makewayhomer
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from another thread:
I've always wondered how people define "afford" in the context of a statement like "only buy what you can afford". off the cuff, 1 week of salary after taxes, seems like a lot for a purchase of shoes (that was the context of the above) that means somebody making $100k a year can afford $1,000 shoes. in a strict sense that is probably true, but my guess is that the average salary of someone spending $1k on shoes is more likely to be making $200k+ of course other variables play in to this. some people like food, others cars, others random expensive hobby X, and all of this needs to be budgeted in to total annual spend. but if you could generalize, how do you define "afford". what % of your salary do you think is about right to spend on shoes, shirts, suits, watches, etc? (it's not my intent at all to figure out what people make, and I don't want this thread to become that)
Afford is probably a week's salary after tax or thereabouts.
I've always wondered how people define "afford" in the context of a statement like "only buy what you can afford". off the cuff, 1 week of salary after taxes, seems like a lot for a purchase of shoes (that was the context of the above) that means somebody making $100k a year can afford $1,000 shoes. in a strict sense that is probably true, but my guess is that the average salary of someone spending $1k on shoes is more likely to be making $200k+ of course other variables play in to this. some people like food, others cars, others random expensive hobby X, and all of this needs to be budgeted in to total annual spend. but if you could generalize, how do you define "afford". what % of your salary do you think is about right to spend on shoes, shirts, suits, watches, etc? (it's not my intent at all to figure out what people make, and I don't want this thread to become that)