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How much family income do you need to have a comfortable lifestyle? - Page 2

Poll Results: How much family income do you need annually to afford a comfortable life style?

This is a multiple choice poll
  • 10% (56)
    25,000-40,000
  • 11% (58)
    40,000-55,000
  • 15% (77)
    55,000-75,000
  • 8% (45)
    75,000-95,000
  • 10% (52)
    95,000-120,000
  • 4% (24)
    120,000-150,000
  • 3% (20)
    >150,000
  • 20% (106)
    We have enough income to have a comfortable life
  • 13% (68)
    We do NOT have enough income to have a comfortable life
  • 1% (6)
    other
512 Total Votes  
post #21 of 87
We live, literally, paycheck to paycheck and it's not enough. If we could have enough to pay the bills each month instead of deciding which bills to pay/what amount to pay on which bills I'd be cool with that. Also, and I can't stress this enough, enough money to afford health and dental care. You know, so we can actually use the insurance we pay for.
post #22 of 87
Comfortable would be about $40K. We make around that now, but we're putting large chunks into retirement and stocks, so we're not actually living as comfortably as we could. I'd like to have $40K *after* savings ... that would be ideal for me.
post #23 of 87
We're in the 25-40K range and we're comfortable. We have no CC debt, our bills are always paid, money goes into a savings and retirement account and we still have a good amount of disposable income after that. I feel very blessed.
post #24 of 87
Quote:
Originally Posted by UnschoolnMa View Post
We live, literally, paycheck to paycheck and it's not enough. If we could have enough to pay the bills each month instead of deciding which bills to pay/what amount to pay on which bills I'd be cool with that. Also, and I can't stress this enough, enough money to afford health and dental care. You know, so we can actually use the insurance we pay for.
We have so been where you are and it totally sucks! I remember having to give up taking medication because we couldn't afford it and having to not get teeth fixed because we couldn't afford that as well. Thing with us was we weren't poor enough to get assistance, but we didn't have enough money to buy groceries or pay for insurance--or anything else for that matter. We are doing better now, but still not as well as we should with all our debts (stupid payday loans and credit cards: )
post #25 of 87
We are in bracket one and live comfortably. Barring uncontrollable medical costs, it's all about living within your means.
post #26 of 87
We would be beyond comfortable in most parts of the US with our combined income of about $145,000, but due to where we live, it is less than comfortable. Nonetheless, I feel fortunate and try to focus on that. We do not take vacations, hire babysitters, or frequently have a meal at a restaurant. We do manage to pay our very hefty mortgage and can afford to have our children participate in all of the activities they like.
post #27 of 87
For me, comfortable would be having an extra 1000/month after paying for all bills, groceries, gas, gifts, clothes, other expenses, etc. etc. I woudl like within that to be able to afford to eat out 2x/month and for my children to be involved in any activities they desire, and to be able to eat all organic food (now we eat organic meat, eggs, and veggies).

Right now, we aren't quite there. We have about 700-1000/month left after everything, however we don't eat out that often, and we can only afford cheaper actiivites for my dd1 (like soccer, or audobon classes)..we can't afford the horse-backing riding lessons she really wants (although she is still pretty young for that). Well, we *could* afford it, we just aren't willing to pay that much and take that much away from our surplus money each month. Plus, all the surplus we have each month is going to pay off dh's student loans. He has about 10k left on that. Once we pay that off, we will be debt-free..HOWEVER, we are hoping to have a 3rd child, and will need to purchase a mini-van...so then all the excess we make will go to paying off the mini-van. Hopefully within 5 years, we will be completely debt-free (from student loans and our (future LOL) mini-van). Then I will really feel comfortable...as we could put the surplus money we have each month into savings.
post #28 of 87
I think DH makes around 85K- it could be more comfortable though. I would love to have NO debt- home, car, student loans payed off. And have a TON in savings for those unexpected times.
post #29 of 87
We have a more than comfortable lifestyle. Since we're expats, dh's company picks up ALL the bills, plus we get a hardship pay (extra), so all dh makes is pocketed.
post #30 of 87
We sat down and figured this out a few weeks ago. We would need $40K to minimally meet our current expenses and debt payments plus those random bills that come up, like car repairs, without having to stress over the payments, plus a small safety net. This would also allow us to have a few more creature comforts, like magazine subscriptions at full price. More than $40K would allow us to set aside decent chunks of change into retirement and college savings.

Living frugally (i.e. without the creature comforts unless on major discount, no savings or safety net, no ability to pay those random bills without major juggling) we're currently about -$100/week on what we need. Most of that shortfall just got absorbed by our tax return, which allowed us to pay off all our past-due and current bills, one of our credit cards, part of another, an unexpected car repair, and catch up on grocery shopping. We also have a small safety net now. But we still need to increase our income and are working on that.

Whee!
post #31 of 87
I voted 20-40, because I am a single mom of 4 boys, and I guess 20-40 may seem like alot of money and I may be being a little selfish, BUT, it seems like every month is a struggle, and if I had that much, all the little things that pop up everytime I think I have my bills covered wouldnt be so hard,kwim?
post #32 of 87
How comfortable you are has more to do with mind set than what you make. DH and I have had lows and highs over the years and there have been times when our incomes were pretty low, but we were very happy living frugally, then there have been times when our income was greater and we felt strapped b/c there was stuff we wanted or we had run up some dept (or too many parking tickets when we lived in NYC.)
post #33 of 87
when we first moved out as teenagers, we were broke, but then when we made like 800 more dollars a month than that, we were even more broke!

i hate even talking about finances, if that gives you any idea of mine lately.. :
post #34 of 87
Comfortable to me would not be having to worry about the bills, being able to buy a new/used car without freaking out, and having our retirement fully funded. It would also mean my being able to go out and buy a shirt without feeling guilty, for DH to get his clothes somewhere other than Sears, and for a night out to periodically be more than getting a slice of pizza with the kids.

For where we live, it would take about $150-160k a year to lead a comfortable lifestyle. I know - we were making more than that before I left work to become a SAHM and we had a nice, comfortable life where we never saw each other b/c of our work hours and travel. I wouldn't change anything.
post #35 of 87
For my family we do make enough to live a very comfortable lifestyle. DH makes the majority of our income and I make a pretty decent amount also. I even think we could live on less than we make, although currently we like things the way they are! Once we are debt free we hope to be able to enjoy a comfortable life on DH's salary alone, as I will likely be a SAHM after we have a third child (hopefully next spring!)
post #36 of 87
did I answer this already? we have enough for a comfortable life-for now. Plenty leftover after the bills, savings, etc.-and we try to live frugally. However-retirement and college tuition will come at the same time for us, so that does create some stress. we're preparing as best we can-could surely be better off having more to put away, but we're not willing to sacrifice enjoying our now for that. We have to trust we'll have what we need.
post #37 of 87
I voted over $150,000+ for where we live - high cost of living. We do this now (more DP than I) but we both save a lot and don’t dip into that but our income fluctuates.

What’s more in my definition of “comfortable” is home ownership, two nice cars paid-off, the ability to travel on a regular basis, health insurance, sending kids to college and money, retirement and savings. If we move out of the Bay Area, it would be possible since DP has his own business and can take that with him.

The only reason why I would be a WOHM is because of health insurance for just the two of us (not including a baby) would be through the roof.
post #38 of 87
I honestly believe in the fact, "the more you make, the more you spend." We have had a few different salary ranges and it seems we struggle no matter WHAT The income actually is.
post #39 of 87
Our income is about $75,000. We have some extra's, and have some to put into savings each month. We do get pizza weekly or go for Chineese food. We don't buy new clothes, unless they are last seasons sale stuff. We normally buy good will stuff. We are a family of 3, with one on the way. I consider ourselves comfortable, since a major expense would not put us into debt or make us loose our house or anything like that. We have a mortgage payment and one car payment.
post #40 of 87
We are in the $65-90 range and I feel like we need about double that to really be comfortable. I am a debt free kind of person myself. I want NO debt, at all. Comfort, for me, is knowing that my kids will have college and all expenses while in college paid for, having a wonderful retirement plan, taking a nice vacaction once a year, and having a nice home.

Right now, we barely save anything, have a MEASLY retirement plan, and take two day local vacations. That's going to change!
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