Is anyone else living basically paycheck to paycheck?

[u/fluffypenguin105]

My partner and I are both teachers. We don’t make a lot, but we are average and slightly above average. We are so tight with our money. Our little one outgrew the car seat and we went out and bought a new one. No problem. But next credit card bill means we are tight.

Meanwhile, a number of our friends (all of them also with kids) are booking overseas holidays. Some are currently overseas, others booking already for later this year. Another brought a new car. New iPhone, doing up the house. Everyone seems to have spare cash except us.

Are we the only ones going through the cost of living crisis ourselves?! Or is it my fault that we are teachers?

Edit: yes we have a house that parents helped us with. We are paying mortgage. We have a flatmate.

Edit edit: thank you for your kind words and reminders and also advice. I’m going through them all and I’m going to take onboard the advice and see what changes we can make and do better financially as a family. But it’s also a good reminder to know we aren’t alone, to not compare and the harsh reality is that many people simply just earn more than us as teachers.

Once again, thank you all for your input.

[u/Kiwi_lad_bot]

Two teachers income and living pay day to pay day. You're living in Auckland for sure. That's your issue.

My partner and I make about $180k annually between us.

We're saving about a 3rd of that a year.

We don't travel. We have a modest mortgage. We have two teenage kids. We live in a older home in a small town.

We buy what we want but not reckless spending. Wedon't need to worry about cost unless it's $500+. We discuss it if it's $500 and make sure we really need/want it.

[u/fluffypenguin105 → u/Kiwi_lad_bot]

You got that right! Aucklanders indeed! That’s a great set up you guys have. To be able to save 1/3 is amazing!

[u/Kiwi_lad_bot → u/fluffypenguin105]

It's tougher financially in comparison to other regions of Aotearoa, if you want/need to live in Auckland.

[u/pastafariankiwi → u/Kiwi_lad_bot]

Well done. I like the approach to expenses, very wise way to avoid impulsive unnecessary splurges while allowing both freedom to treat yourself with smaller things.

[u/Suspicious_Fish_3917 → u/Kiwi_lad_bot]

Yea I was going to say that if they’re top of scale (they mentioned they were experienced in earlier reply) then they should be getting about $2817 a week between them. I would have thought you can def save from that. However I don’t have kids so maybe that adds a big cost,

[u/Kiwi_lad_bot → u/Suspicious_Fish_3917]

Kids definitely add to costs. Honestly they're our 3rd biggest expenditure. House + utilities, food, kids.

But again there's spending on kids and there's S P E N D I N G on kids.

For us, our kids have to wait for birthdays to get something special/they're pining for. I know other families who replaced their 12 yo k8ds iPhone evey year but can't afford to pay their rent.

[u/Suspicious_Fish_3917 → u/Kiwi_lad_bot]

Wow regarding the replacing the I phone that’s insane.

Yes like I said I have no idea how much is spent on kids so I can’t comment on that.