Need help with good spending/saving habits

[blazerboy30]

The most important is to try and not "keep up with the Jones'". Terrible habit. Just don't give a fuck. nice to have a few good gadgets and toys, but don't try to keep up, there are always those types that try to one-up each other with shit (esp. cars)

Agreed.

I actually try to take the mindset of making it a game, and an on-going joke of how cheap I am, and how I never have the latest, newest "stuff".

 

[Buzz Killington]

Agreed.

I actually try to take the mindset of making it a game, and an on-going joke of how cheap I am, and how I never have the latest, newest "stuff".

It took me a good year to buy a toaster oven, debating the pros and cons of things.

Takes me 3 months to find the perfect wallet.

Carry on suitcase? Don't even fucking ask.

I usually now spend a lot of time before buying something...still not perfect, I do buy a lot of shit but its better than I was before.

 

[blazerboy30]

It took me a good year to buy a toaster oven, debating the pros and cons of things.

Takes me 3 months to find the perfect wallet.

Carry on suitcase? Don't even fucking ask.

I usually now spend a lot of time before buying something...still not perfect, I do buy a lot of shit but its better than I was before.

If it ain't on craigslist, I ain't interested in buying it.

 

[gatorpops]

Google Dave Ramsey.com and check out his program, Financial Peace. It is Christian based but it's principles work for anyone. He is on cable TV and on radio. Many thousand have made his plan work.

Some of the principles include: making a budget and sticking to it, cutting up your credit card as you don't need them, pay cash for all planed budget expenses, and many other steps.

 

[Colonel Ronan]

Cable is another expensive one. Do you get movie channels, or just regular cable? Do you watch it enough to justify it? Do you buy movies? Rent movies, etc.?

I have the cable/internet bundle that I split with my roommates (four of us) that's $27/mo (each).

I pay ~$90/mo insurance for my '04 Jetta and it's about $40 to fill her up ($2.60 a gallon here) but I rarely do that. I usually just throw in $10 whenever I get close to E.

I'm still on my parent's health insurance but that will change once I turn 19 (next month) so that will be a bitch.

Then, $35/mo for my cell which is a must-have for work. ~$400 for rent & utilities.

No other subscriptions. No Netflix. Sometimes I get a movie from the Redbox which is $1 for a day.

 

[Colonel Ronan]

I think about 15 years ago my bank account was at zippo... living in apt... had credit cards, student loans etc... I say down and made a list of the things I wanted to accomplish... and what I would need to do to get there. Just having that list went a long way and I am in much greener pastures now.

So make a list of what you want... figure out what changes you need to make to get there. I only spend with debit card so I can import all the expenses into Quicken and see exactly where the money is going. I saw things like I was spending over $100 a month just in coffee! Yikes.

Consider your purchases very carefully... don't buy something on spur of the moment... consider the cost vs how much entertainment you will get from... and make very sure whatever it is is worth it.

A big asset you have Ronan... is a good job... good source of income. That is always valuable... but right now it can be downright enviable. Do what you can to make yourself more marketable so you can move up or to other oportunities. Make yourself invaluable.

Thanks for the great advice, Paxil.

I'm going to head down to the library after class tomorrow evening and make a list like you said. When you say "things I wanted to accomplish", do you mean financially or just in life?

I already know I'm going to be shocked at where most of my money goes so it will be interesting to see (sort of dreading it, to be honest!).

I feel like I would just buy whatever I liked when I went shopping for clothes instead of looking for the bargains/deals. No need to rush, I guess.

Yes, I'm very thankful for my job as it helped me move out and helped me become more independent. I want to capitalize on the opportunity as much as possible as many of the engineers at Sun were originally in my position and they didn't start as early as eighteen!

Thanks again.

 

[Colonel Ronan]

Get a second job, and you won't have time or energy to spend money. But if you do, you'll have enough money now. You can't lose either way.

Ha, that's a good point. Too bad I'm pushed for time as it is...

 

[Mamba]

I'm good @ saving for some reason. My mom has always taught me how to manage my money well. I use the change in the jar method (a handle of Jack Daniels, once it is full, roll it and deposit it).

This sounds like a crack head method, but I put $20-$50 from each paycheck, tips, birthday, Xmas, w/e money in an envelope that I leave in my room and forget about TBH. It works. You have to have the discipline not to spend that money if you keep checking the envelope, though. Once every 3 months or so, take a run to the bank and deposit it into a Savings account.

I guarantee you spend most of your money on food.

 

[Colonel Ronan]

Here are some really simple things that will add up.

--Don't eat out when you can eat at home. If you have friends eating out, join them for drinks afterward.

I feel like I would have a hard time doing that but I'll see how it goes.

--Don't buy processed food. Learn to cook with cheap ingredients--fresh vegetables, pasta, rice, etc.

I only know handful so a couple of more wouldn't hurt.

--When going out for the night, have some warm-up beers at home. You'll save the price of 4-5 beers you would have drunk in a bar.

Pre-gaming, FTW! I usually head out drunk and keep it at that.

--Always make your lunch. Never eat out at work.

Definitely a good point. Going to start doing that from now on which will help me save more than $50 per business week.

--Always make your coffee. Never buy it at work.

Luckily we get free coffee.

--Take 10% of your gross paycheck and put it into savings.

Definitely something I'm going to start doing. I'm going to SunTrust tomorrow afternoon to see if they have something to help out with that.

--Never spend your change. Instead, put it in a jar. Every few months, deposit that money in the bank.

Now this is a great idea. I can't begin to imagine how much change I waste.

--Pay for everything you can with a credit card and pay it in full at the end of the month. Not only will it categorize your purchases for you to track, but you'll get a free 30-day float.

Hm, interesting. I'll think about this, as well.



Thanks for the great tips, maxie.

 

[Colonel Ronan]

I'm good @ saving for some reason. My mom has always taught me how to manage my money well. I use the change in the jar method (a handle of Jack Daniels, once it is full, roll it and deposit it).

This sounds like a crack head method, but I put $20-$50 from each paycheck, tips, birthday, Xmas, w/e money in an envelope that I leave in my room and forget about TBH. It works. You have to have the discipline not to spend that money if you keep checking the envelope, though. Once every 3 months or so, take a run to the bank and deposit it into a Savings account.

I guarantee you spend most of your money on food.

What the fuck are you trying to say? I might be fat but that's taking it a bit too far.

Joking aside, that is a good idea. I like the JD one! I feel like I might misplace the envelope too badly though!

 

[Colonel Ronan]

I would like to thank torrents, though!

 

[Buzz Killington]

Become a hermit, live in your parent's basement and have no friends, social life, or leave the house. You'll have a huge stash of money.

 

[Colonel Ronan]

Become a hermit, live in your parent's basement and have no friends, social life, or leave the house. You'll have a huge stash of money.

That is the complete foil of my personality so no. Fuck that.

 

[Mamba]

What the fuck are you trying to say? I might be fat but that's taking it a bit too far.

Joking aside, that is a good idea. I like the JD one! I feel like I might misplace the envelope too badly though!

Ah yeah, I've torn my room apart looking for that envelope once!

I set goals with it. $500. I'll just put a little in it and check it every once in awhile. If it is @ $500 I'll go put $400 in the bank and restart.

And yeah, JD for the win :]

 

[Colonel Ronan]

Ah yeah, I've torn my room apart looking for that envelope once!

I set goals with it. $500. I'll just put a little in it and check it every once in awhile. If it is @ $500 I'll go put $400 in the bank and restart.

And yeah, JD for the win :]

Hm, so you basically put a hundred or so in every paycheck?

I fucking hate JD but if it's there...

 

[Colonel Ronan]

Google Dave Ramsey.com and check out his program, Financial Peace. It is Christian based but it's principles work for anyone. He is on cable TV and on radio. Many thousand have made his plan work.

Some of the principles include: making a budget and sticking to it, cutting up your credit card as you don't need them, pay cash for all planed budget expenses, and many other steps.

Hm, as long as he isn't too down your throat with the Christianity shit I'll give it a shot.

 

[Buzz Killington]

Reminder: the more money you make, the less you have to save!

holla.

 

[Mamba]

Ey! Bitch! Get that shit outta your sig! You like my cock.

And uh JD is no bueno to drink but a great bottle to save in.

 

[Eastoff]

I have the cable/internet bundle that I split with my roommates (four of us) that's $27/mo (each).

I pay ~$90/mo insurance for my '04 Jetta and it's about $40 to fill her up ($2.60 a gallon here) but I rarely do that. I usually just throw in $10 whenever I get close to E.

I'm still on my parent's health insurance but that will change once I turn 19 (next month) so that will be a bitch.

Then, $35/mo for my cell which is a must-have for work. ~$400 for rent & utilities.

No other subscriptions. No Netflix. Sometimes I get a movie from the Redbox which is $1 for a day.

how often do you cook for yourself? and if I may ask, what is your monthly income after taxes? Because I can't imagine if you have a legit IT job(that sounds like what you're doing) on that kind of budget, you'd be losing much money.

 

[Eastoff]

Definitely a good point. Going to start doing that from now on which will help me save more than $50 per business week.

THIS! THIS IS YOUR HOLE!

200$ a month on just lunch?!

 

[Colonel Ronan]

THIS! THIS IS YOUR HOLE!

200$ a month on just lunch?!

Yes, you're right.

 

[ehizzy3]

Stop buying condoms, they add up...just go raw dawg

 

[Buzz Killington]

THIS! THIS IS YOUR HOLE!

200$ a month on just lunch?!

A few years ago I was working insane hours at work, like 70-80 hour weeks. I'd spend about $40-50 a day on meals. Fucking crazy. Blew so much money that way. you know, fuck it, I was stressed and I needed to eat sushi for lunch instead of eating shitty lunch meat sandwhiches from home.

 

[Buzz Killington]

Does anyone keep food in their cars? I was thinking protein shakes...kind of healthy, pretty cheap....easy to use it as a meal replacement?

 

[Buzz Killington]

Not going out saves a SHITLOAD of cash. I think that's the worst part.

 

[Buzz Killington]

If you're a contractor, make sure you write everything possible off. You can write off books, magazines, clothes, gas, home office, cell phones, etc.

 

[Eastoff]

A few years ago I was working insane hours at work, like 70-80 hour weeks. I'd spend about $40-50 a day on meals. Fucking crazy. Blew so much money that way. you know, fuck it, I was stressed and I needed to eat sushi for lunch instead of eating shitty lunch meat sandwhiches from home.

you don't need shitty lunch meat sandwiches, you can make extra food for dinner and have LOTS of leftovers! I'm just starting to do this, and they taste quite a bit better than tv dinners and cheaper/healthier than eating out.

 

[The Professional Fan]

Hey everyone,

I've been working at Sun Microsystems (soon to be Oracle!) for about half a year now in their Control Center. I get paid a fair amount for my age and I'm extremely lucky to of had this opportunity. I feel like i used to be good with my money but in the past months I have grown to see that it is no longer the case.

I seem to spend my paychecks (I receive one every two weeks) almost instantly but I can't seem to think where it goes. I don't smoke marijuana any longer, I rarely drink (and if I do, I ain't spendin'!), I have a minimal amount of subscriptions, and the bills I have to pay aren't too great.

I actually seem to a pretty stingy mindset when it comes to spending money but maybe that is when it is for other people. When it comes to buying something for myself, I see myself buying shit almost immediately. Then again, I can't think of anything that I have spent money on that I now regret. Usually it is pretty generic items such as clothing, food, etc. but I still see my money disappearing.

So obviously, I'm having issues saving my money. I usually put away half of my pay check towards bills, gas, rent, necessities, tax and the other half is usually just "money." At this rate, I should have enough money to buy a brand new car but for some reason I just can't seem to save it.

I have a savings and checking account at SunTrust with the savings account currently not activated. Would setting up the savings account help me keep on to my money? I don't see how it would stop me from just buying shit with it as well. I have also signed up on Mint.com but I usually just delete all of the emails at it tends to clog up my corporate email and I rarely check my personal accounts.

I feel like I am sometimes pushing it when it comes to paying for things that I truly need (I was in the double digits after I had to get my car serviced) when I should have a comfortable cushion with the amount of money I am bringing in with little demand for fees.

On top of that, it feels nice to have a couple of hundred in the bank with no need to spend it, you know?

So, to the point: I'm looking for some helpful tips from anyone that will help me save my money. Anything will help. Checklists? Spreadsheets? Mental challenges? Whatever.

Thanks in advance.

I just got laid off from Sun in November. Fuck them. 12 years. If Oracle has any brains they will get rid of all the Sun management. But from what I can tell, they aren't. Which is a huge mistake. Bunch of cock suckers.

 

[Colonel Ronan]

I just got laid off from Sun in November. Fuck them. 12 years. If Oracle has any brains they will get rid of all the Sun management. But from what I can tell, they aren't. Which is a huge mistake. Bunch of cock suckers.

I understand you are bitter but I actually rate their management staff (that being the ones directly above me). I don't know much about the big wigs.

 

[The Professional Fan]

I understand you are bitter but I actually rate their management staff (that being the ones directly above me). I don't know much about the big wigs.

Yeah, I'm bitter. I outlasted 20 or so RIF's in my time there, and BAM, the last RIF before the acquisition I get cut. The management from my immediate boss all the way up to the VP of WWOPS (world wide operations - Cindy Reese) are fuck sticks. It wasn't always like this, mind you. It used to be a great place to work. I was a full time employee. They're going to the contract model. Only temps. Good luck with that. I hope Oracle can turn things around for them because I have a ton of really good friends still there and I want them to keep their jobs.