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"all of you looking for higher salaries" I would add also that a higher salary which is not sustainable for some reason and results in a lifestyle that you can

by larrys 13y ago

"all of you looking for higher salaries" I would add also that a higher salary which is not sustainable for some reason and results in a lifestyle that you can't support (once you lose that salary) can be quite a problem. Not to mention the psychological impact of thinking you are a 250k a year person and having to drop to being an 80k a year person.

samatman 13y ago
A higher salary cannot result in a lifestyle you can't support. That requires two things: more money, and the decision to spend more money just because you have it. The psychological impact is quite real; I've ridden that yo-yo a couple times already.
- riquito 13y ago
  If you buy expensive taxable objects like houses/cars you can't afford to keep them and you must get rid of them quickly, probably at less then they're worth
  - minopret 13y ago
    That almost happened when my wife, my eight-year-old daughter, and I were playing Monopoly last night. I didn't think there was anything very realistic about Monopoly, but here it is. We were adding houses without keeping sufficient cash to cover the possibility of having to pay rent on another player's house-studded property. Although you don't lose anything by mortgaging and unmortgaging properties, when selling houses back to the bank you lose 50% of what you spent.
    - smileysteve 13y ago
      You're supposed to pay a 10% "fee" to the bank when you un mortgage.
WalterSear 13y ago
That's a really stupid way to manage your finances. And your self esteem.
- wpietri 13y ago
  But very human. Desires are numberless; salary never is. People also tend to assume that what's going on now is what will keep going on. And that's not even counting the trillion dollars spent each year trying to get people to spend their money.
  - larrys 13y ago
    "But very human." People also fail to take into account significant others and their family in this discussion. Your spouse sees you have made a certain salary and wants something. Your kids see you have money and want things their friends have (because you live in a nicer neighborhood). Your spouse wants more kids (or kids) because you can now "afford it". You are exposed to things that you can do with money that were never on the table when you had no money. The list is endless.
  - WalterSear 13y ago
    If you can't manage your money or your emotional relationship to it, the salary is still not the problem.

by larrys 13y ago

samatman 13y ago

A higher salary cannot result in a lifestyle you can't support. That requires two things: more money, and the decision to spend more money just because you have it. The psychological impact is quite real; I've ridden that yo-yo a couple times already.

riquito 13y ago
If you buy expensive taxable objects like houses/cars you can't afford to keep them and you must get rid of them quickly, probably at less then they're worth
- minopret 13y ago
  That almost happened when my wife, my eight-year-old daughter, and I were playing Monopoly last night. I didn't think there was anything very realistic about Monopoly, but here it is. We were adding houses without keeping sufficient cash to cover the possibility of having to pay rent on another player's house-studded property. Although you don't lose anything by mortgaging and unmortgaging properties, when selling houses back to the bank you lose 50% of what you spent.
  - smileysteve 13y ago
    You're supposed to pay a 10% "fee" to the bank when you un mortgage.

WalterSear 13y ago

That's a really stupid way to manage your finances. And your self esteem.

wpietri 13y ago
But very human. Desires are numberless; salary never is. People also tend to assume that what's going on now is what will keep going on. And that's not even counting the trillion dollars spent each year trying to get people to spend their money.
- larrys 13y ago
  "But very human." People also fail to take into account significant others and their family in this discussion. Your spouse sees you have made a certain salary and wants something. Your kids see you have money and want things their friends have (because you live in a nicer neighborhood). Your spouse wants more kids (or kids) because you can now "afford it". You are exposed to things that you can do with money that were never on the table when you had no money. The list is endless.
- WalterSear 13y ago
  If you can't manage your money or your emotional relationship to it, the salary is still not the problem.