4 Men with 4 Very Different Incomes Open Up About the Lives They Can Afford

[K1052]

Isnt that where they give you free pizza?

Maybe...

 

[mvbighead]

You said that eating out is basically a waste of money for something you could do better at home for less. You never qualified that position in the way you're now representing.

By and large it is. Especially when you can make it better yourself. For those things you can't do better yourself, eating out may be worth it.

Hell, even going out for quality Indian food is more in the category of want and less in the category of need. I don't need properly prepared Indian food, but I want it occasionally and will splurge when it suits the family.

I suggested up front that we occasionally eat out. One of the reasons we do that is for authentic tasting meals we're not as good at preparing.

 

[Svnla]

He has 15 credit cards, holy shitsnacks

As long as he does NOT have to pay any annual fee or carry balance or pay interest, it is all good.

Credit cards can be beneficial (by cash back, miles, points, etc.) for your financial health "IF" you are discipline (pay on time ALL the time and not overspend).

 

[thesmokingman]

Two assholes in real estate at the top, not surprised.

That's what I was thinking too.

 

[K1052]

By and large it is.

To NS1's point...that's a matter of where you are going.

For those things you can't do better yourself, eating out may be worth it.

That wasn't so hard. Since few of us here are pro chefs that covers a lot of culinary ground.

Hell, even going out for quality Indian food is more in the category of want and less in the category of need. I don't need properly prepared Indian food, but I want it occasionally and will splurge when it suits the family.

Lots of things can be categorized as "wants" but assuming you, easily, have the financial resources to indulge them I'm not sure what the point of this argument is.

I suggested up front that we occasionally eat out. One of the reasons we do that is for authentic tasting meals we're not as good at preparing.

But the example you used is something you prefer to prepare at home...

 

[jlee]

He has 15 credit cards, holy shitsnacks

Meh, I have ~10. They sit idle most of the time.

 

[smitbret]

The thing that stuck out to me was that it seemed like the higher income people with more disposable income were also the ones that appeared to be more disciplined with budgeting and watching the in and out of their money. Are people poor because they don't watch their money or do they not watch their money because they are poor?

I really want to get a couple of pillow pets and send it to the $20k guy's kids.

 

[Ns1]

People with more money are disciplined because they want even more money.

 

[steppinthrax]

People with more money are disciplined because they want even more money.

Because we know the value of a dollar.

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[OutHouse]

how does the poverty line guy keep getting so many tickets? i mean, stop getting tickets! he said he had $3000 worth of tickets. then he says he pays one off and gets another. wtf???

I bet 10 bucks he has neck tatts.

 

[jlee]

The thing that stuck out to me was that it seemed like the higher income people with more disposable income were also the ones that appeared to be more disciplined with budgeting and watching the in and out of their money. Are people poor because they don't watch their money or do they not watch their money because they are poor?

I really want to get a couple of pillow pets and send it to the $20k guy's kids.

Probably both. He has no idea what's going on with his finances. Complaining about taxes? Seriously?

He doesn't have any...

The thing that stuck out to me was that it seemed like the higher income people with more disposable income were also the ones that appeared to be more disciplined with budgeting and watching the in and out of their money. Are people poor because they don't watch their money or do they not watch their money because they are poor?

I really want to get a couple of pillow pets and send it to the $20k guy's kids.

The higher income people (paying the bulk of the taxes) are also the ones not complaining about taxes, lol.

 

[steppinthrax]

I bet 10 bucks he has neck tatts.

I bet 10 bucks the 250 guy is divorced and paying alimony and child support.

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[purbeast0]

I bet 10 bucks the 250 guy is divorced and paying alimony and child support.

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lol. his monthly expenses of $7k made absolutely no sense when he broke it down and only had like less than $3k in monthly expenses.

 

[Argo]

Holy Carp! WTH is he buying. Socal is expensive but it's not that expensive for basically two adults.

You can easily hit that at whole foods.

 

[steppinthrax]

lol. his monthly expenses of $7k made absolutely no sense when he broke it down and only had like less than $3k in monthly expenses.

He's old and has one kid, I doubt a wife. He seemed to be the only one that dosen't mention family.

 

[steppinthrax]

Probably both. He has no idea what's going on with his finances. Complaining about taxes? Seriously?


He doesn't have any...



The higher income people (paying the bulk of the taxes) are also the ones not complaining about taxes, lol.

You forgot he's likely getting credits, so he actually makes money filing taxes.

 

[dainthomas]

That was an interesting read... I was surprised how happy they all were from rich to poor.

Every scientific study says that acquiring money or things gives people a brief bump in happiness, but they quickly return to their baseline level.

 

[Zeze]

Do you keep a budget?
We do. Because of the size of our family, we have to budget at least $150 per month for BJ's

:sneaky:

 

[AznAnarchy99]

He has 15 credit cards, holy shitsnacks

Just counted mine. I'm at 19 with less than 4k debt I hold on a non interest card.

 

[stlc8tr]

I'm curious what kind of enormous debt the millionaire's parents have since he's raking in 1M a year, has no debt, trust funds for kid's education, 5M+ in the bank, and spends dick.

He said that his "number" was $25M, which includes paying off his parent's debt so given the other upgrades he mentioned (bigger house, fund for his kid's businesses, etc.), I'm guessing that his parent's debts are somewhere around $4-$6M. Probably business related.

 

[Zeze]

The 7 an hour guy I'm not feeling sorry for, he just needs to apply himself some more. Who the fuck pays someone $7.00/hr nowadays? You could get a job doing roadside construction, making more than that.

The $7 guy's problem isn't 'applying yourself harder'. He seems to be already working hard.

Someone like him at his level is plain clueless and directionless on how to make more money.

Dare I say... some folks were not born with such brain capacity. Look at the way he handles parking tickets.

 

[Eug]

$250k guy is fundamentally retarded. He has more credit card debt than he's admitting (even that which he admits to is stupid--$8k credit card debt is dumb. He has more than enough money to pay that off. No wealthy person carries any balance--and certainly not $8k. what a dummy), has an idea that he "needs" 4-5 times the money that $1mil guy needs, but no current plan, let alone a foundation to get there.

? He said he's paying his $7xxx off at the end of the month.

When you make more than $200000 a year, it's not uncommon to have $7000 of credit accumulated in a single month.

That said, he does seem like a spender.

--

P.S. This made the juvenile part of me snicker:

we have to budget at least $150 per month for BJ's

 

[Argo]

The $7 guy's problem isn't 'applying yourself harder'. He seems to be already working hard.

Someone like him at his level is plain clueless and directionless on how to make more money.

Dare I say... some folks were not born with such brain capacity. Look at the way he handles parking tickets.

You think it's lack of education, or just luck of the genetic draw?

 

[Zeze]

You think it's lack of education, or just luck of the genetic draw?

You don't need to go to college or HS to take a look at the speeding ticket problem and approach it this wisely.

Read the freakin' ticket- they have hardship options. These tickets are very very expensive for someone who works at $7/hr. It's better to find someone to fill in for you to appear in court.

He's just blindly paying one after another as he can afford them while they rack up late fees.

 

[Ns1]

The $7 guy's problem isn't 'applying yourself harder'. He seems to be already working hard.

One part time job =/= working hard