<p>BCEagle posted:</p>
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<p>That’s quite a nice income; certainly my household’s income is nowhere near that a month.</p>
<p>barrons posted:
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<p>Me, too. </p>
<p>I just did the math for my household; one paycheck, two adults, one high schooler, two cats, two 10-year-old cars, suburb of DC, paid less than $150K for the 1,875 SF house in 1992 from a very very motivated seller and got a great deal.</p>
<p>After deductions (life, medical, dental, vision, legal, car insurances, taxes, charity, and flexible spending account) and bills (housing, electric, phone, natural gas, water, phone; no cable, no car payments, no vacation funding), and saving (10% of our income, all in 401K, mutual fund, and 529), we have almost 15% of our monthly income left to spend on food, gasoline, commuting costs, clothing, entertainment, car and house maintenance, summer camp, books, other charitable giving, and so on. H, S and I all get small allowances, too, out of that almost 15% of my paycheck. Most of mine goes for gasoline and parking fees; I usually pack a lunch, though food in the cafeteria is inexpensive, to save money.</p>
<p>My employer offers a subsidy for mass transit, and though it takes me an hour longer each day (making my total commuting time 3 hours/day), most days I take advantage of this. (Parking at the subway is $4.25/day, however, and I still have to drive the 20 minutes to the parking lot.) I’d bicycle to the parking lot were it not that I don’t want to spend even more time commuting than I already do.</p>
<p>We have no “emergency fund” of cash sitting in a bank. It’s hard to know what else to trim. If we had an income of $10K/month, I’m sure we’d be able to save more money, too, but $1000K/month just for college savings? Very unlikely.</p>