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200k == about 11600 take home a month after taxes and insurance Monthly Rent : 3300 ( east bay 45 minute train ride into SF) Utlities : 350 BART riding : 26

by geggam 9y ago

200k == about 11600 take home a month after taxes and insurance Monthly Rent : 3300 ( east bay 45 minute train ride into SF) Utlities : 350 BART riding : 260 BART parking : 60-100 or Drive to SF and Car parking $500 ( instead of the 360 BART ) Groceries : 1400 ( 2 teenage boys eat ) Car payments + insurance : 800 ( 2 cars ) renters insurance : 120 Clothing : 300 ( teenagers outgrow stuff fast ) Cell phones : 300 6930 so far... no savings, vacations, entertainment or misc taken out 4670/4 = 1167 per person a month / 4 is 291 a week per person left for savings vacation misc and entertainment 1 family outing in the bay will run $300 to $ 500 easily BTW to buy a house you typically had to come in with an offer 10-25% over ask and typically a full cash offer would get the house. Good luck buying a house with a mortgage ( the house across the street, in the east bay, went for 699k and it was only 900 sq ft )

e15ctr0n 9y ago
> 'renters insurance : 120' Do you really pay $120 per month for renter's insurance? To be honest, this sounds more like an annual number.
extra88 9y ago
Having 40% of your take-home pay after covering essentials is not living paycheck-to-paycheck. But it's also true that if you're starting with nothing, saving for a down payment in such a housing market is unattainable.
- geggam 9y ago
  that is 40% for 4 people or 10% each... and you will notice I left out many costs like fuel / car maintenance. Life is different when you arent single
  - extra88 9y ago
    My home is single income, two people. I don't see the point in dividing the what remains equally amongst each household member when there are so many expenses that can benefit more than one person and there will be different wants and needs at different times. Living paycheck-to-paycheck means if you miss one paycheck, you'll have bills you can't pay. With the numbers you've provided, I don't see how your income and essentials would force you to not have savings to cover a few months. You didn't mention how many income sources your household has; even if 75% is from one source, having a second source does add a lot of security.

by geggam 9y ago

e15ctr0n 9y ago

> 'renters insurance : 120' Do you really pay $120 per month for renter's insurance? To be honest, this sounds more like an annual number.

extra88 9y ago

Having 40% of your take-home pay after covering essentials is not living paycheck-to-paycheck. But it's also true that if you're starting with nothing, saving for a down payment in such a housing market is unattainable.

geggam 9y ago
that is 40% for 4 people or 10% each... and you will notice I left out many costs like fuel / car maintenance. Life is different when you arent single
- extra88 9y ago
  My home is single income, two people. I don't see the point in dividing the what remains equally amongst each household member when there are so many expenses that can benefit more than one person and there will be different wants and needs at different times. Living paycheck-to-paycheck means if you miss one paycheck, you'll have bills you can't pay. With the numbers you've provided, I don't see how your income and essentials would force you to not have savings to cover a few months. You didn't mention how many income sources your household has; even if 75% is from one source, having a second source does add a lot of security.