$1,000 or less per month

[LiftGirl]

I think Mr P makes a good point though. Does it make sense to squirrel all your money away and never enjoy it? No! (I have a friend like this.) But at the same time, does it make sense to work ever harder and ever more hours to buy ever more stuff, ever bigger houses, cars, TVs? Some people work so hard and so much, they've no time to enjoy the stuff their money bought.

There is a middle ground. Learn to live a little below your means and learn to be satisfied even if you're not wealthy. You will be happier by learning contentment.

Have I sort of captured what you're getting at, Mr P?

Bring this one forward to share that I met with an old high school buddy and a client last week and I brought up the subject of how much does it cost to live. He is 54 years old and probably makes the same amount of income as the client I mentioned in my initial post on this thread. He too has his home paid for and does not have any debt.

His reply: now that he is done footing is daughter's college education, no more than $1,000 a month. He has employer-provided health insurance so his medical costs are primarily covered.

Funny thing is that he drives a pickup truck too, just like the other person does. Wonder if I should buy one.

[Lady C]

Mr. P - Ok, I have a question.

I know many people that both parents work, to pay the morgage and private education for their kids, and get nailed for AMT. Are there techniques or ways to get around the AMT or is that just a fact they should be prepared to face?

Move to a state that doesn't have an income tax as taxes get added back for the AMT calculation.

Actually I believe the AMT tax is a measure of prosperity. Think of it as a flat tax for upper income folks because that is what it really is.

Double income professionals, living in California equals AMT for sure.

[Merrida]

I wonder how someone may live on $1000 or less a month if they've got kids, mortgage because their house isn't paid outright, kids to put through school, car payments (because their cars are not paid for), taxes, utilities (if you live in an area where you're often paying to either heat or air condition your home),...

Even renting an apartment, can't be done for under $1500 if you're lucky, so even with roommates (yeah that's an attractive idea),...what about all those people who have bills and don't have everything paid off? Even if they do not do things like vacations, or buy sports utility vehicles or big boy toys, or engage in retail therapy and totally avoid the baubles,....

I sincerely don't get how this can be possible. With those particulars,....how?

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Merrida, the examples given are of those people who have their homes and cars paid for, and have no debt or extraordinary medical expenses, or live in Baaaaaw-ston.

Use these as a guide and adjust accordingly for your situation.

I couldn't do it on $1,000 a month because my health insurance costs me $758 per month and it is growing by the day because I am aging by the day.

I have unofficially figured my spartan living allowance at $2,500 per month if I was willing to move back to a rental property I own, my first home out of college. I'm not ready to do that yet.

[Merrida]

Originally Posted by pierini

Merrida, the examples given are of those people who have their homes and cars paid for, and have no debt or extraordinary medical expenses, or live in Baaaaaw-ston.

Some people come to Baawwwww-ston because of our maaaaah-velous teaching schools so they can get students to do work at a lesser fee,...students who are part of highly regarded educational facilities.

Medical insurance is high no matter where you live. I've lived in Baawww-ston and in Nashua, NH and the prices were not that different (except we didn't have to worry about taxes in NH unless you worked in MA which is what most did cuz the pay in NH sucks donkey giblets). Catch-22.

It would be an interesting study to be done to see what the rest of the world is like, those of who haven't got a house paid off, paying for our cars, our kids (and their dental work),....and not even 6 kids, let's say 2-4 kids.

What sticks in my craw is the baby factories can pump out 4 kids, have no education, and get more money in their pockets to pay for their food, education, new career training, college degree, buy a house,....but the rest of us hard working slobs can't do it.

Something is really wrong with this system.

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[westside24]

Im confused at something...

Even renting an apartment, can't be done for under $1500 if you're lucky

Where does everyone keep comming up with this figure??? like 4 people in this thread have stated that renting cost them an arm and a leg plus 1000 dollars a month....

I pay 470 a month, just plain ole simple, white paint, brown carpet, 2 bedroom, 800 sqft. electric only, good/descent neighbors, right across the street from 2 grocery stores, a Shopping plaza, and down the street from a dozen bars and the gym, and 2 other grocery stores and hotels.... I mean this is a pretty descent neighborhood, alls im trying to say is, I dont have to go to the higher end - medium class, or upper class neighborhoods in order to live...

most apartments around 1000 mark or higher around toledo ohio, are the super high end apartments, with the fricken golf courses and 4-5 star restaurant and bars attached to the complex!

[Merrida]

Originally Posted by westside24

Im confused at something...



Where does everyone keep comming up with this figure??? like 4 people in this thread have stated that renting cost them an arm and a leg plus 1000 dollars a month....

I pay 470 a month, just plain ole simple, white paint, brown carpet, 2 bedroom, 800 sqft. electric only, good/descent neighbors, right across the street from 2 grocery stores, a Shopping plaza, and down the street from a dozen bars and the gym, and 2 other grocery stores and hotels.... I mean this is a pretty descent neighborhood, alls im trying to say is, I dont have to go to the higher end - medium class, or upper class neighborhoods in order to live...

most apartments around 1000 mark or higher around toledo ohio, are the super high end apartments, with the fricken golf courses and 4-5 star restaurant and bars attached to the complex!

Well I come up with that number because that is what the rent market holds and the average rent (on the low side!),....and that would be apartments from the Nashua, NH border down to the outskirts of Boston (where it's closer to $3,000/month,...to RENT!)

The last time I paid under $800/month for rent (plus every flipping utility imaginable), was when I was in college.

I do not live in squallor, but bet your behind I do not live in luxury either. If you go to those big apartment complexes that are a good 40 minutes before you hit a major highway to get to work, (which means, the farther from the major highways, the cheaper the rents will be), the average 1-bedroom rent there is also around $1500.

If I wanted to get several roommates I could probably live for less. The difference between a 1-bdrm (1200) and a 2-bdrm (1500) doesn't make it worth it.

Oil heat is roughly $450 per delivery (and we keep the heat at 58 degrees, just so you don't think I'm a wasteful person,...and if I have a cold, I may spoil myself and put the heat up to 63).

Again, these prices that at least "I" have spouted forth, are NOT in high class 5-star areas. Those, as mentioned, count on $3,000/month (1 bedroom).

And again, keep in mind I am not living in plush downtown Boston, and for a while, when I first joined DF baaaack in the day, I lived in Nashua, NH and for a 2 bedroom that many years ago it was $1275 plus all utilities.

Enjoy it while you've got it.

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[LiftGirl]

Originally Posted by westside24

Im confused at something...



Where does everyone keep comming up with this figure??? like 4 people in this thread have stated that renting cost them an arm and a leg plus 1000 dollars a month....

On the East Cost, and especially in and near big cities, rent goes way up. It's hard for us midwesterners to understand.

[Merrida]

Originally Posted by LiftGirl

On the East Cost, and especially in and near big cities, rent goes way up. It's hard for us midwesterners to understand.

Well let's get some other statistics out there re: what people pay for rent and mortgages?

Delete those anywhere in this country who have their houses paid for and their kids' tuition paid for and their cars paid for.

The prices of $1500 are what I've come to expect, so help educate me and those of us who are accustomed to these, and post where you live and how much you pay and what your monthly expenses are.

It would be an interesting observation, because LiftGirl makes an excellent point.

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[Maxgain]

Originally Posted by Merrida

Well let's get some other statistics out there re: what people pay for rent and mortgages?

Delete those anywhere in this country who have their houses paid for and their kids' tuition paid for and their cars paid for.

The prices of $1500 are what I've come to expect, so help educate me and those of us who are accustomed to these, and post where you live and how much you pay and what your monthly expenses are.

It would be an interesting observation, because LiftGirl makes an excellent point.

.

Just to show how ridiculous it is here.

Average rent nationwide now stands at €1,382 ($2,200)

Rents across Ireland have increased by 11.9 per cent over the past year, according to a new report by property website Daft.ie. The average rent nationwide now stands at €1,382, approximately €150 more than this time last year.

Over the last year, the supply of properties available for renting has fallen by about 20%. Many people who have been priced out of the residential sales market are staying in their present rented accommodation. This is affecting supply, as it reduces the number of properties becoming available for rent.
At the same time, demand is at an all-time high due to the demographic bulge of people at renting age and high levels of immigration

Thats $26,400 a year just to rent. Now take into account 78% of people earn less that $55,000 a year BEFORE tax people can be spending over half their income on rent and not even owning the house for it.

[Merrida]

Max, BRAVO and well said.

Thank you for pointing out what should be the obvious.

I still fail to understand how these conditions can continue,....we are all going to end up on the street at this rate.

Well I did a little "what-if analysis" over the weekend to see where I sit on the scale of how much does it cost to live each month. I hope to share once my analysis is complete.

Next on my analysis is to figure out how much a can of spam costs.

[Merrida]

Originally Posted by pierini

Next on my analysis is to figure out how much a can of spam costs.

An angiogram and triple bypass.

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