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Not trying to impress anyone.
I already do invest 401k and I still end up saving tens of thousands. I don't need to save more, I rather assist homeless vets and spend money on myself because I'm self-made.
I highly doubt a recession is coming, especially not in my industry. Some of you Americans have became snowflakes and don't know how to get out and work. It's always "no way, this sounds hard" or "This sounds boring". Thus is why certain industries are having hard times finding employees. Whatever happen to "getting a job to make money?".
If I make 72k and only spend 30k a year on myself, that isn't spending everything I have, not even 50%.
Also, neither would I pay $2 for a quarter.
Not buying it.
Your TVs and phone, that's $10K right there.
Nice attempt at deflecting. I was putting away money in a 401K in my early 30s. My employer if you put in 5% of your salary, doubled it, that's right, put in 10%. I was raised to "keep your overhead low", you can enjoy life but don't need every device that comes out.
You're spending way more than 30K on yourself, you just said you spent 10K on the above mentioned items.
My point was, which went over your head was you don't have to spend most everything you earn. You can live well, and no one needs an $1,100 phone.
Quote:
Originally Posted by Themanwithnoname
I'd like to see the breakdown.
$75k is what?
About $4,600 after taxes?
If you save $20k/year (minimum.... "tens of thousands")
That leaves a hair over $3k/month.
Sniff, sniff.... I smell something in that lifestyle claim....
I work free. Put in a sink and fixed some other plumbing for my mother last month. Next week I'll be mudding my upstairs bedrooms.
I budget $40/month for replacement utilities, my microwave was $2 at the dump (they have a covered area where still useable goods are put.)
I was upset I had to pay $4 for my toaster at goidwill!
Bread machine was $2 at the thrift store...
My roof has a 40 year Warrenty, and I budget $100/month for house repairs on my $50k house (I was my own general contractor.)
I've been scrounging materials to build a 10x12 storage shed for a buddy to use. I'll have less than $200 in it. (Cleanout, auction, and Habatat for humanity) I told him there was no point in him paying to rent a unit while he looks for a house, just come out some weekend and help me run it up.
Sure it CAN cost.
Or not.
Up to you.
(I'll grant you most won't take this tact.)
I do as well, just a quick crunch of the numbers vs what is being spent(and so detailed to boot) doesn't add up does it?
Nice attempt at deflecting. I was putting away money in a 401K in my early 30s. My employer if you put in 5% of your salary, doubled it, that's right, put in 10%. I was raised to "keep your overhead low", you can enjoy life but don't need every device that comes out.
You're spending way more than 30K on yourself, you just said you spent 10K on the above mentioned items.
My point was, which went over your head was you don't have to spend most everything you earn. You can live well, and no one needs an $1,100 phone.
I do as well, just a quick crunch of the numbers vs what is being spent(and so detailed to boot) doesn't add up does it?
Didn't say I bought it in 1 year...
The phone is $130 a month. No money down and I am paying it for the next 12.
I also only bought one of those tvs, the other is a gift. It also wasn't more than $1000.
Even if I did buy both tvs and the phone, it's still just around $3000, not $10,000.
You're right, no one needs a $1,100 phone bro- but it's very convenient. Also Infound out its only $1000, not to be confusing on what phone it is.
Last edited by Archer705; 06-07-2017 at 09:08 PM..
If you save $20k/year (minimum.... "tens of thousands")
That leaves a hair over $3k/month.
Sniff, sniff.... I smell something in that lifestyle claim....
By saving I mean money I'm not spending and putting into a bank account.
$40,000 a year is what I project.
In reality, it's only been 8 months, I estimate $40,000 by the end of the year.
3,000 times 12 is $36,000
$20,000 a year I am 'saving' plus that $36,000 is $56,000.
I spend more than that, but there goes your theory.
I'm not trying to prove anything, I was just answering the question.
As others mentioned, there might be hidden assets, or they're being frugal in other areas.
Living in the same neighborhood does eliminate variables. For me, you put me next the janitorial staff at my workplace, or next to service/FF/retail employees, I'm making a lot more than they are. However, I have relatives, former coworkers, and friends who are making many times more money than me. They can actually afford 1.4 million $ homes, buy fancy deluxe import furniture, have much of their kid's college education costs fleshed out, and/or could theoretically retire in 10 years given their savings (at 50 or 60)
Didn't say I bought it in 1 year...
The phone is $130 a month. No money down and I am paying it for the next 12.
I also only bought one of those tvs, the other is a gift. It also wasn't more than $1000.
Even if I did buy both tvs and the phone, it's still just around $3000, not $10,000.
You're right, no one needs a $1,100 phone bro- but it's very convenient. Also Infound out its only $1000, not to be confusing on what phone it is.
No, no no dude.....
Everything.
The expensive shoes, the "paid for" car, the "$750/month" and "doing it again next month"....
Then things like rent and food.
Like this:
My fixed bills are:
$301/month morgtage
$106/phone/internet
$135 insurance
$50/month propane (budgeted, spent about $300/year)
House is offgrid, I compost or burn my trash etc.
Nobody needs a $600 phone nobody. I paid $60 for my Verizon prepaid Motorola smartphone. Large screen about 5.5 inches and snappy does everything your $600 phone does.
Oh, I don't need one. Mine does allow me to do "work things" when I'm on the go that I wouldn't usually be able to do without my computer. The cheap smartphones don't work as well -- or at all -- for that. I know from experience; I've been in this business for about seven years now, and I've only had a "nice" phone for two years. It has made a huge difference in my productivity when I'm out and about. So, I have more than made back what I invested in the phone. Plus, I've had it for two years now, and I'm not in a rush to replace it. I'll probably keep it another year or so before I'll need to buy another one, as long as it doesn't break, anyway. For $200 a year or $17 a month, it's definitely worth it to me.
If I didn't do the type of work that I do, it would not be worth it. I was very hesitant to spend the money and waited a long time to do so.
Quote:
Originally Posted by adr3naline
I get a kick out of posters saying "don't worry about it." Although a sound approach to life, the OP started this thread out of pure curiosity. That's all. So if you don't have a theory or experience to contribute in attempt to answer his/her question, please don't clog up the thread.
Yeah, me too. I'm not just saying that because it's my thread, either. I hate the posts where people are like, "Oh, I see you don't have more important things to think about" or "I wish that worrying about this trivial thing was the only thing I had to worry about" or "But I see you have time to waste here on City-Data."
Isn't the whole purpose of a forum so that you can talk about things?
Quote:
Originally Posted by N.Cal
I own my own home and a car and don't spend "hundreds of dollars" at every turn. Neither does anyone else I know.
Dang if I don't. It started the same week that I bought my house, when my HVAC system caught on fire. :/ That one wasn't hundreds...it was thousands...
More recently...I had to replace my dishwasher and my washing machine, and I'm sure my dryer is on its way out, too. We aren't talking about old appliances, either; my washing machine was around three years old.
The roof needs to be replaced soon. Since I haven't decided if we'll keep our house or sell it, and since it's not desperate (yet), I'm not totally sure what we're going to do yet about that, but that's thousands.
My dog has developed some sort of lump/bump/cyst thing on her face, so I have to take her to the vet tomorrow. And yes, I know not everyone has a pet, but a lot of people do or have kids (which are more costly), so...
I just bought a set of tires for my car. I had to get an oil change and put new brakes on it, too, and I found that one of the rotors was damaged. I'm sure it came that way when I bought it (bought it used) because it answers some questions (a slight grinding noise that was barely noticeable from the area of that tire, even though the car stopped well, and one front brake pad that was significantly more worn than the other). Anyway, that added an unexpected $100 to the maintenance bill.
My husband's truck just needed a new battery, and it's starting to need some more serious work, as well as a pricey set of tires. Who knows how much all of that's going to cost.
My husband says he thinks he might have a cavity, and it's been about 8 months now since either of us have seen a dentist, so I need to schedule an appointment ASAP.
I know these are normal "life things" and I'm not complaining about them, but that's kinda what I mean when I say that I'm spending hundreds of dollars on something or other at every turn...I'm sure others can relate. These are the kinds of things that I'm wondering how those who are "living on the edge" handle, if they are, in fact, living on the edge. They stress me out, and we have savings and are generally frugal.
Quote:
Originally Posted by freemkt
Homeowners don't have to spend "hundreds of dollars" at every turn because they get to enjoy "free" consumption. I pay more to rent a room in an overcrowded (10 people) house than my next door neighbor pays to own a 3BR house.
Owning a home most certainly is not "free."
Quote:
Originally Posted by Larry Siegel
My plumber, electrician, and handyman don't work for free. A new refrigerator, stove, washer and dryer, hot water heater, and microwave aren't free. I have had to replace the roof and the garage. If it's not hundreds of dollars at every turn, it's thousands.
While homeownership can be gratifying because you build equity and get to customize the house to the way you want it, don't try it on a budget that allows you to just barely make the mortgage payments.
Owning a home is cheaper than renting for millions of homeowners with paid-off mortgages and preferential property tax rates in 36 states.
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