"As for their overall budget breakdown, the family is paying $2,150 for their mortgage and utility bills, $180 for cell phones, $1,400 for both health and car insurance, spending an average of $800 per month on groceries, and approximately $200 per month on dining out. Now add to this $850 in car loans, $250 for gas every month, plus another $2,200 across 401(k), kids' college expenses, property taxes, and sports activities, and it's clear that this family is barely able to survive."
"It should go without saying that no matter how much money you make, it's perfectly reasonable to feel stressed out about finances these days. This is especially true if you feel like you make a good living but also live in a high-cost-of-living area that leaves you feeling house-poor. This Redditor lives in Southern California, one of the most expensive places in the country. The family's combined $150,000 salary leaves them struggling to make ends meet."
A family of four in Southern California earns a combined $150,000 yet struggles to cover monthly expenses amid high local costs. One child attends college and is ineligible for financial aid because household income exceeds FAFSA thresholds, increasing budgeting strain. Monthly obligations include $2,150 for mortgage and utilities, $180 for cell phones, $1,400 for health and car insurance, $800 for groceries, $200 for dining out, $850 in car loans, $250 for gas, plus $2,200 for 401(k), college contributions, property taxes, and activities. No systematic spending tracking exists, and establishing a detailed budget is necessary.
Read at 24/7 Wall St.
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