to leave and drive around the block to get her moving. So, not cultural, in our case. I am a middle child and she is the oldest. I wonder if that factors in.....?

[samiwas1]

Originally Posted by DreamerD

Yeah...I have found this to be a cultural thing (not all the time). I've been to countries where it's almost unheard of for you to be on time (not work related). I wish I were more Type A. I always wonder how people can arrive so early to events.

I think Portugal is one of these. Trying to remember...when I was on tour with a family entertainment show, the advertised starting time was 7:00, but we wouldn't actually start until 8:00, because no one would be there until then. That's the only country where we did that.

[BamaDave]

I found this budget really interesting to look at. Our income is a little higher, but we are 52 with a 23 year-old daughter (getting married this year and just became financially independent - woohoo), a 19 year-old daughter attending a local, expensive university, and a 3 year-old granddaughter in our household. Obviously we have different expenses at a different life stage, and presumably this couple will earn well above what we do now by the time they reach their early 50's. My comments on the budget:

$1800 Mortgage - This strikes me as pretty good for Metro Atlanta.
$676 Utilities - This seems a little high to me. They should try bargaining with their internet/cable provider(s) by kindly threatening to change providers. I've knocked my TV/interwebz bill back over $100/month with this approach.
$1616 Loans - Can't really judge. Hell, I'm spending $800/month on car notes for two modest, safe, economical automobiles. Without more details, it's hard to gauge.
$1000 Groceries - This is about what we spend for my current household of four.
$142 Auto and Life Insurance - I'm so jelly... But of course I'm older and have a 19 year old driver who totaled an automobile during the past year, so yeah...
$260 Credit Cards - Hard to judge. How much of this is going toward the balance versus interest? If they've been in their home for awhile and have built up some decent equity, they might want to consider a home equity line of credit with a much lower interest rate than what they're paying the credit card companies.
$282 Cell Phones - What in the everloving hell? They said their kids are 8 and under. Do they have their own devices? If so, why? Give kids old phones as WiFi devices. They don't need a data plan!
$360 Housecleaning and Landscaping - If you can afford it, why not? We don't pay for either of these but also don't live in a community that demands perfectly manicured properties. Obviously this is dispensable if they want to change.
$500 Dining Out - This is pretty high, so I would look into cuts here if they want to make changes.
$400 Kids Activities - Doesn't this seem high, or am I showing my age?
$300 Country Club - Yikes, but maybe he needs it for making contacts and elbow rubbing?

I found myself wondering about charitable contributions as church attendees. That's often a sizable chunk of change for the devout!

[kgpremed13]

Originally Posted by Born 2 Roll

"Take a Look at My Budget: An Atlanta Family of 5 Living on $162K" takes a look at the expenses of a couple from the Atlanta suburb of Marietta who earns $162k combined.

The couple (which includes the husband who is an accountant that earns $150k per year, the wife who earns only $12k per year as a freelance writer and a stay-at-home mom and their three kids under the age of 8) aims to save for big future expenses while attempting to invest.



"Take a Look at My Budget: An Atlanta Family of 5 Living on $162K
...Vacay goals, the perks of family museum memberships and water gun runs" (The Real Deal by RetailMeNot)

Someone making 150k a year has no business marrying, let alone having kids with someone who has no earning potential. Hypergamy like a **** and dude is gonna get raped in divorce court. She's a stay at home mom, yet pays a crap load of money for, child care, house cleaning, eating out, lawn care, what does she do all day.

[DreamerD]

Originally Posted by JOinGA

I am always, always early. I feel my anxiety rise by the minute if I am running late. My sister is always running late. It has always been like that. On the rare occasions bad weather would cause our father to take pity on us and drive us to school, we would be sitting out front with the engine running waiting for her. Sometimes my father would pretend to leave and drive around the block to get her moving. So, not cultural, in our case. I am a middle child and she is the oldest. I wonder if that factors in.....?

In your case, maybe life experiences? Perhaps in life you have been reinforced when early. I remember one time i was abroad and I went to this little social gathering. This lady made the mistake of showing up early to the event. I guess most people had arrived maybe at least an hour late with the earliest maybe half an hour. She ended up leaving and vented about the situation. I couldn't help to think...it's obvious she's "Western"...look at her having to be early to everything. I myself was probably at least two hours late. It might have been a huge shock to what she was used to-most people arriving early/on-time to events.


I apologize if there are typos.