Saving money..

[7 Syns]

Dunno, there's a few people here who "floss or ball" what they apparently have a fair bit almost as if money ain't no thang. Anyways I was wondering how well you do with saving money, if you save at all. I learned when i was young the power of the dollar and the value of one so as far as saving paper I do pretty well. I save on average $600 a week which goes into a locked account weekly so I don't touch that at all and thats been active since 2002. Then usually save around another $350 in my normal account. On top of that I have yet another account where my grandpa used to deposit $50 weekly when I was born (call it a college trust fund if you will). I have since put about $100 weekly/fornightly. I try to spend no more then $50-$100 a week on myself (no counting bills/gas). I'm stingey as hell but i don't hesitate to help those who need it $-wise.

That and the fact that when it comes to building/construction/property development I have my ish right:thumb: So that makes it easier to save as well because i think i'd struggle if I didn't have so many qualifications when it comes to it.

peac3.

 

[_carmi]

i can't save shit. and i hate myself for that. i can easily spend my pay the same day without even doing it on purpose. i'll have to teach myself how to save soon though. visa needs a payment.

 

[Tha_Wood]

i cant save either, i made $900 in for weeks and spent it in 4 weeks

 

[S O F I]

I can easily save money, it's not a problem for me. However, I have found lack of meaning in saving much. I feel that your best years to ball and floss are your teenage years and the 20s. When you're 40 and driving a porsche 911, you're not as cool as you think you are (and you can't scoop a hot 16 year old either). So, I say enjoy your money while you're young, you have your whole life to slave away in construction.

 

[Rukas]

I put away half every time I get paid and own a house so Im good investment and saving wise. Starting to play with stocks and doing more real estate soon.

 

[Shahin]

I've never really been in a position to save a significant amount, hopefully I will be sometime though.

 

[The.Menace]

Yeah I actually do a good job savin money. I have everything I need right now but I don't plan to work later on, at least not for 20 years. Therefore I save money and think constanly about investing yey.

 

[7 Syns]

I can easily save money, it's not a problem for me. However, I have found lack of meaning in saving much. I feel that your best years to ball and floss are your teenage years and the 20s. When you're 40 and driving a porsche 911, you're not as cool as you think you are (and you can't scoop a hot 16 year old either). So, I say enjoy your money while you're young, you have your whole life to slave away in construction.

Lol @ slaving away in construction. I'm gonna be retired in 10 or so years man w/ that porsche 911 and 3 houses (2 here, 1 in Portugal). Im not bullshitting either but y'all won't believe me anyways. Oh well. But back to topic cool that you can save however i don't agree with your philosophy i do tho still respect it.

peac3.

 

[S O F I]

^Oh, the construction part was just because I felt it would relate nicely, but was not a shot at you (believe it or not).

Good luck.

 

[Pittsey]

I used to save..... But what you saving for??...???? Gotta have a reason for saving no point in stockpiling money...


I saved to buy a house... I now stretched... And it hurts... To buying a house for a $Mil.... A colleague of mine is saving all his money... He doesn't want a mortgage... So he has $400K in the bank... I make more money on the property even though I am paying money on a failry substantial mortgage, than he does in interest... Saving for the hell of it isn't a good idea...


If you wanna invest in property... You don't need much to start and get a few properties on your portfolio... Even in Londo you can get away with a 15% deposit now.... As long as your rental income is cool... I had a few properties... But I sold them to get the family home I wanted....


I don't really need to save anymore... Got a few assets maturing in about 30 years which will see me good... Also got a good pension.

Lol @ slaving away in construction. I'm gonna be retired in 10 or so years man w/ that porsche 911 and 3 houses (2 here, 1 in Portugal). Im not bullshitting either but y'all won't believe me anyways. Oh well. But back to topic cool that you can save however i don't agree with your philosophy i do tho still respect it.

peac3.

Why would you retire in 10 years? You'd be what... Early 30's... You really think you can make enough money in 10 years to do that? and live to a good standard?

Professional athletes earn millions a year... They go as long as they can... Bill Gates didn't retire early... The list goes on... You will be regretting it if you live to 80 and find your money run out... And you will regret it if you save all that money and don't enjoy it... And get hit by a bus.. (actually you might not regret it... But if you knew about it you probably would.)

 

[Rahim]

Why would you retire in 10 years? You'd be what... Early 30's... You really think you can make enough money in 10 years to do that? and live to a good standard?

Professional athletes earn millions a year... They go as long as they can... Bill Gates didn't retire early... The list goes on... You will be regretting it if you live to 80 and find your money run out... And you will regret it if you save all that money and don't enjoy it... And get hit by a bus.. (actually you might not regret it... But if you knew about it you probably would.)

yeah your right about this. not just myself, but i've heard friends tell me that they're thinking about retiring early when they havn't even begun their life yet...just out of highschool...im not saying its not possible to retire early...but i guess it's different for everyone


Well, I don't earn that much because I don't work that much. I have a few small debts, I owe a friend or two some money, and in the future I will have to pay back my student loan for the course that I am taking because I'll be going back to school. hmmm....I owe my sister 20 bux..

I guess I'm a little broke right now, but I got pocket money to go out and chill and enough to pay for my phone bill, but I guess it's better to be debt free and broke then have money and be in debt because it's easier to manage yourself financially when u dont owe people a large amount of money right away. plus im 20 right now...im not even making big money, and anything i save is going for student loans pretty much.....

but yeah im almost debt free..for now

 

[Bender]

Saving money for me is synonymous with not spending it; like I haven't saved it, just not spent it yet.

Money is just a statistic to me, digits on paper, nothing more. I like having credit.

 

[Eric]

Let's see. I have a fair amount of bills to pay each month: car insurance, car payment, loan, phone bill, credit card, umm some other things too Im forgetting.

So other than paying bills once a month, I do fairly well with saving money. I don't have a specific amount I save, but i can be logical with my spending. Every once in awhile I need to get something big price wise, but rarely. Each paycheck I buy a few oufits, I pay the bills, then the rest is saved. Although, I have a horrible time controlling money when I am at the club. I can easily drop 100.00 a night there and that is such a bad habit.

 

[linx]

I'm not great with saving money, but I guess I do it ok. I get paid every 2 weeks now instead of weekly. I don't mind it. It was just hard the first few weeks really. But it's weird how my checks fall. For the most part, i'll get 2 paychecks a month. One i'll have alot of extra money from and the other i'll have 4-5 bills to pay and i'll only have like $150-200 left over. So that has to last me the next 2 weeks for gas, food.. etc. I try and work alot of overtime, but it just wares me out after a while. I work 9 hour day normally, but when I work overtime.. I work 11 hour days. That'll give me like 25-27 hours of overtime on my paycheck. Thing is, I can't just do it week after week. Like I said, it wares me out.

But I guess i'm kind of getting off topic. I guess my point is, unless I actually make enough money where I CAN put some away and save, I really don't. I wanna get a new computer soon though. This one I got now is ass and i've had it for like 6-7 years now. So my next good check, i'll probably save like 400-500 from it and get a computer a few weeks later when I get more $.

 

[Rukas]

Why would you retire in 10 years? You'd be what... Early 30's... You really think you can make enough money in 10 years to do that? and live to a good standard?

Professional athletes earn millions a year... They go as long as they can... Bill Gates didn't retire early... The list goes on... You will be regretting it if you live to 80 and find your money run out... And you will regret it if you save all that money and don't enjoy it... And get hit by a bus.. (actually you might not regret it... But if you knew about it you probably would.)

Its the cool thing to say "oh Im so rich I will retire in 10 years", but it's bullshit like you pointed out.

Plus, what's the point? Retirement is boring I dont want to retire. See I have it good, I dont work, I make money but I dont work, and I love what I do to make money, so why stop and retire? To do what? Play bingo? Fuck that. Im gonna keep stacking and keep moving up so that my kids, their kids, as many generations as I can, are set, before I have to retire.

Early retirement is for lazy people in my opinion.

 

[7 Syns]

Why is early retirement for lazy people? I can guarantee you Mike I'm everything but lazy. My work is 24/7, I have property owners ringing me constantly wondering whats happening with this or that job, hows the schedule, whats happening when and who is doing it etc.

I do wanna give my kids the essentials of life but i don't wanna give them too much & spoil them rotten because then they won't value the power of the dollar that way. Remember my background is completely different and i was raised how i was raised when the issue of saving & money is concerned.

At the end of the day Pittsey & Mike, what I do with my life and money works for me just fine. It may however not work for you dudes, which I can understand. Your living styles maybe alot more expensive then mine. It isn't bullshit at all however to have a "goal" of retiring in 10 years it's that alone that makes me save more & more every year. + I have qualifications so if i ever get too bored i can do little private jobs to keep me occupied.

whatever.

peac3.

 

[_carmi]

how old are you 7 syns and what is your job?

 

[7 Syns]

how old are you 7 syns and what is your job?

23 and i'm a builder.

Owners of property ring me up if they want development done (apartments, townhouses) from there I contract sub-contractors (carpenters, formworkers, plumbers, electricians, block layers etc) I always gotta ran around checking if everything is on schedule. The quicker things are done the more $$ I get.

However next year or so i want to develop my own properties so instead of owners paying me to develop their land, ill develop my own and sell it afterward reaping all the rewards. THEN and only then will I have sufficient $$ to retire. You can buy land for say $250, 000 - $750, 000, develop it into whatever you want as long as the permits are sweet. Sub divide the land say 5 way then re-sell it w/ houses for $250, 000 - $500, 000 each.

It's a painstaking process with all honesty and no it isn't what i prefered to do w/ my life but i'm lucky enough to be in a situation where I can earn alot doing this and all it took was 4 years as a carpentry apprentice, then another 2 years study to be a builder.

Oh and for drama, one real bad job and thats it you can loose alot of money very quickly. As many builders do.

peac3.

 

[Pittsey]

Why is early retirement for lazy people? I can guarantee you Mike I'm everything but lazy. My work is 24/7, I have property owners ringing me constantly wondering whats happening with this or that job, hows the schedule, whats happening when and who is doing it etc.

I do wanna give my kids the essentials of life but i don't wanna give them too much & spoil them rotten because then they won't value the power of the dollar that way. Remember my background is completely different and i was raised how i was raised when the issue of saving & money is concerned.

At the end of the day Pittsey & Mike, what I do with my life and money works for me just fine. It may however not work for you dudes, which I can understand. Your living styles maybe alot more expensive then mine. It isn't bullshit at all however to have a "goal" of retiring in 10 years it's that alone that makes me save more & more every year. + I have qualifications so if i ever get too bored i can do little private jobs to keep me occupied.

whatever.

peac3.

I understand your point... I used to think the same... But I think you're being short sighted.... I don't know anyone who's retired in their 30s or 40s... My girlfriends dad is a mutli millionaire and he's semi retired, but he's in his 50's..... You need to keep an eye in....

 

[Sebastian]

My girlfriends dad is a mutli millionaire

Bwuahaha. Now i understand....

All the years you are posting here, sharing your stories about having a ons here and there, i could not understand why you quit that and have a girlfriend. Now i know. Thank you.