Summer Banks
archillesLiving paycheck to paycheck on $150,000 / year
December 19th 2006 05:00
I read this story last week in CNN-Money about a couple that make lots of money per year (atleast more than average) and are still having a hard time making ends meet.
The Schuetts earn a comfortable living with Amy getting close to $150,000 a year.
If she thought it would really fix her family's finances, Amy Schuett would make it her New Year's resolution to squeeze every bit of extra spending from the family budget
"We're struggling week to week to get by," says Brian, 42. "Any money that comes in gets chewed up right away."
Yet, says Amy, "We live from one paycheck to the next, we're struggling to save and we never seem to have enough money to do anything fun."
It’s not that the Schuetts are just out of college and this is Amy’s big job. They were making much more till Brian got laid off and their income got a big hit(Close to a quarter of a million )
My first reaction was “If they can’t meet expenses, then most of us shouldn’t even try!”
But then common sense slowly trickled in…it’s not about how much money you make…it’s about how you save money and enjoy life !
Hopefully, this little true story will keep reminding me that the grass is not always greener on the other side and making more money doesn’t always make life easier.
In fact, it gets harder. Once your lifestyle has been lifted, it becomes utterly unthinkable to live without satellite radio, TiVo, iTunes and Netflix or a monstrous SUV
So, how much money does it take to make you happy? Let me know ….
For me, after reading the article it’s far less than I think I want….
Parts of the above post are excerpted from CNN-Money
The Schuetts earn a comfortable living with Amy getting close to $150,000 a year.
If she thought it would really fix her family's finances, Amy Schuett would make it her New Year's resolution to squeeze every bit of extra spending from the family budget
"We're struggling week to week to get by," says Brian, 42. "Any money that comes in gets chewed up right away."
It’s not that the Schuetts are just out of college and this is Amy’s big job. They were making much more till Brian got laid off and their income got a big hit(Close to a quarter of a million )
My first reaction was “If they can’t meet expenses, then most of us shouldn’t even try!”
But then common sense slowly trickled in…it’s not about how much money you make…it’s about how you save money and enjoy life !
Hopefully, this little true story will keep reminding me that the grass is not always greener on the other side and making more money doesn’t always make life easier.
In fact, it gets harder. Once your lifestyle has been lifted, it becomes utterly unthinkable to live without satellite radio, TiVo, iTunes and Netflix or a monstrous SUV
So, how much money does it take to make you happy? Let me know ….
For me, after reading the article it’s far less than I think I want….
Parts of the above post are excerpted from CNN-Money
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Comment by katyzzz
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katyzzz
Comment by Lily
Ars Poetica
from a struggler -- i just need enough to pay the bills, save a little, have enough left for a holiday every now and then, and buy the daughties the things they need and want.. (not all the wants) .. oh and cable would be nice to have back....
~Lily
Comment by Adrian
Philosophy Blog
Comment by Lily
Ars Poetica
this is well written/formed btw... kudos Manjula, Frugally happy to read you...
~Lily
Comment by Mrs M
Mum's Word
Good post. So true.
I learnt that hard lesson. When I was at university I had a crap car, worked, saved, etc etc and I got sick of it. When I got married, I spent up big.
I've finally learnt my lesson and I don't care that the television has a big pink spot in the corner. We can still watch it. I've got better thing to do with my money than spend it on another tv.
Love & stuff
Mrs M
Comment by Scarlett
Absolutely agree; there's always a way to spend some $ if you want to.
Nice post
Comment by Manjula
Lily - I totally agree with you. Most people like us are struggling to pay bills and buy a few nice things for the kids
Adrian - 30,000-40,000 sounds reasonable. I guess the hardest part for most people would be to say NO to the big promotion after you reach your target and realize that time is more valuable
Mrs M - Glad you learnt what's important - even though it was the hard way...Guess some people just don't LEARN and keep on doing the same things
Scarlett : Yes, in this age of consumerism there is always the next new thing on the market that people HAVE to have - more and more things to buy
Comment by LaurenD
Great perspective, Manjula.
LaurenD
Comment by Manjula
Those were my guesses too....but NO - They live in acre plot in Elkhorn, Neb., just west of Omaha
So I'm still befuddled by them not being able to manage on $150,000
Comment by LaurenD
What the heck are they doing? Driving a pair of Humvees and eating sushi every night?
Wow.
LaurenD
Comment by Manjula
It sure seems that way, doesn;t it
Absolutely beyond comprehension
Comment by Cibbuano
Hunt Famous
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Fat Cult
Techbreak
I'd say an important thing is never let yourself get into debt... then you'll always feel the squeeze...
Comment by Lilla
From The Home Front
Enviro Warrior
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Esoteric Bookshop
*cripes* that's a lot of money to be broke on, isn't it?
In the changing fortunes of life I have been fabulously well to do and really down and out as life tossed me about and do you know... I prefer somewhere in the middle... I agree with all of the above... enough to pay the bills, and have a holiday every now and then... that's one good thing about blogging... no time to go shopping *lol*
Maybe they blow it on drugs... what else can soak up that much if you're at work all week (?)
Lilla...
Comment by Ashish
IT Business Analysis
I have started a forum on orble.
Check it out
http://www.itbusinessanalysis.net/discuss-it-business/
Comment by K.L. Almeroth
Motherhood
I wish I had this problem!!
Would be rather nice, actually...
K.L.
Comment by CarolineTigeress
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Did you hear the one about
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If I made even another two to three hundred a month, I'd be sitting fat and happy. As it is, I want for nothing, I have a good car, a pantry full of food, and the rent is paid until the end of the month. I guess I don't understand these people.
I have a co-worker like that. She *had* to have a two-hundred thousand dollar plus townhome and is also in debt from six years of college - yet she makes all of 50 thousand a year, and is high in credit card debt. She's always complaining about where her money goes and puts her credit card in the freezer so she doesn't spend as much.
Insane.
Comment by Manjula
Couldn't agree more with you . It IS hard to come back and $150K is much less than half a million
Also, agree with you on not getting into debt...But that's kinda hard to do for most folks who get out of college with tens of thousands in loans
Lilla:
LOL - I am too busy to go shopping and spend money too - makes my husband happy . Blogging is a cheap hobby
Ashish:
Thanks - I'll check out your forum
K.L. Almeroth - don't we all
Caroline - there are lots of people like your co-worker and the couple in my post unfortunately. They are making more money than they need and yet live from paycheck to paycheck . NOTE - I said NEED not WANT . Agree with you - Completely insane !
Comment by Arquero
Comment by Manjula
It's so great that you can support a family of 4 with 36,000 - you are obviously doing something right !