Family budget if your HHI is around 375k

[Anonymous]

Anonymous wrote:Aah that explains the panties in a wad. I don't get the big deal, news flash: there are people richer than you. I make $275k, its fine, its enough, there will always be people who make more and people who make less. It's just life. The guy who makes $50k is going to seem rich to the guy making $20k - just as the guy making $100k seems rich to the guy making $50k.

What a bunch of pansy asses on that site. They need to grow a pair and accept that life isn't always fair, the best man doesn't always win, and sometimes people get lucky and others don't.

I've seen that site before. Echo chambers to rival all echo chambers. That they would come over making threats and acting nasty is par for the course.

[Anonymous]

Anonymous wrote:Also, all these people making 375K and unable to keep a budget, or blaming childcare and housing costs.. Do you think you are the only income that needs to do this?people making a quarter of what you (we) make have to pay for childcare and housing, and yet can still keep a budget.

I know We did when we made significantly less.

What's the point of this? Exactly how is what you said going to relieve them of what they're facing?

A little sympathy would be nice. Not everybody faces the same obstacles in life and we all handle things differently. At least these people are seeking advice and not ignoring the problem exists at all. Saying "You think you had it rough..." isn't the solution.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Also, all these people making 375K and unable to keep a budget, or blaming childcare and housing costs.. Do you think you are the only income that needs to do this?people making a quarter of what you (we) make have to pay for childcare and housing, and yet can still keep a budget.

I know We did when we made significantly less.

What's the point of this? Exactly how is what you said going to relieve them of what they're facing?

A little sympathy would be nice. Not everybody faces the same obstacles in life and we all handle things differently. At least these people are seeking advice and not ignoring the problem exists at all. Saying "You think you had it rough..." isn't the solution.

You are seriously advocating people have sympathy for people making oodles of money who don't know how to manage it? You can't be real. That's not sympathy inducing; it's ridicule worthy.

I didn't even say people had it rougher, though they do. What I said is people make it work on way less, including less whining.

I think it is time you made our way to the "we were so poor" thread.

Wow.

[Anonymous]

And to add, What exactly are they facing? Not being ale to vacation at Aspen this year? All wants and some needs are being covered, but the major problem is the " there's just not a ton left over at the end of the month after I'm done spending it" syndrome.

Not very sympathetic

[Anonymous]

Anonymous wrote:You are seriously advocating people have sympathy for people making oodles of money who don't know how to manage it? You can't be real. That's not sympathy inducing; it's ridicule worthy.

I didn't even say people had it rougher, though they do. What I said is people make it work on way less, including less whining.

I think it is time you made our way to the "we were so poor" thread.

Wow.

And to add, What exactly are they facing? Not being ale to vacation at Aspen this year? All wants and some needs are being covered, but the major problem is the " there's just not a ton left over at the end of the month after I'm done spending it" syndrome.

Not very sympathetic

Yes, I am. Why is that ridicule worthy? Does it make you feel better about yourself? Boost your ego?

I worked in mortgages for almost 30 years. I met with people making $50K who knew how to budget and I met with people who make $500K who barely made it from month to month. Because they're having issues now doesn't mean they can't learn to make things better for themselves. "There but for the grace of G-d go I..." and all that. But you've got to care enough about people to give them a chance. Either you care about people or you don't and ridiculing them may make you feel better, but that's all it does. Saying the things you're saying accomplishes nothing. Nothing.

[Anonymous]

Sorry, still not buying that being unable to budget is a sympathetic characteristic, esp at that income.

It's crass to complain that after you pay for everything, you're still sad you can't jet off to Monaco or buy a small island

And at any rate, so far in this thread I've seen very little evidence that people don't know how to budget. They're just mad thy don't have EVEN more to spend at the end of the month.

Mind boggling.

[Anonymous]

I really don't see how someone has this much issues making ends meet with this much money.

I know people who have made ends meet, abit just barely, with only 20k.

I'll share with you some of the secrets of how to live on small amounts of money - While you have a lot of money, I'm sure that most of these can still apply.

1. Don't buy name brand clothing. If you want name brand, then get it at a secondhand store - The clothes are in great condition, and at a fraction of the cost. You could save more money by buying most of your clothes at secondhand shops - All that has to be bought new is undergarments and socks - Realistically, everything else can be bought secondhand.

2. Don't have cars that are more then you require. If your just driving to and from work then you've no need for a fully sized SUV. A regular, basic, car will suffice just fine. Additionally, if you have children who are about to be of driving age, don't buy them new cars - Get a used car instead. While a used car will have some forms of damage, a lot of it is either easily fixed by a mechanic or isn't important enough to bother fixing.

3. Don't spent exorbitant amounts on sending your kids to camp. If it costs more then $500 a kid, look somewhere else.

4. Generic generic generic. When shopping, get generic - storebrand - items instead of the name brand. A lot of the items are exactly the same either way - Your just paying for a name a lot of the times.

You many say that these ideas are crap, because your wealthy and want to be able to use that wealth... But are you really wealthy if you have this much trouble making ends meet? If you have any complaints, at all, over how much money you have left over at the end of the month then it's a sign that you need to cut back somehow.

[Anonymous]

Anonymous wrote:Sorry, still not buying that being unable to budget is a sympathetic characteristic, esp at that income.

In general I understand. But to me it's no different than someone who makes $20K/yr commenting how someone making $50K/yr could end up in financial straits. Tell ya what $20K person, you start making $50K and get back with me. Maybe you'll do just fine, but maybe you won't.

[Anonymous]

I can see, somewhat, what the issues are.

Symbols - At this high of income, they - sometimes unintentionally - compete with each other. Basically they try to see who can get more status symbols then the other.

I make 200k a year and have plenty leftover each month. Then again, this is because I don't live in a big house or drive a new car - Both of these are symbols of wealth, and I leave symbols to the symbol (simple) minded.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sorry, still not buying that being unable to budget is a sympathetic characteristic, esp at that income.

In general I understand. But to me it's no different than someone who makes $20K/yr commenting how someone making $50K/yr could end up in financial straits. Tell ya what $20K person, you start making $50K and get back with me. Maybe you'll do just fine, but maybe you won't.

It's not the same at all, because there is a certain income where the only financial straits that occur are pure horrid luck ( medical bills) or just plain stupidity. After a certain income, you should be just freaking fine. I'm not sure what that number is exactly, but I can tell you 50k is not it, but 375K definitely is.

My HHi is 275K. Any financial problems I currently have are of my own doing and you won't see me here bitching and complaining that I don't have enough waaaahh. It's clueless and insensitive.

[Anonymous]

Anonymous wrote:It's not the same at all, because there is a certain income where the only financial straits that occur are pure horrid luck ( medical bills) or just plain stupidity. After a certain income, you should be just freaking fine.

I disagree. It is the same, just on a different level. I've met with people who did fine when their income was lower that couldn't manage when they started making much more. Now you can call it stupidity or living beyond their means or whatever you like, but it's real, it happens, and they needed sound advice. That's where I came in to help. Telling them there's a certain income beyond which they shouldn't have any major issues wasn't, still isn't, and never will be a solution. I'm for solutions, not aggravating the issue.

[Anonymous]

I think you wasted your money on school you should have taken a coarse in common sense.

[Anonymous]

Hi, Looking over your monthly budget none of your expenses are exuberant for DC. Except maybe since your kids are that young you probably don't need tutors, but you know best for them. If you try really hard with you might be able to shave a couple hundred here or there but the effort will be enormous and the payoff would be small.

Your best bet is using your time/effort looking for other ways to increase your income.

And for people complaining, a $500000 income in DC is not that much since expenses are so high here. For example the $2500 the OP has left over will pay for just 4 or 5 nice dinners out for the entire month when you include a sitter and a cab.

[Anonymous]

Anonymous wrote:I think you wasted your money on school you should have taken a coarse in common sense.

You clearly didn't waste any money on school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yeah. That may be so, but I can almost gaurantee its not halfway decent.

That's the point! A $350K house in certain parts of DC isn't "decent" so they have to live elsewhere. OK, you get it? What good is making a million dollars a year if gas prices are $10,000 a gallon? It's all relative.

No one said you had to live IN DC. There are plenty of people who work IN DC who live in homes that cost 350k or less. It is all about choices.

If you CHOOSE to spend the majority of your money on housing, then don't act surprise when the money is gone. You spent it! That was your choice.

For most, money is not an unlimited resource. So choose how you spend it, but stop whining about it.

-Not pp

Pretty much. I have tons of friends with multiple kids and 5-figure salaries in the area who live in Bethesda, Rockville, Arlington, Falls Church and the list goes on. If you choose to live within the district, you know you pay more for less, get whored on your taxes, etc. It comes with the territory and we all know that. It has nothing to do with making enough. It has everything to do with figuring out the difference between what you need and what you want. But if $375K isn't enough, don't blame someone else because most of us live quite happily on half that. If you are having a hard time making those ends meet, you're doing something wrong, even in the DC area.

This post right here nails it. Here are some other suburbs of the DC area that aren't as expensive: Sterling, Leesburg, Fairfax, Reston, Purcellville, the list goes on and on. You are making $375K per year, which puts you into the class of making way more money than most people in this country, and your bad decisions to live a lavish lifestyle are what's bringing you down.