|
Budgeting (pg. 2)
|
View this Thread in Original format
| pkcRAISTLIN |
| quote: | Originally posted by igottaknow
whats the point of saving, you can't take it with you when you die. the day before I go I'm going to run up a huge credit card bill to stick it to the man. |
Will that make up for decades of sticking it to the child? |
|
|
| Nrg2Nfinit |
| quote: | Originally posted by igottaknow
whats the point of saving, you can't take it with you when you die. the day before I go I'm going to run up a huge credit card bill to stick it to the man. |
save, invest, earn more live comfortably. You save for the rainy day where you may need to use that money for unforeseen senarios. In the meantime invest it. Let your money work for you- don't work for your money.
(can i get an infomercial here :p) |
|
|
| Nrg2Nfinit |
| sorry can't tell if your being facetious or not :p |
|
|
| jonSun |
25-30% mortgage, taxes, bills ect.
the rest on i don't need
lately have not been saving anything & that's gotta change |
|
|
| JD8180 |
| quote: | Originally posted by Nrg2Nfinit
:conf: shouldn't you be calling it "savings?" your goal shouldn't be to breakeven at the end of the quarter month week etc. It should be to actually have income after all expenses (savings) spending money should be budgeted into your overall plan where anything remaining from that spending money can be carried over to savings.
otherwise you'll find yourself living paycheck to paycheck and when the anomaly expense come along, that will spell big trouble as you haven't saved anything on the side to account for it.
Basic rules of living "within" your means. |
everything he said. food is typically the one that most people mess up on (unless you buy tons of crap you don't need all the time). if you can manage to bring it down, try to set aside your spending money for the week, and save the rest.
it's always nice to have a fluffy cushion to sit on in the case something happens. if you end up saving too much, then you can go ahead and splurge on something at that point. is always bound to happen so it's good to be ready for it. |
|
|
| SYSTEM-J |
| quote: | Originally posted by Nrg2Nfinit
:conf: shouldn't you be calling it "savings?" your goal shouldn't be to breakeven at the end of the quarter month week etc. It should be to actually have income after all expenses (savings) spending money should be budgeted into your overall plan where anything remaining from that spending money can be carried over to savings.
otherwise you'll find yourself living paycheck to paycheck and when the anomaly expense come along, that will spell big trouble as you haven't saved anything on the side to account for it.
Basic rules of living "within" your means. |
I've got a decent amount of money in a savings account as a contingency against "anomaly expenses". I don't have any savings plan - if I have a surplus of money building up I'll put some in my savings account, but there's enough in there already to see me through, and once money goes in there it never comes out.
I also don't make a point of using all my spending money every week. I call it "spending money" merely because it's the amount of disposable income I know I can blow each week without losing money overall. I don't have the mentality of spending money for the sake of it. It's not "I have £50 a week I'm not spending, let's buy a new TV". |
|
|
| igottaknow |
| quote: | Originally posted by Nrg2Nfinit
sorry can't tell if your being facetious or not :p |
sort of. it doesn't help i just downed a pint |
|
|
| WittyHandle |
| quote: | Originally posted by gmilf
fireworks |
Am I the only one that spots an easy place to save some money? |
|
|
| Nrg2Nfinit |
| quote: | Originally posted by SYSTEM-J
I've got a decent amount of money in a savings account as a contingency against "anomaly expenses". I don't have any savings plan - if I have a surplus of money building up I'll put some in my savings account, but there's enough in there already to see me through, and once money goes in there it never comes out.
I also don't make a point of using all my spending money every week. I call it "spending money" merely because it's the amount of disposable income I know I can blow each week without losing money overall. I don't have the mentality of spending money for the sake of it. It's not "I have £50 a week I'm not spending, let's buy a new TV". |
sometimes a stagnant savings account just isn't enough which is why you should just give yourself that extra category.
Imagine you held 5000 dollars in your bank account just sitting there without adding to it for 10 years. the future value of that money depreciates considerably due to inflation at around 2 or 3% a year. 5000 dollars would probably cost you around 6500$ 10 years from now. So not only should you be continually adding to that amount, it should be incurring an interest of at least 3% to retain its value.
anyways, don't mean to badger here this is all just my opnion. |
|
|
| gmilf |
| quote: | Originally posted by WittyHandle
Am I the only one that spots an easy place to save some money? |
do you think its worth the risk of saving money by making my own? |
|
|
| gmilf |
| the site www.mint.com really helped a lot. I feel a little freaked out by how much personal info they now have on me though.:nervous: |
|
|
| WittyHandle |
| quote: | Originally posted by gmilf
do you think its worth the risk of saving money by making my own? |
Please start making your own. And be sure to post vids of setting off your first batch. I hear a crown of M80s is a great place to start. |
|
|
|
|
