SRS: How do you manage your finances...
01-11-2012, 01:42 PM
#61
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How are you coming up with that number? For example, is that a simple "net discretionary / net income" or is that "what we actually put in to various savings vehicles / gross income" or something different?
Either way, it's impressive. Quite possibly too stringent for me, but still impressive.
Either way, it's impressive. Quite possibly too stringent for me, but still impressive.
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01-11-2012, 02:03 PM
#62
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^A+.
With my income and my monthly budget to not have to change lifestyle an extreme amount as to keep living like we want I will be saving ~45% of my monthly take home.
There should be lots of space in the budget to put extra into savings if I REALLY need to.
I did:
amount to savings after budget (div) avg total monthly income (*)100
With my income and my monthly budget to not have to change lifestyle an extreme amount as to keep living like we want I will be saving ~45% of my monthly take home.
There should be lots of space in the budget to put extra into savings if I REALLY need to.
I did:
amount to savings after budget (div) avg total monthly income (*)100
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01-11-2012, 02:10 PM
#64
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How are you coming up with that number? For example, is that a simple "net discretionary / net income" or is that "what we actually put in to various savings vehicles / gross income" or something different?
Either way, it's impressive. Quite possibly too stringent for me, but still impressive.
Either way, it's impressive. Quite possibly too stringent for me, but still impressive.
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01-11-2012, 02:37 PM
#65
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I really wish I knew how to cut my budget-real world. i can cut it but i think if i did there would be overages.
Car/tenant insurance $120/mo
Fuel(car/truck)-$200
Cable/internet-$50
Mobile phone-$74
Food-$400
Rent-$545 (split)
Entertainment-$100
Gym $42
Car maintenance/parts - $100
Prior to now my car maintenance/parts would be out of control and thats where my spending was... but with an actual budget this will keep me from doing spur of the moment type things and buying something dumb.
Car/tenant insurance $120/mo
Fuel(car/truck)-$200
Cable/internet-$50
Mobile phone-$74
Food-$400
Rent-$545 (split)
Entertainment-$100
Gym $42
Car maintenance/parts - $100
Prior to now my car maintenance/parts would be out of control and thats where my spending was... but with an actual budget this will keep me from doing spur of the moment type things and buying something dumb.
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01-11-2012, 03:56 PM
#67
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It really puzzles me to think that people are not happy unless they are spending money they do not have. Perhaps this is why the country is so screwed up and people are so desperate. There was a clerical error with our paychecks the other day at work (first check of the year). I must have had 10 people call me asking me if I had gotten my check and complaining about how screwed up they were that they didn't get paid. I think I could probably go 6 months or so without getting paid and wouldn't even break a sweat. Yep, I'm really missing out - not enjoying life at all...
Luxuries really do make life much more pleasant.
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01-11-2012, 04:19 PM
#68
What dollar amount do I need to spend? I had no idea how unhappy I actually was <G>.
I will always have more to spend (and more happiness according to you) compared to someone how makes the same amount of money as I do because of how I set up my finances early in life. No interest payments and lots of investment income coming in will give me more money in the long run, more security, more peace of mind (true happiness). Security, not a Harley, makes me and my wife happy. Being able to retire early because I never bought a boat in my 20's makes me happy. Coining a new phrase now: "My happiness/$ ratio is very high." Simple living, not worrying about what others think, and security has greatly enriched my life. Luxuries do NOT make my life more pleasant.
I will always have more to spend (and more happiness according to you) compared to someone how makes the same amount of money as I do because of how I set up my finances early in life. No interest payments and lots of investment income coming in will give me more money in the long run, more security, more peace of mind (true happiness). Security, not a Harley, makes me and my wife happy. Being able to retire early because I never bought a boat in my 20's makes me happy. Coining a new phrase now: "My happiness/$ ratio is very high." Simple living, not worrying about what others think, and security has greatly enriched my life. Luxuries do NOT make my life more pleasant.
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01-11-2012, 04:59 PM
#70
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What dollar amount do I need to spend? I had no idea how unhappy I actually was <G>.
I will always have more to spend (and more happiness according to you) compared to someone how makes the same amount of money as I do because of how I set up my finances early in life. No interest payments and lots of investment income coming in will give me more money in the long run, more security, more peace of mind (true happiness). Security, not a Harley, makes me and my wife happy. Being able to retire early because I never bought a boat in my 20's makes me happy. Coining a new phrase now: "My happiness/$ ratio is very high." Simple living, not worrying about what others think, and security has greatly enriched my life. Luxuries do NOT make my life more pleasant.
I will always have more to spend (and more happiness according to you) compared to someone how makes the same amount of money as I do because of how I set up my finances early in life. No interest payments and lots of investment income coming in will give me more money in the long run, more security, more peace of mind (true happiness). Security, not a Harley, makes me and my wife happy. Being able to retire early because I never bought a boat in my 20's makes me happy. Coining a new phrase now: "My happiness/$ ratio is very high." Simple living, not worrying about what others think, and security has greatly enriched my life. Luxuries do NOT make my life more pleasant.
Well, happiness is indeed subjective! You can't be happy if you only try to imitate the behaviors that make other men happy.
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01-11-2012, 05:42 PM
#71
OR - get a REAL man's job. 
I probably workout more in one day than someone possibly could all week at the gym.
On average I save about 40-45% of what I bring in. Sometimes it can be more, sometimes I spend more that month, sometimes its just a slow month.
I'm honestly just happy to be working, paying the bills and finally feel responsible with my money. Totally wishing I started caring years ago though. lol
Hard to believe, but, I actually agree with you on this.
I'm all for living simple and being happy with the basics, but there's also a part of me that just ------- loves to spend money on something awesome. I guess I look at it this way, if I die tomorrow, what good is all the money in bank? I also have no kids or wife FYI, so I can still say that. lol
Money cant MAKE someone happy, but what it brings can. From something as simple as a gift for someone else or giving to someone in need, to something as showboaty as buying yourself a $100k car or a seaplane. Just depends on a lot of different things.
Right now I'm trying to buy into our concrete business and I'm also trying to start my own. So even though I'd rather not rent EVER again after this lease is up, I'd rather secure my future now while I'm hungry for it.
Hopefully by the time I hit 30 I'll have my work career set and I can start building a house.
I probably workout more in one day than someone possibly could all week at the gym.^A+.
With my income and my monthly budget to not have to change lifestyle an extreme amount as to keep living like we want I will be saving ~45% of my monthly take home.
There should be lots of space in the budget to put extra into savings if I REALLY need to.
I did:
amount to savings after budget (div) avg total monthly income (*)100
With my income and my monthly budget to not have to change lifestyle an extreme amount as to keep living like we want I will be saving ~45% of my monthly take home.
There should be lots of space in the budget to put extra into savings if I REALLY need to.
I did:
amount to savings after budget (div) avg total monthly income (*)100
I'm honestly just happy to be working, paying the bills and finally feel responsible with my money. Totally wishing I started caring years ago though. lol
I'm all for living simple and being happy with the basics, but there's also a part of me that just ------- loves to spend money on something awesome. I guess I look at it this way, if I die tomorrow, what good is all the money in bank? I also have no kids or wife FYI, so I can still say that. lol
Hopefully by the time I hit 30 I'll have my work career set and I can start building a house.
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01-12-2012, 12:51 PM
#74
I was curious to see what ours was. Currently our savings rate is 54%. This is (Roth+401K+HSA+StockFund)/Income.
Every month we pay ourselves $400 and can spend it any way we want. I bought Chik-fil-a yesterday and that came out of my money since it isn't a budget item (buying a loaf of bread and peanut butter at the grocery store is a budget item - fast food is not). For 2011 I had spent -$3,200 (creative financing with flipping cars, etc gets me in the negative category) and my wife had spent $4,704 (just barely squeaking into the black). The $400 "blow money" keeps us happy with buying stuff we want but also keeps us in check and conscious of our goals. Since going to this method (maybe for the past 5 years?) I never bitch about money I think my wife is wasting and she doesn't bitch about money she thinks I am wasting. Yes, our budget is making us happy and improving our marriage (she would agree with this).
Every month we pay ourselves $400 and can spend it any way we want. I bought Chik-fil-a yesterday and that came out of my money since it isn't a budget item (buying a loaf of bread and peanut butter at the grocery store is a budget item - fast food is not). For 2011 I had spent -$3,200 (creative financing with flipping cars, etc gets me in the negative category) and my wife had spent $4,704 (just barely squeaking into the black). The $400 "blow money" keeps us happy with buying stuff we want but also keeps us in check and conscious of our goals. Since going to this method (maybe for the past 5 years?) I never bitch about money I think my wife is wasting and she doesn't bitch about money she thinks I am wasting. Yes, our budget is making us happy and improving our marriage (she would agree with this).
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