88
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 02 Sep 2023
88 points (80.1% liked)
Ask Lemmy
27027 readers
876 users here now
A Fediverse community for open-ended, thought provoking questions
Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
founded 1 year ago
MODERATORS
It would get me through less than one month
Less than 10k savings would mean I’d be basically on the streets if I lose my job
People downvoting have never lived a different country, or city, than where they were raised ... seriously, cost of living varies wildly. 10k/month in expenses with a family, house (mortgage, insurance, maintenance, etc), cars (gas, maintenance, insurance, etc) travel / vacations, you name it, is not unreasonable.
Hopefully with kids in private school you’d have more savings than that, but that’s an easy $15-50k/yr per kid.
I wouldn’t be surprised if the monthly cash burn for a truly middle class family was $5k.
The rule of thumb is 6 months of expenses.
Average car payment right now: $725/mo
Average price of a 4 bedroom, 2 bathroom home in the US: $416,000
Average interest rate for home equity loan right now: ~9%
Average mortgage assuming 10% downpayment And above: $2700/mo
Moderate grocery budget for 5 people: $1500/mo
Average Utilities: $330/mo
Average cost for private school: $16k
For 3 kids, monthly: $4k/mo.
For good measure, well add a slush fund of $2k a month to cover property taxes ($350/mo), gas/auto repairs, house repairs/non food related purchases, kids hobbies/electives/clothes
If we want to talk vacation, it's gonna be an additional $1k-2k saved a month.
If you're saving for college lol, add $1750/mo for 20 years to cover 3 kids at avg priced 4 year institutions.
Where are we?
$14,555/mo.
To sustain that, you need to be pulling down over $350k/yr as a household.
Average.
Lmao I love how when you write it out like this it makes so much so very clear about the people on this site.
That's such an absurd level of casual wealth that the amount of leftists on here with no idea how the average person lives makes a lot of sense
Fucking lol
That's less than $70 per person per week, which is far less than the average spend.
You can troll around and argue against what I said all you want, they're based on averages. Actual averages.
No one cares about your opinions.
You should learn the very significant difference between a median and an average if you think the average American does any of these things.