I would be satisfied if our household income was...

arcadian · 12-23-2007, 08:47 PM

I'm not asking about your ideal income, but the least amount of income you would be satisfied with.

After a few career setbacks I've found this number to get lower and lower. But I've been told that once I start my own family my expectations would go up again due to necessity.

NYC4ever · 12-23-2007, 09:27 PM

"satisfied" is not the same as "being able to live with". i wouldn't be satisfied below 100k

soupkitchen96 · 12-24-2007, 05:35 AM

I want a pretty big family so definitely six digits and up for me.

mydebtquest · 12-24-2007, 12:16 PM

I would be satisfied if our household income was consistently higher than our household expenses

As we live right now, we live on about $70k, which is enough to be comfortable but just a little short in the entertainment budget. If we zapped our debt payments, that same $70k is enough to live comfortably and still have money left over to splurge. BUT, if we got rid of the debt and wanted to supercharge our retirement savings, that $70k wouldn't be quite enough. AND, if we got rid of the debt, supercharged our retirement savings, and got a raise to $100k, I guarantee I could figure out how to spend the extra money and have nothing to show for it.

It doesn't matter how much we make - our lifestyle would just increase to absorb the extra earnings.

imagine girl · 12-24-2007, 09:26 PM

Quote:

our lifestyle would just increase to absorb the extra earnings.

I think everybody is like that. When I was a dirt poor student I would eat almost anything. Now when I have a slightly ok job, I start fussing over things like making sure almost everything I buy is organic. But if I lose my job (again) I'm sure non-organic food will magically become acceptable again.

Just out of curiosity, what kind of extra expenses do you think your family will cook up to consume the surplus?

kav122 · 12-26-2007, 09:38 AM

I could make do on a lot less, but I, too, would like a big family, so I think at least 6 figures.

mydebtquest · 12-27-2007, 04:31 AM

Quote:

Originally Posted by imagine girl

Just out of curiosity, what kind of extra expenses do you think your family will cook up to consume the surplus?

To be honest, I'm not sure. Of course, as our income increases over the coming years (at least I hope it does) I am going to increase automatic savings contributions, retirement contributions, etc., but I think with the increased income comes increased pressure to spend. The pressure is external (peer pressure) and internal (spouse pressure

) The question is, will I be able to resist it?

In the last five years, I moved from entry-level with my company through the ranks to Regional Manager. As I advanced in the company, the comments from peers and friends seem to increase - "you drive that? Come on - you're making the big bucks." Of course they're joking to some degree, but the underlying trend is there - you make more money, somehow you're expected to spend it.

Julie Rains · 12-27-2007, 04:40 AM

Quote:

Originally Posted by mydebtquest

As I advanced in the company, the comments from peers and friends seem to increase - "you drive that? Come on - you're making the big bucks." Of course they're joking to some degree, but the underlying trend is there - you make more money, somehow you're expected to spend it.

I'm glad you said that -- I drive a Toyota Corolla and I know many people think it's because I can't afford a van or SUV. The idea that I would want to save money on a car and gas just doesn't occur to them. You almost have to have a larger car with small children (car seats and space for kids and their friends in the back) but it still doesn't make sense that everyone has to drive a large, expensive vehicle.

Linsey Knerl · 12-27-2007, 09:58 AM

Surprisingly, as our family has grown, our income requirements have decreased. It think it is because we find it easier to stay home and rent a movie, take trips to the park, or just have a nice family-style dinner than to go out. Since our friends are now more frugal, we don't feel pressured to be more spendy with our social engagements. Overall, it's just easier.

Plus, the kids are getting old enough to pitch in with chores, making it easier to be self-sufficient in some areas (eggs, baking, gardening, etc.) As our goals have changed, it is no longer important to have nicer cars, new technology, or the latest styles. We are just fine with being healthy and passing our values on to our children. Simpler has been better, and easier, as our family has grown.

imagine girl · 12-28-2007, 03:45 AM

Quote:

Originally Posted by mydebtquest

In the last five years, I moved from entry-level with my company through the ranks to Regional Manager. As I advanced in the company, the comments from peers and friends seem to increase - "you drive that? Come on - you're making the big bucks." Of course they're joking to some degree, but the underlying trend is there - you make more money, somehow you're expected to spend it.

I hate that so much.

I really don't understand why my thrifty plans are any of my coworkers' business.

View Poll Results: I would be satisfied if our household income was....
$20,000 - $40,000	6	12.24%
$40,000 - $60,000	11	22.45%
$60,000 - $80,000	11	22.45%
$80,000 - $100,000	9	18.37%
$100,000 - $150,000	13	26.53%
$150,000 and up	21	42.86%
Multiple Choice Poll. Voters: 49. You may not vote on this poll

12-23-2007, 08:47 PM	#1
arcadian Member Join Date: Dec 2007 Posts: 36 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (11)	I would be satisfied if our household income was... I'm not asking about your ideal income, but the least amount of income you would be satisfied with. After a few career setbacks I've found this number to get lower and lower. But I've been told that once I start my own family my expectations would go up again due to necessity.

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12-23-2007, 09:27 PM	#2
NYC4ever Junior Member Join Date: Dec 2007 Posts: 14 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	"satisfied" is not the same as "being able to live with". i wouldn't be satisfied below 100k

12-24-2007, 05:35 AM	#3
soupkitchen96 Member Join Date: Dec 2007 Posts: 51 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (11)	I want a pretty big family so definitely six digits and up for me.

12-24-2007, 12:16 PM	#4
mydebtquest Junior Member Join Date: Dec 2007 Location: Clifton Park, NY Posts: 23 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	I would be satisfied if our household income was consistently higher than our household expenses As we live right now, we live on about $70k, which is enough to be comfortable but just a little short in the entertainment budget. If we zapped our debt payments, that same $70k is enough to live comfortably and still have money left over to splurge. BUT, if we got rid of the debt and wanted to supercharge our retirement savings, that $70k wouldn't be quite enough. AND, if we got rid of the debt, supercharged our retirement savings, and got a raise to $100k, I guarantee I could figure out how to spend the extra money and have nothing to show for it. It doesn't matter how much we make - our lifestyle would just increase to absorb the extra earnings.

12-26-2007, 09:38 AM	#6
kav122 Senior Member Join Date: Dec 2007 Location: Minneapolis, MN Posts: 526 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (243)	I could make do on a lot less, but I, too, would like a big family, so I think at least 6 figures.

12-27-2007, 09:58 AM	#9
Linsey Knerl Wise Bread Blogger Join Date: Jun 2007 Posts: 80 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (25)	Surprisingly, as our family has grown, our income requirements have decreased. It think it is because we find it easier to stay home and rent a movie, take trips to the park, or just have a nice family-style dinner than to go out. Since our friends are now more frugal, we don't feel pressured to be more spendy with our social engagements. Overall, it's just easier. Plus, the kids are getting old enough to pitch in with chores, making it easier to be self-sufficient in some areas (eggs, baking, gardening, etc.) As our goals have changed, it is no longer important to have nicer cars, new technology, or the latest styles. We are just fine with being healthy and passing our values on to our children. Simpler has been better, and easier, as our family has grown.