150k for me would be a dream right now. I have a dog, a gf, and I rent. But if you’re making 150k and you have two kids and a spouse for example, suddenly that 150k doesn’t go very far at all.
Yep, my mother used to manage pays for engineers making up to 300k and for some of them it was a disaster if a mistake lead to 200$ being missing from their cheque and they would be in her office first thing in the morning in full panic mode…
Especially considering that at the time they could have just bought a house minutes from their office on a year’s salary instead of being over their head in debt because they preferred living in the next city in a house worth a couple millions…
That’s why lifestyle creep is a tough one. You make more money and then start thinking you want a bigger home, nicer car, eat out a lot more etc. It’s hard to scale back from that when the times get tougher as selling a multi-million home isn’t that easy.
I mean you can make any income be paycheck to paycheck by spending too much.
150k for me would be a dream right now. I have a dog, a gf, and I rent. But if you’re making 150k and you have two kids and a spouse for example, suddenly that 150k doesn’t go very far at all.
Yep, my mother used to manage pays for engineers making up to 300k and for some of them it was a disaster if a mistake lead to 200$ being missing from their cheque and they would be in her office first thing in the morning in full panic mode…
That’s wild to me.
Especially considering that at the time they could have just bought a house minutes from their office on a year’s salary instead of being over their head in debt because they preferred living in the next city in a house worth a couple millions…
That’s why lifestyle creep is a tough one. You make more money and then start thinking you want a bigger home, nicer car, eat out a lot more etc. It’s hard to scale back from that when the times get tougher as selling a multi-million home isn’t that easy.