Discussion in 'Miscellaneous' started by ArcherNX01, Jun 13, 2018.
No. We know how to budget.
Given the minimal content of the original post, how is that inferred?
OK, fine I didn't lol.
But it's quite common:
I'm retired and fairly well off but I stick to a budget with limits on how much I am prepared to spend on non-essentials per month. Money can burn a hole in people's pockets far too easily. It's a good sign of self control to be able to stand back and reflect if you really need an item or whether you are merely feeding the temporary release of dopamine or a similar addictive reward neurotransmitter in your brain.
Well, I will stick to my original answer as I get the impression you're not after a genuine answer/discussion.
I am pretty good at budgeting so I can usually make my pension last a fortnight without difficulty. I don’t own a car which makes budgeting easier.
I do have an emergency fund but I usually only use it for 1) unexpected vet bills 2) if a fridge or washing machine needs replacing. I did however use some of my emergency fund last year to help a friend pay for her sister’s funeral.
I once had a job where i got paid monthly when i was about 23. Being young and a bit irresponsible at the time, the end of the month was always a struggle. The jobs i've had since then paid fortnightly and weekly so i've never had any troubles plus i'm in my thirties now and more responsible with money.
I wish I was paid weekly, it would be much easier.
Yes! But for me live like a king means treating myself to a large drink feom Starbucks. Then I pay bills, set aside money for groceries and gas and put what I can into savings.
I put a very large portion of my paycheck into savings, I have long term like for retirement, and I have emergency funds, and I have "fun" money I save up, and I have savings for my nieces. Oh and I also have like real short term ones, like for paying my bills for when they'll be due, like my mortgage, insurance, water bills, and my property tax and all those things. So I guess I'm living very evenly, but it's just from like planning things out long term.
I do know my mother lives on disability, and she spends everything in like 10 days, and then she struggles ever so desperately getting through her month after that.
@Sophie74656 Oh dear I do recommend saving first before anything else! What I do is I have my savings taken right off of my direct deposit, so it's like not even part of my paycheck, and you'd be surprised how you can adjust. What I did was I started small, and increased each year, and it's surprising after a few years you don't even notice you're missing that money and your savings just grows and grows wonderfully.
I'm no where near sensible enough to put money into savings.
I put aside money for the bills but basically blow the rest.
I do that. I have a set amount that automatically goes into an account that's a pain to access...so i don't touch it. I have a secondary savings account that i try to put money in after everything is paid for
No. I try to save for any emergencies/future after the bills. I still have fun, but we went through a phase where jobs weren't secure (and I'm unconfident in interviews) so planned for having a rainy day fund.
Depends what living like a king means.
We do ok and have a level standard of living across the month, but we’re still susceptible to financial shocks and don’t save as much as we should.
This month we had to buy a new car unexpectedly, so it’s student food for till payday.
No. My husband and I make a lot of money, but we also live in a super HCOL area and have two small kids that we would like to send to college. We have very little debt and want to keep it that way.
We are pretty frugal in our day to day, save a lot and put a ton towards retirement. Our gold standard is to keep at least 6 months of our total monthly expenses in savings. It is not always doable, but it is rare that our savings dips below 45k. It is not ideal, but I can live it. We will splurge on several trips a year, depending on our credit card miles.
I didn't know those two words could be used together.
Wait, is there a phase where jobs are secure??
I used to be as careful as having a husband who spends a lot allows. After my brother died I realised he lived like a King as long as he could. So I don't care so much any more. He died too early and if I do too... then stuff it. I'm not going to penny pinch.
From observation, many, if not most, wealthy people that I've met are tightwads. Pecuniary caution gets to be habitual - much like being a spendthrift. I've only met millionaires though. Perhaps billionaires are less frugal.
I think there is a big difference between richness of lifestyle and the legacy of a bank balance.
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