Rent, eat out every day, spend money on toys, drive an expensive car and so forth. It is surprisingly common.
ne0phyte@feddit.org 1 day ago
What I don’t understand: He writes about 21 years of experience and having made 150k/year. Where is all that money? How can you make 150k and work for two decades and not have any savings/investments to stay afloat even if that means moving to a more remote and cheaper area?
MrMakabar@slrpnk.net 1 day ago
AA5B@lemmy.world 1 day ago
I don’t know, it just goes out faster than it comes in, no matter what you earn. I think it’s usually an accumulation of decisions, not a single poor choice.
However there’s also high cost of living areas. I’m sure $150k seems like a lot to most people, but around here it would be a struggle to buy even a starter home if that’s all you earned. And renting can easily be more per month than a mortgage so you’re never getting ahead
endeavor@sopuli.xyz 1 day ago
I make 25k a year which is huge for me. It took me 2 years of buying all the shit i wanted and then i started saving up and investing. My goal is to have 10k in savings every year, because who knows how long it’s gonna last.
Regrettable_incident@lemmy.world 23 hours ago
I make about the same and save less than you each year - but I can only do it because I live in a van. How do you keep your housing costs so low?
endeavor@sopuli.xyz 22 hours ago
I live with my nan
beejboytyson@lemmy.world 1 day ago
You don’t know enough rich people.
endeavor@sopuli.xyz 1 day ago
Faux rich. You don’t get rich by blowing all your money. Your well placed savings paired with reliable income make you rich. Nobody ever got rich by paying the bank all their money so the bank could own their fucking vw touareg with a lamborghini logo.
GreenKnight23@lemmy.world 1 day ago
I know several software devs who cannot save a dime and live paycheck to paycheck on around $2k a week.
$2,000. I used to get less than that a month at my first job.
just because you have to be smart doesn’t mean you’re brilliant. these devs failed to understand what budgeting was and would literally piss their paycheck away by eating out 3-4 times a day, bars, women, toys, etc.
I maxed out my 401k contributions every year. I saved half my check. I was able to save a lot, but recently I’ve been living paycheck to paycheck because everything is so damn expensive.
my point is, some of it is because of poor financial decisions. some of it is because COL is out of control. it’s hard to pass judgment on others when you don’t know their story.
aesthelete@lemmy.world 1 day ago
The wisest thing I did was save a lot of money in my 30s, and then buy and pay off a place to live. I always knew the 150k a year salary days were likely to end one way or another. Now I at least have a pretty controlled cost of living if I have to take a huge salary hit.
AA5B@lemmy.world 1 day ago
The widest thing I did was save a lot of money on my 20s and 30s. Arguably the stupidest thing I ever did was spend it all on the wedding my ex wanted
aesthelete@lemmy.world 12 hours ago
I got a real one. We made money on our wedding because the wedding and receptions were so cheap.