{ "media_type": "text", "post_content": "Have any of you become desensitized to $$? I feel like nothing under $100 really registers or a 300-500 expense is what spending $75 used to feel like. I don’t make crazy money (130K) and still save fine but could be better. Is this just getting older? How to ground myself?", "post_id": "5f638b8224fe74001a9eb36e", "reply_count": 57, "vote_count": 17, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Have any of you become desensitized to $$? I feel like nothing under $100 really registers or a 300-500 expense is what spending $75 used to feel like. I don’t make crazy money (130K) and still save fine but could be better. Is this just getting older? How to ground myself?

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Feel like we have a similar background based solely on the points you’ve noted. but my expenses are higher (live in NYC). Spent some time learning to enjoy my new income and spend. But then had to dial it back a bit and realize what I have / what I can do. Recognizing your privilege is great. But another this is to think about the long term, and what it’ll take to get you there and if you’re on that path. For example - if I want to buy a house somewhere, how much would it be and am I close to where I need to be for that. Or when the time comes for me to support my parents - do I have enough saved / allocated to do that. Micro budgeting / allocating my income has helped a lot. Cuts the disposable income by a lot and puts different amounts in each of my different savings / investment accts for those long term goals

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I make decent money, and don't have to worry, and I don't, but I retired at 44 and came back for fun. I could retire for several reasons, even with kids in private school and a McMansion, because we saved and made responsible financial decisions when younger. Try to think of things in hours, that keeps me balanced. OP, If you make $130K, after taxes and retirement savings you have about $85K. At $3K a month in living expenses you are at roughly $50K (to make the math easy). That means you make $25 an hour in disposable income. Is dinner and drinks worth 2 days pay? If yes, great, spend $400. It's easy to delude yourself into thinking you make $75 an hour when you really have disposable income of a third of that. I find the expensive stuff my wife and I spend time on, even though we don't have to. The cheap stuff, like a better cut of meat or a bottle wine at the store, doesn't matter. But the $100-300 mindless expenses were adding up. Take your your take home pay and divide by hours paid (for salary 40 a week) and use that in your decision process.

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130k is crazy money. Ask someone who makes 70k bruh

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Lol D9 ignore them, they’re the classic #imverysmart type who feel that being smug somehow erases the fact that they’re picking an argument that’s A) not relevant to the post B) attacking an assertion that was never made.

likefunny

Go through your accounts and sum up all the sub 100 dollar expenses you’ve had over the past year. Assume you saved that much every year for the next 20 years, and assume some conservative return on the savings. Internalize that number. Train yourself to think of that number every time you buy a $5 cup of copy or have dinner delivered for $30.

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I’m going to do it myself and I’m a little scared...

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26 with no kids, fixed expenses of 1700 per month. Grew up solidly middle class (household income was ~90K), worked typical hourly jobs from 16 through college. Just trying to understand how to re gain appreciation for money.

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I’m an SC (non MBA) making 120 at 25 so that seems about right to me...

I still collect all my coins in a jar, saving them for extra vacation money.

likeuplifting

Yawn.

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This was me two years ago. I realized that every weekend it was pretty normal to drop $3-400 on dinner, drinks, activities, and clothes... and that adds up to $15-20 grand a year.

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Dating puts a dent in the wallet that’s for sure!

Yes that mentality is very dangerous. I don’t know your family structure or living arrangements; however, you can take my personal situation for however it relates to you. My wife and I are both ~30, we have 3 kids all in private school/daycare and we own a home (with a mortgage). Our household income is ~$250k (~$160k after taxes) and our fixed monthly expenses are ~$9k (~$110k a year). This should technically leave you with a nice monthly/annual cushion. However, you add in a $10 coffee stop everyday (~$4k), $10-15 at the bodega/corner store (~$4-6k), of course you deserve a nice vacation for your hard work (~$5k), etc. it is very easy to lose sight of “what’s $100 for a nice dinner?” Unless you are pulling in $500k or more it is very easy to outspend a decent paycheck if you aren’t careful.

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It’s great to be frugal about the large purchases. Obviously a car or a house are a uncommon occurrence. But think about a luxury purchase; a nice pair of shoes or an expensive suit, I find that if I just think about it one more time before I purchase it helps me figure out if I really need/or want the purchase and it helps me assign it a slot in my monthly budget. Also, make sure not to forget about the little things, my wife did not believe how a coffee and a muffin can end up being a new designer bag if you cut out 1-2 days a week.....😂

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I get this. Both my parents were teachers and I just got a new job earning base + commission. My base is higher than their salaries when they retired. I worried about money for a long time, so I'm just enjoying not having to anymore. I donate per month to different charities and also look for opportunities to help people. Spoiling my mom after all her sacrifices for me is so worth it.

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Automate yourself to "scarcity" or some comfortable number. You'll feel like you make a lot less when you max your 401k/HSA/IRA and then a recurring investment. Example, I get paid on the 6th and 21st. My brokerage auto invests 1% of gross on the 5th/20th so the withdraw and deposit happen on the same day.

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I bet you’re a gem to manage

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Why? I like to think I am a nice guy, solidly proficient performer, is there something bad about reflecting that I am starting to become out of touch? I thought the latest thing was about recognizing privilege...

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Proportionally you have more disposable income, so the mindset shift makes sense. That being said, spend less, save more. Just case your income goes up doesn't mean you need to scale purchases and expenses accordingly.

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I’m in the same exact position..all the travel and expense budget has thrown off my sense of money. It has been hard to adjust...wife and I are considering doing everything by cash to have a better sense. We already Do the 401k, Roth, and savings account and have secondary income (RE)...but splurge on everything else.

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Yes!! The expense accounts gave me a horrible habit of not looking at amounts or prices (i.e $4 for a water now seems fair)

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Nope. Still try to save every dollar wherever I can. Compound interest is the motivator!

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Save yo money! Or you’ll be working forever.

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I think it might be helpful to change your spending mindset. Not sure what you do now but after paying off fixed expenses, set aside a larger chunk of money (more than your usual, don’t be afraid to push yourself) to save/invest and work with a smaller budget for the discretionary spending choices. If you prioritize saving over spending I think you’ll see a ton of progress in this aspect, I know I personally did!

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You gotta pay yourself first and automate your savings. I max out my 401k, HSA, and set aside a fixed amount a month into a high yield savings account. After savings, housing, and transportation costs, you now have your variable spend budget. If you’re living within that, making these large splurges, it’s fine. Always pre-plan your savings first, rather than just transferring what’s left at the end of the month into savings.

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Stick to a budget.

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130k is a lot but it’s not fuck you money. I want that fuck you money. Here’s how to get it, while still appreciating the value of money in the interim: Every paycheck, automatically put 25% into stocks, and 25% into crypto That will force you to spend less as you have less, and you appreciate that rare dinner out Meanwhile, your fuck you fund is growing

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How are your expenses 1700 a month?

*Fixed (I.e rent, utilities, car insurance, various purchases I financed)

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