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I just read a money article on MSN Money

It asked if I could get by on $400,000.00 yearly. The people they were writing the article about were scraping by on it. Their fixed expenses were a $40,000.00 nanny, a $15,000 private school tuition for their 3 year old and their mortgage payment. They also contribute monthly to their childrens' college fund and their 401K. The wife is a dentist and I don't know what he does. They bought Christmas presents for their children after Christmas and celebrated it late (of course a 3 year old and 9 month old wouldn't know the difference anyway). I'm just curious to see what kind of answers some of you moms put down as to how you survive on less than that much money. I don't know about you, but I would love to give it a try.

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Asked by haroldswife at 3:10 PM on Mar. 8, 2009 in Just for Fun

Level 1 (0 Credits)
Answers (8)
  • HA HA HA !!! That is PRICELESS ! (Pardon the pun! ) We raised three kids on about $50K to $75K a year. They all 3 went to college, but with scholarships - no college fund. I was my own nanny, so that saved us $40K, I guess ! (Probably why our kids were well-educated enough that they got huge scholarships for college ! )

    Our retirement fund is not much - $2200/month, and we are soon going to be foreclosed on because we couldn't sell when we needed to and our home has lost $250K in value.

    But we are DEFINITELY "getting by" !

    Answer by waldorfmom at 3:34 PM on Mar. 8, 2009

  • I guess you have to look at each situation individually. If I was working 60+ hours a week I probably would need a nanny and daycare. If I was a dentist I would be living the life so maybe I couldn't get by on that amount!

    Now if I was making 400K/year being a SAHM where I live of course I could get by!!


    Answer by Anonymous at 3:48 PM on Mar. 8, 2009

  • LMBO, we raise our 3 kids on TAKE HOME PAY of $2900 a month. That would be less than $35000 per year but let's just say $40,000 per year after income tax refund and bonuses, etc. We are just lucky to be military. We live in military housing for free, have free medical, good dental insurance, and don't have to pay for electricity, water, or trash pick up. We pay our cable bill, cell phone bill, home phone/internet bill, car payment, car insurance, renters insurance, loan payment, credit card payment, and other miscellaneous bills and have about $450 per month left for groceries and about $300 per month for gas. We send our kids to the base school, and they are on reduced price lunches of 40 cents per day. And I still manage to have about $100 per month to take my family for a fun day out. We also contribute to our retirement fund, about $100 a month right now. Hopefully more soon =). I'd love $400,000 a year lol!!!

    Answer by AprilDJC at 3:51 PM on Mar. 8, 2009

  • 400k in some areas of the country is NOT what you think it is.

    I am no where near 400k--but our mortgage is 3k monthly, our taxes on our house are almost 10k yearly (MN--high taxes)--add what our heat/elect (400 monthly--it is cold in MN), car gas (700) and grocery bill (800monthly) is and now include insurance (260-month/health, 220 month/car/house, kid stuff and misc and the higher taxes that higher middle income get hit with, contributions to our ever dwindling 401k--and we barely hit the break even at the end of the month-and some months we go over. the dream.

    Answer by wunderguurl at 4:21 PM on Mar. 8, 2009

  • I would LOVE to try and 'get by' on that. Holy shizzznickle. Give me a year of that much money and I wouldn't have to spend any money on anything at all for a few years!

    Seriously- I could buy a house, pay all my bills ahead, buy anything we want, pay off his car, stock up on food even more (buy a deep freezer too), stock up on things we will need (everyday or eventlually), and save the rest.

    I would LOVE to even make 1/3 of that in a year WOW

    Answer by shortnsweetisme at 4:48 PM on Mar. 8, 2009

  • We are raising one with $2200 take home a month. No help from state and we are fine. We don't live above our means though either.

    Answer by lincsmom74 at 5:07 PM on Mar. 8, 2009

  • we are raising 4 kids on 20,000 a year....

    Answer by Anonymous at 5:39 PM on Mar. 8, 2009

  • I would love to have the opportunity to have that much money in a year. I wouldn't know where to begin I guess. I could definitely get by and then some. Wow !!!



    Answer by AlohaWahine at 10:35 PM on Mar. 9, 2009

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