reply to post by sensfan
Let me see. Hmm. Let's do the math shall we.
A family of 4 lives is a nice town not great. Let's say Valdosta GA.
Mortgage on a 200k home is $1600 a month.
Car payment on 2 cars that will not last 5 year. $700 a month
Food for the family of 4 $600 a month no dining out.
Electric, gas and water Average $450 a month
Gas to drive to and from work $480 a month
Insurance for cars and home: $200 a month
Home phone, internet and cable $99 a month triple play!
Cell phone that work will not reimburse but expects you to have $189 a month
Grooming and maintenance $100 a month all 4.
Maintenance on cars $60 a month
Medical or health budget $150 a month
Dental budget $100 a month
Clothing for all 4 $150 a month
Daycare, babysitter and after school care $700 a month
$4500 on credit card because of emergencies $250 a month
Grand total: $5828 per month in hard costs
Now comes the good part:
X mas presents for family and kids and such $1200 a year mostly cloths and needed things
Go out to eat 1 x a week family of 4 for $50 a week or $200 a month.
Family of 4 making a 100k salary combined: $8666 per month
Salary after taxes and medical plan $5985.
Remember when the car or the house has an issue the budget is blown so it goes on credit cards.
Now this is an average family in America who is considered rich in Valdosta. They are good friends of mine and struggle to keep things above water.
Before you strike Mr. Romney's statement I would suggest you do the math first. 50k a year is not middle class at all. It is just surviving. God
bless and hope it helps.