Income = Cost of living?

[CTR0022]

So I wanted to start this thread in response to all the threads recently being posted about cost of leases, day/guided hunts/trophy fees, home/new vehicle prices going through the roof, and so on. I know some/many of these are luxuries and not really necessities but none the less there seems to be no shortage of people shelling out the money to participate.

So my question is has your income increased proportionately to cover the increased cost for many of these luxuries in lets say the past 5 years. Or has your income remained flat, or even decreased as we know a lot of the oil/gas folks are still suffering.

I ask b/c I and a lot of the folks I know have been scratching our heads wondering how people are affording these hiked prices. I am fairly conservative with my money and like to save a good portion of it and try to get good value out of what I spend my money on. Don't get me wrong, I'm all for everyone making as much money as they can. My income has increased but not to the point of keeping up with a lot of these cost. So if you don't mind sharing your thoughts, post up.

I was going to post this question later, but decided to go ahead now. Do you see another financial collapse coming in the next handful of years? As mentioned there is no shortage of people shelling out the money for these hiked prices, from what I understand the banks are back to making questionable auto/home loans, people being people are letting banks and credit card companies put them in questionable financial positions. I imagine the majority of you will say your income has stayed fairly flat.

[gingib]

Income has stayed the same for past 6 years and I still manage to save money. Last year took a $8-9k pay cut to move to the country, but best move I have ever made.

It's about saving money and not wasting it like a lot of people: cooking, frugal, and spending it only on gas/food and hunting

[txwhitetail]

I don't know what everyone makes but it sure seems like there are a lot more 500k-1mm+ houses in many towns than jobs in said town making the $$ to pay for one...

[panhandlehunter]

We get a 3% cost of living raise yearly on top of any other raises you may receive. I make $30-40k more than I did 5 years ago.

[CEO]

The question I seem to be asking myself lately isn't can I afford to buy this, it's why the hell does this cost so much.

[12RingKing]

most middle class tax payers are victims of inflation. There are ways to combat this in your savings/retirement plans, but nonetheless, most will feel inflation on their bank account. The dollar doesn't get near as much as it use o. That's the key to the powers at be stealing your wealth.

[the-butcher]

The question I seem to be asking myself lately isn't can I afford to buy this, it's why the hell does this cost so much.

This. ^^^^ and it happens daily

[ColinR]

To me it's about spending wisely or on a specific thing you want. For me that is being really tight with day to day activities like eating out and cloths and stuff but then use that savings on a few high priced items like vacation, nice things for the house, etc.

[Sleepy]

The question I seem to be asking myself lately isn't can I afford to buy this, it's why the hell does this cost so much.

Man, I do the same thing.

My salary has stayed fairly flat, however the bonus has increased which ends up making my yearly income higher. Sometimes I wish the bonus was gone and just added into my salary. I have to be fairly frugal all year and then when the bonus comes, I try to set some back for different things throughout the year like vacation, lease, emergency funds, and then start any projects around the house that have needed to be done, but really couldn't afford it on the salary.

With that being said, I do feel like it gets just a little tougher every year. Not by much, but a little.

[60 Deluxe]

My income peaked in 1988. While I was able to average about the same income from then until retirement, I still lost buying power as inflation steadily ate away at my income. To make matters worse, the money that I had invested in stocks and mutual funds did not make a meaningful profit for about fifteen of those years. I laugh every time that I see one of those financial service company advertisements about building a financial plan tailored for you. The plan is for them to make a living off of your life savings. I did not begin to get ahead until I took matters into my own hands, fired the financial planners, sold everything remotely connected with Wall Street, and started investing in things that are almost totally controlled by me.

[RiverRat1]

The question I seem to be asking myself lately isn't can I afford to buy this, it's why the hell does this cost so much.

Better question is Should everyone be able to afford to buy everything they want?

If you can afford pretty much anything then you're doing better than 95% of the world.

Go back 6-9 years and I (along with lots of people) were pounding the table that inflation was on it's way. And it's not going to stop BTW. It's government stealing from savers...period.

[RiverRat1]

My income peaked in 1988. While I was able to average about the same income from then until retirement, I still lost buying power as inflation steadily ate away at my income. To make matters worse, the money that I had invested in stocks and mutual funds did not make a meaningful profit for about fifteen of those years. I laugh every time that I see one of those financial service company advertisements about building a financial plan tailored for you. The plan is for them to make a living off of your life savings. I did not begin to get ahead until I took matters into my own hands, fired the financial planners, sold everything remotely connected with Wall Street, and started investing in things that are almost totally controlled by me.

Like?

I'd love to get 100% away from Wall Street as long as that doesn't mean I have to work 40-80 per week managing the money or business'.

[sir shovelhands]

I don't know what everyone makes but it sure seems like there are a lot more 500k-1mm+ houses in many towns than jobs in said town making the $$ to pay for one...

The housing market is nuts. I dont see how it's sustainable given the average wage.

[cwill]

I'm in healthcare and My income has steadily declined over the last 5 years and this year is shaping up to be the worst by far. My wife's salary on the other hand has steadily increased and now she is receiving better yearly bonuses. We've traded places income wise over the years and we would be in a bind if I was still the bread winner. I just try to keep my nose down and keep plugging and watch my spending. I'm hopeful that better times are coming for healthcare and I'm also very thankful that I have the job I do even though it hasn't been very rewarding financially the last several years. If I had it all to do over again I would have acquired a trade and went to work for myself.

[HogHunter34]

I like the Dave Ramsey approach of budgeting well, emergency savings, & paying down debt. His motto is live like no one else today so you can live like no one else tomorrow