[joe moving]

I wonder if i could follow up and say, if not 65k is not enough to live on then how much do you (everyone) think is enough? It doesn't take us MUCH more at all to live in NJ where my mortgage+taxes are probably double that of VT.

FWIW I am not interested in Burlington, but smaller towns so speaking more generally....

[Sherylcatmom]

How much you need to earn to live here is subjective. It's based on your needs (e.g., housing, heating, healthcare/insurance, food, transportation, etc.) and your wants (e.g., entertainment, type of car you choose, club memberships, hobbies, discretionary purchases).

There are ways of mitigating costs if you have time and energy to give. For example, the discount on a food co-op membership can be augmented by working a couple hours a week at the co-op. Working one day a week at a health club could mean free membership.

It's also about where in Vermont you live. If you're not looking in Burlington or another pricey town (e.g., Woodstock, Norwich), then expenses go down. As long as you factor in other costs associated with not living in Burlington, such as possibly commuting and paying for rural services.

In Vermont, $65K is more than my family and I need to live comfortably and still do what we want. I moved here from South Florida, where my overall housing and other expenses were lower, but I spent far more money on pain relief -- buying products and entertainment to make me feel better about where I lived. (It never worked, by the way. It just reduced my bank account.) In Vermont, I'm happy and feel no motivation to spend money except for what I really need and what I'd truly enjoy.

Originally Posted by joe moving

I wonder if i could follow up and say, if not 65k is not enough to live on then how much do you (everyone) think is enough? It doesn't take us MUCH more at all to live in NJ where my mortgage+taxes are probably double that of VT.

FWIW I am not interested in Burlington, but smaller towns so speaking more generally....

[68vette]

You have to look at the whole picture. An income of 65,000 is plenty to live on if you are talking one, two or three people. When you are a family of five or more, $65,000 is cutting it close. The state has figured all this out. Look at the assistance the state gives for heat, etc. $65,000 for a family of five is just above that level. Hit a bump or two in the road and you are out of luck. The key in Vermont is housing costs per income. Other expenses can be costly as well, but not nearly as costly as housing. The OP was talking about a family of five or possibly more. A family that large along with two dogs puts almost every apartment out as an option. When you need to rent a three or four bedroom home, you will pay a significant amount as the OP found out. The one main expense which you can't cut back on is housing. The average two bedroom apartment in Vermont is about $1000 per month. A home will cost much more.
You can get discounts by working a day here and there, but with a large family, time is at a premium. It sounded like the OP has young children.
Burlington is an expensive area, but Vermont as a whole is not much behind. I lived in a rural section in Central Vermont and my household expenses were not much lower. Our mortgage payment was $300 less, but we had to commute to Burlington for work. Add in our fuel expense and there was not much of a difference. Food, utilities, etc were also similar and in most cases the same price.

[Sherylcatmom]

Originally Posted by 68vette

You have to look at the whole picture. An income of 65,000 is plenty to live on if you are talking one, two or three people. When you are a family of five or more, $65,000 is cutting it close.

This is a great point. Along with the usual expenses of children X however many there are, a family may be sending kids to private school, various lessons, sports with associated costs, etc.

[joe moving]

I see what you are saying about the 2 large dogs, Burlington rents and 3 kids.



The low income fuel assistance $ # for family of 5 was $47736 (http://dcf.vermont.gov/sites/dcf/files/pdf/esd/fuel/INCOME_GUIDELINES_10-11.pdf (broken link))

So i guess that does put some perspective on it.

[68vette]

Originally Posted by Sherylcatmom

This is a great point. Along with the usual expenses of children X however many there are, a family may be sending kids to private school, various lessons, sports with associated costs, etc.

I didn't mention the other expenses that kids will add. This is a good point. When My wife and I did our expense report last year, we were shocked at how quickly things add up. Ten bucks here 25 bucks there does not seem all that bad at the moment, but at the end of the year it can be a shock.