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Forum
-> Household Management
-> Finances
amother
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 Tue, Aug 20 2024, 6:06 pm
Financially?
With a $3000 to $5000 morgage. And by the way, where can you find a normal size house these days with a $3000 morgage?
Food, tuition, insurance. And then add all the extras.
Even with both parents working, they are making $120 combined? It doesn't add up.
How on earth do people survive?
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amother
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Tue, Aug 20 2024, 6:08 pm
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In the last few years our expenses have completely spiraled. No, we are not making it, but luckily we have some savings. We have been pulling from savings every month while we scramble to set up additional sources of income (with Hashem's help). It's really mind boggling.
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Genius
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Tue, Aug 20 2024, 6:09 pm
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Many people have older and cheaper mortgages. Many people buy in cheaper areas. Many people have nice incomes. Are you trying to figure out how you can make it work?
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Genius
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Tue, Aug 20 2024, 6:10 pm
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I forgot to mention that some people don’t survive. They take from the government, organizations or starve.
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Frumomsi
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Tue, Aug 20 2024, 6:11 pm
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Our community needs to adjust to reality. That will help.
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amother
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Tue, Aug 20 2024, 6:14 pm
I'm talking about middle class.
They don't qualify for government help and are not technically struggling so don't get assistance from organizations.
But thinking about month to month; how is it done?
I am sure many move out of town, but there are plenty middle class in more populated towns. I'm thinking Baltimore, Monsey, Chicago.
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amother
Natural
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Tue, Aug 20 2024, 6:16 pm
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I dunno I have a 4k mortgage and we’re really struggling. Davening for salary increase
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amother
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Tue, Aug 20 2024, 6:16 pm
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We rent. We still aren't surviving financially, but better than if we were paying a mortgage.
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amother
Pewter
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Tue, Aug 20 2024, 6:21 pm
Mortgage 3900
Income 200k before taxes
Tuition 33000
Food and electricity are the most after then gas.
It didn’t make sense to rent anymore. We took every penny from savings and borrowed to buy. We are in the red every single month. We need 3 bedrooms as big boys and girls can’t share a room. Renting a 3 bedroom in my area is roughly the same amount as my mortgage. I’m desperate for a job iyh all my kids will be in school until 330 so hopefully it will be easier than this yr when youngest would show up at 230 bc playgroup ended so early. I pay one bill one month and another bill another month. It’s not sustainable. Not sure how we will get out of this hamster wheel. The kids are almost at shidduchim and we don’t have a dime to even make a lchaim forget about paying a shadchan. And if we borrow how will we pay back?! Hashem is in charge and will send us the money!
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amother
Springgreen
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Tue, Aug 20 2024, 6:23 pm
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amother
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Tue, Aug 20 2024, 6:27 pm
| amother OP wrote: | Financially?
With a $3000 to $5000 morgage. And by the way, where can you find a normal size house these days with a $3000 morgage?
Food, tuition, insurance. And then add all the extras.
Even with both parents working, they are making $120 combined? It doesn't add up.
How on earth do people survive? |
Who's surviving?
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amother
Brown
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Tue, Aug 20 2024, 6:28 pm
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Renting and not surviving. No savings to even think of buying a house and this is with older kids. I keep Wondering how everyone else manages.
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amother
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Tue, Aug 20 2024, 6:34 pm
We're not making it. Still renting, cause can't afford to pay for mortgage, though our rent is sky rocket too. We already have kids in Shidduchim and I can't imagine how we will pay for things. We have $0 in savings. I just put away money for a shadchan. My DH works several jobs but the pay is beyond... My business is dead currently so no income on my end. We're not eligible for government programs or organizations, yet we're far from making it.
We're deep in the waters almost drowning but trying to keep riding with the waves.
Bderech Hateva, there's no way we're able to live with the income we make and size of family.
With lots of Emuna and Bitochon, We're surviving bh. Trying to keep a positive attitude. No vacations, no luxuries, just necessities...
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amother
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Tue, Aug 20 2024, 6:37 pm
| Frumomsi wrote: | | Our community needs to adjust to reality. That will help. |
Not sure what you mean. Do you not believe that families are genuinely struggling with basic living expenses?
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amother
DarkGreen
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Tue, Aug 20 2024, 6:41 pm
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120 combined is pretty low if you’re in NYC metro. You each can make that amount (working full time)
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amother
Moonstone
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Tue, Aug 20 2024, 6:41 pm
Our mortgage is under 3k
We make more than 120k
We have a small family
We are really really blessed
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amother
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Tue, Aug 20 2024, 6:43 pm
| amother Steelblue wrote: | | Not sure what you mean. Do you not believe that families are genuinely struggling with basic living expenses? |
Some people live above their reality, they claim they don't have money and go on vacation, spend on luxuries, buy expensive sheitels, go to restaurants and try to live up to the neighbors standards.
You hear people crying how much their struggling and then you see them spending on unnecessary stuff...
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amother
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Tue, Aug 20 2024, 6:46 pm
| amother Narcissus wrote: | Some people live above their reality, they claim they don't have money and go on vacation, spend on luxuries, buy expensive sheitels, go to restaurants and try to live up to the neighbors standards.
You hear people crying how much their struggling and then you see them spending on unnecessary stuff... |
Ok, but it's pretty insensitive to insinuate that we would all be fine if we just understood that we can't spend so much. Many many many families are struggling with the basics, because the reality is that a huge income is necessary.
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amother
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Tue, Aug 20 2024, 6:47 pm
| amother Narcissus wrote: | Some people live above their reality, they claim they don't have money and go on vacation, spend on luxuries, buy expensive sheitels, go to restaurants and try to live up to the neighbors standards.
You hear people crying how much their struggling and then you see them spending on unnecessary stuff... |
And plenty of other families don't go on vacation, don't buy luxuries, are wearing old shaitels, don't eat out, and can't even try to live up to anyone's standards.
Those families are legitimately struggling.
No amount of lowering standards will help when you never bought into those standards to begin with.
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amother
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Tue, Aug 20 2024, 6:47 pm
| amother Steelblue wrote: | | Not sure what you mean. Do you not believe that families are genuinely struggling with basic living expenses? |
Or adjust to the reality that our current lifestyle is not sustainable for the average family and reset our setup.
We have been heading down this direction for some time now, but we swept it under the rug. The current inflation has accelerated the process now and the reality is now staring in our faces.
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