this post was submitted on 30 Nov 2023
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[–] bustrpoindextr@lemmy.world 4 points 11 months ago* (last edited 11 months ago) (2 children)

I'm gonna go ahead and tell you, that's a bit high for after tax.

I make 172/year and after tax and benefits and what not in South Carolina, I'm at 8.6 a month, which is less than the 150 estimate. So in an average tax state and making 20k less? Might be more like 7.5-8.

Edit: granted of course, 401k contribution can change things a bunch

[–] Wrench@lemmy.world 6 points 11 months ago* (last edited 11 months ago) (1 children)

Fair enough. I'm sure there's a calculator to make it easy per state. But yeah, take home is deceptive, because typically someone making that kind of income is going to have health insurance contributions, retirement contributions, social security (not technically income tax, but fair enough to deduct IMO) taken directly out of their paycheck.

Without doing the estimates myself, either of your claims sound plausible, and even taking 8.7k as a generous estimate, it doesn't look good.

[–] bustrpoindextr@lemmy.world 6 points 11 months ago

and even taking 8.7k as a generous estimate, it doesn't look good.

Big facts. Worker wages need to be adjusted for the last ${years since Reagan took office and initially screwed everything up for the common American} and then we should be okay.

[–] servermonky@lemmy.today 5 points 11 months ago (1 children)

My family is very similar. We aren't quite paycheck to paycheck, but things feel a lot tighter than they did before - we make 190 ish combined, which ends up being about 9k a month. We have one paid off car.

Mortgage - $2500 Utilities - $800 (electric, water, plain Internet and mnvo cell phone plan) Daughter's school - $1200/mo (obv this is a "non essential", but it's pretty cheap for a year round private school) Prescriptions - $1200/mo with insurance (although this usually comes in a single lump in January. Insurance also refuses to cover a few essentials which we pay out of pocket for, about $100/mo) Student loans - $800/mo

Which leaves us with around $2500/mo for entertainment, car/house repair (it's 40 years old and needs new things like a roof or hot water heater from time to time), groceries, any vacations, etc. My wife and I both have chronic conditions which are exhausting to deal with so we get house cleaning for $300/mo as well.

We are doing fine, but it seems like an exhausting cycle to try and build savings, and if we ever had to buy another car I don't know how we would swing an extra $500 payment every month, with what it seems vehicles cost these days.

All this to say, while we are ok, I have no idea how families making under 100k get by.

[–] SeaJ@lemm.ee 1 points 11 months ago (1 children)

Most people are not paying $1200/month for childcare or $300/month for a maid. They also probably put a lot less toward retirement.

That said, good on you for recognizing that the average household is struggling.

[–] servermonky@lemmy.today 2 points 11 months ago

Sure, for school age kids like my daughter that is true, but I will push back that toddler and infant childcare is, on average, extremely expensive.

If you don't have a grandparent or other relative to watch your kid, in a state like North Carolina you will be forking out around $800-900 a month per kid on average.

Which is why publicly funded options for preschool would be life-changing for so many people, especially single mothers and fathers.