[big al]

How a Family of Four Manages to Live Well on Just $14,000 Per Year - Yahoo! Finance

In the years since the recession, the median household income in the U.S. has dropped to just over $50,000, while fixed costs like health care, higher education, and housing have only soared. Now imagine trying to support a family of four on a fraction of that income.

It's a reality that stay-at-home wife and mother of two Danielle Wagasky has lived for the last four years. And, perhaps a little surprisingly, she wouldn't have it any other way.

Wagasky, 28, lives with her her husband, Jason, 31, and their two young children in a three-bedroom family home in Las Vegas, Nevada. While Jason, a member of the U.S. Army, completes his undergraduate studies, the family's only source of income is the $14,000 annual cost of living allowance he receives under the G.I. Bill. Despite all odds, the family has barely any credit card debt, no car payment, and no mortgage to speak of.

 

[Deebo]

Thanks for a great story, read it all. Just proves "the more you make the more you spend".
I am proud to say I might have low credit status, but I owe only a few hospital bills, no credit cards or any crazy interst loans, my truck is financed at 2.99 and I feel ok with that.

 

[JPARIZ]

According to that I'm definitely doing something wrong. Everything we have, house, vehicles, toys etc. is paid for. Credit cards are paid in full each month and so on. We have a kid in college but he is doing rather well without much help. It still costs us $35-$40k per year to live. I wouldn't say we were living high on the hog either just an average married couple that rarely go out. About the only bills we have are taxes, utilities, occasional medical bills, food & normal home maintenance. Obviously it's time to go over our finances & see where we are screwing up. I could get pretty excited if I could cut that number in half.

 

[big al]

I feel your pain guys - but this article has motivated me to reduce my spending and increase my savings

 

[JPARIZ]

It could be the massive 1,400 sq ft mansion we live in. It's got two bedrooms and we really only need one now. I'd fire the maid, butler, chauffeur & gardener but we don't have any of those. Perhaps my wife has a magazine subscription I don't know about.

 

[JPARIZ]

I figured out part of our problem... it's buying the Girl Scout cookies we never wanted in the first place. I think they have our house staked out & were on a nationwide list. They learned real fast to hit us up separately knowing we are too embarrassed to admit to each other we bought more cookies. Last time I tried to blame it all on my wife "why did you buy 6 million boxes?" She didn't fall for it and I was busted.

 

[JPARIZ]

better tone your generosity down or you'll get the zombie-scouts later

I'm generous but not stupid. I give away what I'm comfortable with giving. God help the fool that tries to take more. It has served me well over the years and I have seen evidence of it catching on.
Zombie kids would be a serious problem. No issues with taking out zombie adults but kids... I might hesitate & get my brain eaten.