<p>I put in some numbers for my region. 17 y/o, midwest, under 60k (or whatever the number was) income and got ~12k/year. How on EARTH do people in that income bracket spend an average of $938 on clothing costs with a 17 years old?</p>
<p>The housing costs, food and clothing costs seem way to high, imo. Really, does anyone spend $4200 to feed one child a year? I don’t spend that much to feed my family of three. And my mortgage is only $2000 more then what is calculated for one child. Never spent close to $1900 a year on clothing for my kid, either. </p>
<p>That being said, sending my kid to summer camp and private high school cost us $160K.</p>
<p>I agree, pay off some debt. We’ll have spent 1 million on school costs alone by the time our youngest graduates college. That fact always astounds me. And yes, they are worth it, as what else would you want to do with your money? I mean, who wants to travel, retire early, pay off their mortgage or get a nice boat?</p>
<p>I’d give it away. I am debt free. Have 4 years left on my $296/month mortgage. No college bills. Retired early, and wife keeps me in a style to which I am accustomed. Have health insurance. I travel the world, and stay virtually free wherever I go.</p>
<p>I was actually pondering on the way into work this morning what I would do if I had an extra $100,000. I have an older sister who has mental health problems, hasn’t had health insurance her entire adult life, lives in poverty, sponging off my mom when she can. With $100,000 I could buy her a small house or condo and a good used vehicle and pay her health insurance premiums.</p>
<p>I’d invest it and breathe fully and deeply.</p>
<p>I believe I would skip more lightly through the remaining college years with the knowledge of that cushion. (Sometimes it feels as though life with three teens/young adults is a neverending series of requests - mostly legitimate - for money. I would enjoy the feeling of meeting those requests with more joy and less teeth grinding.). ;)</p>
<p>I know it is none of my business, but how do you manage to spend less than $80 dollars a week to feed the family of three?</p>
<p>As far as original questions goes: The first answer that popped into my mind was that I would have another kid, but inparent beat me to it. So the real answer: I would invest it.</p>
<p>I don’t buy purses, or shoes, or expensive clothes (to the point that DH sometimes has to ask me very nicely to PLEASE go buy some new clothes :o). I spend my money on great food, which is rather costly. The way I buy food, $80 wouldn’t go very far.</p>
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<p>Sigh. There’s one in every crowd. :rolleyes: </p>
<p>Just kidding; that’s very altruistic of you.</p>
<p>I’d give some of it away. But if half a million dropped out of the sky, I’d sure stash some of it away for a rainy day.</p>