High Income Kith

**Redsoxmama** · 04-16-2007, 02:17 AM

I think that it took us a lot of blood, sweat and tears to get to this point in our lives and with all of our student loans etc...we learned to live frugally. I want my children to appreciate what we gave them through hard work and education. We had very lean days early on in our 20's and 30's. Now we in our early 50's and are finally getting comfortable but it took YEARS to get to that point. Like I said though, our $100,000 is akin to someone making half of that in another area of the country. On paper it looks good but in reality it is very expensive to live here.
As a matter of fact our state's minimum wage is $7.50 an hour and will soon be $8.00 in order to be equal in buying power to the federal minimum wage of $5.15 an hour. So basically what we pay $8.00 for other parts of the country pay $5.15 for. It all evens out I guess.
I can definitely relate to lower income families as DH and I both came from modest means.

**julieb** · 04-16-2007, 06:37 AM

What a fantastic thread. I worked at a higher paying job and walked away from it due to conflict in the workplace. Thank god I was frugal, and had saved for a rainy day. I survived on savings and taking any job I could.

I like living frugally. I like know that I am not leading a wasteful life. It has become almost a spiritual thing for me. I am making the most of what god has given me. In doing this I am allowed to give back, with time and money. It's funny, I give more money to charity now at a lower income and despite my cc debt.

If I ever get back to my previous income level. I will still live frugally. Somehow it is freeing to know I can live on very little.

**Ceashels** · 04-16-2007, 08:17 AM

Originally Posted by jamie79

I applaud all of you for your abilities to make this kind of income and to live frugally but my question to you is how can you relate to someone making a low income and harldy making it?

Many of us have been "poor" or "down on our luck" at some point or another in our lives. I have lived several times in the paycheck to paycheck situation with morgtage, debt, and assorted legal fees costing me most of my income when the 'ex' left for Vegas. I found my that my frugal upbringing allowed me to continue eating and commuting to work.

I think all of us on this site can relate in some way to anyone wanting to make their dollar stretch, to make good wholesome dinners without spending lots of money, and wanting to save as much as possible for their future. The variety of backgrounds that are encompassed here don't separate us but give us the vast experiences in life that we can learn from. We are a living 'how to' library with a wealth of information.

OMG! sometimes when I read what I write... I just want to get out the syrup! LOL

**Grayce** · 04-16-2007, 10:22 AM

I have been really, really poor. When I first got married we lived in low income housing, me and DH worked in fast food restaurants while we went through college (we also had a baby). Although I am making more money now I can relate to people having very low incomes. Also since we are in debt we are trying to live in a much lower income in order to pay off the debt and we also add to our savings every month which further reduces our income.

**Jayne** · 04-16-2007, 01:16 PM

I have lived at both ends of the spectrum...My first husband was in the Air Force and we lived in base housing and had very little income...I was very organised with what money we had and we did okay..Our girls had nice clothes(thrift store and my parents helped )..I was a sahm....the marriage ended not because of finances but infidelity on his part
When I married my current dh, we struggled big time...but I was able to keep things going due to my frugality skills I learned during my first marriage....Currently dh makes close to 90,000 ayear and we are in the worst financial shape ever in our life....some where as the income got higher, we spent and borrowed more and more, and we both felt that we had suffered so long that we were entitled to spend , spend ,spend....I guess what I am getting at is , it doesn't really matter how much you make, it matters how wise you are with your money...That is why I come to these frugal sites, to try and find that frugal girl I once was...sorry if I went down a rabbit trail

**annymoll** · 04-16-2007, 11:20 PM

Originally Posted by jamie79

I applaud all of you for your abilities to make this kind of income and to live frugally but my question to you is how can you relate to someone making a low income and harldy making it?

I am learning so much, especially from people who are making it on very little. Every time I go into the store and spend, I think of Tracy ,and I try so hard to spend 75 dollars for the month. ( This is going to take awhile, if ever.)When my mother is acting like Marie Romano I think about Frugal Witch- taking care of two households without complaint on very little income.I think of how proud I was when I did what Deb said and watched the sales and combined a coupon and got great TP for pennies. How I learned that you don't have to use a full capful of laundry soap, and that it costs money to flush the stool.(You don't learn that at the country Club dolls)I always look for experience when I am learning. If you live on very little, you learn how to do it well.

**annymoll** · 04-16-2007, 11:31 PM

Originally Posted by annymoll

I am learning so much, especially from people who are making it on very little. Every time I go into the store and spend, I think of Tracy ,and I try so hard to spend 75 dollars for the month. ( This is going to take awhile, if ever.)When my mother is acting like Marie Romano I think about Frugal Witch- taking care of two households without complaint on very little income.I think of how proud I was when I did what Deb said and watched the sales and combined a coupon and got great TP for pennies. How I learned that you don't have to use a full capful of laundry soap, and that it costs money to flush the stool.(You don't learn that at the country Club dolls)I always look for experience when I am learning. If you live on very little, you learn how to do it well.

Whoops, sorry , mom acts like Marie Barone!! Oh yes, and now you know!

**pammy** · 06-11-2007, 05:25 PM

Just saw this, guess we're here, too. Dh's income gets us here on the lower end, but my part-time income gets us over the six figure mark. This didn't really happen until recently, and after we decided to get rid of the debt. It's like we're being blessed for trying to do better with our finances, kwim? Weird.

Plus, we're fortunate enough to be living in a low COL area. BUT.... It's like before, we were payment'ed up the wazoo, we really didn't have any fear of being so close to the edge, even though we didn't even know we were. But now, now it's like we've gotten rid of all the debt except the house, we're still living way below our means (like living on 30%), trying to build up a bigger savings fund, putting money away for retirement, putting money aside for dd's college, and start working on paying off the house. Although things are going really good right now I have this horrible fear. It's like we've stepped a few steps back from the edge and now it scares me to death to get close to it again. I now know just how close to the edge we were and it's like a mad dash to get as much distance from us and the edge as possible.

Things are good now, sure. And yeah, we do get teased for not spending as 'they' think we should. But yet we still continue to shop the sales, wear the same clothing over and over, cook at home, budget, and drive our older paid-for cars. I'm hoping we always continue our frugal ways, no matter the income.

**bluebird728** · 06-14-2007, 01:14 AM

I guess I fit in here too. I work in the computer industry and am over 80k plus social security for my kids. Husband passed away earlier this year and during his long illness he spent like crazy. I hated the financially out of control feeling that I lived with for years. I'm actually quite happy to be returning to a simpler, more frugal lifestyle.

I think at a certain point frugality changes from being a necessity to being a good steward of the blessings one has been given. An example I have is my favorite aunt. She was blessed to become a computer industry millionare. Her family lives well and enjoys many of the finer things, but they still take turns for major expendatures, cars are sensible and expected to last 10 years, and they invest wisely. They as a family haven't let the money change who they are and still keep the same fundamental values.

**nancycg56** · 06-27-2007, 02:14 PM

I fit in here, too. My DH retired from the military so he has that pension and he is now a defense contractor and makes very good money. I don't work at the moment and doubt if I will again.

It's really weird to me to have money ~ I am still used to only having his military pay which is nothing to write home about. We do have to save alot because he works on contracts which only go from year to year so he could be without a job at the end of the contract ~ which has happened twice so far. Right now, he is funded through next April ~ hopefully they will fund him for the year after that but there is no guarantee.

My job is like so many of you others ~ to spend wisely. I think that is something that regardless of how much money you have, we all try to do. I can learn from everyone no matter what. Yes, at this point, we can afford to do more but that doesn't mean we do or should.

**cab54** · 07-12-2007, 11:10 PM

Comfy here, too.

dh is self employed and it did well. We have almost put our two sons through college, and for awhile when things got easier (more $$) we had a minor free-for-all.

Then we went

and realized that money wasn't what makes ya happy. I realized personally that I felt sort of off balanced when trying to be 'all that' and HAVE all that. I thrive on simplicity and the simple pleasures in life. dh still likes a little 'splurge' once in awhile. But hey, he has worked hard for it. Me, I just can't bring myself to care about 'stuff.' Outside of being able to educate our kids, I would rather save it or be philanthropic with it. dh too.

So, I choose to be thrifty and simple.

**babymakes5** · 07-30-2007, 09:37 PM

We make right at $78,000. We definately don't consider ourselve high income. I am a teacher, dh is an electronics technician going to school to be a teacher. When I think of high income I thing of high figure numbers. I am flattered.

**GFNancy** · 08-07-2007, 11:37 PM

We're in this kith too. My husband works as an IT manager (IT background, not management) in the mortgage industry.

Right now, the industry is in a mess. His company should be able to get through it fine, but some companies went under in the matter of a couple of days. We've seen other mortgage companies do the same thing at different times, sometimes just because of bad business choices that caught up with them. Monday everything is fine, and by Friday, nobody has a job and the company is just gone. Poof!

The interesting thing is that the reason his company should be able to get through this is that the owner of the company is very frugal with his money. But even with all of that, it was just luck and the grace of God that the company didn't go under last week.

These last couple of weeks have been a wake-up call for me for sure. We don't even have enough money in savings to make two mortgage payments, let alone anything else.

It's been gnawing at me for a long time now that I need to be a better steward of the money my husband works so hard to make, but I keep putting it off until after the next birthday or the next paycheck or the next ??? . But I've really just got to do it. Because even though this time it looks like things are going to be fine, who knows if we might get hit the next time. The mortgage industry is like the stock market. It can get out-of-control high and out-of-control low. If you don't plan for the low, then you're sunk.

So that's why I'm here. There's no reason at all I can't do this. If I had just been doing what I should have been doing all along, we would have had six months of living expenses saved easily and these last couple of weeks wouldn't have been such a panic attack.

Nancy

**redhead68** · 08-17-2007, 08:06 PM

Originally Posted by i.m.cheap

I was reading this thread and wondering what types of jobs provide this kind of income? The most we have ever made is $52,000 a year, when we both were working full-time.

My spouse is a computer architect, plus we have income-generating investments.

**changed4life** · 08-28-2007, 08:16 PM

My husband is the sole earner and makes over $100K too. I just came from visiting the low income kith and I have to say I feel blessed to have read through the whole thread. There is so much to learn from them; actually there's so much to learn from everyone at this site no matter what anyone's personal situation is.

Now, I'm struck with a feeling of melancholy and a slight guilt for making some of the choices I've made. We get by fine and are very blessed, but I wonder if I should have done without even though we can afford it?

I just refinanced for a 30-yr mortgage for a slightly lower rate and took cash out to add an addition to the house. Now I have a sick feeling in my stomach. Does being frugal mean that you shouldn't improve your living conditions and that you should chose not to improve? I didn't NEED the extra space per se, just wanted to make the house more comfortable with extra space for family gatherings and our children's friends.

I will be fully funded with a $10-15G emergency fund by spring and have a well stocked retirement fund. College costs are being saved for monthy. Does a frugal mindset mean I should have buried the idea of adding on and stocked that money away instead. I'm confused.

I just joined a few days ago and and really hooked. I want an attitude of waste not want not. I went back to old debit card statements and saw where I was frivilous and am consciously changing that big time. I figure I can find at least 200 or so bucks per month with adjusting my spending habits. Thank goodness we have no credit card debt. I plan to keep it that way.