Reply to Is this a reasonable amount of spending money per month based on our income?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]First, I don’t think OP’s numbers add up. Late 20s, you’re making 320 now but were likely making less than that in each preceding year. You have $1m saved? Your wife has expensive tastes and you’re going to do this hairbrained $24k scheme and still sock away money for saving for a house and tons of other personal savings? Does not add up.  I think they’re getting family money. Or op brought a lot of money to the marriage that he saved before his wife leeched onto him.

Second, 1200 a month is bonkers. I’m another person in a very high hhi and both DH and o made seven figures each. We spend money on vacations and dinners out. I spend about $4000 a year on Botox and hair - which is super indulgent. But I’m old! I cannot think of other fun money stuff that would add up to another 10k a year. That’s a lot of clothes, purses and make up and dinners with friends.  Your wife has a spend problem.

Last, I love how op quietly slipped in that most of the income is his. This is how it goes. Women with good incomes understand the value of money better. It’s always the low earning wives who are happy to spend their spouses money. [/quote]

Do you go outside? Do you have hobbies? Sailing, skiing, cycling, backpacking, woodworking (or anything requiring tools), hunting, target shooting, archery, trail running, triathlons, marathons, kayaking, etc it all can get expensive real quick [/quote]

Not $800 a month quick! Of course I have hobbies - woodworking is one, baking, needlework, biking, running. The combined sum of those is like $1000 a year [/quote]

Many of those hobbies have high startup costs but become cheaper once you have what you need. If you’re younger and are just getting started it’ll cost more than if you’re older and bought the equipment many years ago. Also within a given hobby you can keep it low cost but there’s often a very wide range in quality and price, for example with cycling an entry level bike might be $1,000 and a high end one $10k+.

Just saying that some people might have a strong desire to spend a lot of on their hobbies and derive a high level of satisfaction from using quality expensive gear, even if it’s not a requirement to participate. $10-20k is easy to hit per year if you go hard in one or two specific hobbies. For some folks that’s worth it, maybe not for you. I personally don’t see the value of private school or vacation homes even if a lot of others do (I went to both high quality public and privates growing up. Not much difference in outcome in my experience). [/quote]

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