While many of us may only imagine achieving a six-figure income by the age of 25, this woman finds herself compelled to ‘adjust’ her lifestyle downwards.
The ongoing cost of living crisis is not a novel revelation, and a couple based in Seattle is finding themselves compelled to significantly reconsider their financial situation, despite earning what many would perceive as a substantial salary.
Natalie Fischer, aged 25, and her husband Keldon, aged 30, both hold positions in the tech industry, each boasting a six-figure salary. Together, their combined income amounts to $200,000.
The couple previously incurred expenses amounting to $2,378 for their modest two-bedroom apartment in Seattle, Washington, USA—a figure consistent with the average cost for a property of similar size in the city.
In addition to their housing costs, they allocated $1,163 for bills, $200 for groceries, and $300 for dining out, resulting in an average monthly expenditure of $4,000.
Natalie and Keldon, who got married last year, incurred a significant expense of $20,000 for their special day.
In an effort to control their expenses, the couple has taken steps such as canceling their $208 gym memberships, with Natalie discontinuing her monthly manicures and pedicures, an expense totaling $100. Additionally, they have decided to limit their dining out to once a week.
Natalie and Keldon have had to ditch their expensive gym memberships. Credits: SWNS
Natalie, who works as a content creator, stated, “I would categorize my husband and me as middle class. We reside in the broader Seattle area, both holding traditional nine-to-five positions in the tech industry.”
“As both of us are earning over $100k, with the increase in income, we found ourselves indulging in more treats and luxuries.”
“We’ve chosen to scale down our lifestyle significantly, primarily because we were uncertain about where our money was being allocated.”
With the rise in their incomes, the couple encountered what they termed as ‘lifestyle creep’—a situation where they no longer hesitated to spend more simply because they could afford to do so.
Natalie remarked, “Merely five years ago, we were struggling college students. As our income grew, we found ourselves indulging in more luxuries.”
“We didn’t worry much about spending on outings, getting my hair done, or traveling.”
Natalie admitted that she was ‘living beyond her needs’. Credits: SWNS
At a certain point, the 25-year-old acknowledged that she and her spouse used to dine out up to three times a week.
However, because of their frequent expenditures in addition to their already high bills, Natalie and Keldon discovered that they were not able to save much money.
Natalie confessed, “I was exceeding my necessary expenses. I aim to significantly boost our savings, as I believe we’re spending excessively. Therefore, I’m striving to strike a better balance this year.”
“I recognize that we’ve succumbed to lifestyle creep, and that’s a major reason why I decided to scale down my lifestyle and meticulously track every dollar’s whereabouts.”
In 2024, the couple aims to limit their monthly spending to just $10 each on clothing, eliminate expenses on gym memberships and dining out/socializing, and slash their food bills to less than half of their previous amount.
