Are you "good" with money?

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TheHighWind

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#1  Edited By TheHighWind
Member since 2003 • 5397 Posts

Not me. I always have to end up borrowing 40 dollars at the end of the month for smokes. No matter how much I put aside I always break into it saying: "if I only smoke so much a day than I can afford BLANK."

Any extra money burns a whole in my pocket and by God I'll find a way to spend $10 on eBay.

Sucks being on a fixed income too, I only get paid once a month and it's from Social Security so it's not a lot.

Edit: So are you "good" with money OT!?

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bforrester420

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#2  Edited By bforrester420
Member since 2014 • 3480 Posts

I'm in much better financial shape than most.

  • I've got a full 6 months of net pay in cash savings
  • 15-year fixed mortgage below 3% (my only debt)
  • I put 18% of my pre-tax income into a retirement account
  • I invest in a brokerage account
  • Wife has a good job and also saves in a retirement account.

I waste money here and there; I need to quit smoking and we eat out more often than we should. The wife isn't as disciplined as I am about spending though.

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ArchoNils2

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#3 ArchoNils2
Member since 2005 • 10534 Posts

Well it kinda depends on what you mean by that. I never really had a hard time with cash. Some times when i was studying I barely made a month but I never had to borrow money or anything. Now that I'm done studying and work 100% with a girlfriend which also works 100%, money really isn't an issue. We do spend a lot though on stuff like travels and now recently, for the wedding in May. We can pay it all easely with our savings but we certainly could save more if we wouldn't spend so much on stuff we don't really need. Like, in my case, games I pre-ordered but never played since I own them ... and those are a lot of games. Also games I get on Steam sales etc. I own over 1000 games on Steam alone and I haven't played like 80% of them xD

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Treflis

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#6 Treflis
Member since 2004 • 13757 Posts

Family calls me Scrooge McDuck.

So I dunno if that means if i'm "good" with money or just a cheapskate.

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skipper847

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#9 skipper847
Member since 2006 • 7334 Posts

easy give up smoking.

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fenriz275

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#10 fenriz275
Member since 2003 • 2149 Posts

I think I am then I wake up and my money is gone and left me a fake phone number.

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jun_aka_pekto

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#11 jun_aka_pekto
Member since 2010 • 25254 Posts

No. That's why the wife has her paycheck and mine too. Me? if I had to pay a bill, I pay it without question just so I don't have to deal with it. The wife would open the books (hers and the bill source) to see if they add up on both.

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Serraph105

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#12 Serraph105
Member since 2007 • 35364 Posts

Well I built up a bunch of money last year from various jobs. I'm not constantly broke so I'm not bad with money. That being said I suppose the next step is to make my money earn more money so I guess I have a ways to go before I will consider myself good with money.

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Serraph105

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#13 Serraph105
Member since 2007 • 35364 Posts

@bforrester420: Eating out is definitely something my girlfriend and I do a bit too much of. We're pretty good about other things though. We don't do much excessive shopping, neither of us smoke, and we don't spend too much on alcohol. We're both working on getting better jobs as well. She has two degrees (one associates and one bachelor's) and I'm working on getting my bachelor's. It's all a work in progress, I just wish thhere was a way to speed it up a bit.

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LJS9502_basic

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#14 LJS9502_basic
Member since 2003 • 173677 Posts

Yes.

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samanthademeste

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#15 samanthademeste
Member since 2010 • 1553 Posts

Yes I am.

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davillain-

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#16 davillain-  Moderator
Member since 2014 • 47999 Posts

I have a good career that pays well, I'm good with my financials, but I do spend lots of money such as games and PC stuff but despite I'm good with money, I still save little by little when it comes to buying games. When I get paid, I put $20 dollars to the side for that game I'm saving when it's going to release, that's how I'm good at this saving stuff and my family, bills, and buying food for the house all comes first, games second. [depends who you ask]

@skipper847 said:

easy give up smoking.

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LexLas

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#17 LexLas
Member since 2005 • 7317 Posts

I'm good at spending it. And yes, i've hustled since i was a young lad, and make enough to support my fam. Thats good enough, but there's always room for more. I just don't push too hard, cause i'm comfortable.

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bforrester420

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#18 bforrester420
Member since 2014 • 3480 Posts

@Serraph105: It's really nice being in your mid 30s. By this age you're usually established in your career.

Personally, I tend to "waste" my money on golf during the warmer months and expensive single malt scotches. But hey, if I'm able to save 30% of my income, I figure I've earned the right to let open my walled from time to time!

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Ryagan

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#20 Ryagan
Member since 2009 • 532 Posts

To an extent. When you have college tuition to pay for, it's hard to keep money in your possession.

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servomaster

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#21 servomaster
Member since 2015 • 870 Posts

Yes, I rarely buy anything that's unnecessary, and I constantly look for ways to squeeze every penny.

Gotta figure out how investing works in the future.

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plageus900

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#23 plageus900
Member since 2013 • 3065 Posts

I manage alright. My partner and I make great money and were able to put money into a retirement, pay the mortgage every month, pay our bills, etc. and still have money left over to play with. We could probably still improve our money management but we are never broke.

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Ant_17

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#24 Ant_17
Member since 2005 • 13622 Posts

I have my ups and downs.

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THUMPTABLE

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#25 THUMPTABLE
Member since 2003 • 2267 Posts

@bforrester420: How high is your mortgage? When you say brokerage account, is that for shares?

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br0kenrabbit

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#26  Edited By br0kenrabbit
Member since 2004 • 16938 Posts

@TheHighWind said:

Not me. I always have to end up borrowing 40 dollars at the end of the month for smokes. No matter how much I put aside I always break into it saying: "if I only smoke so much a day than I can afford BLANK."

Any extra money burns a whole in my pocket and by God I'll find a way to spend $10 on eBay.

Sucks being on a fixed income too, I only get paid once a month and it's from Social Security so it's not a lot.

Edit: So are you "good" with money OT!?

If you're smoking, pick up a cigarette machine and buy a pound of pipe tobacco and some filter tubes. Pipe tobacco isn't taxed the same as tobacco intended for cigarettes, and if you get the unflavored stuff it's just cut tobacco. $15 will get you a pound of tobacco and less than $4 for 200 filter tubes.

If you want a good, easy and sure investment, grab some US Treasury Notes/Bonds. Read here.

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deactivated-5e90a3763ea91

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#28 deactivated-5e90a3763ea91
Member since 2008 • 9437 Posts

No, but it's something I'd really like to get under control. Credit card debt and school loans will probably make things difficult, but as long as I can manage to pay everything I need to pay and survive, that's worth something.

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comp_atkins

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#29  Edited By comp_atkins
Member since 2005 • 37361 Posts

wife and i are in good shape. both have good jobs, only debt is mortgage, good cash savings, both contrib > 10% to retirement though admittedly we could both afford to do more there. only major things we have really spend much money on over the past few years is vacation. neither of us really spend frivolously as there isn't really anything we want/need.

though that will change soon when the kid arrives and --cks everything up :)

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bforrester420

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#30  Edited By bforrester420
Member since 2014 • 3480 Posts

@THUMPTABLE said:

@bforrester420: How high is your mortgage? When you say brokerage account, is that for shares?

By "how high", do you mean my interest rate? If that's the case, my rate is 2.75%.

Yes, when I say brokerage account I mean for individual shares. That might also include ETFs (exchange traded mutual funds), depending on how the wind blows. Right now, I'm been staggering purchases of the oil majors, mostly ConocoPhillips for that sweet, sweet dividend yield. If the U.S. market falls another 10%, I'll probably start buying index funds.

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bforrester420

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#31 bforrester420
Member since 2014 • 3480 Posts

@br0kenrabbit said:
@TheHighWind said:

Not me. I always have to end up borrowing 40 dollars at the end of the month for smokes. No matter how much I put aside I always break into it saying: "if I only smoke so much a day than I can afford BLANK."

Any extra money burns a whole in my pocket and by God I'll find a way to spend $10 on eBay.

Sucks being on a fixed income too, I only get paid once a month and it's from Social Security so it's not a lot.

Edit: So are you "good" with money OT!?

If you're smoking, pick up a cigarette machine and buy a pound of pipe tobacco and some filter tubes. Pipe tobacco isn't taxed the same as tobacco intended for cigarettes, and if you get the unflavored stuff it's just cut tobacco. $15 will get you a pound of tobacco and less than $4 for 200 filter tubes.

If you want a good, easy and sure investment, grab some US Treasury Notes/Bonds. Read here.

I disagree because Treasuries don't pay nearly the rate that you'll get out of equities. If you want an easy and sure investment, and we're talking a long term investment, I would suggest VOO (Vanguard S&P 500 ETF). You'll get a dividend yield that rivals the rates on a Treasury and you'll get capital gains as well.

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br0kenrabbit

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#32 br0kenrabbit
Member since 2004 • 16938 Posts

@bforrester420 said:
@br0kenrabbit said:
@TheHighWind said:

Not me. I always have to end up borrowing 40 dollars at the end of the month for smokes. No matter how much I put aside I always break into it saying: "if I only smoke so much a day than I can afford BLANK."

Any extra money burns a whole in my pocket and by God I'll find a way to spend $10 on eBay.

Sucks being on a fixed income too, I only get paid once a month and it's from Social Security so it's not a lot.

Edit: So are you "good" with money OT!?

If you're smoking, pick up a cigarette machine and buy a pound of pipe tobacco and some filter tubes. Pipe tobacco isn't taxed the same as tobacco intended for cigarettes, and if you get the unflavored stuff it's just cut tobacco. $15 will get you a pound of tobacco and less than $4 for 200 filter tubes.

If you want a good, easy and sure investment, grab some US Treasury Notes/Bonds. Read here.

I disagree because Treasuries don't pay nearly the rate that you'll get out of equities. If you want an easy and sure investment, and we're talking a long term investment, I would suggest VOO (Vanguard S&P 500 ETF). You'll get a dividend yield that rivals the rates on a Treasury and you'll get capital gains as well.

Long term sure. I was more thinking much shorter term. You can get Treasury notes that mature in a month.

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with_teeth26

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#33 with_teeth26
Member since 2007 • 10778 Posts

I would say so, being from a miserly Scottish family. Got through all my education without any student loans, finished school 7 months ago and already got a good amount of savings from my job and some investments on the side.

I've never really had a problem with lack of money even when I was unemployed for a summer in University and between my undergrad and post-graduate education. Now that I can afford to spend money on superfluous shit like wall-art I still don't, I just can't do it. I don't even spend much money on cloths since I work somewhere without a dress code and zero fucks are given about appearance. Probably spend a bit too much on booze though.

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bforrester420

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#34 bforrester420
Member since 2014 • 3480 Posts

@with_teeth26: Favorite whisky?

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with_teeth26

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#35  Edited By with_teeth26
Member since 2007 • 10778 Posts

@bforrester420 said:

@with_teeth26: Favorite whisky?

I've only started drinking whisky in the last couple years but the nicest i've tried is probably Glenfiddich

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bforrester420

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#36 bforrester420
Member since 2014 • 3480 Posts

@with_teeth26: Need to try Lagavulin or Ardbeg

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Serraph105

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#37 Serraph105
Member since 2007 • 35364 Posts

@with_teeth26 said:
@bforrester420 said:

@with_teeth26: Favorite whisky?

I've only started drinking whisky in the last couple years but the nicest i've tried is probably Glenfiddich

My current favorite bourbon whiskey is W.L. Weller Special Reserve. It's not the smoothest, or the oldest (7 years), but it's a wheated bourbon with it's own special flavor. Just like it's older sibling "Antique Weller" (which is 12 years) it shares the same mix as the famous Pappy Van Winkle. If you get the chance I really recommend picking up a bottle of this up as you it will only cost you around $30.

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achilles614

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#38  Edited By achilles614
Member since 2005 • 5310 Posts

It's not that I'm terrible with my money, I just have a pricey hobby and like to live decently...that's what I tell myself.

I buy too much "project stuff" like scopes, logic analyzers, and development boards...but everything I purchase is in the pursuit of learning more. I do try to buy used when possible. My bench power supply is an old HP analog meter supply ($40) and one of my scopes is an old HP DSO ($80). If the old equipment can suit my needs then I don't mind.

I have student loans, but I'm fine with something I can pay off in 6 months at a job. My girlfriend has a stable career which is enough to support us and I get plenty of money from research and academic scholarships (enough to fund my mad scientist lifestyle), things are ok.

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kingcrimson24

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#39  Edited By kingcrimson24
Member since 2012 • 824 Posts

well , I live in Iran , a country that has been under sanctions for the past 10 years , Business relationship with western countries was bad and government is ... well lets not get into that . so I would say most people here are not good with money . country's currency value has dropped drastically . 5 years ago the money my family made from work was equal to 6000$ a month , now it's equal to 2000$ . which means the value of Rial ( Iran's currency ) is 3 times less than it was 5 years ago .

but with all that , my situation isn't half bad . I Studied Chinese and english . I work as a Translator and I make good money and I'm on the right path to get into importing business from China . I just need the right connections with the right people .

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Sheriff514

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#40 Sheriff514
Member since 2016 • 14 Posts

When it comes to money, I am TERRIBLE. And I mean that in every sense of the word. I have no self control when it comes to buying guns and I'm pretty sure I have an amazon addiction... God help me

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mrbojangles25

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#41 mrbojangles25
Member since 2005 • 51142 Posts

Yes and no.

I don't spend a lot of money, and if I could just get my food budget under control (cook more, eat less, etc), I'd be saving a lot more. I don't have high standards of living, and I tend to favor practical stuff (i.e. I'd love to have a new Jeep, but I would just get a more efficient, better made, and inexpensive Honda) and don't give in to impulse buys.

I am sitting on quite a bit of money, but I don't have it invested :( it's just sitting in my savings account earning jack squat per year lol.

I am also single, which is basically like making 30% more money lol. Really wish they'd legalize prostitution...

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SolidSnake35

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#42 SolidSnake35
Member since 2005 • 58923 Posts

Pretty good. I have savings, but what I do spend, I spend on pointless things.

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sukraj

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#43 sukraj
Member since 2008 • 27859 Posts

I spend way too much on videogames.

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omotih

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#44 omotih
Member since 2015 • 1556 Posts

Bingo

Loading Video...

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k--m--k

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#45 k--m--k
Member since 2007 • 2799 Posts

@sheriff514: what do you buy? Whenever I browse Amazon I find nothing to buy. Nothing that worth buying I mean.

I am okay with money. I have no loans or debit and got money saved that I would like to invest, but not sure how.

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uninspiredcup

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#46  Edited By uninspiredcup
Member since 2013 • 47254 Posts

haha, no. Especially with the 1 click buy.

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Sheriff514

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#47 Sheriff514
Member since 2016 • 14 Posts

@k--m--k: man.. anything and everything. I literally do all my shopping on amazon. Things for work (which is a huge variety of objects) I bought my tv, TV stand, pretty much every gadget I own, I am full of shame

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Gaming-Planet

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#48  Edited By Gaming-Planet
Member since 2008 • 20814 Posts

I'm a good consumer and get things on sale... and not the sales where the list price is inflated type of sale. I hardly ever overspend and I usually do all services by myself thanks to the internet. I find a way for everything to make more and save more. It's my little obsession.

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k--m--k

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#49 k--m--k
Member since 2007 • 2799 Posts

@sheriff514: you got to get that under control or you will end up on one of these documentaries about shopping addiction.

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comp_atkins

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#50 comp_atkins
Member since 2005 • 37361 Posts

@achilles614 said:

It's not that I'm terrible with my money, I just have a pricey hobby and like to live decently...that's what I tell myself.

I buy too much "project stuff" like scopes, logic analyzers, and development boards...but everything I purchase is in the pursuit of learning more. I do try to buy used when possible. My bench power supply is an old HP analog meter supply ($40) and one of my scopes is an old HP DSO ($80). If the old equipment can suit my needs then I don't mind.

I have student loans, but I'm fine with something I can pay off in 6 months at a job. My girlfriend has a stable career which is enough to support us and I get plenty of money from research and academic scholarships (enough to fund my mad scientist lifestyle), things are ok.

ooh. sounds like a good hobby :) make anything cool?