ian-mstm

Generally speaking, take home income in the US is usually closer to 65% of your salary - not the 83% which you've written. You will likely take home $3250... and not $4150. Whatever else you do, be sure that you don't overestimate your actual take home pay!

Ian

beatusrhenanus

Thank you for your continuing input, everyone. It is very helpful. This has confirmed what I thought - $60k, although well above median wage, is still a tight amount for two to live off; we'll need to be careful about our expenditure, and there will be lots of extra expenses that we haven't foreseen.

We have budgeted for all the start-up costs mentioned by Twinkle0927 from our savings and set those aside, separately from the rest of our savings which we are moving over in chunks. I'm more worried about recurring expenses, as I want to know what our average expenditure will be once "normal life" sets in following the initial moving/setting up period.

I think our overall health care costs may be a little below those suggested in the thread Pulaski linked, because the insurer seems to provide better coverage than most - it's the Florida state employees benefits plan (I'm working in education). Like I mentioned earlier, the whole-family deductible is $500, and the ceiling for mail-order prescription copayments is $90. That might be cancelled out by the fact that we'll be paying for lots of medication and checkups, though - perhaps including some that are excluded from the copayment upper limit.

Yes, the apartment is expensive, so we might be able to move somewhere cheaper in the future. The higher price reflects good amenities, and - crucially - a short (2-mile) commute to place of work. At least in the winter and spring months, I should be able to do that on foot or by bike - saving on gas and vehicle wear-and-tear.

Obviously, long-term we hope this situation will get easier. As mentioned above, a few years down the line I should be eligible for promotions, and assuming we are able to stay and get green cards, I hope that in a decade from now I'll be earning in the $70k-80k range. On the other hand, by then we might have a mortgage (and therefore additional homeowner's expenses and higher utility bills) and a larger family... Equally, if the green card trajectory works out, my other half should be able to get a job. Even if it's quite low-paying - say, the 20-30k range - that would put our family income much nearer to a more comfortable $100k mark. So let's hope we can manage being frugal until then!

beatusrhenanus

Thanks for pointing this out - is that because of health insurance premiums and retirement deductions? I have factored those into monthly expenses. Or are there other taxes I'm not aware of? I used an income tax calculator, married filing jointly in Florida for $60k, and it told me there would be about $10k in payroll taxes (works out at a little under 850 per month).

mrken30

It appears that you are not on a high deductible health plan so you won't have access to saving in an HSA. However you may want to consider looking into funding an FSA account for your healthcare costs.

ivanidea

From what I've seen, Florida seems to be a low pay state.

I've only been in the country 4 weeks, so I'm getting detailed expenditure from the wife, so we can make a budget.

My wife is a good cook, and buys quality (preferably local) ingredients, not the cheapest, and it looks like we spent $600, including food for the dog.

Gas will depend on how far and often you drive.

Our unlimited plan on T-Mobile for 2 phones is costing $131 per month. There are cheaper plans if you don't use too much data.

Utilities will depend on the size of the property, and usage too (I'm still collecting our data for that).

Medical insurance costs seem to differ, depending on the company you work for. I was added to my wife's policy for approx $100 per week. This is a similar rate to the company I've been offered a job with, if I wanted to add the wife to my company policy.

mrken30

It depends more on if you don't mind buying your own phone. There are many cheaper plans out there. H2O is $25 a month with 3 GB LTE data(unlimited 2G). You can buy the cards at Best Buy. If you want a cheaper plan go to the cell phone stores for immigrant workers.

Pulaski

I suspect that your figures are closer to correct than Ian's because your pay is relatively low and taxes rise quite quickly as income increases from $50k to $100k, and because you are married and can file jointly. But if your pay rises to $100k then Ian's 65% take home rule of thumb is going to be correct.

Jerseygirl

I typed out a list earlier but don't want to be a Debbie Downer so I haven't posted it. I will say that whatever you think it's going to cost...it will cost a fair bit more IMO. Life in the US has lots of hidden extras costs...especially where healthcare is concerned. For example my husband went to the ER...just as we were about to leave the doctor asked if he could introduce us to his attending. BINGO...Cha Ching...the attending wasn't in network so we were billed for saying hello to him.

Have you allowed for emergency trips back to the UK? A sudden illness or death has caused many of us to return immediately. Flights at short notice cost an arm and a leg...then some.

Twinkle0927

But $70k in a decade will be the same as $60k now. Or worse if there is a child or two in the mix also. Even $100k (which is roughly our *current* combined income for 2 with no children with a considerably lower rent and utility cost than you) will be a struggle for a family in 10 years' time.

I don't see much room in the budget for travel. What if you need to go back to the U.K. for a family emergency? Or how about just to visit for Christmas? Or go on a holiday elsewhere? I couldn't stay in one place all the time. I know you say that you are just "Netflix and books" types but when you live here it's completely different. Especially in a warmer climate where you will want to be outside a lot more. Walking and cycling are pretty much free (apart from buying a bike and some trainers) but there is much more of an outdoor lifestyle here. I am certain your social life/leisure time will be more than Netflix and books when you're here. Especially with your husband at home all day. Tennis clubs, golf clubs, national parks, swimming, camping, outdoor events and concerts, being invited to barbecues (can't go empty-handed) - it's what we do here. You'll want to use the opportunity to see more than just what's walking or cycling distance from your home. A road trip, for example.

Pulaski

Nonsense! That's all a lifestyle choice, it might be what you do here, but Americans pretty much invented the concept of the couch potato. I am outside close to 52 week(ends) a year where I live, but if I lived in Florida I'd be spending a lot more time inside.

mrken30

Some airlines used to give you a discount if the trip is for a bereavement. Last time I flew at short notice (5 years ago, United) it was not too expensive. However 10 years ago, it cost arm and a leg to get a short notice BA flight.

I would think Florida may have access to cheap flights to the UK??? But again worth checking.

mrken30

I would strongly agree with this statement and I live in the PNW where every new baby comes with a backpack.

petitefrancaise

wimps!

Taking a bike to work for a couple of miles is a great idea. It will save you loads of money and probably time too, since you won't get stuck in traffic jams.

Living within cycling distance of work is definitely the way to go, here is a great article on that. If he can do it in Houston heat/humidity and traffic then you most definitely can in Florida. Houston Attorney Thrives on Doing The Impossible – Daily

My daughter and I were out cycling this morning at 8.30am for about an hour. It was 85F and pleasant, if I'm not mistaken this is what you get in Florida??? It will go up to near 100F for the afternoon so we get out early in the morning. I row at 6.30 am 3/4 mornings a week. I also row in the evenings 2x a week when it's about 95F,it's ok.

One of our regular contributors, Kodokan, sent me a spreadsheet a while ago that she uses for household expenses. I'll try and find it if you like?

mrken30

You may even be able to stay car-less for a while depending if you have options like zipcar and lyft.

Ecto17

I can't give you much help as l am a newbie and only been Stateside for less then 4 weeks but having been in your position recently l personally think you have done a really good job of looking into this and that approach will stand you in good stead. We are up in NJ and l am honestly constantly shocked by the prices out here and we have stumbled across a few unexpected expenses so make sure you have a contingency, which l am sure you will. The reason for chipping in is with regards to the shopping, avoid publix (lovely but expensive) however Aldi, Walmart, Trader Joes and Costco are all good options. The monthly deals in Costco are always really varied but so far the ones we have picked up have been great. Also when you arrive think about the dollar stores for some of your basics. Wishing you lots of luck.