Quote:
Originally Posted by Zary's-Mustache
I will just lay everything on the table. I have no idea how people are surviving out there. I am married with 2 kids and make approx 90k after taxes. Wife doesn't work.
My mortgage is pretty low at 150k. I can't seem to save any money at the end of each year. Feels like I'm working just to stay afloat. I do save some but it definitely isn't enough for any kind of retirement. I don't have any benefits or a pension plan.
Having said all that I know lots of people are even in worse situations making less and it always boggles my mind how people can even afford these big mortgages. I have a friend who makes as much as me but his mortage is 3 times mine. I really don't understand how he does it.
Inflation is insane. Grocery shopping is insane. Feels like everything is over priced. I counted 12 strawberries the other day for $7. My kids eat 12 strawberries a day.
This is more of a rant and don't really know the point other than how are people getting by out there?
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So you’re essentially “living” off of $7500 a month. First thing is to live off $6500 a month and put $1000 away into tax free savings accounts for you and your wife. Then you have to make a budget and “STICK TO IT”. Somewhere you have to find a one time expense for a deep freeze. This will make food budgeting easier and allow you to save in the grocery store by stocking up on sale items.
Meal planning is a great place to start finding ways to save on food costs as well as cutting food waste. Meal planning also solves the “what’s for dinner tonight” question. Include everything in your meal plan from snacks and treats to every meal. A key to this is download the FLIPP App which contains all the weekly flyers and allows you to create lists from store to store. Focus on two stores each week to shop at which willcut down on time and fuel costs (and save your sanity) vs going to 4 or 5 different stores. Set aside time once a week to go to the store(s) and by what is on your list and what is on sale!! If strawberry’s are $7 a dozen, well guess what? Buy bananas and wait until the berries go down to $4 a dozen
Avoid Costco unless you are committed to your shopping list. If you go to Costco try to get in and get out as fast as possible and avoid “shopping”. We all buy T shirts we don’t need, a couple of books, etc… when going into Costco.
What you spend on food and consumables is one thing you CAN CONTROL vs the cost of gas to work, property taxes, utility costs etc. And don’t be afraid to stay home, every time you leave your house be prepared to spend $100. And getting back to one of my first statements, pay yourself first, and make yourself a budget.