http://www.pfadvice.com/2011/07/06/even-the-wealthy-need-a-budget/ Bridging the gap between saving money and investing Wed, 22 May 2013 20:38:34 +0000 hourly 1 http://wordpress.org/?v=3.5.1 http://www.pfadvice.com/2011/07/06/even-the-wealthy-need-a-budget/comment-page-1/#comment-955850 Gail Thu, 11 Aug 2011 00:45:45 +0000 http://www.savingadvice.com/articles/?p=7412#comment-955850 If you read Money magazine, they frequently feature families that make huge amounts and yet don’t have two nickels to rub together. I think they think that since their income is so high that they can afford whatever they want. Why else would someone tie themselves up to a $7000/month mortgage, credit cards, etc. and have no money saved. I get truly amazed that people can be smart enough to earn that kind of money. My son that makes a bit more than minimum is very careful with his income and budgeting and has no credit card bills, unlike many guys his age. So it is odd that you can see people making oodles of money and blowing it all and an autistic man supporting himself with no help with money in savings!

]]> http://www.pfadvice.com/2011/07/06/even-the-wealthy-need-a-budget/comment-page-1/#comment-951096 Cassie Fri, 08 Jul 2011 12:58:04 +0000 http://www.savingadvice.com/articles/?p=7412#comment-951096 You are correct; everyone needs to have a plan for his or her money. High Earners are no more or less likely to live on less than they make without a plan then average earners. We are all venerable to lifestyle creep where every income increase is followed by a lifestyle increase. The only protection is a plan complete with goals and a budget.

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