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Do you have kids or have you had kids recently? Are you aware that childcare alone for just 1 or 2 kids is now easily running over $2000+/mo. in many parts of the country?
Yes, I have 2 kids and I live in a high COL area (DC). My wife and I decided that one of us would bring the money and the other would look after the kids until they were both in kindergarten. Luckily, we both got to share in the duties because of working from home.
We sent our kids to preschool for a few hours a day. We searched around and found ones with a lower cost. That's the main childcare cost we had.
So you were spending 20-30 a day on eating and drinking out?
I wish I could find it but there was somebody on here a couple weeks ago who was complaining they couldn't afford a car, let alone a house, but was spending $300/week at restaurants plus another $150/week on groceries.
Extrapolate that out and you get a significant amount that could be repurposed.
Not counting coastal cities and high cost of living cities, how do most people not afford homes? I used a mortgage calculator, and if a couple has a income of 80k (40k a person), 600 in monthly debt, and a down payment if 10k, they could afford a home of 300k! Even 200k will get you something decent. That’s a pretty nice home in most of America, and making 40k a year isn’t hard. What am I missing?
This sounds like my daughter's or my wife's reasoning. Two very book smart women who are very clueless about real world finances. Some one making 80k a year would probably be hard pressed to pay 60k plus for 30 percent down payment, usually needed on a 300k loan to forgo PMI. Other unexpected peripheral expenses comes with buying a home that will quickly drain your wallet and bank account. Those mortgage calculators are liken to the 299.00 monthly new car notes advertised by dealers.
40k a year is like $20/hour. Minimum wage in many parts is $15 an hour. How can someone who’s halfway motivated not reach that income by their late 20s?
Did you have to pay for college yourself too? That's a big amount of debt for a lot of people. Even if they start a full time salary at 22, it will be years before they start actually saving for a down payment and that's assuming nothing goes wrong/sideways in their life.
Because people don't want to live where nice homes are $300,000. They prefer to stick to highly desirable areas and whine because they can't afford to buy a house.
So you were spending 20-30 a day on eating and drinking out?
That would be very easy to do. Buy a fast food lunch at work, dinner at a restaurant or pick up take-out on the way home, a cocktail or two, a cup of fancy coffee in the morning and you would be spending more than $30 a day.
Money spends quick and it is tricky to keep track of where it disappears to if you aren't paying careful attention. It's easy for your wallet to mysteriously empty and you are standing there with nothing to show for it and not sure where the money went.
I wish I could find it but there was somebody on here a couple weeks ago who was complaining they couldn't afford a car, let alone a house, but was spending $300/week at restaurants plus another $150/week on groceries.
Extrapolate that out and you get a significant amount that could be repurposed.
lol there was a video I watched the other day of a woman the pulls up to starbucks to call out a Barista that stole her debit card information. The woman said the barista could not pay her rent because 200 dollars was stolen, but she literally goes to starbucks every day for her latte?? I get the whole theft part and its bad and all. But cmonn... maybe you dont have an extra 200 bucks because you go to starbucks every day.
Ummmm...never. Today I fixed a leaky sink drain. A few months ago I rebuilt a bathroom floor and replaced the toilet. The floor had to be rebuilt because whoever built the house installed the toilet wrong. I had never done either one before.
I have repaired freeze-broken pipes and the water heater. I have replaced leaky roof shingles. I have several books on home repairs, when something breaks I have the information to fix it.
Sometimes I feel sorry for people who can't find their hood latch, let alone the dipstick to check their oil.
Good for you. I will tell granny down the street to call you instead of SO or a plumber.
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