Content doing what I'm doing until I stop being content.
I'm 19. I'll give a damn later. Until then, I'm going to spend my money on ale and whores.
Who SAVES and who SPENDS?! Financial Strategy Thread.
- Thread starter YesterdayAgain
- Start date
Content doing what I'm doing until I stop being content.
I'm 19. I'll give a damn later. Until then, I'm going to spend my money on ale and whores.
doesnt seem too crazy, as long as u dont steadily climb into the negatives, i atleast dont spend what i dont have. Saving will pick up even more steadily as i pick up more income, but ive been rockin the bare necessities these days to save up.
i guess ive always been a saver... but idk how i can save for a Ford GT lol
hahah i got you beat at the moment.... $8.75, and only $2.33 is available.
damn mcdonalds :beer:
please dont tell me you became broke because of that stupid micky d's monopoly game... everybody knows some inside corrupt POS steals the rare game pieces! a couple of my buddies at work are wasting their health and money for that junk.
Ummm.... nope. Thats just what I happened to have for lunch yesterday. Sorry mr. atkins, i eat what tastes good.
I'm 25 and will be fully retired by 49 by my 401K and ROTH.
I made a lot of money in HS working a shitton of hours and right afterwards.
But I also have fun. I save about 40% of my paychecks. My commish check is the last of the month and I save 60% of that one.
But I also save on weird shit. Like My car is broken and I'm waiting on parts but I'm walking the mile to and from work because renting a car just isn't worth it right now.
I made a lot of money in HS working a shitton of hours and right afterwards.
But I also have fun. I save about 40% of my paychecks. My commish check is the last of the month and I save 60% of that one.
But I also save on weird shit. Like My car is broken and I'm waiting on parts but I'm walking the mile to and from work because renting a car just isn't worth it right now.
haha "atkins" from what ive heard didnt do that well from eating too much steak and eggs haha. but yea i dont care what u eat. Im just ranting on about that stupid mcd's monopoly game that quite a few of my buddies at work are wasting their money on.
I think its all about lifestyle. Personally, i dont eat out much. i am perfectly content not going out and eating out that much so i think because of that, i am able to do other things with my income. i read where its smart to keep your entertainment budget at or below 10% of your income. i know i keep mine well below that.
It's all about balance and how "comfortable" you need your lifestyle to be.
Some people find pleasure in owning extravagant things and will tend to spend what they make with little to no regard to the future. Some people are content living very simple lives and saving more. I save more than anyone I know personally. I max out my Roth IRA every year and max out my employer's matching maximum 401k contribution each paycheck. I have easily 3+ months of expenses in liquid cash available to me if I were to lose my job. I continue to add to my savings when i'm in between deciding what to invest money in. I take time to research stocks and buy stocks in companies that I'm interested in owning for a very long period of time. I find enjoyment in "spending" my money on investments and watching them grow. I do not own a home, but my net worth is large enough to pay off every ounce of debt that I have. I usually sock my entire tax returns into a savings account. Last year I maxed out my Roth IRA with my tax returns.
I'm not afraid to spend money on my hobbies and things I am passionate about, but I do not overspend either. I enjoy life by NOT spending my money on things I wont enjoy. I could have spent $12-14k on a Honda Civic for a daily driver but I chose to buy a used low mileage 2001 Bullitt Mustang instead, because I will enjoy it more. I don't need to buy something brand new and waste my money on depreciation. I'm content with owning something that has been used. Living this way also allows me to own great things for less money. In this case, the warranty I have on my used Bullitt is better than the warranty that came with the car when it was brand new, and I got the car for less than half of what it would have cost me had I bought it new in 2001. I make a point of NOT being the first in line.
I live below my means. I have worked with people who need their daily morning cup of Starbucks, need extravagant cars to boast wealth that they don't truly have, wear expensive clothes, etc. I don't find enjoyment by wearing Rolex watches, or drinking Starbucks coffee. I spend enough to have fun now, but I save more than enough so that I can have a lot of fun when I retire too. I do not plan on working past my mid-50's, but we'll see how that goes. Saving now while I'm young (and earning insane amounts of compounding interest over the years) means being able to do things later in life that I can only imagine being able to do while I'm young. I always learned that if you want something nice, you need to save up for it. I'm the type of person that can enjoy life without living from paycheck to paycheck.
I read this somewhere, but I forgot where. Money does buy happiness, but more money does not buy more happiness.
Some people find pleasure in owning extravagant things and will tend to spend what they make with little to no regard to the future. Some people are content living very simple lives and saving more. I save more than anyone I know personally. I max out my Roth IRA every year and max out my employer's matching maximum 401k contribution each paycheck. I have easily 3+ months of expenses in liquid cash available to me if I were to lose my job. I continue to add to my savings when i'm in between deciding what to invest money in. I take time to research stocks and buy stocks in companies that I'm interested in owning for a very long period of time. I find enjoyment in "spending" my money on investments and watching them grow. I do not own a home, but my net worth is large enough to pay off every ounce of debt that I have. I usually sock my entire tax returns into a savings account. Last year I maxed out my Roth IRA with my tax returns.
I'm not afraid to spend money on my hobbies and things I am passionate about, but I do not overspend either. I enjoy life by NOT spending my money on things I wont enjoy. I could have spent $12-14k on a Honda Civic for a daily driver but I chose to buy a used low mileage 2001 Bullitt Mustang instead, because I will enjoy it more. I don't need to buy something brand new and waste my money on depreciation. I'm content with owning something that has been used. Living this way also allows me to own great things for less money. In this case, the warranty I have on my used Bullitt is better than the warranty that came with the car when it was brand new, and I got the car for less than half of what it would have cost me had I bought it new in 2001. I make a point of NOT being the first in line.
I live below my means. I have worked with people who need their daily morning cup of Starbucks, need extravagant cars to boast wealth that they don't truly have, wear expensive clothes, etc. I don't find enjoyment by wearing Rolex watches, or drinking Starbucks coffee. I spend enough to have fun now, but I save more than enough so that I can have a lot of fun when I retire too. I do not plan on working past my mid-50's, but we'll see how that goes. Saving now while I'm young (and earning insane amounts of compounding interest over the years) means being able to do things later in life that I can only imagine being able to do while I'm young. I always learned that if you want something nice, you need to save up for it. I'm the type of person that can enjoy life without living from paycheck to paycheck.
I read this somewhere, but I forgot where. Money does buy happiness, but more money does not buy more happiness.
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I spend like a special ed kid let loose at Disneyland!
What fun is the money if you dont spend it? :shrug:
And who says you cant live in debt? I have everything I want, all I have to do is make my credit card payment, sometimes less sometimes more. Its all a game. Nobody in California makes enough money to actually live an extravagant life, we just pretend.
"If you can finance it, you can afford it!"
What fun is the money if you dont spend it? :shrug:
And who says you cant live in debt? I have everything I want, all I have to do is make my credit card payment, sometimes less sometimes more. Its all a game. Nobody in California makes enough money to actually live an extravagant life, we just pretend.
"If you can finance it, you can afford it!"
YesterdayAgain
Banned
I'm not taking the troll bait.
for those who invest solely in 401k, retirement will be less than comfortable for you. Are you aware that those funds will be taxed at possibly a higher rate when you withdraw them? :read: Plus the american dollar will be a complete joke 30yrs from now if things keep going the way they are.
01cobravortech
Banned
I don't buy unless I have it. I even pay for my cars in cash. Why pay interest? Personal debt is what will collapse our nation's economy. I wish more people were responsible and ended this mentality of 'I have plenty of time to pay it off.'
I have been retired since 2001, Social Security is nice, pension is nice, a few extra bucks in your pocket is nice, time goes very quick, old age is coming, be prepared.
Spending seems to do me well.
My accountant told me I needed to "buy something" for tax reasons so I can write it off. I said "like what?". He said a house or a car. I said I already have two houses and a condo, and I have two cars - one of which I rarely drive.
I think I might go out and trade in the Explorer and buy a Range Rover.
My accountant told me I needed to "buy something" for tax reasons so I can write it off. I said "like what?". He said a house or a car. I said I already have two houses and a condo, and I have two cars - one of which I rarely drive.
I think I might go out and trade in the Explorer and buy a Range Rover.
01cobravortech
Banned
How could write off a car unless you donate it? :shrug:
I used to spend like it was going out of style. Now i am just saving, saving, saving. I don't want anymore debt unless it's good debt. IE. House.
F-Debt.
F-Debt.
01cobravortech
Banned
YOu sound like you'll be one of these 40 year old alcoholics, working as a painter, no medical or auto insurance, along with one or more DWIs under your belt. At 19 I had more sense than you. Worked construction and as a personal trainer in school. I wasn't giving my money to trash. :nonono:
I've read that there are ways to balance your taxable investment distributions (401k) with non taxable investments distributions (roth ira) in ways that keep you from getting placed in a very high tax bracket.
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