Moving to New Jersy City - with wife and 2 kids (Jersey City: apartment, rentals)
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i Was offered Moving to New Jersy City (Working visa) - with wife and 2 kids.
for a salary of 130,000 $ a year (before taxes) , only k401 included .
i would need a basic car and day care for 2 children (both under 4 years old) .
consuming the fact my wife will NOT find a job,
should that be enough ?
please tell me how close am i with my calculation
------ monthly expense - how close am i ?
Rent (2 bedroom) 1500$
Day Care for 2 children 1500$
Car + insurance +gas 1000$
Bills 1000$
Groceries 500$
Tv + 2 X Smart Phone 200$
Shopping / Life Style 500$
i Will be working next to Harborside HBLR Station
How far do i have to live for a good neighborhood ?
You should really sit down with an accountant or financial planner and make calculations. With a salary of $130k, you will be paid over $10k a month, but it will be much less after all the taxes and deductions. One thing I need not see in your calculation is health insurance? Do you have an employer policy with discounted rates? Even the best policies could end up costing you $150-250 per month for medical/dental/vision for 4 people.
As far as your other expenses, groceries of $500 seem low for a family of four. I spend more than that just for myself and one daughter. I think you should budget $800 for food. $1000 a month for a car seems high. Car insurance in NJ might cost you $1500 a year, but unless you have a huge car payment I think the $1000 a month is high. Gas is relatively cheap in NJ, unless you're driving a lot, you might only fill up once a week, which right now would only be about $40 for a Honda Accord.
Your daycare expense seems very high to me, but then again my kids are older now. If your wife won't work, then consider going down to 2 or 3 days a week of day care. Jersey city has a large immigrant population, you can also find a mothers helper or nanny/babysitter. You can take a pre-tax deduction of up to $5000 for daycare, which is about $400 a month. Since you don't own a home, you may as well take advantage of the FSA or health account ($2500), child care ($5000) and 401k tax breaks.
At your salary you have a marginal tax rate of 28%, and then you will like pay 5-6% in state tax. Your take home pay would likely be about $3000 per pay period (or $6000 a month), after deductions for taxes, FICA, medicare, healthcare, 401k etc. What you listed above is $6200, which will exceed your take home pay.
If those numbers are really your expenses, you need to evaluate your spending habits. Bills of $1000 a month? That is very high. Do you mean utility bills, or do you just owe a lot of money? Shopping/lifestyle of $500 seems high as well. If you can combine your utilities/credit card bills and "shopping-lifestyle" to $1000 total, then you can start saving money!
It depends where you are moving. New Jersey rental costs vary greatly depending on the area. You'll likely need to increase that housing budget with 2 kids. Daycare will be slightly more than you're budget, maybe about 1800 to 2000 but if your wife doesn't work or if your kids are in school you can eliminate or reduce this expense. Did you include auto insurance? That can be 100 per month. Your net should be $6000 and change per month.
You are working in Downtown Jersey City. If you want to stay local (which is a very safe, luxury area) and walk to work, here's what the top three lines of your budget should look like assuming your children are not public school age.
------ monthly expense - how close am i ?
Rent (2 bedroom) 3000-3500$
Day Care for 2 children 3500$
Parking spot 200$
I'm not sure what makes up the other lines (like bills) since that is very specific to your family's spending habits but these three are pretty fixed costs.
If you move out to one of the more affordable suburbs commonly mentioned on this thread (say Lyndhurst, Rutherford, West Orange, Woodbridge/Edison, etc) you may be able to cut your rent down to $1500-2000 and daycare down to $2000 but you will need to add in train pass which may be $100-300 depending on where the town.
Other tips, don't try to drive to work. I know that area really well. Rush hour traffic sucks if you take the free/cheaper roads or you're looking at $10 a day in tolls easy (Turnpike + I-78).
Let us know what you consider to be a "good" town and your max commute requirements and many on this board can make more affordable suggestions
Thanks for everyone , I hant moved yet, I am checking if I should do it, I have no idea about the prices in u.s I have even never visited u.s
So all the price I gave was
"Google gussing"
I work as a destination services consultant to settle clients into Jersey City regularly, and the advice given by others sounds pretty right on. Rent is the worst cost and for a 2BR in Downtown in Exchange Place/Newport or Hamilton Park even, you will be looking at $3000 plus. Even 1BR can be at $3000 level, with city views or close to water. Parking costs are accurate too.
Mrs Piggle Wiggle's town list is a pretty decent list of nearby alternatives which are safe and have lower rents. Commuting by train would be easier than road for sure.
You can also look at other Hudson County townships including North Bergen, Palisades Park, Cliffside Park or Leona, which are also lower rents (2BR possibly$2000-$2500) not luxury places like waterside JC but are pleasant and nearby. You would need to commute by bus most likely from these to JC. If you do decide to relocate, there are plenty of people here with detailed experience to assist.
Daycare at any of the good places in jersey city are about 2100+ per month for ONE child. Although, if your wife isn't working, you won't need daycare, right? In Jersey city, there is a free Pre-k 3 and Pre-k 4's program but not all of the programs are good, and the good ones can be hard to get into and require early registration.
Your rent is way off, sadly. You aren't going to find a 2 bedroom in that price range in a safe neighborhood in J.C. You may find one in the $2000 range near Journal Square. If your work is near the light rail station as you say, you can look into Bayonne. It's quite safe, and rents are cheaper--I'm sure child care is safer, too. It's not ideal for people working in Manhattan, but if you are working in J.C., then the light rail would be a great way to get to work.
You can also check out Rutherford or the towns the other posters recommended.
Thanks for everyone , I hant moved yet, I am checking if I should do it, I have no idea about the prices in u.s I have even never visited u.s
Sorry for unsolicited advice, but you might want to visit the US before you decide to move here. This country is not for everyone, what if you don't like it?
Just also wanted to reiterate that health/dental/vision/long term disability insurance is a substantial cost in the tri state area, especially for a family of four. I pay about $800 a month pre tax for a family of three with one child. Also, full time, private, good quality health care is at least $1000 a month, especially in the JC area....
If you do decide to move here, you best bet will probably be not to live in Jersey City. This is probably one of the most expensive areas of NJ and it looks like the salary you are going to get might not be enough.
Daycare at any of the good places in jersey city are about 2100+ per month for ONE child. Although, if your wife isn't working, you won't need daycare, right? In Jersey city, there is a free Pre-k 3 and Pre-k 4's program but not all of the programs are good, and the good ones can be hard to get into and require early registration.
Your rent is way off, sadly. You aren't going to find a 2 bedroom in that price range in a safe neighborhood in J.C. You may find one in the $2000 range near Journal Square. If your work is near the light rail station as you say, you can look into Bayonne. It's quite safe, and rents are cheaper--I'm sure child care is safer, too. It's not ideal for people working in Manhattan, but if you are working in J.C., then the light rail would be a great way to get to work.
You can also check out Rutherford or the towns the other posters recommended.
He's working next to the Harborside HBLR.
You can live on the eastern end of the Jersey City Heights or at the tail end of Union City for that price. You want to be within walking distance of the 9th Street Light Rail or the 2nd Street Light Rail. This not only puts you near public transport, it also means your wife will be walking distance to grocery stores. 9th Street light rail area is 5 minute walk to Shoprite, which is better than the Supreme near 2nd street light rail. There are plenty of Indians here now, I see them in Riverview Park all the time.
Put your kids in the free pre-K that they give you for a couple of months and line up for the better places (Concordia) next year. Union City has a very nice pre-K program and a Blue Ribbon (magnet) school too. Bear in mind that entrance to the magnet elementary is not guaranteed but the NYTimes has written recently about the massive improvements in UC for education up to about 5th grade. These articles are all google-able.
Don't live on the side of the Heights or Union City past central. You want to be a quick walk to the light rail. That means in JC from Ogden to Sherman or Webster and in Union City probably not past 4th street as close to Palisade avenue as possible.
Another city is Weehawken but I'm not sure they are an Abbott district (free pre-K) or not.
Healthcare costs vary very widely, depending on the employer and plan. When I worked for a large company, my monthly premiums were only about $200/month for a family of 4. However, if you work for a smaller company or one that does not offer high-end medical, you will end up with a high deductible ($2500-4000) policy, and even that can cost you $900 a month. Under ACA it could be as much as $1300, and at your income level you won't get any government credits for health care.
Several have suggested that the OP live elsewhere besides JC. However, then he will need a car, which is a significant expense. If the rent in JC is higher, but the family can live without a car, then it might be a wash.
Quote:
Originally Posted by DefiantNJ
Sorry for unsolicited advice, but you might want to visit the US before you decide to move here. This country is not for everyone, what if you don't like it?
Just also wanted to reiterate that health/dental/vision/long term disability insurance is a substantial cost in the tri state area, especially for a family of four. I pay about $800 a month pre tax for a family of three with one child. Also, full time, private, good quality health care is at least $1000 a month, especially in the JC area....
If you do decide to move here, you best bet will probably be not to live in Jersey City. This is probably one of the most expensive areas of NJ and it looks like the salary you are going to get might not be enough.
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Jersey City
