Money-related confessions go here

AwesomeAE

Any and all money-related confessions can go here.

Mine is lame, but H and I make good money, have very stable jobs, we fund retirement accounts, we don't spend recklessly, but we also don't save like we should. We have money in savings, but not much. The Money Matters board would weep if I ever posted our budget. We do stick to a budget just to be sure we aren't living beyond our means but I find it really hard to save because we're just not rainy-day people. We want to enjoy our money. Who knows how long we'll live for?

Also, I generally assume the people who have tens of thousands of dollars in savings accounts and are in their 20s and 30s inherited that money. Or they're lying.

hoforsho

Mine is we are broke. We bought too much house, had kids when we shouldn't and piled on the debt before we were married. We have no savings. None. We are now doing everything we can to pay down the debt including anything short of illegal or selling sperm or eggs.

allthegoodonesaretaken

I honestly believe that my stress and worry over money is taking years off my life.  I have credit card debt and yet I still buy Starbucks.

AnnieEricson

Our whole financial picture would make MM burn us at the stake. We don't do terribly, have done pretty decently at paying down some debt, but we still have some, and definitely don't have much in the way of savings. We're adding to it, but MM would think we were irresponsible to be ttc like we are.

littlebitta

I don't want to go too much into it, but I have so much debt. And not just SL debt. Credit card debt. I'd say we have nearly $30,000 of credit card debt.

swingerjane

OPs view is identical to my own.

scarylala

DH and I make very little money and I always feel like shiit when reading the posts about how $250k isn't "rich".  WTMF?!  DH and I could live a DRASTICALLY different lifestyle with that much money.  I seriously wish I could force myself into law school just for the money. 

MyAE33

We make well over the "magic" 250k number and I don't feel rich. Far from it. Womp, womp.

zyxw

AwesomeAE:

Also, I generally assume the people who have tens of thousands of dollars in savings accounts and are in their 20s and 30s inherited that money. Or they're lying.

we are in our early 30s and have around $50k liquid, plus retirement. We have never recvd any inheritance or non-work related financial gifts of any significance. We make less than the magic $250k, but we do make a comfortable combined income which allows us to save aggressively. We also have a smaller mortgage than we could afford, and dont go on vacations much. Our child care expenses are small. One car is paid off, the other was bought used.

You can believe I'm lying if you wish. I'm not though. 

Macmacmac

scarylala:

DH and I make very little money and I always feel like shiit when reading the posts about how $250k isn't "rich".  WTMF?!  DH and I could live a DRASTICALLY different lifestyle with that much money.  I seriously wish I could force myself into law school just for the money. 

you don't need to be a lawyer to make this salary.

babiesrabies2

MyAE33:

We make well over the "magic" 250k number and I don't feel rich. Far from it. Womp, womp.

How is that possible? What have you done to keep you from feeling rich?

IHaveSoMuch2Say

zyxw:

AwesomeAE:

Also, I generally assume the people who have tens of thousands of dollars in savings accounts and are in their 20s and 30s inherited that money. Or they're lying.

we are in our early 30s and have around $50k liquid, plus retirement. We have never recvd any inheritance or non-work related financial gifts of any significance. We make less than the magic $250k, but we do make a comfortable combined income which allows us to save aggressively. We also have a smaller mortgage than we could afford, and dont go on vacations much. Our child care expenses are small. One car is paid off, the other was bought used.

You can believe I'm lying if you wish. I'm not though. 

But your life sucks to shyt. Don't go on vacations? You can't take it with you.  

+LEN+

My salary is very modest but my husband does very well. I work because I enjoy it not because I need to. Last year with salary + bonuses he made almost double the magic number. We have a smaller home than most of our peers and nice cars, nice vacations. DC goes to a top of the line daycare. We have almost $100k in CC debt. We pay just slightly more than the minimum each month and paying it doesn't really affect our quality of life but we could just do so much more regarding savings and retirement if we paid it off. Somehow we just can't seem to give up our current standard of living to take care of it once and for all.

Macmacmac

babiesrabies2:

MyAE33:

We make well over the "magic" 250k number and I don't feel rich. Far from it. Womp, womp.

How is that possible? What have you done to keep you from feeling rich?

i feel very comfortable, but not rich.  But, I use rich and wealthy synonymously so could be why.  We have to work for this income.  It is not investment income. 

MyAE33

babiesrabies2:

MyAE33:

We make well over the "magic" 250k number and I don't feel rich. Far from it. Womp, womp.

How is that possible? What have you done to keep you from feeling rich?

 

Beats me. I can't figure it out. Maybe I just thought it would feel differently (better?)?

 Don't worry, I know it's messed up. And I would *never* say this in real life or under my "real" screen name  

funkytown123

Macmacmac:

scarylala:

DH and I make very little money and I always feel like shiit when reading the posts about how $250k isn't "rich".  WTMF?!  DH and I could live a DRASTICALLY different lifestyle with that much money.  I seriously wish I could force myself into law school just for the money. 

you don't need to be a lawyer to make this salary.

And if you're a lawyer, you probably don't make this salary.

zyxw

IHaveSoMuch2Say:

zyxw:

AwesomeAE:

Also, I generally assume the people who have tens of thousands of dollars in savings accounts and are in their 20s and 30s inherited that money. Or they're lying.

we are in our early 30s and have around $50k liquid, plus retirement. We have never recvd any inheritance or non-work related financial gifts of any significance. We make less than the magic $250k, but we do make a comfortable combined income which allows us to save aggressively. We also have a smaller mortgage than we could afford, and dont go on vacations much. Our child care expenses are small. One car is paid off, the other was bought used.

You can believe I'm lying if you wish. I'm not though. 

But your life sucks to shyt. Don't go on vacations? You can't take it with you.  

dont go on vacas +much+. And that is honestly more a function of vacation time being earmarked for other things like family related travel (which I dont really consider a vacation in the MM sense). We dont forego vacations because of MM reasons, but that is side benefit. We do long weekends more often, which by nature are cheaper. And the things we do splurge on (food mainly, activities for kids, clothes to a small degree) dont really add up for us as much as the bigger stuff does. And honestly we arent the jet-setter types where either of us feel the NEED to get away on some big trip regularly. I know some people fantasize about that stuff. I really dont. I fantasize more about the house we will someday be able to move to. Any our salaries combine to enough that we can save aggressively and that does not come at the cost of suffering.

Trust. My life doesnt suck. At all. I completely agree that you cant take it with you. For me, that means different things than fancy vacations.

MyAE33

Also though, if we use the word "rich" to describe people like Romney, how can we use the same word to categorize people who make, say, 350k and have to work for a living?

They just aren't anywhere near the same thing in my opinion. 

AnnieEricson

To me you are rich if:

You don't have to worry about paying your bills, don't have to feel guilty when you splurge on eating out, and can regularly buy yourself new clothes. So if you make 250k and you can do these things, then you are rich in my eyes. 

 

marlarky

littlebitta:

I don't want to go too much into it, but I have so much debt. And not just SL debt. Credit card debt. I'd say we have nearly $30,000 of credit card debt.

 

Ditto. And it doesn't bug me as much as it should.  

suzymarie

+LEN+:

My salary is very modest but my husband does very well. I work because I enjoy it not because I need to. Last year with salary + bonuses he made almost double the magic number. We have a smaller home than most of our peers and nice cars, nice vacations. DC goes to a top of the line daycare. We have almost $100k in CC debt. We pay just slightly more than the minimum each month and paying it doesn't really affect our quality of life but we could just do so much more regarding savings and retirement if we paid it off. Somehow we just can't seem to give up our current standard of living to take care of it once and for all.

 

Have you thought about seeing a financial planner?  If you H gets huge bonuses, have you thought about using a bonus to pay it off?

 

 

HiMyNameIsBob

MyAE33:

Also though, if we use the word "rich" to describe people like Romney, how can we use the same word to categorize people who make, say, 350k and have to work for a living?

They just aren't anywhere near the same thing in my opinion. 

 that's like saying somebody who is 80 lbs overweight isn't really fat because some people are 300 lbs overweight.

Romney = filthy stinkin' rich

People who have jobs and make 250k+ per year = plain old rich.

better?

funkytown123

How does one even get five or six figures of credit card debt?

flagburner

MyAE33:

Also though, if we use the word "rich" to describe people like Romney, how can we use the same word to categorize people who make, say, 350k and have to work for a living?

They just aren't anywhere near the same thing in my opinion. 

 

I agree. I know senior people at my old job or at my husband's job who make $1mil and they live in nice but not crazy houses in decent neighborhoods but they're not all goin out Kardashian style. They really just seem like normal but more comfortable people. We underestimate how many people have a lot of money in this country. Its not as many as are broke but we are the richest country in the world for a reason

flagburner

MyAE33:

Also though, if we use the word "rich" to describe people like Romney, how can we use the same word to categorize people who make, say, 350k and have to work for a living?

They just aren't anywhere near the same thing in my opinion. 

 

I agree. I know senior people at my old job or at my husband's job who make $1mil and they live in nice but not crazy houses in decent neighborhoods but they're not all goin out Kardashian style. They really just seem like normal but more comfortable people. We underestimate how many people have a lot of money in this country. Its not as many as are broke but we are the richest country in the world for a reason

mondayfunday

AnnieEricson:

To me you are rich if:

You don't have to worry about paying your bills, don't have to feel guilty when you splurge on eating out, and can regularly buy yourself new clothes. So if you make 250k and you can do these things, then you are rich in my eyes. 

 

I guess I am rich on 50k, then. My exH and I had six figures in savings (not counting retirement) in mid 20s after working four years and the highest we ever made annually was 125k. We had zero debt and only paid cash for cars but did not have inheritance.

AwesomeAE

mondayfunday:

AnnieEricson:

To me you are rich if:

You don't have to worry about paying your bills, don't have to feel guilty when you splurge on eating out, and can regularly buy yourself new clothes. So if you make 250k and you can do these things, then you are rich in my eyes. 

 

I guess I am rich on 50k, then. My exH and I had six figures in savings (not counting retirement) in mid 20s after working four years and the highest we ever made annually was 125k. We had zero debt and only paid cash for cars but did not have inheritance.

 

How???? Did you eat Ramen for dinner every day? I just don't get it. Thought I guess not having student loans or car payments or whatever helps a lot. 

HiMyNameIsBob

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

iwant2play2

funkytown123:

Macmacmac:

scarylala:

DH and I make very little money and I always feel like shiit when reading the posts about how $250k isn't "rich".  WTMF?!  DH and I could live a DRASTICALLY different lifestyle with that much money.  I seriously wish I could force myself into law school just for the money. 

you don't need to be a lawyer to make this salary.

And if you're a lawyer, you probably don't make this salary.

As a lawyer with 12 years in, the highest I've ever made was 67k. I'm at 45k now doing doc review. Only probably 12 of lawyers make mad money. The others, not so much.

And the above is my confession. I've been in my marriage probably 2 years longer than I should have due to the fact I can't afford to get divorced. But the time is coming, new job or no new job. Tick tock...

littlebitta

funkytown123:

How does one even get five or six figures of credit card debt?

By not being able to pay more than the bill every month. I need things, but I can only pay the $300 a month it asks me. And there's this thing called interest.

It's really not that confusing.

AwesomeAE

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

Yeah, because I would confess to doing something criminal because I'd be totes safe by posting that information under an AE.

So what's your confession? 

hoforsho

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

Would it help to say that 50% of my debt I hide from DH?

AnnieEricson

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

Sometimes I steal a couple bucks out of H's wallet and only tell him about it if he asks. Is that juicy enough? :-P 

HiMyNameIsBob

AwesomeAE:

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

Yeah, because I would confess to doing something criminal because I'd be totes safe by posting that information under an AE.

So what's your confession? 

details sshmeetails.  How about at least a little "I stripped to pay for college".

I don't have anything money related to "confess" because there is nothing interesting about my financial picture.  But apparently neither does anybody else here. 

 I'm just bitter because I expected juicy confessions to distract me from work, not yet another rehash of the "what is rich" debate.  BORING.

iwant2play2

How about this. When I married my husband, his credit score was about 430 he was one missed payment from getting his truck repo'd. He deployed 6 weeks after we married. We got the truck loan interest rate down from 18 to 6 paid it off with his deployment money. When he came back, we had about 11k in the bank. When he went back to work 3 months later, and I started combining our finances, the account had 900 in it. 2000 we had talked about spending but the rest was pissed away on booze, porn, guns & other sh*t. So 8 grand, gone. Nice, huh?!? And I got laid off 9 months later have been underemployed for almost 3 years.

funkytown123

littlebitta:

funkytown123:

How does one even get five or six figures of credit card debt?

By not being able to pay more than the bill every month. I need things, but I can only pay the $300 a month it asks me. And there's this thing called interest.

It's really not that confusing.

But how does it get to that point? I mean, I understand how the debt stays high once accumulated, but how does one get to 30K or 100K in credit card debt? Do you charge absolutely everything and not have a job?

+LEN+

suzymarie:

+LEN+:

My salary is very modest but my husband does very well. I work because I enjoy it not because I need to. Last year with salary + bonuses he made almost double the magic number. We have a smaller home than most of our peers and nice cars, nice vacations. DC goes to a top of the line daycare. We have almost $100k in CC debt. We pay just slightly more than the minimum each month and paying it doesn't really affect our quality of life but we could just do so much more regarding savings and retirement if we paid it off. Somehow we just can't seem to give up our current standard of living to take care of it once and for all.

 

Have you thought about seeing a financial planner?  If you H gets huge bonuses, have you thought about using a bonus to pay it off?

 

Yes but I am embrassed to make so much money and go to a planner with so much debt. I want to be really honest and say that neither DH or I want to give up our dinners out, nice clothes, whatever else we spend on. We use some of the bonuses to pay our taxes because H is sort of self employed and his employer doesn't take them out. We often dip in to our tax account for regular spending knowing that the bonuses are coming quarterly. They bonuses are not huge but are between $18-25k. We pay roughly $98k annually in taxes and will pay more when the Bush cuts expire. I honestly do not mind paying my taxes. I have a life many dream of and taxes is just my fair share but it's a lot of money. 

nitaw

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

All of this. I was waiting for Bernie Madoff's baby sister to roll up in this piece. 

HiMyNameIsBob

hoforsho:

HiMyNameIsBob:

These confessions incredibly lame. We've had these exact conversations under our real names.

I'm not rich! Yes you are! I'm not yachting around in designer clothes, so I'm not rich! I make tons of money but still have debt! wah wah!

OMG SHUT UP.

Does nobody have anything actually interesting to confess? Nobody actually embezzled money from their company? Nobody should be rich but has six figures in debt to scary loan sharks because they blow it all on the ponies? NOTHING?

Would it help to say that 50% of my debt I hide from DH?

How do you see this playing out long term?  Can you pay it off without him ever knowing?  Will you eventually confess?

funkytown123

+LEN+:

suzymarie:

+LEN+:

My salary is very modest but my husband does very well. I work because I enjoy it not because I need to. Last year with salary + bonuses he made almost double the magic number. We have a smaller home than most of our peers and nice cars, nice vacations. DC goes to a top of the line daycare. We have almost $100k in CC debt. We pay just slightly more than the minimum each month and paying it doesn't really affect our quality of life but we could just do so much more regarding savings and retirement if we paid it off. Somehow we just can't seem to give up our current standard of living to take care of it once and for all.

 

Have you thought about seeing a financial planner?  If you H gets huge bonuses, have you thought about using a bonus to pay it off?

 

Yes but I am embrassed to make so much money and go to a planner with so much debt. I want to be really honest and say that neither DH or I want to give up our dinners out, nice clothes, whatever else we spend on. We use some of the bonuses to pay our taxes because H is sort of self employed and his employer doesn't take them out. We often dip in to our tax account for regular spending knowing that the bonuses are coming quarterly. They bonuses are not huge but are between $18-25k. We pay roughly $98k annually in taxes and will pay more when the Bush cuts expire. I honestly do not mind paying my taxes. I have a life many dream of and taxes is just my fair share but it's a lot of money. 

I'm sorry, but this sounds ridiculous. You have a ton of debt but think others are jealous of the life you live but (apparently) can't afford?

NuggetBrain

iwant2play2:

How about this. When I married my husband, his credit score was about 430 he was one missed payment from getting his truck repo'd. He deployed 6 weeks after we married. We got the truck loan interest rate down from 18 to 6 paid it off with his deployment money. When he came back, we had about 11k in the bank. When he went back to work 3 months later, and I started combining our finances, the account had 900 in it. 2000 we had talked about spending but the rest was pissed away on booze, porn, guns & other sh*t. So 8 grand, gone. Nice, huh?!? And I got laid off 9 months later have been underemployed for almost 3 years.

I'm sorry, but if my husband spend eight thousand godd*mn dollars on booze, porn and guns in THREE MONTHS, especially without telling me, he would be my ex-husband by the end of month four.  What the MF.  My confession is that if you stayed married to him, I think you're kind of a dumbass.