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Posted: 3/3/2015 8:02:14 AM EDT
[#1]
Zero, because you then spend it on spinners, an escalade and hair weaves.
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Posted: 3/3/2015 8:22:00 AM EDT
[#2]
Poll fail. What's your gross income? A guy making $20K a year still would only be able to save a small portion....$250K per year and you could save 90%.
BL is that you should be able to save exactly what you were saving before this opportunity excepting you should also be able to save those monies that you would have spent on the items you mentioned; rent, cable, etc... |
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Posted: 3/3/2015 8:24:47 AM EDT
[#3]
I save about 30% right now with all those bills.
I'm guessing anyone who asks that question does not save shit. |
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Posted: 3/3/2015 8:25:02 AM EDT
[#4]
I was actually recently in this exact situation when I got sent to Canada for work. All of my expenses were covered. I saved about 55% of my take home pay. I should have saved more, but I bought a lot of guns and climbing gear.
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Posted: 3/3/2015 8:29:33 AM EDT
[#5]
After all NEEDS are covered (food, shelter (rent/power/water), the rest is in the "wants" pile.
50% gets saved: 50% of that in tangibles (ammo, gold, machine tools) The other 50% in cash or cash equivalents. Its a good system. |
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Posted: 3/3/2015 8:31:19 AM EDT
[#6]
Debt free, sounds like most ARFCOM basement dwellers and that their mother is happy they finally left the basement and got a job.
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Posted: 3/3/2015 8:32:28 AM EDT
[#7]
Quote HistoryQuoted:
Zero, because you then spend it on spinners guns , an escalade ammo and hair weaves magazines. Fixed |
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Posted: 3/3/2015 8:34:57 AM EDT
[#8]
Save half.
Enjoy the other half. |
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Posted: 3/3/2015 8:35:37 AM EDT
[#9]
Depends on your age, income and what you already have saved. If you're young you'll gain the most from saving all you can. Compound interest over a long time frame in the stock market equals a huge return on what you save. Investigate that, you'll think twice before buying stuff you don't need.
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Posted: 3/3/2015 8:49:41 AM EDT
[#10]
If I could live for free, I could bank 75% of my take home, and still live comfortably.
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Posted: 3/3/2015 8:58:26 AM EDT
[#11]
In a similar situation I'd be looking at saving 80% or more. However, that really doesn't apply because you're not me.
You need to sit down and evaluate your goals and lifestyle. There are all kinds of resources online like that Mr. Mustache guy or the earlyretirementextreme.com site that deal with saving a significant amount of your income. You need to decide how far down that rabbit hole you're willing to go. Speaking for myself, I live a fairly austere lifestyle and I find it very rewarding. |
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Posted: 3/3/2015 9:01:01 AM EDT
[#12]
I'd do 75%
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Posted: 3/3/2015 9:03:18 AM EDT
[#13]
Quote HistoryQuoted:
Poll fail. What's your gross income? A guy making $20K a year still would only be able to save a small portion....$250K per year and you could save 90%. BL is that you should be able to save exactly what you were saving before this opportunity excepting you should also be able to save those monies that you would have spent on the items you mentioned; rent, cable, etc... That's why the poll is in percentages, I know it's not perfect and understand what you're saying. I live in a high cost of living area and by not paying rent I can save a butt load, rent expense equals 40-50 percent for most around here. I've never budgeted before and just throw a bunch into a retirement account and blow the rest. |
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Posted: 3/3/2015 9:04:39 AM EDT
[#14]
Quote HistoryQuoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. |
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Posted: 3/3/2015 9:11:17 AM EDT
[#15]
Quote HistoryQuoted:
That's why the poll is in percentages, I know it's not perfect and understand what you're saying. I live in a high cost of living area and by not paying rent I can save a butt load, rent expense equals 40-50 percent for most around here. I've never budgeted before and just throw a bunch into a retirement account and blow the rest. Quote HistoryQuoted:
Quoted:
Poll fail. What's your gross income? A guy making $20K a year still would only be able to save a small portion....$250K per year and you could save 90%. BL is that you should be able to save exactly what you were saving before this opportunity excepting you should also be able to save those monies that you would have spent on the items you mentioned; rent, cable, etc... That's why the poll is in percentages, I know it's not perfect and understand what you're saying. I live in a high cost of living area and by not paying rent I can save a butt load, rent expense equals 40-50 percent for most around here. I've never budgeted before and just throw a bunch into a retirement account and blow the rest. Wasn't trying to bust your balls....so you should be able to comfortably ave 40-50% more than you currently are. The key is to do just that. Something I learned early on was to live below your means. Reward yourself with some ammo or something but then budget to save the rest. When I bought my last home the mortgage was about 18% of my gross. By the time I paid it off the payment was under 5% due to significant salary increases. Those monies saved weren't used to dramactically change our life style but rather they were saved and invested. Now at 56 I could comfortably retire. The problem that I'm having is that I'm having too much fun and they pay way too much money to quit. I have slowed down though still working, on average 20 hours a week. |
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Posted: 3/3/2015 9:13:11 AM EDT
[#16]
86%
current saving rate is 67% which all goes to the morgage |
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Posted: 3/3/2015 9:17:13 AM EDT
[#17]
Pretty much debt-free. Two checks a month, and one I direct deposit into savings, and live on the other one comfortably (unless I blow it on guns and stuff).
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Posted: 3/3/2015 9:28:34 AM EDT
[#18]
Save whatever you would have spent on rent, et cetera.
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Posted: 3/3/2015 9:28:35 AM EDT
[#19]
I assume You want to own a home one day, maybe not. Take whatever you were paying for all of those things and split it into different savings pools. Not knowing how many months you have saved up to live on cash, what pools you put things in Depends a lot on what you have already. Impulse control today, have fun tomorrow.
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Posted: 3/3/2015 9:29:01 AM EDT
[#20]
How old are you?
I have lived rent free all my life and I haven't saved shit. DON'T be an idiot like me. If I saved 50% of what I made all these years....I could pay cash for a house 
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Posted: 3/3/2015 9:37:09 AM EDT
[#21]
Easily 75%.
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Posted: 3/3/2015 9:41:25 AM EDT
[#22]
Don't live like you are homeless but save as much as possible. You won't always be living rent free, you won't always have that job, and you will eventually buy a house, have a family, and have an emergency. The more you bank now, the better off you are later. Whatever you do, avoid debt like the plague. If you are able to save enough now you may be able to buy your next car, or your house, without a loan or with a much smaller loan.
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Posted: 3/3/2015 9:43:24 AM EDT
[#23]
Quoted:
This morning I thought about coming up with a strict budget and saving as much as possible. What would you do? Come up with a strict budget, and save as much as possible. |
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Posted: 3/3/2015 9:53:14 AM EDT
[#24]
Quote HistoryQuoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. That's what I do... Maybe 35% if you count everything. |
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Posted: 3/3/2015 9:54:28 AM EDT
[#25]
Simple. Bank what I would normally have paid for said living expenses.
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Posted: 3/3/2015 10:19:44 AM EDT
[#26]
Save whatever you would pay for all the things you are getting for free, that way you will be used to those expenses when he boots your ass out and your lifestyle won't change.
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Posted: 3/3/2015 10:49:01 AM EDT
[#27]
I save a fair amount, 15 percent pretax staright into a retirement account then what I can into a brokerage account.
Rent used to be 39 percent of my take home pay; add utilities, cable/internet, car insurance, cell phone and that almost 46 percent of take home. The cost of living around here is insane and I think I make decent money. |
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Posted: 3/3/2015 10:50:40 AM EDT
[#28]
Quote HistoryQuoted:
Come up with a strict budget, and save as much as possible. Quote HistoryQuoted:
Quoted:
This morning I thought about coming up with a strict budget and saving as much as possible. What would you do? Come up with a strict budget, and save as much as possible. Never done it before, never even put together a budget. I'm 31, been out of college four years, and been saving for retirement four years. Which sucks. |
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Posted: 3/3/2015 11:00:34 AM EDT
[#29]
At .2% interest you would be losing at minimum 1.8% per year. If we only had a 2% inflation rate like Obama is trying to tell us. The system is rigged against saving right now.
 Buy 855......
Or put it in the stock market while it's being propped up. Best deal going right now. |
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Posted: 3/3/2015 11:07:02 AM EDT
[#30]
I'm addicted to buying shit so not nearly as much as I should but I do manage to save more than most.
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Posted: 3/3/2015 11:10:21 AM EDT
[#31]
Quote HistoryQuoted:
Never done it before, never even put together a budget. I'm 31, been out of college four years, and been saving for retirement four years. Which sucks. Quote HistoryQuoted:
Quoted:
Quoted:
This morning I thought about coming up with a strict budget and saving as much as possible. What would you do? Come up with a strict budget, and save as much as possible. Never done it before, never even put together a budget. I'm 31, been out of college four years, and been saving for retirement four years. Which sucks. It sounds like you have a great opportunity. How long will you be able to live there? And how long do you want to work when you are an old man? Some folks plan on working until they drop dead, others want to retire as early as possible. |
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Posted: 3/3/2015 11:14:14 AM EDT
[#32]
It would cost me more in the long term, because where I've been living (renting) for 10 years is all bills paid, safe, and way cheaper than anything else reasonably equivalent. Any move would increase the cost of someplace to live (with utilities, taxes, and internet) by 2x -3x. I'd need to be able to stay in the friend's place for 7-10 years--until my fiancee has her PhD and postdoc(s) and we're ready to leave the city for a professor position someplace else.
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Posted: 3/3/2015 11:14:48 AM EDT
[#33]
Everything that went towards those utilities +25%.
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Posted: 3/3/2015 11:15:48 AM EDT
[#34]
15% of my pay goes to post-tax investments. 6% pre-tax. That is the minimum. Dropping all household expenses would only free up 20% of my take home pay (after savings). So.... 50-75%? I like to live well below my means.
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Posted: 3/3/2015 11:36:11 AM EDT
[#35]
Quote HistoryQuoted:
It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. Quote HistoryQuoted:
Quoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? |
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Posted: 3/3/2015 11:44:27 AM EDT
[#36]
Quote HistoryQuoted:
Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? Quote HistoryQuoted:
Quoted:
Quoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? not really, let's say you make minimum wage and just starting out. Now if you make 250k and are spending 10k on housing you need to reevaluate your life. |
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Posted: 3/3/2015 11:50:17 AM EDT
[#37]
Quote HistoryQuoted:
Zero, because you then spend it on spinners, an escalade and hair weaves. might as well be me spending it on that shit
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Posted: 3/3/2015 11:59:55 AM EDT
[#38]
Quote HistoryQuoted:
Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? Quote HistoryQuoted:
Quoted:
Quoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? Where I am if you make 50k you will likely be spending about 50% of your income on housing unless you live with a girlfriend or something. |
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Posted: 3/3/2015 12:02:31 PM EDT
[#39]
An easy metric would be to save what your friend's generosity is saving you: rent + utils. Be nice to yourself, give yourself a tithe. Get rich.
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Posted: 3/3/2015 12:32:04 PM EDT
[#40]
I would save pretty much every dime beyond my expenses.
Somehow I doubt this arrangement will last forever. Live frugally and squirrel every dime away for a down payment on a house and retirement while you can. |
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Posted: 3/3/2015 12:47:48 PM EDT
[#41]
Quote HistoryQuoted:
Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? Quote HistoryQuoted:
Quoted:
Quoted:
I save about 30% right now with all those bills. I'm guessing anyone who asks that question does not save shit. It's tough to save when you're paying almost 50 percent in rent. I throw a lot of pretax dollars into a retirement account and have a few grand in a brokerage account. Well no matter how shitty rent is where you live you should not be paying paying 50% of your income in housing. That's crazy. I'm glad you are saving. I'm just saying that you might want to make some changes or end up living like most Americans which is paycheck to paycheck. So are you going to take your friend up on this offer and try to save money or just check out ARF new toy threads and buy cool toys? I don't want to get into a bunch of details but most my coworkers pay 1800+ for a nice, fairly new, one bedroom apartment. My apartment is 600 sq ft, sort of run down, I paid less (not substantially less), and watched them erect these two towers directly in front of me. People think that location is too far out, which is one of the reasons why I picked it. Housing costs out here are crazy, especially if you're single. BTW I make good money for a guy out of college 3.5 years, it's doable out here. 
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Posted: 3/3/2015 12:55:19 PM EDT
[#42]
Quote HistoryQuoted:
I would save pretty much every dime beyond my expenses. Somehow I doubt this arrangement will last forever. Live frugally and squirrel every dime away for a down payment on a house and retirement while you can. i'm going to go with this because if i don't it is guaranteed at some point in the future i would wish i had |
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Posted: 3/3/2015 12:57:34 PM EDT
[#43]
I did that exactly before I bought my house.
I lived on a houseboat, and my total monthly expenses were $350. Yes, total. I saved over 85% of my take-home pay by living in voluntary poverty. Two years later, I had $100,000. |
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Posted: 3/3/2015 1:14:56 PM EDT
[#44]
I'd probably save 60%.
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Posted: 3/3/2015 1:28:41 PM EDT
[#45]
Quote HistoryQuoted: Zero, because you then spend it on spinners, an escalade and hair weaves.    |
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Posted: 3/3/2015 2:19:44 PM EDT
[#46]
I live on 50% of my net income at present. Taking away my overhead would be.....hell i don't know, 90% ALL MINE? I'm working on free beer and cigars. Free fuel would be great, as well as free pick-up truck and free steak dinners. I would be the King of Free Shit
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Posted: 3/3/2015 3:40:40 PM EDT
[#47]
Quote HistoryQuoted:
I did that exactly before I bought my house. I lived on a houseboat, and my total monthly expenses were $350. Yes, total. I saved over 85% of my take-home pay by living in voluntary poverty. Two years later, I had $100,000. I can do this for as long as I like, it's a family member that has an extra house about an 1.2 hours away (2+ sometimes with traffic), they use slingbox and have cable and internet hooked up free of charge. I tried figuring out how much I could save over two or three months but damn 2 years, that'd be something else. |
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