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emilain
UNREAL!!!!!!!!
Member since 5/05 4457 total posts
Name:
Mama
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Re: Household Income?
We make a really nice income combined, if we lived outside of NY we would be considered really rich, but with 3 kids, a mortgage, school loans, car payments, private school payments, putting lots of money away monthly for the kids' college funds, our life ins policies, LIPA, oil, etc, we end up with not much left in the bank at the end of the month.
We also put away for vacations since my hubby owns his business so he makes no $ when we are away. We vacation 2/year, nothing crazy, we spend a week or so in Montauk and literally sit on the beach all day (cheap!).
It is tough surviving on LI even if you make a big salary, we are finding that out!
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Posted 3/28/06 8:35 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Household Income?
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
Everyone is entitled to their own opinion, but I think this is a little harsh. We don't live a "high lifestyle with big expensive cars and vacations" either. You do not know everyone's situation and should think before typing.
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| Posted 3/28/06 9:15 AM |
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Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
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Re: Household Income?
Posted by lorich
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
Everyone is entitled to their own opinion, but I think this is a little harsh. We don't live a "high lifestyle with big expensive cars and vacations" either. You do not know everyone's situation and should think before typing.
I agree. It's absolutely fruitless to compare the housing costs and standard of living 10 years ago with today. It's a whole different ballgame. Not only that, even a family making a decent income may have extraordinary expenses, that don't necessarily indicate they are "big spenders". With myself, for example, I have to pay off my law school loans. My husband and I always purchase used cars, rarely take "big" vacations, and rarely go out to eat. But with a baby, a mortgage, school loans, etc, my life wouldn't be nearly as comfortable living on LI as it is in Philadelphia...
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| Posted 3/28/06 9:34 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Household Income?
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
That's kind of ridiculous to say. Housing prices have increased exponentially in the past 10 years. You got in at a good time, but in '96 I was in high school and didn't have that luxury.
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| Posted 3/28/06 9:44 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Household Income?
Posted by lorich
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
Everyone is entitled to their own opinion, but I think this is a little harsh. We don't live a "high lifestyle with big expensive cars and vacations" either. You do not know everyone's situation and should think before typing.
I think what you could get 10 years ago, house wise, with a 35k salary, you might need 100k + now.
I just checked my home's history. In 1998, 8 years ago, it sold for $141,500. When we bought it in 2005, we paid $340,000.
Message edited 3/28/2006 9:50:14 AM.
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| Posted 3/28/06 9:45 AM |
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smiles
Life is good!
Member since 2/06 1450 total posts
Name:
S
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Re: Household Income?
Posted by nov04libride
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
That's kind of ridiculous to say. Housing prices have increased exponentially in the past 10 years. You got in at a good time, but in '96 I was in high school and didn't have that luxury.
10 years ago prices were so low compared to now. You can not find a decent house for less than 400k. The downpayment alone is tough. My husband and I clear 150k and we do not spend on frivolous things. We have the same car payments and daycare payment as everyone else. We own a home and can make it on LI but just barely. LI is getting ridiculous and your comments were ridiculous as well.
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| Posted 3/28/06 9:49 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Household Income?
Oh god daycare! I don't know how we'll ever be able to afford daycare!
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| Posted 3/28/06 9:51 AM |
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smiles
Life is good!
Member since 2/06 1450 total posts
Name:
S
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Re: Household Income?
Posted by MsG
Oh god daycare! I don't know how we'll ever be able to afford daycare!
Daycare sux!!!! 1200.00 a month.
Not something you can skimp on either. When it comes to your child you want the best for them. Still sux though.
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| Posted 3/28/06 10:12 AM |
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oneday
<3
Member since 5/05 4319 total posts
Name:
Pam
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Re: Household Income?
While I agree that comparing 10 years ago to now is useless, saying that there are NO decent houses under $400K is also ridiculous. I bought a home, and it was definately under $400K (1 1/2 years ago) and it is more then decent. It's not huge - but it's a nice size, 3 bedrooms. It is further out east on the island in a nice neighborhood, but to say you can't find a decent house is silly. Perhaps that area doesn't serve your needs, but it is possible.
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| Posted 3/28/06 10:18 AM |
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LAMGAJ28
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Member since 10/05 6039 total posts
Name:
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Re: Household Income?
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
You have a point in terms of people wanting more and living beyond their means. I think the one number problem is debt of any kind. Anyone that has debt should try to eliminate that first and then start saving. If you do the math with the interest rates and the savings you are accumulating with the money that you are saving, they don't even come close. Everyone should have some emergency money but there is no sense in saving when your debts are a higher chunk of the money you are putting away. You are better off concentrating in one debt at a time, eliminate it and continue with all the bills until they are paid off. Then when you start saving, you will really see a difference on how much money you can save and how much faster you are doing so. We live on my husband's salary and we save mine on its entirety. We have no credit card bills but only car payments. We don't have extravagant lifestyles but we go out to eat often and we pretty much buy whatever we need and want. This will probably change once we start having children until then....
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| Posted 3/28/06 10:22 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Household Income?
Posted by smiles
Posted by MsG
Oh god daycare! I don't know how we'll ever be able to afford daycare!
Daycare sux!!!! 1200.00 a month.
Not something you can skimp on either. When it comes to your child you want the best for them. Still sux though.
Before I had a m/c I was soooo stressing over day care. I really had no idea where the $$ would come from. DH was going to get a second job, which I wasn't thrilled about, b/c when would he see the little one? And he works a lot of OT as it is. Daycare is like another mortgage, a smaller one, but still!
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| Posted 3/28/06 10:24 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: Household Income?
Posted by oneday
While I agree that comparing 10 years ago to now is useless, saying that there are NO decent houses under $400K is also ridiculous. I bought a home, and it was definately under $400K (1 1/2 years ago) and it is more then decent. It's not huge - but it's a nice size, 3 bedrooms. It is further out east on the island in a nice neighborhood, but to say you can't find a decent house is silly. Perhaps that area doesn't serve your needs, but it is possible.
I obviously can't speak for everyone, but I think *most* people on here need to live further west, b/c of where they work. When we were looking last spring, we didn't see anything that didn't need A LOT of work for less than 375 in Western Suffolk.
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| Posted 3/28/06 10:26 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Household Income?
Posted by MrsFresca
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
You have a point in terms of people wanting more and living beyond their means. I think the one number problem is debt of any kind. Anyone that has debt should try to eliminate that first and then start saving. If you do the math with the interest rates and the savings you are accumulating with the money that you are saving, they don't even come close. Everyone should have some emergency money but there is no sense in saving when your debts are a higher chunk of the money you are putting away. You are better off concentrating in one debt at a time, eliminate it and continue with all the bills until they are paid off. Then when you start saving, you will really see a difference on how much money you can save and how much faster you are doing so. We live on my husband's salary and we save mine on its entirety. We have no credit card bills but only car payments. We don't have extravagant lifestyles but we go out to eat often and we pretty much buy whatever we need and want. This will probably change once we start having children until then....
It depends on the rates of the debt. My student loan was reconsolidated at 1.5%, and I am getting 4.2% on my money in a CD, so it makes sense NOT to pay off the loan in it's entirety as soon as we can.
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| Posted 3/28/06 10:30 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Household Income?
It's almost not worth both parents working with the cost of day care!
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| Posted 3/28/06 10:30 AM |
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LAMGAJ28
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Member since 10/05 6039 total posts
Name:
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....
Message edited 9/25/2011 3:04:45 PM.
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| Posted 3/28/06 10:31 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Household Income?
Posted by MrsFresca
Posted by nov04libride
Posted by MrsFresca
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
You have a point in terms of people wanting more and living beyond their means. I think the one number problem is debt of any kind. Anyone that has debt should try to eliminate that first and then start saving. If you do the math with the interest rates and the savings you are accumulating with the money that you are saving, they don't even come close. Everyone should have some emergency money but there is no sense in saving when your debts are a higher chunk of the money you are putting away. You are better off concentrating in one debt at a time, eliminate it and continue with all the bills until they are paid off. Then when you start saving, you will really see a difference on how much money you can save and how much faster you are doing so. We live on my husband's salary and we save mine on its entirety. We have no credit card bills but only car payments. We don't have extravagant lifestyles but we go out to eat often and we pretty much buy whatever we need and want. This will probably change once we start having children until then....
It depends on the rates of the debt. My student loan was reconsolidated at 1.5%, and I am getting 4.2% on my money in a CD, so it makes sense NOT to pay off the loan in it's entirety as soon as we can.
No matter how small the interest is, you are paying interest any way you slice it. The money that you are paying even if a small amount can be in your pocket after the debt is paid off instead of theirs.
I don't see how that's really true, if the money in your savings is making more money than the itnerest you're paying on the loan? Also, I've been told by a lot of people that it doesn't make sense to use your savings to pay off college loans because 1) the rate is low and 2) it's "good debt", and you can get more credit improvement benefits by paying it off on time, rather than paying it all at once.
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| Posted 3/28/06 10:34 AM |
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nov04libride
big brother <3
Member since 5/05 14672 total posts
Name:
Me
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Re: Household Income?
Posted by MrsFresca
Posted by nov04libride
Posted by MrsFresca
Posted by hazeleyes33
I find all of this amazing. I guess we just don't live a high lifestyle with big expensive cars and vacations but when we bought our house almost 10 years ago (yes, it was quite cheap), we were only making $35,000 combined! I still have our paychecks when we first got married to see how much we survived on and we made a total of $316 take home a week!! We lived in an apartment at that time but all our bills were always paid.
I think people just want more and more and don't realize that they make ALOT of money.
You have a point in terms of people wanting more and living beyond their means. I think the one number problem is debt of any kind. Anyone that has debt should try to eliminate that first and then start saving. If you do the math with the interest rates and the savings you are accumulating with the money that you are saving, they don't even come close. Everyone should have some emergency money but there is no sense in saving when your debts are a higher chunk of the money you are putting away. You are better off concentrating in one debt at a time, eliminate it and continue with all the bills until they are paid off. Then when you start saving, you will really see a difference on how much money you can save and how much faster you are doing so. We live on my husband's salary and we save mine on its entirety. We have no credit card bills but only car payments. We don't have extravagant lifestyles but we go out to eat often and we pretty much buy whatever we need and want. This will probably change once we start having children until then....
It depends on the rates of the debt. My student loan was reconsolidated at 1.5%, and I am getting 4.2% on my money in a CD, so it makes sense NOT to pay off the loan in it's entirety as soon as we can.
No matter how small the interest is, you are paying interest any way you slice it. The money that you are paying even if a small amount can be in your pocket after the debt is paid off instead of theirs.
Paying interest, but the bank interest on the same money is nearly 3% more, so it's still making money not paying. If I change the money from the CD to pay off the loan in it's entirety, then I would not be getting the CD interest, which is that much more than the interest on the loan. I would be losing money paying it all off.
If you look at it like I'm not paying the interest on the school loan, my CD interest is, and I am getting an additional 3% just for me after paying the loan, then it doesn't really make sense to say the loan interest could be mine after the debt is paid off.
Message edited 3/28/2006 10:40:00 AM.
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| Posted 3/28/06 10:36 AM |
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nferrandi
too excited for words
Member since 10/05 18538 total posts
Name:
Nicole
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Re: Household Income?
Posted by marymoon
It's almost not worth both parents working with the cost of day care!
That's a big part of why I left my full time job after 4 years and now work part time. I went back to teaching dance with my mom and even though I make less then at my f/t job, it's not by much and I only work 4 afternoons a week and will have family day care for those few hours in between when I go to work and when DH gets home from work. The difference in salaries is till less than day care and I get to raise my own kids.
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| Posted 3/28/06 10:37 AM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Household Income?
Posted by oneday
While I agree that comparing 10 years ago to now is useless, saying that there are NO decent houses under $400K is also ridiculous. I bought a home, and it was definately under $400K (1 1/2 years ago) and it is more then decent. It's not huge - but it's a nice size, 3 bedrooms. It is further out east on the island in a nice neighborhood, but to say you can't find a decent house is silly. Perhaps that area doesn't serve your needs, but it is possible.
I agree with this. We are starting to look and since we are looking in Nassau, I know that for what we want, we will probably not be able to find anything for less than $450k. However, if we were willing to move to some parts of Suffolk, or other areas in Nassau and were more flexible with the criteria (# of bedrooms and baths, basement, garage, etc.) we could find something closer to $400k or under. My student loans are paid off, and I know that puts us in a better position to buy too. There are a lot of factors that go into this and you can't really generalize, since what might work for one person, amy not work for another.
I am not trying to point fingers at anyone in particular, but I think what puzzles some people is that sometimes you hear people saying they can't afford a house, but you see posts where people are saying they are willing to spend $1000 on a purse. It doesn't mean everyone is doing that, but I see this with people I know socially, (not on this site) and I wonder how they don't see how they are spending money on things that are unnecessary, and this just keeps them from achieving their dream of buying a house.
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| Posted 3/28/06 10:37 AM |
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LAMGAJ28
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Member since 10/05 6039 total posts
Name:
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Re: Household Income?
Posted by marymoon
I don't see how that's really true, if the money in your savings is making more money than the itnerest you're paying on the loan? Also, I've been told by a lot of people that it doesn't make sense to use your savings to pay off college loans because 1) the rate is low and 2) it's "good debt", and you can get more credit improvement benefits by paying it off on time, rather than paying it all at once.
You can always use your credit cards to pay your bills and at the end of the month, pay it off completely and your credit record will be excellent. And even if the rate is low, you are still paying interest for that "good debt". I think debt is one of the reasons many people are never able to stay afloat. You keep the student loan, then you have car payments added and then you also have mortgage loans. And like I said before, when you do all the math and you see the money that these creditors make on your money owed long term, it's better than it's in your pocket than in theirs. Then you will be able to save a bigger amount of money and the CD rate will be even higher. JMO
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| Posted 3/28/06 10:41 AM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19457 total posts
Name:
L
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Re: Household Income?
Posted by dpli
Posted by oneday
I am not trying to point fingers at anyone in particular, but I think what puzzles some people is that sometimes you hear people saying they can't afford a house, but you see posts where people are saying they are willing to spend $1000 on a purse. It doesn't mean everyone is doing that, but I see this with people I know socially, (not on this site) and I wonder how they don't see how they are spending money on things that are unnecessary, and this just keeps them from achieving their dream of buying a house.
I think you hit the nail on the proverbial head with your last statement. We all make choices about what to spend our money on. For DH and my self we spend it on our mortgage, other people might want to put the $$$ to fancy cars, expensive clothing, vacations, education, etc. It is all a choice and people do what makes them happy.
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| Posted 3/28/06 10:41 AM |
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JenniferEver
The Disney Lady
Member since 5/05 18163 total posts
Name:
Jennifer
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Re: Household Income?
That's a big thing. Everyone's needs and priorities are different. Some people need a new car and won't buy a used one. Some people have to have the latest clothes for work or preference. Some people go on 2 or 3 vacations a year, and some people don't go for 10 years. Everyone is going to have different priorities in the end, so it doesn't really make sense to criticize. Could I have a house sooner if I shared a car with my FH, or if I bought my clothes at Kmart? Probably, but I'm not willing to make those sacrifieces. I have a friend who has a different $1K+ handbag and $500 pair of shoes for every day of the week...naybe for 2 weeks... and she complains about her law school debt....but in the end , she's the one who's gotta pay those bills, not me... and I'm the only one who's gotta pay mine, so, to each her own!
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| Posted 3/28/06 10:47 AM |
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LAMGAJ28
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Member since 10/05 6039 total posts
Name:
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Re: Household Income?
Posted by dpli
Posted by oneday
While I agree that comparing 10 years ago to now is useless, saying that there are NO decent houses under $400K is also ridiculous. I bought a home, and it was definately under $400K (1 1/2 years ago) and it is more then decent. It's not huge - but it's a nice size, 3 bedrooms. It is further out east on the island in a nice neighborhood, but to say you can't find a decent house is silly. Perhaps that area doesn't serve your needs, but it is possible.
I agree with this. We are starting to look and since we are looking in Nassau, I know that for what we want, we will probably not be able to find anything for less than $450k. However, if we were willing to move to some parts of Suffolk, or other areas in Nassau and were more flexible with the criteria (# of bedrooms and baths, basement, garage, etc.) we could find something closer to $400k or under. My student loans are paid off, and I know that puts us in a better position to buy too. There are a lot of factors that go into this and you can't really generalize, since what might work for one person, amy not work for another.
I am not trying to point fingers at anyone in particular, but I think what puzzles some people is that sometimes you hear people saying they can't afford a house, but you see posts where people are saying they are willing to spend $1000 on a purse. It doesn't mean everyone is doing that, but I see this with people I know socially, (not on this site) and I wonder how they don't see how they are spending money on things that are unnecessary, and this just keeps them from achieving their dream of buying a house.
You couldn't have said better. Many people just leave beyond their means. And like you, I know many people with lavish lifestyles(and they are homeowners too) that they can't really afford or they put all their spendings on credit cards and not pay it at the end of the month. I'm one of those who think that if you are going to use your credit card, you should be able to pay the balance at the end of month. If you are not,, you are just giving your money away. And there are people that go and buy things on "sale" with their credit cards and then carry the balance for a long time....then that sale item is no longer that. You are probably paying even more for it.
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| Posted 3/28/06 10:47 AM |
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lullabella
LIF Adult
Member since 5/05 2246 total posts
Name:
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Re: Household Income?
Posted by marymoon
It's almost not worth both parents working with the cost of day care!
Obviously this depends on how much you make, whether or not you need health insurance, etc.... For me it made sense to go back to work, even with the cost of daycare. I could have stayed home, we would have had to change our spending habits, which would have been ok but in the end I decided I like working so I went back.
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| Posted 3/28/06 10:48 AM |
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patti08
Happy
Member since 5/05 3893 total posts
Name:
Patti
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Re: Household Income?
You should try using Quicken or Microsoft Money. It changed our spending habits drastically, we were able to see our debt disappear and save for a house that we know is within our means.
Before we spoke to our accountant we thought we couldn't afford what we bought but in actualilty, we bought a house $70K higher than originally planned, we are making extra payments to mortgage and saving more than we thougth we would each month.
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| Posted 3/28/06 10:49 AM |
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