OT-How much money does the average family have left over each month?

[RobinMarie]

I could probably pack my lunch, but I leave my home at 6:30 am and get home no earlier than 7pm, sometimes like last night, 9:30pm and even midnight is not unheard of, and I guess I just don't have the time, energy or inclination. My wife follows a similar schedule, except she leaves at 5:30am.

I guess I could buy cold cuts or something, but I don't really want to.

This brings up another point, it's not always where you live, but sometimes it's where you work. I work 10 minutes from home. I would not/could not accept a job even if I made twice as much which required me being out of the house 12 hours a day. That makes for a 60 hour week, compared to my door-to-door 43 hour week!

I always think about how much it would cost me to change jobs: benefits, gas, after care costs, lunch etc.

 

[marcyinPA]

This brings up another point, it's not always where you live, but sometimes it's where you work. I work 10 minutes from home. I would not/could not accept a job even if I made twice as much which required me being out of the house 12 hours a day. That makes for a 60 hour week, compared to my door-to-door 43 hour week!

I always think about how much it would cost me to change jobs: benefits, gas, after care costs, lunch etc.

How true!! My dh worked in Jersey and we live in PA. He had a 1 1/2 hour commute each way every day. Between gas, wear and tear on the car and wear and tear on HIM, he couldn't take it anymore (he also HATED the job...). He was offered a job with another company making about $20K less than he did in Jersey. He took the lesser paying job. He loves his new job, he is more independent and he also likes the company he works for much better. The pay cut has been difficult, but it is WAY worth having a better quality of life!! Money IS NOT everything!!!

Oh, and to the folks that keep saying that your income will continue to increase over the years....MAYBE. We thought that too when we bought our first house, but my dh went through 3 lay-offs in 12 years. He is making half of what he made 4 years ago when he worked for Lucent Technologies (probably why they are so defunct!!) It really does depend on your line of work. But then again, even so called "stable" jobs have lay-offs sometimes. We have always bought a house at the low end of what we qualify for. You just never know!!

 

[DiznEeyore]

We have always bought a house at the low end of what we qualify for. You just never know!!

Very wise!!!

 

[disneysteve]

We have always bought a house at the low end of what we qualify for.

When we were shopping for our house, the mortgage company had us pre-approved for a mortgage that I knew from my own calculations was way more house than we could comfortably afford. Yes, we could have handled the payments but there would have been nothing left for investments, vacations, furniture, etc. We ended up spending about $20,000 less than what they were willing to lend us. (I know that doesn't sound like much today but it was more 11 years ago.)

 

[TammyAlphabet]

Left over? Left over?

 

[hlane]

Well thank you all for your comments & advice. We went & signed the paperwork tonight for our house. I am feeling a lot better now then I was & I'm excited This just was an opportunity we could not pass up. Where are getting a wonderful, spacious home in a nice area in one of the best school districts around. Not to mention we are getting a great price that is much less then smaller homes in our area are selling for. Yes things will be tighter then we are used to but we'll manage. I love couponing & stocking piling & now I'll finally have the space I need to do that & that in it's self will cut down on spending. I also have only 7 quarters of nursing school left & once I graduate I SHOULD be able to get a job making almost double what I make now. So wish me luck & send some pixie dust my way!! Thanks again!!

 

[joestein]

Enjoy your new home!

 

[Okiemom]

It sounds like alot to me to have left over each month, but then things are really tight for us now. It sounds like you have prepared well, so you will probably be ok.
I can tell you though, we used to have that much left over each month, and really things really seemed good for years, but the kids do become teenagers and college students and now we have 3 kids in the most expensive stages, so between health insurance, home insurance, taxes going up you can get squeezed out in a hurry. I think I read somewhere college has double in price since 5 years ago, so our wages sure did not.
But a home is the best investment you can have, so enjoy!

 

[jenr812]

Well thank you all for your comments & advice. We went & signed the paperwork tonight for our house. I am feeling a lot better now then I was & I'm excited This just was an opportunity we could not pass up. Where are getting a wonderful, spacious home in a nice area in one of the best school districts around. Not to mention we are getting a great price that is much less then smaller homes in our area are selling for. Yes things will be tighter then we are used to but we'll manage. I love couponing & stocking piling & now I'll finally have the space I need to do that & that in it's self will cut down on spending. I also have only 7 quarters of nursing school left & once I graduate I SHOULD be able to get a job making almost double what I make now. So wish me luck & send some pixie dust my way!! Thanks again!!

Congrats!!!