User Panel
User Panel
User Panel
|
Posted: 2/3/2019 6:31:11 PM EDT
[#1]
Quote HistoryQuoted:
And what do you do when you're not working, sit in a chair, put on your sunglasses, and turn out the lights? Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
I live on about $1000 a month. |
|
|
|
Posted: 2/3/2019 6:38:38 PM EDT
[#2]
Quote HistoryQuoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of. It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing. I'll admit it's easy to burn through a lot of money without realizing it. I was that way once. Wife and I now live on less than $45k per year and that includes raising kids. We are debt free, which took like 5 years to get everything including the house paid off. Now we save like 50% of our take home income primarily via 401k and ira. With $175k a year you could honestly be looking at retiring decades early if you cut out the wasteful spending. Do you want to buy plast crap and work until 65 or be happy with what you have and retire by 50? |
|
|
|
Posted: 2/4/2019 12:23:22 AM EDT
[#3]
I don't make 6 figures, but close to it.
Live in a very modest little house with 6 acres and a smallish mortgage. I was forced to buy a new car for commuting nearly 160 miles of rural roads every day - got a little Kia Soul instead of the much nicer options out there. I barely make ends meet. The killers for me are debt, utilities and insurance. The house was built in 1920 and has effectively no insulation. It's a work in progress. Our electric bill runs between $400 and $600 depending on the season. The one splurge I have is the cell phone bill. That sucker is going to get cut down to size pretty soon here. It's just unacceptable to spend that much on phones. With that said, my 2 disabled parents (spinal issues for my dad and severe arthiritis on my mom) and my mentally disabled sister, all live with me. As well as my wife (for now) and my daughter. I pay the co-pays, groceries and all that. Wife is only now starting to bring in money with real estate. So it's been a challenge. Through all of that, I was still able to put some money away (not much), do a bit of prepping. No movies, restaurants, cable tv, bikes or boats for us. About the only entertainment we have is weekend grill nights and a bottle or 2 scotch (kirkland) a month. The grilling is cheap. We already have the meat and veggies and no friends come over - it's just us lot. Now for the debt. I've started a debt snowball. Here's a very handy calculator. I'm not spending any additional funds on paying off debt, just prioritizing it a bit and snowballing it. According to this calculator - if I stick to the plan, I'll be debt free (including the mortgage) in 5 years. I'm 40 now - once the mortgage is paid off, I'm putting every damn penny I can into my IRA, PM's and improving this property. I am broke as hell at the moment. I drive a 2010 F150 and a new Soul (hated going into debt for it, but had no choice). Money does flow like water and it's difficult to control it when you've got a bunch of people to take care of and all of them needs something new every damn day. Oh and as mentioned, learn to fix shit. I replumbed the entire house myself using PEX. Front to back. Working on the electricity now. |
|
|
|
Posted: 2/4/2019 12:46:21 AM EDT
[#4]
This thread turned into people bragging about not living paycheck to paycheck as I expected it would.
It also reaffirmed my feeling is that yeah, I could save a lot more and sock more away for retirement and savings but I'm alive now so I'm going to enjoy it now. I don't want to drive an old POS or eat beans for every meal. My 401k is just fine, my savings account can get me out of a jam, I'm going to keep going on rafting trips and going to races and long weekends at the beach and eating out a lot because I can and it makes me happy now. I could die tomorrow and be satisfied with what I have and what I've done. |
|
|
|
Posted: 2/4/2019 3:47:31 AM EDT
[#5]
Racking up too much debt trying to get more out of life, instead of being humble and thankful.
$25k in credit cards, most of which was on renovations on the house because we were trying to get licensed to adopt (we can't have kids) I owe $24k in student loans, wife has about $60k in student loans. I just went from making $37k/year to $46k/year with my latest raise. She's been making about $35k (but our healthcare is taken from that, $5k). She's looking at a $15k/year raise if she completes here level 2 license (teacher). Mortgage is modest. $65k total, about $57k left to go. I have an important interview next week, if that doesn't pan out I want to get a 2nd job. I've been doing some 3D modeling/product design for a few folks on the side, but I've made no money. It either ends up not being a viable product or they just "cant" pay me. I don't feel right taking money up front. All of it is on me. I need to work harder at it and focus. |
|
|
|
Posted: 2/4/2019 5:39:58 AM EDT
[#6]
Quote HistoryQuoted:
I don't think it's a "filet mignon and lobster every night" level of spending. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
$450/mo in groceries? Is your family eating filet mignon and lobster every night?  |
|
|
|
Posted: 2/4/2019 7:39:29 AM EDT
[#7]
Quote HistoryQuoted:
This thread turned into people bragging about not living paycheck to paycheck as I expected it would.  Attached File |
|
|
|
Posted: 2/4/2019 7:42:33 AM EDT
[#8]
Quote History[b]
I have an important interview next week, if that doesn't pan out I want to get a 2nd job. I've been doing some 3D modeling/product design for a few folks on the side, but I've made no money. It either ends up not being a viable product or they just "cant" pay me. I don't feel right taking money up front. All of it is on me. I need to work harder at it and focus. If you need to look for a 2nd job, go to Rat Race Rebellion...legit work from home jobs. My wife got a job with their help a while back...great folks. I'll be looking for a 2nd job as well soon. Got to break the cycle. And yes, it's all on me as well. |
|
|
|
Posted: 2/4/2019 7:46:36 AM EDT
[#9]
Quote HistoryQuoted:
I'll be honest...if the truck breaks, I'm going to have to get creative to pay for the repairs. Bills will have to be moved around to pay fir it. I'm living paycheck to paycheck as far as that's concerned. My oldest daughter (despite our best efforts) got herself pregnant and depleted our rainy day cash. Talk about a shock to the system. Won't trade that baby for anything though! https://www.AR15.Com/media/mediaFiles/85183/received_387246452061763_jpeg-832976.JPG Quote HistoryQuoted:
Quoted:
This thread turned into people bragging about not living paycheck to paycheck as I expected it would. https://www.AR15.Com/media/mediaFiles/85183/received_387246452061763_jpeg-832976.JPG |
|
|
|
Posted: 2/4/2019 7:51:38 AM EDT
[#10]
Quoted:
Racking up too much debt trying to get more out of life, instead of being humble and thankful. $25k in credit cards, most of which was on renovations on the house because we were trying to get licensed to adopt (we can't have kids) Pay off the CC debt, and realize that adoption is very expensive from what I hear from friends who have gone that route. One friend chose to go to Romania to get a kid because it was cheaper than adopting an American kid. How fucked up is that? I owe $24k in student loans, wife has about $60k in student loans. And you are in the process of adopting? Kids aren't cheap, especially adopted ones. I just went from making $37k/year to $46k/year with my latest raise. She's been making about $35k (but our healthcare is taken from that, $5k). She's looking at a $15k/year raise if she completes here level 2 license (teacher). What is your degree in? Your stated pay rate seems low, unless you are stating after tax salary amounts. Mortgage is modest. $65k total, about $57k left to go. You spent $25K renovating a $65K house? Seems like you just bought this house not too long ago, why didn't you look at $90K houses that didn't need upgrades? I have an important interview next week, if that doesn't pan out I want to get a 2nd job. I've been doing some 3D modeling/product design for a few folks on the side, but I've made no money. It either ends up not being a viable product or they just "cant" pay me. I don't feel right taking money up front. This right here is your biggest weakness. No matter what the job is, once they give you a scope of work, your compensation gets discussed next. By what you've stated above, you don't have the ability to be generous with charity work. All of it is on me. I need to work harder at it and focus. |
|
|
|
Posted: 2/4/2019 7:57:39 AM EDT
[#11]
Quote HistoryQuoted:
I'll be honest...if the truck breaks, I'm going to have to get creative to pay for the repairs. Bills will have to be moved around to pay fir it. I'm living paycheck to paycheck as far as that's concerned. My oldest daughter (despite our best efforts) got herself pregnant and depleted our rainy day cash. Talk about a shock to the system. Won't trade that baby for anything though! https://www.AR15.Com/media/mediaFiles/85183/received_387246452061763_jpeg-832976.JPG Pregnancy doesn't "just" happen. Who is the father? What recourse are you or your daughter pursuing against him? He's responsible as well. |
|
|
|
Posted: 2/4/2019 7:59:26 AM EDT
[#12]
Quote HistoryQuoted:
This thread turned into people bragging about not living paycheck to paycheck as I expected it would. It also reaffirmed my feeling is that yeah, I could save a lot more and sock more away for retirement and savings but I'm alive now so I'm going to enjoy it now. I don't want to drive an old POS or eat beans for every meal. My 401k is just fine, my savings account can get me out of a jam, I'm going to keep going on rafting trips and going to races and long weekends at the beach and eating out a lot because I can and it makes me happy now. I could die tomorrow and be satisfied with what I have and what I've done. I would venture to say that most likely 99% of the members here at one time in their lives lived paycheck to paycheck. I certainly did in my younger years of accumulating things like a house and non beater vehicle ETC. Just watch extravagant unnecessary spending and set back some money every paycheck. |
|
|
|
Posted: 2/4/2019 7:59:32 AM EDT
[#13]
Quote HistoryQuoted: I'm not a kid person but that is a cute baby. Now the new son in law...that sonofabitch better whatch out...asshole. GD has been amazingly non judgy in this thread. Makes me glad I re-upped my.membership! |
|
|
|
Posted: 2/4/2019 8:05:47 AM EDT
[#14]
Quote HistoryQuoted:
are you handy? i bought brake pads and rotors from amazon for $75. would have been $500 at the dealership. doing things yourself really saves $ Quote HistoryQuoted:
Quoted:
Wife and I grossed $175k last year of which, after you figure in retirement, daycare, mortgage, healthcare, etc. We bring home $44k/yr that we live off of. It blows my mind how we can make so much money and have so little. I have tried to figure out where it all goes but I swear it just disappears. New tires here, dance class there, brakes are fucked, need new gutters, lawn mower blew up, cars burning oil. Fuck me. We can barely save $2-300 a month if were lucky without something screwing up that needs fixing. |
|
|
|
Posted: 2/4/2019 8:08:34 AM EDT
[#15]
Quote HistoryQuoted:
I earn less than $20k a year and I live pretty comfortably alone even here in Commiefornia of all places. Life is cheap and easy when you live a quiet, minimalist lifestyle. If you live alone and are still broke, you really, really need to take a long, hard look at your lifestyle. There's just no excuse for it, life is cheap and simple without a family to have to support. Goodbye, Things: The New Japanese Minimalism https://www.amazon.com/dp/0393609030/ref=cm_sw_r_cp_api_i_-RcwCb0D2XYYW |
|
|
|
Posted: 2/4/2019 8:11:52 AM EDT
[#16]
Quoted:
Our electric bill runs between $400 and $600 depending on the season. |
|
|
|
Posted: 2/4/2019 8:15:08 AM EDT
[#17]
Quote HistoryQuoted:
Per month? Damn. The 2 trips to Africa in 2018 did NOT help the budget, but had to be done...funerals. |
|
|
|
Posted: 2/4/2019 8:27:34 AM EDT
[#18]
Quote HistoryQuoted:
$450/mo in groceries? Is your family eating filet mignon and lobster every night? Quote HistoryQuoted:
Quoted:
Stay at home wife, 3 kids, one is autistic. I make about 55-65k/yr depending on OT. 800$ rent 400$ speech therapy 250$ gas electric 450$ groceries 130$ car insurance thats just what i can think of as far as monthly bills. Im going back to school for an associates degree in OSHA. I hope to increase my income by atleast 10-15k/yr after im done. Using Walmart price lobster tail is $16.54 each. Assuming each family member eats one (we will assume his three kids are all teens) that is $82.70/night just in lobster. Now a 6 oz filet mignon at Walmart is $7.99, and assuming each person eats one as well that is $40/night. Combined that is $122.70/night, and would be $3,803/month if his family of five ate filet mignon and lobster tail every night. And to be generous let's say they all share, or his kids aren't ravenous teens that eat you out of house and home, so only half the amount it's still $1,901/month. So be quiet and let the adults talk, because your asinine comment shows you have no clue how much food cost, especially to feed a large family. |
|
|
|
Posted: 2/4/2019 8:36:50 AM EDT
[#19]
 Attached FileI love being single and unattached. edit: I was 1 car problem away from not being able to pay any bill. About a grand in the bank, and only making $9 an hour. My monthly take home was $1100 or so. I was lucky and got a contracting job just after my divorce was finalized (which thankfully she paid for half of), and took off to the middle east. No kids, and only one credit card with hardly anything on it, and no taxes to pay. I've been able to put away a solid amount as a result. I got very lucky. My advice to those broke, ditch the Iphones and get a dumb contractless tracfone. $150 will get you a phone and a year of service. Also, I know they're family, but give the pets away to a friend. They're fucking expensive to maintain. Shut your lights off and try to use the AC and heat as little as possible. Make rice your friend, and get a crock pot to make a large batch of food that you can freeze. Cut out cable or dish, and if you can do without internet, get rid of that too. If not, get the cheapest most basic plan. |
|
|
|
Posted: 2/4/2019 8:40:30 AM EDT
[#20]
Quote HistoryQuoted:
Family of 4 here. We spend every bit of $1000/month between Walmart/Costco/Albertsons. 90% of that is for food and the rest is TP and soap and cleaners and other randomness. $450/month for food would be a $5k raise for me. Quote HistoryQuoted:
Quoted: $450/mo in groceries? Is your family eating filet mignon and lobster every night? $450/month for food would be a $5k raise for me. We spend $1,500/mo at what I've labeled the Aldis/Walmart/Target budget line item. This includes food, toiletries, feminine hygiene stuff, cleaning supplies, paper towels, pet products, occasional shirt or shoes, school supplies, occasional birthday present, etc. The food budget also shot up significantly recently when my wife started the keto diet. Since my daughter recently got her period my household goes through a mega roll of toilet paper per day, and I swear someone in my house is eating paper towels we go through them so fast. |
|
|
|
Posted: 2/4/2019 9:11:58 AM EDT
[#21]
Quote HistoryQuoted:
LOL I wish we were eating that good. I buy the manager special meats, I buy the store brand products for the most part. the kids can sure shovel the shit down. I shoot aleast one deer a year, that does help. The 450$ also includes things like TP, and cleaning supplies. I could purchase choice cut t-bone or ribeye steaks in California on sale monthly for $5.99/pound, sometimes less. Here in Wisconsin, surrounded by beef cow farms, the chain grocery stores sell choice cut t-bones and ribeyes for $12.99- $14.99/pound, and the sale price is typically $9.99/lb. Once every few months it drops to $8.99/pound on sale, and maybe twice per year they will have the stuff expiring in a day or two on on sale for $6.99/lb. Can't get much fish here but a farm-raised salmon filet is $12-$14/pound. Can find it on sale sometimes for a buck less per pound. Point being, if you regularly want red meat or fish in your diet your monthly grocery bill may cost you a lot more depending on where in the nation you live. |
|
|
|
Posted: 2/4/2019 9:18:19 AM EDT
[#22]
Single income...gross under $50k/yr.
I still live at home and pay rent. I ran the numbers, and if I bought a house today, I'd be rolling change to make ends meet. I don't want to be completely house poor. You people with 2 incomes got it made.... I was stupid when I was younger (post-HS years). Instead of saving every penny I made to buy a house, I blew it on ATV's, motorcycles, tools, guns, and trucks. I'm still stupid, as I bought a couple new trucks over the past few years. I don't live quite paycheck-to-paycheck these days...but I can't just go out and buy anything I want. I'm trying to save as much as I can...got about $7k between my accounts, though some of that will be put towards getting another truck back on the road this year. I'm also going to try to sell as much crap as I can that I don't use anymore to fund it. |
|
|
|
Posted: 2/4/2019 9:21:39 AM EDT
[#23]
Quote HistoryQuoted: We get 50-75% of our food at Aldis also. Not meat but a lot of other stuff. |
|
|
|
Posted: 2/4/2019 9:30:56 AM EDT
[#24]
Quote HistoryQuoted:
Time for cheaper rent, cheaper cars and paying yourself first. Quote HistoryQuoted:
Quoted:
Between the woman and I, we make about 150k which in the area is significant. Because of student loan debt and car payments, rent and taxes(theft) we are barely skating by. Plus, we want a house but it's hard to save anything when rent is $1500 student loans and car payments and credit cards from college days are all still around. |
|
|
|
Posted: 2/4/2019 9:31:38 AM EDT
[#25]
Quote HistoryQuoted:
My wife regularly shops at Aldis. IMO you have to be very cautions with their meats. Often enough it is old(er) and borderline bad. She stopped buying meats at Aldis because she got tired of returning it, and this happened at all three stores she visits. |
|
|
|
Posted: 2/4/2019 10:13:16 AM EDT
[#26]
Quote HistoryQuoted:
Meat prices can vary significantly depending on where you live. Boneless/skinless chicken is fairly cheap everywhere, but red meat and fish can be very expensive is some parts of the nation. When my wife and I moved from California to the upper Midwest we naively thought we would be eating steak every night since there are beef cow farms everywhere near us. Newp. Beef prices are significantly higher here than what we paid in California. I could purchase choice cut t-bone or ribeye steaks in California on sale monthly for $5.99/pound, sometimes less. Here in Wisconsin, surrounded by beef cow farms, the chain grocery stores sell choice cut t-bones and ribeyes for $12.99- $14.99/pound, and the sale price is typically $9.99/lb. Once every few months it drops to $8.99/pound on sale, and maybe twice per year they will have the stuff expiring in a day or two on on sale for $6.99/lb. Can't get much fish here but a farm-raised salmon filet is $12-$14/pound. Can find it on sale sometimes for a buck less per pound. Point being, if you regularly want red meat or fish in your diet your monthly grocery bill may cost you a lot more depending on where in the nation you live. ETA: I have bought Aldi fresh hamburger and it seemed OK but it did have a "different" taste to it. Ol' Lady has discouraged me from buying Aldi meat. And I've discouraged her from buying WalMart meat. |
|
|
|
Posted: 2/4/2019 10:16:01 AM EDT
[#27]
Quote HistoryQuoted:
Single income...gross under $50k/yr. I still live at home and pay rent. I ran the numbers, and if I bought a house today, I'd be rolling change to make ends meet. I don't want to be completely house poor. You people with 2 incomes got it made.... Quote HistoryQuoted:
Single income...gross under $50k/yr. I still live at home and pay rent. I ran the numbers, and if I bought a house today, I'd be rolling change to make ends meet. I don't want to be completely house poor. You people with 2 incomes got it made.... For example, before kids my wife and I could fly back to California to visit my folks for $500 (two tickets and we would stay at my parents home on the couch). Now with two kids (which means paying a little more to select seats) it's easily $1,500 in airfare for the four of us, and another $1,500 for a hotel with two beds for a week (parent's home isn't large enough for us all). But having kids was our choice, and so are the financial burdens (and trust me, they are hefty) that come with it. Also, comparing a two-person household income and a single-person household income isn't a good comparison, to some degree. Sure your household income is more but then you need more stuff and pay a lot more for stuff, after all it's two people we are talking about not just one. For example, my wife and I (both work full time) grossed $153k last year, but our net pay was $98k. Don't get me wrong $98K net household income is a nice chunk of change, but if you think of it as each individual netting $49k off a $77k gross income it doesn't seem as rosy. Quoted:
I was stupid when I was younger (post-HS years). Instead of saving every penny I made to buy a house, I blew it on ATV's, motorcycles, tools, guns, and trucks. I'm still stupid, as I bought a couple new trucks over the past few years. |
|
|
|
Posted: 2/4/2019 12:58:11 PM EDT
[#28]
Quote HistoryQuoted:
Quoted: Racking up too much debt trying to get more out of life, instead of being humble and thankful. $25k in credit cards, most of which was on renovations on the house because we were trying to get licensed to adopt (we can't have kids) Pay off the CC debt, and realize that adoption is very expensive from what I hear from friends who have gone that route. One friend chose to go to Romania to get a kid because it was cheaper than adopting an American kid. How fucked up is that? I owe $24k in student loans, wife has about $60k in student loans. And you are in the process of adopting? Kids aren't cheap, especially adopted ones. I just went from making $37k/year to $46k/year with my latest raise. She's been making about $35k (but our healthcare is taken from that, $5k). She's looking at a $15k/year raise if she completes here level 2 license (teacher). What is your degree in? Your stated pay rate seems low, unless you are stating after tax salary amounts. Mortgage is modest. $65k total, about $57k left to go. You spent $25K renovating a $65K house? Seems like you just bought this house not too long ago, why didn't you look at $90K houses that didn't need upgrades? I have an important interview next week, if that doesn't pan out I want to get a 2nd job. I've been doing some 3D modeling/product design for a few folks on the side, but I've made no money. It either ends up not being a viable product or they just "cant" pay me. I don't feel right taking money up front. This right here is your biggest weakness. No matter what the job is, once they give you a scope of work, your compensation gets discussed next. By what you've stated above, you don't have the ability to be generous with charity work. All of it is on me. I need to work harder at it and focus. In hindsight I should have bought a 90-100k home, but I was afraid to commit to a larger number than what I did buy at. I was also making maybe $26k/yr when I was applying for a loan. My degree is a Bachelors of Criminal Justice, I wanted to go into Electrical Engineering, but was convinced otherwise by family. I've never worked in the CJ field. I've been in manufacturing my entire life, and spent the last 8 years doing CAD work and product development. At first it was what I did to get through until I graduated, but it appears that I stand to make more by staying in the field I'm in. I currently only work 4 days a week, which leaves me with time for a 2nd job. I spent nearly every Friday/Saturday of 2018 "helping" a friend get a business off the ground (covering all of his machining and CAM needs) at what ended up being zero pay. It was always "Hey, fmj_shooter, we gotta meet up and settle what I owe you for blah blah blah." Only for him to never be able to make the meeting happen. I've finally cut all the freebie work out of my life in December. I'd rather not work than do it for free anymore. You're right about that being my biggest weakness, it's hindered both my finances and my home life. Point is, I got myself in the situation I'm in. Part of doing better financially is making myself better. I packed my lunch for the first time last night after reading a bunch of this thread.  I've always spent way too much money eating out for both lunch and 3-4 dinners a week for the wife and I. That has always been a huge problem, we've tapered off quite a bit, but I need to cut it off completely.
And thanks to all who've shared their stories and insight. |
|
|
|
Posted: 2/4/2019 3:11:43 PM EDT
[#29]
Never did make a mint but stayed working until I was forced into retirement (disability), don't hate me I didn't ask for it and we have our own insurance, wife works for that and not much else. We live happy with what we have even if it needs work or don't look the best because we have had less. We use cash or we don't get it, no welfare, no credit card, no loans and no debt besides deductibles and monthly bills. Just had another problem fixed and am very thankful for the insurance that we have even if it isn't the best. This unit was just changed out, it was a tad over $42k.
 Attached File |
|
|
|
Posted: 2/4/2019 3:15:58 PM EDT
[#30]
Quote HistoryQuoted:
My wife regularly shops at Aldis. IMO you have to be very cautions with their meats. Often enough it is old(er) and borderline bad. She stopped buying meats at Aldis because she got tired of returning it, and this happened at all three stores she visits. Also, she stopped buying boneless/skinless chicken from Aldis because the texture was off, like it was rubbery and chewy (we also noticed this occurs often with chicken from Walmart). We haven't had any of these issues with red meat or chicken purchased from the local chain grocery stores. |
|
|
|
Posted: 2/4/2019 3:28:17 PM EDT
[#31]
GF and I bring home roughly 140k a year combined - 26, no kids, 1 dog. Living in one of the most expensive areas in the country takes a big chunk out of your paycheck. I havent bought a gun in almost a year
feelsbadman.jpg |
|
|
|
Posted: 2/4/2019 3:39:59 PM EDT
[#32]
People crack me up . This is the land of opportunity .
I mean I don’t make a ton but I don’t live pay ck to pay ck . For Christ sake stop the coffee house runs and start cooking at home . If you can’t afford dance class than don’t sign you or ur kid up for it . If they want it let them earn the money . Baby set . Mow lawns , paper route etc . I haven’t used a credit card in years and my vehicles are all paid off . Stop taking out loans for everything under the sun . And do I even wanna ask why you can’t sell anything ? How about cutting off the inter net and cable tv ?. Live within your means . |
|
|
|
Posted: 2/4/2019 3:41:20 PM EDT
[#33]
Quoted:
I have never made more money in my entire life nor have I ever felt so broke. $3k credit card, and mortgage, and electric, and kids dr appt's @ $100/pop. Wants like a ccw pistol, a motorcycle, a new sliding glass door, or new windows just arent in the near future. Can't sell anything. Can't downsize. having 3 dependents really sucks it out of you. Why are you broke? |
|
|
|
Posted: 2/4/2019 3:45:39 PM EDT
[#34]
Divorced dad. The first time I emptied my savings account its because a doctor had convinced me and my (ex)wife that he could cure our daughter's blindness and mental retardation through stem cell treatments. 20k later it didn't work, so he offered us a second treatment free that also didn't work. I built that savings back up, and then lost it all going through divorce. Left my ex all the furniture, finished paying off her car, paid her rent for 1.5 years while I lived in my mom's. Now I live in a 1 bedroom apartment which was the cheapest I could find on Long Island that was satisfactory. Most 1 bedrooms go for around 1400-1600. The only way I was able to get my ex to sign the divorce papers was giving her slightly over what NYS law said I should pay. But now I took a pay cut and make less, but the courts say it's based off my "earning potential", not what I actually earn. So she gets 20% of my income. After that 20%, my rent, electric, internet, car insurance, health and dental insurance, and life insurance (which was required as part of the divorce agreement) I'm pretty much living pay check to pay check. I can afford to shoot about 250 rounds of 9mm twice a month, and every other month I shoot about 150 rounds through a rifle because that's all the ammo I can afford. Cost of living is high, I dropped out of college when I had my daughter at 19, the fact she was born with a disability didn't make it easy to find alternative work. I would really like to start looking to move out of NY within the next 5 years, my daughter will be 18 in 3 years, child support will be finished when she's 21 so that will greatly reduce my expenses, just haven't the foggiest how to find work out of state before I move.
|
|
|
|
Posted: 2/4/2019 3:51:32 PM EDT
[#35]
I have been poor in my life and I have been fairly well off.
I highly recommend being well off if you have the means. I have a six figure retirement income with a good 401K in reserve, no mortgage, no credit card debt to speak of and no other high outstanding debts and I still mostly spend all the money I get each month and sometimes wish I had more. However, my wife and I are just as happy now as we were when we first got married in 1971 and was living on her $5K a year teacher's salary and my GI Bill going to college. We are just as happy now as in the years before our retirement when our income was in the top 2%. Most families adjust to their income. Just don't spend more than you have coming in. |
|
|
|
Posted: 2/4/2019 3:59:03 PM EDT
[#36]
Quote HistoryQuoted:
I'm broke because I'm a dumbass. |
|
|
|
Posted: 2/4/2019 4:22:16 PM EDT
[#37]
Quote HistoryQuoted:
If you're making less than median income, I recommend developing a plan that will increase your income over the next few years. If you're making a decent amount more than median income, it's time to really start looking for ways to cut expenses. . We'd spent years working and paying for her college as we went. Six months after she graduates and doubles our income, she was disabled in a car wreck. It was really cool during those six months...put the kids in karate/dance classes, actually got to go out to eat in restaurants and took the wee ones to see the beach for the first time in years. That first Christmas had me low. Could barely afford the meager gifts for my family. The normal overhead and new medical bills were rough.OP, I started digging out after that. First week of that New Year, I determined that my children would have a decent Christmas next year. I secreted away $25/week. Another $30/week to build an emergency fund. I also did side work and still did all my own repairs and construction. The next year was a repeat, but I started killing the small debts that nibbled my pay. This was way before I'd ever heard of Dave Ramsey. The thing is not spending more than you make and keeping an eagle's eye on every cent. Also grabbing extra income where possible. You buy individual Cokes out of the vending machine at work? Buy a two liter and bring it instead or put homebrewed tea in a thermos. It can be done, but you and the wife have to both be on it together and above board. It about killed me thinking of how much my children were denied during this time, like no proper vacations again, but we squeezed in little trips, like three day weekend camping trips, or stuff like trips to aquariums/museums/festivals. It was another three years before some side money allowed them five days at a beach. |
|
|
|
Posted: 2/4/2019 7:23:59 PM EDT
[#38]
Quote HistoryQuoted:
2017 is 61K HOUSEHOLD income, not individual. My household could live off that but we wouldn't be maxing out multiple retirement accounts or buying new vehicles every few years. Well I would likely work multiple jobs if that was our income but most for some reason refuse to do the needful. https://fred.stlouisfed.org/series/MEHOINUSA646N Quality of life is a balancing act. Working over 40 hours a week is losing time unless you get paid doing what you love to do. |
|
|
|
Posted: 2/4/2019 8:02:27 PM EDT
[#39]
Quote HistoryQuoted:
Yes and no. I think who has it made are the DINKs (Dual Income No Kids) that don't upgrade to a larger home (i.e. they live in the same one-bedroom home/apartment that one of them two owned/rented), or very well compensated people (doctors, lawyers, dentists, high-end professionals in tech, engineering, etc., and successful business owners, etc. - but then those people typically work their assess off for what they have). It's when you get married, have kids, need a larger home in the burbs, etc. that everything can get more expensive thus making it feel like you don't "got it made." For example, before kids my wife and I could fly back to California to visit my folks for $500 (two tickets and we would stay at my parents home on the couch). Now with two kids (which means paying a little more to select seats) it's easily $1,500 in airfare for the four of us, and another $1,500 for a hotel with two beds for a week (parent's home isn't large enough for us all). But having kids was our choice, and so are the financial burdens (and trust me, they are hefty) that come with it. Also, comparing a two-person household income and a single-person household income isn't a good comparison, to some degree. Sure your household income is more but then you need more stuff and pay a lot more for stuff, after all it's two people we are talking about not just one. For example, my wife and I (both work full time) grossed $153k last year, but our net pay was $98k. Don't get me wrong $98K net household income is a nice chunk of change, but if you think of it as each individual netting $49k off a $77k gross income it doesn't seem as rosy. Honestly, that is kinda the time to do it because once you get older, further along in your career, and are probably married with kids you likely won't have the money or time to do it. Quote HistoryQuoted:
Quoted:
Single income...gross under $50k/yr. I still live at home and pay rent. I ran the numbers, and if I bought a house today, I'd be rolling change to make ends meet. I don't want to be completely house poor. You people with 2 incomes got it made.... For example, before kids my wife and I could fly back to California to visit my folks for $500 (two tickets and we would stay at my parents home on the couch). Now with two kids (which means paying a little more to select seats) it's easily $1,500 in airfare for the four of us, and another $1,500 for a hotel with two beds for a week (parent's home isn't large enough for us all). But having kids was our choice, and so are the financial burdens (and trust me, they are hefty) that come with it. Also, comparing a two-person household income and a single-person household income isn't a good comparison, to some degree. Sure your household income is more but then you need more stuff and pay a lot more for stuff, after all it's two people we are talking about not just one. For example, my wife and I (both work full time) grossed $153k last year, but our net pay was $98k. Don't get me wrong $98K net household income is a nice chunk of change, but if you think of it as each individual netting $49k off a $77k gross income it doesn't seem as rosy. Quoted:
I was stupid when I was younger (post-HS years). Instead of saving every penny I made to buy a house, I blew it on ATV's, motorcycles, tools, guns, and trucks. I'm still stupid, as I bought a couple new trucks over the past few years. I am single. I plan to stay that way. I also do not want kids. As to the blue above: I don't quite agree with that. Everything needed in a house with two people is the same as with one person. The only exception I can think of being different is the grocery budget, vehicle maintenance, and maybe a slight increase in the electric bill. Why do you need more "stuff"? Sure...maybe some decor for the house...but what else? And why do you "pay a lot more for stuff" just because a second person is living with you? This might be true with kids vs. no kids...but not when similarly compared. $1000 mortgage $150 electric $150 cable/internet $80 phone $100 household consumables -- on a $50k income OR All of that (slight increase in consumables, electric, water (if you pay for it)) -- on a $90k income No brainer to me |
|
|
|
Posted: 2/4/2019 8:13:40 PM EDT
[#40]
Quote HistoryQuoted:
Needful is subjective. Quality of life is a balancing act. Working over 40 hours a week is losing time unless you get paid doing what you love to do. Quote HistoryQuoted:
Quoted:
2017 is 61K HOUSEHOLD income, not individual. My household could live off that but we wouldn't be maxing out multiple retirement accounts or buying new vehicles every few years. Well I would likely work multiple jobs if that was our income but most for some reason refuse to do the needful. https://fred.stlouisfed.org/series/MEHOINUSA646N Quality of life is a balancing act. Working over 40 hours a week is losing time unless you get paid doing what you love to do. |
|
|
|
Posted: 2/4/2019 8:23:51 PM EDT
[#41]
Credit card bills (high interest) from buying too many guns/mags, and ammo
|
|
|
|
Posted: 2/4/2019 8:26:50 PM EDT
[#42]
Quote HistoryQuoted:
I was ruling out kids in either scenario, as single w/o kids vs married w/o kids...or single w/ kids vs. married w/ kids...both of which is much easier with a second income. I am single. I plan to stay that way. I also do not want kids. Quote HistoryQuoted:
Quoted:
Quoted:
Single income...gross under $50k/yr. I still live at home and pay rent. I ran the numbers, and if I bought a house today, I'd be rolling change to make ends meet. I don't want to be completely house poor. You people with 2 incomes got it made.... For example, before kids my wife and I could fly back to California to visit my folks for $500 (two tickets and we would stay at my parents home on the couch). Now with two kids (which means paying a little more to select seats) it's easily $1,500 in airfare for the four of us, and another $1,500 for a hotel with two beds for a week (parent's home isn't large enough for us all). But having kids was our choice, and so are the financial burdens (and trust me, they are hefty) that come with it. Also, comparing a two-person household income and a single-person household income isn't a good comparison, to some degree. Sure your household income is more but then you need more stuff and pay a lot more for stuff, after all it's two people we are talking about not just one. For example, my wife and I (both work full time) grossed $153k last year, but our net pay was $98k. Don't get me wrong $98K net household income is a nice chunk of change, but if you think of it as each individual netting $49k off a $77k gross income it doesn't seem as rosy. Quoted:
I was stupid when I was younger (post-HS years). Instead of saving every penny I made to buy a house, I blew it on ATV's, motorcycles, tools, guns, and trucks. I'm still stupid, as I bought a couple new trucks over the past few years. I am single. I plan to stay that way. I also do not want kids. Quoted:
As to the blue above: I don't quite agree with that. Everything needed in a house with two people is the same as with one person. The only exception I can think of being different is the grocery budget, vehicle maintenance, and maybe a slight increase in the electric bill. Why do you need more "stuff"? Sure...maybe some decor for the house...but what else? And why do you "pay a lot more for stuff" just because a second person is living with you? This might be true with kids vs. no kids...but not when similarly compared. Welcome to life pal. 
|
|
|
|
Posted: 2/4/2019 8:44:58 PM EDT
[#43]
Quote HistoryQuoted:
$1000 mortgage $150 electric $150 cable/internet $80 phone $100 household consumables -- on a $50k income OR All of that (slight increase in consumables, electric, water (if you pay for it)) -- on a $90k income No brainer to me And women are always freezing cold, so your heating bill just skyrocketed since she will want to keep that thermostat at 72F. She will have her own cell phone, so your cell phone spending just doubled. Also, women use a metric ton of toilet paper and paper towels. That single roll of TP that lasts you a week? Yeah, plan on going through a roll a day sometimes. Your logic on this matter is mathematically sound, but it just doesn't work that way in the real world. If you each spend $45k/year living alone, and move in together, mark my words you will both find a way to continue spending about $45k/year each while cohabitating. |
|
|
|
Posted: 2/4/2019 10:31:14 PM EDT
[#44]
I’m filing a chapter 7 in the next month.... having said that im getting myself setup for the future
|
|
|
|
Posted: 2/4/2019 11:09:03 PM EDT
[#45]
Quote HistoryQuoted:
I’m filing a chapter 7 in the next month.... having said that im getting myself setup for the future Can you give us a little background why you are filing for bankruptcy? Someone else on here who hasn't posted might be at their wits end. Bankruptcy is the right choice for certain people. |
|
|
|
Posted: 2/4/2019 11:12:55 PM EDT
[#46]
Quote HistoryQuoted:
Credit card bills (high interest) from buying too many guns/mags, and ammo Being diligent to ensure its paid off before that 20+% interest hits is the key. |
|
|
|
Posted: 2/4/2019 11:45:07 PM EDT
[#47]
Quote HistoryQuoted:
I used to think exactly the same way. Now, I'm married with two kids. You don't have a girlfriend, do you? Just wait until you move in with your girlfriend or wife. She will want to redecorate this and that, buy matching throw pillows and comforters, get a cat or dog or two, replace that nasty old recliner chair and couch of yours, remodel that boring kitchen, and on and on it goes. Then one day you will want a man-cave with a reloading bench, maybe a workshop, and she will want a garden, so off to the bank you go for a new loan to buy a bigger (and more expensive) home in the burbs or country. And you my friend will think you will put your foot down and put a stop to all this, but at the end of the day you will roll-over and say "yes dear." Then in twenty years you will find yourself on some message board with some young gun bragging about how he will stay single and won't ever have kids and you will find yourself writing a post that says "I used to think exactly the same way, now I'm married with kids..." Welcome to life pal. |
|
|
|
Posted: 2/5/2019 8:13:28 AM EDT
[#48]
Quote HistoryQuoted:
The flaw in your thinking is believing that the woman who moves in with you will suddenly stop all her spending. Assuming you are both living separately and she moves in with you (or vice versa) then your mortgage stays the same but your food bill just increased by whatever she was spending, if not by more, since you will probably be eating better meals together and dining out. Your utilities just went through the roof since you are doing dishes more frequently, more showers/baths, and she will leave literally every light on in every room in the house unless you militantly follow after her and turn them off. Food? She ate food before you met. "Her money" can continue to pay for that. If I eat $400/mo in food, and she ate $400/mo in food while single...when we live together I suddenly have to pay $800 for both of our food...then that means she has $400 that just freed up for other expenses. I did touch on the higher electric and/or water bill....but it's not going to be double. LED's are amazing too. And women are always freezing cold, so your heating bill just skyrocketed since she will want to keep that thermostat at 72F. She will have her own cell phone, so your cell phone spending just doubled. Also, women use a metric ton of toilet paper and paper towels. That single roll of TP that lasts you a week? Yeah, plan on going through a roll a day sometimes. Again...she was paying for a cell phone before you met. If anything, it gets cheaper since she can now join your plan. HVAC? Maybe. This is where you lay down the law and tell her the temp doesn't go over 68* in the winter or under 75* in the summer (this is how our house rules are...women included). TP and paper towels are a drop in the bucket among the total monthly expenses. Your logic on this matter is mathematically sound, but it just doesn't work that way in the real world. If you each spend $45k/year living alone, and move in together, mark my words you will both find a way to continue spending about $45k/year each while cohabitating. If this is true in your household (yeah, kids might throw a curveball), then you need to have a serious financial discussion and lay out a plan. |
|
|
|
Posted: 2/5/2019 8:23:40 AM EDT
[#49]
I’m truly stuck in the middle.
Wife, two kids, nice but reasonable home, two paid for cars and no student debt. Wife doesn’t work, a decision we made a long time ago. I’m an accountant so I’m meticulous at saving. So when I say that I use every penny of my takehome on it means for cash outlay expenses and future obligations. For instance my last roof replacement was $10K so I save $100 a month towards the next replacement 10 years down the line. I’m getting eaten up because of taxes and because I am bankrolling two college educations. I saved what I could but had a lay-off that used some of my savings. Now I’m paying largely out of pocket for the next 8 years. But it’s a priority. The bad part is that I can’t make any more money. My next promotion will put me into the AMT and make it not even worth pursuing. My wife can’t go to work because whatever part time job she’d work would just put us into the AMT. I’m tired and I’m possibly going to be dealing with prostate cancer unless a miracle happens. My biggest worry is being able to keep this all going, this razor’s edge balancing act. |
|
|
|
Posted: 2/5/2019 8:40:17 AM EDT
[#50]
Quote HistoryQuoted:
I used to think exactly the same way. Now, I'm married with two kids. You don't have a girlfriend, do you? Just wait until you move in with your girlfriend or wife. She will want to redecorate this and that, buy matching throw pillows and comforters, get a cat or dog or two, replace that nasty old recliner chair and couch of yours, remodel that boring kitchen, and on and on it goes. Then one day you will want a man-cave with a reloading bench, maybe a workshop, and she will want a garden, so off to the bank you go for a new loan to buy a bigger (and more expensive) home in the burbs or country. And you my friend will think you will put your foot down and put a stop to all this, but at the end of the day you will roll-over and say "yes dear." Then in twenty years you will find yourself on some message board with some young gun bragging about how he will stay single and won't ever have kids and you will find yourself writing a post that says "I used to think exactly the same way, now I'm married with kids..." Welcome to life pal. I live in the 'country' among generations born and raised here. Men are still typically head of the household, and their word goes. I have sat in on conversations between couples ranging from my age (30's) to the elderly, and sometimes my jaw can't help but to drop when the man's fist hits the table and he tells his wife how it's going to be. My best friend built his house with his dad when he was 15-16. His now wife wants to change the layout on the 2nd story because it doesn't have a hallway and is laid out a little weird. She went as far as researching contractors to do the job. My buddy put his foot down and ended that shit quick. Told her if he saw a contractor there, he was divorcing her ass and evicting her. That was 9 months ago and she hasn't said a peep about it since. They have put wood & tile floors down, added an island to the kitchen, and are about to replace all the kitchen appliances...which are 15-year-old units from when the house was built...so about due for it anyways. I can pick examples from nearly every couple I know. I also know some who's wives wear the pants at home, and their word goes. Yes, some home improvements/remodels/new furniture/etc. are to be expected. These things would happen with a single person living alone over time too. But with a 2nd income...all is much more affordable/attainable. |
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
