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How Much Money Does a Frum Family unit Demand??
i, 2 Adjacent
  | Forum -> Household Management -> Finances | |
amother
  Bisque |  Sun, Oct 25 2015, 10:x pm How much does a family unit with six kids living in Lakewood need to brand?
I'm hearing very dissimilar numbers from unlike people. I person told me $110,000, another person told me $200,000, and another person told me $sixty,000. My hunch is that no affair how much you make, it is never enough, and many people just make practice with what they accept, forth with assist from the government programs. I would really dearest to hear real numbers from people! | | | | Back to top | ii 3 |
amother
Chartreuse | Dominicus, Oct 25 2015, 10:19 pm | It all depends on your standard of living. | | | | Back to top | 0 ten |
amother
Chartreuse | Sun, Oct 25 2015, 10:24 pm | It simply such a broad question. How much is tuition for each child? lx,000 sounds low to me. | | | | Back to top | 0 three |
amother
Ivory | Dominicus, Oct 25 2015, 10:30 pm | Just discussed this with a friend today! Both of our husbands make over 100K (I would imagine her DH does equally he's a professional). I accept 4 kids, she has 7. We both said that despite our husbands salary we practice non feel like we have money for actress luxuries. We think and save up before buying a new sheitel. We don't just make impulse purchases. Notwithstanding, nosotros do both have tutors for our sons (as our DH'south work very long hours). To united states of america its a necessity, but if my hubby was making one-half the bacon, I would not be spending $300 a month for someone to practice homework with my kid. I would probably not ship my daughter to piano lessons, no matter how talented she is. And so aye, every bit yous get more money your former luxuries get necessities and at that place are still stuff that you can't afford. Also - nosotros both pay for health insurance. That's over $15k a year, which if we would exist making 50K we would non take to pay for. Ditto for full tuition. | | | | Back to top | 0 one |
amother
Coral | Sun, October 25 2015, eleven:05 pm Yous have to sit down downward with one of those fiscal planning charts and figure out how much everything would cost. We did that once with a financial planner and figured out we needed to offset at almost 125,000. We had 5 kids and so and live in the Midwest.
I feel similar when you are raising frum kids all you actually need is a coin tree. The expenses never seen to end! | | | | Back to top | 0 4 |
amother
White | Sunday, October 25 2015, eleven:08 pm | Is in that location some cutoff point where people don't pay full tuition? Also, how much lower reduced tuition really is? I now have edifice funds bills, does everyone really pay these amounts without bug? Even those that are having difficult time with tuitions and or those who oasis't saved for their ain house yet? | | | | Dorsum to meridian | 0 0 |
amother
Babyblue | Mon, Oct 26 2015, 12:33 am How many kids?
Ain or rent? How large a place?
What do you call "living"? Rice and beans for dinner versus eating out a lot or having steak?
Buying a new sheitel whenever we desire?
Extra curricular? How many? | | | | Back to top | 0 two |
amother
Yellow | Tue, Oct 27 2015, three:25 am I don't live in Lakewood, I live in Israel but aye, a money tree seems about correct. My hubby and I both work full time and actually do quite nicely. Merely the expenses don't end and we're barely making ends run across. Add together kids that demand diverse therapies to the mix and it'southward almost impossible.  | | | | Back to summit | i 0 |
amother
Chocolate | Tue, Oct 27 2015, 9:54 am | Information technology's a moving target. We used to be very low income. Then I went to schoolhouse and got a masters, and now earn higher up $110k B'H, merely practically speaking our standard of living hasn't budged. We still can't afford a bigger apartment or a car, and I definitely have to upkeep advisedly for food and other expenses. As yous earn more you lose authorities support and your tuition payments go up, so things tend to stay the same. In some ways our quality of life is less considering I'm ever working. I used to be able to go away for 2 weeks in the summertime, now I'm lucky if I go away for two days. However, information technology's better in the long run to be a productive person even if information technology doesn't necessarily translate into a comfortable lifestyle. | | | | Back to superlative | 3 5 |
amother
Jade | Tue, Oct 27 2015, 10:34 am | How much money does a frum family need? To me, it seems similar we demand MORE every day... | | | | Back to top | 0 2 |
leah233
 
| Tue, Oct 27 2015, 10:34 am | In that location are many variables to this question.due east.g. When, if at all, did they purchase their business firm? I heard from two different people involved in Lakewood Tzedokahs that the poorest people in Lakewood are those with v children earning betwixt 60 and 80K considering they accept all the expenses but none of the programs. | | | | Dorsum to acme | 0 vii |
amother
Firebrick | Tue, Oct 27 2015, x:44 am I think 100K is enough to non feel pressured -IF you lot don't own a huge house with a big mortgage, don't dress kids in designer clothing, don't drive the latest car or button the latest carriage and don't have the family to Miami of skiing for Winter break. If those things are important and necessary it will push the corporeality needed way up.
for instance dressing vi kids each seasonincluding shoes tin range anywhere from $thou - 7000 and upward That makes a big difference in a upkeep. For me part of having enough money is not having it hard with extra spending yom tov time and saving for bar mitzva, nuptials and yeshiva, seminary afterwards on. We make about 120K, live in a small business firm (MUCH smaller so typical Lakewood standard), don't drive or lease new cars and watch our finances and budget tightly and relieve for each kid monthly. If my kids need tutoring, extra curricular sports, or whatever I'll definitely spend the coin, I don't call up I penny pinch, but they are dressed in Childrens place or handy me down clothing. | | | | Dorsum to top | 0 2 |
amother
Chocolate | Tue, Oct 27 2015, x:49 am | amother wrote: | I think 100K is plenty to not feel pressured -IF yous don't ain a huge house with a big mortgage, don't dress kids in designer wearable, don't drive the latest car or push the latest carriage and don't take the family to Miami of skiing for Winter break. If those things are important and necessary it will push button the corporeality needed way up.
for example dressing vi kids each seasonincluding shoes can range anywhere from $yard - 7000 and upwardly That makes a big difference in a budget. For me part of having enough coin is not having information technology hard with extra spending yom tov fourth dimension and saving for bar mitzva, nuptials and yeshiva, seminary later on. We make almost 120K, live in a small house (MUCH smaller then typical Lakewood standard), don't bulldoze or lease new cars and spotter our finances and upkeep tightly and save for each kid monthly. If my kids need tutoring, extra curricular sports, or whatever I'll definitely spend the money, I don't think I penny pinch, just they are dressed in Childrens place or handy me down clothing. | How many children practise you accept? I brand virtually that much and nosotros definitely have a hard time making ends run into. About one-half our income goes to tuition and there is NO money left at the end of the month for savings. We fabricated a bar mitzvah last year and information technology was tough. Nosotros paid for tefillin merely for the bar mitzvah itself nosotros fabricated a small kiddush in shul. | | | | Back to top | 0 0 |
amother
Slateblue | Tue, Oct 27 2015, 11:13 am | causemommysaid- lakewood'due south tuition might exist cheaper- I really think information technology depends where y'all live... | | | | Back to peak | 0 1 |
amother
Puce | Tue, October 27 2015, 11:26 am | We have 1 child and we make 120K combined. Since I have a full fourth dimension job I need to pay for extra babysitting which costs $1,000 per month on summit of playgroup. Mortgage is $1800
Utilities near $400 We do likewise put $200-300/mth abroad in retirement. I accept a few actress dollars for takeout or a manicure simply I tin't just buy a new shaitel or wear without saving up. | | | | Back to top | ane 0 |
causemommysaid
 
| Tue, Oct 27 2015, 11:31 am | amother wrote: | | causemommysaid- lakewood's tuition might be cheaper- I really recollect it depends where you live... | I'm counting camp, summer daycare, intendance between military camp and school etc. | | | | Back to peak | 0 0 |
amother
Firebrick | Tue, Oct 27 2015, 11:38 am 5 kids.
We save for every kid per month since they were born plus 401 One thousand. Remember I said we live in a small-scale house, that means taxes are also much less. So figure nosotros pay 1500 per month toward taxes + mortgage. these numbers are very approximate - merely I still call back achievable. Tuition = 4 kids in school ~ $24000 (includes building fund and some extra fees) + babysitting = 4000 + campsite ~ 2400 = 2533\ month
(I work from home which makes my babysitting expenses cheaper maybe?) tuition + mortgage = 4033\month slightly more then $7K per month after taxes and paycheck deductibles towards 401 K and health plans - ma'asor = 6300\calendar month spending money - tuition + mortgage = 4033 = 2267 - savings = 1767- food = 967 left for other expenses (phone, auto insurance, water, gas, electrical, phone pecker, vesture, repairs, extras, family outings, dry cleaning, cleaning lady, dr co-payments, actress curricular activities, gas, etc). The last prepare of expenses sound tight simply it seems to be enough. Years when we need to purchase a new car are tighter but still doable. Hopefully those are far betwixt. Perhaps we aren't middle class because we aren't going on large vacations, and store sales and wear hand me downs, but we aren't stressed about money b'h. Do my numbers add up? | | | | Back to pinnacle | 0 0 |
amother
Pumpkin | Tue, Oct 27 2015, x:05 pm Nosotros make around $9k a month pre-taxation and barely make it. The end of the month is all on credit cards. It's insane. 3 kids.
2100-rent
1000-maaser
1700-tuition
671-auto payments- 2 leases simply we both travel for work
240-motorcar insurance
175-life and renters insurance
685- health insurance
500-ez pass/gas for work. They won't reimburse
450-utilities-gas, oestrus, water
500 -taxes. Should put more aside just can't beget to
500- misc cc bills
218- payment to irs for previous taxes owed That leaves barely anything for nutrient or toiletries. | | | | Back to top | 0 0 |
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