A family of four can easily be raised on $50,000 a year. One simply has to live at the standard that families lived in the 1960s. Cable TVs, multiple cell phones, multiple computers, several cars, and large houses are expensive. It’s all about choices.
One thing to keep in mind, though, with the devaluing of the currency,
a minimum wage earner in the 50’s had the same buying power
as a degreed professional today.
Exactly. My wife home schools and actively manages the household. In 2011, I made around $54,000 for five people. My children lacked for nothing and some how we managed to spend two weeks in Daytona and three days at Disney without going into to debt.
Everything is about priorities and proper management.