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Forum
-> Household Management
-> Finances
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amother
OP
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 Wed, Mar 27 2024, 11:55 am
I know there are other threads like this but I hope people won't mind if I ask again. If you live in Lakewood in a house that cost 1 mil and have 2 little kids both in preschool what is your monthly budget?
Someone asked DH for a loan and I'm floored by what he said he needs per month. I live in NYC and I thought lakewood living was supposed to be cheaper.
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amother
Lemonlime
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Wed, Mar 27 2024, 11:58 am
Depends when the house was bought. If it was bought before interest rates went up, that is hugely different than people who are paying 7% mortgages. That’s a difference of several thousand dollars per month.
That being said, you’re able to buy houses for lower than 1 million. Most young people are buying outside of Lakewood these days, in Howell, Manchester, Jackson etc and there are options for 500-700k there. They still send their kids to Lakewood schools and use Lakewood’s resources.
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lamplighter
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Wed, Mar 27 2024, 12:05 pm
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Depends on their mortgage. That's seems to be the variable in most of these threads.
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amother
OP
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Wed, Mar 27 2024, 12:08 pm
| lamplighter wrote: | | Depends on their mortgage. That's seems to be the variable in most of these threads. |
OK so let's leave the mortgage put. What about everything else?
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amother
Tanzanite
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Wed, Mar 27 2024, 12:15 pm
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I don't live in Lakewood but I do have little kids and we need $5000-6000 a month- without careful budgeting. I could for sure decrease if I was more careful.
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amother
Jean
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Wed, Mar 27 2024, 12:16 pm
Depends also on which health insurance they have.
Medicaid, refua health share, marketplace, private....
Can be a difference of a few thousands per month.
How often do they eat out?
It seems like it's part of "the budget " for most young couples nowadays.
Is wardrobe bought in jewish boutique in Lakewood or budgeted (aka bought online/ali/shein/walmart)?
All depends on standard of living!
I can guarantee you someone who lives in a million dollar house doesn't get it clean without cleaning help on a regular basis!!
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