What if your household expenses were $10,000 per month?

[cercis]

Re: What if your household expenses were $10,000 per month?

Wow, just wow.

It's okay if she isn't going into debt for it. Not good or desirable, she needs to have a safety net, but I would hope that some of that stuff she buys each weekend would be resellable if they need to.

I'm pretty sure DH and I will never make that kind of money. Environmental careers (I know, I'm a paralegal right now, but someday I will go back to my first love) just don't pay that well. We will top out at $40k/year, each. Unless, of course, we agree to work for a private company which may or may not be truly environmental.

Luckily, we live in an area where you can still find a really nice house for less than $150k.

[etswife2005]

Re: What if your household expenses were $10,000 per month?

I am not sure they make that kind of money either...but they do spend it...

I'm not sure where everyone lives but housing prices in some of your areas are just scary!!!

Our house is not huge 1300 sq. ft. but it has 3 bedrooms, 2 baths a living room and kitchen plus a nice yard...houses in our neighborhood sell for about 109,000 to say 115,000.

I can't imagine somone telling me a house the size of ours was worth $500,000.....We'd be living in a shack....

[jmjj215]

Re: What if your household expenses were $10,000 per month?

Dallas is the place to go if you're looking for a big city w/ reasonable housing

[tomkat]

Re: What if your household expenses were $10,000 per month?

Alabama has reasonable housing also. I bought my house 3.5 years ago brand new, all brick, 1640 sqft with 3 bedrooms, 2 baths, formal living and dining room (and you don't find too many new homes with formal living rooms anymore), great room, kitchen with breakfast nook, laundry room, on a half acre lot for $114,000. Our housing market isn't going through the roof like other areas, though. My house is worth about $125,000 today. Of course, it depends on what area of town you're on as to what the price of the home would be. Similar sized homes in ritzier areas of my town are selling brand new today for about $170,000 - $200,000.

The only thing I regret is not getting a home with a garage! A 2 car garage would've added about $15,000 to the price, and I felt I couldn't afford it.

Sorry, I think I got off topic, here.

[tomkat]

Re: What if your household expenses were $10,000 per month?

Goodness....Where do you live and how large is your home? In Alabama where I'm from, a $2600/mo house note equates to (approximately) a $400,000 - $550,000 home---we're talking brand new McMansion, somewhere between 2500 and 4000 sqft, 4-5 bedrooms (including nice size master suite with his/her walk-in closets and maybe even a sitting area) and 3-4 bathrooms, a half-bath or two, 1 or 2 bonus rooms, the best materials (granite countertops, tile flooring, expensive carpet, etc), 2-3 car garage, covered patio, formal living and dining areas in addition to family room and casual dining area...

And, depending on where you build in Alabama, this could include several acres of land as well!

I couldn't imagine living in a city where a 1000 sq ft house with no land and shared walls is $500,000! I'd be on the street, I guess!!!!

[kashi]

Re: What if your household expenses were $10,000 per month?

If my monthly expenses were $10,000...it would mean I was obscenely wealthy. Like old money, big business obscenely wealthy. And quite spoiled.

I would feel guilty spending that much on a regular basis! Think of all the good you could do with even half that amount of money per month.

[Ima saver]

Re: What if your household expenses were $10,000 per month?

Well, I live in a big house, about 3200 square feet, with a two car garage. We have a seperate 2 car garage with an efficenty apt. with bath. We are on two acres on a large creek. Houses like ours are priced at about $500,000.
Luckily, we paid for the house as we built it and my husband did all of the work himself, at nights and weekends.
We have no mortgage, so I could easily live on half of that $10,000 a month. I can't imagine just going shopping and spending $600 in one weekend. I probably don't spend that much money on myself all year.

[pyotr]

Re: What if your household expenses were $10,000 per month?

Are you all ncluding your state/fed taxes, FICA/medicare, health insurance, retirement savings, other savings plans, mortgage in your "monthly expenses"? If so, I can see how many families can easily exceed $10,000 monthly in expenses. I certainly exceed $10,000 monthly in expenses including all items above.

If you are excluding those items above in your "monthly expenses" accounting/reporting, what's your rationale for excluding these?

[cercis]

Re: What if your household expenses were $10,000 per month?

Pyotr - we don't make $120k/year, so yes, I'm including that.

And, in the original case, I'm pretty sure the woman wasn't including all that either. She was talking $10k/month after net.

[Bluezy]

Re: What if your household expenses were $10,000 per month?

It appears that the woman whose expenses total $10,000 per month is tap dancing in a mine field. One injury to her hubby and she is toast. No life insurance? Are there children in the family?

[Ima saver]

Re: What if your household expenses were $10,000 per month?

She needs to quit shopping so much and put that money in savings every weekend. I had a 10 year term insurance on my husband that was reasonable, but it just expired. It went from $300 a year cost to almost $2000. My husband would rather put that in savings than pay it in insurance payments, so I am putting that in savings instead.