For most people, earning $350,000 per year would be considered an unattainable dream that would promise a life free of financial stress. But believe it or not, this article describes how one family of four finds it hard to manage. Here’s their budget breakdown.
It is true that housing costs in the major coastal cities like San Francisco, Los Angeles, New York, Boston and Washington, D.C. are very high. Good quality childcare is also very expensive. But the things that jumped out at me for this ‘struggling to make ends meet’ family was the $70 per day for food, the $400 per month for clothes, the $500 per month for entertainment, the $7,800 per year for three vacations (though they ‘sacrificed’ by spending one week of vacation at home), and the fact that they think owning a Toyota Highlander instead of a Range Rover is being frugal.