Warpath  

Home | Forums | Salary Cap Info | Shop | Donate | Stay Connected




Go Back   Warpath > Off-Topic Discussion > Parking Lot


Do you live within your means?

Parking Lot


Reply
 
LinkBack Thread Tools Display Modes
Old 11-19-2009, 02:37 PM   #31
I like big (_|_)s.
 
TheMalcolmConnection's Avatar
 
Join Date: Dec 2004
Location: Lexington, Virginia
Age: 33
Posts: 17,684
Re: Do you live within your means?

I live directly within my means. I have a backup fund, but everytime we get extra money we'll find a way to spend it. We never worry about money, but we surely don't put a lot away.
__________________
Regret nothing. At one time it was exactly what you wanted.
TheMalcolmConnection is offline   Reply With Quote

Advertisements
Old 11-19-2009, 02:44 PM   #32
Swearinger
 
GMScud's Avatar
 
Join Date: Sep 2006
Location: Washington, DC
Age: 36
Posts: 12,623
Re: Do you live within your means?

I live within my means. I carry zero credit card debt, my fiancee and I only have one car payment, and we both are making enough to sock away a nice amount each month.

We're looking to buy a house within the next year to 18 months, and right now we only have rent and the basic bills. We both were fortunate enough to go through school without student loans. So it looks like home ownership will be a reality for us pretty soon. I just turned 31 and she's 27, and we feel like we're very early in our careers, so hopefully as experience/income increase so will the likelihood of a happy retirement. We'll see what happens when we have kids though.
__________________
Insert witty signature here
GMScud is offline   Reply With Quote
Old 11-19-2009, 03:08 PM   #33
‎\m/
 
Mattyk's Avatar
 
Join Date: Feb 2004
Age: 42
Posts: 86,049
Re: Do you live within your means?

Quote:
Originally Posted by hooskins View Post
Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.
That's pretty much all I spend my $$ on lol
__________________
Support The Warpath! | Warpath Shop
Mattyk is offline   Reply With Quote
Old 11-19-2009, 03:28 PM   #34
Franchise Player
 
mredskins's Avatar
 
Join Date: Aug 2005
Posts: 8,955
Re: Do you live within your means?

Quote:
Originally Posted by firstdown View Post
I don't go crazy trying to save to retire but I do my share. I agree with some of what you said but if you don't save now its to late when you get older. If times get tough you also have money set aside to get by. If you over spend you have neither. I have alot of older customers who failed to save and are just getting by living off SS and what ever else they have.

It is a balancing act, to much on either side is unhealth. Plus define "in your means" that is going to mean something diffrent for everyone.
__________________
When life gives you paper jams, turn them into paper footballs!
mredskins is offline   Reply With Quote
Old 11-19-2009, 04:27 PM   #35
RG Glee
 
Schneed10's Avatar
 
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 35
Posts: 8,669
Re: Do you live within your means?

Quote:
Originally Posted by mredskins View Post
Well you have to spend to live no way around it.
I guess you and I have vastly different definitions of what "living" is.

To me, you can't beat playing with your kids in the park on a sunny day. The best things in life are free.

That's not to say I don't spend the money to belong to a pool, or that I don't take them to amusement parks, etc. But you don't have to spend a lot to have a good time in life. My opinion.
Schneed10 is offline   Reply With Quote
Old 11-19-2009, 04:36 PM   #36
RG Glee
 
Schneed10's Avatar
 
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 35
Posts: 8,669
Re: Do you live within your means?

Quote:
Originally Posted by mredskins View Post
It is a balancing act, to much on either side is unhealth. Plus define "in your means" that is going to mean something diffrent for everyone.
I think the definition is pretty simple, if you spend more than you make, then you're living outside of your means.
Schneed10 is offline   Reply With Quote
Old 11-19-2009, 04:40 PM   #37
Registered User
 
saden1's Avatar
 
Join Date: Feb 2004
Location: Seattle
Age: 35
Posts: 10,069
Re: Do you live within your means?

I save first (30%), spend whatever is left over (~10%)....once kids come into the picture I'm sure I'll have to alter my lifestyle to compensate for the resource drain the little critters will be. If I'm lucky I'll have them on lease for only 18 years.
saden1 is offline   Reply With Quote
Old 11-19-2009, 04:43 PM   #38
Registered User
 
saden1's Avatar
 
Join Date: Feb 2004
Location: Seattle
Age: 35
Posts: 10,069
Re: Do you live within your means?

Quote:
Originally Posted by Schneed10 View Post
I think the definition is pretty simple, if you spend more than you make, then you're living outside of your means.
To put it in "common man" terms....if you put a shit load on your credit card and you can't hold on for 6 months if you were laid off without draining your entire savings...you're a broke bitch living beyond your means.
saden1 is offline   Reply With Quote
Old 11-19-2009, 05:17 PM   #39
Camp Scrub
 
olive523's Avatar
 
Join Date: Oct 2004
Location: Saratoga Springs
Posts: 22
Re: Do you live within your means?

Quote:
Originally Posted by Mattyk72 View Post
We did, we were able to sell our house and pay off our mortgage and obviously we're incredibly fortunate because of that. Believe me we'd give it all up in a heartbeat to have her back, but yes it put us way ahead of the game, obviously the circumstances that put us in this situation just stinks.
Indeed we are fortunate due to some very unfortunate circumstances. Beyond this though I firmly believe (although I'll never be able to prove it) that we were headed in the right direction. My dad was a cop, and built his wealth based on good old fashioned savings etc. Both me and Matty are well educated and have saved for retirement as soon as we could. After college we both paid off our credit card debt, and began saving. We did not buy an expensive house, but one we could reasonably afford. I can't deny we had an advantage, but that was exactly was my parentswanted for me and planned for themselves. Thanks to that, I'll be able to do the same for my own kids.
olive523 is offline   Reply With Quote
Old 11-19-2009, 09:03 PM   #40
Franchise Player
 
mredskins's Avatar
 
Join Date: Aug 2005
Posts: 8,955
Re: Do you live within your means?

Quote:
Originally Posted by Schneed10 View Post
I guess you and I have vastly different definitions of what "living" is.

To me, you can't beat playing with your kids in the park on a sunny day. The best things in life are free.

That's not to say I don't spend the money to belong to a pool, or that I don't take them to amusement parks, etc. But you don't have to spend a lot to have a good time in life. My opinion.

I meant spent like food, housing, etc... and I agree you don't have to over spend. I was targeting more folks who won't even go to the park on a sunny day because they have to spend money on gas, that is the cheap I am talking about.

Honestly my son is two for Xmas I could just wait and until everyone puts out there boxes and then go drag them in, he would be in f--king heaven and it would cost me $0.
__________________
When life gives you paper jams, turn them into paper footballs!
mredskins is offline   Reply With Quote
Old 11-19-2009, 10:44 PM   #41
Swearinger
 
GMScud's Avatar
 
Join Date: Sep 2006
Location: Washington, DC
Age: 36
Posts: 12,623
Re: Do you live within your means?

I was just looking at my BofA checking account online, and it made me think of this thread. Anyone who banks with BofA, I recommend the "Keep the Change" feature for your accounts. If you're not familiar, what it does is for every purchase you make with your check card, it rounds the amount up to the nearest dollar, and puts the difference between that and your purchase directly into your savings account. For example, if you spend $6.50, it will debit your checking account $7.00, and put $.50 into your savings account. That feature alone has put an extra $1,000+ into my savings account this year.
__________________
Insert witty signature here
GMScud is offline   Reply With Quote
Old 11-19-2009, 11:06 PM   #42
Gamebreaker
 
CRedskinsRule's Avatar
 
Join Date: Aug 2008
Location: Pasadena, Md
Age: 48
Posts: 13,138
Re: Do you live within your means?

I haven't made great choices, and between divorce, 3 kids, and another bad relationship that bottomline I allowed use almost 25K of what was my good credit, I am right now trying to work myself back to the right side of the ledger. I am almost there, but saving hasn't been a part of it yet. hopefully y'all like me enough when it's time to get Social Security, right?
__________________
Dirtbag59, sending songs to oblivion 1 writer at a time.
CRedskinsRule is offline   Reply With Quote
Old 11-19-2009, 11:34 PM   #43
RG Glee
 
Schneed10's Avatar
 
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 35
Posts: 8,669
Re: Do you live within your means?

Quote:
Originally Posted by mredskins View Post
I meant spent like food, housing, etc... and I agree you don't have to over spend. I was targeting more folks who won't even go to the park on a sunny day because they have to spend money on gas, that is the cheap I am talking about.

Honestly my son is two for Xmas I could just wait and until everyone puts out there boxes and then go drag them in, he would be in f--king heaven and it would cost me $0.
I got ya now. I honestly can't say I know anyone that frugal. That sounds like living in a prison.

I do have a problem though with people who live beyond their means even when they don't need to. People who get laid off and are forced to dip into savings and go into debt, that's sad and I feel for them. But this guy who works for me (so he makes less than me) lives in a 3000 square foot house (pretty sizeable for Philly suburbs) while mine's about 2100, and drives a BMW while I drive a Toyota. Then he has the gumption to whine about how his electric service is about to be shut off because he's been missing too many payments.

I don't feel envious of the lifestyle he lives, I just want to shake the stupid out of him. Is the bigger house and the nicer car really worth the stress of feeling that strapped for cash? I'd much rather scale down and not have to worry about money than be house-rich and cash-poor.
Schneed10 is offline   Reply With Quote
Old 11-20-2009, 03:59 AM   #44
Registered User
 
Nomad's Avatar
 
Join Date: Nov 2009
Posts: 518
Re: Do you live within your means?

nah i dont.... saving for a retirement, is not for me, there is not guarentee, I will collect it........
Nomad is offline   Reply With Quote
Old 11-20-2009, 08:30 AM   #45
RG Glee
 
Schneed10's Avatar
 
Join Date: Feb 2005
Location: Newtown Square, PA
Age: 35
Posts: 8,669
Re: Do you live within your means?

Quote:
Originally Posted by Nomad View Post
nah i dont.... saving for a retirement, is not for me, there is not guarentee, I will collect it........
Did you know that if you put away $1000 now in an account that earns about 5% per year, it would be worth $4300 30 years from now?

If the account earns 8% per year, it would be worth $10,000 30 years from now.

Save a little now, pay yourself a lot more later. I think if more people understood the basic concept of compounding interest, a lot more people would save a little bit of money. This stuff should be a mandatory part of the curriculum in high schools.
Schneed10 is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -4. The time now is 04:16 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2015, vBulletin Solutions, Inc.
This site is not officially affiliated with the Washington Redskins or the NFL.
Page generated in 0.31757 seconds with 9 queries

Search Engine Friendly URLs by vBSEO 3.2.0 RC5

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25