Do you make $400,000 a year but feel broke?

The wsj video says $575 a week on groceries. What they heck are they eating?

And the $25k for vacations, but only putting $10k away in 529's is amusing.

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09/14/2014 06:04

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

30k on groceries a year? How the heck do you eat that much? They must mean that's the food budget, which includes restuarants, right?

And 9k on car insurance? Ours is 1.5k. My parents have their cars + all my other siblings cars on their insurance, and theirs is 5k/year. So how many cars do you need to own to have 9k worth in insurance?

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09/14/2014 08:20

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

Anonymous wrote:The wsj video says $575 a week on groceries. What they heck are they eating?

And the $25k for vacations, but only putting $10k away in 529's is amusing.

Well it's the $9k auto insurance that's just ridiculous. Our two bmws are $1400 a year.

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09/14/2014 08:50

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

10k for two kids' 529s is nowhere near enough. Otoh, 10k/year for their sports/activities seems crazy.

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09/14/2014 08:51

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

Anonymous wrote:30k on groceries a year? How the heck do you eat that much? They must mean that's the food budget, which includes restuarants, right?

And 9k on car insurance? Ours is 1.5k. My parents have their cars + all my other siblings cars on their insurance, and theirs is 5k/year. So how many cars do you need to own to have 9k worth in insurance?

Probably does include eating out.

Maybe the insurance bit includes homeowners too? I don't think they mentioned that separately.

This family needs to save more.

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09/14/2014 08:58

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

I didn't watch the whole video so I assume the narrator said this at one point. But what they need to do is prioritize savings. Pay yourself first. Set up automatic deductions. Then take care of fixed expenses: mortgage, utilities, etc. What is left over determines discretionary spending. Fairly straight forward. I don't know why so many people struggle with it. It just requires a certain amount of self discipline.

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09/14/2014 09:05

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

Anonymous wrote:10k for two kids' 529s is nowhere near enough. Otoh, 10k/year for their sports/activities seems crazy.

Travel tams are a minimum of $2000 /yr. plus equipment, camps, and travel. If they do 2 travel sports ... The figure is low. If they do hockey double it.

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09/14/2014 09:08

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

Maybe if you lived in Idaho it's rich

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09/14/2014 09:21

Subject: Do you make $400,000 a year but feel broke?

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Anonymous

Anonymous wrote:

Anonymous wrote:10k for two kids' 529s is nowhere near enough. Otoh, 10k/year for their sports/activities seems crazy.

Travel tams are a minimum of $2000 /yr. plus equipment, camps, and travel. If they do 2 travel sports ... The figure is low. If they do hockey double it.

20k for hockey? How the hell did palin sell being a hockey mom as being working class then? Soccer only really needs a ball and shin guards.

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