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      06-22-2019, 11:53 PM   #76
PoorLurker
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Drives: a bicycle
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Location: Orange County, CA

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Quote:
Originally Posted by WestRace View Post
I live by myself and my monthly food cost is about $500 dollars conservatively. I don't know whether that's high or low. So if you have a family of four, that could easily be around $2000 dollars? For comparison, my monthly mortgage for a modest house is only $1250, which means potentially a house hold food budget will be a lot higher than their mortgage and since the mortgage is fixed, due to inflation, the food cost/mortgage will just going higher and higher in the future.
Wait until you have two kids in day care and pay $2,000 in child care fees.

There's $5,250/mo net to cover mortgage, food, and daycare. $97k gross pay just to cover those three expenses.

Add in a realistic mortgage, car payments, multiple types of insurance, property tax, and
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