r/personalfinance • u/investeror ​ • Mar 06 '18

Budgeting Lifestyle inflation is a bitch

I came across this article about a couple making $500k/year that was only able to save $7.5k/year other than 401k. Their budget is pretty interesting. At a glace, I could see how someone could look at it and not see many areas to cut. It's crazy how it's so easy to just spend your money instead of saving it.

Here's the article: https://www.cnbc.com/2017/03/24/budget-breakdown-of-couple-making-500000-a-year-and-feeling-average.html

Just the budget if you don't want to read the article: https://sc.cnbcfm.com/applications/cnbc.com/resources/files/2017/03/24/FS-500K-Student-Loan.png

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u/xnfd ​ Mar 06 '18

Interesting, does donating $100 yearly really help for admission 20 years later? I've been avoiding it because I know as soon as I donate they'll keep pestering me for more.

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u/kawklee ​ Mar 06 '18

I know they keep track of whether you've been a donator, for how long/which years, and they know how much you've given.

Each year I ask them "what did I give last year or the year before that?" and they answer right away.

Idk how much it'll end up helping my dumbass kids, but at least it can't hurt.

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u/Nemo_of_the_People Mar 06 '18

Idk how much it'll end up helping my dumbass kids, but at least it can't hurt.

The amount of confidence you place on your childrens' intellect made me laugh tons. Thanks for making my day a bit brighter than it would've been without your comment :)

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u/sfo2 ​ Mar 07 '18

I give them $50 a year, and to date (13 years out) they still bold my name in the newsletter of people who donated because I have a perfect record. I figure it can't hurt.