Our income averages about $47,000 annually. My husband works, and he works every bit of overtime that he can get. I am a sahm. I do get child support for my children I had before I married my husband. Our family consists of 5 people. Our monthly bills average to almost $4,000 a month. We are trying to pay off some of the debt. Two of my children get state medical cards. My child that I have with my husband does not. We save our tax money for her medical, and emergency fund. We have a mortage, truck payment, trash bill, 3 credit cards, electric bill, house phone, cell phone, tv, lot rent, water bill, 2 finance payments, school loan payments, old bill that we are trying to pay off, computer payment(we almost have this paid off), my husband chews and that is almost $200 a month, food for the month (we spent about $800 a month), and gas (about $400 a month), and car insurance. My family is so picky about food. Every night I am making 2 to 3 different dinners. I know alot of people are like I would cook, and if they don't eat it they would starve. Well, my family would, they are really stubborn. I am a vegatarian, my husband a meat eater, and my three kids are just out right picky. Grocery bill could come down, if everyone would eat the same, but thats never going to happen. I have lived off of way less income. But this is how we make it as of now :)
Only a year ago we were living of of $1400 a month with both DH and I working two jobs each and no government assistance. Recently, my husband got his CDL and is now making 42K per year as a truck driver. He's never home, which blows, but I stay busy with the kids and my part-time job that brings in about $1000 a month. We are fortunate to live in a great family-friendly town. We have a free public pool open all summer and the children's museum is free 4 days a month. We also have great parks and lots of inexpensive activites at the convention center.
We own our cars, pay $800/month on our 2bedroom rental, and spend $400 a month on groceries for our family of 4.
I have about 10K in hospital bills because I didn't have insurance when I had my daughter. I'm in the process of becoming a surrogate so I hope to pay off my hospital bills by next year and put a down payment on our first house.
I read people are happiest (in the US) making between 50K-100K a year. Anywhere above and below that and their happiness level drops significantly.
CKLW said:Kudos to all you moms that are working miracles on such tight budgets! I honestly do not know how you do it.
Kudos to all you moms that are working miracles on such tight budgets! I honestly do not know how you do it.
Without disclosing how much we make, we are comfortable, as we both work more than full time. Cost of living here is very high. My mortgage is $4k/mo, we both drive newer vehicles and have some fun toys. But to be completely honest, my work covers expenses such as gas, my truck, my truck insurance, my phone, my laptop and ipads, and other miscellaneous items.
I worked my ass off to get to my position at work, so I never view it as "free" items, but the truth is, all the expenses that they pay for I am able to put that $ into a savings account and other investments, which I am extremely appreciative for.
We are comfortable, but due to where we live, cost of living is really high. We just moved into a new home (and used the proceeds from the sale of our previous home to make our downpayment) but our mortgage is over $2,300/month. Add in fuel, insurance, taxes, etc and we pay almost $700-$1,000 per month in utilities.
We have one vehicle, a truck that DH bought when we tried to get pregnant again (to ensure that everyone would fit in our vehicle) and make payments on that.
We have clawed our way from making $50K a year (combined) when we first met, to paying off all of our student loans (over $70K total) and other miscellaneous debt, to being comfortable now.
That being said, I'm not sure that I have ever had to face what some of you ladies are going thru. You have my utmost respect and admiration for all you do for your children and families.
With paycheck, bonuses and child support I'm bringing in just under 60k gross. About $3500/mo net. I live in the South. It's myself, 2 kids and a zoo. We are literally paycheck to paycheck at the moment. We live modest, but I splurge on private school ($800/mo) (I receive a small tuition break bc of my financial status). I want the best for my kids and I'll do whatever it takes to give them a good education and a good start to life. Our public school system is terrible. 3bdrm 1.5 bath house ($720/mo). 2 cells (not smart phones $100/mo), internet and cable(120/mo). I keep our groceries to $100 a week, car ($160/mo), my college student loans ($160/mo), credit cards and debt I accumulated trying to keep up with tuition ($250/mo) Car insurance, homeowners insurance, pest control and other odd and ends take up whatever is left over. I'm lucky to have all that we need, but at the same time I'd love to be able to go to dinner or the movies or own more that one pair of pants and a couple of shirts.