Howard Stern Show’ Quizzes Obama Supporters in Harlem on Candidate Policies

[The Dad Fisherman]

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Originally Posted by slapshot

average mortgage 1500 - maybe rent, not everybody CAN afford a home. Rent 1300 a month (didn't knock a whole lot off there)

gas - ok

car payment - why? drive a beater if you are struggling, a loan on a depreciating asset makes no sense. Might work except that any beater is now not going to pass inspection so you end up soaking a chunk of money in maintenace to get it to work and pass, and I don't consider a dependable vehicle a luxury, I've never owned a new car but I would like something dependable....(which is going to result a car payment)
food - ok, make sure wife shops sales and uses coupons. $500 is a low estimate even when using coupons. A family of 4 that drinks a gallon of milk every day is spending $90 - $100 a month just on that

health insurance - hard to skimp on that one

retirement savings - 0 if you are in debt. get out of debt first.

random purchases - ?? If you are struggling, you shouldn't be spending 500 a month on clothes and crap. Thats why you are in trouble with the credit cards. Electricity, Water, School Supplies, Kids Fees for Sports (All Stuff that used to be alot cheaper or even free in your Grandfathers Days) Oh and lets talk $1000 a week in Daycare since you have both parents working now to get to that $60,000 a year ( another thing they diodn't have to do in your grandparent's day

Heating oil - tough to save on that too, but there are things that one can do (put on a sweater)

Summer vacations - Again, if you are swimming in credit card debt and car loan payments, you shouldn't be going on vacation for 2k.

I just trimmed a lot of fat out of that budget.

These are lessons that my grandparents learned during the great depression. The same lessons that banks learned, and have forgotten as the old guard changed. People are relearning these lessons the hard way every day.

60k works out to 28 bucks an hour, or 2 adults making 14 an hour. **See Daycare Above**