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RE: Can you live on 55k per year?,
sheila mcmahan,
Apr 28th 2012, #1
RE: Can you live on 55k per year?,
LvTriplets,
Apr 29th 2012, #2
RE: Can you live on 55k per year?,
TripletsRule,
Apr 29th 2012, #3
RE: Can you live on 55k per year?,
MaryM,
Apr 29th 2012, #4
RE: Can you live on 55k per year?,
rhmaxx,
Apr 30th 2012, #5
RE: Can you live on 55k per year?,
Amy5,
May 02nd 2012, #6
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LvTriplets | Sun Apr-29-12 01:01 AM |
Member since Nov 05th 2007
1747 posts
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#488000, "RE: Can you live on 55k per year?"
In response to Reply # 0
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We do, but it is check to check here, no long term plan and that is SCARY! Make a budget. Car payment, mortgage, groceries, gas, insurance, utilities, cc payments, baby food, diapers, etc. Can you cover it? Do you have any savings in case extra stuff like the car broke down, or unforseen medical, etc?
Maybe save a little and in the mean time get a nanny or maybe just a house keeper to take some of the stress off. Maybe then your time home could be be more time with the babies instead of doing crap around the house. Good luck! Laura & Don BBB 5/05 www.ourbighappy.blogspot.com
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MaryM | Sun Apr-29-12 08:26 PM |
Member since Nov 05th 2007
584 posts
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#488009, "RE: Can you live on 55k per year?"
In response to Reply # 0
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I think that the answer to this question greatly depends on the financial situation you're already gotten yourself into--mainly, how much debt you have and how much you've saved. (Also, on the cost of living where you are).
My husband and I have been doing some analysis of our finances lately, thinking about long-term savings for college and retirement, and we've recently been looking over how much we spend/live on. I don't work, and we live on less than 45k a year. My husband makes more than that... I'm just saying that this is what we spend (not including giving and saving), but we don't have a house payment and have no other debt (no school loans, no car payments, etc.) I have my husband to thank for this, since we got married when he was in his early 30's and he'd spent the previous 11 years living frugally and saving a big portion of his income. And right now I'd say we live fairly modestly, in an older home, with vehicles that are an '00 and an '02. NOT that I feel deprived, we take vacations and eat out and buy the kids nice things. But it seems to me that you have to get on top of things first, getting out of debt and not spending more than you can afford.
Good luck, I have been a SAHM since my oldest was born, 7 years ago, and it's been wonderful for me and our family.
Mary (41) happily married to Case (45) since 7/2000
Stay-at-home mom to Madelyn Anne, born 10/31/04
and GBG triplets: Laura Catherine (4 lb 8 oz), Andrew William (4 lb 9 oz) and Elise Nicole (4 lb 7 oz) born 3/15/07 at 34w 1d
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Amy5 | Wed May-02-12 03:13 PM |
Member since Nov 05th 2007
2287 posts
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#488022, "RE: Can you live on 55k per year?"
In response to Reply # 0
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We are a family of 7 and have done so for many years now! We cut a lot of corner and make a lot of sacrifices but it is working. Amy Mom to: G 00 B 01 BBB 02
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