Now we have a higher income there is a desire to 'get ahead' squirrel away money just incase dh can't work away forever. Also now we have a higher income we pay for things like mobile phones that actually work and a real internet connection! Something we had just gone without.
We also have a second property. It is not a positive thing. It just means extra stress, extra bills to pay. We cannot just sell it, it has been on the market for 6 months, at a price that will be a loss to us
So while we are a lot more comfortable with a higher income, its not without stress and money seems to fly out the door almost as quickly.
Certainly don't live in poverty, though!
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08-05-2013 07:50 #91Feel my wrath!
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08-05-2013 07:57 #92
Never thought I'd say this, but please God- make me "poor" like her!
08-05-2013 09:04 #93
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08-05-2013 09:33 #94
We earn over $100k and certainly don't feel poor, but definitely not rich.
Can't even afford a house with a third bedroom but that's of course because of where we choose to live, and for us, living in suburbia is not a life we ever want. So it's our choice in that respect.
I don't know anyone who earns six figures who would ever actually say they were poor. Poor cash flow maybe but not actually poor.
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08-05-2013 09:34 #95
$100k/year is below the poverty line?
Sign me up!
I earn around $35k/year after tax and consider that to be more than adequate for DD and I to live off. Before I left my Ex, that $35k paid for him too.
I think the 'I'm SO poor!' cry is thrown about far too often. Basically all of my friends are 'poor'. However none of them have children, all of them have partners. Minimum combined wage would be at least $70k.
They all buy too much crap. Clothes, electronics, take-out, etc. Makes me cringe....
08-05-2013 09:40 #96-
- Join Date
- Apr 2013
100k isn't below the poverty line, and it's definitely not rich either. I'd say on that income having more than one property and mortgage I could see why they would be struggling. 100k is a pretty average income. But I do wonder why they are getting $200 in benefits? That seems abit odd to me.
08-05-2013 09:46 #97
We live within our means, regardless of our wages. Aside from our mortgages, we have no debt as we like to pay upfront and only buy what we can afford. I decided that the Joneses sounded really boring years ago!
I think my family are very blessed. We have decent wages, a house, we can pay our bills. Calling myself poor or struggling would be an insult to those who actually are struggling.
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08-05-2013 10:54 #98
I think for many in the middle class income range, their concept of "struggling" is skewed. Even on $100k+, you do have periods where you have to tighten your budget, sure. DH and I discuss what we will be spending on bills and expenses each month, and work out what we have left over. Some months we have to live a little more frugally, some months we can have a splurge. I wonder if some people on our incomes consider themselves "struggling" when they are merely having a tight month? We can still afford the basics every month, we can buy our children food without it being financialky stressful. This is not struggling.
To me, struggling is paying your bills and rent, and realising that you will only have $20 to feed your family for a week.
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08-05-2013 11:00 #99
we got 29,000 last year in taxable income. we live have a roof (rental) pay phone and internet, power and food we may not have much in the way of stuff but we are happy. live right near town no need to drive 5 mins from the beach and parks. Someone on 100,000 may have a big morgage or a big comute to work taking up more petrol. I think poverty is a relative thing as us on 100,000 after living years on the minimum would be obscene we wold probably go overboard spending
08-05-2013 11:22 #100
DH earns 120,000 gross a year. We are definately not living on the bread line with this income. I think coming from earning 45,000 a year for so many yers and living very frugally is made us appreciative of what we have. We don't own any houses as yet but are saving for one are there months when we are cash flow poor yes definately. An ill say I'm broke at the time (have house savings but will not touch them unless 100% nessicary) but I never class us as living on the poverty line.
I will say this going from little to substantially more you do tend to spend more then you need to. I'll any we did to begin with lol but then started saving for out own home ad had car issues and medical issues that all seemed to hit at once it really makes you reassess your finances. We live like we did on 45,000 a year with 120,000 and we've Learnt we can comfortably live that way ad save a lot of money
IMO OP not poverty but maybe cash flow issues
Me (21) DH (25) DS (4) DD (2)
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