PrettyBlackDressIf You Were Unemployed, But Had A Hefty Savings Of 10K, In What Ways Would You Approach Your Job Search Differently?
foggyI hate that it’s true, but $10K is not a hefty savings anymore.
That’s not to say most people have $10k saved.
That’s just to say that $10k would get me through like 4 months, maximum.
It would get me through less than one month
Less than 10k savings would mean I’d be basically on the streets if I lose my job
People downvoting have never lived a different country, or city, than where they were raised … seriously, cost of living varies wildly. 10k/month in expenses with a family, house (mortgage, insurance, maintenance, etc), cars (gas, maintenance, insurance, etc) travel / vacations, you name it, is not unreasonable.
Hopefully with kids in private school you’d have more savings than that, but that’s an easy $15-50k/yr per kid.
I wouldn’t be surprised if the monthly cash burn for a truly middle class family was $5k.
The rule of thumb is 6 months of expenses.
Average car payment right now: $725/mo
Average price of a 4 bedroom, 2 bathroom home in the US: $416,000
Average interest rate for home equity loan right now: ~9%
Average mortgage assuming 10% downpayment And above: $2700/mo
Moderate grocery budget for 5 people: $1500/mo
Average Utilities: $330/mo
Average cost for private school: $16k
For 3 kids, monthly: $4k/mo.
For good measure, well add a slush fund of $2k a month to cover property taxes ($350/mo), gas/auto repairs, house repairs/non food related purchases, kids hobbies/electives/clothes
If we want to talk vacation, it’s gonna be an additional $1k-2k saved a month.
If you’re saving for college lol, add $1750/mo for 20 years to cover 3 kids at avg priced 4 year institutions.
Where are we?
$14,555/mo.
To sustain that, you need to be pulling down over $350k/yr as a household.
Average.
Lmao I love how when you write it out like this it makes so much so very clear about the people on this site.
That’s less than $70 per person per week, which is far less than the average spend.
You can troll around and argue against what I said all you want, they’re based averages. Actual averages.
No one cares about you opinions.
You should learn the very significant difference between a median and an average if you think the average American does any of these things.
Do you think I’m reading the words you’re saying?
You opened up in a combative way, I’m not going to engage in a good faith discussion with you.
Go sit on a cucumber, dingus.
Youre a bad person, born into fabulous wealth and in denial about it, and you’re a homophobe.
Nothing you say will ever matter, because you have no understanding of the world, and are in fact the exact person you would claim to dislike. Everything you think you are is a lie born of your hilarious privilege.
Now I’m being combative
I’m still not reading anything you’re saying.
You’re just a bag of hot air.