Honest family economics question....

Jake, I'm jealous. I caught a steal in my new place: $500 for a room at the base of Peak X here in Ski Town, USA. All I pay is that and $25 for internet. That's pretty low compared to what I was paying last season ($675, $125 util.). Of course, that was a huge house and my new place is a 2-bedroom condo that is considerably smaller but again, location.

 

On the subject of Dave Ramsey, check out Clark Howard as well. He is a well-known tightwad who has a syndicated show out of Hotlanta. Whereas Ramsey seems to be a one-trick pony about debt and whatnot, Clark has all kinds of tips on how to save money, scams to avoid and ways to live cheaply.

 

One of the (admittedly, many) reasons I'm hesitant to have kids is the cost. So many of my parenting friends are constantly bitching about money being tight and the cost of junior's things. I'm finally to a place where I'm not scraping by, and I want to enjoy it and not add that kind of stress back into my life.

Also, it's not just the cost of a car seat and new shoes every two months. Add in the expense of buying a home in the "right" school district, having to upgrade the vehicle for safety/room, using up your sick/vacation days at work when you're fine but junior's ill, that type of stuff.

I'm not saying it's not worth it. I'm just saying it's a lot to consider and it has factored into my decisions.

 

I just moved out of an $1100 1-BR probably 625 square foot place into an $800 3-BR in a MUCH worse area.

I miss the days of paying less than $500 in rent for a duplex.

 

Yeah, I was amazed. I actually am able to save a decent chunk of each paycheck mostly because the apartment is cheap. I had kind of resigned myself to living in a shithole, but it's very nice. One of the perks of living in the middle of nowhere I guess.

 

I live in a low-cost-of-living city. My current mortgage payment is $746 (goes up and down in August based on taxes and insurance), and it's a good house. Three BR, 1 1/2 bath, finished basement with another bedroom. Combined we make about $60K. We have what we need with a little extra. We don't spend recklessly (although my credit card never seems to get lower than $2K) and don't go with things we don't need. We get appliances instead of flat-screen TVs. We get decent vehichles. Not clunkers but not lavish.

We have three kids who we try to give what they need. Do the Princesses need new ipods or digital cameras? Not unless they pay for it themselves or get it for a gift. Do they get to play sports? Yes. Year-round? Not right now.

Our biggest vice is eating out. I work nights and the Queen runs a small daycare that zaps her, leaving her not willing to cook dinner very often. We can be smarter with our money, no doubt. But barring unforeseen medical disasters or me getting laid off, we should be OK.

 

In Bama, we paid 525 for a 2 BR apartment in the town's nicest complex. Now, we have a 2 BR condo for 1400.

Ugh.

Then again, stores and such are open later than 7 p.m. where I'm at now.

Now > then

 

Madhavok, I feel stupid, but after several tries I don't understand this part of your post: This will be the first year I won't be getting a hookup for companies for my winter on the side earnings and regular job.

 

$675 is my house payment. And I know that's cheap...up east or out west or even in a major metro in most places you're talking $900 to $1,200 or more. It's an 1800 sq foot home...not small by any means. $1400 in B'ham for a condo? My god.

And hard-working people shouldn't have to resort to WIC.
Which exemplifies the problem with the dumbass corporates who wonder why we can't pump up the economy. It's quite fucking simple, no decent income, no job, no spending money. More economic stress means more expense in areas such as social services, crime prevention, societal ills, etc. It's incredulous why they nor the government can figure this out.

 

What I've done recently that really helps is taking out my weekly budget money in cash. I have x amount for the week. If I run out, I run out or I dip into savings.

This might not work for everyone, but it helps. It's easy to lose track of spending on a debit card. If you look in your wallet and you have 20 dollars left you know exactly what you have to spend.

 

I had my first child @ 40 while all of my friends were having them in their early thirties, late twenties. I did this because I did not want to get married until I had a career going or at the very least a stable job.

Growing up watching my parents live pay cheque to pay cheque was not something I wanted to put my kids thru.

That being said we live in a fairly expensive city and while we don't keep up with the Joneses, there is quite a bit of one upmanship with vehicles and other things that can be a pita to deal with.

We have a new minivan for the family and I drive an 11 year old vehicle that will hopefully last a few years yet, having only one vehicle payment is great.

We spend more than we probably should on travel which does not give us much savings but I am a pretty optimistic person and figure we can always make ends meet so I would rather enjoy life as much as possible.

Having kids is expensive and I think I am enjoying life as a first time 40 year old dad with a good job than a 26 year old dad who could barely cover his own bills.

 

I've admittedly lived a charmed life to this point as far as money goes. My parents weren't well off when were growing up (mostly because they were putting four kids through catholic school/college) but we always got what we needed. And then my college situation was such that I was able to spend pretty freely.

But this year, if I stay at the job I'm at now, I will clear about 18k after taxes while living in the most expensive city in the world. I have some things going for me (no debt, have two roommates so my monthly rent isn't obscene) but I'm hoping I adapt to living on a tight budget quickly since I've never had to do it before.