Reply to so who actually shops at Bloomingdales? Stays at 4/5 star resorts for $1000/night?

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Reply to "so who actually shops at Bloomingdales? Stays at 4/5 star resorts for $1000/night?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]
i guess the moral of the story is that you can't under estimate how expensive kids really are. 
When I was in my 20's I went to Europe a lot and stayed in low end hotels or hostels.  Now a trip to Europe is a giant expense because airfare alone for 5 people is $5K.  Instead of buying fish and chips for one, we're feeding 5. 
It's remarkable how you can earn what by standard is a great income ($400K) and still be no where near being able to afford luxury goods (aside from an occasional anniversary-type splurge).  [b]Sure, i could buy the $3K handbag.  I have the money in the bank. 
but it will stress me out because I have 3 looming college tutions, and then there is grad school......
[/b]
Kids just suck up an unbelievable amount of money.   My oldest son is turning out to be a great soccer player who is crazy obsessed with the game (4th grade).  He plays travel soccer.  Our local program just cost us $3500 (all fees, tournaments, required winter training, required week of summer camp etc) for this year.  And we didn't go 
looking for the most expensive, high end program.  He just tried out for the travel team of our rec league and suddenly we're paying $3500 over the course of the next 12 months.  Our youngest loves the piano.  So we're paying weekly lessons.  
At $36/week plus recital that's another $2K/year.   It just all adds up and so our baseline lifestyle remains unchanged from what it was 10 years ago. 
We're making a very respectable income (which I and the government and just about everyone on the planet would actually say is a HIGH income) and splurges are few and very far between.    
[/quote]

I can totally relate to this too and our income is quite a bit higher than the OP's (500k-750k depending on bonuses). I could easily buy myself a $3k purse but would never do so because we also have three kids and all the expenses they come along with. We deposit $1250 a month into EACH of their accounts. That's our big luxury, lol. And even then I feel like we should be doing more - saving to give them DPs for example. My big goal for them is to be able to choose a job based on interest rather than money. Plus we spend about $700 a month on their activities (includes private lessons). We do travel but so far it's to places like Disney World and other domestic cities like San Diego and San Francisco. We stay in rooms that are more like $400-500 a night. Still, it's nothing to complain about.[/quote]

And how will they support themselves in the manner that they've become accustomed with the job based on interest rather than money? It's great that you are generous but I've seen this backfire. The child got the handouts and just keeps going back for more. Maybe you paid the down payment but they want a new kitchen or car or some item they can't afford. Will you keep handing out money? 
Just be careful how you approach this. [/quote]

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