$150k annual salary and we are thank G-d making it

amother

↑ Foxglove

Sun, Oct 06 2024, 9:11 am

amother Glitter wrote:

Did you include utlities?
Do you not have cleaning help or landscaping?

Landscaping on 150k budget? That’s quite luxurious. We have a cheap lawn mower, hedge, and string trimmer and roll up our sleeves. Landscaping is not a lower middle class need.

amother

Smokey

Sun, Oct 06 2024, 9:15 am

Any cleaning help? Transportation for any kids? Landscaping? WiFi? Student loans? Manicure or waxing? Clothing? Extra curricular for kids? Amazon? Target?

amother

Pewter

Sun, Oct 06 2024, 9:18 am

amother Snapdragon wrote:

Not op

For maaser I take our salaries and subtract out all tax deductions. I do pay on heath insurance and 401k deductions.
I found using a spreadsheet helped us out a lot. Like this:
https://www.ysccla.com/maaser-template/

I'm excited to try the template, but nothing that was clickable got me to the template.

amother

Tomato ↓

Sun, Oct 06 2024, 9:20 am

Sounds like a Baltimore Federal employee who bought here when homes were cheap.

Its doable. My husband is also a fed and we have a similar budget.

The reason people like you and me are making it is because of the very significant benefits calculated into our low salaries to make it worth it and the minimal housing costs. Anyone who purchased after houses went up are struggling on similar salaries.

amother

↑ Snapdragon

Sun, Oct 06 2024, 9:25 am

amother Pewter wrote:

I'm excited to try the template, but nothing that was clickable got me to the template.

Where it is says maaser template download here

amother

Pistachio

Sun, Oct 06 2024, 9:32 am

amother OP wrote:

$150,000 is the gross pay (approximate, give or take a few thousand in either direction).

Mortgage is low because we bought our house for $245,000 out of town, before prices shot up and while interest rates were low.

Health insurance is low because company pays 75 percent of the cost as an employee benefit. But I realized that the $400 (and change) includes only medical and we actually pay more like $600 (and change) including vision and dental. Those all come out of paycheck pre-tax.

In terms of maaser/tzeddakah we follow a psak that you calculate 10 percent after taking off necessary expenses. So reduce gross pay by taxes, tuition, mortgage, food, utilities, insurance and the like. Then take 10 percent of that number. Then reduce that number by certain payments to the school such as building fund. I think we shoot to give $2500-4000 a year in tzeddakah. Of course everyone should follow their own Rav in this.

I've never heard this before. This is not mainstream halacha.

amother

↑ Tomato ↓

Sun, Oct 06 2024, 9:33 am

amother Pistachio wrote:

I've never heard this before. This is not mainstream halacha.

A very big posek in Baltimore has this opinion on maaser.

amother

Blonde ↓

Sun, Oct 06 2024, 9:35 am

amother Pistachio wrote:

I've never heard this before. This is not mainstream halacha.

Not hearing it before doesn't mean it's not mainstream halacha. Many people don't think to ask, and just assume it's 10% with no cheshbonos. Ask your LOR.

amother

↑ Chambray ↓

Sun, Oct 06 2024, 9:36 am

What is the benefit of posting your exceptional circumstances?

mizle10 ↓

Sun, Oct 06 2024, 9:38 am

amother Blonde wrote:

Not hearing it before doesn't mean it's not mainstream halacha. Many people don't think to ask, and just assume it's 10% with no cheshbonos. Ask your LOR.

My husbands actually learned hilchos maaser any times. There are many questions regarding what's considered income (gifts, sales with 0 profit, loans, etc). But I don't believe there's ever a question whether maaser applies to income

amother

↑ Tomato ↓

Sun, Oct 06 2024, 9:46 am

amother Chambray wrote:

What is the benefit of posting your exceptional circumstances?

So people earning the same and wondering what they are doing wrong should know they aren't doing anything wrong.

amother

↑ Tomato

Sun, Oct 06 2024, 9:47 am

mizle10 wrote:

He's a really big rov so I assume he knows what he's talking about.

amother

↑ OP

Sun, Oct 06 2024, 10:46 am

OP here - thanks for the comments and it led me to realize I need to add/tweak a couple of things.

No landscaping (I am not even sure what that means) but we do pay a teen $30 every 3 weeks or so in the spring and summer to mow our (small) lawn. We don't have this expense in the fall or winter. I have a few hours of cleaning help a week, totaling $180-200 a month. Both of these expenses we pay in cash so I forgot about them but they should definitely be included.

Regarding food, we spend $200-250 a week but then it hit me that we also spend about $400 every 5-6 weeks at Costco. About half of that is chicken and the rest is cheese, grape juice, some cereal and snacks. I should probably tweak my grocery amount to $1400/month but aside from the month of Pesach I really think that's the max I spend on food. (I know someone started a spin off asking about the food so hopefully she will see this). Sorry - wasn't trying to low ball it to mislead anyone.

Yes we bought our home more than 10 years ago. In no way was I judging anyone who didn't, many people weren't even married then and it wasn't applicable! As rent was approaching the cost of a mortgage, for us it would have been not smart not to. I don't know how much our home is worth now, I would have to spend some time looking up some comps.

I didn't think my situation was so 'exceptional' as there are many people here (friends, neighbors, relatives) with similar financial situations. And while our budgets are not identical they are in a similar ballpark.

To the poster who has asked about orthodontia, therapies etc - yes, off and on we had those types of things. I put in the list $500 medical expenses to account for things like those. At this point we only incur some small copays on prescriptions or a sick visit here or there (well visits fully covered under ACA) but I like to put away some extra to cover things like therapy when they do come up. Last year I paid $60 a session every week for speech therapy for a kid for instance.

We do have some savings. My kids were born in sets, 2 close together and then a gap and then 2 close together so I am focusing on post high school and wedding expenses for the older ones and then once past that can focus on the younger ones. We may have to take out a home equity loan for some of those costs and I am ok with that. We can only do the best we can.

To the poster who asked about maaser - does your husband/Rav hold that you pay 10 percent of gross income absolutely with no deductions even for anything like taxes minimally?

amother

↑ Amaryllis ↓

Sun, Oct 06 2024, 11:17 am

amother OP wrote:

To the poster who has asked about orthodontia, therapies etc - yes, off and on we had those types of things. I put in the list $500 medical expenses to account for things like those. At this point we only incur some small copays on prescriptions or a sick visit here or there (well visits fully covered under ACA) but I like to put away some extra to cover things like therapy when they do come up. Last year I paid $60 a session every week for speech therapy for a kid for instance.

To the poster who asked about maaser - does your husband/Rav hold that you pay 10 percent of gross income absolutely with no deductions even for anything like taxes minimally?

I do think I've heard that about maaser but I think it's bare needs like I don't know that you can include how much you actually pay on food but what would be bare minimum but I could be wrong. I think we do our maaser after taxes because that's money we don't really see.
60 dollars a session is very little. PT is more like 160 for us so 500 doesn't really cover it for us.

amother

↑ Buttercup ↓

Sun, Oct 06 2024, 12:01 pm

As far as the maaser psak, it's very possible it depends on your financial situation. When we asked (same rav I'm assuming) if we can use maaser for tuition (we were paying full at the time) he said no to paying tuition with maaser but said we can calculate maaser after our basic necessities. If someone was a high earner it's very possible he would say to pay on all income. Point is, everyone should ask their own shailah Bec the answer may be different according to your situation.

amother

↑ Buttercup

Sun, Oct 06 2024, 12:04 pm

amother Tomato wrote:

So people earning the same and wondering what they are doing wrong should know they aren't doing anything wrong.

I think the question was on the original poster , not on you posting your similar situation.

amother

↑ Amaryllis

Sun, Oct 06 2024, 12:21 pm

amother Chambray wrote:

What is the benefit of posting your exceptional circumstances?

I think her point is that it is possible and people shouldn't just give up that there's no way they will be able to earn enough to support a family.

amother

Chartreuse ↓

Sun, Oct 06 2024, 1:15 pm

amother Chambray wrote:

What is the benefit of posting your exceptional circumstances?

I don't think her circumstances are exceptional. We make about the same amount and have about the same premiums and more in matching. Not federal employees.

amother

↑ Charcoal

Sun, Oct 06 2024, 1:34 pm

amother Chartreuse wrote:

I don't think her circumstances are exceptional. We make about the same amount and have about the same premiums and more in matching. Not federal employees.

Her circumstances are exceptional because it is virtually impossible for anyone buying a house these days in any sort of even tiny Jewish community with 20% down to have a mortgage of $1,600. So her anecdote is basically inapplicable to anyone who recently bought or will soon buy and is trying to figure out if they can survive on $150k these days.

amother

↑ Blonde ↓

Sun, Oct 06 2024, 1:43 pm

amother Chambray wrote:

What is the benefit of posting your exceptional circumstances?

I'm actually very appreciative, if it can give me a basic budget to work off. I'm pretty sure we live in the same community, our income is lower, family size slightly larger, but lower mortgage (smaller home, presumably). I've always wanted a sample budget, but could never find one.