A couple with $11 million in assets say they live month to month. They spend $30k yearly on vacations, give five kids $300 a week each, and pay private school tuition for all of them. The husband doesn't track spending and the wife feels shut out of money talks.
We're considered a top percent wealthy people. However, there's a struggle to pay the bills.
We do spend. We go out for dinner a couple nights a week. We like to go away.
You spend $30K a year on vacation?
At the least. Kids get allowances.
How much is their allowance? $300 a week. $300 a week? Yeah.
The food is going up, tuition bill goes up, and we have 5 kids to pay tuition for.
You have 5 kids in private school?
We live in a community where everybody Sends to one of 3 schools.
What's the phrase? Keeping up with the— Joneses. These numbers are very wrong.
I don't know what I'm spending, probably.
He doesn't include me in the finances. He just gives me the brunt of his upset about it and his stress. We're definitely not on the same page.
Not on the same page, not making progress. That's what I'm hearing. Yeah. You are spending far more than you make every single month.
Now it makes sense.
Your understanding of reality is so out of alignment with The numbers. You have 5 kids, you have very high expenses. You are in serious trouble.
