do you have enough money?

[StageLeft]

A well payed job would be a solution but that isnt easy to get.

Not so. Most people, as they get a greater income, simply increase spending. Unless you're so rich the market can't really price things high enough for you (like bill gates) you'll always have money problems unless you can control it, regardless of your income.

I would like more money, but although I make less than many millions of adults I also have no credit card debt and a now-growing savings account.

To save money is almost impossible,there is always things you wanna buy or do.

It's called willpower, and when combined with a knowledge that you'll always want more regardless of what you have, suddenly it seems less important to buy things, because you know it will never satisfy the gaping hole of greed that society has bred into you.

I'd love to be a millionaire, but money doesn't buy happiness.

exactly,but It can be so damn boring "living within your means" and that is the reason many people get a bad financial state as you call it(like me).spending money is easy and funny,to save is hard and boring but the smarter way.

Really it's not called being boring, it's called being irresponsible. I don't go and buy a new sports car today and a new bigscreen tv, and go on vacation this weekend. Not because I couldn't but because I'll pay for it later. What goes around comes around. The fun you have now will return to you later in the form of pain, specifically in debt and interest rates. I know and can mathmatically prove, that if I live at or below my means now and save money (making interest on it), instead of go into debt (paying interest on it), I can invest a small amount of self-restraint now, and it will grow into a larger return later.

Who would you rather be? Guy 1 who drives a $25k car now and will never be able to afford anything better OR Guy 2, who drives a $10k car now, but in 8 years he'll move up to a $20k, 8 yeasr later to a $30k, 8 years later to a $40k car, and before you know it he's driving his corvette on the weekends without a penny of debt. Meanwhile Guy 1 still hasn't mastered his personal finances and has little to no net worth. He worries about money all the time and can't cover his kids for college.

 

[Toasthead]

Originally posted by: ThaGrandCow
welcome to ATOT. This is an ironic first post for you since you're concerned about $$$ but you've just joined a community where you'll spend much of your time here when you really could be somewhere earning that cash

haha sooo true

 

[vi edit]

Originally posted by: Budmantom
Yeah

I don't think that finding a better paying job is always the answer, it's doing more with what you have, it's called money management. I don't have one friend who makes less than me, all of them have nicer vehicles when it comes to depreciating assets they have those, but when it comes down to having a nice retirement/appreciating assets I have them beat.

If you increased most people income they would buy bigger cars, bigger houses and be in the same situation that they are in now in a short amount of time. It's not always about living for the moment its about living within or under your means.

BINGO.

I think there should be a required class that all college freshman, and again as seniors should have to take called "DON'T BE A DUMBASS WITH YOUR MONEY". It would cover things such as short term, mid term, and long term investing. The difference between being able to afford something and being able to make payments on something, how not to get stupid with your credit cards, how buying a brand new car and trading it off every 3 years and eating the depreciation can kill you, what is a good credit score, what's a bad credit score and how you can improve it, what you should set away for retirement each month, ect.

Too many people had parents that weren't good with their money, or offered poor financial advice. At the college age, you are in a prime position to set yourself up well, or bury yourself in a hole.

 

[StageLeft]

I think there should be a required class that all college freshman, and again as seniors should have to take called "DON'T BE A DUMBASS WITH YOUR MONEY". It would cover things such as short term, mid term, and long term investing. The difference between being able to afford something and being able to make payments on something, how not to get stupid with your credit cards, how buying a brand new car and trading it off every 3 years and eating the depreciation can kill you, what is a good credit score, what's a bad credit score and how you can improve it, what you should set away for retirement each month, ect.

Too many people had parents that weren't good with their money, or offered poor financial advice. At the college age, you are in a prime position to set yourself up well, or bury yourself in a hole.

As always vi_edit is a good adviser for money matters.

Also as always, I will recommend to people to buy "The millionaire next door". If you have money problems/concerns buy it. If you read it and you don't end up changing your ways afterwards, well there is no hope for you. Awesome book and it literally turned me into an average financial moron, into somebody with a clue.

 

[Budmantom]

The millionaire mind is also good.

 

[vi edit]

As always vi_edit is a good adviser for money matters.

I'm a fast learner. I made some VERY stupid decisions while in college and freshly out. Had I been smarter, I would possibly have double the net worth that I do now. :frown:

 

[Aharami]

no i dont. give me money

 

[palle33]

Originally posted by: Aharami
no i dont. give me money

lol..no you give me.
anyway,I feel like a hopeless case,cant save and must borrow money from friends to make it every month.
I try to read that book "The millionaire next door".

 

[Budmantom]

Originally posted by: vi_edit

As always vi_edit is a good adviser for money matters.

I'm a fast learner. I made some VERY stupid decisions while in college and freshly out. Had I been smarter, I would possibly have double the net worth that I do now. :frown:

It's called learning from your mistakes, some people do and some don't....

 

[StageLeft]

Originally posted by: palle33

Originally posted by: Aharami
no i dont. give me money

lol..no you give me.
anyway,I feel like a hopeless case,cant save and must borrow money from friends to make it every month.
I try to read that book "The millionaire next door".

Well the longer it takes you to learn how to deal with your finances the less chance you'll have of ever having much networth or financial freedom.

 

[Workin']

Originally posted by: Skoorb

Also as always, I will recommend to people to buy "The millionaire next door". If you have money problems/concerns buy it. If you read it and you don't end up changing your ways afterwards, well there is no hope for you. Awesome book and it literally turned me into an average financial moron, into somebody with a clue.

"The Millionaire Next Door" is a good read and an eye-opener. Also I might suggest reading "Rich Dad, Poor Dad" - that book gave me so many ideas and so much motivation that it really changed my (financial) life and my view of money.

With the info from those books and others plus some hard work, planning, and self-discipline I am well on my way to financial security, after starting with literally nothing. I now have 2 businesses, a very nice house, several very nice cars, and money in the bank. I will say at this point I have enough money that it rarely is an issue. Of course more is almost always better.

Remember, those who say money isn't everything either have none or have a lot.

 

[DaveJ]

Skoorb and vi_edit, right on!

Life is all about priorities, whether they're financial or not. Most people live for the moment and don't stop to consider what might happen if they end up in a bad situation (loss of job, high medical bills, etc.). I'm the exact opposite, I'd rather plan for the future knowing that I'll be financially secure, even if it means sacrifices now. Despite that attitude, I still have many things... I'm 26, have owned a house for 2 years, have very little debt, and have some cool toys to play with. I couldn't ask for anything more.

Living within your means doesn't mean life has to be "boring" at all, if you think that way then you need to reduce your dependence on "stuff". New toys are cool, but getting them when you know you can't afford to is just stupid.

Dave

 

[BoberFett]

I would if I got to keep more than 35% of my income. By the time Uncle Sam and child support services take their cut, that's all I get.

 

[neilm]

Originally posted by: Reliant
I'm a student...do I need to say more?

 

[Budmantom]

Originally posted by: BoberFett
I would if I got to keep more than 35% of my income. By the time Uncle Sam and child support services take their cut, that's all I get.

The kid has to eat

 

[Booster]

do you have enough money?

Obviously I don't. Heck, I wish I had a little more of income. What I know for sure and it's buried deep in my brain is that I got no money and that money is something I can't have. Even when I started working a little over a year ago and was able to lay my hands on more money I ever frigging seen in my entire life I still have the same views and live by old standards and don't want to live like the others who make the same, travel abroad etc, b/c I know I can't really afford it.

 

[TallBill]

I'm very close to having enough.. but still far away. I owe my old school 4 grand still. With the Army and Gi bill now , I should even out quickly.

 

[amdskip]

I'm a college student who just works during breaks/summer. I would say that I am a rich college student compared to many students. I have a nice amount of stock and I have enough saved away so I don't have to work while attending school. I am extremely lucky in that my parents are paying for most of my schooling. I have earned all my money working retail at walmart and doing computer jobs on the side so its not like what I have was handed to me. I have saved my money and I own my own car.

 

[wyvrn]

Well a lot of my money is tied up in retirement funds and real estate. Their value won't be much for another 10 years. At that point, my wife and I will have some serious buying power. We will both be 39. I would say at that point we will be well ahead of the curve in both monthly income and net worth.

 

[DT4K]

I make 4 times as much as I did 5 years ago and still live paycheck to paycheck.
But I am better off.
I own a new home now, have less CC debt, can actually afford to pay all my bills on time (even if just barely), have full health insurance coverage, have a 401k with 7k in it after a little over a year of contributing(my comp matches 3% for my 5% contribution).
So yes, I guess I have enough money to live my average middle class life and support my wife and 3 kids. I wish I had more though for things like vacations, computer upgrades, a new suburban, a ski boat, a bigger house. But I am trying hard to enjoy what I have and not be obsessed with what I don't.

 

[Thraxen]

Clearly not... else I wouldn't sitting here at work

 

[BoberFett]

Originally posted by: Budmantom

Originally posted by: BoberFett
I would if I got to keep more than 35% of my income. By the time Uncle Sam and child support services take their cut, that's all I get.

The kid has to eat

If I had to guess by what I pay, I don't have a kid, I have a herd of elephants.

 

[StageLeft]

Originally posted by: BoberFett

Originally posted by: Budmantom

Originally posted by: BoberFett
I would if I got to keep more than 35% of my income. By the time Uncle Sam and child support services take their cut, that's all I get.

The kid has to eat

If I had to guess by what I pay, I don't have a kid, I have a herd of elephants.

Baby's momma gots to done care care herself too, you know!