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I don't think that's entirely true. Housing and food are still the highest spending categories. Most of the excess goes to taxes, I think. Families just make it
by mrkurt 10y ago
I don't think that's entirely true. Housing and food are still the highest spending categories. Most of the excess goes to taxes, I think. Families just make it more obvious that's happening.
- chrisweekly 10y agoChildcare exceeds all other household expenses (incl housing) in a huge % of families. Wish I had stats to cite, none avlbl atm.
- mrkurt 10y agoOh yes. That wasn't a factor for us (stay at home parenting!) but school expense would have been if we'd tried to get our kids good schooling.
- eatbitseveryday 10y agoStaying at home to parent means a missing income. I would include that as a cost.
- morgante 10y ago> Housing and food are still the highest spending categories. They can be your highest spending categories and still leave plenty of room left over to save. As a young person living in NYC (high taxes, high housing, high food costs) I can still save a huge percentage of my income due to the high salaries.
- mrkurt 10y agoNYC is much more reasonable than the SF Bay. Manhatten itself is incredibly expensive, but it's fairly easy to live frugally in the NYC area. There's basically nowhere to go "in the bay area" to save much money. You're not wrong about NYC, but the bay area is really broken.
- morgante 10y agoIn my case, I was renting in Manhattan. When I've considered moving to SF I found plenty of comparable apartments for around $2.5k/m.