Well, if one has no job then it would be wise to curb one's spending. I have a good paying job and I doubt I spend 40 grand in a year. Live within your means. It's no ones fault but your own.
Half of Americans are poor, have no savings
- Thread starter stinkynuts
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I've got 2 co workers that live 2 miles from work, they both take the ttc, I've suggested to them that they ride their bike to work to save money, but they balked. They' re both in their mid 30's and healthy dudes, the savings would be $1700 per year on a metro pass. I don't get it?????
I live within walking distance to work, I used to live 3 miles from work and rode my bike, I saved money and more importantly, I was in great cardio shape!
I live within walking distance to work, I used to live 3 miles from work and rode my bike, I saved money and more importantly, I was in great cardio shape!
At least they're taking transit. I know people that would drive the same distance and pay dearly for parking. Besides, you're not going to be biking to work in the middle of winter or in your nice suit.
the seller pays for each transaction so the cost goes up
You pay for CC even if you do not have one (around 5%)
there should be a cash discount
I do this. smartest thing you can do if you have the discipline. Ive often thought about living on my plastic, and paying the balance in full at billing. thank you for the delayed payment. thanks for the month extra interest on my money. thanks for the points
if you can be disciplined with your money management you can make money off your credit cards.
hell, you can borrow for investment reasons and write off the interest.
Looks like we went to the same school of SMART credit card usage.
Pretty much exactly how I manage my cards,...PLUS, I make money off the banks through investments,...they must just love us types,...
FAST
Minimalist lifestyle :encouragement:
Feels great and having less stuff in your house, condo, living space makes you feel better mentally just by the lack of stuff, Feng Shui I believe it's called.
I wanted to pay my mortgage using my credit card, but they said it was against the rules. I would've earned so many points!I do this. smartest thing you can do if you have the discipline. Ive often thought about living on my plastic, and paying the balance in full at billing. thank you for the delayed payment. thanks for the month extra interest on my money. thanks for the points
if you can be disciplined with your money management you can make money off your credit cards.
hell, you can borrow for investment reasons and write off the interest.
some apartment buildings(if you rent allow cc rent payments). smith maneuver is my next possibility. how great is it if I can pay off my mortgage and take a heloc out and write off the interest as a non rrsp/tfsa investment.
it gets me all excited in my wallet
My wife and I are fundamentally at odds over exactly this. I prefer less, she likes to have more. When we disagree, it's usually about this. Wants vs. needs.
Who out there has a solution?
If she works once she pays her share towards the bills and savings let her spend monay on what she wants.
If it's all your money, give her an allowance, and credit card with an absolute limit and tell her that's what she has. And not a penny more.
And don't fight. That's what they want. Remain entirely calm and firm and tell her that you are thinking of the future. Of proper savings in case of an emergency, if you should no longer be the breadwinner due to accident etc and for retirement.
And if she won't let go just calmly stare at her with your arms crossed, look her right in the eye throughout and let her wind out. They say, "done yet?".
Never raise your voice. And don't falter. Don't give in. Ever.
People are bad with money.
Way back I was breaking even every month between income and expenses and my salary was maybe $40,000. I had a place of my own (mortgage), a car which I was financing (not leasing), cable tv etc.... It sucked I was saving nothing, but it's doable. After paying for income tax and all the taxes paid when you buy things, I cleared maybe what? $30,000? And I lived. Never had credit card debt either.
Decades later, I make 6 digits, have tons of money, and dabble in real estate.
The key though is that my spending habits have increased, but by far not at the same level of my income increase. That's how you save money.
If my income has grown, but I'm spending it all saving nothing, then my situation is no better than 20 year ago. The problem is that when people get pay hikes, some people spend all gains. On the other hand, some people bank it. Those are the people with big bank accounts, can but multiple properties (which increase your assets even more) and don't care if they get fired.
I can afford the most expensive cable and internet pack, but why pay for it if I don't use it? What's the most expensive Rogers cable bundle? $100? Add in movies and sports pack and it's probably $150. What's a good internet tier? $60-80? So add them together, tax and unit rentals and there's some people paying $200/mth. And that excludes cell phone service. And I bet many of these people don't make good salaries. I pay $40 for basic cable, $50 for unlimited internet and I own the router and cable box. Add tax and I pay $100/mth.
If I really wanted to, I can go buy a 7 series BMW for cash. But why would I? I drive a crappier car. Who cares. But there are some people scrambling to scrape up money so they can afford a 3-series BMW because it looks cool and they think buying a good import car it puts them up a step in the rat race. So be it, that's your choice.
There's a couple I know whose combined income is maybe $100,000 tops. Not great by any means, but they have no kids. As long as they don't blow their money they should be able to live fine. Instead they are broke living pay cheque to pay cheque. And last time I heard, they still rent! Why? Because they both buy tons of shit, and don't care about waiting for sales. They are the types of people who just go to the store and buy it. If they want to buy new clothes, they just go to the mall and buy it. Doesn't matter if it's regular price. I buy clothes too, and I only buy it when it's 30-40% off (or more if I'm lucky). And somehow they don't realize that two people in their 40s and living like they are broke isn't exactly a great lifestyle. If one of them gets fired, they are toast.
It's all about lifestyle and how much effort people want to put into saving money and looking for deals.
Way back I was breaking even every month between income and expenses and my salary was maybe $40,000. I had a place of my own (mortgage), a car which I was financing (not leasing), cable tv etc.... It sucked I was saving nothing, but it's doable. After paying for income tax and all the taxes paid when you buy things, I cleared maybe what? $30,000? And I lived. Never had credit card debt either.
Decades later, I make 6 digits, have tons of money, and dabble in real estate.
The key though is that my spending habits have increased, but by far not at the same level of my income increase. That's how you save money.
If my income has grown, but I'm spending it all saving nothing, then my situation is no better than 20 year ago. The problem is that when people get pay hikes, some people spend all gains. On the other hand, some people bank it. Those are the people with big bank accounts, can but multiple properties (which increase your assets even more) and don't care if they get fired.
I can afford the most expensive cable and internet pack, but why pay for it if I don't use it? What's the most expensive Rogers cable bundle? $100? Add in movies and sports pack and it's probably $150. What's a good internet tier? $60-80? So add them together, tax and unit rentals and there's some people paying $200/mth. And that excludes cell phone service. And I bet many of these people don't make good salaries. I pay $40 for basic cable, $50 for unlimited internet and I own the router and cable box. Add tax and I pay $100/mth.
If I really wanted to, I can go buy a 7 series BMW for cash. But why would I? I drive a crappier car. Who cares. But there are some people scrambling to scrape up money so they can afford a 3-series BMW because it looks cool and they think buying a good import car it puts them up a step in the rat race. So be it, that's your choice.
There's a couple I know whose combined income is maybe $100,000 tops. Not great by any means, but they have no kids. As long as they don't blow their money they should be able to live fine. Instead they are broke living pay cheque to pay cheque. And last time I heard, they still rent! Why? Because they both buy tons of shit, and don't care about waiting for sales. They are the types of people who just go to the store and buy it. If they want to buy new clothes, they just go to the mall and buy it. Doesn't matter if it's regular price. I buy clothes too, and I only buy it when it's 30-40% off (or more if I'm lucky). And somehow they don't realize that two people in their 40s and living like they are broke isn't exactly a great lifestyle. If one of them gets fired, they are toast.
It's all about lifestyle and how much effort people want to put into saving money and looking for deals.
