Author Topic: Kollel Budgeting  (Read 48752 times)

Offline @Yehuda

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Re: Kollel Budgeting
« Reply #40 on: October 29, 2014, 04:47:20 PM »
I just ran a budget from a template Excel file, and I have about $100 a month to use for spending. :-( Life's expensive. No idea what life will be like once kids come along.

Offline Mordyk

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Re: Kollel Budgeting
« Reply #41 on: October 29, 2014, 05:00:33 PM »
I just ran a budget from a template Excel file, and I have about $100 a month to use for spending. :-( Life's expensive. No idea what life will be like once kids come along.

+10000    get more expensive then you think!!  add a line to the budget for diapers. this takes it to a another level!
#TYH

Offline Name Changed

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Re: Kollel Budgeting
« Reply #42 on: October 29, 2014, 05:05:09 PM »
I just ran a budget from a template Excel file, and I have about $100 a month to use for spending. :-( Life's expensive. No idea what life will be like once kids come along.
The one above takes care of everyone.


Offline incendia

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Re: Kollel Budgeting
« Reply #43 on: October 29, 2014, 05:05:50 PM »
Taxes,

if you are gong to be selfemployed you have to pay your own taxes

Offline Super Speed

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Re: Kollel Budgeting
« Reply #44 on: October 29, 2014, 05:21:45 PM »
The one above takes care of everyone.
+infinity

Offline @Yehuda

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Re: Kollel Budgeting
« Reply #45 on: October 29, 2014, 06:07:42 PM »
The one above takes care of everyone.
Amen

Offline TimT

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Re: Kollel Budgeting
« Reply #46 on: October 29, 2014, 06:35:08 PM »
I just ran a budget from a template Excel file, and I have about $100 a month to use for spending. :-( Life's expensive. No idea what life will be like once kids come along.
Make sure to get a raise here & there.

Offline churnbabychurn

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Re: Kollel Budgeting
« Reply #47 on: October 29, 2014, 07:20:20 PM »
You know, tell the folks if they want to see the grandkids they must deposit X dollars in bank account number xxxxxxxxxx by midnight tonight or else. You don't do this?
+1

Offline @Yehuda

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Re: Kollel Budgeting
« Reply #48 on: October 29, 2014, 07:25:04 PM »
Make sure to get a raise here & there.
;)

Offline CS1

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Re: Kollel Budgeting
« Reply #49 on: October 29, 2014, 07:32:30 PM »
You drink 2 bottles of OJ in one day?   
Also, he forgot to include chocolate chips in his budget

ha...  <verrrrry funny>   8)

The OJ and cereal shopping trip would be a normal one-day grocery store visit that is intended to last a week, but those 4 items would eat up the budget for the entire day.
The only way that I can see a $20 food budget per day for 2 adults working ($120 per week for groceries is what he wrote)
is if they eat breakfast and most lunches out and Shabbosim out, and that budget goes mainly towards daily dinner and drinks/snacks in the house...
California Gourmet Belgian Nut-Free Chocolate Chips https://bit.ly/CaliforniaGourmetDirect

Offline good sam

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Re: Kollel Budgeting
« Reply #50 on: October 29, 2014, 07:33:49 PM »
I'm going to get slammed for saying this-

I wouldn't worry too much about maa'ser right now. I've been told by many people that it's only imperative that you give ma'aser on whatever is left over after all your expenses. Doesn't seem like you'll have that much considering you need to budget.
I received this psak from a reputable posek. Not only for kollel.
If you don't care why would you comment?
HT: DMYD

Offline good sam

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Re: Kollel Budgeting
« Reply #51 on: October 29, 2014, 07:35:32 PM »
I just ran a budget from a template Excel file, and I have about $100 a month to use for spending. :-( Life's expensive. No idea what life will be like once kids come along.
Take it from me... G-d does not give you children without also giving you a way to support them.
If you don't care why would you comment?
HT: DMYD

Offline avrumy22

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Re: Kollel Budgeting
« Reply #52 on: October 29, 2014, 07:52:08 PM »
Food for thought.

A newly married guy making starting salary of 2500/m (30k/y). Plus his wife makes about 1500/m. Total is 4k.

Has to pay for health insurance and cannot receive any programs etc.

Someone in kollel with a combined income of 2600 (I am assuming at least half is off the books.) will receive a whole slew of benefits and stuff.

Who is better off?

(I am NOT implying that the OP takes gov benefits. I am merely asking hypothetically.

Offline lunatic

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Re: Kollel Budgeting
« Reply #53 on: October 29, 2014, 07:55:51 PM »
Food for thought.

A newly married guy making starting salary of 2500/m (30k/y). Plus his wife makes about 1500/m. Total is 4k.

Has to pay for health insurance and cannot receive any programs etc.

Someone in kollel with a combined income of 2600 (I am assuming at least half is off the books.) will receive a whole slew of benefits and stuff.

Who is better off?

(I am NOT implying that the OP takes gov benefits. I am merely asking hypothetically.
Kollel

Offline CS1

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Re: Kollel Budgeting
« Reply #54 on: October 29, 2014, 07:56:22 PM »
Food for thought.
A newly married guy making starting salary of 2500/m (30k/y). Plus his wife makes about 1500/m. Total is 4k.
Has to pay for health insurance and cannot receive any programs etc.
Someone in kollel with a combined income of 2600 (I am assuming at least half is off the books.) will receive a whole slew of benefits and stuff.
Who is better off?
(I am NOT implying that the OP takes gov benefits. I am merely asking hypothetically.

the difference between earning $4K and earning $2600 is $1400. Health insurance alone is ($120/mo) $1440/year
Plus at least $150-200 per week for food... 
California Gourmet Belgian Nut-Free Chocolate Chips https://bit.ly/CaliforniaGourmetDirect

Offline sky121

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Re: Kollel Budgeting
« Reply #55 on: October 29, 2014, 07:56:47 PM »
Take it from me... G-d does not give you children without also giving you a way to support them.

And fortunately for him he is smart enough to see that life is expensive and can take necessary actions to help improve his financial situation. :)
Baruch Hashem!
"Not all who wander are lost"

Offline @Yehuda

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Re: Kollel Budgeting
« Reply #56 on: October 29, 2014, 08:04:44 PM »
Take it from me... G-d does not give you children without also giving you a way to support them.
Thanks :)

Offline Yaalili

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Re: Kollel Budgeting
« Reply #57 on: October 29, 2014, 08:05:59 PM »
the difference between earning $4K and earning $2600 is $1400. Health insurance alone is ($120/mo) $1440/year
Plus at least $150-200 per week for food... 

Per week for food stamps? Thought per month was under $200.

Offline CS1

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Re: Kollel Budgeting
« Reply #58 on: October 29, 2014, 08:07:30 PM »
Per week for food stamps? Thought per month was under $200.

was writing actual cost of health insurance is approx $1400 and cost of food is approx $150 - 200... depending...
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Offline Twin

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Re: Kollel Budgeting
« Reply #59 on: October 29, 2014, 08:18:51 PM »
Food for thought.

A newly married guy making starting salary of 2500/m (30k/y). Plus his wife makes about 1500/m. Total is 4k.

Has to pay for health insurance and cannot receive any programs etc.

Someone in kollel with a combined income of 2600 (I am assuming at least half is off the books.) will receive a whole slew of benefits and stuff.

Who is better off?

(I am NOT implying that the OP takes gov benefits. I am merely asking hypothetically.
Key word is starting salary in the begingig the kollel guy has it better off but the working guy doesn't plan on making 30k a year for life.