• Light/Dark

PSA: Please watch your spending!

Do you watch how you spend your money?

  • Not really...

    Votes: 87 6.8%

  • Kinda?

    Votes: 430 33.6%

  • LOL. I wish I had money to worry about spending, you dork.

    Votes: 170 13.3%

  • I don't gotta worry like that... no offense.

    Votes: 80 6.3%

  • Of course. Money is precious.

    Votes: 512 40.0%
  • Total voters
    1,279
Mediking

Mediking

Final Fantasy Best Boy (Grip)
Member
Oct 25, 2017
22,022
St. Louis City, Missouri aka Persona 3's Dorm
*insert long string of curse words and crying*


I'm gonna this as short as possible.


I have a good paying job. I make good money. I have been spending wayyyy more then I usually do. I've been balling out, guys. I've been buying, buying, and MORE buying. When I see something interesting or cool, I buy it. When a family member asks for help, I usually help.


It finally caught up to me. I finally decided to check my bank account today and my jaw hit the freaking floor. I nearly screamed in shock. I'm so close to being flat broke that it's not even funny.


Don't be like me. Now I hafta scramble for pennies and other stuff just to survive until my next paycheck. Life shouldn't be like this.


I know some of you guys are gonna laugh and stuff and that's chill… but I'm kinda being serious. WATCH YOUR MONEY.

This whole thing has taught me a valuable lesson to watch literally every dollar I spend. And if any of ya'll are living paycheck to paycheck.... I feel you. I feel for you.
 
Cenauru

Cenauru

Dragon Girl Supremacy
Member
Oct 25, 2017
6,174
I also learned the hard way that not all payments process in under a week. That means that $500+ school payment you made last week might not get processed immediately and suddenly you're scrambling to get out of the red because you bought something else while the school payment was still processing, and my dumb ass didn't remember it until I was suddenly in the negatives a few days later.

Monodi said:
Side advise: almost NEVER use a credit card. Only crack it when you are on a real pickle that needs to be solved asap.
Click to expand...
Click to shrink...

What I've been told to do is pay bills with a credit card, use a debit card on everything else. I don't have a credit card just yet cause I don't want one, but that's what I'll be doing when I eventually need to get one.
 
Mendrox

Mendrox

Banned
Oct 26, 2017
9,439
Uhm...so you never managed your money? One of the biggest lessons you will learn.

Chandler said:
I also learned the hard way that not all payments process in under a week. That means that $500+ school payment you made last week might not get processed immediately and suddenly you're scrambling to get out of the red because you bought something else while the school payment was still processing, and my dumb ass didn't remember it until I was suddenly in the negatives a few days later.
Click to expand...
Click to shrink...

I can see this being a problem. Glad we don't have that in Germany. Money is immediately gone or rather blocked for the transaction, but you can't do anything then with it.
 
OP
OP
Mediking

Mediking

Final Fantasy Best Boy (Grip)
Member
Oct 25, 2017
22,022
St. Louis City, Missouri aka Persona 3's Dorm
Chandler said:
I also learned the hard way that not all payments process in under a week. That means that $500+ school payment you made last week might not get processed immediately and suddenly you're scrambling to get out of the red because you bought something else while the school payment was still processing, and my dumb ass didn't remember it until I was suddenly in the negatives a few days later.
Click to expand...
Click to shrink...

SO FREAKING TRUE!!!!!!!!!!! THIS HAPPENED TO ME TOO!!!
 

Deleted member 41178

User requested account closure
Banned
Mar 18, 2018
2,903
Hypron

Hypron

Member
Oct 27, 2017
4,059
NZ
I've got this thing set up that automatically puts x$/month in investments each month, that way I don't feel bad for spending the rest (and I don't even spend all of it anyway).
 
HardTimesFamilyPride

HardTimesFamilyPride

Member
Oct 26, 2017
8,055
Appalachia
Hey man, I make barely anything. After rent, the monthly phone bill, and saving money to pay my parents back for helping me out last year, I have enough for necessities and that's about it. Was even worse when I was drinking. Nobody ever gave me any advice on managing my funds; they just put a horrid fear of debt in my head (which led me to not touching credit cards and probably not having any credit now).

As I was reading I was worried you were gonna eventually say you lost your job somehow. I'm glad you didn't! Sucks you are nigh-broke atm but you are in an ok position to build those savings back up, yea?
 
OP
OP
Mediking

Mediking

Final Fantasy Best Boy (Grip)
Member
Oct 25, 2017
22,022
St. Louis City, Missouri aka Persona 3's Dorm
jb1234

jb1234

Very low key
Member
Oct 25, 2017
7,293
I have so little money available to me that I keep a very tight leash on it. I guess this would bother me more if I got much pleasure out of buying shit but I don't. In fact, I've been downsizing more than ever.
 
Piichan

Piichan

Member
Oct 28, 2017
903
Tokyo
I feel you OP, have the exact same issue. I go out drinking way too much, and will have to start looking at my expenses more.
 
Adam_Roman

Adam_Roman

Member
Oct 25, 2017
3,086
I manage money very well because my parents were (and still are) so horrible at it, and they've had a hard life because of it. Unfortunately they don't listen to me when I tell them how easy it can be to take care of your finances because I'm barely an adult in their eyes. I saved well enough to where I've been able to keep my head above water the past 4 months as I've been unemployed and going to a therapist and psychiatrist to get my medication straight and learn to cope with my anxiety better.

Money makes so much sense to me, I've never had any serious issues or lapses in judgement with it.
 
Gibbo

Gibbo

The Fallen
Nov 20, 2017
743
Monodi said:
Side advise: almost NEVER use a credit card. Only crack it when you are on a real pickle that needs to be solved asap.
Click to expand...
Click to shrink...

I disagree. Unless you have terrible money management skills. Accumulated tons of miles cashback via my Citi cards. I've been paying them off monthly in full since I first got those cards in 2012.

I make it a habit to review my e statements every week, and get rid of recurring payments that I no longer need (newspaper subs,etc)

It's quite shocking how many people don't understand how credit cards work. Some friends I know just pay the minimum balance every month- and you know how that story plays out
 

Spuck-

Banned
Nov 7, 2017
996
General life advice:

Mostly variations on 'Stop buying shit you don't need.'

Stop buying nerd shit, collectors editions are dumb as hell and all those plastic bits and bobs will gather dust

Buy decent clothes in classic styles that will actually last.

You don't need a huge house, you definitely don't need to mortgage/rent to the very limit of your ability to pay for it.

Stop buying stuff on credit. If possible, pay off your debt and cut up your credit cards.
 
julia crawford

julia crawford

Took the red AND the blue pills
Member
Oct 27, 2017
36,197
Lol I check my balance after every expense. Keeping it in check is the only way to survive.
 
Jisgsaw

Jisgsaw

Member
Oct 27, 2017
3,479
If it helps you, here's how I do it, when I want to buy a new thing:
1)Is it under 100€ AND i haven't bought anything else this week? If yes buy it, if not next step
2) wait a week to see if I still want to buy it
3) Do I still want it? If its less than 10% of my savings (and less than a month salary), wait another week, and if I still want it, buy it

You'd be surprise the amount of shit I avoid to buy like this.
 
OP
OP
Mediking

Mediking

Final Fantasy Best Boy (Grip)
Member
Oct 25, 2017
22,022
St. Louis City, Missouri aka Persona 3's Dorm
Yerba_Sutra said:
Hey man, I make barely anything. After rent, the monthly phone bill, and saving money to pay my parents back for helping me out last year, I have enough for necessities and that's about it. Was even worse when I was drinking. Nobody ever gave me any advice on managing my funds; they just put a horrid fear of debt in my head (which led me to not touching credit cards and probably not having any credit now).

As I was reading I was worried you were gonna eventually say you lost your job somehow. I'm glad you didn't! Sucks you are nigh-broke atm but you are in an ok position to build those savings back up, yea?
Click to expand...
Click to shrink...

Dang, man. :/

But yeah. I'm gonna bounce back from this stronger than ever.
 
neonglow

neonglow

Member
Oct 25, 2017
805
Mediking said:
Don't really keep receipts....



Just a bunch of stuff. Stuff like clothes and alotta random stuff that's just built up to a huge freaking amount.

I'm holding a huge L right now.
Click to expand...
Click to shrink...

If you used a credit card to buy things, you don't need the receipt. You can just ask the store to look up purchases on your card. I know it works this way at Target.
 
Amalthea

Amalthea

Member
Dec 22, 2017
5,770
I never made a lot of money and it has been a bad year with tons of unexpected high bills that have ravaged my savings account.
It really puts into perspective how everything can always go worse even if it's already bad. I basically subsist myself on pasta, rice and bulgur at the moment.
 
TheFireman

TheFireman

Banned
Dec 22, 2017
3,918
Pro tip: Leach. Leach hard. Family members, friends. Anyone who can spend money to buy something you want. Just fuckin' leach off of them as hard as you can.
 

Deleted member 17952

User requested account closure
Banned
Oct 27, 2017
1,980
Of course I watch how I spend. I spend 5% of my salary on food so I can spend 90% of it on Gunpla and games.
 
Malverde

Malverde

One Winged Slayer
Avenger
Oct 27, 2017
3,646
Unceded Tongva and Acjachemen land
On the credit piece, unless you absolutely know you can't trust yourself, always use a credit card but treat it like cash. A good credit score is always useful and most credit cards have rewards you can take advantage of. It is literally free money as long as you pay it off in full, which you will because you are treating it the same as you would cash in your pocket. Pay attention to your bank account and make a conscious decision as to how much of that you will be treating as disposable income.
 
HardTimesFamilyPride

HardTimesFamilyPride

Member
Oct 26, 2017
8,055
Appalachia
Mediking said:
Dang, man. :/

But yeah. I'm gonna bounce back from this stronger than ever.
Click to expand...
Click to shrink...
Don't feel bad for me hahaha. I've lived a pretty exciting life for the most part that a lot of people have told me they're jealous of, I'm taking steps to improve my situation, and I'm surrounded by a very supportive friend group who I'd consider family. Very blessed in a number of ways.

You got this! Looking forward to hearing about how fat your pockets are soon. :)
 
Deathglobe

Deathglobe

Member
Oct 25, 2017
1,553
Florida
Honestly it sounds like you impulse bought a lot of shit. Don't get me wrong I do it too I bought over 3k in comics last year to build a collection now I don't want half of them.
 

Dez_

Member
Oct 25, 2017
182
Darknight said:
Why would I leave money on the table by not using a credit card? Terrible advice.
Click to expand...
Click to shrink...
I believe the idea behind it is that you are more aware of what you spend when when buying things in cash rather than place it on a credit card, thus you're more likely to not make as many spontaneous purchases, supposedly. It's an additional psychology thing, one that I can understand, but it also comes down to how well you can control your own spending habits. I pretty much buy everything on card when I can and pay it off every few weeks, get the reward points so I definitely wouldn't pass that up, but I can understand why some people advise against it. There are plenty of people that don't use credit cards right and put themselves further into debt.
 
Jintor

Jintor

Saw the truth behind the copied door
Member
Oct 25, 2017
32,765
You Need A Budget.

Great software. I got the pre subscription version, but honestly, even the sub version is fine. Learn to budget, my dude.
 
OP
OP
Mediking

Mediking

Final Fantasy Best Boy (Grip)
Member
Oct 25, 2017
22,022
St. Louis City, Missouri aka Persona 3's Dorm
Amalthea said:
I never made a lot of money and it has been a bad year with tons of unexpected high bills that have ravaged my savings account.
It really puts into perspective how everything can always go worse even if it's already bad. I basically subsist myself on pasta, rice and bulgur at the moment.
Click to expand...
Click to shrink...

Wow...

Wait whats bulgur?
 

Annatar86

Banned
Jan 16, 2018
356
I make decent money and spend a lot. I have an excel file where I write all my pyachecks and expenses and try to plan everything so I end the year with net earnings, I even try to do that every single month, but that can only be done to a certain extent since some expenses are greater than a paycheck so there is really no way for me to end every month with a gain.

Could I save a lot more if I spent less? Sure.
Could I spend a lot more, hope no emergencies arise and still probably stay afloat? Sure.
I like to keep a sort of middle ground, I buy everything I can easily afford without thinking too much about it (anything below 500$), and for bigger expenses I check if I can still end the month positively or (if it's an even bigger expense, say the upfront payment of a car) if I can save a bit so the aggregate of 2-3 subsequent months is still going to be positive.
I also like to never drop under a minimum in my bank account (around 5 grand) for emergencies (medical or "need a brand new computer tomorrow because mine was stolen/blew up").

My idea is that I work so I can afford stuff, and I'll buy that stuff right now. I'm not for making sacrifices with savings so that MAYBE I can reap the rewards in 30 years, I understand people who do that, it's just not for me.
 
Martin

Martin

One Winged Slayer
Member
Oct 25, 2017
2,432
I always watch at my spendings.
Try to use an app or some excel table to monitore it.
 
Jintor

Jintor

Saw the truth behind the copied door
Member
Oct 25, 2017
32,765
God we don't have a Budgeting |OT| anymore huh do we

I could wax lyrical about YNAB for days. Although honestly I could also probably use it better because I'm a bit in-debt right now (couple of unexpected heavy shots)
 
zulux21

zulux21

Member
Oct 25, 2017
20,474
Mediking said:
I have a good paying job. I make good money. I have been spending wayyyy more then I usually do. I've been balling out, guys. I've been buying, buying, and MORE buying. When I see something interesting or cool, I buy it. When a family member asks for help, I usually help.
Click to expand...
Click to shrink...
I just want to mention be very careful with this. It's a good way to put strain on a relationship and put those people in the situation you have been in where they haven't been taking care of their finances properly. If someone knows that there is someone out there that will bail them out they are less likely to obsess over making sure they are never in the situation that needs bailed out.

Also, please don't just start watching your purchases but put a decent chunk into retirement. I don't know how old you are, I'm going to guess somewhere between 20-30, but every year earlier you can put money away from retirement the easier it will be to retire in general.

$500 put away at age 20 and assuming a 5% annual return will net you $3,520 at age 60
meanwhile that same amount put away at 30 at 5% annual return will only net you $2161 at age 60.

even though the amount of time is only 33% longer (40 years vs 30) the amount at the end is about 63% larger.

and as another member said if you can manage your finances get a credit card to funnel your purchases through. If you want to be lazy there are 1.5% back cards that are pretty easy to get, and as long as you pay it off in full each month it just means everything you buy is 1.5% cheaper (if you want to not be lazy look into the credit card thread here which talks about the rotating cards which often have up to 5% back). Plus it helps build credit in the long term since how long you have had credit is one of the conditions that determines your credit score.
 
battousai

battousai

Member
Oct 25, 2017
908
After I became a parent, pretty much all discretionary expenses took a back seat, Daycare is expensive.
 
-JD-

-JD-

Avenger
Oct 27, 2017
3,511
The more time I spend on gaming side, the more I inevitably spend. So I try to not linger for too long.
 
You must log in or register to reply here.