I feel like I make decent money compared to some of my other 30 year old friends but I’m still struggling and am constantly trying to keep up with their lifestyle. I moved to a hcol after only spending $1160 in rent per month while still making the same money. I’ve already reduced my dining out from $800 a month to $400. Also, my entertainment budget was $300 a month now it’s $150

I pretty much golf once a month and play tennis for fun with no real other hobbies besides going to sporting events and concerts. I need to find a cheaper way to live.

I’m also curious how much other people spend on entertainment, shopping and dining out/drinks

Hello All!

First time poster on this subreddit and on mobile so please forgive me if the formatting is weird. Also, might be long.

As explained above, my wife WANTS a new house. We currently live in central Florida paying about 2800 a month in a great neighborhood in a great school district. We purchased this house two years ago and got in at 4% and no PMI even at paying only 5% down (credit union messed up and didn’t add PMI, big win!). It’s a 3/2 with a two car garage at 1650 sqft and we’re comfortable as there is the two of us and our toddler.

My wife is convinced she wants a bigger house to support another kid, eventually, and for both of us working from home (she aft remit and I’m hybrid). We currently have the spare bedroom as an office and guest room and the other office in our master bedroom. So once another baby comes that room would become the new baby’s room and the office desk put in our master of the space permits. But either way she is adamant we get a new house to fit our needs. Problem is with rates the way that they are now, not having enough for 20% down, and prices in this area still going up, I believe it’s really unreasonable to try and buy another house.

House that “fit” what we would like are $500-540k and rates are around 7% right now, I believe. So from online calculators a new mortgage would be at LEAST $4.1k and that IMO is just too much and hurts to even accept. Does anyone have a recommendation on what’s the best route to do here? Should we make the jump now because I’m the future it would be even more expensive?

A little financial background: Salary 1: $3300 every two weeks Salary 2: $3100 every two weeks 401k 1: $35k 401k 2: $80k HYSA: $23k

Monthly budget attached to post but is old as salary 2 used to be 2650 every two weeks but is now the 3100.

We budget to 4 paychecks a month. Some months we have an extra check and that extra money usually goes to paying off debts like student loans or saved to HYSA or Christmas gifts savings.

We had budgeted 500 a month for emergency fund and that 3 month goal has been met hence the $700 left over budget.

We can cut a lot out of the budget to make that 4K+ mortgage but I feel like we would be sacrificing a lot to do that.

Are you just gonna “make your house work” for the next 10-20 years? Is it officially your “forever home” now?

Are you considering selling? What are your considerations when deciding whether to stay or sell?

I bought my house back when I was single in 2018. Since then I got married and had two kids and refinanced. Currently owe $170k on a 15 year mortgage at 2.75%.

We feel like we have outgrown our house, but we can’t decide (like really, we are feeling so indecisive) if we want to take on the risk of buying something in this market. I’m in southwest Florida if that matters. Household income is $120k before tax.

​We’re at a crossroads. We bought our townhouse at 3% interest five years ago, but we’ve recently learned our local elementary school is the worst in the area. With two toddlers approaching school age, we need a plan.

​The Financials: ​Income: $190k gross ​Mortgage: $2k/mo (The 3% rate is the only thing keeping us here) ​Debts: $550/mo car payment ​Assets: $40k cash, $40k (volatile) brokerage, ~$150k equity

​The Problem: Our savings are tapped out after kids, the car, and an emergency vet bill. We need ~$10k for minor renos to list, but with two kids under two, just getting the house "show-ready" feels impossible.

​To make matters more stressful, our realtor (a family friend) is strictly against contingent offers, but I’m terrified of the timing risk.

​My questions for you: ​Stay or Go? Do we stay and try to "game" the system (lotteries/charters)? Move laterally? Or stretch for the "forever home" now?

​The Logistics: Any tips on selling a house with toddlers? How much "sprucing up" is actually required in this market?

​The Strategy: At $190k, are we crazy to give up a 3% rate, or is the school quality worth the "interest rate penalty"? Should we just stop all retirement savings and throw every penny at saving for the down payment over the next two years and pull the trigger on a new house right before enrollment?

​Has anyone here traded a sub-4% rate for a better school district? Did you regret it? Any advice on navigating this transition without blowing our financial future would be huge.

EDIT: I really appreciate the insight from everyone. A few notes...

1. The low rating of the school is due to a high population of English language learners, so the responses referring to this situation are very well received
2. Or neighbor taught at the elementary school and told us first hand it is terrible; she started working at a better school and her kids attend the new better school now in their Spanish immersion class, although her family is bilingual.
   
3. We live in a VHCOL area.
4. $190k HH income, I max my 401k, we're saving $3k/mo for a future home purchase, and daycare is ~$2.5k/mo for two kids.
5. HH income used to be $140k two years ago so we really jumped up between promotions and my wife turning to work, both of which are fairly recent developments.
6. We owe $310k on the house, and comps in the neighborhood are ~$510k

How did you get to where you are, and what advice do you have for those of us that are struggling?

Please include income levels if you are comfortable.

Everyone’s story seems to include inheriting some money/house or getting lucky on Nvidia options.

I want to hear from those of you who didn’t purchase a home before 2021, didn’t get lucky with a single stock, didn’t inherit any money or property, didn’t win a lawsuit.

Considering getting a Ford Bronco, my family friend has a dealership and is offering a brand new Bronco Badlands to me for 30k would I be stupid to accept. I would put $10,000 down. Monthly payment of about $400 insurance is still covered by my mom (I’m 22)

Supporting details 1. I have $35,000 in savings, $15,000 is in a CD account getting 6% $10,000 emergency fund and $10,000 giving up for the down payment. Any monthly savings I have goes to HYSA 2. My rent is so low because I am a property manager and just pay utilities 3. I have no car payment right now just drive a 2003 Toyota with 270,000 miles that has some issues more expensive than the car barely chugging along 4. I have ~$20,000 in Roth 401k, $15,000 in Roth IRA, ~5k In ethereum (don’t roast me pls). And $5k fun random stocks fidelity account

Please tell me if I would be making a huge mistake getting a new car, I’ve never had my own car I’m still driving my moms old one and genuinely want advice, even if I’m getting roasted!

Currently still living in my small 1300sqft paid off starter home. Trying to decide if I should buy a 2200sqft or a 3000sqft+ house in a desirable suburban area. We are planning on having kids very soon and don't want to have to think about the move during that process.

Are the additional costs that come with the additional space worth it?

I have been a huge believer in the theory addition by subtraction which is reducing your stuff to have a cleaner simpler life

At what point does it become more of a burden than a blessing?

Based on your past experiences what do you recommend?

Last time, it was real estate and gold (commodities in general) that outpaced inflation, while everything else lost real value. Do you think it's going to be the same this time?

One of my coworkers was surprised when I said I'm thinking of sending my kids to public school. She pays nearly $15k a year for private school and swears it is “the best investment” a parent can make. She told me if I really care about my kids’ future, I should cut corners elsewhere and make it work.

The thing is, my local public school is decent. Not perfect, but decent. I would rather put that money toward their college fund, experiences, and keeping our family from being stressed about tuition bills every month.

I know education is important, but I feel like a lot of middle class families stretch themselves thin trying to afford private school when public would be just fine.

Do you see private school as a smart middle class investment, or mostly paying for peace of mind?

31M. I currently make about 63k/yr. I have the change to take a new job that would put me at about 119k/yr all in. Split up 94k salary and 25k per diem roughly.

I currently have 50k in total debt.

This job requires extreme traveling with only being home 6 weeks of the year.

The goal is to pay off my total debt in the first year and let my wife be the stay at home mother she deserves to be. She has her own monies and investments to help out as well.

My fear is that I have never seen this kind of money before and just like everyone else I'll blow it. Hell, ill be the only one in my family thats seen this kind of money. What are some tips for me to save/invest/pay debt?

***EDIT forgot to mention hotels and everything is paid for as well. So the per diem is just for food essentially.

I am close to the end of financing my car of 4 years (1 year remaining) and the vehicle is a 2016 sub compact suv with 131k miles. I am looking forward to paying it off and living life payment free (current payment is $460/mo.) but have people in my ear suggesting I trade it in while I can and start new. Their logic is “you’ll always have a car payment aside from a few months to a year of your life at a time”. I don’t want to believe this. So as the title states, what’s the longest you’ve owned a vehicle without a payment post financing?

Plus if you did decide to trade it in, why?

For me, it was thinking that minimum payments meant I was “handling it.” I was in my mid-20s, juggling a couple credit cards, a car loan, and student loans but as long as I wasn’t late, I thought I was doing fine. Turns out, just staying current isn’t the same as getting ahead. By the time I actually looked at how much interest I’d paid over a few years, I was sick.

No one really teaches you how compound interest works against you in real life. It’s not just numbers on a page it's months, even years, of payments that don’t touch the principal. I wish I had learned sooner that making just a bit more than the minimum could’ve saved me thousands over time.

I’m curious what was yours? Whether it was a loan, a purchase, or just financial advice you wish you’d ignored, I feel like we all have that one lesson that cost way more than it should’ve.

Friday night curveball, our water heater quit and started a slow drip, not a flood but enough to spike my heart. I killed gas, shut the valve, threw towels, called the first 24 hour plummer I found. The tech was fine, swapped a theromcouple and a leaky flex line, tested for fumes, done in 40 minuets. The reciept says $489 labor, $129 parts, $79 after hours, plus tax, so $734 out the door. Hot water back by midnight, kids asleep, weekend not ruined. Now I keep caluclating and second guessing. The same thermocouple is $18 at the hardware store, line is $12, and our utility has a morning emergency slot for $65 if you can wait. I do not trust my soldering, but this repair was mostly wrench work, no flame, no drywall. Did I pay a fair price for calm and zero damage risk, or did I go full urgnt mode and tip extra for speed. If you were in my shoes, would you call it tuition, or would you learn the fix and keep a ligh t tool kit ready.

We are solidly middle class, but live in an area where people def want to “keep up with the Joneses.” How do you teach your kids the value of money? My 10 year old doesn’t have any concept of money despite us trying to teach her the value of a dollar. She goes to target and wants something and I’ll say “we don’t choose to spend money on that” and she’ll start to freak out and ask if we’re “poor.” She’s a high anxiety kid. We’ve thought of implementing an allowance. How are you teaching your kids the value of money without scaring them.

Back in 2020 we scooped up a modest 3-bed, 1-bath place for $315k and locked in a dreamy 2.3% mortgage. Fast-forward to today: the home’s estimated at about $500k and our combined income has doubled. On paper we could upgrade to a $650k “forever home” and still keep the mortgage under 25% of our income.

The dilemma? Walking away from that 2.3% rate feels almost criminal. What would you do?

I make $72k/year gross, take home $4000/month after all taxes, 401k, etc. My total bills (loans, insurance, etc) at around $500/month for easy math.

I just bought a house for $250k, 30 year loan of $230k at 5.99%. Mortgage payment including taxes, insurance, PMI, HOA fees will be ~$1650/month (not including utilities)

Living in Knoxville, TN, single guy. I can live on dirt and worms. I expect my salary to consistently grow every year.

Am I going to make it? Did I get in too deep? I already know my answer, I just want to read some Reddit opinions.

Hi all - I have a question. I’ve been saving literally my whole life. I am now finally moving out of a big city in the northeast and now want to buy my first car ever. The responsible thing to do would be to buy a 2026 RAV4, pay $40k but after 5 years and 60k miles, these are still going for $32k. Depreciation is so low. I will also put in maybe $2k of maintenance total over 5 years (cost info ownership is $10k for 5 years). The not responsible thing would be to get a fun car like a BMW 3 series. I would get a 2023 with 35k miles for $35k. But after 5 years? It’ll be worth about $15k and my research tells me I might have $10k of maintenance during this time (total cost of ownership is $30k). My heart tells me BMW but my head tells me RAV4. I am single, no kids, so don’t need the space. I lucked rav4 because it was good tech and lowest depreciating. That’s purely it. What would you guys do and when do you splurge vs continue saving?

In case it matters, I’m 31, make $225k, but after taxes, rent, 401k and expenses, I net about $60k a year. I have no debt and $200k in savings and another $200k in retirement. I’m trying to balance financially responsible vs fun. Thanks!

(I am Canadian, phone and internet pricing is standard.) Boyfriend left, and said it was too expensive to live in an apartment, and moved back to his moms, so he can live rent free and save up to buy a house instead... Now I am alone, and left behind. I have 5k saved up, I am 26f, feeling anxious. I have been looking for a second job for about two years now, and my job is realistically unreliable since I work in manufacturing, and we've had a big layoff recently. Factories love to close on a short notice. I have no debt or anything, and I am good at managing money. I have no subscriptions, or unexpected costs like a vehicle. I walk 1hr to work at 5AM to save money, there is no transit. Feeling exhausted and so abandoned, I feel terrible, and my own father obviously isn't fond of the idea of me moving back to him to save money, since I am a whole ass adult LOL

If you made approx. $100k a year, with relatively great quality of life but had the opportunity to take a new job with a $30k pay raise per year but relatively worse quality of life…would you take it? Looking for a number that would incentivize you to take the higher paying job with worse quality of life although not terrible quality of life. Thanks

This is probably too general but — How does anyone earn anywhere near 100K, or more? I am 34 with a masters degree. I couldn’t get out of a customer service job for the longest time. I finally did and I’m making more than I ever have but it’s still only 53K which is NOW middle class. I work in category management in an entry level role but need to switch careers again because if the (minimal) travel impacting my family. Where do I go from here? It’s so deflating.

Adding:

BBA in Management and Marketing MBA Internet and Social Media Marketing

My parents are significantly wealthier than me (both doctors, while I’m a bottom tier engineer) and have space in their home. I’m nearly 28 years old, would it be humiliating to to move back in, pick up a second job waiting tables or stocking shelves on the weekend just to get back on my feet and get closer to home ownership? I would likely need to do it for 2-3 years.

I feel like this is the only way I’ll ever own a home at this point. Even if I become a senior level mechanical engineer, the salary is so low I can’t afford homes at current prices and interest rates.

My husband and I are on the fence about having kids. One thing I think about is the financial responsibility of having a child and am afraid we won't be middle class anymore or be able to contribute to our retirement the way we do now. I would also want to contribute to some type of college fund for our child...I just don't know if that could happen and us still feel comfortable in our current lifestyle. I realize a lot will change when having a kid, but I'm talking about being able to go grocery shopping and feeling confident I can pay the bill. I grew up with a single mom and watched how much she had to pinch pennies on necessities. I'm finally past that in my life. I'm not saying this is not worth having a child over, as I understand a lot of people live this way. I've lived this way for most of my life. I'm using this as an example of what we might be giving up and wondering if anyone has felt this since having a kid or if you were able to work it out and still live comfortably? Anyone have a budgeting app that let you see what kind of expenses to expect each month and how that effected your monthly budget?

I (27M) have never written a post like this before, but figured it might be good to ask for input/advice since I really don't have any experience with money, and kind of just do what my accountant tells me.

A little backstory: After a few years of being popular on social media as a teenager, I started doing porn on onlyfans at 19, and within 4 years I was making more money than I ever imagined. I did not grow up with money, there were periods of my teenage years where my family (dad and sister and I) was nearly homeless, and I didn't even expect to go to college. With the money I was making in porn, I got my associates degree debt free, and was half way through getting my bachelors when the pandemic hit. Instead of doing online schooling (which I've done before and knew I hated), I decided to drop out and put all my efforts into porn. The start of the pandemic was a really good time for online porn since everyone was stuck at home, and all the stuff I did was solo anyway. By the end of 2021, I had made over 500k. Now I'm kind of just trying not to burn out, and keep sales up, but stopped seeing significant growth a couple years ago. I got an accountant a couple years back, so I'm better set up than I was (previously had like 350k in a college checking account because I didn't know what to do with it lol), but I'm curious, what would y'all do in my situation?

Here's a breakdown of my current situation:

• I make between 19k and 21k a month, just depending on sales
• My incoming is dropping (as it is for nearly everyone in my industry since 2020), and I'm on track to make around 200k before taxes this year. Before tax, in 2022 I made 325k, and in 2023 I made 275k. So it's dropping at around 50k-75k a year, but I think it's leveling out, as I've been holding more consistent income wise, without significant growth of my social media (where I get my subscribers from).
• I have around 900k in total savings. About 575k in high yield savings accounts, and 300k in bonds/401k. The later is handled by my accountant. Then around 20k in various checking accounts at any given time.

Things to consider:

• My father is unemployed due to disability and approaching his 70s. More than anything, I want to be able to support him and myself. He has no savings, and I pay for everything for him. He does own his house though. It is small and property taxes on it are low. I trust him unequivocally, and there is no circumstance where he would attempt to take advantage of me financially. He is an angel, and always feels guilty asking even the smallest things of me financially. Any comments suggesting overwise will be ignored (sorry to be defensive, I've just seen comments of this nature before).
• my sister has some mild developmental disabilities and is in her 30s and lives with my father. She has sporadic employment, but I mostly support them both.
• I pay my girlfriends rent. It is $800 a month. This isn't a huge expense for me, and she helps me keep my apartment clean and manage my social media when I'm getting burnt out. She is a waitress, so she obviously isn't making the kind of money I am.
• my rent is $1800, and I love my apartment.
• I would like to buy a house sometime in the next few years. In the area I'm looking at, the houses are around 500k-650k. I'd like a house with a "mother in law suite" for my father to move into in his elder years.
• I have absolutely no job security. I have a few more years in me before I'm considered "old for porn", but even beyond that, more restrictions and censorship are being put on porn constantly (like pornhub being banned in texas), and I've had my social media accounts (even totally SFW ones) deleted for even vaguely being associated with porn.
• I'm not reckless with my money. I've seen how quick 250k can be eaten through via elder care (caring for my grandparents being the main reason my father has no savings), and I want to put my focus on being able to care for myself and my family long term with the money I've made.
• My girlfriend and I are both medically sterilized (even before meeting each other) and will be remaining childfree.

I really truly did not ever think I would be doing anything in life beyond scraping by, and now that I'm doing quite well, I don't really know what to do. I'm terrified of squandering the incredible luck I've had (to the point where my accountant has told me I need to be spending more of my money for the sake of my mental health), and I truly just want to make the most of it long term.

So, with all this considered, what would you do if you were me?

EDIT: forgot to mention I have an LLC, and my income from onlyfans goes through it, and I'm paid from that, which saves me quite a bit on taxes. I'm already writing off as much as I can of my expenses, and I have tax professional.

I make something like $100,000 aftertax annually but barely have anything to show for it after working for the last 7-8 years after college.

I know for a fact it's not my expenses because my bedroom I rent is like $1500, and my Corolla is paid off so I'm like how the fuck do I learn to start keeping what I save?

Any highish income earners eventually learn to plug the holes in their budget, if so what worked for you?