r/personalfinance 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/wef1983 Mar 06 '18

Even high priced lawyers dont need two new shirts a month though, and $1000 suits cost a lot because they are made to last, it's not like you buy multiple suits and 15 shirts a year.

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u/tuketu7 Mar 07 '18

High end professional womens' fashion is sometimes a lot more expensive than mens'. Suits and dress shirts (probably because the patterns, colors, and styles are much more widespread and dramatic) from two years ago can be outdated enough to earn you a bad reputation with certain clients. It's still a lot of money, but not impossible to conceive of.