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re: Feeling broke on a $665K salary
Posted on 1/21/24 at 10:27 pm to Oilfieldbiology
Posted on 1/21/24 at 10:27 pm to Oilfieldbiology
It is def a personal issue. Some people who did not come from money and then make a living where they have a very high income do not know how to manage the money. I knew someone who had a salary north of $250K a year after taxes and was stressed over money each month. It is because she would shop and have multiple packages from various online stores delivered each month.
That money would flow out as easily as it brought in. High end purses. Shoes. Clothes. Decorations. Just never stopped.
That money would flow out as easily as it brought in. High end purses. Shoes. Clothes. Decorations. Just never stopped.
Posted on 1/22/24 at 6:12 am to MasterKnight
quote:
I knew someone who had a salary north of $250K a year after taxes and was stressed over money each month
I used to be a guy who made good money but not great money for a family of 4. I was never financially comfortable.
Now we are a blessed family making a lot of money. What I have noticed between the two lifestyles:
You earn more you spend more.
The temptation for frivolous spending is always there. It is way easy to rationalize buying a more expensive car, a luxury vacation, etc. etc. Laying $1,000 on something won't break you or cause a lack of sleep, but if you do that 100X it would put you in a pickle, like this guy.
The more you make usually means the more successful you are and have ambitions. If someone is making a million dollars a year, they are not going to stockpile their money and live in a 350K house, drive a chevy, live cheap etc so they can retire at 50 and sit in his lazyboy watching fox news every day. I guarantee that the guy is determined to be making more $, so he is determined to work harder. When you are making that kind of money, you want/expect a better lifestyle, the problem is people don't understand that they can live a better lifestyle but only within reason.
The worry that our success could topple is more stressful than managing money. I save a good chunk of money to prepare for a doomsday event. A lot of people don't think that way.
No matter how much money you have in the bank, or how much income you bring in every year, you are not satisfied. You set the bar higher and attempt to achieve it.
This post was edited on 1/22/24 at 6:13 am
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