I truly cannot wrap my head around our HHI jump from $150k to $260k

[Anonymous]

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Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is a you problem honey. Yes, most people take vacations. Even people making little money.

You clearly grew up in a big city near the coast. I did not. I grew up where average people live. Almost NO ONE took a weeklong vacation. Even my grandparents...and my grandpa was a doctor...only did it once every few years.

I grew up in rural Minnesota. We went to the Wisconsin dells. You have no idea what you're talking about.

I grew up in rural New York and nobody took annual weeklong vacations out of state. My grandparents never did that growing up my parents never did that growing up none of my friends parents did that growing up and my friends didn’t do that growing up. Every three years or so you would hear about somebody going to Florida for a week and that was about it. There were no weeklong annual vacations for the masses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you truly don't want to fall victim to lifestyle creep, take that extra 100000 and bank it. Nothing makes money faster than money. Invest it wisely and you can be a lot more wealthier.

Yes, that's the plan moving forward. We've never been on a family vacation, my DH's car has 350,000+ miles, and we have wanted a boat since DH and I met at 19yo so we were hoping to cross one of those off our list first.

My brain just keeps defaulting to "but $10k is 1/4 of your emergency fund don't do it"

You said the plan moving forward is to save that extra 100k, but you are here thinking about spending the extra money on a family vacation, a new car and a boat. LOOOOOL

[Anonymous]

You have a family with 2 young children, yet are driving a car with 356,000 miles on it. This is not safe. You need to purchase a new vehicle large enough to safely transport your family.

Driving a new, safe vehicle will create positive memories for all members of your family & will create feelings of positive self-esteem.

Invest in your home. With 2 young children make sure that the yard & house are safe with proper fencing, secure doors and locks and efficient windows.

New beds ?

Consider installing a whole house water filter.

Do you plan to enroll your children in private schools ? If so, all of your new earned wealth will probably be needed.

Congratulations !

Although my family owned as many as 5 boats at a time, all were purchased used and all were used quite extensively. Nevertheless, most say that the two happiest days in the life of a boat owner are the day the boat was purchased and the day the boat was sold.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is really depressing. I can't imagine not having taken a week away with my family in 13 years when I could afford it, and had the vacation time to do so to boot. So sad

It’s horrifying to me. I can’t imagine the lack of interest in seeing more of the world. When I was young, my family had very little in the way of savings, but we still took a few camping/fishing trips every year, which we all loved. We were comfortably MC by my HS years and upgraded to driving vacations to national parks or other sight seeing destinations and would stay at Holiday Inns along the way—also super fun. I think it’s quite worrying that OP’s family has never taken a family vacation. I hope they don’t end up like the PP.

I said we did not go for a week. 3-4 days max. There is nothing sad about it. And btw, when I was a kid, we did it every few years and it was completely miserable. I lived abroad for a summer and that was not a vacation. I was an adult. My kids can do that if they want. There is no reason to schelp around spending tons of money for weeklong vacations. People in other countries don't do this.

You’re a sad, strange little man.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is really depressing. I can't imagine not having taken a week away with my family in 13 years when I could afford it, and had the vacation time to do so to boot. So sad

It’s horrifying to me. I can’t imagine the lack of interest in seeing more of the world. When I was young, my family had very little in the way of savings, but we still took a few camping/fishing trips every year, which we all loved. We were comfortably MC by my HS years and upgraded to driving vacations to national parks or other sight seeing destinations and would stay at Holiday Inns along the way—also super fun. I think it’s quite worrying that OP’s family has never taken a family vacation. I hope they don’t end up like the PP.

I said we did not go for a week. 3-4 days max. There is nothing sad about it. And btw, when I was a kid, we did it every few years and it was completely miserable. I lived abroad for a summer and that was not a vacation. I was an adult. My kids can do that if they want. There is no reason to schelp around spending tons of money for weeklong vacations. People in other countries don't do this.

You’re a sad, strange little man.

I am a woman.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is really depressing. I can't imagine not having taken a week away with my family in 13 years when I could afford it, and had the vacation time to do so to boot. So sad

It’s horrifying to me. I can’t imagine the lack of interest in seeing more of the world. When I was young, my family had very little in the way of savings, but we still took a few camping/fishing trips every year, which we all loved. We were comfortably MC by my HS years and upgraded to driving vacations to national parks or other sight seeing destinations and would stay at Holiday Inns along the way—also super fun. I think it’s quite worrying that OP’s family has never taken a family vacation. I hope they don’t end up like the PP.

I said we did not go for a week. 3-4 days max. There is nothing sad about it. And btw, when I was a kid, we did it every few years and it was completely miserable. I lived abroad for a summer and that was not a vacation. I was an adult. My kids can do that if they want. There is no reason to schelp around spending tons of money for weeklong vacations. People in other countries don't do this.

You're right. People in other countries are sensible enough to splash out for 2 week vacations. My husband grew up middle class in Germany, and it was very common for them to head off to Mallorca or Greece.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:I feel stupid, but my brain does not make sense of the math. We will absolutely NOT fall victim to lifestyle creep. We are already in our forever home. We both grew up LMC and understand how fortunate we are to have already started 529s, Roth IRAs on top of 401k etc. That is where our money will go- into the future.

That being said, we would like to make one purchase to celebrate- a vacation, boat (used), or (used) car for DH as his has 356,000 miles. I truly cannot comprehend what we can afford.

We have a 5yo and a 1yo. We are 31/32yo. Here's an overview of our finances:

HHI 260K
Bought our house 5 years ago (tomorrow!) for $325,000 by putting down $45k with a 30 year mortgage. We just got out of PMI.
$2400/mon mortgage, taxes, insurance
$1400/mon daycare (older DC will be in public next year)
$4000 left on my car (will pay off eventually we have 0% interest)
No student loans or other debt

We have been putting $500/mon into 529s, maxing 401Ks, I have a Roth IRA on top of that, and we have $40,000 emergency fund.

Can we make a $10k vacation, $15k boat, or $25k vehicle purchase without worrying? Not planning on changing anything else except adding more monthly to 529s.

Oh bless your heart. You’re already in that slippery slope.

Because you grew up LMC is going to be even harder for you especially since you think you are now filthy rich.

^^^

This

There will always be excuses to spend. It’s just the beginning.

Yep.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is really depressing. I can't imagine not having taken a week away with my family in 13 years when I could afford it, and had the vacation time to do so to boot. So sad

It’s horrifying to me. I can’t imagine the lack of interest in seeing more of the world. When I was young, my family had very little in the way of savings, but we still took a few camping/fishing trips every year, which we all loved. We were comfortably MC by my HS years and upgraded to driving vacations to national parks or other sight seeing destinations and would stay at Holiday Inns along the way—also super fun. I think it’s quite worrying that OP’s family has never taken a family vacation. I hope they don’t end up like the PP.

I said we did not go for a week. 3-4 days max. There is nothing sad about it. And btw, when I was a kid, we did it every few years and it was completely miserable. I lived abroad for a summer and that was not a vacation. I was an adult. My kids can do that if they want. There is no reason to schelp around spending tons of money for weeklong vacations. People in other countries don't do this.

You're right. People in other countries are sensible enough to splash out for 2 week vacations. My husband grew up middle class in Germany, and it was very common for them to head off to Mallorca or Greece.

Yeah, our paltry week to 10 day vacations seem pathetic to most Europeans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We made 300k and never went on vacation for 10k or bought anything expensive like a boat. You don't make enough for a boat and ongoing expenses. Take a modest vacation. There is no need to upgrade your car.

Airfare alone for a family of 4 is going to be 4k. Then let's say you spend 10 days somewhere accessible and easy in Europe. On 6k as a family of 4 for hotels, food, etc. That's not exactly living in the lap of luxury or being overly extravagant!!

I think 10 days in Europe is extravagant! Or 10 days anywhere. I have never taken a 10-day vacation in my life.

Seriously? Why not? Honest question. Do you have no PTO or vacation time? A week is never long enough anywhere besides the beach. By the time you've settled in to wherever you're visiting, it's time to pack up.

I have vacation. I never use all of it. I do not even do 7 days anywhere. I use my vacation to visit family. Occasionally 3 nights at the beach with kids. 10 days is extravagant. Many many people do not even take annual weeklong vacations. You live in a DC bubble.

this is so so sad- maybe lots of people live this way but it isn't a happy or satisfied way to live. I know people who cant take vacations- they do domestic or retail labor but they don't want to live that way-its part of their hard lot in life and they think that they have a hard lot in life and these people live in developing countries or have moved here from developing countries and are struggling to establish themselves. I don't think anyone willingly never takes a week long vacation in a year. I mean, ppl cant afford fancy vacations and take camping trip or something..

Anyhow- Op, stash the extra cash away for a whole year and then reevaluate.

Most people in the United States can't afford annual family weeklong vacations. Almost no one took them growing up. You live in a coastal bubble that is completely different from average college-educated people.

I make near 200k divorced and single and think a weeklong vacation is an incredibly stupid waste of money. A long weekend, okay? But a week? No. Maybe once a decade. The last vacation I went on like that was in 2009. It was not worth the money.

This is really depressing. I can't imagine not having taken a week away with my family in 13 years when I could afford it, and had the vacation time to do so to boot. So sad

It’s horrifying to me. I can’t imagine the lack of interest in seeing more of the world. When I was young, my family had very little in the way of savings, but we still took a few camping/fishing trips every year, which we all loved. We were comfortably MC by my HS years and upgraded to driving vacations to national parks or other sight seeing destinations and would stay at Holiday Inns along the way—also super fun. I think it’s quite worrying that OP’s family has never taken a family vacation. I hope they don’t end up like the PP.

I said we did not go for a week. 3-4 days max. There is nothing sad about it. And btw, when I was a kid, we did it every few years and it was completely miserable. I lived abroad for a summer and that was not a vacation. I was an adult. My kids can do that if they want. There is no reason to schelp around spending tons of money for weeklong vacations. People in other countries don't do this.

You're right. People in other countries are sensible enough to splash out for 2 week vacations. My husband grew up middle class in Germany, and it was very common for them to head off to Mallorca or Greece.

Yeah, our paltry week to 10 day vacations seem pathetic to most Europeans.

I know. We used to go to the beach for 3 weeks every summer. Plus 3 weeks in the mountains with relatives (parents were in the city and worked during that time). 1 week skiing during February and 1 week Venice over Easter. We weren’t rich but knew how to live well.

[Anonymous]

A boat will never be the purchase price. Be ready to throw buckets of $$$$$$$$$$$ at it.

[Anonymous]

Don’t change your lifestyle, just save more and you will thank me in 20 years.

[Anonymous]

A boat at 260k?? Why OP! Our HHI ranges from 275-300k with similar mortgage and no we don’t have a boat. That’s silly! Drive the car til it dies then replace. Bank the extra money.

[Anonymous]

Anonymous wrote:You have a family with 2 young children, yet are driving a car with 356,000 miles on it. This is not safe. You need to purchase a new vehicle large enough to safely transport your family.

Driving a new, safe vehicle will create positive memories for all members of your family & will create feelings of positive self-esteem.

Invest in your home. With 2 young children make sure that the yard & house are safe with proper fencing, secure doors and locks and efficient windows.

New beds ?

Consider installing a whole house water filter.

Do you plan to enroll your children in private schools ? If so, all of your new earned wealth will probably be needed.

Congratulations !

Although my family owned as many as 5 boats at a time, all were purchased used and all were used quite extensively. Nevertheless, most say that the two happiest days in the life of a boat owner are the day the boat was purchased and the day the boat was sold.

A 356k car is perfectly safe if it’s well maintained and passes inspection. She shouldn’t replace it until they have to.

[Anonymous]

Anonymous wrote:Don’t change your lifestyle, just save more and you will thank me in 20 years.

Absolutely this. You were doing fine on your 150k lifestyle so maintain that and enjoy real financial freedom by stacking the additional. Smaller splurges here and there that you wouldn’t have done before will make your day to day feel more luxurious but you will not feel any financial pinch or the strain of new expenses. This is really the way to go.

[Anonymous]

We save more when we earn more. Why do you have to do anything?

I would get a new car.