How can a family live on $50,000 per year.

decent putdown, but it doesn't take brains to make $169k/yr. listen to some of the dumbs3ds in business. what it takes is to go into a lucrative profession.

Reality check223 wrote:

Goran wrote:

Good luck trying to make it with 50k in California in a big city, not out in the boonies...

Rent for a 2 bedroom apartment is around $1,800 where I live. I currently live in a one bedroom with a baby on the way so we have to get a 2 bed soon. My wife will stop working and we will be living off of my 50k for a while until she starts working again, part-time probably.

Expenses per year for family of 3:

Rent: $21,600

Utilities: $1,200

Family Health Insurance (half paid for by my company):$2,640 (+co-pays, so roughly $3,000 total)

Gas and toll bridge : $5,000

Food: $6,000

Entertainment: $1,000

Travels: $3,000

------------------------------

$41,800

After taxes I make $42,000

So it is possible even in Cali!

There's no way you need to spend $6000/yr on food! And anyone (not necessarily you) who complains about their location being more expensive than other parts of the country....MOVE!

I'm a single person and just for me I know I spend close to that on food. I could probably cut that in half if I shopped at Aldis and stayed at home every single night. I suppose two people can do it but for this guy with the baby on the way that's really cutting it. But it can be done.

What do diapers cost? Would I have to give up coffee? That's getting expensive too.

Ah yes, JUST MOVE! Never mind that you're leaving your job and everyone you know behind. Never mind that you might own a home and not be able to just move on a whim. Never mind that your kids and wife don't want to move.

Reality check223 wrote:

And anyone (not necessarily you) who complains about their location being more expensive than other parts of the country....MOVE!

And if you have elderly parents who depend on you for many basic neccessities, just abandom them, or stick them in a nursing home.

If you have spent many years building a business with loyal clients it should be easy to just move somewhere else and start over.

If your kids in a school where they are thriving and happy, it doesnt' matter - just move.

How old are you anyway?

Actually, many children provide caregiving to their parents that does not involve financial support. They assist them with basic activities, such as going to the bathroom, making sure they take medications, cooking meals, etc. It's pretty difficult just to walk away from that and let parents fend for themselves if they cannot afford to pay for care.

And I did not say anything operating a negative business. But anyone that has ever run a business knows that customer loyalty and repeat business is critical. Heck, even Apple knows this.

Wow. What an obnoxious post lol!

YOur emotional intelligence ratio must be off the charts; in the wrong directions!

Do you know that some people, people who arn't very well off, don't take vacations, and SHOCK, don't purchase running shoes. What a concept it must be for someone with such poor critical thinking skills!

And do you know what? Some people who make 50k a year for a family are probably mush happier, and yes, much better off that someone making 200k a year and living above their means, in debt and miserable. Maybe this is you?

Because that is the only reason I can think of that someone would post such an offensive post.

You are probably in serious debt and can't figure out how people who make less than you can manage. So sorry for you.

fidhgylsrhg wrote:

We both work out of our homes, and own a type of drop ship company.

Drop shipping on Amazon. Nice!

Even though this guy got called out in the very first reply, I still gotta give this one a 9/10 for closing in on 100 posts.

Where do you live? My family and I live in the mid-west and gross 53,000 per year and do just fine. Both of our cars are paid off (newest one is 2004) and we have a house payment of about 750 per month for a 3 bedroom home in a nice neighborhood. We travel a few times per year, after we have saved for it, we eat well, and we buy things we want within reason. Nothing we do is over-the-top, but we live very nicely. Hell, I even put plenty into retirement and savings each month. I guess it is just what you want to spend your money on......

apparently my wife and I are not the norm. I make about $40,000 a year in the midwest. We have two kids, rent a house, own two vehicles and never feel like we are strapped.

This is mainly possible because we worked our asses off in college to make sure we didn't have any debt when we graduated (also we came from mid-class families so we didn't qualify for financial aid in college)...this debt freeness allowed us to live on only $7000 the first year we were married....THAT was tough. The only government aid we took that year was $300 for heat assistance (we lived in Fargo at the time)...for you crazies that think all poor people do is suck off the government.

Today, we choose to live simply. We still don't have any debt. We don't pay for satelite dish or the like and rarely eat out. For fun we go to things like the local high school sporting events (family year pass $80). We still have plenty of money to buy things like running shoes and pay for race entry fees. Hell, I even bought a new road bike ($2000) last year after saving for almost a year.

It's amazing what saving and living simply will allow you to do in life financially.

J.R. wrote:

NOT so. I was a professional with my own business for many years. One time an associate was hyping cell phones and trying to get me to use one. He said what if you're out on a long run and someone wants to call you? I said, they'd be out of luck hahaha. End of discussion.

Was this in '95?

grew up with 5 brothers and sisters with a single mom on 9k child support. my mom may be crazy at times, but I'll give her this, she fed (throughout the 90s-2000s) 8 mouths 7 days a week for under $100 on groceries per week

now I make 50-60k, I feel like i'm rolling in it. so to speak.

xcrunners wrote:

now I make 50-60k, I feel like i'm rolling in it. so to speak.

If you're single and not living in a big city you are a high roller, yes!

I don't know about everyone else, but having traveled to Brazil and seeing how much people can or cannot live on down there really opened my eyes. But it doesn't take traveling oversees to see this. The stereotypical American is greedy and selfish, and there are many reasons that every other country has the idea that Americans are fat slobs who have everything they want... It's because the majority of us (including me at times) do not live within our means and have no clue how to manage an income

I clear $22k a yr. Have 3 kids. Drive a 2003 Z71 and ex drives a 2004 trailblazer, both paid. Rent a house for $600, which is a really good house for the price. We get $400 of food stamps which helps. We just live on what we have. I used to make more until 2009 recession. Now it is about buying what you need and saving for what you want. I get shoes when I need them, but I shop around for the best price. Races around here cost $10-15 and are within a 10 minute drive. Trips are schedule well ahead of time and saved for. Income tax works miracles on getting ahead.

go fishing wrote:

I don't know about everyone else, but having traveled to Brazil and seeing how much people can or cannot live on down there really opened my eyes. But it doesn't take traveling oversees to see this. The stereotypical American is greedy and selfish, and there are many reasons that every other country has the idea that Americans are fat slobs who have everything they want... It's because the majority of us (including me at times) do not live within our means and have no clue how to manage an income

Well said. The ignorance of the OPs post is stunning. He is obviously very clueless on economics, money management, and social skills to name just a few.

But I agree if you travel to other countries you see just how ridiculous some Americans life styles have become. The 4000 square foot house, unless you have a huge family is nothing except conspicious consumption.

Feeling that pain.

My family of four is doing fine.

But gas prices, rising food costs, daycare for two kids (10k), our health care costs working for a large company went from 3K last year out of pocket to over 5k this year (And we are healthy no prescriptions; a few visits per year for the kids for an ear or sinus infections). It's frustrating when it feels like I’m making less money than when I got married even though my salary has doubled. I think we really need to fix heath care in the US, but that is another topic.

I hope people can be more compassionate and not ridicule other people everyone’s situation is different.