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Old 01-11-2012, 02:42 PM   #61
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we did the math, we save closer to 75%...
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.
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Old 01-11-2012, 03:03 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
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Old 01-11-2012, 03:04 PM   #63
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.
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Old 01-11-2012, 03:10 PM   #64
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Originally Posted by Scrappy Jack View Post
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.
what comes in vs. what goes out each month. living in a small apt while we save doesn't hurt
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Old 01-11-2012, 03:37 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.
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Old 01-11-2012, 03:42 PM   #66
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make more money and don't spend it.

find a plaent fitness nearby and cut your gym budget by 3/4
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Old 01-11-2012, 04:56 PM   #67
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Originally Posted by rmcelwee View Post
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...
Rob I am not recommending getting yourself in debt. What I am saying is that money can indeed buy quality of life which can indeed net happiness.

Luxuries really do make life much more pleasant.
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Old 01-11-2012, 05:19 PM   #68
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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.
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Old 01-11-2012, 05:42 PM   #69
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dont get me wrong. i wanna be rich as ----. im just saving hardcore now to buy a new house.
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Old 01-11-2012, 05:59 PM   #70
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Originally Posted by rmcelwee View Post
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.

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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Old 01-11-2012, 06:42 PM   #71
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Originally Posted by Braineack View Post
find a plaent fitness nearby and cut your gym budget by 3/4
OR - get a REAL man's job. I probably workout more in one day than someone possibly could all week at the gym.

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Originally Posted by shlammed View Post
^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
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

Quote:
Originally Posted by Faeflora View Post
Rob I am not recommending getting yourself in debt. What I am saying is that money can indeed buy quality of life which can indeed net happiness.

Luxuries really do make life much more pleasant.
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

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Originally Posted by rmcelwee View Post
What dollar amount do I need to spend? I had no idea how unhappy I actually was <G>.
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.

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Originally Posted by Braineack View Post
dont get me wrong. i wanna be rich as ----. im just saving hardcore now to buy a new house.
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.
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Old 01-12-2012, 11:28 AM   #72
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what comes in vs. what goes out each month. living in a small apt while we save doesn't hurt
also, this doesn't include any 401K contributions, so it may be more--but as calulated (in/out), it's right at 75%.
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Old 01-12-2012, 01:48 PM   #73
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Originally Posted by Braineack View Post
also, this doesn't include any 401K contributions, so it may be more--but as calulated (in/out), it's right at 75%.
I wish I made enough $ for that saving rate, I'm just part time consulting right now due to school.
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Old 01-12-2012, 01:51 PM   #74
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Originally Posted by Braineack View Post
Without looking, we probably have a 60-70% savings rate.
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).
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Old 01-12-2012, 01:56 PM   #75
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Y8s often wonders why I use two payments to buy Chipotle some nights.
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Old 01-12-2012, 02:17 PM   #76
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The $400 "blow money"
I spend $400 in blow money a night. On blow.
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Old 01-12-2012, 02:21 PM   #77
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you're getting pretty good at them too.
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Old 01-12-2012, 02:34 PM   #78
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Old 01-12-2012, 02:38 PM   #79
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I feel bad though, like I should be paying YOU...but this works out well.
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Old 01-12-2012, 03:02 PM   #80
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