![]() Either they aren’t saving enough, or they are using credit, or most likely both. So that leaves me wondering how is everyone affording this lifestyle? Unfortunately it’s one of two ways, or both ways. Heck, the costs could even be considered on the low end of things. A little bit of lifestyle inflation in there but not a whole lot. To me this is the life of a pretty typical American. So that ups the expense in almost every single category. There are a lot of things missing from this list that people around me enjoy everyday.Īnd they only have two kids, lots of families have more than two kids. There are no big medical expenses or student loan payments. There are no boats, or expensive clothes, or fancy trips. Another thing that’s not on the list is giving. It also assumes a stay at home mom, or older kids. But it’s not the big time extravagance that you would think a six figure income would provide. They have two newish cars, kids in sports, a family vacation every year, a fully funded retirement account, cell phones, restaurants, entertainment, savings, and more. Try as we might to budget for all these things life likes curve balls.) The brakes go out on your car unexpectedly, someone needs some dental work that’s not covered, or you have to work late so you need someone to watch the kids. ![]() Life: $1,600 ($133 per month into a “that’s life” fund.Registration fees and equipment for sports, dance classes, music lessons, etc.) ![]() After school activities: $1,000 ($500 per kid annually.Covers co-pays, prescriptions, OTC meds, etc) Health Care: $1,200 ($100 per month average.Vacation: $3,000 (one vacation per year).Clothing: $2,000 ($500 per person annually).Includes nights out as a family, occasional lunches from work, etc) Home and Car Maintenance: $1,200 ($100 per month average).Birthdays and Holidays: $3,000 ($100 per person for birthdays, $1,600 for Christmas, another $1,000 split for Thanksgiving, Halloween, Mother’s and Father’s day, Valentines day, Easter, and whatever other family holidays and birthdays they celebrate.).But other than that, these are not excessive bills. Granted they have two car payments and are contributing nicely to their retirement fund. Home Owners Association: $300 annually (almost everyone in the Phoenix area pays an HOA, $300 per year is on the low end.).Here the city handles the gas, other places it’s handled by the electric company) City bills: $1,200 ($100 per month, includes trash, water, and gas.Car Insurance: $2,100 ($175 per month for two cars).Cell Phones: $1,800 ($150 per month) (Try Tello Mobile, Cricket Wireless or Mint Mobile).Cable/Internet: $1,200 ($100 per month) (Try a service like Sling TV or just cut the cable and get rid of this!).Anything you typically buy on a trip to the grocery store. Groceries: $6,000 ($500 per month, includes food paper products, cleaning supplies. ![]()
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