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Money and Finances
Reply to "Budgets don't work"
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[quote=Anonymous][quote=Anonymous]A friend of my husband's recently said the following about their money management style - we aren't good with money, we just have a lot of it. It's easy to not budget when your HHI is 300k. You set aside 20-30% in savings and live off the rest because the "rest" is more than what most people are living off of total. Budgeting is paramount for the poor and middle class. Anyone who says different is a charlatan. [/quote] We are at a similar income level and this is true IF (and its a big IF) you don't overcommit yourself to large mortgage, car and private school payments. But yes, in our case our mortgage is very affordable and we pay cash for cars and send kids to public school. We save a large portion and don't bother budgeting the rest. [/quote]
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