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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Many likely were not taught to save.

That is not a character flaw, but it is an obstacle.

My DH and I were not taught this either, but being married and working together we have improved our financial literacy over decades and are lucky to have DCUM UMC salaries.

We are terrible savers, but if we can automate and never see the money that works for us.

I think the “pay yourself first”, meaning savings, mentality is great but hard for many people who don’t think long term to execute.  This is not something taught in school or society.  People do not talk about money and people don’t like feeling as if they do not make as much as their friends and neighbors.  It is hard for many to say “I cannot afford that” because of shame.

It is easier to live on a salary of $150K than to have a salary of $300K and live on a salary of $150K.

Those that are better at savings appear to balance the pain of frugality with the joy of experiencing superiority.

People feel bad that private college is expensive and they cannot afford to give that to their children.  College is crazy expensive.  There are less expensive options.

Our children will be better off for not getting everything they want.[/quote]

No, it’s easier to live off $300k and save a lot than 150k.  Your poor choices are not colleges problem.  It’s yours.  We talk about money in our home all the time. [/quote]

Most seem to forget that life is all about choices.  They could live off $150K easily.  They just chose to spend more and save less.  In fact, it would only take a few years living off $150K and they would have enough front loaded for college to increase their living up to $200K and still contribute to college and everything else. [/quote]

There is so much holier than thou on this forum.

It takes resolve that many people do not have to earn $300K and live like year earn $150K.

Why don’t the people that make $150K live like they make $75K and save the difference?  You could say this at any income level.

Look, I am not saying that people that make $300K should qualify for financial aid.  They should not.

And there is a range of circumstances of families that have saved various amounts and will choose a variety of schools.

But all this condescension implying it is so easy ignores many of the realities of life.  What is easy for one person is hard for another.

[/quote]

What an idiotic post. Sure, and the people making 70k could just live like they make 35k -- your relativism may suit your justification of your wealth,  but it makes no sense.

Poor poor people making 300k. Their lives are so hard. Those of us at 150k have it so easy. Good grief.[/quote]

What I said was:

Families with HHIs of $300K/year or higher will not and should not be awarded financial aid.

All of the people assuming what others could have done differently are not living those people’s lives.  The condescension is not necessary.

Savings and lifestyle habits are taught/learned and many people are doing their best with the knowledge and resources they have.

I am not complaining about my income.  We do not apply for or receive financial aid.

[/quote]

If you are capable of earning $300K, I sure as hell hope you're capable of understanding/self teaching yourself to understand that you can continue to live on "the $150K you previously were living on" and not spend every extra dollar you are earning.  If you are dumb enough to let lifestyle creep happen and not focus on saving your new income towards retirement and college (if you have kids), then that is a YOU issue.

We grew up poor (both me and my spouse).  We came out of college with $60K+ debt over 30 years ago.  We spent our first 3-4 years intensely focused on paying off that debt.  We drove old cars (mine had no AC in an area that we needed it), we didn't take vacations, we packed our lunches most days and took snacks/sodas to the office to save money.  We went out to eat maybe 2 times per month with friends and maybe 2-3 lunches at work over the month (once again with groups of coworkers). We lived in an okay apartment, but could have "afforded a much nicer one".  Instead, we worked to live on one income and save the other for debt repayment.  If we got a bonus, it went directly to debt.  Once we paid that debt off we saved for downpayment.  Sure, most of the coworkers are age were living differently and it would have been nice to do that.  But owning a home at age 28 and having no other debt was worth it.  And even then we bought a decent house but did not stretch.  That way we could continue to save.

Sure I would have loved to spend the extra $40-60K/year for those years on myself rather than saving.  But it was the responsible thing to do to save and get rid of debt.

[/quote]

Good for you.  You made choices that made sense to you.  [b]No one is asking you to feel sorry for anyone with a $300K HHI[/b].  I was simply suggesting that you have not walked in everyone’s shoes and there are other options than feeling of superiority and expressions of condescension.

[/quote]

DP. Other posters were asking exactly that.[/quote]

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