$1,000 or less per month

I have a rental property that I own free and clear that is about 1 mile from my office. It was the first home I owned out of college. If I moved there I could live on $2,500 or less per month. I need a little more because I buy our own health insurance and it costs us $758 per month. If I was really trying to live super-spartan, I could probably do it for $2,000 or less but a man can only eat so much spam.

That is what my wife wants to do so (she says) I won't have to work so hard and I can come home for lunch everyday. Problem is that I really don't work that hard overall (I do work hard for a couple of months) and who says I want to come home everyday for lunch. Maybe later when I am an old(er) man.

[Sophie]

my great aunt and I combined (granted, I don't work a lot of hours) don't enough money to spend $1,000 a month. I think she brings in around maybe 11 K a year and I might make $1,000 in a year.

I have no credit cards but she has a LOT of debt just so she can pay the bills and get food.

I'd LOVE to be able to actually limit what we spend instead of having to spend more than we make.

[MAURER]

where i live in nj, its hard to find a 3 bedroom house for under a million. it sucks, i have had several friends move away because the prices are making it really tough for people to stay here.

[Merrida]

Originally Posted by Lady C

In CA, with house values between $500-700k, it is not unusual to see morgage payments of $3000-4000 per month. Add to school/education, utilities, gas, vacations, etc. I can see how some households need alot more than $1000 per month just to stay above water.

Amen Lady C. We looked at a house, not even in Boston Proper and well, let's say a hell of a commute away. Average house that needed tons of work. $1.2 million. Even if I move to another state, which negates the point, there is no possible way for an average family to live and own a house and eat and take care of kids and pay for education and pay taxes and maintenance and upkeep of a house any bigger than a playpen on $1000 month.

Sure we can live below our means.

Ever hear of health insurance. That alone is over a thousand a month in most cases. I live in MA so remember. Car insurance is $2,000 a year. Let's add that in, and assume most couples have 2 or 3 cars. Cut it to 2 if you want to live below the means thing.

No way. Unless these people eat 99-cent canned soup twice a day and one bowl of generic cereal and don't pay for a gym membership, don't go to a dentist ($$$) or a doctor ($$$) you'll never convince me.

The only way it would work if is the couple worked two jobs and put their kids in with the inlaws. Day care after all runs $400 a week.

Add these numbers up, it's just impossible.

For your example they have to be in the fraction of the percentile to make that work.

.

PS: Not to mention, RENTING a SMALL apartment in the Boston Proper and even if you extend out roughly 40-50 miles away, the average price of rent with NO utilities included at all is $1600/month. So even if you could afford the rent, don't count on light, heat, phone, cable.

This is ludicrous.

.

Life in the fast lane comes at a price Merrida.

Look at the bright side - you get to tell everyone that you are from Baaaaw-ston.

[Merrida]

Originally Posted by pierini

Life in the fast lane comes at a price Merrida.

Look at the bright side - you get to tell everyone that you are from Baaaaw-ston.

My most wonderful Pierini, who I never question or judge, and just love with all my heart and soul,.....

..........get a grip. (I say that with fondness, because I wuv you).

I for one, do not live in the fast lane. I live in Boston, work is good. Looking for places to live 40 or even 50 miles outside you're still looking at astronomical prices. Down the street, only 2 miles, a 3 bedroom apartment that my friend rents is $2200.

Fast lane.

Hmm let's see. No vacation. No shopping. (I don't shop, I hate it, I'm a surgical shopper, and the extent of pleasure, so to speak, I get sticks in the realms of books). No trips. Going out to dinner? Nope, not in over a year.

So my dearest darling Pierini, where exactly do you see that I am living in the fast lane?

Here's one for you, while living in NH,....to get to work took a gas of tank a week out of two cars. We paid $1300 (plus utilities but we did get parking without having to shuffle cars around and PAY for seasonal permits like you do here in Boston or pay 25 cents in the meters for 30 minutes).

Fast lane?

I must have missed it. Really, did I blink? Do you see something I don't?

Lady C has put it accurately and succinctly. Dude my dear, I assume your figures come from some unusual sources.

One cannot possible rent much less buy for anything near $1000/month.

.

[Maxgain]

Originally Posted by Merrida

Amen Lady C. We looked at a house, not even in Boston Proper and well, let's say a hell of a commute away. Average house that needed tons of work. $1.2 million. Even if I move to another state, which negates the point, there is no possible way for an average family to live and own a house and eat and take care of kids and pay for education and pay taxes and maintenance and upkeep of a house any bigger than a playpen on $1000 month.

Sure we can live below our means.

Ever hear of health insurance. That alone is over a thousand a month in most cases. I live in MA so remember. Car insurance is $2,000 a year. Let's add that in, and assume most couples have 2 or 3 cars. Cut it to 2 if you want to live below the means thing.

No way. Unless these people eat 99-cent canned soup twice a day and one bowl of generic cereal and don't pay for a gym membership, don't go to a dentist ($$$) or a doctor ($$$) you'll never convince me.

The only way it would work if is the couple worked two jobs and put their kids in with the inlaws. Day care after all runs $400 a week.

Add these numbers up, it's just impossible.

For your example they have to be in the fraction of the percentile to make that work.

.

PS: Not to mention, RENTING a SMALL apartment in the Boston Proper and even if you extend out roughly 40-50 miles away, the average price of rent with NO utilities included at all is $1600/month. So even if you could afford the rent, don't count on light, heat, phone, cable.

This is ludicrous.

.

You Americans have no idea how easy you have it.
With the huge cost of living in the green isle, car costs health costs house costs food costs and general expenses. I would say im paying out $7000 a month and this is only to primarily support 1 person.
Im sure in US I could nearly half this and my job has an approx equiv wage counting the currency conversion.

[Merrida]

Well Max, I gotta tell ya. As an American, we may be the most powerful country in the world but it doesn't come without a price.

We cannot live for less than $4000 a month and that would be if we didn't want thing like heat, stove, fridge, electricity, or computers. That's if we're running solo in an apartment the size of a refrigerator box.

We don't get socialized medicine. Oooh, that's got to take a chunk of cash away you can divert elsewhere. And again, our families, most with 2 children some with 4-5,...how do you figure we have it easy? Health/hospital costs, pedi visits, doctor visits, ER visits (and don't think insurance covers 100%). Cars, petrol, maintenance.

So unless I live alone in a closet with one or two IKEA pieces to put stuff,...even a toster wouldn't work.

Where do you get your figures?

I could live in a trailer in Tornado Alley. But shucks, where would I work?

Man I would just love to know where you get your figures from.

.

[Merrida]

Originally Posted by Maxgain

.
Im sure in US I could nearly half this and my job has an approx equiv wage counting the currency conversion.

Then stop whining and move over here (LEGALLY) and let's see how far you get. If you can afford $7,000 plus extras all by your onesies, then you'll probably, if you can find the same job, same pay ratio/grade, you'll be doing just skippy.

.

[westside24]

u guys r silly.

heres what I go thru in a month

Rent-470
electric-80
Credit Card-100
Truck-290
Insurance-90
Cell-70
Internet-40
Gas(for vehicle)200
Groceries-250

I dont pay gas for apartment, being its all electric, Andw ater is paid for.

These figures are just what I budget based off my income. I dont always use all of that. well for the gas and groceries anyways. My income is 1800 every 4 weeks based off of 40 hour weeks... but I work alot of overtime...

I think you are doing pretty good. If you get rid of the credit card and truck payment debt then you would only need $1,200 per month, 20% more than my client who does it on $1,000 a month.

Debt-free young man is the ticket to financial security. Chisel away that debt slowly but surely.

[westside24]

Originally Posted by pierini

I think you are doing pretty good. If you get rid of the credit card and truck payment debt

Almost there! got 22months left on my truck, and I have a little under 5000 on one credit card out of an 8000 limit

I bought 2300 dollar rims for my truck, I know dumb, But worth it to me, Plus I put about 1500 on for a few classes at owens c.c. from my ex g/f... I helped her out, because she was a B!!!! and I got screwed.

and then my tattoo... dont even get me started on that... Just remember to SHOP for prices on tattoos. dont just pick the first reputable guy in the city. I paid 1500 for my tattoo... split over 5, 1 hour sessions for 300 each. everyone told me he was the best, my aunt told me too. hes not, I see so many really bad flaws in my design not to mention a billion other tattoo artists have told me they wouldve done it for half that price or even less. I found some one way better since then, now I just got to encourage myself to spend another 300 to let him fine tune mine and add more to it.)

Well I'm going to retract my previous statement that you are doing good after you revealed some of the details making up your credit card debt. You have some financial maturing to do.

Each of those purchases should have been a cash transaction; in other words, if you can't afford to pay cash for them, then save up until you can. You'll figure it out sooner or later as you are still young and hopefully coachable.

[westside24]

Originally Posted by pierini

Well I'm going to retract my previous statement that you are doing good after you revealed some of the details making up your credit card debt. You have some financial maturing to do.

Each of those purchases should have been a cash transaction; in other words, if you can't afford to pay cash for them, then save up until you can. You'll figure it out sooner or later as you are still young and hopefully coachable.

haha! I just wanted you to know the truth... But believe me... besides my rims, I do regret the other things. I did not think my ex and me would ever break, we were together for a year and half, I was just naive I guess... Ive done this along time ago, I got the rims 3 years ago, I got the tattoo 4 years ago, so yes, ive done alot to correct my mistakes. luckily ive only had 3 late payments on anything ever in my life, and I have a good credit score of 720-712- and 715.

but like you n me said. i was young and financially immature. Ive grown alot since then I believe, I had a bigger debt than that. Not to mention my little 5000 dollars worth of debt aint nothing compared to millions of irresponsible young adults out there.

[Maxgain]

Originally Posted by Merrida

Well Max, I gotta tell ya. As an American, we may be the most powerful country in the world but it doesn't come without a price.

We cannot live for less than $4000 a month and that would be if we didn't want thing like heat, stove, fridge, electricity, or computers. That's if we're running solo in an apartment the size of a refrigerator box.

We don't get socialized medicine. Oooh, that's got to take a chunk of cash away you can divert elsewhere. And again, our families, most with 2 children some with 4-5,...how do you figure we have it easy? Health/hospital costs, pedi visits, doctor visits, ER visits (and don't think insurance covers 100%). Cars, petrol, maintenance.

So unless I live alone in a closet with one or two IKEA pieces to put stuff,...even a toster wouldn't work.

Where do you get your figures?

I could live in a trailer in Tornado Alley. But shucks, where would I work?

Man I would just love to know where you get your figures from.

.

My point is simply your cost of living is actually lower for the basics.
Food is a huge expenditure for me about e200 ($300) a week. I have seen the costs in your costcos and walmarts it would be less than 150 for same in US.
Supplements clothes etc, I try to but from US on net. Even with huge carriage charges and if i get hit for 33% customs and tax (yet to get hit thank God) it still works out cheaper than buying in Ireland.

Before the recent slump in housing which still is only about a 10% priced reduction its $450,000 for an house $750,000 for anything half decent.

My tax rate is 46%.

We have free public health yet i like 53% of people pay for insurance which for me only covers hospital. still pay doc fees and over $1500 year on meds.

My car cost $30,000 which Im paying off. In the US an equiv would be sig less

Petrol at mo here is $1.80 per litre. What do ye pay?

Then all the bills, electricity is dearer, phones dearer,

Its an incredibly expensive country.

Why do ye thin every Christmas people pack planes with empty suitcases and go over to US cases brimming when coming back