Regardless of the study that shows Fairfield County, CT has the most wealthy residents, prices have skyrocketed here in the past two decades. So, if you live here and wonder why you don’t feel so darn wealthy, there’s a reason. And as I mentioned in a past post—it’s not always your fault!
It’s not your fault because prices for heating oil, electricity, property taxes, gasoline, groceries and cable — the basics — have doubled and tripled in two decades and salaries have not kept pace.
My husband and I were having one of those “good ol’ days” talks about money — when we seemed to have more discretionary income, but made less money. As a matter of fact, we easily bought our current house 20 years ago when we made a combined income of $72,000! We make more now, but we are stretched to the limit.
So don’t feel so alone if you are going crazy wondering where your money is going. Luckily, I know where it’s going cause I keep a budget so I know it’s not disappearing into thin air.
Here’s a little of what I mean. In 1993, we paid out monthly about $976 for basics like heating oil, electricity, property taxes, gasoline, groceries and cable. In 2013, we are paying out $1,891 a month for the same basics–or 50% more. The only reason we don’t pay MORE per month on these basics is because I judiciously use coupons and shop sales and we dropped our cable down to nearly bare minimum. And of course now, we have two teenagers and I work at home making what is considered a full-time salary, but much less than the full-time salary I made pre-kids and 10 to 20 years ago.
Here’s our personal approximate breakdown
In 2013, we pay 50% more in basics every month than we did in 1993.
This above list does not include other basics, insurances, tuitions, etc. that have gone up in 20 years.
We do love it in Fairfield for many reasons which I’ve written about before, but as far as where to “retire,” if there is such a thing for us baby boomers, Fairfield County may not be that place.
If I’m off on my numbers or estimations let me know!! Always appreciate your comments and input.