Wow, wow, wow! That is all I can say....

Here are some paragraphs for those that don't want to read all three pages! Here is the first family:

For the last two years, Amar, 36, has run a technology unit in the capital markets division for Lehman Bros. until it went bankrupt and was bought in part by Barclays. He's still there, adjusting with the change in management. His salary at Lehman's was $400,000, including a bonus and restricted stock options. Amar's base salary, about $200,000, remains the same, but there are no reports yet on what will happen to 2008 bonuses and options. (wow, can't make it on $200k????)

Last year they sold their fully loaded Nissan Maxima for a small minivan. They stopped going to movies and let the cleaning woman go(must have been hard). But some habits are hard to break. Buying back-to-school clothes for her daughter this fall, Mona knew she should have gone to Walmart, but she ended up charging $500 at Gap. (that is for ONE daughter who is 3 years old in preschool!!!)

Later, she describes bitterly the lavish gifts her husband gave when they felt flush. When Mona's sister was marrying, Amar presented her with a $5,000 diamond-and-platinum ring to give her new husband and a week at the Bellagio in Las Vegas. (I don't understand this??)


Here is the second family:

Fran Alvarez rarely spent lavishly, as she describes it, during the five years her husband, Carlos, 43, was making $250,000 writing software programs for Credit Suisse. He will be earning half that in his new job away from Wall Street. It was either that or sell the house with its $3,000 monthly mortgage. (Holy cow, $3,000 a month mortgage!!!!)

At 41, Fran is the caretaker of their daughters, Gabriella, 6, and Isabella, 4. In the last five months she has gone back to her daughter-of-a-mechanic mentality. She canceled magazine subscriptions and expensive cable -- and stopped buying soft toilet paper.

"Growing up, my mom used to buy the scratchiest toilet paper, and when we complained she would say, "When you get your own job, you buy the expensive type,' " Fran says. "Well, we're back to the scratchy stuff."


Wall Street wives had the richer, now they're a bit poorer - Los Angeles Times

I don't understand why the Mond family is having so much trouble. My BIL and SIL lived just outside NYC (moved to AZ 2 years ago) and his family did just fine on less than $100,000 per year. I don't get why these people are acting destitute on $200,000 per year. I think there's a bit more to this family's story than what we're hearing.

__________________
"Anybody who believes the pen is mightier than the sword hasn't been inside a maximum security prison." ~ Lisa Scottoline

Thats what I'm thinking too. We mommysavers 'make it' on WAAAY less out of necessity. Our family certainly doesn't make close to what they do and we are comfortable. I have basic cable, I buy Charmin, and I drive a minivan. Whats so bad about that??

__________________
~Missy~Mommy
Meghan8.Samantha7,Cameron4

SAVE HANDMADE TOYS!!

http://www.change.org/ideas/view/sav...from_the_cpsia

I think Anytime ones Income is Cut in half - it would take Some Getting Used to!
Sure if you Make 50,000 then 200,000 Seems Like ALOT!! But not if you were Used to Making 400,000
I think we Would Have a Bit of a Problem if My Dh's INcome were Cut in half!
Sure We Could Live off Half - But not with Our Current Bills!

The Part about The Nissan Maxima Confused Me?
I Can't See Myself Driving a Nissan If we Were Making 400,000
We have One now!

And I Can't Stand it when People Say things , Like , " I Could've Shopped at Walmart , But I Went to the Gap instead"
What Is so Wrong with walmart?? And You are Talking the Gap , Like its some Good As Gold Clothing Line?

Actually , I Have A Friend who says the same thing about Gymboree-
She would Never Buy Jeans at Walmart ... only at Gymboree. And Its really Snotty like, "are Almighty Folk , cause We Go to A Mall Chain store"

And it was $500 for ONE preschooler!! I don't think my mom spent $500 on all three of us kids! And we never went to the Gap!

In defense of Gymboree you can get clothing just as cheap as walmart (maybe even cheaper) if you do sales and coupons. The clothes hold up well and have an excellent re-sell value. I used to not understand until I started shopping there. Of course, I have 3 girls and we do Gymboree hand-me-downs and then re-sell.

I Do Know Gymboree well too! Actually I Think My Sons Whole Preschool Wardrobe is From there This Year! I Just Got another order , of About 10 3.99 and 4.99 Shirts
My Friend wouldn't Even Buy sale Or Use Coupons.
And I Am talking like a White Shirt Or Black Leggings ,
You know How Most Moms Would run to Walmart and Grab those Types Of Things needed for a Certain Outfit or whatever?
She REFUSED -
What i Mean Is -
To Me Buying Gymboree Is Not like Shopping at some little Boutique On 5th Avenue. It doesn't Mean If you Shop there You Are holier than thou , and Cannot Possibly shop at a Store as Low As Walmart.
Not Sure If You Know What I Am Saying ...
I Know What I Mean though.

In all fairness, there is more to the story ...

On the morning of Black Monday, Sept. 15, Mona, then six months pregnant, was outside an operating room waiting to have a mastectomy because of breast cancer. Her husband knew Lehman would be declaring bankruptcy that morning.

I can't imagine being 6 months pregnant AND being treated for breast cancer while having to worry if your family is going to have medical insurance by the end of the month or not.

As for the other wife, I have to hand it to her for going immediately into 'frugal mode'.

__________________
"I've been rich and I've been poor but independently wealthy is where it is at."