Who SAVES and who SPENDS?! Financial Strategy Thread.

[thomas91169]

debt sucks. leaving it to your loved ones sucks more. dont be a menace to south central while drinking your juice in the hood!

I am trying to save right now, ive kinda grown tired with always wanting and wanting things i know ill never have, always "if i had the money, if i had the money", well ive found that when i have the money, i dont want whatever it was i was saving up for, id rather save more for something else.

 

[Fast Freddy]

i save more than i spend

 

[VirtualSVT]

you soo don't count.

 

[insane99svt]

You have a degenerate mentality. You want to cheat your debtors and stick others with it. Real classy. There is plenty of trash like you in this country that is obsessed with materialism and have no regard for paying your debt. You're the type that would stick your debt to your kids because its all about you. Children think like that. :nonono:

OMG dude I was making a joke lighten up plus I said I would have insurance to pay the debt if you would read all of it and again I am 21 years old I have an 03 Cobra paid for a 99 KB Lightning I owe 9k on and pay more than the min payment and have well over a 100k in the bank I dont think you need worry about me.:bash:

 

[SVT F15O]

Well, you just explained who the schmuck is. So what quarrel do you have with me? Obviously and this should be a no brainer for you...the schmuck would be the guy that can't afford that type of mortagage. And thats exactly who I referred to. And why we have thousands of these types which is evident with how so many have been failing to meet their mortgage obligations over the past year. Thank God its tougher for people to declare for bankruptcy!

Sorry I had to simplify this fellas to this degree. Clearly, no matter hoe obvious you make remarks on this site sometimes, there will always be at least one person (SVT 150) who can't follow along what you're implying. :nonono:

You simply called everyone that has a $1600-$2200 mortgage a "schmuck." I have no quarrel with you, I just didn't agree with what you said. Sorry you need to make it into something it is not. -Mat-

 

[dsrtdukone]

I max out my 401 every year until I reach my max (usually about the time Social Security gets paid out), and I also deposit $25 per week into a high yield educational fund for each of my children. I just purchased a new home, on a 15 year mortgage (fixed rate), which I put almost 60% down on, so my house payment is only about $1200 a month. My wife and I don't go out partying much, which saves quite a bit of money. My wife has a Roth IRA, that she deals with exclusively (I don't have a clue how much she puts in, or what it's current value is). I never buy a new vehicle until the last one is paid off, and haven't had a car loan duration greater than 36 months since the early 90's. I'd rather buckle down, and do without some of the extras, so I can pay off my debts quickly.

 

[JiggaStyles09]

i am definitly in the "saver" category right now. its the easiest to save your money when you are young and i have built a nice savings from living with my parents and having essentially no major bills. although i really wanted to go out and buy myself a nice stang to drive around in when i was in high school i am glad i didnt now for obvious reasons.

 

[MattHendrickson]

i try to save but most of the time i end up blowing a lot of cash on stupid shit..i just tell myself that i can't take money to the grave lol but that rarely makes me feel better.

 

[Common]

How could write off a car unless you donate it? :shrug:

Leases can be written of as an expense if you own some sort of company. My dad does it. Not really familiar with the detail.

 

[EVLSVT]

I am not good with money.

Although I have ZERO debt, and I live at home (still going to college) so I may be better off then people with debt..

I work 3 days a week while at school.. and my mentalty is to finish the cobra then save.. which I know is NOT good..

But I am very smart with stocks and investing, and I am in charge of my mom's stocks, and making them do quite well... I just need a job where I can make more then 1K a month.. then Ill start saving lol!

 

[About2bite]

It going out of style buddy, well at least in my mind it is. The value of the dollar is depreciating every day so F*** it ill spend my money and help boost the economy a little :rockon:




:burn:
..^........^
..$$......me

 

[Midnight_Cobra]

I'm 19 that JUST got my 5 digits in my bank account from working the past two years making 10/hr. I save about 60-70% of my paycheck. I just like having the ability to buy something that I really want for a long time with out having to eat mac and cheese for a year to buy it. I'll be starting my 401k and putting in 5% and my company matches that 5%, so I should be doing GREAT by the time I'm 25 or so.

But I still have college to go to, I'm still at a JC and living at home, trying to move out and live with some roomates. But we'll see.

 

[mysticsvt]

One more thing...if you work for a company that will match lets say 10% and you only save 5%..ur an idiot. I wish the Military would match anything. The key factor in my next career will mostly be determined by how much they meet me. TAKE ADVANTAGE OF EVERYTHING THEY MEET, ITS FREEEE MONEY.-Shane

 

[99cobradave]

I'm saving myself poor. But I'm worth 7 figures. Most guys get off on 10 second timeslips, I get off on 10% compound interest.

For all you young reckless spenders, take note: "For want and need, save what may; for morning sun does not last all day." - Ben Franklin

 

[roushracin]

Before I got married a year and a half ago I spent all my money on the mods for my Lightning I had and my 360R Roush Mustang. Now that I am married though, I am saving more. I contribute 6% towards my company's 401K plan which they match 100% of that and my wife does the same from her company and we also invest in a Roth IRA account each month. We just put a contract down on a new house to be built so that's why I'm trying to save a little more. I say we live above our means when it comes to cars. I have since sold the L and the 360R but I bought an Acura TSX a few years ago for my daily commute and just last year I bought my wife a Lexus RX330. Do we need these cars? Absolutely not, but it's something we wanted and wanted to get for ourselves before we start a family. Tell you what though, I sure miss having a Ford in the garage. Once the Acura is paid off, Terminator Cobra, here I come!

 

[canibus]

99cobradave. how are you wroth 7 figures? I don't care who you are but anyone with 7 figures would own something much better than a 99 cobra. and i'm not talking about ferraris or lambos, i'm talking about lexus, mercedes, range, etc. etc.

 

[Common]

99cobradave. how are you wroth 7 figures? I don't care who you are but anyone with 7 figures would own something much better than a 99 cobra. and i'm not talking about ferraris or lambos, i'm talking about lexus, mercedes, range, etc. etc.

That is by far most moronic statement I have read in a long,loooooooong time. You win.:kaboom:

 

[DrivenVA]

I try to keep a good balance that will allow me to enjoy myself now, but live a comfortable retirement.

Each month:
$1000 into an emergency savings fund (ING Direct money market account)
$333 into a Vanguard Roth IRA (maxes out at $4k/yr)
$300 into a Vanguard European and Pacific mutual fund
$500 into my 401(k) (Gonna increase this soon. Company matches 4% and adds an additional 6% profit sharing!!)


After that, I pay bills and house mortgage. Whatever is left is my fun money for the month. Works out well enough for us and we know we will be set later on, especially with the wife's military pension starting at 38!

 

[01cobravortech]

You simply called everyone that has a $1600-$2200 mortgage a "schmuck." I have no quarrel with you, I just didn't agree with what you said. Sorry you need to make it into something it is not. -Mat-

OMG. Did it ever occur to you that I was referring to people that have now found they were unable to pay those mortgages but wanted a house so bad that they put a minimal down payment or over extended themselves? Do you honestly think that someone is a schmuck if they can easily afford the $1600 - $2200 payment? I see its a bit of a challenge for you to analyze words and their insinuation.

 

[Spartacus]

You weren't intentionally trying to be a retard?

No, it was aj oke with some seriousness and truth. Is that even possible? :dw: Anyways... That was my honest answer.