I’m 34, married with two kids. Wife is full time with the kids.

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Jan 15, 2022
12:50:26pm

JohnnyC Starter

I’m 34, married with two kids. Wife is full time with the kids.

I make low 70k, have a 4 bed house in Eagle Mountain. Mortgage is 1680 per month. Contribute 5% to my 401k, full contribution to HSA (600 per month). After all bills are paid, we have 850 left over for food, clothing, gas and activities.

One thing is we purchased a condo when we first got married over 8 years ago, sold that a purchased a townhouse. 18 months ago we purchased our current home. Rolling the home equity with each move.

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JohnnyC

Previous username: DumBass
Bio page: JohnnyC
Joined: Aug 13, 2019
Last login: May 3, 2024
Total posts: 12,088 (372 FO)

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Messages

Author

Time

This week I learned of 3 employees at my organization that work second jobs to

1/15/22 7:35am

I assume they have families.

Mister P

1/15/22 7:36am

Yes.

1/15/22 7:36am

Sounds like a spending issue as much as anyrhing

1/15/22 7:37am

Or an alimony/child support problem

HingleMcCringleberry

1/15/22 7:41am

Or medical bills. We have no idea.

garyfan

1/15/22 7:41am

Harsh to say, but probably largely true. Make some lifestyle adjustments and the

shoganai

1/15/22 7:41am

Does that spending include housing? Student loan payments? Children?

ReyOso

1/15/22 8:12am

How much house? How much on cars? Trips and hobbies?

1/15/22 8:21am

A car is a necessity. The median house in Utah is over 500,000 right now.

ReyOso

1/15/22 8:22am

It’s $425k. And again, which car? A civic commuter or that brand new car?

1/15/22 8:25am

In June 2021, the median price for a single Fam home in SL County was $550k and

1/15/22 8:39am

So he just now bought a house?

NorCal_Coug

1/15/22 8:45am

Some people have 2 40-50k cars and think it's normal

ochobeeguy

1/15/22 10:17am

How many 40" tvs?

cracka

1/15/22 8:32am

They may not still live with their parents.

Future_Tacos

1/15/22 8:21am

I had a second job when I was younger. It stinks, but you gotta do what you gotta do.

John Doe

1/15/22 7:37am

$70k doesn't pay the bills? Do they live in Southern California?

The Dark Knight

1/15/22 7:42am

Even in SoCal 70k is doable with a modest number of lifestyle sacrifices.

shoganai

1/15/22 7:44am

Yes. Like living in Commerce or San Bernadino.

byubyu

1/15/22 7:45am

The median family income in LA County was less than $50k last I checked.

shoganai

1/15/22 8:02am

Hello, just swooping in to say $70k in LA with a family is horrible

runitup590

1/15/22 8:25am

^^^this

643

1/15/22 8:32am

And the median home/apt/shack is a poop hole.

byubyu

1/15/22 8:39am

Depends on how much of a commute you'll tolerate.

shoganai

1/15/22 8:47am

Like I said, San Bernardino.

byubyu

1/15/22 8:51am

Is there something wrong with that?

shoganai

1/15/22 9:01am

If you work in LA? Yes, absolutely there’s something wrong with that

runitup590

1/15/22 9:05am

Like i said, every place has its trade-offs.

shoganai

1/15/22 9:14am

*Alert for CBers looking to simplify your financial life for your family:

runitup590

1/15/22 9:55am

You realize how incredibly arrogant that comes off as, right?

shoganai

1/15/22 10:01am

I think you can be blamed for choices within your power

EQD2

1/15/22 10:33am

I’m saying this as someone with experience, so call it arrogant if you want

runitup590

1/15/22 11:05am

You're not the only one on this thread with first-hand experience in SoCal.

shoganai

1/15/22 12:56pm

RE: *Alert for CBers looking to simplify your financial life for your family:

1/15/22 1:46pm

Those are more than trade-offs at this point

1/15/22 11:31am

That's why I brought up Southern Cal.

The Dark Knight

1/15/22 9:50am

What’s the best way to offload 4 kids? That would really help. Asking for friend

WDaddy

1/15/22 7:50am

And that friend is me

Odysseus

1/15/22 7:57am

I live in so cal and this is absolutely not true

1manwolfpack

1/15/22 11:31am

CB, where everyone makes 150k+, but also 70k is enough

I'mnotacber

1/15/22 8:16am

I'll be the first to admit I make less than $70K

The Dark Knight

1/15/22 11:42am

I'll be first to admit my wife makes over a $150K;-)

CariocaCoug

1/16/22 9:12am

The federal Low income level for a family of 5 in LA county is 102K. If you pay

Jay Kay

1/15/22 10:10am

RE: $70k doesn't pay the bills? Do they live in Southern California?

Socrates Johnson

1/16/22 3:37pm

That doesn't seem like a bad thing. If you want more money, then add another income stream

Odysseus

1/15/22 7:43am

That sucks. But I admire their drive and determination to make ends meet. A lot

WDaddy

1/15/22 7:44am

Not sure why so much judgment here. Maybe they’re trying to pay for their

Memmo

1/15/22 7:54am

No judgement, just clarification. That's not "just paying the bills"

The Dark Knight

1/15/22 8:02am

That's somewhat true. But some folks don't want to live an hour from their work just so they can afford a house.

John Doe

1/15/22 8:07am

That's kind of funny. Doesn't want to live an hour away so works extra job to

Pick-Six Coug

1/15/22 11:49am

I can see both sides of that decision.

John Doe

1/16/22 1:00pm

Sure agreed. But you reading a lot into the OP. Few of us are financial wizards

Memmo

1/15/22 8:09am

I guess it depends on how you define basic necessities.

ReyOso

1/15/22 8:16am

The median home is no longer attainable with a median income.

shoganai

1/15/22 8:28am

Like I said, they are struggling to pay for extras.

The Dark Knight

1/15/22 8:35am

I make about that, the struggle is definitely real

1/15/22 8:01am

I can’t imagine starting out right now from a homeownership standpoint. At least you’re building equity in the townhome

Odysseus

1/15/22 8:16am

$70k is perhaps $4500/mo take home. If they’re just starting out, and the

valleus

1/15/22 8:07am

And it's highly dependent on location. My rent in SF is $4,300 for a 3 bedroom.

ReyOso

1/15/22 8:19am

Oh yeah. I think they often take a 1hr Bart from Richmond. It’s very hard.

valleus

1/15/22 11:10am

This- 75k is maybe 4500 take home. Rent is likely half of that

1984coug

1/15/22 8:29am

I’m 34, married with two kids. Wife is full time with the kids.

JohnnyC

1/15/22 12:50pm

If it is in Utah, it wouldn't surprise me due to housing costs here.

Fido

1/15/22 8:21am

Medial home price in SLC area is north of $400k and most are well above that.

Fido

1/15/22 8:25am

It’s actually north of $500k now.

RdF3

1/15/22 8:26am

Sadly this is my wife and I right now. No kids yet and we make a little bit more

provoprodigy

1/15/22 8:43am

Yep. Thank the Chinese government and their lax hygiene standards and

BlooCoog

1/15/22 9:10am

Yeah, this post was definitely all about China...

ochobeeguy

1/15/22 10:21am

Covid has had a HUGE impact on housing prices. It's affecting my family. The

BlooCoog

1/15/22 10:27am

Definitely has had an effect on the economy in general and how we approach

Armchaircoug

1/15/22 10:46am

Do you think they are doing the extra hours to just get by... or are they doing it to get ahead/provide a better than

HarlemCoug

1/15/22 10:27am

Currently making 60k. Cars paid off, and not living paycheck to paycheck.

Powerbait DPM

1/15/22 10:35am

Are you going to be a doctor?

stoils

1/15/22 10:42am

Yes, currently in residency. So my income will certainly increase but I’ve

Powerbait DPM

1/15/22 11:43am

When did you buy your home?

RdF3

1/15/22 10:46am

Bought it in may of 2020.

Powerbait DPM

1/15/22 11:43am

I knew a guy making ~80k who drove for Uber Eats. Senior enlisted in the

califcougar

1/16/22 7:15pm

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