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Interesting budget article

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  • #16
    Some responses here are disappointing. I don't recall one of the families asking for our sympathy, or a hand out. snowcanyon Not sure why the only opinion you felt was worth sharing was to shame the parents and the kids for simply existing, then top it off by blaming the kids further for the burden on taxpayer.
    The Bay Area couple explicitly stated they went into the HCOL with open eyes. Another couple had high childcare costs because a previous cheaper arrangement disappeared on them. And I'm sure the Wisconsin couple planned to quit college early to have kids they couldn't afford, right? Sometimes life just happens to you.

    The substance of the article identified the range of 'middle class income' for a family of 3, then explored how that plays in real life with real families. Wonder how this same exercise would have looked like 40 years ago, which is the more interesting question versus simply pointing out some families can't do math.


    • #17
      the article's subtitle is: Most Americans think of themselves as middle class. For many, the line between a stable life and a fragile one is thinning.
      they may be middle class with reference to their income, but some of them are not living a middle class budget


      • #18
        The education system is partly to blame IMO.
        Most places have mandatory requirements in science, history, math, literature, PE etc throughout high school, which the vast majority of the population will never use in their daily jobs.

        But no cl******************es on basic personal finance topics like budgeting, taxes, or home ownership (pros/cons)? That's dumb.

        Personally, I know for sure that if I hadn't discovered WCI, Dave Ramsey, or Bogleheads on my own during med school, I would currently be a broke doctor with a 1.5M home making minimum payments on my student debt...


        • #19
          Well, for contestant number two I found some easy budget-chopping items:

          -Three-bedrooms in Layton and environs can be had for $1200 a month.
          -It's unclear why, with two small children they can't rent a two bedroom for $1000 a month
          -A THOUSAND dollars a month on two cars? Can't they buy two used Corollas/Sentras/Foci/Civics for a few K each?
          -The food budget can surely be cut in half. Goodbye Costco, hi to Reams, Wal-mart etc.
          -Can't they use Republic wireless for $10 each?
          -I'll give them Netflix, but cancel Spotify. Or vice-versa.
          -I'll even give them Montessori since it appears to have been an emergency

          There. We've saved them over a thousand dollars a month without even touching Montessori and "miscellaneous."


          • #20
            Why is everything asterisks? Same thing happened why I typed "hello."


            • #21
              It’s screening for bad words. I wrote the word C L A S S. And it replaced the last three letters with *******


              • #22
                I don't trust schools to teach personal finance. Most of the people teaching it will have crap finance themselves. Should just teach it to your kids yourself.


                • #23
                  Hilarious apparently "H E L L O" is a bad word. Pretty high sensitivity scan....


                  • #24
                    Originally posted by Panscan View Post
                    A chooses to have 3 cats. They have an 800 dollar surplus/ month. I don't see how that is poor. If they use that to pay off their credit card debt they won't be in bad shape.
                    B chooses to spend 1200 dollars/month on education for 3 and 2 year olds?
                    C chooses to spend 3500 dollars/month of rent
                    D is saving 30k/yr for retirement, have some college savings and 1500/month surplus. how are they poor again?

                    Dumb article
                    How much would day care cost for two kids? I thought it was pricy but I have family that spend about 1k each kid on daycare.

                    The happy hour and car notes I think in couple B is a problem.

                    D are the ones making it.