How to live within your means (and be happy)...

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12-21-2009, 09:57 AM

#81

miatauser884

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Quote:

Originally Posted by sixshooter

Stein is right! So true. Self confidence means you don't need for others to see you as "cool" to be happy. More money and time is uselessly wasted on looking "cool" than I can believe. No fancy car, but a reliable car; no fancy clothes, but good fitting and clean clothes; no fancy house, but a well-maintained, reasonably sized house; no fancy jewelery or watches because they have no value if you aren't worried about trendy appearances; not bodybuilding but exercising because I'm not trying to impress you; no flatscreen TV because my CRT televisions still work; shoes should be comfortable, useful, and inexpensive unless I am sponsored to wear them; no fancy M3, but a Miata; no new fancy boat, but a nice older boat; no new pickup truck, but a well maintained very high mileage one; no credit card debt, where there used to be much of it; no spending every dollar you make, but maxing out a Roth401k (yes 401Ks are available now as an after tax investment);

But most importantly not fighting with your wife about money or anything else > all.

If you owe money, somebody owns you.
If you owe money because you are trying to be "cool" then somebody
owns you and you are insecure because you know somebody owns you.

It's not your car, it's the bank's car and you are borrowing it until you can actually buy it. Same thing with the house, those clothes, that big TV and all of the useless video games and BS you spent money on when you swiped that Visa. I don't really like that feeling of being owned very much. I will be very happy when this house is paid off.

I drive a Miata because I don't need you to think I'm cool.

Quote:

Originally Posted by miatamania

I really like this post, this is one reason I'm selling my SVX...I really want to pay off my credit card BEFORE I propose to my g/f. She would say yes either way, but it would mean a lot to her (and to myself) being able to come to the table with just my massive amounts of student loans. I like the spreadsheet idea...not sure how that would work, but I kinda want to try it.

Here is an older version of my budget sheet as an example. Feel free to take and modify.

Attached Files

blankbudget.xls (25.0 KB, 133 views)

12-21-2009, 11:13 AM

#82

neogenesis2004

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Quote:

Originally Posted by FRT_Fun

I read this whole thread, and learned a lot.. but I just spent $1500 on a TV and building a computer I don't need.

One day I'll learn.

I feel you pain somewhat. I really want to rebuild a new PC to play COD:MW2 with my friends. From past experience though I know that I will only play 1 hr a day at the most and after 6 months I will not play much at all anymore. So spending 600 on a PC is not cost effective. In the past I would have just built a uber $2000 pc anyway, but I've learned my lesson. So I cruise hardforum looking for some shmuck who is how I used to be and is parting out his PC for super cheap, get the few aprts I need to put a pc together, and I'll build a decent rig that can play what I need for like $200 or less.

As for the TV, I want one too but right now I dont have much room so until I move into a house I realize that its just not a good investment. For now I watch tv on my 24" dell lcd that I bought like 4 years ago, and it's 1080P anyway.

My latest regret was buying an xbox 360 after the price drop. I was hoping it would cure some of my boredom (It didn't). I bought it for $250, and like 5 games at reduced prices other than assassin's creed 2 at full price. Overall I spent like $350 and I've only played it a total of like 100 hours in 2-3 months. Now it just sits there. I will probably keep it though because I am getting ready to get an apt with my brother and it would probably be cool to keep it around for gaming with him and when we have friends over.

I was "lucky" that I made a lot of financial mistakes when I was young, like 14-18 yrs old, and my mother was there to help me through it. I have since paid her back and learned my lessons. I am for the most part no longer an impulse buyer unless its something thats a great deal that I know I can get a return on, Like a $400 hardtop or something. Now I feel uncomfortable if I have less than $2k in my checking account for emergencies. Big change from who I was just 5 years ago when I started college.

02-10-2010, 05:56 PM

#83

therieldeal

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bumping this thread because i like it.

ive finally started keeping my own budget sheet, and i should have several student loans and one of my credit cards paid off by the end of the month.

...lots of overtime is helping too, lol

02-10-2010, 06:22 PM

#84

Pitlab77

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wow old thread.

I know i posted in there somewhere but I'm keeping on keeping on like back when i posted on this thread. I owe nothing (except the loans I am getting for my masters which the state will pack back, but if not then I have the cash saved in an interest bearing account) and have way more money that most people would believe all on a modest teachers salary. Why well I do not need brand name fashion (except my Brooks running shoes but then they truley are the best and when you run 10 something miles you really need to perserve your knees), do not need the latest technology (or know how to save and wait to get something I want).

It makes me sad to see so many people blowing money where it is not needed. I just want to save for a house and get a fixed 15 year mortgage.

02-10-2010, 06:54 PM

#85

Stein

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Quote:

Originally Posted by therieldeal

That's a great deal. Good use of overtime if you ask me. You really don't notice it missing if it hasn't been there for a while.

02-11-2010, 01:21 AM

#86

UrbanSoot

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have you tried Free Personal Finance Software, Budget Software, Online Money Management and Budget Planner | Mint.com its awesome for categorizing your expenses especially if you ONLY use credit/debit cards and not cash. for business, i use Free Bookkeeping, Tax Record Keeping; Freelance & Self Employment Success - Online Software: Outright which is a very new application and its constantly being improved. both of these tools are completely free and will simplify your life!

02-11-2010, 05:15 AM

#87

rmcelwee

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Quote:

Originally Posted by rmcelwee

Friends: Guy makes 2X what I make, wife makes 80% of what I make. They are so far in debt they cannot see a way out. How can your family make $100K a year more than mine and still be broke?

Me - OK income, nice house, nice truck, nice Miata, two 50cc minibikes, good investments, completely debt free, happy.

Him - FANTASTIC income, nice house, nice truck, nice Miata, two 4-wheelers, no investments, completely swamped in debt, miserable. Yeah, he is enjoying life!

The comparison between his family and mine, where he went wrong and where I went right should be taught in school to little kids. I can walk around in his house and see what happened. It is crystal clear. Stacks of Blu-Ray DVDs, newest I-Phone, two widescreen TVs, sodded yard, the best clothes, the best toys, the best beer/liquor. They are really nice people and I am trying to help them out of their mess. They will eventually make it but it will take them years of hard work. If you had asked them 5 years ago they would have told you they were happy but I doubt they would now. A little sacrifice over the past 10 years and I bet they would have $1,000,000 right now - easy.

Just an update. We beat up on the friends until they got on board with a budget. They are paying $2,000+ a month on their debts right now and are making real headway. It is going to take them two years but I think they have finally figured out how to do it. They keep telling me they think of what I would say to them every time they have the urge to waste some money and that is keeping them in check. It is cool to see nice people actually turn it around and start doing the right stuff.

02-28-2010, 02:12 PM

#88

cjernigan

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I'm going to try mint.com, appears they have an iphone app. That will make it easy for me to keep track of everything on the go.

03-01-2010, 01:48 AM

#89

elesjuan

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Checking in a couple months late on this one, but that was a great read rmcelwee.

Living beyond my own means sucks, and I'm not that far in debt. Yet.

Keep telling myself if I could ever get a *real* job maybe I could get my **** together, but I have a bad feeling with my terrible money management skills (I like having ****.. car ****, electronics, guns, etc..) that wouldn't make any difference. Dammit..

03-01-2010, 08:44 AM

#90

BradC

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Quote:

Originally Posted by elesjuan

Living beyond my own means sucks, and I'm not that far in debt. Yet.

Keep telling myself if I could ever get a *real* job maybe I could get my **** together, but I have a bad feeling with my terrible money management skills (I like having ****.. car ****, electronics, guns, etc..) that wouldn't make any difference. Dammit..

Don't let yourself fall into that trap. I did that when I was younger, and it took forever to dig out.

Deal with what you make NOW, and live as that dictates.

03-01-2010, 10:07 AM

#91

y8s

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Quote:

Originally Posted by BradC

Don't let yourself fall into that trap. I did that when I was younger, and it took forever to dig out.

Deal with what you make NOW, and live as that dictates.

what he said.

if you can't budget for when you've got no money, you'll just escalate your bad habits when you make more and still be just as bad off.

03-01-2010, 01:16 PM

#92

Faeflora

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Quote:

Originally Posted by y8s

what he said.

if you can't budget for when you've got no money, you'll just escalate your bad habits when you make more and still be just as bad off.

Yes. I've known a lot of people who make well over $100K or even $200K that have absurd amounts of debt and very little money left over each month.

It's easy and fun to spend money and the more you make, the more you can spend and the more credit you can get. If you can afford a $3000 TV now and you double your salary, you'll look around and you'll easily be able find a $6000 TV to "upgrade" to. Drive a Miata and you can always get a boxster. Drive a boxster and you can always get a ferrari.