For starters, sometimes I'm shocked at how much we make! My household income has increased 10fold in the past 10 years.
People who see me shopping at Aldi or the thrift store would probably be shocked to know how large our household income is. People who see me out at the riding stable 5 days a week, or the therapist we pay out of pocket to the tune of a gazillion dollars a month, probably think we make more than we do. Indeed, the therapist has often asked why we don't get a housekeeper--because I'm sure he envisions us being in the income class where everyone can easily afford $300/mo to have someone come in and clean the house once a week. And we could--if we ditched the therapist and the riding hobby.
So by living below our means in areas that aren't as important to us, we're able to afford a lifestyle beyond our means in others.
Since my husband is in the military, his income is public record and pretty easily google-able. I would love to know what the median is in our community because, as others have mentioned, it is all relative to the cost-of-living in your location. I feel like we do pretty well with what we have but I know that we haven't saved as much as we should.
I don't think people would be surprised by what we make, which is a six figure + income in the middle of rural America, but they can never figure out why we always buy second-hand and drive the vehicles we do (3 paid for vehicles that all run really well...Toyota has 250,000+ miles and I've had it for over 13 years and still love driving it). We also do not have a cell phone plan which is very shocking to most people because my husband and I are both in the technology field. We make such decisions because we don't want to have any monthly payments going towards "stuff" that offers no return. On the other hand, we have a beautiful home on 40+ acres and have traveled extensively. By prioritizing what's most important to us, it makes saving so much more rewarding.
It's common knowledge that my husband and I live off of one income, so I know that people think we don't bring in a lot of money (which we don't). The thing that people would probably be surprised about is how little I spend on groceries. We shop primarily at Aldi, and I clip coupons like there's no tomorrow, so we're actually able to eat pretty well.
I don't think people are shocked at how much my hubby and I make since they know what we do for a living and there is a pretty set salary range for our jobs and age. I think a lot of people overestimate, though, but we are definitely not flashy with our stuff at all.
We have 4 boys and live in a very low income neighborhood. We moved there several years ago when things were tight. Our income changed dramatically in a very short time and now we'll be paying our house off in a few years. Nobody in our neighborhood has any idea we do as well as we do, but my family is always giving us grief about it. They have no room to talk though, they're all in debt up to their eyeballs.
We certainly do just fine.. but have incomes FAR less then our immediate peer group.
But what we do have, we choose carefully and frugally. Our retirements are maxed yearly.. but we don't have a big fancy TV.
We do go out to dinner.. but we always have a coupon or a gift card.
Our friends just know this about us.. but to other people it appears we are very much struggling.
But that's okay.. Our paid for cars and little non-house debt go a long way to freeing our cash flow up.. so we always have plenty of money and still can contribute to savings.
As I retired at a very early age, many of my friends and family have no idea of what my present income is, and its certainly no where near what I brought in when I was actively employeed. (BTW - I just Love, Love, Love being retired)
I still make gifts for most occassions, and I still don't spend a lot on groceries - I'm basically too lazy to cook much.
I still manage to do some traveling throughout the year as I have now for many years.
My hobbies haven't suffered any. The only obvious reduction is eating out - which I used to do a whole lot. Now, I'm pretty much down to once a week .... sad ;-(
I think some of my friends would be shocked (those in debt) but not the friends who are in similar career paths to myself and my husband, who are also frugally minded.
They might be shocked by how little I make though. I'm not shocked, just wish it was more. That's what you get for doing non-profit work though.
I think it would be interesting to take an anonymous poll to see what people do think we make.
Acquaintances who haven't seen our house would be surprised. We live frugally, drive sensible cars, eschew designer brands, and feel some pressure from family to upgrade our furniture to match our incomes.
over the last few years we have owned our own profitable business, sold that, been unemployed, and now both have good jobs....so i'm sure we've been keeping people guessing!
but, like my dad used to tell me as a kid, "You wouldn't care what people thought about you if you knew how seldom they did" :) Good advice
I saw a video, think it was on UTube. A couple could not figure out why their water bill was so horrible, until the man stayed home sick from work one day. He caught their cat repeatedly flushing the toilet and watching the water drain.
If you turn the envelope inside out that works. Carefully slit it open along the glued area (without cutting the paper) and reglue it inside out. You just have to glue the flap onto the inside instead. Cardboard boxes work well inside out as well. Especially useful if you need a size you don't have on hand.
As Paul said, these were not his suggestions. So keep the useful and toss the unethical or weird.
My husband and I live on $900.00 a month and we live quite nicely. Besides using all available saving methods we also barter with friends and neighbors which is a big help to the pocketbook. Most folks would be really surprized how little we can exist on.
I really enjoy studying personal finance and talk about it religiously. Given that, I'd assume people would expect me to be extremely frugal. I drive a nicer car and live in a larger house than I would if I were single and without a child (safe, reliable car). I am a sucker for spoiling my daughter while she's still little (playset, toys, activities, etc.). Personally, I'm very frugal, but when you add in the adjustments I've made to accomodate my wife and daughter, I'm pretty middle of the road and could do a lot more to save a lot more.
I think others would be surprised by how little I make. I have a career that sounds prestigious and work for a large, well thought of company, but the pay is less than many of my peers at similar companies. Given that, others may be surprised at how little I have in the bank as a nominal sum, although it represents a steady 20% of my income since I began my career 10 years ago.
these "nuggets" of wisdom just made my day. i'm forwarding this list on to friends and co-workers right now... and hoping that they will have the same amazed-or-horrified look on their faces when they read them.
Those are great tips! Something else I've learned that has really helped when I was trying to save money is switching to a prepaid cell phone plan. It's a growing field. Especially with companies such as TracFone pairing with Virizon Mobile to create the Straight Talk plan. The plan includes unlimited talk, unlimited text, and 30MB of data for $45/month. It's a great deal on the most reliable network!
With the exception of the "Spend less than you earn" tip, almost every single one of these struck me as unethical, illegal, or just plain smarmy.
The most memorable, usable exception to my above statement is #26. Although the water heater in our apt. takes so long to put out warm water that we'd need more than a single pitcher some days, this is actually an awesome way to reduce your water bill and help the environment. I'd never thought about doing it before, but I will start using it. (And maybe it'll help me remember to actually water my plants.....)
Yes, people would be shocked. :) We've found that it's easier to live a "poor" life and let people make their assumptions than to explain why we don't have cable TV or cell phones. Our values don't really line up with our generation's values - and so a lot of people assume we're struggling. In reality, we're saving 20-30% of our income each month and hope to semi-retire at 45 or 50.
I think they would be shocked to see what I make compared to how broke we are echoing a lot of the readers sentiments. That's indeed why we are clawing our way out of the debt trap. I'm now targetting the millionaire next door approach of living well below my means and giving up my penchant for purchasing new cars. Oh how I do love that smell.
At age 20-23 made 35k after taxes/retirement, I spent recklessly at the mall. I was a shopaholic but my credit card debts never amounted to more than 800 which I always paid on time and in full. I had about 1000 in savings but it never amounted to more than that. I also lived at my parent's house. I easily blew 100.00 on an outfit 3x a week. I still never had debt. I'm now 28 years old, make around 45k after taxes/retirement. I have no savings. I live pay check to paycheck and have nothing to show for it. My live in boyfriend and I rent a rancher in a ghetto neighborhood for 800 a month so we split it 50/50. I constantly find myself in a rut: Dad loses his job it's been 2 yrs now still no job, I had to supplement, his 20 yr old AC unit had to be completely replaced, guess who had to supplement that, then my car tires blew up, car repairs cost over 1200 then finally I had to buy a new car. Insurance went up because I'm off my parent's insurance. I no longer buy new clothes instead we eat out more than I am used to. I still have less than 1000 in savings. That is why I'm always reading blogs about finances and frugality. I feel like my situation now is worse than it was when I made less. Atleast back then I had clothes to show for it. I wish I could be a kid and lived at home sometimes. It sucks being an adult. We're trying to sock away money to buy a foreclosure property so we can stop wasting money on rent.
I love this blog
We do live fairly modestly for our income. Our mortgage payment is about 1/6 of our monthly income, and we live well within our means. But I think people would be shocked to know our income because they don't realize how much I make as a freelance writer. We don't spread the information around, and just try to live mostly incognito.
For starters, sometimes I'm shocked at how much we make! My household income has increased 10fold in the past 10 years.
People who see me shopping at Aldi or the thrift store would probably be shocked to know how large our household income is. People who see me out at the riding stable 5 days a week, or the therapist we pay out of pocket to the tune of a gazillion dollars a month, probably think we make more than we do. Indeed, the therapist has often asked why we don't get a housekeeper--because I'm sure he envisions us being in the income class where everyone can easily afford $300/mo to have someone come in and clean the house once a week. And we could--if we ditched the therapist and the riding hobby.
So by living below our means in areas that aren't as important to us, we're able to afford a lifestyle beyond our means in others.
Since my husband is in the military, his income is public record and pretty easily google-able. I would love to know what the median is in our community because, as others have mentioned, it is all relative to the cost-of-living in your location. I feel like we do pretty well with what we have but I know that we haven't saved as much as we should.
What an interesting question.
I think they would be shocked to find that we are actually able to live as well as we do on what we bring in.
These are the worst, stupidest tips I have ever read. If it was April 1 I would understand why they were thought worthy of sharing.
Any more half-baked crap like this, and I'll be unsubscribing.
I don't think people would be surprised by what we make, which is a six figure + income in the middle of rural America, but they can never figure out why we always buy second-hand and drive the vehicles we do (3 paid for vehicles that all run really well...Toyota has 250,000+ miles and I've had it for over 13 years and still love driving it). We also do not have a cell phone plan which is very shocking to most people because my husband and I are both in the technology field. We make such decisions because we don't want to have any monthly payments going towards "stuff" that offers no return. On the other hand, we have a beautiful home on 40+ acres and have traveled extensively. By prioritizing what's most important to us, it makes saving so much more rewarding.
It's common knowledge that my husband and I live off of one income, so I know that people think we don't bring in a lot of money (which we don't). The thing that people would probably be surprised about is how little I spend on groceries. We shop primarily at Aldi, and I clip coupons like there's no tomorrow, so we're actually able to eat pretty well.
I don't think people are shocked at how much my hubby and I make since they know what we do for a living and there is a pretty set salary range for our jobs and age. I think a lot of people overestimate, though, but we are definitely not flashy with our stuff at all.
We have 4 boys and live in a very low income neighborhood. We moved there several years ago when things were tight. Our income changed dramatically in a very short time and now we'll be paying our house off in a few years. Nobody in our neighborhood has any idea we do as well as we do, but my family is always giving us grief about it. They have no room to talk though, they're all in debt up to their eyeballs.
We certainly do just fine.. but have incomes FAR less then our immediate peer group.
But what we do have, we choose carefully and frugally. Our retirements are maxed yearly.. but we don't have a big fancy TV.
We do go out to dinner.. but we always have a coupon or a gift card.
Our friends just know this about us.. but to other people it appears we are very much struggling.
But that's okay.. Our paid for cars and little non-house debt go a long way to freeing our cash flow up.. so we always have plenty of money and still can contribute to savings.
As I retired at a very early age, many of my friends and family have no idea of what my present income is, and its certainly no where near what I brought in when I was actively employeed. (BTW - I just Love, Love, Love being retired)
I still make gifts for most occassions, and I still don't spend a lot on groceries - I'm basically too lazy to cook much.
I still manage to do some traveling throughout the year as I have now for many years.
My hobbies haven't suffered any. The only obvious reduction is eating out - which I used to do a whole lot. Now, I'm pretty much down to once a week .... sad ;-(
So. No. Don't think anyone has a clue.
I think some of my friends would be shocked (those in debt) but not the friends who are in similar career paths to myself and my husband, who are also frugally minded.
They might be shocked by how little I make though. I'm not shocked, just wish it was more. That's what you get for doing non-profit work though.
I think it would be interesting to take an anonymous poll to see what people do think we make.
Acquaintances who haven't seen our house would be surprised. We live frugally, drive sensible cars, eschew designer brands, and feel some pressure from family to upgrade our furniture to match our incomes.
over the last few years we have owned our own profitable business, sold that, been unemployed, and now both have good jobs....so i'm sure we've been keeping people guessing!
but, like my dad used to tell me as a kid, "You wouldn't care what people thought about you if you knew how seldom they did" :) Good advice
I saw a video, think it was on UTube. A couple could not figure out why their water bill was so horrible, until the man stayed home sick from work one day. He caught their cat repeatedly flushing the toilet and watching the water drain.
If you turn the envelope inside out that works. Carefully slit it open along the glued area (without cutting the paper) and reglue it inside out. You just have to glue the flap onto the inside instead. Cardboard boxes work well inside out as well. Especially useful if you need a size you don't have on hand.
As Paul said, these were not his suggestions. So keep the useful and toss the unethical or weird.
My husband and I live on $900.00 a month and we live quite nicely. Besides using all available saving methods we also barter with friends and neighbors which is a big help to the pocketbook. Most folks would be really surprized how little we can exist on.
I really enjoy studying personal finance and talk about it religiously. Given that, I'd assume people would expect me to be extremely frugal. I drive a nicer car and live in a larger house than I would if I were single and without a child (safe, reliable car). I am a sucker for spoiling my daughter while she's still little (playset, toys, activities, etc.). Personally, I'm very frugal, but when you add in the adjustments I've made to accomodate my wife and daughter, I'm pretty middle of the road and could do a lot more to save a lot more.
I think others would be surprised by how little I make. I have a career that sounds prestigious and work for a large, well thought of company, but the pay is less than many of my peers at similar companies. Given that, others may be surprised at how little I have in the bank as a nominal sum, although it represents a steady 20% of my income since I began my career 10 years ago.
these "nuggets" of wisdom just made my day. i'm forwarding this list on to friends and co-workers right now... and hoping that they will have the same amazed-or-horrified look on their faces when they read them.
Those are great tips! Something else I've learned that has really helped when I was trying to save money is switching to a prepaid cell phone plan. It's a growing field. Especially with companies such as TracFone pairing with Virizon Mobile to create the Straight Talk plan. The plan includes unlimited talk, unlimited text, and 30MB of data for $45/month. It's a great deal on the most reliable network!
With the exception of the "Spend less than you earn" tip, almost every single one of these struck me as unethical, illegal, or just plain smarmy.
The most memorable, usable exception to my above statement is #26. Although the water heater in our apt. takes so long to put out warm water that we'd need more than a single pitcher some days, this is actually an awesome way to reduce your water bill and help the environment. I'd never thought about doing it before, but I will start using it. (And maybe it'll help me remember to actually water my plants.....)
I don't think people would be shocked. My husband makes a decent paycheck but with 4 kids even middle income can be tricky.
Yes, people would be shocked. :) We've found that it's easier to live a "poor" life and let people make their assumptions than to explain why we don't have cable TV or cell phones. Our values don't really line up with our generation's values - and so a lot of people assume we're struggling. In reality, we're saving 20-30% of our income each month and hope to semi-retire at 45 or 50.
I think they would be shocked to see what I make compared to how broke we are echoing a lot of the readers sentiments. That's indeed why we are clawing our way out of the debt trap. I'm now targetting the millionaire next door approach of living well below my means and giving up my penchant for purchasing new cars. Oh how I do love that smell.
At age 20-23 made 35k after taxes/retirement, I spent recklessly at the mall. I was a shopaholic but my credit card debts never amounted to more than 800 which I always paid on time and in full. I had about 1000 in savings but it never amounted to more than that. I also lived at my parent's house. I easily blew 100.00 on an outfit 3x a week. I still never had debt. I'm now 28 years old, make around 45k after taxes/retirement. I have no savings. I live pay check to paycheck and have nothing to show for it. My live in boyfriend and I rent a rancher in a ghetto neighborhood for 800 a month so we split it 50/50. I constantly find myself in a rut: Dad loses his job it's been 2 yrs now still no job, I had to supplement, his 20 yr old AC unit had to be completely replaced, guess who had to supplement that, then my car tires blew up, car repairs cost over 1200 then finally I had to buy a new car. Insurance went up because I'm off my parent's insurance. I no longer buy new clothes instead we eat out more than I am used to. I still have less than 1000 in savings. That is why I'm always reading blogs about finances and frugality. I feel like my situation now is worse than it was when I made less. Atleast back then I had clothes to show for it. I wish I could be a kid and lived at home sometimes. It sucks being an adult. We're trying to sock away money to buy a foreclosure property so we can stop wasting money on rent.
I love this blog
In some ways we probably look (on paper) like we make more than we do, but in others probably less.
We do live fairly modestly for our income. Our mortgage payment is about 1/6 of our monthly income, and we live well within our means. But I think people would be shocked to know our income because they don't realize how much I make as a freelance writer. We don't spread the information around, and just try to live mostly incognito.