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RE: The Cost of NOT Understanding "Cost Of Living" - Lessons Parents Need to Teach Their Children

in LeoFinance3 years ago

Thank you for this post.

I live in California, and often when talking about money on this platform, I have to remind myself that just because my family and I bring 6 figures home, does not mean ultimate comfort.

I will check out the linked site.

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Thanks for stopping and adding a comment. A 6 figure income would be incredible where I live. That would mean the ability to save more, invest more, and spend more on "wants."

I can not imagine how expensive it is to live in CA. And in addition to the increased costs of normal expenses, I bet taxes eat away more of your income as well.

The thing is that I grew up in California, so I am kind of numb to things like takes (lol, I meant taxes but that's a great typo so I'll leave it).

It is crazy to people, but I really don't mind paying them. I spent a lot of time in Mexico growing up, Tijuana to be specific. I loved having services like 911, water that never ran out, electricity that very rarely went out, emergency rooms, trash services ETC ETC ETC - because I grew up seeing first hand what it was like to live without them. I know other people figure out how to do it more cheaply than it is done in California.

But California <3 <3 <3

It is really services that eat up at our income. Stuff that is not necessary (ballet, soccer, baseball, fundraisers,), but why raise your children being able to watch everyone around them have these things, but not be able to have them, themselves? That's what's expensive in California. I pay the same for ballet classes than cousins on the other side of the border, but my kids get 45 minutes of instruction vs, 5 hours.

I can absolutely not complain though. I recognize that I get to live in California, and send my kids to ballet. Its just hella expensive to do so.

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I really like the typo (takes versus taxes). I see your point of view about being willing to pay for having reliable services. I lived in Indonesia for more than 10 years. There were a lot of services that I would have been willing to pay extra for to guarantee reliability.

"Stuff that is not necessary" (but really fun) is what I was referring to as the "temptation tax." You have opportunities available because you live in a bigger city that may not be available for my kids. Larger cities attract experts, and experts charge higher fees!

I really appreciate your perspective and honesty. Thanks for stopping by.

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