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If You Were Unemployed, But Had A Hefty Savings Of 10K, In What Ways Would You Approach Your Job Search Differently? (lemdit.com)
submitted 3 years ago by to c/asklemmy@lemmy.world
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The point is not to chill and just burn through the savings and not work. How would having that much money saved, change the way you look for jobs?

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[–] -1 points 3 years ago (9 children)

It would get me through less than one month

Less than 10k savings would mean I’d be basically on the streets if I lose my job

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  • [–] 4 points 3 years ago (8 children)

    People downvoting have never lived a different country, or city, than where they were raised ... seriously, cost of living varies wildly. 10k/month in expenses with a family, house (mortgage, insurance, maintenance, etc), cars (gas, maintenance, insurance, etc) travel / vacations, you name it, is not unreasonable.

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  • [–] 1 point 3 years ago (7 children)

    Hopefully with kids in private school you’d have more savings than that, but that’s an easy $15-50k/yr per kid.

    I wouldn’t be surprised if the monthly cash burn for a truly middle class family was $5k.

    The rule of thumb is 6 months of expenses.

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  • [–] 2 points 3 years ago* (6 children)

    Average car payment right now: $725/mo

    Average price of a 4 bedroom, 2 bathroom home in the US: $416,000

    Average interest rate for home equity loan right now: ~9%

    Average mortgage assuming 10% downpayment And above: $2700/mo

    Moderate grocery budget for 5 people: $1500/mo

    Average Utilities: $330/mo

    Average cost for private school: $16k

    For 3 kids, monthly: $4k/mo.

    For good measure, well add a slush fund of $2k a month to cover property taxes ($350/mo), gas/auto repairs, house repairs/non food related purchases, kids hobbies/electives/clothes

    If we want to talk vacation, it's gonna be an additional $1k-2k saved a month.

    If you're saving for college lol, add $1750/mo for 20 years to cover 3 kids at avg priced 4 year institutions.

    Where are we?

    $14,555/mo.

    To sustain that, you need to be pulling down over $350k/yr as a household.

    Average.

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  • [–] -1 points 3 years ago* (last edited 3 years ago) (5 children)

    Lmao I love how when you write it out like this it makes so much so very clear about the people on this site.

    That's such an absurd level of casual wealth that the amount of leftists on here with no idea how the average person lives makes a lot of sense

    If we want to talk vacation, it’s gonna be an additional $1k-2k saved a month.

    Moderate grocery budget for 5 people: $1500/mo

    For good measure, well add a slush fund of $2k a month

    Fucking lol

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  • [–] 0 points 3 years ago* (last edited 3 years ago) (4 children)

    That's less than $70 per person per week, which is far less than the average spend.

    You can troll around and argue against what I said all you want, they're based on averages. Actual averages.

    No one cares about your opinions.

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  • [–] -1 points 3 years ago (3 children)

    You should learn the very significant difference between a median and an average if you think the average American does any of these things.

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