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Posted: 8/16/2005 10:10:44 AM EDT
Ever since I've begun to seriously look at my finances and want to save money I've been spending next to nothing. From July 1st to this date I have only spent $49.25. In fact, I try to avoid spending money at all unless absolutely necessary. I went from $500 in my checking account in March to $3,700 currently.
The weird thing is, back when I had $500, I was cursing at myself for not buying guns I wanted when I had $2,000. I told myself if I ever get back to having a bunch on money again I won't hesitate buying what I want. Now that I have exceeded the $2000 I was talking about and am above it by quite a bit, the thought of spending the $1,600 or so I wanted for a gun or toy never occurs to me. I have no desire to drain out my checking again. Anyone know why this is true? 
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Posted: 8/16/2005 10:22:39 AM EDT
[#1]
I'm working on it. I sound like the one TV commerical where the guy is describing all the things his family has and then says "How do I afford it? I'm up to my eyeballs in debt." I need to fix that. I've cut down but nowhere near what you have. Any tips?
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Posted: 8/16/2005 10:22:46 AM EDT
[#2]
Just goes to show you there is a big difference between wanting and needing. We live in a society of luxuries. 300+ channels on our cable. Fancy cars and restaurants, etc. You really don't need that much to survive. It's mostly keeping up with the Joneses.
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Posted: 8/16/2005 10:25:45 AM EDT
[#3]
In 47 days you spent less than $50? I guess you don't have to pay rent, utilities, or buy food.
Must be nice. |
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Posted: 8/16/2005 10:27:22 AM EDT
[#4]
I've lived with my parents for the past year and a half... Saved about 10K, Spent most of it on the house I'm fixing up to move into next month. Better alternative than dumping my money in another apartment, and the parents like me around, especially since my mom threw her back out and can't lift anything over 10lbs. I mow the grass, help with laundry, clean the dishes and just try to make myself as invisible as possible while helping out. Now they don't want me to leave, but I gotta get out..
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Posted: 8/16/2005 10:36:34 AM EDT
[#5]
cancel cable - that's $600/yr right there. drive less/slower - saves on gas money, wear and tear on the vehicle, spend less. buy generic instead of name brand - food lion bread is a third the price of pepperidge farm or wonder. if you have a celfon, cancel your landline - that's almost $400/yr. it can be done... |
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Posted: 8/16/2005 10:59:17 AM EDT
[#6]
Hell no. I've been hurling money with a snow-shovel. We're doing major upgrades on the house.
I now owe twice as much on the house as what I originally paid for it. Thankfully, it's still worth quite a bit more than what I owe. |
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Posted: 8/16/2005 11:01:54 AM EDT
[#7]
The same way that if you were to actually save 30K for that new tahoe you've been wanting, there's no way in hell you would actually buy it. After saving all that money, the shiny new vehicle would seem like a frivilous waste. |
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Posted: 8/16/2005 11:06:37 AM EDT
[#8]
Obviously, you are not married.
 If there is money in the account, a wife will spend it (on the stooopidest shit) |
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Posted: 8/16/2005 11:32:57 AM EDT
[#9]
A bit, but only because I am saving for a house.
I already exercise fiscal responsibility. Years ago I restricted myself to a weekly "allowance" and the rest goes into the bank. I don't do impulse buys of anything that costs more than a magazine or two- I save for everything. We have no credit card debt and we're paying extra on our two vehicles and the house. We hope to keep the vehicles long after they're paid off too so that will be one less expense. Unfortunately I just got relocated at work and am now driving 3x as long to get to work. Just as gas prices hit new heights. Oh well... |
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Posted: 8/16/2005 11:44:37 AM EDT
[#10]
But then I can't impress the chicks. Welcome to my house this is your dinner, a couple crackers and we will be watching a move from 1980 because I'm too cheap to pay for TV or buy current movies.  I know what you mean and I could cut a lot of that out without having too much of an effect on my daily life. Right now I have to keep my landline phone because the Tivo requires it. I could get rid of the satellite, tivo, and landline phone and save a $100 a month. But at the moment my wants are still speaking louder than my needs. |
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Posted: 8/16/2005 11:46:39 AM EDT
[#11]
+1 |
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Posted: 8/16/2005 12:05:18 PM EDT
[#12]
As a married man I can offer you this advice....
Cutting out EVERYTHING will result in you being "that guy"..you know who he is, lives with the folks (age. 30+) still wears clothes that are from 10+ years ago. He plays video games all the time because he lacks any other means of entertainment. Do you guys have any clue how much PIE this fellow gets??? ZERO - NADA - NONE!!!!!!!!!!!! If you manage your finances and control spending you can have a lady or two and also be able to live comfortably. The key is not pissing your money into guns that sit in the closet. Staying out 4 or 5 times a week putting liquor in everything that walks. Keep a decent car but you do not have to buy every add on out there. Stop buying magazines...they add up quickly and with today's legal issues you VERY RARELY see the honest field test, or product evaluations. The magazines are basically catalogs of advertisements. Just use COMMON SENSE and you will be fine. |
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Posted: 8/16/2005 1:18:44 PM EDT
[#13]
OK, but what's the point? Do you have a goal in mind or do you just plan on dieing with all your money in the bank or mattress? Hell, I put 15% of my pre-tax pay away every week, but can't see much sense in living like a third worlder just for the hell of it. |
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Posted: 8/16/2005 1:26:23 PM EDT
[#14]
I have cut back drastically on expenses.
The only thing that I don't HAVE to spend money on that I do is basic cable TV. My daughter likes the cartoon channel on the weekends she's with me and I can't bring myself to tell her daddy turned it off while there's stacks of ammo, rifles, and pistols that I haven't played with in months in the closet. If it gets bad enough, I'll liquidate the stash. |
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Posted: 8/16/2005 1:29:53 PM EDT
[#15]
I finally took my wifes debit card / credit cards away. Switched banks and only have the acct in my name. I own my own company and my wife pissed away money for years without realizing it. I finally said you will change or you will be alone. It has now been about 3 months she has never been more happy. We have money in the bank and have saved about $7000 the past couple months. We still have a newer car bought thru a broker and paid about $4000 less than it booked for. We still go out to eat once in a while our latest resturant was Ruth's C Steak house pretty good place. We have 2 children, cable, cable internet and cell phones. We just plugged the leak which happened to be my wife.
If you want a bigger house and nicer things you don't have to live in poverty just be smart about your money. |
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Posted: 8/16/2005 1:36:03 PM EDT
[#16]
The Only Luxery we have is Internet.........DSL.........We dont go for rides in the mountains or eat out or any of that "fun" stuff........Taxes keep going up, fuel keeps going up.the only thing that has help is doing more over time at work.........................they keep threatening to stop that at any time. My Wife doesn't work as of yet because she is staying home taking care of our daughter........Child care runs between $100 -$150 a week around here if you can find it..............So life is good
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Posted: 8/16/2005 1:43:03 PM EDT
[#17]
The joys of living at home for the summer before returning to college. I help around the house to earn my keep 
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Posted: 8/16/2005 1:44:50 PM EDT
[#18]
No Gas money? No food? No hookers and Blow??  
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Posted: 8/16/2005 1:48:17 PM EDT
[#19]
Great. Now invest it in a Roth IRA mutual fund. |
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Posted: 8/16/2005 1:51:30 PM EDT
[#20]
I have been cutting back on stuff like food for the kids. I mean they are eating three meals a day plus snacks. I think if I feed them less they will grow less and I won't have to buy them clothes as often. |
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Posted: 8/16/2005 1:56:18 PM EDT
[#21]
$40 of the $49 was filling up my car one and a third times 
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Posted: 8/16/2005 1:56:52 PM EDT
[#22]
Already put in the max for this year 
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Posted: 8/16/2005 2:09:44 PM EDT
[#23]
Good for you!  There was an article on MSN.com a few weeks ago that said the savings rate in the US dropped to 0%. You're in much better shape than the average American now.It's been said that if you think of money in football terms, not everyone can have a great offense (e.g. 2001 Rams) but everyone can have a great defense (2000 Ravens). You're well on your way to becoming the Ed Reed, Ray Lewis and Co. of finance. |
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Posted: 8/16/2005 2:12:13 PM EDT
[#24]
Chloroform is cheaper. "Hey, does this rag smell like chloroform to you?"
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Posted: 8/16/2005 2:19:07 PM EDT
[#25]
Think about how the millionaires got there, those folks scriped and saved, then one day they hit it big.
I would cut out things that you have the most control of that is eating out. Quit eating out so much, besides being unhealthful, it is really expensive even at the local Mickey Dees. It takes about 2 hours to eat out. Learn to eat at home. Even if you prepare the most simplest meals, it is far better than eating out. You can prepare some simple stuff at home for about an hour and you've gained yourself an hour worht of time to do something else. How much does a steak dinner cost at your local eatery? You can probably feed everybody in your house for the cost of one meal in a resturant. Sure you're going to get a few overdone ones but after a while you will learn how to cook those things. I wash my own clothes, everything I that I can wish I wash it on gentle cycle and cold water. Clothes will last a lot longer because they don't wear and colors don't as fast. And I line dry my clothes whenever possible. Think about where all of that lint that gathers in your clothes dryer's lint filter comes from. I've worn my blue jeans and t-shirts for years, my wife gets tired of seeing me in that clothes. Next pay down your credit card balances ASAP with all of the money you save from eating out and buying clothes. Try renting movies instead of going to the local movie house whenever possible. I'm not saying don't do this and don't buy that, miminize. You will end up with a bunch of money in your pocket, and maybe an extra toy or so in the gun cabinet. |
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Posted: 8/16/2005 2:19:23 PM EDT
[#26]
Good Job!
For a lot of folks it is the opposite; they say there is going to be an enormous rush to file bankruptcies in America before the October 15 Deadline. |
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Posted: 8/16/2005 2:24:24 PM EDT
[#27]
Shit i try to save now but i seriously dont know where the hell my money goes!!!
 I gotta stop eating out..gotta stop buying everything and anything for my guns...Plus the GF's Birthday is commin up  .i need some damn self control..Plus it takes 60.00 to fill up my truck!!!!! |
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Posted: 8/16/2005 2:24:47 PM EDT
[#28]
Live with your parents? |
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Posted: 8/16/2005 2:26:14 PM EDT
[#29]
You did good. I've lived at home for a long time with my mom & dad, and saved a bunch of money. The point is spend you wise money to get the most out of it. Of course if you can avoid paying econmic rent by all means do so. |
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Posted: 8/16/2005 2:32:07 PM EDT
[#30]
This is an attitude that is quite common. Dave Ramsey of the radio 'Money Game' fame, talks about it fairly often. People that have paid off their mortage, saved hundred of thousands of $$, can't bring themselves to buy things they want. He has a simple solution. Since you probably wrote out a budget, you know exactly how much is coming and going. Set aside, in an envelope, exactly what money you are comfortable allowing yourself to spend. When the time comes, psycologically their is no pain in spending that money that was allocated for your wants. Great job, keep it up
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Posted: 8/16/2005 2:36:33 PM EDT
[#31]
Good point. If everyone ANNUALIZED what they spend on trifles, they would be surprised at what they could save. 2.00 cup of Starbucks vs .40 to brew at home *5 days *50 weeks, or whatever. Sack lunch vs. 4.00-5.00 to eat out. Then figure out what you have to earn pre tax to see what it really costs. That 600 for cable / 1- your tax rate = 857.00 @ a 30% rate. How long do you save your check stubs or returned checks if you're still electronic? Go back 3 or 4 years, flip thru them and see if you can even remember what they bought, much less if you still have it. It's probably broken in a heap out in the garage, |
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Posted: 8/16/2005 2:39:40 PM EDT
[#32]
No digital cable.
One car. Buy groceries twice a month in bulk packages. One tank of gas a week. Then I blow it on tobacco, latte's and ammo.
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Posted: 8/16/2005 2:45:50 PM EDT
[#33]
Most people don't get rich by spending money hand over fist.
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Posted: 8/16/2005 2:49:18 PM EDT
[#34]
Quit drinking and started brown bagging to work so I could afford to send the kids to preschool.
Quit leadfooting it to work everyday and spend about 23% less in gas every month. Reduced my cell plan to match the actual minutes used. Spend my vacations doing home improvements. Cut my ammo expenditures in half by conducting dry fire training at home every other weekend. Stopped buying computer games, a waste of time and money. Do my own yard work. Have not bought a new firearm since January (shudder). |
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Posted: 8/16/2005 3:01:19 PM EDT
[#35]
You don't have to buy the computer games, just rent them. My children rent them all of the time, and they get tired of it pretty soon and back it goes. When I do my yard work, I stop and have a chat with my neighbors, that is really nice to do. |
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Posted: 8/16/2005 3:06:36 PM EDT
[#36]
At my age, computer games are a waste of time; the expense of $40 is mostly irrelevant. Chatting with the neighbors is the highlight of yardwork. Both my neighbors are bigtime gun nuts, although ones into flintlock the other into cowboy action. |
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Posted: 8/16/2005 3:50:12 PM EDT
[#37]
I don't quite go that far, but I was surprised at how much stuff I haven't seen around my city/state locally. No need to travel thousands of miles to somewhere else. Funny, I find that tourists know my area better than I do, beause they ask me have I been to......, I'm going there tomorrow etc. I haven't been there in many many year since I was a kid. I live in the so. Calif area, and touristsc come here to see the beaches, mountains, museums, Hollywood, camping etc. So much to do and cheap that there is no need to go anywhere really. |
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Posted: 8/16/2005 4:13:08 PM EDT
[#38]
With my mom for the summer until college starts up again in 2 weeks. When I graduate I'll hopefully find a decent paying job and an apartment of some sort with included utilities that doesn't break the bank, then I'll put just about 95% of all my earnings aside and live on Ramen Noodles, not out of necessity, but in order to have more $$$ to put away. 
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Posted: 8/16/2005 4:43:38 PM EDT
[#39]
A penny saved is a penny earned. Nothing spurs saving more than the realization of all we spend on waste. Budgeting really is useful to everyone. Sticking with a budget is almost like giving yourself a 10% raise. |
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Posted: 8/16/2005 5:59:54 PM EDT
[#40]
Budgeting (keeping track of your expenses) is step #1. Have you tried paying for all expenses using your debit card so you have an itemized statement at the end of the month? Me, I try to put everything on my credit card (I pay off the card every month) to get the cash rebate and also to keep track of expenses. |
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Posted: 8/17/2005 8:35:31 PM EDT
[#41]
Oh man, I spent bigtime today. Bought 2 SOBE drinks and 2 slices of pizza for a total of $7.24.
The sad thing is it took me going by at least 5 convenience stores and debating whether I wanted to spend the money or not. The tiebreaker was the fact that I missed the boat back to the island I live on so I had nothing to do.
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