Friday finances

iVillage Member
Registered: 10-23-2001
Friday finances
572
Fri, 03-22-2013 - 6:55am

So I heard a lot of chanting at school yesterday about tomorrow (today) being pay day, Woot!  Ha, That doesn't mean a lot to me but some of those teachers make good money and b/w that and the slip ins about money in a couple threads here I thought a thread would be fun..

How often are you/your DH paid

Do you discuss finances with your children?  To what extent?

Are you a spender or a saver

 


 


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Avatar for rollmops2009
iVillage Member
Registered: 02-24-2009
Fri, 03-22-2013 - 1:53pm
"But I've never thought of teachers making bank ..." ---------- Well, true enough. But if you are making 50-60K a year (which teachers with seniority etc do make in some places, as far as I know) somewhere in the sticks, you might be able to live fairly nicely on that and by a perfectly respectable house, for example. If you make 50K in NYC or some other expensive metropolitan area, you are probably barely scraping by and your housing is likely to be a two-room walk-up, perhaps shared with a room mate (or 2 or 3).
iVillage Member
Registered: 02-20-2013
Fri, 03-22-2013 - 2:03pm

cruisingchick20111 wrote:
"I guess it depends on your definition of good money. How do the rest of you define that?" Teachers in my area start at $55,000/year and then need to take classes to get raises. Many teachers who have been working for 20 years and principals are making $100,000 or more. I think "good money" is all relative on your lifestyle and how you want to live it. The money we make wouldn't be able to be enough for someone with a larger home and 2 new cars, college bills, etc.

But isn't "larger home" also relative? The average home in America is around 2200 sq ft. So do you mean larger than the national average or larger than YOUR home? Since I have no idea how large your home is, IDK what larger means relative to it as a point of reference. Are you talking about a McMansion (generally defined as over 3500 sq ft) or what? 

Real estate prices are totally relative to location. Again, on the coasts they are significantly higher than they are in flyover country. One of my dearest friends lives on the East Coast. She paid more for a 2 bedroom cottage than I paid for my 4 bedroom house. On the other hand, my college roommate paid significantly less for her gorgeous 4 bedroom, historic home (at the height of the market) in an economically depressed, upper Midwest town than I paid for my house in the 'burbs. If she'd bought that house in my area, she'd have easily paid 250K more for it.

Real estate really is all about location, location, location.

On Wednesdays we wear pink.

iVillage Member
Registered: 10-10-2011
Fri, 03-22-2013 - 2:07pm
Teachers in my area START at $55,000/year (after college)
iVillage Member
Registered: 10-10-2011
Fri, 03-22-2013 - 2:10pm
Well I can tell you that in my area a 1,100 sq. ft. house like my own goes for about $300,000. Down south you can get a home double the size for half the price.
iVillage Member
Registered: 12-07-2003
Fri, 03-22-2013 - 2:13pm

reginageorge2005 wrote:
I guess it depends on your definition of good money. How do the rest of you define that?

DH believes that people generally think that 10% more than they currently make is good and/or enough money to live on.  I don't really agree, but that is one perspective.

I'm in a profession that is generally underpaid relative to experience and education (much like teachers).  But I have made choices within my profession that mean I make more than many other people in this profession do (again relative to experience and education).  My income has increased by 40% since I started my first professional job 6 years ago.  I think I make relatively decent money.

Also, when you consider that the median household income for a family with two married adults in the US is $74,130, I would say that a family with two teachers each making $50,000 are making (combined) fairly good money.  Not that I don't think teachers are way underpaid though!  

iVillage Member
Registered: 12-07-2003
Fri, 03-22-2013 - 2:16pm

reginageorge2005 wrote:
But isn't "larger home" also relative?

A guy I know pays $1700 a month for a 400sqft basement studio in Manhattan, and he shares it with his wife.

Avatar for savcal2011
iVillage Member
Registered: 10-06-2010
Fri, 03-22-2013 - 2:25pm

cruisingchick20111 wrote:
Teachers in my area START at $55,000/year (after college)

According to several different COL calculators, that's roughly equivalent to $29,-33,000 in my city.    While that's decent, and not "low pay", I wouldn't, in any way, consider that "good money" here.

"I don’t mind a banshee, that’s fine. 2 banshees? I HATE you. I actually wish bad things upon you." -- Day[9] Daily #459 P1

iVillage Member
Registered: 11-14-2011
Fri, 03-22-2013 - 2:27pm
What do you mean "after college". Doesn't one need to have a degree before becoming a teacher?
iVillage Member
Registered: 02-20-2013
Fri, 03-22-2013 - 2:28pm

So larger to you is larger than 1100 sq ft? That's good to know. B/c my definition of larger is somewhere closer to a McMansion--more like 4000 sq ft.

I have the smallest floor plan in my neighborhood and my house is 2400 sq ft, not including my finished basement. I don't find my house to be large--amongst our friends and family, it is about the norm and average. So I have a very different frame of reference than you do.

On Wednesdays we wear pink.

iVillage Member
Registered: 02-20-2013
Fri, 03-22-2013 - 2:29pm

cruisingchick20111 wrote:
Teachers in my area START at $55,000/year (after college)

I don't think that's a lot of money for your area. Do you?

On Wednesdays we wear pink.

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