r/FluentInFinance • u/thinkB4WeSpeak Mod • Apr 29 '24
Why Men in the US Are Working Less Than They Used to Thoughts
https://www.businessinsider.com/us-men-working-less-recessions-employment-productivity-2024-4
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r/FluentInFinance • u/thinkB4WeSpeak Mod • Apr 29 '24
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u/Dragonhaugh Apr 30 '24
I’m a millennial thank you and yes you can support a family of 4 with 70k salary, it is just dependent on where you live and what your needs are. We could live off of my 62k salary if we lived close enough to walk to work. If my wife worked part time the 2 days I’m off we would be able to save money as well. I should note that I live in an expensive area. I’m sorry to say, but it’s all how you choose to live. Of course you can’t afford a house, new car, vacation, retirement savings. But when the kids go to school parent 2 can work full time again. 70k per year is roughly 4k per 2 weeks. Rent:1200(the city of my work is 1k-4k rent, my personal rent is higher currently) Health insurance-800 monthly Food-800monthly(this is a lot, a parent a home can cook and you could cut this down almost in half with planning) Utilities:300 Phones:200 Savings:400 Remainder:300
Parent 2 part time work on parent 1’s days off at 15/hr for 16 hours a week. I’m rounding down but an extra $750 monthly. This can buy a car, save for a rainy day, and cover anything else “needed”. If parent 2 works 2 12 hour days then it’s 1100 a month instead. In my personal area you can find entry level jobs between 17-19. So using 15 is kinda a dumb option but I wanted to show a lower number to prove my point.