And you thought you had it bad

[seaside2]

50% is currently beyond my reach, but a great savings tool is to have a fixed percentage of your paycheck automatically sent to a savings account.

You don't have to think about saving it and don't think to spend it because it is never part of your checking account balance. Adds up fast, depending on your salary and the percentage, you can have saved a couple grand by the end of the year - plus interest!

Scooter, I wasn't suggesting that you save the 50% (although that is a grayt idea). It is more of a philisophical approach to life. What happens to most people, men especially, is that we want to have the biggest and best of everything. we see our neighbors get a new car and we want a bigger new car, and on and on it goes.

I applaud your automatic savings plan. It works. A person should take one night a week and spend it loking at his/her investments, how they are performing, etc. Make informed decisions, read about the investment arena that you are in. Social Security is not going to be around much longer and it is up to the individual to provide for himself/herself.

 

[scooterbug44]

I meant that living like I only make 50% of my salary is not doable w/ my current income and desired standard of living. If I could save 50% of my pre-tax income I'd be on the financial news, but doing my sowaling at the library before I biked home to my condemned single wide.

The automatic savings plan was a great suggestion from our office manager who was quite familiar w/ my procrastination tendencies and many good intentions that fall by the wayside once effort & distractions come into play ;-).

 

[seaside2]

I meant that living like I only make 50% of my salary is not doable w/ my current income and desired standard of living. If I could save 50% of my pre-tax income I'd be on the financial news, but doing my sowaling at the library before I biked home to my condemned single wide.

The automatic savings plan was a great suggestion from our office manager who was quite familiar w/ my procrastination tendencies and many good intentions that fall by the wayside once effort & distractions come into play ;-).

That's the kicker!!! None of us are willing to do that. We (Self included) want it NOW!!!! Damn the interest rate, full charge ahead!

As soon as we figure out that what is really important cannot be bought, we will all be much the better off.

End of rant, soap box back under bed.

 

[SHELLY]

As soon as we figure out that what is really important cannot be bought, we will all be much the better off.

With any luck, it will happen before one finds themself living in a broken-down minivan under a bridge subsisting on cat food and government cheese.


.

 

[Capricious]

"...With any luck, it will happen before one finds themself living in a broken-down minivan under a bridge subsisting on cat food and government cheese..."



!!!?????

How did you get my address ??

 

[scooterbug44]

As soon as we figure out that what is really important cannot be bought, we will all be much the better off.

Very true! I put "desired standard of living" in as a qualifier because I do spoil myself a little bit - but I do it while still keeping my financial priorities in order, not by racking up debts and draining my bank accounts.

 

[Capricious]

"...still keeping my financial priorities in order, not by racking up debts and draining my bank accounts. ..."



It's a bummer doing without all the little things other people have:

High-speed internet
Cable TV
Cell phones
Dinners out
The latest clothes
Starbucks coffee
etc. etc.


But its a real trip to walk into a car dealership and buy a new
car for cash.

And it's a bigger trip to walk into a title company and close on
real estate purchased for cash.

I have done both.

The wife and I put aside about 35% of gross.

 

[elgordoboy]

"...still keeping my financial priorities in order, not by racking up debts and draining my bank accounts. ..."



It's a bummer doing without all the little things other people have:

High-speed internet
Cable TV
Cell phones
Dinners out
The latest clothes
Starbucks coffee
etc. etc.


But its a real trip to walk into a car dealership and buy a new
car for cash.

And it's a bigger trip to walk into a title company and close on
real estate purchased for cash.

I have done both.

The wife and I put aside about 35% of gross.

Buy a two year old car and enjoy some of those "little things" other people have.

 

[Capricious]

"...Buy a two year old car and enjoy some of those "little things" other people have..."


At this stage of our lives (I'm 48) and at this level of
net worth, if the wife wants a new car to replace the
one we bought for cash in 1996, she gets it.

Besides, you can't hardly buy a (2) year old car for it's
true worth.

A private party usually owes too much to sell it for the depreciated
value, and a dealer wants a preminum price.

 

[scooterbug44]

The look on a car dealer's face when they start their financing spiel and you just say "no" and take out a checkbook is priceless isn't it?

I don't have high-speed internet and I'll finance a good portion of my next real estate purchase.................but I think that's a fair trade off for being able to leave the house for dinner, watch a variety of TV shows, chat on my cell phone, and take great vacations.

Kudos on your thriftiness, but it sounds like you might be denying yourself too many things - so many great experiences may have a price tag, but the memories and joy are priceless!