How much money is sufficient for you?

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The discussion centers around the financial requirements for living a luxurious life, with various participants sharing their perspectives based on personal experiences and geographic locations. A common theme is the significant variation in living costs depending on where one resides, with some arguing that $10,000 a month is excessive in certain areas, while others find it barely sufficient. Participants reflect on their past experiences living on lower incomes, emphasizing that expenses often inflate with income, leading to a cycle of financial strain regardless of salary increases. The conversation also touches on the challenges of raising children, with one parent expressing concern over their daughter's high spending habits, particularly on food and lifestyle, and the impact of such habits on future financial stability. Overall, the thread highlights the complexities of budgeting, the influence of lifestyle choices on financial well-being, and the importance of teaching financial responsibility to the next generation.
  • #31
What kinda guy would refuse that ! :eek:
 
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  • #32
Moonbear said:
As for your younger daughter, it's okay to not like cooking, as long as she knows how to cook enough to survive when she's on her own someday.
I think she might manage to throw a tv dinner into the microwave, except she hates frozen food. I guess if it was a life or death situation...

I like your attitude about that! I'm still looking for a guy who will let me do the whole wedding registry at Home Depot. You wouldn't think this would be so difficult. :-p
Moonbear, we are incredibly alike! But I guess that's because we're identical twins. :approve:
 
  • #33
Zantra said:
Jesus H>..ok I won't say it.. but you know.. how do you spend 1k/month on food every month for 1 young girl? I could have steak and lobster every single day for half that...

I have a daughter myself, but I'd venture to say that your daughter lives better than most working adults.


i spend less the $500 on food for a my husband and i, and half the time when my two kids are with me. we go out for dinner once, maybe twice a month, and everything else is made at home. i used to be able to spend $300 a month on food for four, but not anymore.
 
  • #34
I guess I should also mention that my younger daughter volunteers at a local nursing home, it really saddens her that they are so alone and that any little thing she does makes them so happy.

She also volunteers in a high school peer program where she helps kids that have been arrested and/or do drugs. She wants to be a psychologist when she grows up so she can help people. She is very good at this.

She is also the type to give someone the "shirt off her back"...literally, another reason her clothing costs are high. :bugeye:

She doesn't do drugs, she doesn't drink, she isn't wild and crazy, she calls me constantly to let me know where she is so I don't worry, she runs errands for me, she buys me little gifts where ever she goes to let me know she's thinking of me. Her school went to the zoo last week and she knows I love hippos, she bought me a little stuffed hippo. She always does things like this. Her friends adore her because she is so selfless and caring.

Unfortunately she loves to shop. :cry: :cry: :cry:
 
  • #35
Evo said:
I think she might manage to throw a tv dinner into the microwave, except she hates frozen food. I guess if it was a life or death situation...

That sounds like me before I moved out on my own and got my first apartment. The rent wound up being a little hard to meet, but, luckily, a friend of mine decided he wanted to move away from home, too. The first day, I made spaghetti and he wasn't very hungry. But, then, about an hour later, he ordered a large pizza and finished it off single-handed. The second day, he moved back home to his family.

For awhile, I tried renting basement rooms from families so maybe I could eat with them. Usually, they got pretty tired of me and decided they didn't need the extra money as bad as they thought they did. I hated that. It usually took a couple of weeks for my body to adjust to my own cooking.

Hitting fast foods didn't work out very well, either. Finally, after being diagnosed as suffering from malnutrition, I gave in and learned how to cook. In fact, by time I married, I was a better cook than my wife.

So, there's hope for her, yet. :biggrin:
 
  • #36
Life in the US is REALLY expensive! My family of 5 spends around US$400 on food a month, so that equates to around US$80 per person - a real small portion of our monthly expenses. We eat out around twice a week, which costs the whole family around US$ 15 a meal (not per person!).

Coming from a very well-to-do family (on par with American standards), I cost my parents just US$180 a month:

1. I don't pay for school as schooling is subsidized by the government. US$0.

2. I wear second-hand clothes from my mother (we share same cloth sizes, and she's incredibly up-to-date with fashion :smile:). US$0.

3. I don't own a mobile phone because no one calls me so I don't have any phone expenses. US$0.

4. Food. US$80

5. DVDs. US$15

6. Unfortunately, there aren't any good libraries where I live, so I spend quite A LOT on books. US$50

7. I share the internet with my father, and my young brother uses it for games. However, the internet connection is very expensive and costs US$40 a month. My share of the expense: US$25.

8. Household electricity and gas, and also car expenses costs US$40 a month. My share of the expense: US$10.

Of course, I'm only 15 so the expenses are going to grow as I get older. By the time I'm in university, I'll be costing my parents US$30,000 annually, unless I manage to qualify for financial assistance. I hope to be working part-time by then.
 
  • #37
Evo said:
I've tried. :cry:

She has many talents, cooking isn't one of them.

I'd be glad to try, Evo. :biggrin:
 
  • #38
I cannot fathom spending $37US/day on food! I spend maximum $70 per week (Canadian) on food, and I think I eat quite well. I'll eat out for lunch 2 or 3 times a week, the rest is home made (by me). This isn't prime rib or lobster, but it's not ramen noodles either. Cost of living I guess.

As a grad student, I've been getting by on $24k-$30k per year (depending on teaching load) and managing to save a good chunk each year. I don't spend much money, but I don't really feel deprived of anything either. I'm used to living cheaply I guess.
 
  • #39
When I was in my teens, I was treated for malnutrition because I would get too busy to eat. I wore a size 0. Which is smaller than today's size 0 (my older daughter wears a size 0 and she can't squeeze into an old pair of shorts I wore after she was born). Muwahahaha. :devil:

I can live (and sometimes do) on a can or two a day of 50% fat free vienna sausage from Walmart (38 cents a can) and my coffee, of course. My daily food expenses - $1.50 at my worst (cheapest).

Recon, that's incredible, a meal for your family for $15? How many in your family?

Chrono, I might be calling you. I'm hoping once she goes away to college she realizes she needs to either start liking frozen and canned food or learn to cook. That's when her sister suddenly wanted to learn to cook. :rolleyes:
 
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  • #40
Evo said:
Chrono, I might be calling you. I'm hoping once she goes away to college she realizes she needs to either start liking frozen and canned food or learn to cook. That's when her sister suddenly wanted to learn to cook. :rolleyes:

I'll be waiting. I'll teach her all I know. Plus, I work at a grocery store, so I can give her the secrets to that, also.
 
  • #41
recon said:
Life in the US is REALLY expensive! My family of 5 spends around US$400 on food a month, so that equates to around US$80 per person - a real small portion of our monthly expenses. We eat out around twice a week, which costs the whole family around US$ 15 a meal (not per person!).

Coming from a very well-to-do family (on par with American standards), I cost my parents just US$180 a month:

1. I don't pay for school as schooling is subsidized by the government. US$0.

2. I wear second-hand clothes from my mother (we share same cloth sizes, and she's incredibly up-to-date with fashion :smile:). US$0.

3. I don't own a mobile phone because no one calls me so I don't have any phone expenses. US$0.

4. Food. US$80

5. DVDs. US$15

6. Unfortunately, there aren't any good libraries where I live, so I spend quite A LOT on books. US$50

7. I share the internet with my father, and my young brother uses it for games. However, the internet connection is very expensive and costs US$40 a month. My share of the expense: US$25.

8. Household electricity and gas, and also car expenses costs US$40 a month. My share of the expense: US$10.

Of course, I'm only 15 so the expenses are going to grow as I get older. By the time I'm in university, I'll be costing my parents US$30,000 annually, unless I manage to qualify for financial assistance. I hope to be working part-time by then.


Now THAT sounds more on par with a typical teenager.. Evo, evo, evo- teaching your daughter to cook will not only teach her a valuable skill that will encourage her to leave the nest by the time she's 35, it will be a BONDING experience. I make a decent living myself-not as much as you, but it's still decent, and was REALLY good when I was single and eating out every day- I never cooked- and I still didn't spend that much money on food. Either she's spending the majority of the money on shopping, and telling you it's for food, or you're setting yourself up to break the bank when big occassions hit. A child needs to eat healthy food, but the average teenager doesn't eat out every night.. just an FYI... But you know, call it advice, not lecture..

and on another note, what DOES a teen need with a cell phone? I don't think ANY teen is popular enough to deserve a cell. here's a roll of quarters, call anytime- better yet, take a phone card...

ok I'm crotchety :-p
 
  • #42
Evo said:
When I was in my teens, I was treated for malnutrition because I would get too busy to eat. I wore a size 0. Which is smaller than today's size 0 (my older daughter wears a size 0 and she can't squeeze into an old pair of shorts I wore after she was born). Muwahahaha. :devil:

I can live (and sometimes do) on a can or two a day of 50% fat free vienna sausage from Walmart (38 cents a can) and my coffee, of course. My daily food expenses - $1.50 at my worst (cheapest).

Recon, that's incredible, a meal for your family for $15? How many in your family?

Chrono, I might be calling you. I'm hoping once she goes away to college she realizes she needs to either start liking frozen and canned food or learn to cook. That's when her sister suddenly wanted to learn to cook. :rolleyes:

not to play shrink,but is it possible that your malnutrion problems in your youth might be why you're just a tad overzealous when it comes to your daughter's eating habits?

or maybe you should just support me.. I need to eat better, and I would like 1k/month to eat on.. I accept paypal visa or mastercard feel free to the zantra steak and lobster food bank fund :biggrin:
 
  • #43
Zantra said:
and on another note, what DOES a teen need with a cell phone? I don't think ANY teen is popular enough to deserve a cell. here's a roll of quarters, call anytime- better yet, take a phone card...

Only reason I have mine is because my parent's are too paranoid about me and want to make sure that I can reach them if I need to, which translates that they can reach me whever they want.
 
  • #44
Colorado Springs is almost a low cost area. Housing costs are high, but you can still find a good price if you look hard enough. The rest of the costs are pretty low.

We used to spend around $600 a month on groceries for a family of 6. Even with ordering pizza or eating out once in a while, we spent less than $800 on food. Of course, we still spend as much, even though my two oldest daughters have moved out. We just buy the expensive ketchup, now (Dijon ketchup ... mmmmm! :wink: ) We still shop at the commissary on the military base for most of our groceries, but, living in a town with five military installations, the commissaries drive prices down even in the commercial grocery stores.

We spend about $1000 a month for a four bedroom house. It's a little older, but I like that - it actually has trees. It has seven ponderosa pine trees in the front yard and a few miscellaneous trees in the back (unfortunately, all but one is going to die - we've had some sort of tree disease in the city and two of mine are already showing signs). Plus, at least in the winter when the leaves fall off the trees, we have a good view of Pikes Peak. Of course, the down side is that every tree in my yard has found the main drain and the Rotor-rooter visits are approaching two per year (in fact, while the robin is the first sign of spring in most places, here, the Rotor-rooter trucks parked up and down the street are the first sign of winter).

Utilities combined run anywhere from $120 a month up to $200 a month, depending on the weather. This summer was pretty good. I had the sprinkler system turned off for almost two months straight (water is usually a killer, but, now, I think gas will outstrip it). Enough firewood to last from fall to spring costs around $200 (it's cheaper if you buy next year's supply this year and let it finish drying at your house).

Cheap entertainment. Most of the time, the only cost is gas. Sometimes you have to add $4 to $25 dollars for park and camping fees. Maybe an occasional rafting trip at around $50 a person (well worth it around the beginning of June when the river flows peak) or a kayak weekend for around $250 or a train ride back down from the top of Pikes Peak at about $25 a person (only wimps ride the train up - real mountain people hike up).

The rest is all junk. Around $100 for cable TV and internet access. Nearly $600 for car expenses. Around $120 for phone service (with cell with unlimited long distance). Clothes, who knows, it varies. My wife's seemingly endless vacation around $1500 a month, plus plane tickets (Darn, I just remembered, for her trip home I meant to say "Damn the cost! I'm picking the flight with most layovers!" - especially a layover in Chicago, the black hole of air travel. I'm going to have to go back and see exactly how much that change fee is).

Plus, we have to buy a truck to haul out the junk we've bought for my grandson so we'll have room to put the new stuff we're sure to buy him. Geez, between us and my son-in-law's mom and uncle, that kid is spoiled much more than Evo's daughter. :biggrin:
 
  • #45
Chrono said:
Only reason I have mine is because my parent's are too paranoid about me and want to make sure that I can reach them if I need to, which translates that they can reach me whever they want.

well.. ok I could see that.. especially if it's a young lady out for the night...
 
  • #46
Evo said:
For dinner, let's say she eats at Olive Garden (cheap), $16.95 for the entree
Umm.. Evo. This is not cheap. This is very expensive food, even for restaurant fare. I can easily go to a Thai restaurant and have a full, satisfying meal for under $10, tip included. I would certainly not eat a $17 entree every day! That's absurd. You can make just about any pasta dish for less than $4 a plate.

- Warren
 
  • #47
Evo said:
One area I will not cut back on is nutritious meals for my daughter. If it costs me a bit more, I really do not care.
An Olive Garden entree with appetizer, soda, and dessert is not nutritious. Expensive, yes. Enjoyable, maybe. Nutritious, no.

- Warren
 
  • #48
Zantra said:
Either she's spending the majority of the money on shopping, and telling you it's for food, or you're setting yourself up to break the bank when big occassions hit. A child needs to eat healthy food, but the average teenager doesn't eat out every night.. just an FYI... But you know, call it advice, not lecture..
She has a debit card so I can track her expenses, yes, it's on food. Or perhaps..she's buying food and selling it on the street to get money for clothes! :biggrin:

She has to eat out every night because I get home too late to cook. I'm a BAD mother. :cry:

Also, I insist she has a cell phone so that I can reach her whenever I want and she has a way to call for help if her car ever breaks down.
 
  • #49
Evo said:
Unfortunately she loves to shop. :cry: :cry: :cry:
Well, you're the one handing her the cash, and you're making crying faces? Put the girl on an allowance (and no, $3000 a month is NOT an allowance) and teach her to act responsibly before it's too late. Despite your rationalizations, she is, in all honesty, spending money extremely unwisely. Most people do more damage to their financial stability in the first couple of years out of college than at any other time, and she's going to graduate and expect to have $3000 a month of disposable income, and it's not going to happen.

- Warren
 
  • #50
Evo said:
(my older daughter wears a size 0 and she can't squeeze into an old pair of shorts I wore after she was born).
Then I really have to wonder how much of that $17 Olive Garden entree she's actually eating. Is it possible she's fitting the typical American standard of wasting 80% of every meal?
I can live (and sometimes do) on a can or two a day of 50% fat free vienna sausage from Walmart (38 cents a can) and my coffee, of course. My daily food expenses - $1.50 at my worst (cheapest).
You don't need to argue such extremes. There's a whole spectrum bewteen $1.50 crap and $37 luxury. Many decent restaurants offer excellent, complete meals for under $10.

- Warren
 
  • #51
chroot said:
Umm.. Evo. This is not cheap. This is very expensive food, even for restaurant fare. I can easily go to a Thai restaurant and have a full, satisfying meal for under $10, tip included. I would certainly not eat a $17 entree every day! That's absurd. You can make just about any pasta dish for less than $4 a plate.

- Warren
For some reason, restaurant food here is not cheap.

You can make just about any pasta dish for less than $4 a plate.
But you can't buy it at a restaurant here for that price. An entree at Applebees, TGI Fridays, Olive Garden, etc... which I consider sit down fast food will start around $16. You "can" make healthy choices. Obviously I wish I could be home to make her food, or that she was willing to cook, but that's not going to happen. Since I make enough money that it isn't an issue, it's not an issue.

Now if she wanted to eat at restaurants where a meal for one person was $75 or more, I'd have an issue.
 
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  • #52
chroot said:
Then I really have to wonder how much of that $17 Olive Garden entree she's actually eating. Is it possible she's fitting the typical American standard of wasting 80% of every meal?
No, she eats well, she's active.

There's a whole spectrum bewteen $1.50 crap and $37 luxury.
$37 dollars a day is pretty minimal. My per diem from my company is $35 a day because it is only supposed to cover two meals a day, I'm expected to buy lunch out of my own pocket, and everyone complains that it is simply not enough.

Many decent restaurants offer excellent, complete meals for under $10.
I've lived here over 13 years and I have yet to find a single one. A lot of things are cheaper here, dining out is not one of them.
 
  • #53
Evo said:
An entree at Applebees, TGI Fridays, Olive Garden, etc... which I consider sit down fast food will start around $16.
Those are not cheap restaurants either. I'll describe some of my eating habits.

There's a Thai restaurant down the street that offers an excellent and large serving of panang curry chicken for $8.00. Throw in a Thai iced tea, tax, and tip, and I'm done (and full) for under $11.

There's a hot sandwich shop called Pluto's nearby which offers a fresh carved turkey or steak sandwich for $5.50. Throw in a side of mashed potatoes and some grilled asparagus and I'm also done (and full) for under $11.

There's another Asian restaurant called Yan Can (named after the TV show, of course) which offers pretty decent (though not particularly healthy) food, $9.15 for a huge plate and a soda.

I can eat a hot Subway sandwich for $8 a meal.

The truth is that an average Olive Garden meal has enough calories for an entire day. There's no point in paying for that kind of entree, which you can't possibly eat in one sitting. Find restaurants which offer reasonable sized portions for reasonable prices. Throw in some fresh fruit throughout the day for a snack. Skip silly expenses like $1.50 sodas from fast-food chains.

I routinely go days without spending more than $10-$15 on food.

- Warren
 
  • #54
Another tip: skip stupid expenses like $8 appetizers, $8 desserts, and $2.50 soft drinks. Many restaurants make the most money of the "incidental" expenses. Ice cream costs $4 for a half gallon in a grocery store. Eat it when you get home.

- Warren
 
  • #55
chroot said:
The truth is that an average Olive Garden meal has enough calories for an entire day.
Or two.

One of the only Thai food restaurants here is one of the most expensive.

She has significantly cut back on her spending. Her father is a compulsive spender. I am the exact opposite, rarely spending money unless it is a necessity.

I've had a lot of talks with her and she really is making an effort to control her spending. I'm proud of how much she has cut back.

Remember, spending is relative. If it is normal in your family to buy a $600 pair of shoes, a $400 shirt, or a $1,600 suit, don't assume what constitutes excessive spending. This is what she sees from her father. He flys to New York and shops at Barney's. For her, this is normal.
 
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  • #56
Okay, since we're talking food, let me chime in too.

My typical lunch is a $6 meal at Charley's (cheese-steak place) or Chipotle (Mexican) or one of the Chinese restaurants around or a pizza place. Occasionally, I'll have a $10 meal at the really nice cafeteria in the on-campus Art Gallery.

Dinner may be as high as $15, if I eat at a nice Thai, Meditteranean or Indian restaurant. This happens only occassionally during the week. Mostly dinner is similar to lunch, or I just eat at home.

I've never spent anywhere near $25 on a meal that I didn't box and take home and subsist on for the rest of the week...okay, that's not entirely accurate. :biggrin:
 
  • #57
Evo said:
I've lived here over 13 years and I have yet to find a single one.
Not to be rude, but I frankly don't believe you. You're telling me you don't have any Thai restaurants or sandwich shops in your state?

- Warren
 
  • #58
chroot said:
Ice cream costs $4 for a half gallon in a grocery store. Eat it when you get home.

It can get cheaper than that, Warren. When it's on sale it may be as low as $2.50 for half a gallon, and that's when it's buy one, get one free. At least that's how it is here in South Carolina.

I agree with you about the "incidental" expenses. I went to a restaurant in Myrtle Beach called "Drunken Jack's" and while we waited 90 minutes for a table they had a bar area and my parents and brother racked up a $50 bill for drinks alone.
 
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  • #59
Evo said:
Or two.
You just told me that she eats all of her entree. Now you're agreeing with my statement that no one can eat all of an entree?
For her, this is normal.
You're the one making the crying faces.

Perhaps it's all about priorities. I'd rather eat more sensibly and have extra money for diving trips, flight lessons, and new telescope gear.

- Warren
 
  • #60
chroot said:
Not to be rude, but I frankly don't believe you. You're telling me you don't have any Thai restaurants or sandwich shops in your state?

- Warren
I said there is a Thai restaurant, it's expensive. It's a novelty here. This is a cow town!
 

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