What's your household income? - Mothering Forums

View Poll Results: What's your household income?
$15,000 or less 18 3.28%
$16,000-$25,000 49 8.94%
$26,000-$35,000 54 9.85%
$36,000-$45,000 57 10.40%
$46,000-$55,000 69 12.59%
$56,000-$65,000 64 11.68%
$66,000-$75,000 44 8.03%
$76,000-$85,000 36 6.57%
$86,000-$95,000 26 4.74%
$96,000-$105,000 37 6.75%
$106,000 and up 94 17.15%
Voters: 548. You may not vote on this poll

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Old 05-28-2008, 01:08 PM - Thread Starter
 
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I made it a poll so you don't have to give the amount...

Is it enough?

What is the least amount you could live on?

Jenn: WOHM to a big girl (7/03), a medium girl (8/07), and a little girl (12/10)
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Old 05-28-2008, 01:15 PM
 
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I feel that we make enough. I think that the least that we could live on would be 70-80k, and still maintain the same lifestyle and still accomplish our savings/retirement goals.

Texmati-- Knitter, Hindu, vegetarian, WOHM. Wife to superdadsuperhero.gif and mom to DS babyf.gif24 months, and DD boc.gif 8 months! .

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Old 05-28-2008, 01:19 PM
 
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We don't make enough. The least we could survive on is about 30K, if we figure in DH's student loans bump it up to 40k. That would make us able to pay the bills on a regular basis. We make no where near that now.
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Old 05-28-2008, 01:22 PM
 
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We actually make way more money than we need given our frugal lifestyle.

If I add in our mortgage and student loans, we could live on $40,000 comfortably.

Now we're just socking it away for retirement and spend like we live on 30-40K

Me:
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Old 05-28-2008, 01:22 PM
 
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We make enough. I am sure we could live on less, but I honestly don't know how little. I have never figured it out based on necessities. It would probably be a good idea to know that number for future reference.
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Old 05-28-2008, 01:27 PM
 
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We aren't currently making enough. My husband is a PhD student, and I am currently working from home, building my business from the ground. So our income is very, very low.

It's a temporary situation, but it's a hard one! I am always looking for ways to be more frugal and also to earn more money to get us by.
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Old 05-28-2008, 01:32 PM
 
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It's enough.

We recently moved and DH changed jobs. Our income doubled. Our expenses didn't quite double, but close, so it's not like we're saving all of that extra income (we're in a far more expensive area of teh country).

But still, it's more than plenty. We don't go on lavish vacations or own new cars, but other than that we live pretty well, we save a lot, though we're always trying to save a little more.

Staying in this very expensive house and not saving, we could get by on about $45,000/yr. If we didn't have this house, probably $30,000 or less. We don't have to worry about health insurance and some other things most people need to take into account. I'm also really comforted knowing that DH gets a pension (and if he dies I get a portion of it) and we could live just on that if we had to (though, again, not in this house).

Sara
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Old 05-28-2008, 01:32 PM
 
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seriously? Me and my two kids have lived on $360.00 a week and did fine. very little going into savings, no credit cards, relatively low rent, tiny car payment, etc. We did ok. it was tight, but we still ate well and had the things we need. I'm amazing, is all.... I'm convinced that's how it worked.
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Old 05-28-2008, 01:33 PM
 
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We definitely dont make enough. DH quit his job over a month ago so still no income. The pantry is bare but we switched to cloth diapers so that's saving us a lot since 2 are still full time diapers and 1 is at night.

We have gone from both working full-time, to 1 full-time, 1 part-time (I worked for the NHL during the lockout), and then I was pregnant and it was the NHL strike so I stayed home full time, so down to 1 full-time, then when I was preg with my middle baby we moved and dh took a big pay cut. But we managed to get all our debt paid off through all that....too bad its adding back up now with no income


I think we need at least $60,000/yr to live comfortably and we live in a really cheap small town. It would have to be lots more if we moved to the city.
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Old 05-28-2008, 01:33 PM
 
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Old 05-28-2008, 01:41 PM
 
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We pay too much in rent, and because we have three kids we can't get a smaller apartment because we run into square-footage-per-person laws, and we have to live in this area so DH can bike to his job since we only have one car. Plus we're tied to a lease. We only have income for ten months a year, too. What we make now is pretty much the bare minimum we can get by on. I'd prefer not to say how much.

We could live on less if we moved down into the city, but we'd be living in squalid conditions in neighborhoods with no place for my kids to play and too much street noise and chaos and crime. Not for us.

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Old 05-28-2008, 01:42 PM
 
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We make enough.

The least amount I could see us making and maintaining some semblance of balance is about $45,000 for a family of 5. We have lived on as little as $22,000 for a family of 3, but it was difficult and resulted in credit card debt that took 10 years to get out from under.

Mama to three small people; wife to one big person; pet-person to cats and dogs..."Be the change you want to see in the world"-- Gandhi
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Old 05-28-2008, 01:44 PM
 
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We made about 30 k last year. We could live off of 12 k but w. would have to be on a strict budget.

Unassisted birthing, atheist, poly, bi WOHM to 4 wonderful, smart homeschooling kids Wes (14) Seth (7) Pandora Moonlilly (2) and Nevermore Stargazer (11/2012)  Married to awesome SAH DH.

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Old 05-28-2008, 01:49 PM
 
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It's enough. If we were to stay in this house we could easily live on less, but we're selling it next year & will have a higher mortgage payment. We will need a bit more, not much though. It depends on what the houses do in the next year.
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Old 05-28-2008, 01:52 PM
 
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I included financial aid, which is mostly loans. Without it, though we wouldn't make enough. Even with DH working overtime. We live in a high cost of living college town.

.

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Old 05-28-2008, 02:08 PM
 
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To live comfortably in this area we need another $10-15K. I don't see that happening any time soon though.

This is the only area I've heard of in which housing costs are still going up.

Mom of a 7 yr old, 4 yr old, and 1 yr old. Wow. How did that happen?
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Old 05-28-2008, 02:14 PM
 
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We make enough, well dh does. So far, it's okay but i worry about gas prices and food prices all the time. I think the LEAST we could live on would be $50,000. We have a pretty good savings and I am trying to be more frugal. We also have no credit card debt, which helps.

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Old 05-28-2008, 02:22 PM
 
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Nevermind... moot point. I didn't read thoroughly.
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Old 05-28-2008, 02:42 PM
 
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onces credit debt and car debt goes away we will be okay with the income my dh is bringing home
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Old 05-28-2008, 02:45 PM
 
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less than $15K for one adult and 3 little ones. some months it's barely enough, most months it's not enough. but there's a roof over our heads and food in our mouths. I feel blessed.

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Old 05-28-2008, 03:09 PM
 
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Most times it's enough. Sometimes not, depends on what comes up. We have little savings, but all the bills get paid because I'm a great juggler. I juggle the bills, the kids, everything. I have to or we'd never seem like we had anything 'extra'.

Happy Homesteading Homeschooling Homebirthing Beekeeping Dready (& a bit redneck even) Mama to 4 fab kids :  dd (23), dd (13), ds (11), dd (5)

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Old 05-28-2008, 03:10 PM
 
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I think we're ok with DH's salary but he thinks we need more. Five of us on a little less than $60,000.
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Old 05-28-2008, 03:22 PM
 
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It's enough. It would be more than enough if we didn't have debt.

Rachael ~ Wife to : DH ~ Son 4-24-07 ~ 6-24-08 ~ Daughter 7-22-09
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Old 05-28-2008, 03:32 PM
 
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More than adequate - we put back a lot in savings even after retirement savings. But I always give this disclaimer... we're 10, 20, even 30 years older than many people on these boards. We've both always had good careers, but these days are much better than when we were in our 20's 30's and (in dh's case 40's).
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Old 05-28-2008, 03:40 PM
 
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2 adults, 2 kids, about $80,000 before taxes last year. Our health insurance is CRAP so about $10,000 went to medical bills that our insurance did not cover. (nothing major, easy hospital birth, prenatal care, well child and baby visits, and ds's had to have double bili blankets and daily lab work for a week) It sounds like a lot, but it goes fast when $300 a month year round goes towards oil for the furnace, dh has a far commute to work, so its $250 month in gas at least.
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Old 05-28-2008, 03:43 PM
 
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We are in the higher bracket and that is without the retirement savings. We put a chunk away for that. We live fine and able to support ourselves on 1 income.

We do live quite frugal though compared to others I know IRL.

"The true joy of life is the trip. The station is only a dream. It constantly out distances us."
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Old 05-28-2008, 03:52 PM
 
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We're right on the edge of not having enough, bills get paid but there's no savings. But DP is hopefully starting a new job in a couple of weeks that will pay $15k a year more. Then we'll be comfortable and able to save a little each month.
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Old 05-28-2008, 04:18 PM
 
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We have enough. We have lived on less and could do it again. At this point in our budget, the next things to go would be canceling our CSA subscription, reducing Christmas, and then scaling back retirement. If our budget still needed tightening after that, I'm not sure where we would turn. Right now, we are trying to move downtown to sketchville to try and reduce commuting costs (parking, gas, insurance, etc; we own our cars). So my best guess of the least we could live on and still pay our basic bills would be $25-30k, net.

I think we live well, although our IRL friends must think we are broke. They are appalled that we forgo so many "necessities" like cable, Netflix and gym memberships. I get the weirdest looks for line drying our clothes, cutting coupons and CDing the kids.

OP, I know this is beyond the scope of what you were asking about, but we really worry about the effect of inflation on DH's income. It is rapidly erroding our purchasing power. Freaks me out.

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Old 05-28-2008, 04:23 PM
 
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I'm not sure the actual amount once you include my husband's "allowances" (he's military, so the pay is done strangely).

It's a comfortable amount for my husband, our son and I. We don't have lots of extras, but our bills get paid, we have a roof over our heads, food on the table and nice a car to drive, along with a retirement account.

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Old 05-28-2008, 04:31 PM
 
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We have enough. Like a pp, we'd be closer to "comfortably enough" if we had less debt.

Quote:
This is the only area I've heard of in which housing costs are still going up.
Here too... we just sold our home of 5 years for double what we paid and moved 30 minutes away. And the very small, very rural home we just bought was all we could possibly afford (and we still had to take on a mortgage to do it).

My dream would be to have decent medical insurance/health care though... it really hits home when a dr visit sets us back 500-600 dollars. Not including medication. Luckily Dh is the one with real medical needs and he does have good coverage so that's to the good.

Right now we are two adults, two young children, with a pre-tax income of a few dollars more than 48K. We could get by on less (we have in the past when we had only one child, lived on just my income, and ate a lot of food pantry and WIC meals), but not a lot less. Right now we have close to 350 dollars above "absolute basic must be paid" expenses each month. But that goes fast when you start shopping for more than rice/beans, when your 3yo has a growth spurt or your one year old gets sick, when the washer breaks and you're using sposies, when your dad has a degenerative disease and needs "extras" he can't afford on his own, when gas prices keep going up and DH has to commute, etc.

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