(Closed) How much were you making (combined) the year you had a baby?

posted 8 years ago in Babies
  • poll: how much were you/would you like to be making before babies?

    under 15k

    15-25k

    25-40k

    40-60k

    60-80k

    80-100k

    100-125k

    125-175k

    175-220k

  • Post # 47
    Member
    592 posts
    Busy bee
    • Wedding: October 2011

    I think everyone here has had good points.  I am probably one of the people who has a bit of a “lavish” spending in some peoples eyes…however to put it into perspective DH and I bring home net $11K per months, DH pays $3K in student loans each month, we pay $2k in housing costs (mortgage, bills, insurance, etc), DH pays another $1000 to pay off CC debt, cars bills $900 (two car payments – one own one lease – and insurance for 2) – so we are down to $4k per month.

    With that “extra” 4K we currently are paying off some mild CC debt from home buying/wedding crap.  (I say crap positively of course).  I know $4k seems like a lot but we are trying to build up a nest egg, we live in a 60 year old house (so random things breaking – like our garage door last week a cool $1000 – are not uncommon), saving for one or two nice vacations a year (by nice I mean $1-2K).  Now we do have one major splurge and that is the country club we belong to – its $400 per month but we love it and use the crap out of it.

    (for the record we have a modest 3br house in an average area, we drive nice cars – but nothing “luxury” by any means)

    So I am definitely not saying we dont have splurges in our budget but its also easy to spend the money we make on the normal and usual things in life.  When we have a child we will be spending approx $1-1.5K on child care – which will cut into our ability to save.  We also plan to set up a college fund for our children which can easily be $500 per month per child to ensure their college is paid for.

    Not sure the point of my post – maybe just to show that even when you aren’t in one of those super expensive areas (we live in a suburb of Detroit) its easy to spend money and not too lavishly.

    Post # 48
    Member
    5089 posts
    Bee Keeper
    • Wedding: June 2011

    I just want to remind everyone who’s saying that “150,000 might seem like a lot but it really isn’t…” that is really IS. We live in a country where, in 2011, the median household income was $51,000. In New York City, the 2011 median household income was $55,000.

    I know no one wants to think of themselves as rich. But if your household earns $150,000, you’re in the 89th percentile.  So…just bear that in mind.

    Post # 49
    Member
    3771 posts
    Honey bee
    • Wedding: October 2012

    View original reply
    @mightywombat:  +1 Thank you… all of these incomes I was talking about and that you are referring to are WELL above the average, like disgustingly above average. You all have to remember that you are NOT the normal and are extremely lucky to be able to make that money in an economy where a large amount of people are jobless or are living in fear of being laid off. I think you should count your blessings while you have them. 

     And I do know what it’s like to live in an expensive area! My parents moved south to Fredericksburg and my Dad has been commuting to D.C. for the past God know how many years (he rides the van pool which is super cheap and he gets to sleep on the way into work!). But I will say, my mother has been a Stay-At-Home Mom until recently (she’s a hospice nurse now) and that meant that we had no childcare to take care of. My Dad didn’t start making over 100k until I was in college. Plus I will have to say I’m happy I didn’t grow up closer to DC and that I grew up in the suburbs. More places to run around at as a child. 

    Post # 50
    Member
    15119 posts
    Honey Beekeeper
    • Wedding: June 2011

    I agree that 150k may not be struggling deending on the choices you make, but I’m just saying it’s not that much that there’s no financial worries either.  If you think that’s a lot, take a look at this article claiming that 250k isnt enough and that “The bottom line: It’s not exactly easy street for our $250,000-a-year family”

     

    Post # 51
    Member
    218 posts
    Helper bee
    • Wedding: February 2013

    We make about $85 combined, but rent is $1500 / month, plus we have a car payment and student loan debt.

    Post # 52
    Member
    5217 posts
    Bee Keeper

    I just think its a really slippery slope to compare incomes and say what you’re comfortable with.  I don’t judge people according to what tax bracket they fall into.  I’ve worked crappy jobs ( I detailed cars for money at one point) to now a decent paying and fairly stable job. I’m very blessed, but I also worked my ass off to get here haha. As long as you’re wise with your money and responsible with what you DO have, you’ll be fine when it comes to having children and providing for them. 

    Post # 53
    Member
    5089 posts
    Bee Keeper
    • Wedding: June 2011

    View original reply
    @pinkshoes:  I’m truly not trying to start a fight about it; I don’t think there’s anything wrong with earning a good living. I hope that DH and I will be making that much sometime in the future!

    But it’s not just that I *think* it’s a lot; it objectively, numerically IS a lot. Sure, people can have financial worries at any income bracket, depending on their spending. But I also think they need to recognize just how much more they have than the vast, vast majority of families in the country.

    Post # 54
    Member
    679 posts
    Busy bee

    Well, we make about $87k combined right now, and are hoping to TTC about 6 months after the wedding. So we’ve got about 2 years. I would like to be up to 100k or more by the time a baby is born, but I have absolutely no way of knowing if that will happen. I am grossly underpaid right now and looking for a new job – I know I could easily make 10 to 15k more than I am right now, which would bring us close to that 100k mark – but in this economy, finding that new job is no guarantee. Fiance is also considering going back to school, so who knows what that will do to our income, depending on what type of program he chooses. 

    I’m not that worried, though. I have absolutely NO debt – no credit card debt, no school loans, my car is paid off. Fiance has a small amount to pay back on his school loans and an even smaller amount to pay off on his car, but other than that, no big debt. We each have a decent retirement fund, I have a decent chunk of money invested that’s doing well, and he has a decent chunk in savings. 

    I think it’s important to remember that, even though some couples may be making what is perceived to be a lot of money, they may have a lot of debts, too. That totally factors in.

    And I echo what some PPs have said. It’s about what kind of lifestyle you want to live. If you’re willing to accept that you may not be able to drive brand new cars, take expensive vacations, and send your kids to private school, then you will be totally fine on a lower salary. You WILL make it work.

    Heck, for a while when I was little, my parents were living off of 35k, with 3 kids! Sure, the cost of living was lower back then and money went further, but still! My mom stayed home with us so there was no childcare expense, and sure, they drove older cars and we ate a lot of tomato soup and grilled cheese, but we didn’t suffer for it. 

    Post # 55
    Member
    5496 posts
    Bee Keeper
    • Wedding: April 2010

    We make almost $140,000 combined and I won’t even be able to be a Stay-At-Home Mom. Our salaries make it a comfortable life, but certainly doesn’t go that far. After maxing 401k’s, student loans, car payments, mortgage and other bills, we still don’t have enough for me to stay at home. I will have to work part-time. Daycare here is very expensive and almost as much as my salary. We also live in a pricier area of the country (outside of Philly), although still not nearly as expensive as many cities.

    Post # 56
    Member
    5669 posts
    Bee Keeper
    • Wedding: August 2010

    I think the misconception in this post is that 6 figures means you live luxurious. We do not own brand new cars, no high tech phones, no premium cable, a very modest older home (1300 sq ft), no retirement account, and certainly no money left over for our child’s college education. However I have colleagues all over the US and I know someone in the midwest who just built a beautiful 4,000 sq ft home for under $150k where my house was almost $400k for a lot less. So that person might be able to live luxurious on six figures but not my family. She even drives a much nicer car than I do.

    Post # 57
    Member
    1659 posts
    Bumble bee
    • Wedding: July 2012

    View original reply
    @mightywombat:  I often think about this – our household income well exceeds the median, but we live in an area where the industry is stable and based on high-paying technology jobs and everything else is priced accordingly. We make more and are better off than most according to that median figure, but it doesn’t mean that we have money to spend – we are solidly middle class and most of the time it sucks.

    To keep DD in a safe and clean preschool, we pay $1250/month. After daycare, mortgage, and utilities, we’re still living very frugally (60 year old house, modest cars, meal planning, no eating out, no vacation, new clothes 2x/year from old navy clearance) just to stay comfortable.

    Post # 58
    Member
    3586 posts
    Sugar bee

    It’s gonna to differ depending on WHERE you live. Down here, it’s better and money goes further. We were not making anywhere near 6 figures when our daughter was born. (SO was laid off 5 days after I found out I was pregnant.) But, we made it work. The house is paid off so it’s just utilites and 1 car payment. We may not make as much as we used to, but having the house paid for is a HUGE blessing, even if he gets laid off again, we’ll still have our house.

    View original reply
    @Woodstock:  You all have to remember that you are NOT the normal and are extremely lucky to be able to make that money in an economy where a large amount of people are jobless or are living in fear of being laid off.

    THIS.

    Post # 59
    Member
    7899 posts
    Bumble Beekeeper
    • Wedding: March 2012 - Pelican Grand Beach Resort

    View original reply
    @Woodstock:  I know, right. My brothers and I would not exist.

    Anyway, to the OP, DH and I will be making just over 30k combined when baby is born in January and probably between 50 and 70 the year after that. I guess it all depends on priorities, but we can afford to have a child on this income, though it’s not ideal. We share a car, live in an apartment, and have work schedules that allow for one of us to always be with the baby so that we don’t need child care.

    We live in Jacksonville, which is the most expensive place we’ve ever lived, but it’s no NYC or Chicago.

    Post # 60
    Member
    592 posts
    Busy bee
    • Wedding: October 2011

    View original reply
    @Woodstock:  I certainly was not meaning to imply that I dont think we have done well for ourselves and I am certainly aware that we are fortunate for everything we have.  However, I disagree with the idea that we are lucky for what we have because we work our asses off for it – both DH and I have jobs where we are required to bill a certain amount of hours – usually equating to 60 hours a week.

     

    View original reply
    @Mrs_Amanda:  this!

    Post # 61
    Member
    176 posts
    Blushing bee
    • Wedding: January 2013

    I will be completely honest here… My Fiance and I live in a pretty poverished area. It is a very small town type of area with not a lot of work to be had. He is from here, I’m from a bigger city about four hours away where we would struggle on the income we have now, but for where we are we live comfortably. Comfortably means: new house, new car, vacation every year… We probably bring in, together, right at 75/80k a year. He has a son frm a previous relationship and we have one together… they are perfectly comfortable too. Completely depends on where you’re from, and what, if anything, you want to give up. We do buy a lot of clothes on sale ad TJ Maxx is the place to be lol

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