I'm looking to put a budget in place without using my wifes income and overtime from my job.
2006-09-13 17:04:49 · 14 answers · asked by malenymph69 1 in Business & Finance ➔ Personal Finance
I have a family of four, all teens and with my wife working full time with BCBS and I am a painter...seasonal at times of course..we get by ok on considerably less......fifteen grand less. it is tough, but as you know, there are numerous varibles as previous writers have mentioned. Budgets are very important!! I haven't done too well on that aspect as a single guy...now as a married man and all these 'deductions', we do not do great, but it's an ongoing challenge. best of good fortune for you if you are 'young' and can get good advise...also, magazines like MONEY are good to keep up with. Experts cover the gamut on this sort of thing. Where I live, I could live like a king on your salary...I'd think I'd won the lottery!!!
2006-09-13 17:26:43 · answer #1 · answered by John L 2 · 0⤊ 0⤋
I'm sure it is, at least if that family is debt-free and one of the adults has time for some frugality activities such as gardening, home cooking, and serious bargain-hunting. One great measure for controlling household expenses is getting rid of the TV, because then you don't have children clamoring for all the junk that's pitched to them. And, what with all the time that the absence of TV frees up for the kids, they can be contributing family members and help with those labor-intensive, money-saving household activities.
2006-09-14 00:13:26 · answer #2 · answered by silver.graph 4 · 0⤊ 0⤋
You have to do without the wants and focus on the needs, if you do that it is possible. It is all according to what is important to you. I'm not sure about comfortably, but you can make it if you are wise.
2006-09-14 00:14:26 · answer #3 · answered by chris' angel 2 · 0⤊ 0⤋
depends on your lifestyle. in this day and age, it's hard for even ONE person to live in 45 grand a year comfortably. although like i said, it depends on what kind of life you want. keep in mind there's insurance, car payments, house payments, gas, groceries, taxes, and the list goes on and on. living in the U.S. is getting more and more expensive so set a budget for the first month and modify it each month.
2006-09-14 00:13:56 · answer #4 · answered by shrimpylicious 3 · 0⤊ 0⤋
Yes it is possible. I am living in LA with conditions slightly below the ones you gave and I am perfectly happy with a VERY decent standard of living.
2006-09-14 00:17:33 · answer #5 · answered by The Prince 6 · 0⤊ 0⤋
Depends on what your house and car payments cost.
We are 3 and we spend 60K minimum just to meet our bills, No entertainment included.
Of course ou could just multiply your monthly bills by 12 and viola!
2006-09-14 00:09:14 · answer #6 · answered by Anonymous · 0⤊ 0⤋
That is too vague of a question. Do you have a house payment? Do you have a car payment or plan to have one in the near future? Do you have a savings account for emergencies? Do you have any credit card debt?
Do you pay daycare? and on and on and on....................
2006-09-14 00:10:50 · answer #7 · answered by happydawg 6 · 0⤊ 0⤋
I think it depends on your values, the style of living you feel you have to have, and what city you live in. I do think it's possible.
For example, I think you can do that here outside Syracuse. In metro NYC, though, not likely!
2006-09-14 00:09:51 · answer #8 · answered by catintrepid 5 · 0⤊ 0⤋
My husband and I live on that with a family of THREE and we are struggling sometimes. So, I would have to say No.
2006-09-14 00:10:22 · answer #9 · answered by Mom of One in Wisconsin 6 · 0⤊ 0⤋
Depends on location. Its done everyday in America.
2006-09-14 00:07:08 · answer #10 · answered by mattymomostl 3 · 0⤊ 0⤋