Anonymous wrote:We have to budget with a low 7-figure income. Big house with mortgage that costs a lot to maintain plus nanny, kid in college, other in private school, household help, sending money to one set of parents, saving for college for younger kids and continuing to fund our retirement, endless home repairs. It all adds up - somedays I feel like I'm working myself to death to take care of everyone else and I just want to quit.

Yup this is what I mean by fixed expenses. You can golden handcuff yourself on just about any income.

Honesty it depends on fixed expenses. We stopped at around $400k but have a PITI of $2700/mo. Now at $800k HHI it’s really loose.

Anonymous wrote:

Anonymous wrote:I budgeted and watched spending closely until $2M. I didn't feel comfortable at Whole Foods, except for a specialty item now and then. We splurged on 1 expensive vacation per year but otherwise kept travel to staying with family and friends. I shopped sales. We talked about big purchases. We reviewed spending and our budget 4 times a year. Very consistent with all that until $2M. Once we hit that, it was like a light switch for me, and I'm not sure that's good. But now I have no guilt about Whole Foods, we fly first class, DH just made a $25k charitable donation without talking to me first and I didn't blink an eye.

Is this a hoax post? Whole Foods? It’s not even in the same ballpark as First Class. I think Whole Foods is in the middle of the pack in terms of price. Wegmans is definitely more expensive.

Hmm, I’m from a poor, relatively rural area. There’s no Whole Foods or Trader Joe’s there. But there is a Wegmans.

Our HHI is $450K. We still budget in that we think about and plan what we spend. We got a Honda instead of a BMW recently. We got to where we are by always being mindful and will continue to.

Anonymous wrote:We have to budget with a low 7-figure income. Big house with mortgage that costs a lot to maintain plus nanny, kid in college, other in private school, household help, sending money to one set of parents, saving for college for younger kids and continuing to fund our retirement, endless home repairs. It all adds up - somedays I feel like I'm working myself to death to take care of everyone else and I just want to quit.

Why don't you quit then?

We have to budget with a low 7-figure income. Big house with mortgage that costs a lot to maintain plus nanny, kid in college, other in private school, household help, sending money to one set of parents, saving for college for younger kids and continuing to fund our retirement, endless home repairs. It all adds up - somedays I feel like I'm working myself to death to take care of everyone else and I just want to quit.

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Anonymous wrote:We earn eight figures and budget. We want to grow savings not blow through it.

My god, what could you possibly spend it on? We are very HHI. By $2M our 4 largest expenses in order were investments, taxes, house expenses and charitable deductions. As it when up from there house expenses lowered and the other 3 increased. Given that they are discretionary I cannot imagine what what would need to budget for at a consistent 8 figures.

We want this to last for generations to come.

And you’re concerned that if you only put $4.5M in investments vs $4.7M one year, it would make a difference? I’m curious which categories of budgeting expenses are you concerned that you would overspend if you didn’t budget?

It's not so much "concern" but interest. We won't buy our daughters $100 articles of clothing for example, because they are growing and it's a waste to spend that much now. I have a friend who replaces her sheets and towels every year, but we wouldn't do that. She also gets a new car every other year. Another buys new clothes each season and wouldn't wear a swimsuit from last year. It's mostly the day to day things, with some larger items tossed in.

That's not "budgeting," that's clinically insane levels of penny-pinching neurosis.

On an 8-figure yearly income you could buy new sheets and towels every MONTH and it wouldn't affect your wealth planning one iota. Seek help.

Idk I’ve found Costco fruit to be better than Whole Foods…

I’m a single woman who makes 120-130k, has no debt, and I use YNAB religiously. It helps me reduce spending in areas I could easily splurge without thinking - like eating out and costs during vacations.

I have budgeted and will always budget: savings no matter what our HHI was, is and will be.

At the start of the year, we decide our savings goal based on anticipated gross income (not investment returns) and everything else is free to spend as needed. We typically "budget" to save a third of gross income.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I budgeted and watched spending closely until $2M. I didn't feel comfortable at Whole Foods, except for a specialty item now and then. We splurged on 1 expensive vacation per year but otherwise kept travel to staying with family and friends. I shopped sales. We talked about big purchases. We reviewed spending and our budget 4 times a year. Very consistent with all that until $2M. Once we hit that, it was like a light switch for me, and I'm not sure that's good. But now I have no guilt about Whole Foods, we fly first class, DH just made a $25k charitable donation without talking to me first and I didn't blink an eye.

Is this a hoax post? Whole Foods? It’s not even in the same ballpark as First Class. I think Whole Foods is in the middle of the pack in terms of price. Wegmans is definitely more expensive.

Haha - I had the opposite reaction. I feel like it has to not be a post because it's so random that no one could make it up, but it's something that the poster had a "thing" about previously.

I'm the one who originally considered Whole Foods to be for rich people. Is that not true anymore? I still consider doing a regular grocery shop at Whole Foods/Balduccis to be a luxury similar to first class! I'm talking about your whole family grocery shop for the week. Maybe I denied myself Whole Foods for too long! I was a Giant or Safeway generic brands only shopper and I only started to buy clothes at full price recently.

We shopped at WF (not exclusively) when our HHI increased to 200K, health and convenience was the reason, not money. I was pregnant and with husband travelling 5 days a week, it was not worth it to shop anyhwere else for quality low volume produce. Now that our kids are teenagers and our HHI is 600K+, we buy a lot of organic produce from Costco, go through organic apples, organic berries, organic milk etc.. fairly quickly. I typically see super health conscious, small families with young children, pregnant females at Whole Foods. Don't think WF is a "rich only" thing. BTW, I have never flown First class and business class only one time so I definitely don't put WF in the same category as first class

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I budgeted and watched spending closely until $2M. I didn't feel comfortable at Whole Foods, except for a specialty item now and then. We splurged on 1 expensive vacation per year but otherwise kept travel to staying with family and friends. I shopped sales. We talked about big purchases. We reviewed spending and our budget 4 times a year. Very consistent with all that until $2M. Once we hit that, it was like a light switch for me, and I'm not sure that's good. But now I have no guilt about Whole Foods, we fly first class, DH just made a $25k charitable donation without talking to me first and I didn't blink an eye.

Is this a hoax post? Whole Foods? It’s not even in the same ballpark as First Class. I think Whole Foods is in the middle of the pack in terms of price. Wegmans is definitely more expensive.

Haha - I had the opposite reaction. I feel like it has to not be a post because it's so random that no one could make it up, but it's something that the poster had a "thing" about previously.

I'm the one who originally considered Whole Foods to be for rich people. Is that not true anymore? I still consider doing a regular grocery shop at Whole Foods/Balduccis to be a luxury similar to first class! I'm talking about your whole family grocery shop for the week. Maybe I denied myself Whole Foods for too long! I was a Giant or Safeway generic brands only shopper and I only started to buy clothes at full price recently.

I am not sure - my husband shops there about once a week for things that he considers higher quality there and worth paying for but he's pretty adamant about not buying most things there. I got mad at him when he was supposed to go grocery shopping to prep for a ski trip and he ended up only going to Whole Foods and then wouldn't buy me the hot choc i requested because he wasn't go to pay for it at WF. I was like - even if it was $5 for a pack there as opposed to $3 at another grocery store, you should have bought it - that's cheaper than $3 / cup I have to pay on the slopes!!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I budgeted and watched spending closely until $2M. I didn't feel comfortable at Whole Foods, except for a specialty item now and then. We splurged on 1 expensive vacation per year but otherwise kept travel to staying with family and friends. I shopped sales. We talked about big purchases. We reviewed spending and our budget 4 times a year. Very consistent with all that until $2M. Once we hit that, it was like a light switch for me, and I'm not sure that's good. But now I have no guilt about Whole Foods, we fly first class, DH just made a $25k charitable donation without talking to me first and I didn't blink an eye.

Is this a hoax post? Whole Foods? It’s not even in the same ballpark as First Class. I think Whole Foods is in the middle of the pack in terms of price. Wegmans is definitely more expensive.

Haha - I had the opposite reaction. I feel like it has to not be a post because it's so random that no one could make it up, but it's something that the poster had a "thing" about previously.

I'm the one who originally considered Whole Foods to be for rich people. Is that not true anymore? I still consider doing a regular grocery shop at Whole Foods/Balduccis to be a luxury similar to first class! I'm talking about your whole family grocery shop for the week. Maybe I denied myself Whole Foods for too long! I was a Giant or Safeway generic brands only shopper and I only started to buy clothes at full price recently.

It got cheaper and started carrying more affordable generic items when Amazon bought it. It’s still pricier than your average Safeway/Giant haul but not necessarily at “only rich people” levels.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I budgeted and watched spending closely until $2M. I didn't feel comfortable at Whole Foods, except for a specialty item now and then. We splurged on 1 expensive vacation per year but otherwise kept travel to staying with family and friends. I shopped sales. We talked about big purchases. We reviewed spending and our budget 4 times a year. Very consistent with all that until $2M. Once we hit that, it was like a light switch for me, and I'm not sure that's good. But now I have no guilt about Whole Foods, we fly first class, DH just made a $25k charitable donation without talking to me first and I didn't blink an eye.

Is this a hoax post? Whole Foods? It’s not even in the same ballpark as First Class. I think Whole Foods is in the middle of the pack in terms of price. Wegmans is definitely more expensive.

Haha - I had the opposite reaction. I feel like it has to not be a post because it's so random that no one could make it up, but it's something that the poster had a "thing" about previously.

I'm the one who originally considered Whole Foods to be for rich people. Is that not true anymore? I still consider doing a regular grocery shop at Whole Foods/Balduccis to be a luxury similar to first class! I'm talking about your whole family grocery shop for the week. Maybe I denied myself Whole Foods for too long! I was a Giant or Safeway generic brands only shopper and I only started to buy clothes at full price recently.

post = hoax