Comments on: Five Couples Living on $46k, Number 1: The Ogles http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Chris http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-94227 Chris Mon, 23 Apr 2007 16:30:11 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-94227 A whopping 21% of their income goes to debt! I think they have spending issues, and what exactly is the wife doing? A full time high school student with a weekend fast food job makes more than $200 a month. They apparently eat out a lot, with 21% going to food, so what exactly does this woman do all day? And sorry, energy costs don't 'increase every month', and if she tracked their usage + dollar costs per month she would see the real problem is consumption which goes up and down with the seasons and they could plan accordingly. Even gasoline costs follow a very clear trend throughout the year. And zero savings in their budget, not for emergency funds and none listed for retirement. If their huge debt doesn't convince that woman to get a job, I don't know what would. A whopping 21% of their income goes to debt! I think they have spending issues, and what exactly is the wife doing? A full time high school student with a weekend fast food job makes more than $200 a month. They apparently eat out a lot, with 21% going to food, so what exactly does this woman do all day?

And sorry, energy costs don’t ‘increase every month’, and if she tracked their usage + dollar costs per month she would see the real problem is consumption which goes up and down with the seasons and they could plan accordingly. Even gasoline costs follow a very clear trend throughout the year.

And zero savings in their budget, not for emergency funds and none listed for retirement. If their huge debt doesn’t convince that woman to get a job, I don’t know what would.

]]> By: » Five Couples Living on $46k, Number 3: The Leones on Consumerism Commentary: A Personal Finance Blog http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-94216 » Five Couples Living on $46k, Number 3: The Leones on Consumerism Commentary: A Personal Finance Blog Mon, 23 Apr 2007 12:48:23 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-94216 [...] CNN Money’s series about five couples living on (about) $46k (couple one, couple two), the third couple, Andrew and Ozgul Leone from Fort Lauderdale, clock in at $54,400. [...] [...] CNN Money’s series about five couples living on (about) $46k (couple one, couple two), the third couple, Andrew and Ozgul Leone from Fort Lauderdale, clock in at $54,400. [...]

]]> By: dimes http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93870 dimes Sat, 21 Apr 2007 18:39:12 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93870 Ginger needs to get a job. $200 per month is disgraceful. Even I do better than that, and I'm a bum. She needs to be aiming for $200 per week. And like someone else said, they should cut their food expenses. Anything more than $350/month for two people is overkill. Each of them could afford to lose 20 pounds. Ginger needs to get a job. $200 per month is disgraceful. Even I do better than that, and I’m a bum. She needs to be aiming for $200 per week. And like someone else said, they should cut their food expenses. Anything more than $350/month for two people is overkill. Each of them could afford to lose 20 pounds.

]]> By: » Five Couples Living on $46k, Number 2: The Thibaults on Consumerism Commentary: A Personal Finance Blog http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93845 » Five Couples Living on $46k, Number 2: The Thibaults on Consumerism Commentary: A Personal Finance Blog Sat, 21 Apr 2007 12:52:21 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93845 [...] As Hazzard noted, 42% of their income spent on health care. To me, this seems high, even for a family with three children, but I have no personal experience. Perhaps this will stabilize as the children get a little older. Their medical issues are not entirely clear from their profile. [...] [...] As Hazzard noted, 42% of their income spent on health care. To me, this seems high, even for a family with three children, but I have no personal experience. Perhaps this will stabilize as the children get a little older. Their medical issues are not entirely clear from their profile. [...]

]]> By: Hazzard http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93637 Hazzard Fri, 20 Apr 2007 23:01:25 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93637 I agree with Lee. I read lots of tidbits about credit cards in that article. I get the sense that many of them are dealing with a house of cards. The healthcare percentage on one of the families was STAGGERING. 42%? UGH. They need to do some looking around to see if they can lower that cost at all. Maybe they can increase their deductibles etc. I agree with Lee. I read lots of tidbits about credit cards in that article. I get the sense that many of them are dealing with a house of cards. The healthcare percentage on one of the families was STAGGERING. 42%? UGH. They need to do some looking around to see if they can lower that cost at all. Maybe they can increase their deductibles etc.

]]> By: Fellowes http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93630 Fellowes Fri, 20 Apr 2007 20:51:24 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93630 Take it from me, if you wait until you think you can afford to have kids, you will never have kids. Having a child just involved scaling down your lifestyle a bit and truly figuring out what you need versus what you want. I found myself always in the "want" category and as such, find myself in a mountain of credit card debt that I working on retiring. It does seem like there couples are just getting by though. Adding a child to the mix could throw their financial world into chaos. Take it from me, if you wait until you think you can afford to have kids, you will never have kids. Having a child just involved scaling down your lifestyle a bit and truly figuring out what you need versus what you want. I found myself always in the “want” category and as such, find myself in a mountain of credit card debt that I working on retiring.

It does seem like there couples are just getting by though. Adding a child to the mix could throw their financial world into chaos.

]]> By: Lee http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93627 Lee Fri, 20 Apr 2007 18:41:22 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93627 I flipped through all 5 profiles and saw lots of credit card issues ... So they're mostly *not* living on $46K. But I agree, on couple #1, work more, eat less (or eat out less, or eat less pre-packaged crap) and be healthier and have more money. I do know a few couples, though, who starting working/earning the way they were going to when they had kids to make sure they could do it. I don't get that vibe here, but it's possible. I flipped through all 5 profiles and saw lots of credit card issues … So they’re mostly *not* living on $46K.

But I agree, on couple #1, work more, eat less (or eat out less, or eat less pre-packaged crap) and be healthier and have more money.

I do know a few couples, though, who starting working/earning the way they were going to when they had kids to make sure they could do it. I don’t get that vibe here, but it’s possible.

]]> By: Toby http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93614 Toby Fri, 20 Apr 2007 16:51:38 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93614 The budget pie chart on the second page is revealing. The slice for "Food" jumps right out at me. They spend 21% of their budget on food and only slightly more (26%) on their mortgage. Wow! Really?! Some rough calculations later, my guess is that they spend between $500-$600 a month on food (and that is basing the 21% on after-tax money). For two people? That's seems really, really high. Especially considering they live in a relatively low cost-of-living area. I think I know what they can cut... The budget pie chart on the second page is revealing. The slice for “Food” jumps right out at me. They spend 21% of their budget on food and only slightly more (26%) on their mortgage. Wow! Really?!

Some rough calculations later, my guess is that they spend between $500-$600 a month on food (and that is basing the 21% on after-tax money). For two people? That’s seems really, really high. Especially considering they live in a relatively low cost-of-living area.

I think I know what they can cut…

]]> By: KMull http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93610 KMull Fri, 20 Apr 2007 15:58:51 +0000 http://www.consumerismcommentary.com/2007/04/20/five-couples-living-on-46k-number-1-the-ogles/#comment-93610 I've got to ask -- why is she only working part time? They don't currently have kids and she stays at home. Uhh... get a job? I’ve got to ask — why is she only working part time? They don’t currently have kids and she stays at home. Uhh… get a job?

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