Even after taxes,that is great money.
7600 a month. Let's say 40% is taxes.
4560 after tax.
assuming no retirement or HSA deductions
Housing usually is the next biggest budget expense.
US average rent is 1500-1800/mo
We'll use 1800.
probably an underestimation for urban areas; my search says averages are more in the $1,800 to 2,000 range
2760 left to pay utilities (elec/gas, water/sewer, phone/internet/cable).
utilities have been steadily climbing by large jumps each year for several years; we've signed up for plans that spread bills out over the course of the year and pay about $200 per electric and gas, ~$100 for water and sewer, so $600 a month in utilities
~$80 for cell/internet bundle
Call it $750 to $800 if you add cable.
Groceries/month.
On average, my family of 4 spends $100-120 per week with larger weeks, say once a month, where we stock up on bulk protein from Costco and freeze it along with other more stable items we can use in bulk; say on average $200-250 per trip
That would give a total of about $600-$730 per month
Car insurance needs to be broken down to note monthly expense.
Personally works out to about $150
Single person is doing really well with this.
A couple? That's $200,000. No sweat.
This is need vs want.
The 'want' crowd can't survive because they don't understand what 'need' means.
#12 | Posted by Petrous
Totals for my bold text are $3,550. Without any deductions or savings.
Leaving $1,010 remaining.
That doesn't include other big ticket items like:
Car payment - average of ~$1,000
Daycare/child care - average ~800-1,000 per child depending on child's age
student loan payments - average $400-500
Car/home maintenance - variable
Medical costs - variable
Clothing/shoes/gas/miscellaneous items - variable
Me thinks your last line is based on the significant assumption of two six figure earners in a single household whereas the norm is, most likely, a single six figure owner in a household with supplemental income coming from the other spouse/partner.
Even if there are two six figure incomes in a household, two kids in day care wipes most of that gain away.
