After this was brought up in the Sprawl thread I thought I would start a thread about budgeting and finance and hope we can share some tips on how to save here without giving financial advise.

 

We all have everyday needs, Groceries, Laundry/Dry Cleaning, thrift shopping, etc.  List suggestion on how to save on your hot water bill, gym membership or mobile phone bill.  List sources you may have for coupons or post links to sales and our vendor discounts that UO forumers might find beneficial.

Let's see...

 

Food

-Thrift Bakeries: I buy bread there- use the first loaf that week, and freeze the other 3.

-Don't eat it all now- save some for later: I make my rainbow pasta jubilee for about $3 a serving- and I make enough for 3 meals. I buy a special XL Pizza from a local shop on tuesdays for $10, it lasts 3 days.

-Buy in Bulk, but not from Sam's: I learned that those places, as cool as they may be, only serve a purpose for offices, large parties, and the Duggars. Cereal is a big thing for me, so I wait til Tar-zhay has it on sale, in the family size for 2.33. I do the same with Tuna (in water, not oil), Whole wheat pastas (usually TJ's), and yogurt which tends to be on sale a lot these days.

-Stop buying bottled water: Get a brita pitcher and filter, a nice water bottle, and do this instead. Not only is it better for you and the enviroment, it's just plain cheaper.

 

Clothing

-Thrift Stores: I spend my work clothes money here...since I'm in QA and sit at a computer all day and only wear shirts and khakis, I don't want to spend too much money on these clothes.If you Look hard enough, these places have some nice stuff too!

-Online Nation: Check the online sales. ON always has big online sales and many times the shipping is next to nothing. Amazon too.

 

Electronics/Entertainment

-Floor models: I spent  $400 on an 32' LCD TV, a DVD Camcorder, and a 7.1 MP Digital Camcorder. Just before a store is getting ready to take something back to the manufacturer, it's DEEPLY discounted down. Granted I have a slightedge cause I work for a dept. store (HINT: It has a major body part in the name) but I know of a LOT of stores that do this.

-I have a big DVD collection. And not just movies...lot's of TV show collections (the office, scrubs, newsradio, buffalo bill, simpsons, etc.) the key is, I never pay retail for it- I wait until it ends up at the exchange for $15 and get it that way...

 

I know I have more, I just cant think of any right now....

If you have kids, use Craigs List.  I can't tell you how much money we have saved on our kids things off of there.  Kids out grow things and parents need to get rid of them, so the site is flooded with that stuff.  We bought a pack n play one time on threre for $15.  Probably a $80 dollar savings.

I voted No. You have to have money to have a budget.

I do budget, but am just now starting to really get into being serious about it, and am deficient in ways to save money (other than obvious skimping).

 

The Craigslist idea worked for me & furniture too.  That, and TJ Maxx for accessories & clothes.

A lot of my "budgeting" is through locking in good rates:

 

1. Signed on at my gym in 1997 via a friend who worked there at the time. She gave me the lowest possible rate - $24 a month.

2. Consolidated two student loans at a fixed rate of 3.5%.

3. My cellphone is five years old, and I'm still on AT&T's "legacy" plan - no texting, but my monthly rate is $29.99 ($35ish after taxes/fees). If I get a new phone, I'll lose that cheap rate.

 

I've also started brewing my own coffee at work - I used to go out twice a day (nothing foo-foo, just large coffee @ $2 a cup). I'll be saving over $1,000 a year by doing this.

Food: I shop for food only at natural food markets or co-ops, so saving money is a little hard here. But I compare prices a lot -- for instance, Clif bars at Good Foods Co-op are only 89 cents, versus $1.10 at Whole Foods and $1.14 at Kroger's organic section.

 

I purchase only organic milk, which lasts for a month (instead of a one or two week shelf life) and since I do not drink milk all that much, it saves me money. A half gallon typically runs me $3.00 or a little less, but if I'm really flush with cash, I'll go for a local producer whose milk is ... creamy. It's VERY delicious.

 

Clothing: I shop at JCrew mostly, so ... saving is kind of hard. I use a student discount (they never check to see when it expires) which cuts 10% off right there -- and my parents, who also shop there, will often go with me to use the discount as well. I use my JCrew credit card to accumulate points, which I can use to get even more discounts. I also receive their e-mails, and can save more there.

 

Electronics: I don't really save here, and only look at quality versus price. I want something that will last me years, isn't from Wal-Mart (or replace it with your typical garden-variety discount center), and will only be slightly outdated in a year or two. For instance, my Gateway HD monitor is 25-inches, has a 8,000-1 contrast ratio, is wide screen, and contains all the HD hookups. I now use it not only for my computer, but for television and movie viewing, replacing my television. I could have gone cheaper with something with far less contrast ratio, but the quality isn't simply there.

 

Gasoline: Don't buy the cheapest gas most of the time. Our BP stations here in Lexington were owned by one individual who had been using a mixture of various gasolines, and a test revealed that some batches were of inferior quality. His prices are always cheaper, but I'd prefer not to have my engine seize on me on a long trip (e.g. what happened in Louisville en mass a few years ago). I typically use Thornton's or Marathon.

 

I sell a lot of goods online through Amazon. All my old textbooks ($4 at the local campus store versus $90 at Amazon!), books that I never read, electronics, etc. I made $800 last quarter through this... not making a lot to sustain, but it's nice to have a little extra.

 

I drive far less too, and at slower, calmer speeds. My average speed on the interstate is now 70 MPH (down from 80 MPH) and my average MPG overall has increased from around 21 MPG to 25.5 MPG. My next goal is to start taking the bus to work versus driving or biking -- biking leaves me in a sweaty situation, and driving ... while only 3 miles one-way, only adds to the CO2 issue and wastes money. A bus ticket costs only $1 one-way (or around 50 cents with a pass), and it's only on one bus line that drops me 1 block from work. Driving takes 10 minutes, the bus ride is 10 minutes, and the bike route is nearly 30 minutes.

oh ok.  Well then carry on man.  Carry on.

Generally speaking, yes I do have a budget...but as David touched on I don't have much money being in college and therefore don't have much to budget.

 

I do have a spreadsheet that I run on a quarterly basis that factors in my major expenses (i.e. tuition, health insurance, car insurance, car payments, gas, etc) and then input my rough income.  This basically dictates how much I have to work, because I do not have the time to work enough to save any kind of substantial amount of money...so I live to get by right now (get by with no debt that is).

 

But as it goes right now I have zero off days as I go to school M-Th and work F-Sun.  Time off in between classes is spent studying and doing homework, and time after classes is spent in meetings.

 

So basically I budget for time, not necessarily money at this point.  That will hopefully change a year from now.

I don't budget, but I do have a sense of where I want to be each month with my overall expenses.  I put mostly everything on my credit card (but pay it in full monthly) so that I can see where my money is going and make necessary adjustments in the future.  Plus, I'm building up points for Browns tickets!

 

I get most of my entertainment from the Cleveland Public Library.  There's almost always something interesting to check out.  I order a lot of materials over the 'net there, too.

 

I either go home from work to make lunch or bring it to the office.  It's usually the former because I don't have the time to make something up in the morning. 

 

To dress my place up, I took some of my photos to Sam's Club and had nine printed on 8"x10" photo paper for around a $1.50 each.  I picked up some frames, some for $4 at Marc's and some at Michael's for no more than $16, bought some mats, and decorated my walls in one of my rooms very nicely for about $120.  I could've spent that much or more on a piece of art in Tremont, it's a little more custom, and people are always impressed that I took all of them.

 

I have the tendency to buy things when I really need them.  I have pretty good self control when it comes to impulses.

 

I splurge on occasion, but my justification is that I don't blow money on cigarettes or at bars.  I figure that I work hard enough that I should treat myself every now and then.

In terms of saving, I buy stuff online.  Books are typically what I need if I can't get them through Ohio Link or the normal public library.  Just on 1 single book this quarter I saved myself $100 by buying the book online vs. from the campus bookstore.  Very nice.

I have pretty good self control when it comes to impulses.

 

That is my biggest down fall.  Don't let me see it or I have to have it, now.  Especially gadgets and man toys.

A lot of my "budgeting" is through locking in good rates:

 

1. Signed on at my gym in 1997 via a friend who worked there at the time. She gave me the lowest possible rate - $24 a month.

2. Consolidated two student loans at a fixed rate of 3.5%.

3. My cellphone is five years old, and I'm still on AT&T's "legacy" plan - no texting, but my monthly rate is $29.99 ($35ish after taxes/fees). If I get a new phone, I'll lose that cheap rate.

 

I've also started brewing my own coffee at work - I used to go out twice a day (nothing foo-foo, just large coffee @ $2 a cup). I'll be saving over $1,000 a year by doing this.

 

It's amazing how those little things like coffee add up. I can't believe you've had your phone that long. I'm really absent minded and either lose my phone or somehow spill water on it and have to get a new one every 6 months. Otherwise I'd be perfectly fine with having an old sh!tty phone. As long as it can call people who the hell cares!

^-----"Time off in between classes is spent studying and doing homework..."

 

Uncle Rando Posts:  10426 (11.223 per day)  :wink:

Man toys? My dad will make random trips to Lowes' and just gaze and stare at power tools and plumbing. For me, it's cameras.

.For me, it's cameras.

 

Must be the Asian genes. I keed I keed.

 

Man toys? My dad will make random trips to Lowes' and just gaze and stare at power tools and plumbing. For me, it's cameras.

 

I with your dad.  I love my power tools!

I don't have a "budget" per se but do balance my checkbook regularly and I do a debt-to-income spreadsheet twice a year. 

 

Our biggest indulgence $-wise is food.  However, we do cook a lot at home which is a big savings.  We get takeout about once a week and go to a sit-down restaurant about once a month. 

 

We put CFCs in for all our regular light bulbs and in the evenings burn candles instead of turning on lights to try to save a few pennies on electricity.  We also never turn on our a/c but that may be because we're freaks and we like it hot.

 

I got a 15% discount on my monthly cell phone bill through a not well-advertised program at work.

 

I just signed up with a different company for my Internet and cable service which is going to save me $25 a month.

 

My husband went through consumer credit counseling to get all his cards down to one monthly payment.  In 3 more years his debt will be completely paid off.

 

We rarely buy new clothes and if we do, it's almost always at the store where I work PT so we get the employee discount.  I never buy anything that's full price, either at that store or others, I just shop the sale racks.  The other clothing store I regularly visit has me on their coupons mailing list so when I get coupons and need clothes, I shop there.  I also get coupons for 2 different shoe stores.

 

The biggest impact on our financial household has been my 2nd job.  It doesn't pay a lot and there aren't a lot of hours to be had during the slow retail season right now, but at minimum it covers the cost of one of our car payments each month, usually a little more than that.  I would say it definitely covers the cost of my car payment plus gas, since my gas expenses are small since I take the train to/from work.  We both work 2nd jobs during "seasonal" time (Xmas).  All the money we make at the 2nd jobs goes into savings - this is the ONLY way we can save.

 

We don't spend on technology. We are so behind the times it's not even funny. We have (and still use) a RECORD PLAYER.  While we did get rid of our cassettes, we have an old stereo and mostly listen to the regular (free) radio for music.  Sometimes I play iTunes radio when I'm at home.  We have a really old 20-inch TV that someone gave us when his mother died, it was hers.  I have no idea how old it is.  The picture is not fantastic but it works just fine.  Someone gave us our surround system for a joint birthday party a few years ago so it's tolerable to watch/listen to.  The computer we have I got from my last job when I was laid off, I talked them into giving it to me as sort of a parting gift (I worked in the IT department).  We only have the one desktop and the one TV.  Archaic, no?  But we do have digitial cable because we watch a lot of TV, and high speed internet. 

 

I do online surveys and every few months have enough points to get a free blockbuster coupon for one free rental for a period of 6 months.  When we have the coupons is about the only time we rent movies.  Otherwise we just watch what Tivo captured for us. 

 

Our entertainment budget is basically non-existent.  We rarely go out to the movies, couldn't tell you the last time we went.  Other than dining out we don't go to bars or clubs, almost never go to concerts (last concert we went to was Live Earth last summer in Jersey), we don't entertain others because we don't have the room, etc. 

 

I read a lot and utilize the library heavily.  I occasionally use them for movies as well.

I've gotten some really good ideas!  I need to replace all my lightbulbs this weekend.

 

I'm still need a way to save on "energy" hog appliances that I leave plugged in although not always in use such as the toaster, chargers, microwave, etc.

 

R-N-R made a good point, check with your company for local discounts on cell phones, cable, banking, etc.  and many museums, points of interest offer discounts to companys if you show your ID badge.

Unplug anything that isn't in use.  Obviously the fridge and microwave can stay plugged but we unplug everything as soon as we're done because if you keep it plugged into the outlet, even if it's off, they have to deliver more electricity to you.

You also might want to sign up for the dollar stretcher newsletter.  Sometimes they have good tips.  http://www.stretcher.com

I see lots of budgeting on here but little savings.  One thing I was taught, even as a child (I'm talking all the way back to when i was getting allowance), is to pay yourself first.  Take a portion of everything you make and put it in a savings account.  Initially it doesn't matter if it's $10 a pay (personally I go by percentages)... it is just the act of doing it that you need to get in the habbit of.  Human beings tend to live to their compensatory means.  Your natural tendancy is to spend what you have.  You will be amazed at how easily you will still be able to "get by" even though you have taken this money away from yourself in the beginning.  And to those who say they don't make enough to do this I say Bullshit.  When i was fresh out of school making 26k a year, I was in significantly better financial shape than some of my friends who were making twice what I was.  Because I saved every pay period, and I never bought things I couldn't afford to pay with in cash.  Yes it wasn't particuarly fun, but I also never racked up debt outside my student loans, and left myself in great shape once I did start making more money.

 

As far as budgeting goes, I created an xcel spreadsheet that could probably put both Microsoft Money and Quicken out of business.  I pay by everything by CC (and pay it off each friday, not even at the end of the month) and keep the reciepts, and every couple days i pull the reciepts out and log them in the spreadsheet.  So I have running tabs on how much I am spending on each "category" at all times.  I think you will be amazed what it does for you "seeing" how much you are spending where all the time... you end up having the conversations with yourself like, "holy shit, have I really spent "x" amount dining out (going out, clothes, plug your category here, etc) this month so far?" And then you consciously tend to curb that area because you are thinking about it.

 

Plus one of the tabs on my sheet shows my "fixed" costs at a glance... All the various set bills, set income, set savings, etc... so I am constantly reminded of about how much I have "left over" in a given month... of course the goal is always to come in below so I can transfer more to savings... but you get the drift.

McCleveland, that sounds similar to what I have.  I have mine broken out by vendor and by category.

 

I also agree that one should save immediately, 100 a saving or 401k (since your company will match) is the best thing you can do.  I'm blessed that I never had any student loans.  That seems to be peoples biggest expensive over a long period of time.

Everyone's situation is different.  Believe it or not, there ARE people who don't make enough money to save, whether because they aren't making enough, have a huge amount of medical expenses that rack up quickly, don't have insurance, etc. (in my case, a combination of those)  Living on credit is sometimes the only way one can survive.  Once you get behind that 8 ball it is very difficult to dig yourself out.  $26K is one thing.  My first year out of college I made $4000 and was on food stamps.  There just wasn't anything to save.

 

 

Yes, everyone's needs are different, but I Mayor McCleveland is speaking about when you're gainfully employeed, since those things can be deducted straight from your check.

 

 

Does anyone know if banks will do the following:

 

on a set date each month, transfer X dollars from checking into saving? I'd like to save a certain amount from each paycheck and I don't want to trust myself to do it.

Agreed MTS. 

For some people, becoming "gainfully employed" takes five or more years working in their respective industry. I would have KILLED to be making a "measly" $26K right out of college, I don't think I hit that until my 3rd or 4th year out. I'm still undoing damage from the early years of having to put car repairs, etc. on a credit card. I cackle when I hear recent college grads who think it's tough to manage on $40K a year.

 

That said, I've been putting 10% into my 401K for a while and I'm building up a modest savings for a "rainy day" fun.

 

3231, can you work with your employer to set up your direct deposit to do that? I'd think they could deposit your paycheck in more than one account.

Does anyone know if banks will do the following:

 

on a set date each month, transfer X dollars from checking into saving? I'd like to save a certain amount from each paycheck and I don't want to trust myself to do it.

 

I don't know if the bank can do it.  I think you might have to set that up online yourself.  I have reoccurring transfers set up at Key and Chase, so I feel safe in saying that the other banks offer this.

For some people, becoming "gainfully employed" takes five or more years working in their respective industry. I would have KILLED to be making a "measly" $26K right out of college, I don't think I hit that until my 3rd or 4th year out. I'm still undoing damage from the early years of having to put car repairs, etc. on a credit card. I cackle when I hear recent college grads who think it's tough to manage on $40K a year.

 

3rd or 4th year?  Now I really feel like a failure.  I don't think I made that much for at least 10 years post-college.  Yeah, I forgot about the car repairs, ugh that was bad too.  I think a lot of people also seem to have parents who can help out in a pinch, who also helped them through college, or who they can move in with after college and I never had that.  My college was 100% funded by either loans or grants and by my PT work in college jobs.  I have been out of college for 17 years and I still owe several thousand dollars, and this is with a bachelor's degree from a state school.

For some people, becoming "gainfully employed" takes five or more years working in their respective industry. I would have KILLED to be making a "measly" $26K right out of college, I don't think I hit that until my 3rd or 4th year out. I'm still undoing damage from the early years of having to put car repairs, etc. on a credit card. I cackle when I hear recent college grads who think it's tough to manage on $40K a year.

 

That said, I've been putting 10% into my 401K for a while and I'm building up a modest savings for a "rainy day" fun.

 

3231, can you work with your employer to set up your direct deposit to do that? I'd think they could deposit your paycheck in more than one account.

 

Understood, but even if you are making 26k or less, I still think its wise to put that minimum 3% (or is it 2%) into a 401k.  Is it tough?  

 

Probably, for young people who probably never had to be financially accountable.

 

However, putting money away for that big purchase or retirement later on in life is worth it.

 

This also, goes back to many people not being taught how to budget when they were younger and or falling for campus credit card schemes which were rampant in the late 80s and 90s.

^don't feel two bad, my wife and I owe about $250,000 in student loans for our three grad school degrees. Luckily we have no debt from undergrad.

^don't feel two bad, my wife and I owe about $250,000 in student loans for our three grad school degrees.

 

H O L Y  S M O K E S!   :-o And you've got a new house and babies.

"Understood, but even if you are making 26k or less, I still think its wise to put that minimum 3% (or is it 2%) into a 401k.  Is it tough?"

 

No bourgeoissh!t Sherlock, it's wise, but yeah it just might be tough for some people who don't have two homes and spend their career jetting around the world.  :roll:

Ugh.  That must press on you terribly.  Hopefully the graduate degrees can result in more substantial income throughout the rest of your life.

Does anyone know if banks will do the following:

 

on a set date each month, transfer X dollars from checking into saving? I'd like to save a certain amount from each paycheck and I don't want to trust myself to do it.

 

Absolutely they should be able to this.  I get paid every other friday.  I had my bank set up an automatic transfer every other friday from checking to savings.  it is far and away the easiest way to save (i do this in addition to my 401k).  You can't spend what isn't there.  About every 2 months I try to increase the amount i have automatically deducted to my savings.  And somehow I always end up OK.  I've always found you adjust to what you have left to spend.

No bourgeoissh!t Sherlock, ...

 

LOL

 

 

I watch Suzie Orman on tv sometimes. Anyone else ever watch her? She gives some good advice, a lot of it is common sense but I love how people will call in and she'll just let people have it and make them look like fools.

Everyone's situation is different.  Believe it or not, there ARE people who don't make enough money to save, whether because they aren't making enough, have a huge amount of medical expenses that rack up quickly, don't have insurance, etc. (in my case, a combination of those)  Living on credit is sometimes the only way one can survive.  Once you get behind that 8 ball it is very difficult to dig yourself out.  $26K is one thing.  My first year out of college I made $4000 and was on food stamps.  There just wasn't anything to save.

 

 

 

R&R... yes everyone's situation is different.  And there are certainly some whose situation makes it very difficult if not impossible to save. I don't mean to condescend to people in those very real situations. But there are still a staggering amount of people who don't have such dire situations, that "think" they don't make enough to save.  My point is that if I was making 26k (and I know that's not exactly wellfare, but it's also not exactly easy street), had credit debt from college, had student loans, lived on my own completely supported myself... and still managed to contribute to a 401k AND put "something" in a savings... then the vast majority of people can.

We'll just agree to disagree then.    :-) I will agree with you to a point, there are a lot of people who COULD be saving who are not.  But just because you are able to do something doesn't mean everyone else in the country is able to do it.  That's just not a logical connection to draw.  In addition to situational problems many people are just not that smart.  People may not be able to go out and get a great job.    I also feel health-related expenses and the under- and un-insured are IMO a huge contributor to debt in this country.  I'm not saying there aren't different choices people could be making, but drawing a parallel between your personal experience and saying that the vast majority of people could do the same thing is IMO a big jump. 

In addition to situational problems many people are just not that smart.

Bingo.

 

I also feel health-related expenses and the under- and un-insured are IMO a huge contributor to debt in this country.

I don't disagree with this one bit.

 

I'm not saying there aren't different choices people could be making,

 

I guess this is my point. There are many people out there who probably could be savings but don't really want to face the harsh realities of what it would take to do so.  It certainly isn't fun cutting back so much on all the things people like to do.  As a matter of fact it sucks... But it works.

 

We'll just agree to disagree then.    :-)

:-)

"Understood, but even if you are making 26k or less, I still think its wise to put that minimum 3% (or is it 2%) into a 401k.  Is it tough?"

 

No bourgeoissh!t Sherlock, it's wise, but yeah it just might be tough for some people who don't have two homes and spend their career jetting around the world.  :roll:

MayDay, that was really, really ugly unfair of you to say that.

 

I'm talking from my experience when I graduated, I was in the same boat as many of you, minus the student loans.  Hell, I almost didn't get a job, luckily for me there were some promotions in the BP PR divisions and I was the last person to be hired.  I wasn't making that much.  Hell I remember thinking that my $27 rapid pass was outrageous!

 

I lived with my parents, scratched and saved for 2½ years and paid rent ($175) to live in my bedroom.  My father told my brother and I he wasn't going to take care of two grown ass men and if we wanted to stay in HIS house, we had to pay rent.  And trust, living father is the worst than any landlord you could have, you live by his rules and he doesn't take checks - cash or postal money orders only!

 

My comments weren't made to be mean or condescending yet state that if the situation is right you can still save and have a life.  In Cleveland there are plenty of free things to do and baby you can bet your last dollar I used to exploit those.

Everyone's situation is different.  Believe it or not, there ARE people who don't make enough money to save, whether because they aren't making enough, have a huge amount of medical expenses that rack up quickly, don't have insurance, etc. (in my case, a combination of those)  Living on credit is sometimes the only way one can survive.  Once you get behind that 8 ball it is very difficult to dig yourself out.  $26K is one thing.  My first year out of college I made $4000 and was on food stamps.  There just wasn't anything to save.

 

 

 

R&R... yes everyone's situation is different.  And there are certainly some whose situation makes it very difficult if not impossible to save. I don't mean to condescend to people in those very real situations. But there are still a staggering amount of people who don't have such dire situations, that "think" they don't make enough to save.  My point is that if I was making 26k (and I know that's not exactly wellfare, but it's also not exactly easy street), had credit debt from college, had student loans, lived on my own completely supported myself... and still managed to contribute to a 401k AND put "something" in a savings... then the vast majority of people can.

 

I think the problem for a lot of people is that they spoil themselves and create a status quo for themselves that is far too high. For some, they're used to a particular lifestyle growing up. My peers who I'm around are still somewhat dependent on parents and what their parents don't give them, they compensate for with credit card use with funds funneled from student loans. I think the habit continues out of college as well. Once you're used to your lifestyle it's hard to give it up.

 

People never like giving up what they have acquired. My mom for example needed money quick and mindlessly depletes money from an IRA account she inherited but she had to wait a month in order to do that. I told her she needs to sell some of her assets; maybe rings, one of her cars, etc. She prefered the idea of taking out a short term loan instead. I tried to explain to her that cars do not appreciate in value,they decrease. It's a much smarter move for her to get rid of her SUV than sell stocks when the market is terrible. 

 

Emotions get in the way of rationality.

Ugh.  That must press on you terribly.  Hopefully the graduate degrees can result in more substantial income throughout the rest of your life.

 

Luckily, the wife is an MD.

Ugh.  That must press on you terribly.  Hopefully the graduate degrees can result in more substantial income throughout the rest of your life.

 

Luckily, the wife is an MD.

 

:)

 

I lived with my parents, scratched and saved for 2½ years and paid rent ($175) to live in my bedroom.  My father told my brother and I he wasn't going to take care of two grown ass men and if we wanted to stay in HIS house, we had to pay rent.  And trust, living father is the worst than any landlord you could have, you live by his rules and he doesn't take checks - cash or postal money orders only!

 

Ahhh another person from the club of parents who charge their grown children to pay rent.  As a matter of fact my parents actually raised my rent every few months to drive home the point that there were no free passes in life.  They also made me get a job the day after my 14th birthday, and sat me down to explain to me the virtues of money, and saving.

 

I think parents play an unbelievably pivotal role in this.  If you work with your kids early enough, they are much better prepared for the crap they will run into once they get out on their own.

I guess this is my point. There are many people out there who probably could be savings but don't really want to face the harsh realities of what it would take to do so.  It certainly isn't fun cutting back so much on all the things people like to do.  As a matter of fact it sucks... But it works.

 

I agree with that and would like to add, there are people that are just unaware or didn't have anyone in their life to lead them down the road of financial responsibility.

 

I lived with my parents, scratched and saved for 2½ years and paid rent ($175) to live in my bedroom.  My father told my brother and I he wasn't going to take care of two grown ass men and if we wanted to stay in HIS house, we had to pay rent.  And trust, living father is the worst than any landlord you could have, you live by his rules and he doesn't take checks - cash or postal money orders only!

 

I think parents play an unbelievably pivotal role in this.  If you work with your kids early enough, they are much better prepared for the crap they will run into once they get out on their own.

 

I have often wondered about this.  My parents were both from extremely poor families and I grew up poor, albeit not nearly as poor as they did.  They started savings accounts for us when we were little and bought savings bonds with what they could (which my dad cashed when he was forced into early retirement before he died, thanks, dad).  They encouraged both me and my sister to do well in school and to go to college.  But in many ways, I consider both of us a failure and think that part of it is because they were never able to convey to us the importance of getting a good job and making a lot of money, because they never HAD good jobs or made a lot of money.  In fact, people who made a lot of money were assumed to be like the bosses they worked for - nasty, smug, the "evil rich" if you will. It's like they knew vaguely that going to college could make you better off, but that was it.  The lesson just never sunk in.  The only lesson I learned is "live for today" for tomorrow we may be unemployed, broke or dead.

"My comments weren't made to be mean or condescending yet state that if the situation is right you can still save and have a life."

 

They came across as neither mean or condescending, more like bubble-headed.

^don't feel two bad, my wife and I owe about $250,000 in student loans for our three grad school degrees.

 

H O L Y  S M O K E S!   :-o And you've got a new house and babies.

 

"New house" is a relative term. It was constructed in 1870. :)

Ahhh another person from the club of parents who charge their grown children to pay rent.  As a matter of fact my parents actually raised my rent every few months to drive home the point that there were no free passes in life.  They also made me get a job the day after my 14th birthday, and sat me down to explain to me the virtues of money, and saving.

 

My father was a trip.  My brother was already living at home and asked my father why he had to pay rent since my cousin was living at home and didn't have to pay.  So my father told my brother to go live with my Aunt and Uncle.  And said since being a responsible adult is too much for him to handle, then you wont do it here for free.  So he my dad raised his rent from $50 to $125.  Which screwed me, because I was graduating.  I swear I should have been born first!  :evil: 

 

When I graduated my brother still paid $125, but i had to pay $175 because I had my own bathroom and my father stated I used more water and gas than my brother.  I couldn't wait to move.  The irony is my parents have never changed my bedroom and I still have clothes there since I sleep over often.

I think parents play an unbelievably pivotal role in this.  If you work with your kids early enough, they are much better prepared for the crap they will run into once they get out on their own.

My father took us to society to open up saving accounts when I was younger, and I always put my allowance in there.  I still have that account to this date.  In high school I tutored (thank God for dim wits and dumb jock's) and worked at Arabica, because I wanted to buy my own clothes.  Passing simple things down from generation to generation.

 

I have often wondered about this.  My parents were both from extremely poor families and I grew up poor, albeit not nearly as poor as they did.  They started savings accounts for us when we were little and bought savings bonds with what they could (which my dad cashed when he was forced into early retirement before he died, thanks, dad).  They encouraged both me and my sister to do well in school and to go to college.  But in many ways, I consider both of us a failure and think that part of it is because they were never able to convey to us the importance of getting a good job and making a lot of money, because they never HAD good jobs or made a lot of money.  In fact, people who made a lot of money were assumed to be like the bosses they worked for - nasty, smug, the "evil rich" if you will. It's like they knew vaguely that going to college could make you better off, but that was it.  The lesson just never sunk in.  The only lesson I learned is "live for today" for tomorrow we may be unemployed, broke or dead.

 

I don't know about that.  My father grew up in Glenville (on ashbury)  and my mother right outside of San Juan.  My fathers family was middle class and My mothers family although, middle class, in PR, would have been considered poor here in the main land.

 

But both had a plan to do better.  I think it depends on the family and the situations.  I think most parents, like mine, want their kids to do better than them.

 

I want my nephews and Nieces to have better things (not that they are a necessity) and do better in life than me and my brother.

 

Although I hate my SIL's guts, I give her much respect in regards to education and bettering ones self.  She grew up in Garden Valley.  Her parents weren't on welfare or what one thinks of as stereotypically poor, but that is the best they could do for their 5 kids.  she said we didn't have much but we had each other and a lot of common sense.  She graduate at the top of her Class at East Tech and Graduated summa cum laude from Ohio State. 

 

She, like my father, always say it's not where you come from but where you're going.  And people are going to judge you by where you "come from" but you have to overlook that stay focused, press on and work hard and let your actions and accomplishments minimize their prejudices.