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You missed a key point in my post. I was under the impression that the OP was meeting their financial obligations on one income. Too many households have both parents working because they want all the extra's, thats a big difference from familys were both work to pay the bills.
We still have our piano...
Do you really think the majority of families on LI (and in this country in general) with both parents working are doing it for "extras?" I would say those are the minority, not "too many."
Do you really think the majority of families on LI (and in this country in general) with both parents working are doing it for "extras?" I would say those are the minority, not "too many."
I would say it changed although I know too many that are doing it for the xtras. As I wrote I originally thought the OP was able to live on the one salary, I then corrected myself.
Prior to the ecomomy changing I would say many were duel income because they wanted the extras not to make ends meat as it is now.
I would say it changed although I know too many that are doing it for the xtras. As I wrote I originally thought the OP was able to live on the one salary, I then corrected myself.
Prior to the ecomomy changing I would say many were duel income because they wanted the extras not to make ends meat as it is now.
Which economy change? Not the most recent one. I think both parents were working because of necessity NOT frills BEFORE the most recent/current recession, at least on LI. Which location are you talking about? LI or VA?
That may be, I remember reading a post on the Westchester board were someone wrote "Your really can't get a decent home for under one million" That was last year. I think there are a significant number (perhaps not on these boards) that live quite nicely on one income even in the current economy. There has been and continues to be the typical middle class that both work to stay afloat, more so now.
I don't know anyone that pays anywhere near $2k. . The average working household or single parent can't afford $2k-$4k, so it sounds like the people you know are paying for fancy babysitters in fancy neighborhoods.
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I do know people who pay that much. That depends on the requirements. Some people require to have a nanny 24/7 for a nearly a month. Then she has one weekend off a month. Yeah sounds crazy but there are costs associated with it.
Also other req. like someone who drives, can speak english well, etc....can easily drive up the prices.
I also know couples with 5 kids.....that obviously has costs associated with this as well.
We know of people in both situations. Some got married young and bought houses for $90k to $150k fifteen years ago and now their kids are older and they have money for new cars, vacations, updates on their homes, dinners out and college tuition. I also know people like ourselves that have big mortgages and can't go anywhere or do anything "extra". We are "modestly comfortable". Going out to eat every few months to a nice restaurant is our splurge.
Some inherited money or live in two family mcmansions with their parents who help pay the bills. Some have no kids and some have lots of kids. There are so many different situations that you never really know how people are paying for that Disney Cruise or new Mercedes. Most people that I know that are dual income are doing it for the extras or live above their means. I also know plenty of comfortable one income households that live very nicely.
^^great points. people here bring up the old days. Remember, 25 yrs ago when houses was 150k, that was a LOT of money too. also mortgage rates was 16% and more. I really agree people expect a lot these days in terms of material goods too. But I do also agree we have many expenses as well.
It wasn't long ago I had friends who expected to pull in 90k out of undergrad school & expect to buy close to 7 figure homes under 30 yrs of age. Its nice to be ambitious but its really not realistic for many people imo. I do admit i sort of have a disdain for that self entitlement generation
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