My husband (38M) and I (24F) have a combined income of $60,000 per year, or thereabouts. He is the big earner at $50k and I scrape by on a much lower income part-time job. He has always been very 'protective' of his earnings, as he has worked very hard for the job he has.
Since moving in together we agreed to mostly keep our own expenses separate. If I buy things for the household, like shopping or cleaning, bills etc - we split them in half. If I go to the store I give him the receipt and he adds up how much of the items are shared and transfers me half. Anything we get for ourselves is paid for out of our own accounts, any personal expenses etc.
He does, however, pay a much higher proportion of the rent. This has worked fine for us. I do the majority of the housework to make up for not contributing as much and because I have more free time around my job.
The issue we have right now is that I m pregnant. Because of our agreement, I am expected to pay for anything medical, any bit... keep reading on reddit ➡
Update 3: Stop sending me bloody threats or your opinions through private message.
I received a message, and I quote "If you want people to sleep in cars so bad, why don't we have them all park outside your house, so they can sell drugs in your property, r*pe your daughters, murder your spouse, and leech off the government but pin it all on your hands?" You don't need to verbally assault someone for an opinion on any matter in the world. If you want to debate this, comment on the threat. I'm declining all PM's about the issue here on out.
Update 2: I've had a field day replying to all of you guys. I've changed my opinion a fair bit. It's a difficult topic- on one hand, morally speaking, i want to be able to make it easier for people to get off the street. But, to make it legal to sleep in a typical car, there are so many things that have to be taken into consideration- legal changes, new regulation, taxation, sanitary conditions. I've decided to retract my statement, and change my... keep reading on reddit ➡
I deliver for Uber Eats, and I’ll be honest with you. Whenever I get a request that leads me into a low income part of town, I instantly deny the request. I’m considered a private contractor and have the right to refuse jobs that I don’t want to take. Like most couriers in the city, I only take delivery jobs from safe middle class to upper middle class areas. I’m sorry but I’m not going to risk my life or risk getting robbed for $5.00 and not to mention people from these parts either tip very little or not at all. Which is fine, tipping shouldn’t be mandatory but it also isn’t mandatory for me to accept delivery routes that lead me into non tipping zones. I’ve delivered to low income areas when I first started and I always made below minimum wage because I rarely got tipped and it takes 5-10 minutes longer to navigate in complex apartment buildings. I prefer doing deliveries in suburban middle-high income areas because they tip more generously ($5.00 average) and it’s easier to navigat... keep reading on reddit ➡
Imagine you earn $4000 a month and the fine is $200. That’s 5% of your montly income. Imagine you earn $50,000 a month and the fine is still $200. That’s 0.4% of your monthly income. 0.4% of $4000 is $16 to put it in comparison. Basically the richer you are the easier it is to break the law. When a fine is 5% of your monthly income, you’d probably think “oh shit” and try not to break the law. When a fine is only 0.4% of your monthly income, the chance that you wouldn’t care is big. Going over the speed limit? Who cares? You got enough money, so not you! Sure, people who are rich might “work harder”, but being rich shouldn’t put you above the law. Illegal activities basically become legal as long as you pay for them. If a fine depends on your income, no one will break the law just because they can. Make a $200 fine $2,500 for someone who earns $50,000 a month (5%) and they’ll probably think “oh shit” as well, forcing them to follow the law just like any regular person.
I live in the Merrimack Valley in Massachusetts, as much of a hockey hot bed area that exists in the United States. Hockey is way of life for many here, and the quality of the hockey produced public high schools here is as good as anywhere in the Country (yeah even you Minnesota).
The Merrimack valley is also one of the most diverse areas in New England, and has a large immigrant community from Latin America and Asia. Despite that, hockey in our area remains overwhelmingly white and middle class. Despite the strong presence of people of color in our region for the past 40 years, there has been essentially zero adoption of the game by Latino and Asian people here.
Lowell High School is 70% students of color, and fields an extremely competitive hockey team. That team, despite the demographics of the school, is basically 100% white kids. Up the street in Lawrence, a school that at this point is approaching 100% hispanic, has not fielded a hockey team in years, the only school in our ar... keep reading on reddit ➡
My parents own their own business and make about $100,000 per year. They have less than $100,000 in savings (which I think is just in cash), and are about to turn 60. Luckily they almost have their house paid off, but they spend money constantly with no plan for how they will provide for themselves when they can no longer work. They just bought a new $60,000 car (financed) and are constantly shopping and eating out. That is, they quite literally spend every dollar they make and then some.
They know my husband and I are frugal and have the means to take care of them. They regularly “joke” and say they don’t need to save for retirement because we’ll “put them on the payroll.”
I’ve told them, quite directly, that that will not happen and I have no plan to provide for them financially. My problem is, they’re still my parents, and I don’t want them to starve (so I get pretty stressed by it). They will likely only get the bare minimum social security retirement (a lot of their spending... keep reading on reddit ➡
Everyone wants to be rich working for themselves (or better yet, getting rich off passive income), but if I can work from my computer (aka work anywhere I want) and not have to answer to anyone, and make a solid living, I don't care if I have to grind 80 hours a week to get there and still work 40 hours a week to maintain it, if I can work for myself and make my own hours wherever I want, that's all I care about.
Anyone else in the same boat?
Over the past 40 years income inequality in America has become worse and worse. Many people are calling for increased taxation on the rich but that is only half the story. What I find most important is what is done with that money. What can the government do to most effectively address income inequality?
When I look at the highest spending of average americans, I think of healthcare, and rent/mortgages. One of these could be address with M4A. But the other two are a little less obvious. I've seen proposals to raise the minimum wage to $15 and also rent control. Yet the two areas that have implemented these, New York and California remain to be locations with some of the highest income inequalities in America. Have these proven to be viable policies that effective move income inequality in the right direction? Even with rent control, cities with the highest income inequality also have the highest rates for increasing home prices, including San Fran, DC, Boston, and Miami.... keep reading on reddit ➡
Under a capitalist framework, the only thing which a worker is expected to bring to the table is their labour. A financial contribution to the company is not expected. The upside to this is they take no financial risk when they start working for a given company. The downside is they are not entitled to the profits that the company makes, as those go to whoever is taking on the risk of investing their capital in the company, be that the owner or the shareholders.
Socialists argue that this framework is “immoral” and “exploitative”, and that the workers are the ones who should own the means of production in all circumstances. They should be the ones receiving the profits, because they are the ones who make the product or provide the service to the customer directly.
Of course, what they will often neglect to mention is what would happen if the company they work for went bankrupt. Under capitalism, the capitalist has to recoup the losses the company sustained to p... keep reading on reddit ➡
Hello, I’d like to gather peoples thoughts on the future of office work. The main thought in my mind is the salary difference one can get when working in London. In my sector the starting salary is around 28k but in London it is about 33k. What is to stop people now working a ‘London’ job but from their home in the north. Will this lead to a more even distribution of wages?
Secondly, the cost of renting office space is huge. My company pays £250k a year for an office in the midlands and in city centres this could easily be over a million. Can an effectively managed workforce operating from their homes cause a reduction in office rent costs, and can this saving be passed on to the staff in the form of higher pay?
Thirdly, my savings on commutes and having to rent a flat near work have totalled around £350 a month. This is £4K a year! I now have the same take home pay as I would have had with 5 years extra experience.
Has our working life changed forever?
I’ve been reading this sub since 2015 and with the encouragement of my partner, finally decided to post. Throwaway so I can share #s and answer your questions.
Background: daughter of two immigrants, I was born outside the U.S. but raised here from a young age. My parents are some of the most disciplined and frugal people I’ve ever met - probably due to growing up poor in rural India. We were low income as I was growing up but my parents worked hard and are solidly middle class now. I got what I needed as a child but rarely anything more.
College: Luckily I loved school and got good grades. Landed a generous scholarship and went to a small liberal arts school. Thinking I wanted to be a lawyer, I got the equivalent of a poli-sci degree. Graduated at 20 years old, and became the first person in my family to get a college degree.
Post college: Had a crisis while taking the LSATs and applying to law school. Decided being a lawyer wasn’t going to be for me and withdrew my applications.... keep reading on reddit ➡
What's your thoughts on UBI? I believe, even though i am a capitalist, that UBI will solve many problems in the future.
The only thing that bugs is the implementation of UBI. A bad implementation of UBI perhaps it will create more problems than it will solve.
For reference of my situation, I put myself through college while working full time and earning roughly $15 / hr, 40 hrs a week in an area with very low cost of living (up to this point I have been doing "fine" on this salary). I will now be making roughly $75,000 base with a large bonus incentive, along with a $5,000 signing bonus off the bat. I am $30,000 in college loan debt, but have no other real debt. Though this may not be relevant, I want to give some context as to how big of a jump this will be. However, general advice would be greatly appreciated as well. I just have never had money as an adult and I want to be sure I'm paying off loans / saving as much as I can / spending my income on things that will effectively improve my quality of life.
EDIT: Wow, thank you all for taking the time to respond. The post has been locked so I can't respond to comments right now, but hopefully it opens up again soon. To elaborate more on some frequent questions asked below that I can't respo... keep reading on reddit ➡
I was always interested in this topic, but never really knew where to start. If you could link me to some introductory books or courses or things like that I would really really appreciate it!
My wife and I (30m) have been wanting to purchase a new home for a while. We currently don't have kids but plan on having kids at some point. I am currently the only one working and earning 75k/yr. We live in the midwest US.
The following is the breakdown for each paycheck:
This nets us about $1,500/paycheck.
Now the expenses:
Net: A measly $130
My wife is currently studying for school (dentist in Australia) so she has to pass some exams here and then would have to 2 years of dental school in the US. She has missed the passing marks by a narrow margin in the past 2 attempts and we're thinking this might be her last attempt in December.
If she passes... keep reading on reddit ➡
I'm curious how hard it is to crack a $300k salary in your respective fields? I'm in my late 20s and am looking at a career change and just thought it would be interesting to get a realistic perspective on what it takes to crack that barrier.
How long does it take, what percentage of people make it there and what sacrifices do they have to make to get there?
And finally, would you recommend it?
A pretty common argument from Liberals in my country, where they blame the low income parents for being poor, this argument just doesn’t sit right with me but how would a socialist respond?
Not going to say much about the situation itself because I don't want it to become a relationship discussion. But I will be living by myself again for the next year after having lived with either roommates or SO for at least the last 15 years. I will have a space that's my own again, and while I don't really prevent myself from doing what I want in my current situation, people with roommates or SOs will know that you can never really 100% not take that into account. The goal of us doing this is to grow as individuals separately and explore our own desires and wants, but it's a little hard to think of how it will be after having spent so long always living with someone else. I also have a much better disposable income than when I was last living alone.
So far I have thought of relatively shallow things like upgrading my PC, playing video games all day, and being able to set up my space exactly how I want it. But I am trying to think of as many things as possible since the goal is... keep reading on reddit ➡
Im not thinking of leaving my day job or anything, but I was just curious.
I do know that views count more (ad is watched etc).
Update: Just to be clear, when I say decent income or full time job, I mean enough to pay your bills and at least have a good amount of take home (let's say $300 to $500)
Like many here, and as the name suggests, I originally used these generators for a little xtra cash to burn each month on fun for myself and my family. However, has anyone else reached the point where they don’t actually want or need to spend it on “beer”? Personally, I am converting the returns each month into a dollar pegged cryptocurrency, and parking it into a high interest wallet, to gain additional returns.
What do you do with it?
I've been reading this sub for quite a few years and after seeing that a large amount of posts involve those from the tech sector, I thought I'd share a FIRE journey for a US teaching Couple but with a slight twist. All of the figures below are our household networth and combined salaries.
Right out of college and after becoming US teaching certified, my partner and I, looking to travel and experience a different culture, took the jump to teach in China. Honestly, outside of having a family member who worked as a corporate transfer in a nearby city, we didn't fully know what we were getting into. There's only so much online research you can do! The initial plan was to teach for a year or so at an international school and then return to America after completing our contract. Little did we know that we'd still be overseas teaching at international schools 8+ years later!
Due to our lack of experience, our first job was at two different small bilingual schools with foreign department... keep reading on reddit ➡
Have been looking around recently at places to rent in my area and the average price for renting is around 1400~(utilites included)/ 1100 w/o. If i could, i would prefer not to have roommates, and i don't currently have anyone what i would consider for it.
I'm 19 taking home about 750/week. I understand this this is a CONSIDERABLE portion of my income for rent, but is this common?
In terms of expenses i have:
430$/month Car Insurance
171$/Bi-Weekly Car Payment
75$/month Phone bill
40$/month Spotify, Youtube, Netflix
if i was to pay 1400 for rent, i'm leaving myself with 600$ left a month for food, internet, etc. Im currently in a trade, working full time and taking part time night classes for my apprenticeship. I'm working 50hrs/ week and have 8 hrs of classes a week.
I thought that i was in a fortunate position for someone my age, and yet i still can't even get an apartment to myself. It's really hitting me quick how terrible it is for someone to be trying... keep reading on reddit ➡
My wife finished college about a year and a half ago. She decided she hated the field she studied for and has been working at a fast food place for just over minimum wage ever since. I'm fine with this because it's what makes her happy, but it's meant that the responsibility of paying off her student loans has fallen heavily on me. She had just over $32,000. I'm in the military and by making a pretty bare bones budget my job pays for all of our living expenses and lets me put $1400 -$1600 in her student loans every month. She pays around $600-$800 a month depending on how many hours she works.
In response to Covid interest on student loans has paused. Because of this we've been putting all that money into a savings account. Recently it reached $10,000, we only have $7,000 left to pay meaning we'd have $3,000 left over if we payed it off right now.
My problem is that the military is making us move soon and we're about to have several costs that I think could easily make us go over t... keep reading on reddit ➡
I hear it so often today that people shut down people who work hard and have been successful by saying something like “so what? This person works hard too. He works 50 hours a week between two jobs at two different restaurants.” These people don’t seem to understand that it’s not just how hard you work but also what you bring to the table. I’ve worked in corporate sector for many years now and I know that these managers and directors make like $200-300k a year and they work 50-60 hours a week. This is close to what these restaurant workers are putting in but they are also in charge of so many people and so much money involved. They also probably went to good schools and learned higher level skills.
Or even small business owners that have done well. You’re not spending 50 hours a week flipping burgers or waiting tables. You are spending that time doing research, understanding the market, looking at your finances, contacting clients, etc. all of which takes MORE skill and brings more v... keep reading on reddit ➡