i make $40/h and im still broke

[morecowbell11]

Im not bragging, although i am proud of myself, i know a lot of people make more and a lot make less. Its just that at the end of the month I dont have what i expect to have in my account. i do have a 10 month old, but in all honesty, his diapers, food, toys, etc come to about $400 a month, hes worth it and thats money well spent. I keep my expenses to an absolute minimum, my car is paid off, cell phone and cable are the basic plans. car insurance is a bitch and it costs me about $200 a month even though ive never been in an accident and have only 1 ticket in the last 3 years. I live in queens, i have an average 2 bedroom 1 bath apartment. I feel like im lower middle class. how much money does it take to live comfortably? i couldnt even imagine having enough money to buy a house? houses in my neighboorhood(middle village) go for at least 600,000. who the fuck can afford that.

[MobCounty]

Thats decent scratch. If you can make the same in a place with a lower cost of living, you might think of moving and buying a condo. It's not glamorous, but it's better than being a slave.

We basically had to do that a few years ago. Now our crappy house's price went up over the years. We can almost afford to move where we want to now.

[Alice S. Fuzzybutt]

I don't make as much as you but there would be NO WAY I could survive on a proofreader's salary if I hadn't bought my apt 11 years ago. I live alone and don't have kids but I do manage to save a little every month. For some reason this month was TOUGH and I wound up having to take money out of savings to cover expenses. Like you, I don't spend extravagantly and my car is paid off.

It's tough ALL over! I'm just praying I don't get layed off like so many others at work have.

[Doctor Z]

Trouble is you only work 1 hour a week.

[cougarjake13]

Im not bragging, although i am proud of myself, i know a lot of people make more and a lot make less. Its just that at the end of the month I dont have what i expect to have in my account. i do have a 10 month old, but in all honesty, his diapers, food, toys, etc come to about $400 a month, hes worth it and thats money well spent. I keep my expenses to an absolute minimum, my car is paid off, cell phone and cable are the basic plans. car insurance is a bitch and it costs me about $200 a month even though ive never been in an accident and have only 1 ticket in the last 3 years. I live in queens, i have an average 2 bedroom 1 bath apartment. I feel like im lower middle class. how much money does it take to live comfortably? i couldnt even imagine having enough money to buy a house? houses in my neighboorhood(middle village) go for at least 600,000. who the fuck can afford that.


just a lil quick math

40/ hr x 40 hrs/wk = 1600

1600 a wk x 4 wks/ month = 6400

now im not sure what the taxes are where you are but lets assume 30% thats about 2000$
leaving you with 4400 a month

4400 - 400 (kid) = 4000
4000 - 200 (car ins) = 3800
3800 - 150 (cell&cable) = 3650

apt must be around 1200-1600

3650 - 1600 = 2050

2050 to pay utilities, food, gas, etc

you must be doing something with all that money

keep in mind i may be a lil off with the figures depending on taxes, 401k if you have one and other payments im not aware of

[ahhdurr]

<a href = "http://money.howstuffworks.com/personal-finance/budgeting-saving-money-channel.htm">Develop a budget</a>
<br>
Best part is - when you do a budget, you find that it's not all gritting your teeth and doing without.

[Team_Ramrod]

The best thing I ever did was take control of our finances out of my wifes hands.
The second best thing I ever did was sit down and do a budget.

I sat down in December and wrote out my budget for 2008; I went from going paycheck to paycheck to being able to bank $2000 + a month.

There are so many little purchases we make every month that we don't even think about; at the end of the month we are left scratching our heads. Set yourself (and your spouse) on $100.00/ week to spend on whatever you guys want, once the $100 is gone then you are done.

You'll soon see your account starting to grow.

[K.C.]

Yeah, coke is expensive these days.

[boosterp]

I brought home $4,300 a month my ex wife brought home $1,600. We had her kid (I was like the father) that the actual father paid nothing in child support. I had 2 trucks (one paid off) and paying on a motorcycle, she had just paid off her car. We bought a huge house on a huge lot with a three car garage. Both trucks suck gas, electricity can get pricey here in the summer, and the very nice area we lived in charged a minimum of $100 a month for city services.

Yet, I have no credit cards, we traveled to Mexico twice a year, I spent 2k on computer parts a year, and likely another 2k on tools. we still managed to pay all our bills and stash money away for a rainy day.

Those who recommended a budget are giving you the best advice.

[~Katja~]

Trouble is you only work 1 hour a week.

damn, I was going to make a similar joke...




I wonder if you actually have to live there? how far is work for you and how are the neighborhoods for families closer to your work?
If you work in NJ for example you may end up paying less in insurance and save on gas.
I assume your wife is at home cause my kid costs me 800/ month for daycare alone. That does not include food, diapers and clothes yet.
The thing is if you live in NJ and work in NY you are subject to additional taxes and I think it apples the other way around as well. That brings your paycheck down significantly.
I am guessing you also pay health insurance for the family which takes out a lot more.

Personally I have never set up a budget but maybe I really should.
I start looking over my finances and then end up just living paycheck to paycheck regardless. I started setting most of my regular bills up on auto pay directly around paydays and then have whatever is left to spend for day to day living expenses.


Maybe you should really think how important it is for you to live in that neighborhood and how you could benefit from living elsewhere.
Just think about the tax return you get from your mortgage payment alone.

[grlNIN]

You are most likely throwing your money away on rent and lunch.

That or your wife is a secret spender.

[Drunky McBetidont]

You are most likely throwing your money away on rent and lunch.

That or your wife is a secret spender.

qft

my brother makes about 95,000 a year and lives alone. once he stopped going out to lunch everyday he was able to save 15,000 the first year!!! he always would take a pal from work and pick up the check and he has always been a big tipper. it is amazing how quick that shit adds up. and if you go out to bars in the city you are spending a fortune on drinks (who the fuck pays $9 for a bottle of beer :wacko:)

[AngelAmy]

You'd be amazed at how much money people spend on eating out. People have mentioned it before but try cutting down on buying lunch or dinner and cut back costs on what foods you can.

I also suggest putting money aside in a savings account every week so you have some back up if you need it.

do you have credit cards that you're paying off every month? that crap and accumulate too.

if you're thinking about buying a house maybe you'd want to think about moving to new jersey, long island, or staten island...it may be a little cheaper.

I make 13.41/hr and just manage to scrape by, granted I don't have kids or high rent or anything and I know you're not bragging but it's a kick in the face to see someone making that much money and saying they can't get by

[grlNIN]

It's not that you're not making enough and your money isn't just "disappearing", you or your wife are spending it somewhere, you probably just don't realize it. Or your wife doesn't work and you focus a lot of the money that you don't have verses the money that you do have or spending out of your feasible limit.

I make $12 an hour/get paid biweekly and pay my car, car insurance, 2 credit cards and all other expenses but i always have something to put into a savings account and a school account.

So, you're overlooking something.

[~Katja~]

It's not that you're not making enough and your money isn't just "disappearing", you or your wife are spending it somewhere, you probably just don't realize it. Or your wife doesn't work and you focus a lot of the money that you don't have verses the money that you do have or spending out of your feasible limit.

I make $12 an hour/get paid biweekly and pay my car, car insurance, 2 credit cards and all other expenses but i always have something to put into a savings account and a school account.

So, you're overlooking something.

where do you live and how much is your rent?

my house costs me 1350+ a month on mortgage alone and that is considered cheap. I used to pay 1000 for rent in NJ (6 years ago) so I figured with the tax return at the end of the year it would be worth it to own versus renting.

I can't see living, renting paying bills and expenses & saving money (and with today's gas prices actually driving the car that you pay for) at this rate.




I have to agree on the lunch theory, and I think I will make an effort on bringing my own in the future. My problem is that my 1/2 h lunch is the only time I see the light so I like to just go for a ride and listen to R&F.
Maybe if I cut down to 3 days a week sandwiches and 2 days eating out then I can save a boat load of money.

[jonyrotn]

Set yourself (and your spouse) on $100.00/ week to spend on whatever you guys want, once the $100 is gone then you are done.

Dude, you are 100% right, if this were 1975..$100 won't even cover a single dinner bill for the two of them..
Those numbers are unrealistic in NYC in 2008 where a pack of cigarettes cost $9.50, a mixed drink is $12 parking ticket is $110 and rent in the outer boros is $1600..
I recently went food shopping and walked out with a $278.00 bill and that was for ONE person..Granted I buy nice stuff but I feel like I deserve nice stuff.

I've made $101,000 so far this year and don't manage to save very much of my actual NET salery..I max out on my retirement plans and I pay all my bills then usually have about $1500 extra per month, sometimes I spend it sometimes I don't but if not for a crafty accounant who recovers a lot of my money from the govt in April every year, I probably wouldn't have as much of a savings as I do..

I guess my point is, don't feel like you are not gettin' things done..You may feel like "the working poor" but the trade off for living in the greatest city on earth is, it's gonna fuckin cost you, you're gonna pay through the nose for everything and sometimes for nothing..This is the only place on earth that you get nothing for something..
I bet your $40 per hour would go a long way in Omaha Nebraska but you don't live there do you, you live here, where if someone could figure a way to charge you for air they would..

Good luck man but keep in mind you're doing better then a lot of people so count your blessings! Oh, and kiss your wife and baby.. :smile:

[~Katja~]

[FONT=Lucida Sans Unicode]I recently went food shopping and walked out with a $278.00 bill and that was for ONE person..Granted I buy nice stuff but I feel like I deserve nice stuff.


This and the other things you mentioned should put it in relation to anyone not living in the city.

I shop for 2 and usually walk out between 100- 150 / week and that is not all nice and good food... it's the best I can get for what I can afford. I wish I could always buy the freshest ingredients and shop at wholefood places and such. (and I don't even live in the city, this is for PA)

Life in 2008 is way more expensive than it was in 2000.

[grlNIN]

where do you live and how much is your rent?

my house costs me 1350+ a month on mortgage alone and that is considered cheap. I used to pay 1000 for rent in NJ (6 years ago) so I figured with the tax return at the end of the year it would be worth it to own versus renting.

I can't see living, renting paying bills and expenses & saving money (and with today's gas prices actually driving the car that you pay for) at this rate.




I have to agree on the lunch theory, and I think I will make an effort on bringing my own in the future. My problem is that my 1/2 h lunch is the only time I see the light so I like to just go for a ride and listen to R&F.
Maybe if I cut down to 3 days a week sandwiches and 2 days eating out then I can save a boat load of money.

I actually don't pay rent because my boyfriend and i are living with his family until we finish school in order to save money.

Previously i was paying $600 a month in rent.

You could also make sandwiches to eat as you're driving.

[~Katja~]

I actually don't pay rent because my boyfriend and i are living with his family until we finish school in order to save money.

Previously i was paying $600 a month in rent.

You could also make sandwiches to eat as you're driving.

yes, that was what I was thinking as I walked towards my car for lunch today
I still can get the listening hour and look all weird schlepping my sandwiches into my car and never leaving the lot...LOL
But I just thought out the costs and it could save me at least 20-30 bucks a week. by the end of the month that adds up.
I was never a big lunch spending person but when a sandwich at a whole food deli costs me 9 bucks then it quickly adds to the hole in my pockets.

Living with family is a smart thing to do when you are young and without kids.
If you are able to put a lot of money away then you will be able to buy a house once school is over and the "real" life begins.

[Yuppie_Scum]

I recommend you make some shrewd investments in winning lottery tickets.

[RoseBlood]

[QUOTE=jonyrotn;1823859]I recently went food shopping and walked out with a $278.00 bill[QUOTE]


That's stealing! Thief! ! I'm reporting you! :tongue:

[Alice S. Fuzzybutt]

I bring my lunch and dinner to work everyday (it helps that there is no where around here to get food other than a grease truck). I save a bunch of money that way.

Another trick I do is "pay myself first." Along with my 401k contribution, I automatically have a certain amount put into my savings account (I have direct deposit). I don't even notice the money is "gone." You learn to work with less money.

[Death Metal Moe]

It's just the vicious circle of 'The more you make the more you spend.'

I used to make a very nice wage with the union, and I just ended up spending it on different, more expensive things.

Now that I make about half of what I was in the union I just don't have those things but I still have very close months from time to time.

[Philly Franko]

:drunk::thumbup::king::smile:You Da Man Boosterp...very Nice . I make About $30 an Hour with nice Benefits...never had crap till I Quit Sports Gambling and A Little Partying years back... only Drink a few beers on weekdays and Vodka and Juice(No SUGAR ADDED) on weekends and on Vacation. I put over 10 K in the Bank .Paid the IRS 7K in 60 Days and can Do what I want now. Bugets Are the key.went to Philly Eagles Game Last night...$20 to Park got a Club Box Seat for $30...a $140 Ticket...Got beers food etc another $40 or so...Great time great Game and Come Back...Down 13-0 in 4th Qtr...Eag,s scored 24 Unanswered Pts to win it. EAGLES Eagles....Looking forward to the NYG games...hope to see ya in the Playoffs if you all make it. Good Luck... Loved it when G Men Beat GQ Boy Brady and Co....Bill Belicheat as the NY Post calls Him. I Get NY Papers and Philly and Local and USA Today...the NY POst Rules..read it every Day...Sports writers are Cold up there..Fans Too...On Vacation...Going to Atlantic City to Eat best Food Drink Best Liquor and Play with Finest Women. God Bless all the Ron Fez Fans...Love reading and Posting Here. Ronnie B Rules and Fezzie too.... Franko...South of Philly.

[boosterp]

:drunk::thumbup::king::smile:You Da Man Boosterp...very Nice . I make About $30 an Hour with nice Benefits...never had crap till I Quit Sports Gambling and A Little Partying years back... only Drink a few beers on weekdays and Vodka and Juice(No SUGAR ADDED) on weekends and on Vacation. I put over 10 K in the Bank .Paid the IRS 7K in 60 Days and can Do what I want now. Bugets Are the key.went to Philly Eagles Game Last night...$20 to Park got a Club Box Seat for $30...a $140 Ticket...Got beers food etc another $40 or so...Great time great Game and Come Back...Down 13-0 in 4th Qtr...Eag,s scored 24 Unanswered Pts to win it. EAGLES Eagles....Looking forward to the NYG games...hope to see ya in the Playoffs if you all make it. Good Luck... Loved it when G Men Beat GQ Boy Brady and Co....Bill Belicheat as the NY Post calls Him. I Get NY Papers and Philly and Local and USA Today...the NY POst Rules..read it every Day...Sports writers are Cold up there..Fans Too...On Vacation...Going to Atlantic City to Eat best Food Drink Best Liquor and Play with Finest Women. God Bless all the Ron Fez Fans...Love reading and Posting Here. Ronnie B Rules and Fezzie too.... Franko...South of Philly.

Thanks! :drunk:

I also did all that while maxing two retirement accounts and contributing to an IRA.

I am single now and spend no more than 300 a month on groceries because I shop smartly and with coupons.

I was to retire at 40 with the way I set everything up, unfortunately at 35 I had to retire too early and now I am on a fixed income which is half of my previous bring home. Two months after retiring I still I still have 7k in the bank.

[Alice S. Fuzzybutt]

It's just the vicious circle of 'The more you make the more you spend.'

I used to make a very nice wage with the union, and I just ended up spending it on different, more expensive things.

Now that I make about half of what I was in the union I just don't have those things but I still have very close months from time to time.

As Biggie said, "Mo money, mo problems."

It really is true about spending more when you make more. I was at job that paid about $6,000 more per year than I'm making now. I HATED that job SO much so I constantly shopped for clothes, CDs, DVDs, and other crap to help fill the void. I WAS saving at the time, but when I think about all the crap I bought just because I HATED that job with every fiber of my being it makes the $6k pay cut and pb&j sammiches worth it.

One thing that I have in my favor: I don't smoke. What is a pack up to in the tri-state area? $6.50?