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Originally Posted by dalakhani
And i didnt mean to call you out by asking about kids and im sorry if it came out that way becausee it wasnt my intention.
There are plenty of middle class i see working two full time jobs right now to make ends meet and they still can't do it.
There was a couple that just came to our bank the other day. Perfect example. Both teachers making combined 110k a year. Two young children. Only debt is their cars. They wanted to buy a house in the outer reaches. a modest four bedroom with about 2500 square feet. Totally middle class neighborhood and the house was about 500k. So lets do the math.
Gross income 9k per month
Car payments= 600 per month.
student loans= 300 per month.
mortgage payment=3500 per month
Credit card debt= zero
lets do the math here GPK. 9k gross means they are taking home about 6000 per month. Debts equal 4500 per month. Now add utitlies, phone, insurance, food, gas, etc.
This is the middle class in our area. What is wrong with this picture?
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Family of 4...4 bedrooms? Hubby and wife have seperate rooms? Buy a smaller, more affordable townhome, with only 3 bedrooms. Thats at least $1000 less a month there, right?
Two car payments?? Get ride of one payment and pay cash for a much cheaper reliable car. There is another $300 a month.
$1,300 a month in the blink of an eye....just with those two sacrafices alone. What is wrong with that picture?
And you didnt call me out asking about kids. I took no offense. I was married for a while with a stepdaughter, so I am well aware of the economics that go into raising kids, etc..