Viewing a single comment thread. View all comments

ThrowawaySF__ OP t1_j6o6wt2 wrote

Reply to comment by Liquidretro in How much car can I afford? Typical rule of thumb doesn't work for me. by ThrowawaySF__

Totally agree with you and sorry I wasn't clear.

The 8400 per month is after fixed expenses but doesn't include the unfixed expenses: groceries, kid stuff, restaurants, travel, vacations, gifts for family/friends, weddings, clothing, etc.

Re: one car vs 2, we used to be able to be on a WFH/hybrid work schedule but now I have to go back into the office.

1

Liquidretro t1_j6o7xr9 wrote

Sounds like you should add a high end suv payment into that list of optional (I would out groceries on the necessity side) priorities and see where it falls.

We have don't have a very complete financial picture to really assess how much you can afford. IMHO part of having a higher income to me means less financial stress when things come up that might give a family with a more average income cause for great stress and concern. I think the easiest way to do that is to live under your means and have a more than adequate emergency fund.

1

ThrowawaySF__ OP t1_j6oa1ef wrote

Agreed (again).

My wife and I had a bunch of things happen all at once. We used to be renters in a much lower COL city with somewhat comparable income. Then, we had a layoff + a new job, so we moved, rented for a bit and then bought a house, and had kids basically all in the span of around 18 months. We used to live with essentially zero financial stress and while I'm fully aware that we still have it pretty good, we have never had to pay as much attention to personal finances as we do now.

1