Hmm ok that sounds like a start. Thanks I’ll look into that. IDK about Tumblr but Deviant Art sure.
Normally I don’t brag, but screw it, LOL
So the credit card where I owed over $24,000 on no loner has that balance because the company decided to cancel the debt!
When I read that, I would’ve jumped up outta my chair like…
Seriously though, that is pretty awesome luck. Good for you. :tup:
-Starhammer-
After they ruin your credit rating they isn’t much they can do except sue which in your case wasn’t worth it I guess since you are small time. I wonder how long your credit rating will be bad for.
I basically set up rules for saving and what not.
- never pay full price for a game (trade in unwanted games if you have em).
- Won’t spend over $60 for sneakers
- Do certain repair work on your car (I saved a good $300 on a few repairs I did).
- If you don’t have anything you want to buy then save.
Also I try to make a game out of it as well. So seeing how much I would need to save daily to have $1 million by time I’m 40 (11 years). I hate math but love it when it comes to saving money.
Tumblr is great for posting up an online pirtfolio.
I would stay on top of your credit rating for a while. thats the type of shit that will haunt you and fuck up major plans.
Yeah, that canceled debt (not charged off) was at same time as the foreclosure/auctioned off of real property, so I was insolvent for 2013/2014. Some people told me that that’s “a perfect storm” so yeah, I got lucky…
When my friend got his first job out of college he set up maximum 401k contributions, which is an enormous chunk out of a starting salary. But he told me “I figure I’m used to being a poor college student, so I can deal with being poor a bit longer.”
How close are you guys to that 1 million? I read a couple post back about hitting it at 40 or 50 years old. How are you guys maximizing your savings & earnings.
Then ten or so years from now your friend is a millionnaire
Biggest sinks in money are women. Avoid ever giving control of your money to a woman and never ever take financial advice from one either. I suppose if she is an accountant I might look the other way.
Try saving up 100k first. You have to crawl before you leap. By May next year I’ll have roughly 120k in the bank. By the end of 2018 I should have 350k. it’s only possible if you have a six figure job or you have a wife that works. People under that have to get lucky or be some kind of tech wizard and come up with some apps for smartphones.
Rather than investing in stocks/property it’s probably a better idea to open your own business that generates income. This is what I plan to do.
With regard to paying into pensions from your salaries, I personally believe that by the time you collect it:
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Your pension may not exist (government spends it or the Ponzi scheme collapses as not enough young people will be around or have jobs to pay into it)
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You won’t be alive to collect it (government keeps raising the retirement age and men don’t live as long as women)
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You are too old to enjoy spending your money (your eyes are shit, you can’t walk, your dick is limp)
With company match on 401k, if you don’t put in the minimum it’s essentially throwing away money, especially with stocks as crazily overstated as they are right now. I would say the same about life insurance policies and possibly Health Savings Accounts.
These aren’t the same as pensions though.
I have some savings, but I mostly invest my money in other ways like paying off my mortgage. My biggest issue with accumulating that money in a savings account is that it is essentially devaluing itself daily because of inflation and I would rather put that money to work in an IRA or by lowering my overall debt. I am on about a 2-3 year plan to being debt free. I work for a company that has really good health care benefits, a 401k match and a pension. I’ve done most of my retirement planning assuming the pension won’t be there and that I will not get social security, but if those are options then all the better for me. I personally would love the option to put more toward my retirement as I feel the current limits are too low. I also wish they had higher income limits on Roth IRAs, because seriously even if you are making 191k+ per year as a married couple that isn’t shit after you buy a house in most metropolitan areas.
How old are you & how long have you been saving? Do you have kids? Do you already own a home? Your 120k, is that just in your savings account or is that including 401K/IRA, Bonds, Stocks?
For some reason we are having a hard time putting money into our savings account. We are debt free & make sure the credit card is zero by the end of the month. We are maxing out both our IRA. Almost done paying for college for our first kid. Then planned to enroll the other two kids next year. With the bills, there really isn’t that much left to put into savings.
Well I have 11 years left and nowhere near close to that million. But what I am doing now to maximize savings is being smart. I should have a bit more money because I just paid my car note off so that is in the clear.
A short list of how I am saving money:
- Save all my single dollar bills and change
- Automatically put a percentage of my check into savings.
- paying off student loans
- Staying within budget for things like groceries, clothes, etc
- doing certain car/home repairs myself
- When I want a new game I trade in some old games to cushion the $60 price tag
- I am taking advantage of my credit union’s %5 interest rate for savings. Really focusing on building that up as much as possible.
How close are you to that million @rcaido? Any Advice you can give us on saving, investing, etc?
Honestly I started with just putting like 50 bucks in my savings per pay check. Then I started making it so my check in the middle of the month was mainly for us to do with what we want and I started putting on average $200 a month in savings. Then I just started trying to build it and finding reasons not to buy things or if I do, I buy it out right. I like not having a car payment and what not, so I am not eager to go back to one.
Im way behind in that million. My only advice would be to start early as possible. As soon as you have your first job, you should already open up a roth IRA. Just paying the max of 5,500 a year when your 18 till 65 should get you that one million on that alone.
Sadly, i only started last year or so & im close to 40 years old. I was such a dumb fuck & just left the money into savings account. Slowly & slowly all that money in our savings got depleted because of emergency shit happening. Buying things & promise to put it back into the savings never happened either. Make sure you put that money into IRA or mutual funds so it will be harder to remove or just open another bank account not connected your regular debit/credit card bank.
- Get rid of your debt
- Limit your credit card spending, you should always pay it off before the next month start but make sure to also set a cap to how much you should spend on it.
- If you get married limit yourself to 2kids, one is ideal.
- Make sure your wife & yourself have the same plan, set goals with savings.
- Make an excel spreadsheet with all your monthly automatic expenses(rent/mortgage, utilities, car payment, insurance, phone bills, IRA) Whatever is left over you budget for food, put what you can into savings/vacation, & the rest treat yourself/allowance
- Cook your own meals
- Save up for an emergency fund only, up to 9months of expenses
- Have a piggy bank for loose coins & $1 & $5 bills.
- Have emergency cash stash away just for yourself. Dont tell anyone & not even your significant other where its at.
So best thing to do is start early & be aggressive with your savings.
Yooooo…I can’t not tell you how important that laat one is. Don’t tell a bitch shit about that money. If she feel petty after sometime she will try to get that money. For the love of god keep a secret stash my young up and coming brothers out there. These hoes aint loyal.