I need to save $600/mo

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Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
I clear about $950/mo.

Is there anything I can do, outside of putting my money in savings, to help build interest more quickly? I need to have about $10,000 by next August (that's my target). Would a CD be appropriate?

I'm thinking about getting rid of my TV and possibly my internet connection. I was also considering taking a part time job to help out. If I could save $1000/mo, that would be awesome.

I have $500 left on my medical bill. Other than that, my bills are:

Rent- $150
Cable/Internet- $100
Phone- $20
Food- ~$200
Gas- $15
Car insurance-$72

If I got rid of the cable/internet, I'd have about $493/mo that I could save. I work about 45 hours per week.

What would you do?
 
H

Heisenberg

Lifer
Dec 21, 2001
10,621
1
0
You need to save up $10,000 in less than a year!?
Hmm...what are your views on male prostitution?
 
D

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
INGDirect.com for savings, they're paying more than any 1-year CDs, which you couldn't get anyway since you need to put the money into the CD at the start of the term.

Nothing else for savings that's safe, anything that pays more than ING's 2% is going to be gambling of one kind or another where you could lose some, most, or all of your savings.
 
G

Ghamu

Member
Jun 12, 2002
132
0
0
Originally posted by: Chaotic42
I clear about $950/mo.

Is there anything I can do, outside of putting my money in savings, to help build interest more quickly? I need to have about $10,000 by next August (that's my target). Would a CD be appropriate?

I'm thinking about getting rid of my TV and possibly my internet connection. I was also considering taking a part time job to help out. If I could save $1000/mo, that would be awesome.

I have $500 left on my medical bill. Other than that, my bills are:

Rent- $150
Cable/Internet- $100
Phone- $20
Food- ~$200
Gas- $15

If I got rid of the cable/internet, I'd have about $565/mo that I could save. I work about 45 hours per week.

What would you do?
Click to expand...

Your rent is only $150 a month!!! ...wow

 
B

bjc112

Lifer
Dec 23, 2000
11,460
0
76
Originally posted by: Heisenberg
You need to save up $10,000 in less than a year!?
Hmm...what are your views on male prostitution?
Click to expand...

HAHAHA...

600 a month is a lot, don't strap your self..

Do you HAVE to have 10k? Small loan?

Even if you saved 6500 - 7k ... Take a 3k Loan..

You will regret putting yourself under that..
 
G

Ghamu

Member
Jun 12, 2002
132
0
0
What do you do for your job? and why is your internet so much? If you share place, why arn't the others helping the cable/internet bill? And you can still post ATOT on dialup, sad as it maybe.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
Originally posted by: Ghamu
What do you do for your job? and why is your internet so much? If you share place, why arn't the others helping the cable/internet bill? And you can still post ATOT on dialup, sad as it maybe.
Click to expand...

-Radio On-air/Networking/Produciton
-$50 Cable modem/$50 TV
-The other guy pays the water and power bills
-I don't know about getting dial up, I can post from work
 
G

Ghamu

Member
Jun 12, 2002
132
0
0
..pretty sure he meant he can save that much in a month, if he didn't, yeah, get a better job.
 
I

imported_Mike

Lifer
Dec 4, 2002
18,211
1
0
ditch the cable tv, you can get an antenna for cheap & get the main stations. $50 for the intraweb is way to much. Although you probably have some package deal with the tv, when you get rid of the tv connection, you can switch to dsl for $30, or dial up for $10 a mo. Depends how important the intraweb is to you.. :p

CDs are more long term, I doubt you would get a good return on a <year CD. A part time job would be good, I dunno what you might get into there, hopefully you were not thinking a minimum wage job.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
Originally posted by: Ghamu
..pretty sure he meant he can save that much in a month, if he didn't, yeah, get a better job.
Click to expand...

I clear $950/mo after taxes/insurance. I have $950/mo to live on.

There are no local stations that can be easily picked up by an antenna. I would need an exceedingly large antenna to get anything.

It would be difficult to *not* make minimum wage at a second job. I might be able to get $5.75/hr. Maybe.
 
I

imported_Mike

Lifer
Dec 4, 2002
18,211
1
0
Originally posted by: Chaotic42
Originally posted by: Ghamu
..pretty sure he meant he can save that much in a month, if he didn't, yeah, get a better job.
Click to expand...

I clear $950/mo after taxes/insurance. I have $950/mo to live on.

There are no local stations that can be easily picked up by an antenna. I would need an exceedingly large antenna to get anything.

It would be difficult to *not* make minimum wage at a second job. I might be able to get $5.75/hr. Maybe.
Click to expand...

holy moly, hmm...sorry. min is $6.75 out here...I was hoping you were talking about an electronics store/or home depot/lows where they make upwards of $10/hr, though I don't know if they would pay the same out there.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
Here's a little chart I made up:

Radio Station Job Type A:

M:12am-6am
T:12am-6am
W:12am-6am
Th:12am-6am
F:12am-6am/6pm-9pm
S:6am-12pm
Su:6am-12pm

Total Hours: 45
Total Pay After Taxes: $960/mo

Radio Station Job Type B:

M:12am-6am
T:12am-6am
W:12am-6am
Th:12am-6am
F:12am-6am/6pm-12am
S:6am-12pm
Su:6am-12pm

Total Hours: 48
Total Pay After Taxes: $1032/mo

Secondary Job Type 1:

M: 8pm-12am
T: 8pm-12am
W: 8pm-12am
Th: 8pm-12am
Sa: 8pm-12am

Total Hours: 20
Total Pay After Taxes @ $5.75/hr: $368/mo

Secondary Job Type 2:

M: 6pm-12am
T: 6pm-12am
W: 6pm-12am
Th: 6pm-12am
Sa: 6pm-12am
Su: 6pm-12am

Total Hours: 36
Total Pay After Taxes @ $5.75/hr: $662/mo
--

Total Monthly Income:

Type A: $1005
Type B: $1032
Type A1: $1373
Type A2: $1667
Type B1: $1400
Type B2: $1694

Total Weekly Hours:

Type A: 45 hours
Type B: 48 hours
Type A1: 65 hours
Type A2: 81 hours
Type B1: 68 hours
Type B2: 84 hours

Total Net Pay per Hour After Taxes:

Type A: $5.58/hr
Type B: $5.375/hr
Type A1: $5.28 /hr
Type A2: $5.15/hr
Type B1: $5.15/hr
Type B2: $5.04/hr


Total Time to Save $10,000:

Type A: ~19 months
Type B: ~18 months
Type A1: ~11 months
Type A2: ~9 months
Type B1: ~11 months
Type B2: ~8 months
 
E

Eli

Super Moderator | Elite Member
Oct 9, 1999
50,419
8
81
Damn. Gotta love that gas usage. :D

150$/mo for rent.. :Q
 
mugs

mugs

Lifer
Apr 29, 2003
48,920
46
91
Why do you have to save so much so fast? I second the male prostitution suggestion. You won't enjoy 70-80 hours a week for very long.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
Originally posted by: mugsywwiii
Why do you have to save so much so fast? I second the male prostitution suggestion. You won't enjoy 70-80 hours a week for very long.
Click to expand...
Meh, I did it for quite a while.

Why $10,000?

I'm going to college in August (hopefully). I need an amount of money as a fall back. I've managed to land myself in a very sweet position here, and I doubt that I'll be as lucky the second time around should something bad happen. I've been burned by not having adequate savings in the past.

I also need a new vehicle. I'd rather not have to work 40 hours a week in college in order to make payments on a car. With a nice $5k down payment, I can work a minimal number of hours. It's work very hard now in order to be able to work moderatly hard later.
 
Chaotic42

Chaotic42

Lifer
Jun 15, 2001
34,590
1,750
126
Originally posted by: mugsywwiii
Why work when you have so many valuable bodily fluids? :)
Click to expand...

Heh, there aren't any places around here that would pay for any of my fluids.

;)
 
R

rgwalt

Diamond Member
Apr 22, 2000
7,393
0
0
Originally posted by: mugsywwiii
Why work when you have so many valuable bodily fluids? :)
Click to expand...

Yeah, start selling blood and semen. You can sell plasma like one or twice a week. Just be sure to drink plenty of water.

R

 
T

tallest1

Diamond Member
Jul 11, 2001
3,474
0
0
wai-wai-wait.

1) Your rent is dirt cheap? Do you live in a corn field over there?
2) Your roommates 0wned you price-wise 'cause phone, cable & internet can easily cost more than water and electric.
3) I can live EASILY on $600/month and I'm in Florida! Good luck pulling that out of your butt
4) Your minimum wage sucks!! Find a 2-bit suit, and get interviewed for a better job
5) If this goal is so important (Mafia after you?) You could sell your car and get a bike
6) Goooood luck. lol
 
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