saving money. vs. living for the moment.

[Halfwit]

my mind swaps back and forth between the two many times a year.

want to see what ppl think, i know alot of ppl will say that they try to find a medium between thetwo, but WHAT I WANT TO KNOW is what is your philosophy on this>?

poll.

[quickdodge®]

If anyone has any iota of a brain that is functional, they would tell you to save that shit.

I'll be honest. I wish I were as young as some of you are and were working and saving my money. I'm 37 and I don't have shit. Seriously. What I have in my home is what I have period. Fortunately for me, I have no future worried because money is plentiful in my family. Now this doesn't mean that I have not worked and just lived off of parents. I've worked daily since I was 15. But I never knew the value of saving. Save. Save. Save. You'll never know the joy when you get a few years down the road and you have a nice savings account to look into. Later, QD.

[Halfwit]

i lean more to saving, but sometimes my mind hits me with the "your not promised tomorrow" philosophy and i "splurge"

i believe i am pretty smart when it comes to managing my money, budgeting myself, and planning.

but how far do soem ppl take it?
not buying anything but whats needed, and saving for later?

["B"]

My entire life has been about spending money. I have always figured that I would die eventually, so what is the point of having money saved? I can't spend it when I am dead, so I was going to live in the moment.

Now I have children and I am starting to try to save for their future stability. If I die now, they will have a much harder life, financially speaking. Hopefully in a few years, they will not have to worry so much about that.

[quickdodge®]

but how far do soem ppl take it?
not buying anything but whats needed, and saving for later?

You don't have to save every penny to accumulate a decent savings. If you save right, you can still have a very good present life to go along with your future one. Later, QD.

[Lucky DAWG]

i would like to say save, especially considering that i have my first huge bills coming up for the next 4 years going to college. If i have had to pay for anything in the past it was menial and non important things like clothes, food, gas, or a movie ticket. Now i have to look towards paying for my education and where i'm living and such.

It hasn't hit me yet because i haven't recieved the bill which is ignorant of me because i continue to blow my paychecks on things like upgrades for my car, video games, dates, alcohol, and newer gadgets.

Its not that my mentality is one of living in the moment because i want to be succesful later in life, its just that i am often short sited and buy things that give me instant gratitude. I guess i find myself thinking at times maybe if i have the coolest car, or the coolest phone, or go blow my money with a huge crowd of kids one night with nothing on my mind that opportunity will come knocking at my door instead.

its stupid

SAVE, SAVE, SAVE period. whether or not i realize its what i should be doing; it is by far the right mentality because you have no idea what is around the next corner. IT doesn't mean you give up on what you love doing, just do less of it and keep your budget in mind

i have some growing up to do when it comes to my realization of the real world and i fully realize it. Hopefully i will learn to save my money before i make the same mistakes as others i know.

/rant

[BluesClues]

Saving money can save your ass in the future. If it wasn't for me saving money and having accounts every where. with no job right now I would be in a lot of trouble. I am working towards getting another job right now so I don't have to spend all of my savings because when I move I want to have money on the side in case of emergencies

[Halfwit]

problem with americans: want instant satisfaction.

[apex]

if you live in the moment you'll be finding yourself living the moment in a cardboard box.

save ftw, it also shows fortitude that you have control over your finances...

[sleepys4]

i would like to say save, especially considering that i have my first huge bills coming up for the next 4 years going to college. If i have had to pay for anything in the past it was menial and non important things like clothes, food, gas, or a movie ticket. Now i have to look towards paying for my education and where i'm living and such.

It hasn't hit me yet because i haven't recieved the bill which is ignorant of me because i continue to blow my paychecks on things like upgrades for my car, video games, dates, alcohol, and newer gadgets.

Its not that my mentality is one of living in the moment because i want to be succesful later in life, its just that i am often short sited and buy things that give me instant gratitude. I guess i find myself thinking at times maybe if i have the coolest car, or the coolest phone, or go blow my money with a huge crowd of kids one night with nothing on my mind that opportunity will come knocking at my door instead.

its stupid

SAVE, SAVE, SAVE period. whether or not i realize its what i should be doing; it is by far the right mentality because you have no idea what is around the next corner. IT doesn't mean you give up on what you love doing, just do less of it and keep your budget in mind

i have some growing up to do when it comes to my realization of the real world and i fully realize it. Hopefully i will learn to save my money before i make the same mistakes as others i know.

/rant

Good post +1

[Maniaç]

this is how i was brought up. save money, and if you have enough to do what you want with it, do what you want.
of course, you always have your times when you are not so lucky and have enough to do what you want. luckly im on my way to having pretty decent money saved up. and still be able to add more things to my car.

but to all the 12-18 year olds. save your fucking money.

[Vteckidd]

little bit of both IMO.

I save money for rainy days and i dont splurge all the time. about every 6 months ill buy some shit i know i dont need, like an XBOX, or car parts, TV, etc.

depends on what kind of money you make.

[Julio]

save bro.. dont plan on social security helping you when you are old.
401k,Roth, Cd's alot of shit out there for you to save and if you are smart, maybe retire a millionare working for someone else.

Unless you plan on starting your own business or winning the lottery.... save money.. save for your future (invest) and save for rainy days.

The younger you start investing in a simple 401k or roth accounts the better chances you have to retire with over a million bucks working for someone else.

You can still have fun and enjoy your $$. Just have to be smart about it.

[Halfwit]

i try, i have jsut started a job that is "promising" and better than any job ive ever had, i only have 3% going ot 401k, but company matches up to 6% so next time im able i think ill put it up to 6%.

not too interesteed in "investing, cd's,bonds ect" right now, mainly focusing on stacking a nice amount of money into a few savings accounts and checking. i have certain numbers i want to reach by certain ages.

[Maniaç]

in away i agree with julio.
but this is how i see it.. im young, so ill do this, save alittle but of money.. mod my car. save more money.. blah blah blah.
i know that in tne future my car isn't gonna be worth shit, but today, now. this is my passion and nothing is gonna stop me from doing what i love and care so much about.

[Julio]

i try, i have jsut started a job that is "promising" and better than any job ive ever had, i only have 3% going ot 401k, but company matches up to 6% so next time im able i think ill put it up to 6%.

not too interesteed in "investing, cd's,bonds ect" right now, mainly focusing on stacking a nice amount of money into a few savings accounts and checking. i have certain numbers i want to reach by certain ages.

Stacking? If you plan on saving money.. might aswell invest wisely.

short term CD's are good. I rather have my money earning better interest % then sitting in a dead beat low interest savings account that almost ALL big names banks have. tradional savings accounts are a joke , unless you look into CD's, Bonds, Money Market.

If you dont want to lock your money with CD's and want access to your money in case of an emergency..

Look into online banking.. HSBC, ING, CITI, they all privide great rates and easy to use.

I have an HSBC and ING account.. Im more active with my HSBC due to them paying 5.05 % right now and ING I think is at 4.75.. WAY more then local banks and big name banks around here.
And you can move your $$ when ever, with no penalty.

Just keep in your checking account what you pay bills with. Do not save money using your checking accounts. Your wasting your time.. even with the ones that pay interest. There interest rates are SUPER lame... and not worth time. Make your money work for you.

www.bankrate.com > great resources for finding good interest rates.

[Julio]

in away i agree with julio.
but this is how i see it.. im young, so ill do this, save alittle but of money.. mod my car. save more money.. blah blah blah.
i know that in tne future my car isn't gonna be worth shit, but today, now. this is my passion and nothing is gonna stop me from doing what i love and care so much about.



I'm telling you bro.. The younger you are... the better it is... to save an earn!

START SAVING NOW..

Lets say you are 18 years old... open a ROTH account and if you have the power to save/invest atleast $3000 a year until age 24 to 25.. you can leave all that money there and not save a dime until you hit 60 and have over a million bucks....

You can still have fun and save money...

But you dont have to listen to me about this.. Im only 28 years old...

I hope the older members on here chime in and let you guys know.

[Julio]

Look at it this way...

Wouldnt you rather be 40 to 45 years old traveling the world ?

OR

60 to 75 greeting and checking receipts at walmart ?


Social security is not enough fellas...

[Maniaç]

I'm telling you bro.. The younger you are... the better it is... to save an earn!

START SAVING NOW..

Lets say you are 18 years old... open a ROTH account and if you have the power to save/invest atleast $3000 a year until age 24 to 25.. you can leave all that money there and not save a dime until you hit 60 and have over a million bucks....

You can still have fun and save money...

But you dont have to listen to me about this.. Im only 28 years old...

I hope the older members on here chime in and let you guys know.
you say the same shit my dad does.. and yes you're 28. 8 years older then i am, i make an average of 30-40k a year. but i also pay, 600 a month for my car, 200 for insurance, aboiut 150 for gas. and maybe acouple dollars here and there for food.
im almost done "right" now with my car. i just need a tune and acouple more exterior mods and im done. for maybe half a year. thats when im really gonna save as much as i can.
+2 for your grown up words. :D oops


You have given out too much Reputation in the last 24 hours, try again later.

[Julio]

you say the same shit my dad does.. and yes you're 28. 8 years older then i am, i make an average of 30-40k a year. but i also pay, 600 a month for my car, 200 for insurance, aboiut 150 for gas. and maybe acouple dollars here and there for food.
im almost done "right" now with my car. i just need a tune and acouple more exterior mods and im done. for maybe half a year. thats when im really gonna save as much as i can.
+2 for your grown up words. :D oops


You have given out too much Reputation in the last 24 hours, try again later.





hahah making me feel old.. damn! Talking like your dad!

Open up a 401k when your young.. max that bitch out if you can... :D

[Halfwit]

i have been wondering abou the ING accounts. may look into it this week. i love the "let your money work for you" philosophy.

i dont make alot of money by any means, but at 19 i am happy with wha i make, and have no car payment, NO LOANS and it only takes 1 +1/2 weeks to pay all my bills out of the month.(gas/food/EVERYTHING) ( the whole id rather have a BALLER car if i want when im a lil older then a semi nice car now,) so ill drive hondas now , get whatever i want later.

[quickdodge®]

I hope the older members on here chime in and let you guys know.

You missed my first post? Lolol.

He's right, folks. I just opened an account with Edward Jones and, going through the numbers, if I had started investing in 1987 and checked it today, that money($200/month) would be worth about $611,000 right now. I'd still have 22 more years to work. That would put me at well over $1.2mil. Later, QD.

[Maniaç]

hahah making me feel old.. damn! Talking like your dad!

Open up a 401k when your young.. max that bitch out if you can... :D
haha, ill look into that in the near future.

[quickdodge®]

haha, ill look into that in the near future.

You don't have to put a shit load in it. $20-30/week will get a decent start. Later, QD.

[Maniaç]

You missed my first post? Lolol.

He's right, folks. I just opened an account with Edward Jones and, going through the numbers, if I had started investing in 1987 and checked it today, that money($200/month) would be worth about $611,000 right now. I'd still have 22 more years to work. That would put me at well over $1.2mil. Later, QD.
damn, i guess if you really think about it, its fucking worth it. might be easy for Americans, don't know how easy it is for Latinos.

[Halfwit]

i think i could push myself to put about 200/month into some sort of ing/hsbc account.

browsing hsbc as of now..lil confusing seeing as how im new to it, but ehh

[Julio]

damn, i guess if you really think about it, its fucking worth it. might be easy for Americans, don't know how easy it is for Latinos.



I will have over a million bucks by the time im 50.. maybe earlier in my 401k. Put it that way actually,Im shooting earlier.. well see. .. and im latino..

So unless, I will the lottery and come with a kick ass idea that will bring 7 figures in the my bank.. I will atleast have that...


Doesnt matter what race you are... the resources are out there....... just learn how to use them..


Sorry I missed/skipped over your post QD... edward jones is cool... ( I wouldve stayed with Vanguard =] ) haha is ok, I have my dough with franklin templeton....

All I have to say is.. the more Microsoft and walmart move ahead... the more smilie faces I get :D :D

[Vteckidd]

well im heavily invested in a few companies on the stock market right now that i hope to see returns on soon. short terms big payoff investments .

Long term, i agree with julio, although i havent done anything about long term yet. End of this year i hope to be putting away $3000-4000 a year

[Maniaç]

I will have over a million bucks by the time im 50.. maybe earlier in my 401k. Put it that way actually,Im shooting earlier.. well see. .. and im latino..

So unless, I will the lottery and come with a kick ass idea that will bring 7 figures in the my bank.. I will atleast have that...


Doesnt matter what race you are... the resources are out there....... just learn how to use them..
i see, my dad always tells me to save cause he won't be around forever. i guess i really have to thikn about my money, the more older i get the more the money comes and goes.

[EssAreTwenTee]

my mind swaps back and forth between the two many times a year.

want to see what ppl think, i know alot of ppl will say that they try to find a medium between thetwo, but WHAT I WANT TO KNOW is what is your philosophy on this>?

poll.

You not happy with the trailer park anymore?

[Julio]

i think i could push myself to put about 200/month into some sort of ing/hsbc account.

browsing hsbc as of now..lil confusing seeing as how im new to it, but ehh


Dont know where you work.. hopefully they offer 401k... I would find out more about that 1st....

And if they do not offer, look into a ROTH account... Roth's accounts have weird restriction... but is targeted more for the middle class income earners.

401k you can use for the future.. savings accounts you can use for rainy days and earn good interest without locking your money with CD's , Bonds etc

Is def going to be confusing at 1st... But well worth it

[Maniaç]

You not happy with the trailer park anymore?
rep'd. take that shit to another thread.

[Julio]

You not happy with the trailer park anymore?


I hope this is a joke ?

[Kyle]

I save almost every penny I make. I rarely if ever make impulsive decisions. Every now and then I think you need to do something for yourself, which is why I am getting a newer nicer car.

[Julio]

well im heavily invested in a few companies on the stock market right now that i hope to see returns on soon. short terms big payoff investments .

Long term, i agree with julio, although i havent done anything about long term yet. End of this year i hope to be putting away $3000-4000 a year

Stocks are great... I just dont have Balls that big.. lol

I think stocks are great if you are willing to spend time into them...


Stocks reminds me of when I was little and use to trade baseball cards and shit... to many risk...

But is a great way to make $$$ if you are brave,smart and have huge guts...

I just dont have huge guts.

[Maniaç]

julio, i can't stop staring at your long fucking sig. hahaha!

[SLow_POke]

GREAT INFO JULIO > > > >> > ...........

[Halfwit]

Dont know where you work.. hopefully they offer 401k... I would find out more about that 1st....

And if they do not offer, look into a ROTH account... Roth's accounts have weird restriction... but is targeted more for the middle class income earners.

401k you can use for the future.. savings accounts you can use for rainy days and earn good interest without locking your money with CD's , Bonds etc

Is def going to be confusing at 1st... But well worth it
YOU QUOTED ME A FEW MINUTES AGO TALKING ABOUT MY 401K

i dont live in a trailor park, i live in a house. he is amd because i made fun of his graphics on his ugly ass car.

i said my company matches up to 6% on a 401k, right now i am at 3%(so its 6% cause they match) but will put it at 6% next chance i get.

[Julio]

YOU QUOTED ME A FEW MINUTES AGO TALKING ABOUT MY 401K

i dont live in a trailor park, i live in a house. he is amd because i made fun of his graphics on his ugly ass car.

i said my company matches up to 6% on a 401k, right now i am at 3%(so its 6% cause they match) but will put it at 6% next chance i get.


Thats great... match once you can.. and you will be good to go!

[Maniaç]

this is rare to me to like a thread, i had a great time reading this shit. seriously. +5 stars.

[Kyle]

this is rare to me to like a thread, i had a great time reading this shit. seriously. +5 stars.
Aww you have maniac's approval Halfwit. I know that is what you were aiming for.

[Halfwit]

just set up a HSBC account..

i only put in 500$ to see how it goes.

[Halfwit]

Aww you have maniac's approval Halfwit. I know that is what you were aiming for.
life status: complete

[Maniaç]

casey, you know i love you... but why didn't you rep me earlier? QD fucked me up. haha! 7 blocks ftl.

[Halfwit]

I PUT U BACK AT 8 BLOCKS R U FUKIN HAPPY?

[Maniaç]

yes, thank you. :) and you give +12

[Halfwit]

now back to the money. lets all get rich.

[william_jeff]

it is better to save because primarily you never know what unforeseen things may come up. personally i am learning/trying to learn to save right now. i splurge alot on my cars, and right now i need to get that shit under control and learn to save so that when other things come up i won't have to live from paycheck to pay check inorder to get things done. smarter way to do things is to save obviously.

[JennB]

Like others have suggested, you find a happy medium between the two.

Personally, I have a high interest, online savings account that is there for emergencies. If something bad happens, I have the cash. I have a set amount deposited in it from each paycheck.

I also have a Roth 401K that is growing quite nicely. I started contributing to a regular 401K about 4 or 5 years ago and switched to Roth this year. Also, I increase my contribution amount every single year. First paycheck of each year, I request to have one more percentage point added to the amount I have deducted. Of course I'll get to a point where I can't do that anymore since there is a max, but I'm working my way up to that.

Once I reach the max on my 401k in a few years, I'll look into other options to continue saving as much as I possibly can.

I certainly don't deny myself some rewards in life, but I am very careful with my money. I have my 401K and savings taken directly out of my paycheck so it's no effort to save and once bills are paid, I can then look at what is left and decide what to do with that and still be comfortable knowing that I can splurge here and there because every month I get to see my savings grow. I believe that one key to saving is to do it automatically. You don't see the money so you don't miss it. You look at what is in your bank account after those deposits are made and that it the money you use to live your day to day life.

[Leadfoot_mf]

http://clarkhoward.com/shownotes/category/7/76/356/

[Subuari]

Every time I try to save up my money goes towards something else...work says that I've made $911 but I only have $300 something happened to the other 600+ I have no clue so I just give up on trying to save it's a waste of time and hope, to me.

[Brick]

The only way I save for tomorrow is with my 401k. I also try to keep enough in savings for emergencies. Other than that, I try to live life to it's fullest and not worry about money as long as my bills are paid. I've got plenty of life insurance to cover all my debt from having fun if I were to pass tomorrow :D

[silver]

I save two ways.. my 401k and then any extra money I have. I am always trying to save when I can. Other than my 401k it never seems to work sometimes though, lol. Im always having to pay something, go somewhere or whenever I have extra cash something always comes up that I have to put my money towards. I will say that I am alot better off than say 2-3 years ago. I had alot of debt ie oweing taxes to the government, stupid bills that I shouldnt have had in the first place.. and now that I have paid all that and am not in debt anymore, I have my one credit card and my car payment for my credit but I don't buy things anymore unless I can pay cash. Which allows me to save up money to go on vacation or to do things that I used to not have the opportunity to do. And then also put a little money away at the same time cause its nice to know I have my 401k, but it will be nicer when I have my 401k, a nice savings and also social security when im 59 or whatever age it is, lol

[AtifSajid]

This is the way I see it. Save your money..but when you have some you can spend SPEND THAT SHIT!

Thats what I do..but always know your limits and make sure you foresee your bills and any expenses.

[quickdodge®]

I've got plenty of life insurance to cover all my debt from having fun if I were to pass tomorrow :D

The problem is, what happens if you don't die tomorrow? Later, QD.

[quickdodge®]

Every time I try to save up my money goes towards something else...work says that I've made $911 but I only have $300 something happened to the other 600+ I have no clue so I just give up on trying to save it's a waste of time and hope, to me.

Sounds like me when I was stupid about this subject. Later, QD.

[2.0civic]

I think you should have enough saved for unexpected expenses but outside of that, you only live once...


Congrats on the new job man! no more working 2 jobs now?

[Julio]

Also live below your means...

Theres alot of people faking the funk out there today... Always LIVE below your means.. just because you can afford it doesnt mean you can buy it..

Buy & spend money smart...


God , I wish I knew what I know today... Glad im not to old...

good thread.

[2.0civic]

Also live below your means...

Theres alot of people faking the funk out there today... Always LIVE below your means.. just because you can afford it doesnt mean you can buy it..

Buy & spend money smart...


God , I wish I knew what I know today... Glad im not to old...

good thread.

i concur. Casey generally does make good ones pertaining to good topics

Im impressed with the way hes spent his money and still got some good rides at the same time for his age:goodjob:

[VooDooXII]

*Knock on Wood*

I'm good at saving money.

There are too many times where I think "This money could be used for better things."

Every now and then, I splurge...but I mean, that money gets spent sometime right?

[Halfwit]

I think you should have enough saved for unexpected expenses but outside of that, you only live once...


Congrats on the new job man! no more working 2 jobs now?
NOPE . im much happier, and i make the same amount, with 22 hours LESS a week.

i always live below my means so when i do live within my means its however i want to live.

[Halfwit]

more votes for ppl wanting to spend every paycheck ?

[112480]

more votes for ppl wanting to spend every paycheck ?

It's not going to happen casey. You need to SAVE....PERIOD!! I thought like you did for a long time and to some extent its true and tommorrow is not promised to you and I think a lot of poeple forget that when they tell you to save save save.

It's this simple... tommorrow is going to come whether you are here or not. When you don't have kids save money for a rainy day but at the same time if you want to blow a FEW checks(with having a nice bit saved up) then by all means do so.

NOW...... when you decide to have a kid(s) casey save for THEM! Have your life setup to accomnate them, i.e house or apartment, secure job, money saved, insurance(health, dental etc) etc, etc

You are only 19. HAVE FUN BUT BE SMART. Like I said tommorrow will come regardless if you're here or not, BUT just in case you are here, you need to have a secure financial life setup for yourself or your kids if you have some one day.

I know you're just curious as to what people would say but if you're really serious about this topic then I'll call you and talk to you in DEPTH about it.

[bunny]

i don't even have a job

[BlkCD5]

what most people don't understand about saving is interest. All of the older people i've talked with encourage saving and regret that they didn't save/invest in the past. I"d be patient for a while and save, rather not be old & miserable cus i didn't play my cards right.

[Halfwit]

i don't even have a job
well your obviously going somewhere in life!!






the homeless shelter
the welfare check line
bingo, hoping to hit the big one
trailor park
jail
death
back to moms house at 27 y/o
living in a car that doesnt run.



pick a few

[BlkCD5]

:lmao:

[dkjohnson04]

saving is good spending is fun.... i say save it

[KPowerEP3]

hmmm...

well, in theory, I say save, however in practice, I just pay my bills then spend my $$ like an idiot.

[devinwebb907]

i say you need to find a good medium. theres nothing worse than people who have money and dont enjoy it, but then again it is equally as worse when people spend all of their money and have none.