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PrintableJustErin said: truefunksoldier said: Why's that? Because I think what you said was stupid. Ah, well argued then. | |
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NDRU said: prb said: we kept the newspaper from the day my son was born, 10 yrs ago. wages havent increased by much, but rentals have skyrocketed. and this was b4 our country introduced a GST 
id love to save, but cant  rentals & home prices. That's part of why the real estate market tanked, because if wages don't increase at the same rate, who will be able to afford houses? You can give credit, but it has to be payed at some point. If people don't make as much money as they are spending it just can't work. But I do agree that most of us could be more responsible, and save something. our government increased the 1st home owners grant by 50% due to the economy, but whats the point in taking a mortgage if u dont have a job to pay 4 it
a few yrs back house prices went thru the roof here, they arent worth any more, but cost more. increased prices meant increased mortgages, which in turn meant increase rents. also, rentals became scarce, so the old supply and demand kicked in. one day, one day..... seems that i was busy doing something close to nothing, but different than the day before   | |
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CarrieMpls said: damosuzuki said: I've always saved as well. I'm doing reasonably well now, but I've certainly had times in my life (like everybody else) where things were very lean for me, and even then I always saved at least 10% of my net pay. I know there's a multitude of factors that play into what people can save, but I really do get confused I hear so many people say they can't save anything. I may get my head torn off for this, but to me it just comes down to discipline. I monitor my incoming & outgoing cash very closely & try to ensure I save at least 60% of my net pay every four weeks. If I don't make that figure (not including unexpected emergency expenditures), then I cut back next month. It may be a dreary way to live, but it pays dividends. [Edited 1/28/09 2:21am] I think there are a lot of reasons. Some of us were never taught to save. It can be as simple as that.  My parents to this day have money problems on occasion and my mother borrows money from me from time to time. I don't know what will happen when they hit retirement and are on a fixed income, but there you have it.  I just got a savings account for the first time about a year and a half ago.
And 60% of your pay goes into savings??? You must make a lot of money, have a low standard of living where you are, or both. I actually came in at a savings rate of 64% of take-home pay for 2008. I don't make a particularly great living - my salary's solidly above average, but it's nothing that would make anybody jealous. It's definitely true that Winnipeg is a low cost-of-living city, and I've exploited that to the greatest extent possible. I lead a very low overhead life, certainly. I made a very conscious decision years ago to try to put myself in the position of being able to retire at 50, and I've followed through on that to the greatest extent possible. Fundamentally, I view my finances the way a ruthless manager would view a business: I hack and slash away until there's no fat left. Cut your discretionary spending to the bone, then do the same to your fixed costs. As it currently stands, I could support my current standard of living for about 9 years without any further income. I'm bragging a little of course, and I'm sure I'm being something of a dick doing so in this grim thread, but I'm also saying it to point out that it's not that hard! Everybody has a ton of fat in their spending habits, but they probably 'normalized' it so that it feels necessary. If you get rid of it (cable, cell phone, restaurants, car, whatever), in a couple of months you'll never know you ever had it. To circle back to the topic of the thread in a roundabout way, I've occasionally considered walking away from work for a while & bouncing a ball off the wall of my apartment for 1/2 ayear or watching trashy tv, but I can't bring myself to do it because 1) I'm committed to my game plan and 2) the working situation I have now is the best I've ever had. If my job went away at this point, I'd probably cry like a little girl - our group is a lovely, low-key, easy-going bunch and the business has never functioned so well in most aspects. Plus I adore and love a couple of my staff like daughters I'll never have. Of course we'd all move on if something happened, but I'd really feel like I'd lost something special if it went away. [Edited 1/28/09 16:05pm] | |
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damosuzuki said: CarrieMpls said: I think there are a lot of reasons. Some of us were never taught to save. It can be as simple as that. My parents to this day have money problems on occasion and my mother borrows money from me from time to time. I don't know what will happen when they hit retirement and are on a fixed income, but there you have it. I just got a savings account for the first time about a year and a half ago.
And 60% of your pay goes into savings??? You must make a lot of money, have a low standard of living where you are, or both. I actually came in at a savings rate of 64% of take-home pay for 2008. I don't make a particularly great living - my salary's solidly above average, but it's nothing that would make anybody jealous. It's definitely true that Winnipeg is a low cost-of-living city, and I've exploited that to the greatest extent possible. I lead a very low overhead life, certainly. I made a very conscious decision years ago to try to put myself in the position of being able to retire at 50, and I've followed through on that to the greatest extent possible. Fundamentally, I view my finances the way a ruthless manager would view a business: I hack and slash away until there's no fat left. Cut your discretionary spending to the bone, then do the same to your fixed costs. As it currently stands, I could support my current standard of living for about 9 years without any further income. I'm bragging a little of course, and I'm sure I'm being something of a dick doing so in this grim thread, but I'm also saying it to point out that it's not that hard! Everybody has a ton of fat in their spending habits, but they probably 'normalized' it so that it feels necessary. If you get rid of it (cable, cell phone, restaurants, car, whatever), in a couple of months you'll never know you ever had it. To circle back to the topic of the thread in a roundabout way, I've occasionally considered walking away from work for a while & bouncing a ball off the wall of my apartment for 1/2 ayear or watching trashy tv, but I can't bring myself to do it because 1) I'm committed to my game plan and 2) the working situation I have now is the best I've ever had. If my job went away at this point, I'd probably cry like a little girl - our group is a lovely, low-key, easy-going bunch and the business has never functioned so well in most aspects. Plus I adore and love a couple of my staff like daughters I'll never have. Of course we'd all move on if something happened, but I'd really feel like I'd lost something special if it went away. [Edited 1/28/09 16:05pm]  Good for you, it takes a lot of discipline and restraint to do what you're doing.
I'd just add that there can be various ways to achieve the same goal. For me, the deprivation route doesn't work. I work hard and although saving is important I also want to enjoy my life. So I've always worked part time jobs to be able to save money and still indulge myself in various ways. It is possible to do both and everybody has to determine for themselves what they can and can't live without.  | |
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When I suddenly found myself unemployed, I didn't panic immediately. I got my resume together and started emailing it, faxing it, mailing it...everything possible. I also used my severance to pay my rent and utilities for a few months. I filed for unemployment, but here in Michigan, unemployment is a JOKE!
If it doesn't hurt your pride too much, government assistance is always available. Though it isn't much, they will help, especially if you have children. They can help you get back into school and you can utilize the "No Worker Left Behind" money for training. I actually considered this a while ago. Smooches;) | |
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PaisleyPark5083 said: psychodelicide said: Your husband is a very wise man to save a percent of his paycheck like that, because some people don't. When they lose their jobs, or an emergency situation comes up and they need money, they don't have funds to pay for it. So they wind up charging it, and have to pay not only what they charged, but also interest as well. Been there, done that, it's not a good situation to be in. Luckily, I don't charge much anymore, only what I know I can afford to pay. When the bill comes, I pay it off in full. Learned my lesson the hard way. We never charge anything, his number one rule. If we can't pay cash, we can't afford it. That's a very good rule to have.  RIP, mom. I will forever miss and love you. | |
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