$300k IS NOT ENOUGH!!

amother

↑ Cornsilk ↓

Wed, Dec 18 2024, 1:34 pm

amother Holly wrote:

Ok I've kept quiet till now but I've had enough of these threads.
Some of us are scraping by on a fraction of that.
So just stop!
I'd be over the moon if I earned that amount.

Your expenses sound crazy high maybe you need to rethink your lifestyle. Move to a cheaper place or something if that's what you are paying a year.

I don't know, just stop complaining how your higher end wage (compared to many) isn't enough.

We get it, the rest of us are destitute in comparison. Thanks for rubbing it in

We make less than half of what OP is making and have double the amount of kids. I don't find these threads offensive at all. It's actually encouraging to me, that it's not like we could avoid struggle by earning more money. Challenges in parnasa are had by pretty much everyone, so we can stop second guessing our hishtadlus. We are doing our best, and Hashem will decide how difficult finances will be.

amother

↑ Brickred

Wed, Dec 18 2024, 1:37 pm

amother Bluebell wrote:

This. You put down about 1ml, only someone wealthy can do that.

My point was that a $5,000 mortgage is NOT a lot for in-town, unfortunately. If you actually read what I wrote, you would see that my mortgage is $1.1M and my payments are close to $100k annually. You can’t buy a house for that much less these days, and if you don’t have a lot to put down, you’re left with a mortgage of approx $80k annually.

amother

↑ OP ↓

Wed, Dec 18 2024, 1:38 pm

amother Holly wrote:

Ok, can you post a basic breakdown of your income and expenses, along with your location and amount of kids?

Can you tell me exactly which expenses I should/can cut?

amother

↑ Holly ↓

Wed, Dec 18 2024, 1:53 pm

amother OP wrote:

Ok, can you post a basic breakdown of your income and expenses, along with your location and amount of kids?

Can you tell me exactly which expenses I should/can cut?

That's not the point. I live on about 30k (I'm a single mother and looking for more work but even then I might have 50k) in an expensive area. Yes thankfully I have a much smaller mortgage but if I had such a huge one I'd re- think where I was living. My main point is I wouldn't go complaining in front of people who earn so much less then me. 300k is not considered low income regardless of your life circumstances.

amother

Cyclamen ↓

Wed, Dec 18 2024, 1:55 pm

Ok I'm posting my budget so people see it's doable. I live in Lakewood earn around 150k combined pre tax. We have 4 kids. Obviously expenses keep going up

Monthly tuition/playgroup 2450
Mortgage 3500
Cars 1200 (includes gas insurance and 1 van lease) we have a second car that's paid up in full
Utilities 350
Food 1000
Target (diapers, toilet paper... ) 200
Miscellaneous 400- clothes, haircuts..
Masser 1100

Total expense 10,200
Obviously that's cutting it very close. But this is why when I see 300k I can't beleive it. I guess I have a decent mortgage and not 6 kids yet. Hoping to raise income.

amother

↑ Chestnut ↓

Wed, Dec 18 2024, 1:56 pm

amother Brickred wrote:

You can buy a house for 1 mil. Which isn't cheap but half of what you paid. You clearly wanted a nice size house in a pricier area. Which is fine. But not a necessity.

amother

Puce ↓

Wed, Dec 18 2024, 2:00 pm

amother Coral wrote:

Don't buy an $800K house
Why the heck should that be the norm?
OOT you can get a nice house for half that amount.

yes this is true but what should she do? uproot her whole life and family? they are settled in their town and in their schools. they need to work with tht. not to mention 300k is a nice salary even if tight for her family as she described above . if she moved away who said she would find jobs tht make tht amount? so you aren’t rly comparing apples and apples.

amother

Marigold ↓

Wed, Dec 18 2024, 2:02 pm

amother Cyclamen wrote:

$350 for utilities is very cheap. I pay just that in electric. And your tuition is very cheap as well. I pay $900 a month just for babysitting group.

amother

↑ Cerise ↓

Wed, Dec 18 2024, 2:02 pm

amother Cyclamen wrote:

So I make around the same amount with 3 kids. My daycare/ tuition is 3000 a month because no one is giving us a discount.
Health insurance is 2k a month because we’re not eligible for any subsidies.

And our post tax is only 8k.

amother

↑ OP ↓

Wed, Dec 18 2024, 2:03 pm

amother Holly wrote:

Actually that is exactly the point. The point is that I gave you a very basic breakdown of very normal expenses for a frum family and showed you clearly how $300k doesn’t cover them. I assume you have assistance for healthcare, tuition, possibly food?

I have a 2,800 square foot house built in the 60s. I walk a mile to shul. 1 other frum Jew on my block. Sure if I had to I would sell and rent a 2 bedroom apartment for $2k. BH I don’t have to. But my point is that no part of my life is extravagant or luxurious. My point is that it’s insane how much money it costs to live what most would consider a regular middle class lifestyle. My point was NOT to get pity from anyone or to say I’m poor. My point was NOT to say that I am struggling more than you. My point was NOT to say that I am living the most threadbare existence possible. Not at all.

I hope you see a yeshua soon.

amother

↑ Chestnut ↓

Wed, Dec 18 2024, 2:04 pm

amother Cyclamen wrote:

You are paying half the amount of tuition she does. That's the point. Higher earning working ppl don't get tuition breaks and therefore don't come out ahead of lower earners. Are you paying full tuition?

amother

↑ Cyclamen ↓

Wed, Dec 18 2024, 2:08 pm

amother Chestnut wrote:

Yes paying around 600 each for elementary schools in Lakewood and playgroup. No discounts.

amother

↑ Chestnut

Wed, Dec 18 2024, 2:10 pm

amother Cyclamen wrote:

Yes paying around 600 each for elementary schools in Lakewood and playgroup. No discounts.

So your lucky tuition is lower where you live. Op isn't being wasteful paying tuition for her kids.

amother

↑ Daphne ↓

Wed, Dec 18 2024, 2:10 pm

amother Chestnut wrote:

I also don’t see health insurance on the list

Or daycamp

amother

↑ OP ↓

Wed, Dec 18 2024, 2:12 pm

amother Cyclamen wrote:

You say that your breakdown shows it’s doable but your expenses are not realistic for most families.

When did you buy your house? Virtually impossible to get a $3,500 mortgage these days unless it’s for a 2 bedroom on yehupitzville.

Your utilities are extremely low. Your tuition (approx $7,000/kid) is very low compared to monsey or Brooklyn.

You don’t mention health insurance or medical expenses. Do you get for free?

You have 4 kids, average in town frum family has more.

amother

↑ OP ↓

Wed, Dec 18 2024, 2:13 pm

amother Chestnut wrote:

The crazy thing is I am getting tuition breaks! Full would be $12k per kid and I’m paying $10k!

amother

Pearl

Wed, Dec 18 2024, 2:13 pm

amother Cyclamen wrote:

My tuition out of town with four kids is literally more than double urs
Your mortgage is only doable if you bought 8 or so years ago which we bh did
There's is absolutely no way food can cost 1k where I live unless your getting food stamps
What about health insurance ? That's 1500 a month for us
Sorry but these numbers don't apply to many people
Op I'm with you .... 300 doesn't leave you with luxuries especially if u live in an expensive housing area