Will my Salary Cover the living cost in Carol Stream ? (for sale, house insurance)

[Tornado86]

Will a family of 4 ( mother, Father & two kids 1 year) survive with $ 35k a year if we live in paid off house in Carol Stream ? what is the average cost of living will be (Grocery, utilities, Tax, Gas to commute to work with in 30 mile radius, etc), any input will be great about the average we need to survive.


Thanks,

[pvande55]

If the house is worth $200k, the taxes about $5k, upkeep $2k, total $7k. That's only 20%. Second largest expense transportation. 60 miles * 250 days * $.60 = $9k commuting, $2k for miscellaneous, even less if you can commute on the train. The two biggest expenses not even half. You should do fine.

[ToriaT]

Try to shop at Aldi's to save money on food.

[Tornado86]

Originally Posted by pvande55

If the house is worth $200k, the taxes about $5k, upkeep $2k, total $7k. That's only 20%. Second largest expense transportation. 60 miles * 250 days * $.60 = $9k commuting, $2k for miscellaneous, even less if you can commute on the train. The two biggest expenses not even half. You should do fine.

what about property tax on cars ? Decals, tolls, insurance, utilities etc. do you have any idea ?

[Tornado86]

Originally Posted by ToriaT

Try to shop at Aldi's to save money on food.

I shop from Aldi too and love it.

[pvande55]

Originally Posted by Tornado86

what about property tax on cars ? Decals, tolls, insurance, utilities etc. do you have any idea ?

No property tax on cars, just license plates and city sticker, less than $300 a year. Tolls depend which road you drive. 294 about 6 cents a mile, 390 will be 20 cents when it opens. Insurance you need to get quotes. Utilities (electric, gas, water, cable) $200 to $500 a month.

[vsc1976]

why carol stream?

[hj630]

don't forget car, house insurance. And your medical bills. I track my transaction every month. family of 4, 2 kids under 2. grocery, transportation are only small parts, its always the impulse buy that drive the spending high. Like tv, phones


I work in energy sector so we live pretty efficiently, so utility bill under 200 for gas, electricity, internet, cell, water sewage and trash. Two hybrid cars, so gas less than 100 month. look for sales in grocery, we spend less than 500$/mo on groceries. I did calculation and my essential spending is only 10% of my total spending last year.... Tho I did bought a new house/furniture and bought a car. But this year, the essential spending is still less than 25%...