^^^what in your opinion are they doing wrong if anything at all?
What Are They Doing Wrong
- Thread starter ChicagoFigure
- Start date
^^^what in your opinion are they doing wrong if anything at all?
Playmaker88
G Money is Cash
saw that shit on twitter..thats ignorant as fuck..straightup stupdity
I wanna know what childcare costs 21k per child
I'd also cut down on vacation budget and not bought a $1.5 mil house, 2 expensive vehicles with student loans still lingering.
Elzo69Renaissance
Niggas online ratting then calling it content
Conditioned
deadeye
Warrior
Usually, the more money you make.........the more expenses you have.
Basically, using the example in your post, most people making $500,000/yr aren't going to live like they're only making $100,000/yr.
Just looking at the chart, however, the biggest problem is the $1.5 million home.
Between the mortgage, property taxes, and homeowner's insurance.........they're spending almost $90,000/yr. ($87,500 to be specific)
The next unnecessary expense is spending $18,000/yr on 3 vacations.
However, the most important thing that stands out is at the top of the chart, which shows you that $500,000 isn't really $500,000 once you factor in the 40% tax rate.
Minus the 401K contributions and taxes, their net salary is $278,400........which would be more than enough if they weren't living in a $1.5 million home that was costing them almost $90,000/yr.
Kids are expensive too.
$42,000/yr in childcare???
They'd actually be better off with the wife staying at home and living in a house whose mortgage wasn't much more than $300,000.
That would wipe out the $42,000/yr in childcare(which I'm assuming was mostly daycare).........and the housing expenses would be closer to $30,000 instead of $90,000.
So, between daycare and housing expenses, they'd save about $100,000/yr if the wife stayed at home and they had a cheaper house.
IP360
Doctorate & Ph.D in Bootyology
Shit it aint even the childrens fault. Wipe out that childcare shit n extracurricular activities they can pay off their house much quicker. Those are the parents decisions.
Or even go 2 years without an expensive vacation n the student loan debt is wiped out.
If they both lost their jobs they wouldnt last a month before having to dig into their 401k.
Goes to show how important money management is vs earning
Hell naw they dont. Only thing i can say they did right was max out their 401k contributions.
When i switched jobs n more than doubled my salary still took me another 4 yrs to get rid of my 10+ yr old car that was beat up by the time i finally let go n got something newer.
To these 500k earning mfs thats probably crazy. But it looks like even i got more money to burn than they do smh.
They have four kids in childcare? Paying $875 for all of them a month.
That’s about right in some cases.
That’s about right in some cases.
Its a family of 4 with 2 children.
Trippin!!!!
Playmaker88
G Money is Cash
Everything on that list could be done differently everything its about entitlement lack of priortization and conspicuous consumption and privilege
Clark Griswald didnt spend 18k a year on trips
Clark Griswald didnt spend 18k a year on trips
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I think the article was made to say that this is what the economy and high cost of living is doing to us
But those mfs are doing it to themselves.
