What is your household income?

[Liberty Belle]

I'm just curious because it seems we have a big variety of incomes on here, but all are interested in saving money.

POLL is coming. And it is anonymous, so know one will know what you answer.

 

[maxtomsmom]

I think income tends to be directly linked with where you live. Some may say we are "well-off" in parts of the country compared to what they make, but our cost of living expenses are also high. So we tend to be slightly higher than middle class but nowhere near upper class. Put it this way, we can't afford private school, we needed to move up north to afford a better home. We're actually in the process of doing that now. My DH works full time and I part-time. We live slightly above our means, do not drive expensive cars, but are able to go on a nice vacation at least once a year. Our kids have been involved in activities that do cost some, but not a lot of money. We live well, but by no means grand. Compared to what some people make here, were right in the middle. Compared to parts of the country, we're doing well.

 

[Liberty Belle]

You're right, I guess. Here in Kentucky $80,000 would be a pretty good income, but probably not so much in California?

 

[GOOFY4DONALD]

I think income tends to be directly linked with where you live. Some may say we are "well-off" in parts of the country compared to what they make, but our cost of living expenses are also high. So we tend to be slightly higher than middle class but nowhere near upper class. Put it this way, we can't afford private school, we needed to move up north to afford a better home. We're actually in the process of doing that now. My DH works full time and I part-time. We live slightly above our means, do not drive expensive cars, but are able to go on a nice vacation at least once a year. Our kids have been involved in activities that do cost some, but not a lot of money. We live well, but by no means grand. Compared to what some people make here, were right in the middle. Compared to parts of the country, we're doing well.

This is so true. Now that I live in Montana our income is less than half of what it was in California but we live twice as good as in CA.

 

[dementia412]

When I was looking into Teach America I really saw that at work. In New York teachers are paid almost double what they would get in Arkansas, but the person in Arkansas would have a higher wage compared to others in the area. I don't know how beginning teachers make it in NY, but the ones in New Mexico making 31k living on a reservation where the average person makes 5 or 6 thousand dollars a year is living high on the hog. (if not for the student loans most of them are paying off)

 

[bevtoy]

Housing is far less in rural central Illinois, so is auto insurance. so we live better than someone with almost twice our income in say California.
We are on the prairie on a lake, but its very under developed so we have a corn field across the street and a cornfield across the cove from us.

 

[disneyjunkie]

When I was looking into Teach America I really saw that at work. In New York teachers are paid almost double what they would get in Arkansas, but the person in Arkansas would have a higher wage compared to others in the area. I don't know how beginning teachers make it in NY, but the ones in New Mexico making 31k living on a reservation where the average person makes 5 or 6 thousand dollars a year is living high on the hog. (if not for the student loans most of them are paying off)

A first year teacher here can make about $42,000-$45,000

 

[mickeyfan2]

I look at both the cost of living in the area and the overall cost of some items to see how well off a person lives. I am not talking about just getting by.

For example (this is all made up) a house in areas A is $50K and the exact same house in area B is $250K. So do you need to make 5xs as much to live there? Nope. Part of the difference needed in income is the fact that the cost of a car for both is $20K or the cost of a WDW vacation is $3K etc.

Does this make sense?

 

[dementia412]

disneyjunkie.. that was about what I was seeing, and it's just not comparable to 31,000-36,000 in New Mexico, especially for those actually living on a reservation. They generally live in housing that cost under 200 bucks a month, food and utility costs in NM are very low, and there isn't much to spend money on... I suppose if you like taking very long drives or spend a lot of time internet shopping . Now when I say New York, I'm thinking of the more expensive areas, but those are the areas that give you 40+.
I'm veryt tired... so if I only make half sense please forgive me...

mickeyfan2.. true, you have to look at the whole package... here we have relativly cheap houseng, but try buying a cheap used car... you'll be looking a long time, and I have never paid so much for food. And although where I grew up in NM it was cheap, if you go someplace like Santa Fe, it's a resort area... incrediably expensive.... why anyone would go theere if they didn't have to, I dont know...

okay I think I can finally go to sleep.. nighty, or whatever

 

[DawnM]

Yes, we moved from SoCal to NC and we are finding that the only thing less expensive is housing. Retail is all the same and groceries are the same. Gas is a few cents cheaper, but overall, it isn't as less expensive as I thought it would be.

We make 40% less in NC than we did in SoCal for the same jobs.

Dawn

I look at both the cost of living in the area and the overall cost of some items to see how well off a person lives. I am not talking about just getting by.

For example (this is all made up) a house in areas A is $50K and the exact same house in area B is $250K. So do you need to make 5xs as much to live there? Nope. Part of the difference needed in income is the fact that the cost of a car for both is $20K or the cost of a WDW vacation is $3K etc.

Does this make sense?

 

[klineyqueen]

A first year teacher here can make about $42,000-$45,000

first year teachers at my school make @25,000. I am an 8th year teacher with my masters and I will be making $34,000 this year. This is slightly below norm in our area for salary...but our benefits are awesome!!! That makes up for the slightly lower salary.

 

[daughtersrus]

We're in a middle class western suburb of Chicago. First year teachers with a BS make just about $35,000 in our district. With a Masters, they start out at about $38,500. That's more than my SIL makes now even after teaching for 25 years in the same town but in a Catholic school!

Hopefully, DD won't have a had time finding a Special Ed position in 2 years when she graduates.

 

[Liberty Belle]

So what would a meager, average, and great income be where you are?

Here, in central Kentucky (much different than smaller towns in Kentucky, btw) there are people who make $0 and are on welfare. There are people who make $20,000 and might have some government assistance. There are others who make $35,000 and are doing fine, but can't afford many extras. Then, I'd say, those making $60,000 - $75,000 are doing well, live in a nice house, but not huge or extravagant, take vacations, but not big ones too often. If you make over $80,000 here you most likely live in a very nice, big, newer (or historical) home, drive new cars, take vacations, etc.

What is it like where you live?

 

[wtpntigger2]

We're in a middle class western suburb of Chicago. First year teachers with a BS make just about $35,000 in our district. With a Masters, they start out at about $38,500. That's more than my SIL makes now even after teaching for 25 years in the same town but in a Catholic school!

I am starting my 5th year of teaching in a west Chicago burb and just got my master's and I will be making just over $46K.

Hopefully, DD won't have a had time finding a Special Ed position in 2 years when she graduates.

She should have noooo problem. In fact, too bad she isn't ready for a job now as there is an awesome PT position available at my middle school that just opened up (it was mine). I decided to go FT, but whomever takes that position will have the nicest kids and easiest teaching schedule.

 

[Kate and Pete]

I agree - it totally depends on where you are! I live on the coast of Maine - the town I teach in is the home of the uber-wealthy in the summer - and of working class folks year round! The tax base is so high, it's pushing people out of their homes...

My dh and I own a home that is 1200 sq/ft (pretty small!) and cost us $120,000 (and it was a mess when we bought it!). That was the cheapest thing on the market three years ago - and prices have only gone UP! Maine recently increased it's base pay for teachers to $30,000 - which is liveable for one person. I've been teaching for seven years, and have my M.ed and will be making around $43,000 - which is good - aside from housing, cost of living is quite low here, so we have extra play $ (and no kids).

My sister moved to AZ and was making $40,000 her first year - she was psyched until I told her, "There's no such thing as a rich teacher!" She was making that much because it cost much more for her to live there! (She's now in Boston, making $35,000 or so...)

 

[barkley]

i think another thing that can throw off comparisons is the circumstances under which a person came to live in the area they now reside in.

take us for example. we moved to an area of washington where dh will likely make as much as 50% less than he made for the identical job in california. housing is of course much less expensive than california, but it's comparable in size/design and PRICE to what we paid for a new home in '99. so for a person who is looking at working in the industry my dh is in, and purchasing a home that is neither high end nor low end-if i crunch the numbers the will end up a bit better off than someone with the higher california wages who purchased 'back then' but not much (while lower initial property taxes and homeowners insurance gives them a benefit, because of property tax laws in california that cap a value on property the washington state homeowner may see their property taxes increase at a higher rate as home values increase than their california counterpart). now, taking that into consideration-allot of the people in the area we moved to are california transplants. they owned homes in california and took advantage of insane increases in home values, parlaying their previous home's equity in purchasing outright or near to outright new homes up here. they therefore do not have to consider beyond upkeep, property taxes and homeowner's insurance any housing costs. this can cause them much more flexibility with those reduced earnings-and much more non discretionary spending.

i've found that while some items in washington vs. california are much less costly (housing, auto insurance, car registration, some grocery items-meat and dairy in particular, telephone services/dsl, gasoline) some are right on par with california (private school education for example-almost identical in cost, clothing, entertainment) and some are much higher (services-never paid sales tax on many of the things i pay this on now, many of the 'luxury items'-hair care, manicures/pedicures, massages). when i look at the overall 'picture' the cost of living is given the wages that are offered, comparable to the cost of living we had in california (but since we too were one of those people that parlayed our former home sale into purchasing a home up here-we are in a much stronger financial situation).

 

[maxtomsmom]

So what would a meager, average, and great income be where you are?

Here, in central Kentucky (much different than smaller towns in Kentucky, btw) there are people who make $0 and are on welfare. There are people who make $20,000 and might have some government assistance. There are others who make $35,000 and are doing fine, but can't afford many extras. Then, I'd say, those making $60,000 - $75,000 are doing well, live in a nice house, but not huge or extravagant, take vacations, but not big ones too often. If you make over $80,000 here you most likely live in a very nice, big, newer (or historical) home, drive new cars, take vacations, etc.

BeWhat is it like where you live?

This is for the surrounding tristate area of NYC which includes all the boroughs of NYC, Long Island, Westchester, Rockland, Putnam, Dutchess, and Orange Counties of NY. In Northern NJ and in parts of Connecticut as well.

The average home value in Westchester is $750,000 for a 2,000 square foot home. This is why we are moving. The taxes are extremely high depending upon where you live. We just sold our home for $575,000. It was built in 1928 and it is 1500 square feet with a little less than a 1/3 acre. We have a back yard which is huge in Southern Westchester. We live in a city - White Plains. The schools are ok, but not the best. Our taxes are approx. $6,000 a year.

Put our home in a more affluent area such as Scarsdale or Rye we could get $800,000. We are also seeing a downward trend in home values for about a year and a half. My house was priced higher two years ago when we refinanced. As in most areas surrounding a major city, the further away the more bang for your buck.

Being all that said, income could be broken down into these levels for the average family of 4:

1) You are desperately poor you make under $40,000.

2) Middle class is anywhere from $85,000 - $110,000.

3) Wealthy is not considered unless you make over $250,000.

The rest of us fall somewhere between these. BTW - These are not statistics from any where just realistic facts working with people and living in this area all my life. It is getting harder and harder for so many people to have a good life that the trend has been to move away.

 

[KKB]

So what would a meager, average, and great income be where you are?

Here, in central Kentucky (much different than smaller towns in Kentucky, btw) there are people who make $0 and are on welfare. There are people who make $20,000 and might have some government assistance. There are others who make $35,000 and are doing fine, but can't afford many extras. Then, I'd say, those making $60,000 - $75,000 are doing well, live in a nice house, but not huge or extravagant, take vacations, but not big ones too often. If you make over $80,000 here you most likely live in a very nice, big, newer (or historical) home, drive new cars, take vacations, etc.

What is it like where you live?

For $100K/year (2 teachers w/ 18-21 years exp, no Master's, but on Master's level of salary schedule), we cannot live like $80K in KY. And I thought cost of living was pretty cheap in midwest. We have an upper-middle class home (could not afford nice big historical homes in our area), we drive 5 year old cars (paid off...I would NOT like the hit of a payment on our budget). We do take one big vacation a year, and several long weekends...though this year we did overlap...we usually vaca in Oct., but DH & I had to push our Oct. cruise to this last March, and we do head to WDW this Oct. So no big vaca last year. I am comfortable with our budget, but it certainly does not afford us MANY luxuries...travel is our one luxury (thus why most of my furniture is 15 years old...)

 

[girli565]

I'm a 2nd year teacher but now on a 3rd year salary because I teach special Ed. My first year I was at step 2 and making 44,535. But I work in a special Zone school where there's an extra hour a day and an extra week of school a year. So I make 20% more than teachers at non-zone schools.

Miami-Dade County teachers have just gotten a raise as of last year so first year teachers for the 2007-2008 school year at regular schools make 38k, next school year they will start at 40k.

In Miami cost of living is a bit high, not as high as say NY but it's up there. My mom and I just bought a house for 350k and it's a coach house, in a new development. 3 bedrooms, 2.5 baths. A coach house is like a townhouse where the first floor shares walls with the next door houses but the second floor is not sharing any walls. And we are living way south than people normally think of when they hear Miami. The further south you go the cheaper houses get but they are not really that cheap.

Townhouses in Miami run 250-300k, coach houses 350-400k, single family 420-700k depending on what you want. And this is in the areas not around or even in close proximity to the beac. that will run you in the millions.

 

[rgmartin]

Here, in central Kentucky

Fellow Kentuckian here Where in Kentucky are you? I am in mid-west Kentucky - average home price is $110,000 in our "city" of 90,000 people. Average household income is around $50K. "Poor" equals less than $20K, "wealthy" is $100,000 or better.