What is "good" money.

[snowywhite89]

I am watching an episode of "Til Debt Do Us Part" and Gail said that both the DH and DW made good money.

The DH made $52K and the DW made $87K.

What do you think is "good" money.

 

[indimom]

Sounds "good" to me, but that really depends on where you live: Podunk Indiana or NYC.

 

[pearlieq]

I've always thought of "good money" not as an extravagant amount (the technical term for that would be beaucoup bucks ) but as the amount of money that is enough for a comfortable existence--everything you need and some of what you want too.

I would start calling it "good money" when a single person made over 50k and a family had a household income of over 80k. That would be enough, in my average COL area, to have enough for a few extras if you manage your money sensibly.

 

[sarahlovesmickey]

I guess I would consider good money an amount where not only the necessities are paid for, but there is also breathing room to do the enjoyable things in life (ie:vacations) and buy some extras here and there. And lets not forget money for the savings and retirement accounts!

 

[scrapquitler]

Anyone (as in a couple) with income higher than ours (myself + DH) makes 'good' money.

Seriously, $137K, that might be 'good' money depending on where they live. If they live in the NYC Suburbs, that might not be good money, but in the middle of a low cost of living area, it might be "great" money. Where I am (Southern CT) that is decent, but not enough to make them live extravagantly.

 

[QVCshopper]

I think good money is $100K+ per couple, in most parts of the country & Canada (since that's where they film To Debt Do Us Part). I think they are making very good money. I love that show!

 

[windycitymom]

It's not what you make, it's what you keep that counts!

p.s. I like that show too - Til Debt Do Us Part!

 

[Halbleib1]

It all depends on who you ask. Good money to me is having all of your bills paid and not having to worry about finances. Being able to go to the store and buy something without having anxiety about if you can really afford it or not. And I am talking little things not expensive items such as computers etc. Being comfortable with where you are at financially is good money to me.

Right now there is a lot of anxiety/worry because my dh has been laid off for over a year and his unemployment is coming to an end in April. So good money in that situation would be any job that can pay the bills and put food on the table without worrying if we are going to have a roof over our head come April.

To the pp that said good money to them is 100,000 per couple to me that is great money. Before my dh was laid off he made about half that and we were living very comfortable and were able to buy the extras without worry as well as being able to save money for an emergency and for vacation.

It all comes down to living within your means. Once you get use to a certain lifestyle it is very hard to go backwards though.

And as a pp said it all depends on where you live. If you live in or near a big city it is going to cost you more to live. Where I live costs much more than where I grew up in rural PA however the jobs pay more here than they did there as well.

 

[lisaross]

Good money would be money earned by working each day...

 

[bdcp]

100K is below the household avg in the county I live in. "Good money" here is over 200K. It really does depend on where you live. Good money is relative. Most people would think what we make is "good" money and it is, but it is what we expect to make for where we live and what we do.

In a lot of Manhattan, 200K would be considered barely enough. In parts of the midwest and south, 75K is good. That's why I have such an issue with taxes and certain people in elected office saying people making over 200K are rich. The tax tables and the gov should take into consideration the cost of living and not use such a broad brush.

 

[punkin]

Good money is always about 10% above what we actually make.

 

[LoveBWVVBR]

That would depend on where they live. Here (Coastal FL), I think that that would be OK money...maybe not great, but decent and definitely middle class. In NYC or San Fransisco, I don't think that it would be considered "good" money.

 

[snowywhite89]

Anyone (as in a couple) with income higher than ours (myself + DH) makes 'good' money.

Seriously, $137K, that might be 'good' money depending on where they live. If they live in the NYC Suburbs, that might not be good money, but in the middle of a low cost of living area, it might be "great" money. Where I am (Southern CT) that is decent, but not enough to make them live extravagantly.

She doesn't tell you what city they live in but her show is from Canada.

I would agree that $139K for a couple is good money. She said you each make good money so that would mean that she thinks of $52K as good money for a single person.

 

[fredflintstone]

WOW! I am amazed at this! What you guys are considering "good or great" blows me away! I don't work, just my hubby, but he makes a little more than your "good" for a single person! haha So I guess we are just dirt poor to you guys! Geesh..we are military so maybe that is just different, but I don't know anyone that makes over 75k joint. My inlaws in VA don't make that..none of our friends in NC, GA, DE, FL make that! Now my mother in FL does as she is a nurse and they are dual incomes, but wowzers! We do just fine and are retiring in a few years and will live off just one income I am sure! Unless I get a wild hair up my toosh and get a job. This was very interesting reading all the responses though!

 

[indimom]

WOW! I am amazed at this! What you guys are considering "good or great" blows me away! I don't work, just my hubby, but he makes a little more than your "good" for a single person! haha So I guess we are just dirt poor to you guys! Geesh..we are military so maybe that is just different, but I don't know anyone that makes over 75k joint. My inlaws in VA don't make that..none of our friends in NC, GA, DE, FL make that! Now my mother in FL does as she is a nurse and they are dual incomes, but wowzers! We do just fine and are retiring in a few years and will live off just one income I am sure! Unless I get a wild hair up my toosh and get a job. This was very interesting reading all the responses though!

You took my "good" the wrong way...I meant that amount is good because DH and I don't make that much. But around here, you can live on less than that.
But, that being said, military households are quite a bit different. I don't know how things work for you, but my sis (substitute teacher) and her Air Force hubby bring in less than DH and I, BUT their mortgage is paid for, their medical needs are covered, and they get other benefits as well. She lives in a higher COL area than us, makes less, and is doing fine thanks to these perks.

 

[SookieStackhouse]

It all depends on where you live.

 

[DawnM]

It is all relative isn't it?

We know people who live here who make in the 250K range and we know people who make in the 75K range or less......

I think it just depends. I made double my salary when I lived in Southern California, here I make just about half! DH makes about 30% less or so than he made in CA. So good money there is different than good money here.

Let's put it this way: Most people would NOT say, "I make plenty of money!" no matter if they make $50K or $250K.....they might say they make good money, but I haven't heard too many people (besides folks like Oprah) say they make more than enough!

Dawn

 

[eliza61]

Good money is always about 10% above what we actually make.

"good money is when your money works hard for you, not when you have to work hard for the money"

Good money questions are like the "is it worth it" or "what is middle class" questions we see,
Just depends.

I read an article that says economist consider a salary of 40-60K as middle class but no way would I be able to comfortably live on that salary in my area.

Like others said it's all relative

 

[Swimalie]

100K is below the household avg in the county I live in. "Good money" here is over 200K. It really does depend on where you live. Good money is relative. Most people would think what we make is "good" money and it is, but it is what we expect to make for where we live and what we do.
.

You must live near me. That is the average in my county as well. And we live in the more expensive end of the county so it's even less than average if you make below $100k. So here, I would say good money is $150k and above.

But I also agree that good money depends a lot on where you live. If your bills are paid on time, you've paid yourself (savings account), paid college funds and retirement funds and you have some left over each month.

 

[DawnM]

You know, in reading this I am also reminded that it depends on when you bought your house in the more expensive areas.

We bought our last CA house in 2000, right before the HUGE boom in real estate. Even making under "good money" there we could have survived just fine.

In fact, DH and I both wish we had just kept our first house we purchased in Southern California for $142K. We liked that house. We could have had it paid off by now and could be living well in the area I wish we had never left.

Dawn