INFANTS IN DAYCARE?
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INFANTS IN DAYCARE?
| Wed, 11-26-2008 - 12:20am |
OK, remember this is a debate board, and I am going to play devil's advocate here, so please let's play nice.
| Wed, 11-26-2008 - 12:20am |
OK, remember this is a debate board, and I am going to play devil's advocate here, so please let's play nice.
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$82 is the cost of insurance at the university (where many people here are employed) for employees with an employee spouse and their family per month making $20K each per month.
$233/mo. is the required 7% savings at the university.
$20/mo. is how much the life insurance and long term disability insurance costs for people under 30 making $20K each per month for enough life insurance to cover the cost of the mortgage and salary of one spouse for 5 years.
$300/mo. is a random number I picked out for college savings.
$100/mo. is a number I chose based on how much a person would need to drive (work, groceries, doctor's appointments) for two cars living in a neighborhood with a house that costs $100K.
$163/mo. miscellaneous expenses was the leftover.
I chose the university as an example because I knew where to find the information and it's a big employer around here, but I could have easily chosen other examples if the data was public. I probably could have made my hypothetical family have one teacher and one city employee (fireman, police officer, etc.) Or I could have made it a family with one spouse making $40K and the other spouse SAH.
My hypothetical family didn't have student loans or medical bills. If they had, those would have been included in the budget. Perhaps my hypothetical family, if they had student loans, would have decided to wait to start saving for the kids' college until after the loans were repaid.
You don't think data about things like average home prices and average utility usage exists?
I don't know, are you missing something?
I'm saying that *hypothetically* it's possible.
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Ducky
I chose the university as an example because I knew where to find the information and it's a big employer around here, but I could have easily chosen other examples if the data was public. I probably could have made my hypothetical family have one teacher and one city employee (fireman, police officer, etc.)
But not everyone in your area works for the university, correct? And not everyone at the university lives the same lifestyle, correct?
Or I could have made it a family with one spouse making $40K and the other spouse SAH.
Somewhat like YOUR lifestyle, correct?
Yes, exactly. Thank you.
ETA: I *couldn't* live comfortably on $40K a year at the current moment.
Edited 12/17/2008 11:19 pm ET by geschichtsgal
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Ducky
I know there is data out there for "average" home prices and utilities but you can not say hypothetically that a family making $40,000 would have these "average" bills.
I can find the average price of a home in my area. That does not mean that in that home, the utility bills will be exactly or anything alike from a home the same size and same price. Again, my neighbor was paying 5x my bill and my sister has paid 6x my bill with the same size home.
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