kingfish Posted April 30, 2011 Report Share Posted April 30, 2011 (edited) Do you have a job? If so, how much do you save and how much do you spend? I know a lot of people on here like buying expensive basketball shoes consistently, video games, tickets, etc. Im curious to know how you guys manage your money cause a lot of you are about the same age as me (18). As for me, I like buying whatever interests me. I dont really save money much cause I have my whole life for that. While im young and dont really have any expenses I like to spend much of what I make. But I dont buy things that are totally unneccessary and I try to find the best deal on whatever I buy. Edited April 30, 2011 by kingfish Quote Link to comment Share on other sites More sharing options...
Jammin Posted April 30, 2011 Report Share Posted April 30, 2011 I make more money than I can spend at work (no brag) so I usually just spend my money on whatever I want and always have money left over to put in the bank. I usually just spend my tips, save my paychecks and then roll up coins and leftover tips and put all that in the bank every 2 weeks. Always adds up incase I need to make a big purchase. Quote Link to comment Share on other sites More sharing options...
Jenneral Posted April 30, 2011 Report Share Posted April 30, 2011 I usually save half of what I get. It's nice to have a little reserve built up in case the car needs to be fixed or something out of the ordinary happens. But basically I just don't buy unnecessary things. I buy things that I need and really want. I usually won't buy something the first time I see it because usually by the time I get home I realize that it would have been a waste anyway. I used to buy all the new sports games each year plus titles like Call of Duty but I've been cutting back on that as well. Just not as interested in video games to justify dropping $60 the day something comes out. Quote Link to comment Share on other sites More sharing options...
SRV Posted April 30, 2011 Report Share Posted April 30, 2011 (edited) I don't have a job so whenever I do get money I spend it right away because there is just so much I want. I usually spend it on clothes and just buying like 2 t-shirts and some jeans blows a majority of the money I get for my bday and stuff. I am sure if I had a job saving money would be easy, but getting money like three times a year on a holiday just sucks. This doesn't take into account the money I would waste on gas, thankfully my parents pay for my gas, if not, I would never have money. Video game stuff has dropped off though. Back in like 08-09 I was buying every game that came out....now I only buy like 2 games a year, not even full price, I just traded in all the old games I had. Edited May 1, 2011 by SRV Quote Link to comment Share on other sites More sharing options...
ChosenOne Posted April 30, 2011 Report Share Posted April 30, 2011 I have been saving the majority of my money lately for a vacation I have planned late in the summer. My goal is to do what ever, and buy what ever on the vacation, I really just dont want money to be an issue. Quote Link to comment Share on other sites More sharing options...
Guru Posted April 30, 2011 Report Share Posted April 30, 2011 I really need to stop spending money. I want to work over the summer but I need to take extra classes to make sure I graduate on time. <_< [expletive] double majoring. It's all good though, I some how made it through last summer with only 100 bucks. (Parent pay for my gas #winning) This year I have 350 plus I should make some back when I sell my books. But at the same time, I turn 21 at the end of August so I need to put away a decent amount for that. Quote Link to comment Share on other sites More sharing options...
Nitro Posted April 30, 2011 Report Share Posted April 30, 2011 I spend my money on hookers and Samuel Jackson... http://4.bp.blogspot.com/_OJl6ATsGFco/TLZtA_9gGII/AAAAAAAAHas/hjwlj6g49Ls/s1600/assdasdasasdasdasdasdsad.jpg Quote Link to comment Share on other sites More sharing options...
Flash Posted May 1, 2011 Report Share Posted May 1, 2011 I get paid every 2 weeks anywhere from $300-$450. So I just take that check to the bank and deposit some for taxes and then the rest goes on my card or I take out in cash. I try and budget myself so I have enough for any shoe I want that comes out and then a couple tees. Quote Link to comment Share on other sites More sharing options...
Multi-Billionaire Posted May 1, 2011 Report Share Posted May 1, 2011 (edited) Ahhhhhhhhhhhh moneeeyyy My favorite method in managing your money Divide your income into:- 10% - Savings- 10% - Investing - 10% - Charity/ tithing- 70% - Expense Explanation:Savings - you'll find you actually have more money than you thought if you make an effort to save your money. Investing - the secret to wealth, here is where your money works for you, e.g. if you buy an item for $100 and sells it for $150 (your $100 goes out and works hard for you, and fetches $150). That's a $50 profit in one move! That item is your "investment". This investment brings only 50% profit. There are investments that bring 100+% profits. Key is to find what those investments are. Would you rather: - your money works hard for you like the example above- your money works lazily for you (like a monthly bank interest)- you work hard for money (like all employees, and finding it hard to be "affluent" financially, let alone "rich") Charity/ tithing - the secret to success... most people would rather keep their wealth to themselves... but you're not truly successful until you use your talent/ wealth/ knowledge/ asset to help other people. "Pure joy comes from giving" - Jack Canfield. Giving away your money will make you see money and world (people around you) from another different perspective you've never had before... and I promise it is going to be a thrilling/ fulfilling experience... Spending - this is where you buy your foods, clothes, bills, rent, entertainment, etc... everything that you spend for yourself falls under this category. Like Savings category above, you'll find you actually have more money than you thought if you make an effort to spend less. Key - - you have to pick a number and be committed to it. For me, my numbers are (16.6% Savings, 16.6% Investing, 16.6% Charity, 50% Expense). If you find it hard to part with 10% of your money for charity purposes, you can always reduce the percentage from 10% to, say, 5%, or 1% (if you're stingy haha). If you find it hard to spend only 70% of your income on Expense, you can increase the number to, say, 75% or 80% (the less the number, the better)... BUT ALL THESE 4 CATEGORIES (SAVINGS, INVESTING, CHARITY, EXPENSE) MUST EXIST. - make sure you take out money from the right category... e.g. don't take out money from your "Investment" and buy a HD TV (it should be under "Expense")... don't take out money from "Charity" and finance your investment (it should be under "Investment")... etc. --- Multi-Billionaire's take: this is I think the most basic/ easy/ comprehensive system to manage your money. If you have a hard time managing your money, adopt this method, and be committed to it, and I promise you will find improvement you've been looking for. Edited May 1, 2011 by Multi-Billionaire Quote Link to comment Share on other sites More sharing options...
Multi-Billionaire Posted May 1, 2011 Report Share Posted May 1, 2011 I usually save half of what I get. You, sir, are a stud. 50%? You better not exaggerate. If you don't, good on ya, keep it up! Quote Link to comment Share on other sites More sharing options...
Jenneral Posted May 1, 2011 Report Share Posted May 1, 2011 You, sir, are a stud. 50%? You better not exaggerate. If you don't, good on ya, keep it up!No exaggeration. I'll soon be "Multi-Billionaire jr." on OTR. Quote Link to comment Share on other sites More sharing options...
Karl Malone Posted May 1, 2011 Report Share Posted May 1, 2011 Save half my pay check for bud, a quarter saved for beer, and the rest for some fresh threads on anything else. Quote Link to comment Share on other sites More sharing options...
GamerGuy Posted May 1, 2011 Report Share Posted May 1, 2011 Pretty easy for me, there's nothing to manage. Quote Link to comment Share on other sites More sharing options...
trutrojan8 Posted May 1, 2011 Report Share Posted May 1, 2011 I don't spend my money on too many things, just shit I want. It's nice to have a feeling you could get a bunch of things though, due to just saving money. Quote Link to comment Share on other sites More sharing options...
Dr. Feelgood Posted May 1, 2011 Report Share Posted May 1, 2011 (edited) I get paid about $285 a week but have rent to pay ($360), phone bill ($90-$100), loan I took out ($82), cable/electric/water/etc ($60), food ($90), gas ($30-$40), for fun ($100). That's all based off a one month period with the exception of me getting $285 a week. I'm pretty good with managing my money, there have been times when I'll spend more than I want and it'll come to bite me in the ass later. I have all my bills taken out within the first week of the month which is something I like, it gets all the bills out of the way and then I just gotta manage my money smartly for the rest of the month. I work 40 hours a week and have rent and bills to pay, it's kind of tough but you just gotta be smart and have will power. Edited May 1, 2011 by Dr. Feelgood Quote Link to comment Share on other sites More sharing options...
Legacy Posted May 1, 2011 Report Share Posted May 1, 2011 I basically save all of my paychecks in my bank account. Parents pay for majority of my stuff still. Only time I really use my money is when I go out with friends and school related stuff. Quote Link to comment Share on other sites More sharing options...
Multi-Billionaire Posted May 2, 2011 Report Share Posted May 2, 2011 I get paid about $285 a week but have rent to pay ($360), phone bill ($90-$100), loan I took out ($82), cable/electric/water/etc ($60), food ($90), gas ($30-$40), for fun ($100). That's all based off a one month period with the exception of me getting $285 a week. I'm pretty good with managing my money, there have been times when I'll spend more than I want and it'll come to bite me in the ass later. I have all my bills taken out within the first week of the month which is something I like, it gets all the bills out of the way and then I just gotta manage my money smartly for the rest of the month. I work 40 hours a week and have rent and bills to pay, it's kind of tough but you just gotta be smart and have will power. Can't help but notice... $285 per week on 40 hrs? That means you get $7/ hr? Are you an apprentice in any field that gets paid junior wage until you're qualified? If not, you should seek how much is the minimum wage in your area. If you're not apprentice, I do think you're underpaid. Quote Link to comment Share on other sites More sharing options...
Dr. Feelgood Posted May 2, 2011 Report Share Posted May 2, 2011 No, I make $10 an hour but have a lot of taxes taken out. I claim 0 and get about $120-$150 taken out each week due to taxes, though on my tax return, I got about $980 from federal and $89 from state, so it's kind of like a savings account in a sense. I do think I am underpaid for the work that I do considering the other person who does exactly what I do but in much less quantity and probably gets paid about $12-$14 bucks an hour. The job is pretty easy, I can do what I want, say what I want, wear what I want as long as the job gets done (which it does all the time). Right now, finding a job that will pay $10 an hour or more is very rare in Gresham right now. Quote Link to comment Share on other sites More sharing options...
Jammin Posted May 2, 2011 Report Share Posted May 2, 2011 This is why jobs with tips = dominate. I always save my paychecks (only work 10 hours a week, so my checks are usually $250) and blow my tips and save whatever I don't spend. I work with 2 sexy bitches so that helps me with making moneyy. Plus drunk people are really generous. Sometimes I can make upwards of $800 for 10 hours of work. Quote Link to comment Share on other sites More sharing options...
Big Penny Posted May 2, 2011 Report Share Posted May 2, 2011 50% of wages = spend on w/e50% of wages = saved for car insurance/driving lessons 100% of ema = saved for car insurance/driving lessons Quote Link to comment Share on other sites More sharing options...
La Bomba Posted May 2, 2011 Report Share Posted May 2, 2011 Cut a yard, get paid and blow it all on alcohol and food. Quote Link to comment Share on other sites More sharing options...
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