Cost Of Living
When covid hit… many fell on hard times for one reason or another. Did anyone adjust their lifestyles? How are you all doing in the US economy? What about abroad? If you care to share whats your annual income, family salary, and monthly expenses? Do you live paycheck to paycheck, have some wiggle room, or able to fully fund your lifestyle, save, vacation and put in for retirement! Do you have car notes, phone installments, educational debt, what kinda debt? Do you have a financial advisor? Are you a late bloomer that just started saving and investing? Whats one thing youre doing to improve finances? Sahm??
Wish you moms all the best!!!
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I have like 2k for emergency. Kind of paycheck to paycheck. Had to commute 1 hr for decent rent or move in with parents :/
We are low earners but are fine because our outgoings are low. We saved like crazy over 5 years then put a big deposit down on a cheap house. We now have a lot of equity so are hopefully moving to a bigger house in a nicer area.
British here. We lost all our savings during the lockdowns. My husband’s work came to a standstill and being Australian he wasn’t entitled to any help here in the UK. We took out bounce back loans which we are still repaying.
We have built back slowly, together saving about £80k (we don’t own a home, just renting) and our bonds/stocks have grown considerably.
We don’t live from pay cheques each month, we are pretty comfortable. We both were high earners but even with me deciding to stay home now we are doing okay. We have private retirement funds (my husband put into mine monthly), we have a few holidays a year and we save a bit.
We always have to have £20k cash at hand in case of a HMRC bill or an emergency back home (full price last minute plane tickets to Australia aren’t cheap).
I won't go into details, but I will say that my husband just makes sure that we don't spend above our means and makes sure that we save money.
We put 10% in our savings each paycheck. Used to be more but being a SAHM has changed things
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