The median income in the US has been reported to be $46,242.00. Money.com has profiled four different families and how they live on the $46,242 per year.
Let's take a look at what Money says and then what MJL has to say.
Family 1: The Ogle's
Matt is a math teacher and Ginger is a speech coach. Ginger makes $200 / month.
The article reads:
But there are some expenses the Ogles can't forecast: a sudden rise in energy prices, like last summer, was unforseen. "It's hard to factor in gas prices. Every month the natural gas and electric bills are higher. And that makes it harder when you try to plan," Ginger says. The Ogles manage fairly well on their household income but they are having trouble getting ahead. "It's very difficult to save," said Ginger. "I keep a mortgage payment in the bank...If there are big expenses that aren't expected we use the credit card." "I don't stay awake at night worrying about money...unless something horrible happens, we know we're going to make it."
Matt is a math teacher and appears to have a solid job, but his wife is bringing home $20o per month. They have no kids, so until there are little Matts or Gingers, Ginger needs to be stepping up her game and bringing home more then $200 per month.
If Ginger got off her lazy ass, and got a job, then they would have no financial troubles. The other alternative is if Ginger went to school and got a profession, instead of a job. Then she could make decent money and possibly double their income.
The Ogle's aren't getting ahead because they don't want to get ahead. Period! I don't see any retirement savings, or regular savings for that matter, in their pie chart. Unacceptable.
NEXT FAMILY......The Thibaults.....