wrongfunds wrote:Just the internet and cellphone bill with couple of kids will eat sizeable chunk of that $20K budget. With kid drivers on the car insurance plan, there goes four digit outlay just for auto liability. I have not even yet added personal liability insurance to the mix. Talking about townhomes in Norther Virginia, they push towards half a million. I don't see decrepit cars up on the cement blocks in the townhomes neighborhood! I am talking about my own personal experience from Reston/Herndon area. I suspect adjoining counties are somewhat similar. I agree with you that food costs are trivial when one cooks at home but rest of the fixed costs that I am having trouble with $1500 per month budget.
Many have asked for clarification on how it is possible to survive with $20K budget with few kids in college age.
1) It does not include my 2 kids' college education cost. It is about 50K to 60K per year.
<< Just the internet and cellphone bill with couple of kids will eat sizeable chunk of that $20K budget.>>
2) Cell phone for 4 -> $160 per month. Internet / Fios / Wired Phone/ Cable TV -> $120 per month.
<< With kid drivers on the car insurance plan, there goes four digit outlay just for auto liability.>>
3) Car insurance -> $1,710 with 2 teenage drivers. Umbrella insurance = $420.
<<Talking about townhomes in Norther Virginia, they push towards half a million. >>
4) 400K. I am further away from Reston/Herndon.
5)Utility -> Water/ Gas/Electric -> $200 per month.
It adds up to about $7,890. Let's say 8K. It leaves 1K per month to spend on food and gas.