lol, thanks for translating that into english....I had NO clue what she was talking about! hahaha... And yeah...dude...Does it make coffee?!
Saving Money
- Thread starter KellyFrancis
- Start date
lol, thanks for translating that into english....I had NO clue what she was talking about! hahaha... And yeah...dude...Does it make coffee?!
Thanks!
dxdx said:
lol...ummm...good luck?
David R said:
lol, right? I never understood the whole fashion thing either. I dress for comfort, as can be clearly seen by the fact that I own more pajamas and fuzzy socks than legit clothes. lol. And my purse is a black binder clip! Anything else I need, I usually need a backpack for for school.
Some good stuff here.
I think something that catches a lot of people up is increasing consumption as your income rises. If you get a raise, instead of thinking what you are going to spend the extra money on, continue living as if that extra money wasn't coming in.
Something to consider is that it doesn't always make sense to aggressively pay down your mortgage. For example, if you've recently refinanced and are down in the 3.5% range, I think a well diversified portfolio is going to get you a better return than 3.5% over the long term. If rates were around 15% like they were in the early 80s, it's a no brainer, but now adays it's not such a clear cut decision.
Some books that have opened my eyes and have had an impact on how I save and invest:
Random Walk Down Wall Street- Burton G. Malkiel
Boglehead's Guide to Investing- Taylor Larimore, Mel Lindauer, Michael LeBoeuf and John C. Bogle
The Richest Man in Babylon- George S. Clason
The Four Pillars of Investing- William J. Bernstein
The Coffeehouse Investor- Bill Schultheis
The Little Book of Common Sense Investing- John C. Bogle
Many of these books should be available at your library so you don't have to go out and buy them.
"An investment in knowledge pays the best interest."
-Ben Franklin
I think something that catches a lot of people up is increasing consumption as your income rises. If you get a raise, instead of thinking what you are going to spend the extra money on, continue living as if that extra money wasn't coming in.
Something to consider is that it doesn't always make sense to aggressively pay down your mortgage. For example, if you've recently refinanced and are down in the 3.5% range, I think a well diversified portfolio is going to get you a better return than 3.5% over the long term. If rates were around 15% like they were in the early 80s, it's a no brainer, but now adays it's not such a clear cut decision.
Some books that have opened my eyes and have had an impact on how I save and invest:
Random Walk Down Wall Street- Burton G. Malkiel
Boglehead's Guide to Investing- Taylor Larimore, Mel Lindauer, Michael LeBoeuf and John C. Bogle
The Richest Man in Babylon- George S. Clason
The Four Pillars of Investing- William J. Bernstein
The Coffeehouse Investor- Bill Schultheis
The Little Book of Common Sense Investing- John C. Bogle
Many of these books should be available at your library so you don't have to go out and buy them.
"An investment in knowledge pays the best interest."
-Ben Franklin
I have a very simple outlook towards money .
When it comes to savings , you have only 2 choices . Earn more or spend less.
I choose earn more , cause compromising is not in my nature morever providing to the very best of my abilities to my family is the only reason I work in the first place.
Hence when I have age on my side I do multiple jobs. ( actually I think I am overworking, maybe a fw more years , then I will whittle down my ventures).
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When it comes to savings , you have only 2 choices . Earn more or spend less.
I choose earn more , cause compromising is not in my nature morever providing to the very best of my abilities to my family is the only reason I work in the first place.
Hence when I have age on my side I do multiple jobs. ( actually I think I am overworking, maybe a fw more years , then I will whittle down my ventures).
Sent from my GT-I9003 using MonsterAquariaNetwork App
Amen to that! Since we first lived together my wife and I have gone from living on a poor student and a supermarket workers wages to both having good jobs each earning more than we earned combined ~7-8 years ago. The lifestyle easily cheanges to match the income...
This is so true! For wife and i we started out living off just my income. Every year she makes more and more but we still dont have any savings!
We do have a pool in put back yard. Nice cars. Great vacations.....
I know we can go back to just living off my income but i dont want too.
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One of the most important tips for saving, especially for the long term, is to start as early as possible. If you start at age 25 for example, you can save and grow that money for 40 years before you will need it. Even if its $50/paycheck now, when you get a raise or better paying job, increase it to $100.
If you put away the money as soon as you are paid, and don't even consider spending it, it becomes much easier. Once money goes into my savings, it doesn't come out. It just isn't even there.
My million dollar goal wasn't trolling, I've been saving and investing since 23... This great recession means I will never make that goal, but I will someday...
If you put away the money as soon as you are paid, and don't even consider spending it, it becomes much easier. Once money goes into my savings, it doesn't come out. It just isn't even there.
My million dollar goal wasn't trolling, I've been saving and investing since 23... This great recession means I will never make that goal, but I will someday...
Question for you all...In light of the economic condition, is there a benefit in putting money away in some sort of account that has a huge return on it? I remember WAAAY back in high school (5 years ago, lol) we were learning about the different ways of investing our money and one of those was (I believe it was called) a CD? Some sort of account where you lock your money away for like 50 years and it turns into a nice chunk of change? Do those things exist anymore and do they really work like that? My concern is that I will never see it again cuz the world will collapse before I get to see it come full term. lol, probably not a realistic fear, but there nonetheless. And something I am hesitant to talk to a banker about for obvious reasons.
CDs still exist, but you won't make much money off them since the interest rate is low...
Look into the Vanguard 500 Index Fund... it's a way to invest in the stock market, but not on any one individual stock. There's no cost, unlike other mutual funds.
Look into the Vanguard 500 Index Fund... it's a way to invest in the stock market, but not on any one individual stock. There's no cost, unlike other mutual funds.
