The New York Times breaks down the annual expenses of your average Fancy Pants Executive Type who lives in Manhattan.
Private school: $32,000 a year per student. Mortgage: $96,000 a year. Co-op maintenance fee: $96,000 a year. Nanny: $45,000 a year. We are already at $269,000, and we haven’t even gotten to taxes yet.
As relatively poor people, we think we can help. Here’s the Times-supplied expenses and our suggestions on where to cut costs.
|Private school (per student)||$32,000||public school + “Gossip Girl” discs via Netflix||$9 monthly subscription fee|
|Mortgage & Co-Op fees||$192,000||Just move already. To a house with no co-op fees.||$96,000|
|Nanny||$45,000||This 500K income is brought in by only one spouse, right? The other one doesn’t have a day job? Do you see where we’re going with this?||$0|
|Vacations (2: beach and skiing)||$16,000||Six Flags Great Adventure, Rockaway Beach in Queens, Coney Island, and assorted zoos, gardens, events, and museums in the city||$1500|
|Summer house||$240,000||Find a summer share on CraigsList, or rely on invitations from former Hamptons neighbors||$10,000|
|Chauffer||$100,000||Did you know anyone can drive a car? It’s true! All you need is a license.||$50 (NYC license fee)|
|Garage fees||$700||Park below 65th St
or, park on the street
or free, with occasional tickets
|Personal trainer||$12,000||Your memory. You paid attention during those earlier training sessions, right? If you still want some encouragement, consider a Wii Fit and/or re-runs of “The Biggest Loser.”||$0-80|
|Party gowns for galas (3 per year)||$35,000||You live in the same town as the Fashion Institute of Technology and Parsons. Find an ambitious student to nurture.||$3,000 plus an investment in potential future fashion insiderness|
|Tutoring||$3,750||“You’re not going to get through private school without tutoring a kid.” That’s not going to be a problem with public school, we assure you. You may still want a tutor though for supplemental education, so we suggest CraigsList||$0-$1500|
|Groceries||$15,000||Try the Grocery Game! Otherwise, we’re not going to mess with this one, other than to assume that you can probably shop smarter if you set yourself a lower budget—say, $200 a week instead of the $288 currently estimated||$10,400|
|Frozen hot chocolates at Serendipity||$8.50 each||You know what goes on at Serendipity, right?||$0|