We had our first budget meeting last night

**Jamauk** · 07-24-2008, 11:47 AM

In preparation of our debt snowball starting in Sept, we had our first budget meeting (for the month of Aug) last night.

I was going to post it here for accountability, but DH makes 6 figures. I was reading Greebo's tax thread and after seeing all of the horrible remarks about "wealthy" people (and not just those that make over $323K) I'm afraid to.

It seems that a lot of people think that if they made 6 figures all of their troubles would be gone. We are just as concerned about money as the next person and I'm sad that I don't feel comfortable here posting our budget. Being frugal isn't just for those in the lowest tax brackets.

We have never been big spenders, and our debt isn't typical "consumer debt" (ie stuff)....its car payments, multiple mortgages for multiple properties, HELOC for downpayments, etc....but its debt and we want it to go away.

I wish I wouldn't feel judged.

**freebs** · 07-24-2008, 11:54 AM

**Izzy0906** · 07-24-2008, 12:27 PM

I'm really sorry people made you feel like that. I completey avoided the thread because though I don't make 6 figures, most of my family members do (sister, BIL, father etc..) I didn't want to end up feeling the way you do. I would love to hear about the budget meeting but understand. I just wanted to say good luck! I start my own debt battle next month (august). My first step is to save $100/month (I'm a single mom with only my income so had to start small) for the next 5 months to have $500 in a mini EF.

**Jamauk** · 07-24-2008, 12:31 PM

Originally Posted by Izzy0906

I'm really sorry people made you feel like that. I completey avoided the thread because though I don't make 6 figures, most of my family members do (sister, BIL, father etc..) I didn't want to end up feeling the way you do. I would love to hear about the budget meeting but understand. I just wanted to say good luck! I start my own debt battle next month (august). My first step is to save $100/month (I'm a single mom with only my income so had to start small) for the next 5 months to have $500 in a mini EF.

Thanks. This is my total point. It doesn't matter how big or small you start ~ what matters is that you are starting!

It shouldn't matter why you are in debt and what you bought with it. What matters is that you are trying to get out from under it. It shouldn't matter what your goals are and what you want to ultimately do with your aquired wealth (as relative as it is), what matters is that you work hard and make your money work for you. Good Luck on your snowball!

**suzysaver** · 07-24-2008, 12:41 PM

It really doesn't matter the fact is you have debt just like the rest of us.
Sometimes I think the people who make a lot of money are the ones that are least aware of how much debt they have racked up. Good for you, for coming to terms with it and wanting that monkey off your back.

**MomToTwoBoys** · 07-24-2008, 12:45 PM

I wanted to apologize if anything I said in that other thread offended you. I totally don't mean to offend anyone here. This forum community is like a third family to me (I have a ton of families). We're all here for one common goal: to be more frugal. If you guys are trying to accomplish something that everyone else is, there's no reason you should feel singled out.

Everyone comes from different backgrounds and with those different backgrounds comes different experiences.

My FIL made almost 100k a year and I couldn't believe it until I saw what he did for a living. I just about fell on my butt at that point. He was a senior cost analyst for TransCanada, which is one of the biggest companies in Canada as far as natural gas and oil pipelines are concerned. I come from a family background where making minimum wage and having two incomes in a house is the norm. DH and I make three times more than what my mom would pull in by herself and that was with working two jobs.

I hope your family's meeting went well and that you guys got set on what you had hoped to accomplish.

**Jamauk** · 07-24-2008, 12:46 PM

Originally Posted by suzysaver

It really doesn't matter the fact is you have debt just like the rest of us.
Sometimes I think the people who make a lot of money are the ones that are least aware of how much debt they have racked up. Good for you, for coming to terms with it and wanting that monkey off your back.

That's so funny that you said that. DH and I were just talking last night about how we always considered ourselves debt free because we don't have a cc balance.

He would look at the guys that he flies with that are sending half their paychecks to the cc companys and always thought "wow, that would suck to 'work for those companies' (as DR puts it)). It dawned on him the other day that he IS that guy!

Just because we don't have "stuff" we thought we didn't have debt. Since reading/listening to Dave Ramsey ~ we're realized that we are in debt up to our eyeballs!

**savvymom** · 07-24-2008, 01:47 PM

We are starting our budget plan next month (Aug) and we will be working toward catching up bills, not debt, not any of that, but the typical bills. It may end up taking a few months just to get that done, but the more I'm here I remember I have to use the BABY STEPS! lol Something so simple, but yet so easy for ME to forget.

A paycheck is a paycheck, and debt is debt. It all comes out in the wash, I can speak for myself to say that I wouldn't look at you differently than I do now no matter what your budget is. I'm just excited to know others are going through the same process as me, even if we are going at a different pace.

I'm proud of all of us that can stand up and admit we have not been doing our money right, and are changing that NOW!

If you ever wanna chat feel free to PM me! :hugs:

**Greebo** · 07-24-2008, 02:08 PM

Aw gowann, Jama - post it. I did.

We "high income" kithers gotta stick together!

I got your back, sis!

**Ceashels** · 07-24-2008, 02:16 PM

I am in agreement with your feelings. I was very surprised when DH posted his accountability thread. It is not something I would have done because of the judging that comes across in peoples posts about "rich people." OK, so maybe it is true and I do plan to steal from "poor people" to line my coffers with gold and jewels, would the "poor people please line up and if you are judgmental and poor please move to the head of the line." Oh look, there's a baby, maybe I'll roast it and have lunch too. Hey the baby is poor so all the better!

I am from a blue collar family, my father worked union, we lived with second hand items and made do or made without. I have lived paycheck to paycheck from stupid mistakes and have paid lots of stupid tax in my years. I don't appreciate being lumped into a stereotypical group by people who do not know me, who have not eaten at my table but who somehow justify their negativity towards their situation by putting it on someone else, making someone else responsible for their situation.

thank you for reading this far,
rant off.

I am more interested in how the communcication went between you and your husband. Greebo and I have set Monday evenings as our budget date night so we know not to plan anything else. By the time hand bell choir starts up we will probably only need 30 mins or so to hash everything out as the budget will have fewer dings in it. Last Saturday (we took off from apartment DIY) and ended up having a budget summit! It was great. We organized a lot of things and ironed out alot of the dings. I actually enjoy seeing him so nerdy with his Quicken and spreadsheets so watching him in action like that reaffirms my choice in him as my husband.

**savvymom** · 07-24-2008, 03:05 PM

That's a beautiful post Ceashels!

**frugalandsimple** · 07-24-2008, 03:09 PM

Hope everything works out smoothly

**Mom23boys** · 07-24-2008, 03:33 PM

I am sorry you feel the way you do about posting your income, but I don't blame you. It is hard to put all your flaws out so everyone can see them. I do believe that 6 figure income families have debt just like lower income families. Six figures, five figures, it doesn't matter how many figures, we all want something that is going to put us in debt be it a home, a car, or even a tv. We all fall prey to that evil word debt. Hopefully, with all the encouragement we receive from family, friends, and the Village goers, we will all be debt free soon!!

I thank you are on the right track to being debt free. You and your DH are in agreement on knocking out your debt and that is a big plus!! Good luck to you both!

**yankeegal** · 07-24-2008, 03:54 PM

Originally Posted by Jamauk

In preparation of our debt snowball starting in Sept, we had our first budget meeting (for the month of Aug) last night.

I was going to post it here for accountability, but DH makes 6 figures. I was reading Greebo's tax thread and after seeing all of the horrible remarks about "wealthy" people (and not just those that make over $323K) I'm afraid to.

It seems that a lot of people think that if they made 6 figures all of their troubles would be gone. We are just as concerned about money as the next person and I'm sad that I don't feel comfortable here posting our budget. Being frugal isn't just for those in the lowest tax brackets.

We have never been big spenders, and our debt isn't typical "consumer debt" (ie stuff)....its car payments, multiple mortgages for multiple properties, HELOC for downpayments, etc....but its debt and we want it to go away.

I wish I wouldn't feel judged.

This makes me really sad! That thread doesn't/shouldn't represent what this board is about. You should feel proud for all of your successes and be able to ask for advice without being judged on the size of your income. I think you bring a fresh prospective on the issue of "anyone" being able to get out of debt-so please continue to share.

**nuisance26** · 07-24-2008, 04:08 PM

~Well, even without ugly remarks, income disparity is a touchy subject. But FV is for ALL income brackets and financial goals! Post away. We are all trying to be frugal and good stewards of our money regardless of how much we bring in.~