Why is saving money so hard?

[Safeway]

Is this a serious post ??
Post-tax of $10K a month ?? Thats $120K a year and ~$200K gross.
WTF !!! Thats in the top 5% percentile.

It's completely serious. And, to be fair, it's closer to $160k to $180k, depending on deductions.

What's so unbelievable about it? At present, I couldn't make it by on only $10k. I'd lose my house.

 

[z1ggy]

It's completely serious. And, to be fair, it's closer to $160k to $180k, depending on deductions.

What's so unbelievable about it? At present, I couldn't make it by on only $10k. I'd lose my house.

Location: Texas


Wtf are you trolling? $10k a month in Texas is crazy money. You are clearly living an overly extravagant life style if anything less than $10k per month means you would lose your house. How big is your house? How many vehicles do you own and what are they? How many kids do you have and how badly are you spoiling them? Surely, you aren't putting $8k a month into stocks & other savings.

#firstworldproblems

 

[Engineer]

Location: Texas


Wtf are you trolling? $10k a month in Texas is crazy money. You are clearly living an overly extravagant life style if anything less than $10k per month means you would lose your house. How big is your house? How many vehicles do you own and what are they? How many kids do you have and how badly are you spoiling them? Surely, you aren't putting $8k a month into stocks & other savings.

#firstworldproblems

LOL....All of this!!!!

And people wonder why it's hard to save....lol.

 

[z1ggy]

LOL....All of this!!!!

And people wonder why it's hard to save....lol.

Makes me so pissed when people with the top 1% of incomes complain about being in money trouble. It's so simple. Stop buying more things. If you lived on a budget of $120k a year, but had a family income of $200k, things would be awesome. Depending where you live, $120k a year income can leave you with a perfectly fine life style, with $80k each year to bank.

Boggles my mind when the people in the worst financial situations are the ones with the most money.

 

[Fox5]

I'm lazy, and the bowls are far more convenient to fix. Just open bowl, remove dried veg packet and spice packet, fill with cold water, open dried veg packet, put on top, pop in microwave for 5 min, take out, let sit for water to absorb into noodles, open spice packet and stir in, and enjoy!

If I got the plain ramen packets, I wouldn't get the dried vegetables, and I would have to boil water myself, and then clean the pot afterwards.

Oh man, I hope you don't eat a lot like that. If your health isn't horrible now, you're going to be paying some crazy medical bills later in life. Rice is cheap, greens are cheap, vegetables are cheap, potatoes are cheap, and chicken, some beef, and some fish are reasonable. Make yourself a real meal! Buy a crockpot if you don't like cooking and throw everything in there, have dinner ready when you get home.

I'll admit though, even cooking at home, eating for under $5 a meal is tough if you're a big eater, so $5k a year minimum on food almost.

If you're living in a big city, you could easily spend $2k a month on an apartment.

So we're up to $30k post tax income yearly as bare minimum to live in a major city without roommates.

I once saw an article stating that money buys happiness up to about $80k-$90k salary. After that, there isn't much left to spend money on other than extreme luxuries. I'd imagine in an expensive area (DC, NYC, San Fran, etc) that number is probably higher, like $110k-$120k.

 

[dullard]

As soon as you get to one million....you'll feel that it needs to be two million....and the cycle will start over and continue...

Recent studies have shown that the real cutoff is 5 million. After 5 million net worth most people no longer ever think about money again for typical purchases. At that point most people begin to feel fully free to buy anything. True, you can't buy your own aircraft carrier or your own country, but lets keep this realistic.

Inflation will change that cutoff over time.

 

[Safeway]

Location: Texas


Wtf are you trolling? $10k a month in Texas is crazy money. You are clearly living an overly extravagant life style if anything less than $10k per month means you would lose your house. How big is your house? How many vehicles do you own and what are they? How many kids do you have and how badly are you spoiling them? Surely, you aren't putting $8k a month into stocks & other savings.

#firstworldproblems

I think that your concept of money is very, very flawed. $10k per month, post-tax, is nothing. My wife and I are living well within our means, paid off all of my student loan debt, and investing over 50% of our take-home pay in either funds or real estate investments. However, if we were only bringing in $10k per month for some appreciable amount of time (beyond our years of safety net), we would have to downsize and downgrade.

How far does $10k go in the Dallas market? Not very far at all. Let's set up a hypothetical family with one child. A 30-year mortgage on a two-bedroom house in a decent neighborhood would run about $1600/month (minimum, Dallas real estate is insane right now unless you live in the ghetto or a trashy suburb), but then add in at least $500/month for utilities (cell, internet, phone, electricity, gas) and at least $500/month for property tax and homeowners insurance and around $300/month for gas. You'd have two $400/month car payments as well, with a $100/month insurance premium. Since both you and your spouse are working full time, add in $1250/month for child care.

At this point, you've spent half of your money and you haven't purchased any food for the family ($1000/month), baby supplies ($500/month), miscellaneous high dollar items, such as new tires, car service, plumbing work, A/C repair, etc. (averaged to $500/month). Add in the fact that most individuals that are able to earn $10k/month post-tax are saddled with $100k in student loan debt (and are ineligible for most income-based adjustments) - this results in a $1200/month student loan payment for both husband and wife.

You've now spent $9500 during the month. How fucking lavish and extravagant is a 1400 square foot home, two mid-level ($30k) vehicles, and a baby? Not very.

 

[Safeway]

Recent studies have shown that the real cutoff is 5 million. After 5 million net worth most people no longer ever think about money again for typical purchases. At that point most people begin to feel fully free to buy anything. True, you can't buy your own aircraft carrier or your own country, but lets keep this realistic.

Inflation will change that cutoff over time.

I would agree with this number. Assuming a modest 5% growth, you'd earn $250k per year in interest. You could easily lease a new car every two years, shop exclusively at Whole Foods, etc. and never touch principal. That said, the minimum investment required to invest with several hedge funds that have seen average returns closer to 20% is only $2.5m.

 

[Engineer]

I think that your concept of money is very, very flawed. $10k per month, post-tax, is nothing. *SNIP*

LOL @ the notion of $10k per month, post-tax is nothing. Oh wait, forgot this is ATOT. $10k per month is just the tip money.

And for the rest of your post....

https://www.youtube.com/watch?v=rasZzenuYxI&feature=related

 

[Safeway]

LOL @ the notion of $10k per month, post-tax is nothing. Oh wait, forgot this is ATOT. $10k per month is just the tip money.

And for the rest of your post....

https://www.youtube.com/watch?v=rasZzenuYxI&feature=related

This sort of crass response to my well reasoned post is pathetic.

You can live in Dallas for much less than $10k/month if you receive food stamps, subsidized housing, free healthcare by way of hospital emergency departments, etc.

Or, you can drive a 15 year old vehicle, live in a shack in a trashy suburb, etc.

You need that sort of income if you want to purchase a house in a respectable part of the city, two reliable vehicles, reputable child care, and no past due bills. Otherwise, you'd be over extending and living beyond your means.

 

[NikolaeVarius]

This sort of crass response to my well reasoned post is pathetic.

You can live in Dallas for much less than $10k/month if you receive food stamps, subsidized housing, free healthcare by way of hospital emergency departments, etc.

Or, you can drive a 15 year old vehicle, live in a shack in a trashy suburb, etc.

You need that sort of income if you want to purchase a house in a respectable part of the city, two reliable vehicles, reputable child care, and no past due bills. Otherwise, you'd be over extending and living beyond your means.

So basically, you're saying that you need to make 10k a month to live a life of luxury and wealth unknown to the majority of the human population.

 

[Safeway]

So basically, you're saying that you need to make 10k a month to live a life of luxury and wealth unknown to the majority of the human population.

Since when is a fucking two bedroom home in a safe neighborhood and two Honda Accord-level vehicles a life of luxury and wealth? For fucks sake, is everyone here below the poverty line and poor as shit? This is middle-fucking-class that I am talking about. If you make minimum wage, I am sure that you have wet dreams about bringing home $10k/month. Once you are there, it ain't shit. It is merely normal.

 

[purbeast0]

2 $400/month car payments is pretty luxury imo. and for hondas wtf?

my wife and i both financed infinitis, she has a 2008 g35x, and i have a 2008 g37s, and we pay a little over $800/mo in car payments for both of those. insurance is $160/mo for both.

and we don't pull in over $10k/mo anymore after taxes though since i'm the only one working right now. and we had A LOT of extra/disposable income while we were both working. but while i'm the only one working now, not quite as much.

$10k/mo after takehome is a lot of money and makes living comfortably very easy with quite a few luxuries. trying to act like it's "nothing" is pretty assanine.

 

[z1ggy]

I think that your concept of money is very, very flawed. $10k per month, post-tax, is nothing. My wife and I are living well within our means, paid off all of my student loan debt, and investing over 50% of our take-home pay in either funds or real estate investments. However, if we were only bringing in $10k per month for some appreciable amount of time (beyond our years of safety net), we would have to downsize and downgrade.

...

Oh thank you, so you agree? Real estate investments, while generally can be smart, are a luxury.

The rest of the items you listed, are grossly over estimated in my opinion. I have friends with children who make much less than $10k a month, and are doing just fine.

No $400 dollar car payments, no $500 on cable, phones and internet. Remember, WANTS vs NEEDS. You are spending your $10k on many wants.

Since when is a fucking two bedroom home in a safe neighborhood and two Honda Accord-level vehicles a life of luxury and wealth? For fucks sake, is everyone here below the poverty line and poor as shit? This is middle-fucking-class that I am talking about. If you make minimum wage, I am sure that you have wet dreams about bringing home $10k/month. Once you are there, it ain't shit. It is merely normal.

Rage.

 

[NikolaeVarius]

Since when is a fucking two bedroom home in a safe neighborhood and two Honda Accord-level vehicles a life of luxury and wealth? For fucks sake, is everyone here below the poverty line and poor as shit? This is middle-fucking-class that I am talking about. If you make minimum wage, I am sure that you have wet dreams about bringing home $10k/month. Once you are there, it ain't shit. It is merely normal.

It has been a life of extreme luxury since the beginning of time.

It's only seems normal because you spend the money as fast (or faster) than your income increases.

The very fact that you consider that a normal standard of living is exactly why people have debt problems.

 

[xeemzor]

So basically, you're saying that you need to make 10k a month to live a life of luxury and wealth unknown to the majority of the human population.

I think he is referring to $10k/household not $10k/person.

 

[Safeway]

2 $400/month car payments is pretty luxury imo. and for hondas wtf?

my wife and i both financed infinitis, she has a 2008 g35x, and i have a 2008 g37s, and we pay a little over $800/mo in car payments for both of those. insurance is $160/mo for both.

and we don't pull in over $10k/mo anymore after taxes though since i'm the only one working right now. and we had A LOT of extra/disposable income while we were both working. but while i'm the only one working now, not quite as much.

$10k/mo after takehome is a lot of money and makes living comfortably very easy with quite a few luxuries. trying to act like it's "nothing" is pretty assanine.

So you are financing used vehicles. A new Honda Accord, over 5 years, would be over $400/month and the $100/month total insurance premium seems accurate in light of your premium.

No one has commented on my statement that those capable of earning such an income (household income derived from both husband and wife) are likely weighed down by student loan debt to the tune of $2,500/month over 10 years. They would not qualify for most debt relief plans, such as an extended payout schedule or income-sensitive payments.

$10k/month take home isn't nothing, but it isn't a life of wealth and luxury as others stated. It's a life of beige and normalcy.

 

[Engineer]

This sort of crass response to my well reasoned post is pathetic.

You can live in Dallas for much less than $10k/month if you receive food stamps, subsidized housing, free healthcare by way of hospital emergency departments, etc.

Or, you can drive a 15 year old vehicle, live in a shack in a trashy suburb, etc.

You need that sort of income if you want to purchase a house in a respectable part of the city, two reliable vehicles, reputable child care, and no past due bills. Otherwise, you'd be over extending and living beyond your means.

See my above response. Still stands.

 

[Safeway]

Folks, I think we've now found our new Alky. Hick Alky, welcome!

I take offense to this, and only this. Alkemyst was a fucking idiot.

 

[sm625]

Dont watch tv

 

[brianmanahan]

10$k a month

still not enough for an m3 :awe:

 

[purbeast0]

So you are financing used vehicles. A new Honda Accord, over 5 years, would be over $400/month and the $100/month total insurance premium seems accurate in light of your premium.

No one has commented on my statement that those capable of earning such an income (household income derived from both husband and wife) are likely weighed down by student loan debt to the tune of $2,500/month over 10 years. They would not qualify for most debt relief plans, such as an extended payout schedule or income-sensitive payments.

$10k/month take home isn't nothing, but it isn't a life of wealth and luxury as others stated. It's a life of beige and normalcy.

well they were 2-3 years old when we purchased them. that $400/mo payment on a new honda will also be $400 on a 4 year old car at one point.

my student loan is luckily only $179/mo since i graudated in 2004 and consolidated when everything was extremely low, and before prices of college got retarded expensive thankfully lol.

but i do agree with you, it's far from a life of wealth and luxury like many people seem to think. most of the jobs earning more come with higher areas of living too.

 

[z1ggy]

$10k/month take home isn't nothing, but it isn't a life of wealth and luxury as others stated. It's a life of beige and normalcy.

$10k a month in Dallas TX, is equivalent to approximately $13,300 here where I live. I currently take home about $3600 after tax, and live a fairly nice life in one of the most expensive states in the continental US. I don't have kids, but assuming I did (I'd have my g/f who makes about the same as me, putting us as $7200 combined) we'd probably have even MORE left over money, because according to you, a child does not cost more than $3600 per month (when you consider extra food, clothing, etc).

Sure, with high enough student loans maybe our cashflow would be close to $0 per month (living check to check), but in that case we'd be smart enough as a couple to never have a child to begin with. Further more, student loan debt in your case, was for ten years. Once we pay that off, that frees up that $2500 you referred to, leaving us with plenty of room to have a child, and incur no further expenses.

Face it, you're living a more luxurious lifestyle than you should. You just don't see it, because you're privileged.

 

[z1ggy]

I take offense to this, and only this. Alkemyst was a fucking idiot.

You're right sorry, crossed the line, I'll edit it.

 

[blackdogdeek]

True, you can't buy your own aircraft carrier or your own country, but lets keep this realistic.

Agreed. That's why we only lease our carriers and countries. This way we can get new ones every few years.