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Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:08 am
by Johnny_P
Melon wrote: ↑Wed Feb 28, 2018 7:37 am
troyguitar wrote: ↑Tue Feb 27, 2018 10:29 pm
Fuck travel. Fuck restaurants. Fuck new cars. That's for rich people.
New cars, I'm with you there.
But, travel adds a flavor to life that's necessary, and the occasional restaurant is no harm.
I think as long as you save for it, then do what you want. If you want to go on a Euro trip and saved $3k to make it happen, well then you can afford it. If you're planning on using your CC to pay it and then just make payments on the balance, that's how you get into serious debt.
If a new car is your thing, throw it into the budget and make sure you can actually pay for it. And see how you'd need to adjust your savings, or other expenses to account for it. And weigh if the shiny new car is worth giving up hot yoga classes so you can pay for it.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:49 am
by dubshow
maxing tax shelters while carrying debt around is very
its like dividing by zero. Unless you're debt rates are sub 5% or something stupid low, you should really focus on that before maxing retirement. Once debt is gone, by all means max that retirement/shelter. Once those avenues are exhausted for tax shelter, work on your bank roll.
I dont really make enough to max each one of mine (401k,ira,hsa) out, so I focus on cash on hand thresholds. Thats also where the budget or cash flow becomes critical. balance of the yolo/savings/retirement. Once I have about 1 to 1.5 years cash reserve on hand I'll turn focus to maxing shelters.
yes my first reply was a bit off cuff and jokingly so. I do remember your very specific part about leaving money on table in pursuit of time and happiness.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:51 am
by dubshow
[user not found] wrote: ↑Wed Feb 28, 2018 7:39 am
I budget very strictly but realistically. Fun is a must to include in a budget because if you don't, then you blow your budget out when you spend a little money on fun. But I'm very strict to my budget and re-assess every few months.
cant make good progress with a weak path to a goal.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:53 am
by dubshow
Melon wrote: ↑Wed Feb 28, 2018 6:41 am
dubshow wrote: ↑Tue Feb 27, 2018 10:21 pm
just got my first "real" credit card. $15k in 30 seconds. That was scary.
opted for the chase sapphire to rack up point for the euro trip.
Sapphire preferred ?
yup. it came down to more intro points than capital one venture. I also already had a chase account so one less login to remember.
ill get like 60k point after 4k in 3 months. One thing im
on is the annual fee. Some places said it $0 for year 1. I couldnt find anything specifically with chase waiving it currently. I think they gave an extra 5k point to cover it.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:55 am
by dubshow
[user not found] wrote: ↑Wed Feb 28, 2018 8:53 am
dubshow wrote: ↑Wed Feb 28, 2018 8:49 am
maxing tax shelters while carrying debt around is very
its like dividing by zero. Unless you're debt rates are sub 5% or something stupid low, you should really focus on that before maxing retirement. Once debt is gone, by all means max that retirement/shelter. Once those avenues are exhausted for tax shelter, work on your bank roll.
I dont really make enough to max each one of mine (401k,ira,hsa) out, so I focus on cash on hand thresholds. Thats also where the budget or cash flow becomes critical. balance of the yolo/savings/retirement. Once I have about 1 to 1.5 years cash reserve on hand I'll turn focus to maxing shelters.
yes my first reply was a bit off cuff and jokingly so. I do remember your very specific part about leaving money on table in pursuit of time and happiness.
I agree largely with one caveat: put enough in to get your 401k match.
big difference in MAX ($18,500) and MATCH. typical for full match is you put 6% they put 3% at 6%. Anything past the %6 min is shelter fluff extra. Especially if you carry debt.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:56 am
by Melon
dubshow wrote: ↑Wed Feb 28, 2018 8:53 am
Melon wrote: ↑Wed Feb 28, 2018 6:41 am
Sapphire preferred ?
yup. it came down to more intro points than capital one venture. I also already had a chase account so one less login to remember.
ill get like 60k point after 4k in 3 months. One thing im
on is the annual fee. Some places said it $0 for year 1. I couldnt find anything specifically with chase waiving it currently. I think they gave an extra 5k point to cover it.
Nice! Sapphire is better if you travel a lot, Freedom is better for daily use points.
Still, $600.00 in points for buying your airfare.
at all.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 8:57 am
by goIftdibrad
stripethree wrote: ↑Tue Feb 27, 2018 7:19 pm
need not apply. Or maybe they do? How do the rich stay rich: they are stingy bastards.
Looking for what fellow DFD peeps do to keep a budget. Not make a budget, making a budget is the easy part. Sticking to it is the part I suck at.
its been a struggle but we are in a good place now.
My biggest pro tip: pay bills first, then debt plan, then the leftover is yours. Even when paying debt its important to have an 'allowance' Also its been said: DON'T CARRY CC BALANCE. If you can't do this cancel the bitch when paid off....the rewards aint worth it if you pay more in interest.
2nd tip: once you identify your problem area set a budget and TAKE OUT CASH AND USE THAT. once you adjust you can go back to card for DEM GAINZ but the cash helps you set limits.... or realize that a 70+ dollar dinner out is more about discresionary spending than it is feeding yourself.
3rd: have a good budget spreadsheet.
mine sets up a 'monthly expenses on CC for dem GAINS' and an "annual bigs" fund i pay into 24 times a year to cover big annual expenses. It tracks in vs out on a cashflow graph so you can make sure the slope of said graph is postive. I can send it to you if you'd like.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:00 am
by Melon
Big Brain Bradley wrote: ↑Wed Feb 28, 2018 8:57 am
2nd tip: once you identify your problem area set a budget and TAKE OUT CASE AND USE THAT. once you adjust you can go back to card for DEM GAINZ but the cash helps you set limits.... or realize that a 70+ dollar dinner out is more about discresionary spending than it is feeding yourself.
You've mentioned it before, and I've always thought that's a solid plan.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:03 am
by dubshow
Big Brain Bradley wrote: ↑Wed Feb 28, 2018 8:57 am
stripethree wrote: ↑Tue Feb 27, 2018 7:19 pm
need not apply. Or maybe they do? How do the rich stay rich: they are stingy bastards.
Looking for what fellow DFD peeps do to keep a budget. Not make a budget, making a budget is the easy part. Sticking to it is the part I suck at.
It tracks in vs out on a cashflow graph so you can make sure the slope of said graph is postive. I can send it to you if you'd like.
graphs and shit.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:15 am
by ChrisoftheNorth
I don't budget. But I'm a frugal person by nature. All CC's on auto pay for full balance each month. 15% into 401k. A cash slush fund that can cover 8 mos of living expenses in case of
and I just
the rest.
House, utilities, car, and insurance expenses are pretty constant. I never buy lunch at work, always bring. We limit our eating/going out to twice a week because
reduction. Big purchases (over $500) are planned in advance and allocated for in future checks. Small purchases are whatever as we need.
Probably doing it wrong. Whatever. I enjoy life.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:20 am
by stripethree
Ok so let's ignore the savings for now. While I agree with the points made, it's not exactly the question I was asking. Again, I mentioned this is cyclic, if I changed my 401k elections whenever I got say, $2k on a CC, then back, that's silly. Even when the debt gets higher, changing it, waiting a pay period or two for it to take effect, etc. it's tedious at best. It doesn't solve the problem, which is running up the CC in the first place. Clearly I know how to pay shit down, but that's addressing the symptom not the cause. My financial situation is pretty damn good, I'm trying to break bad habits to keep it that way.
I think the prepaid self imposed limits are the way to go.
I might take the time to go through 4 years of Amazon purchases and see how much was wasted. Yes, you can download that data.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:22 am
by stripethree
Detroit wrote: ↑Wed Feb 28, 2018 9:15 am
Probably doing it wrong. Whatever. I enjoy life.
Nah, you just seem to have self control and discipline about it. That seems like doing it right.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:41 am
by dubshow
[user not found] wrote: ↑Wed Feb 28, 2018 9:28 am
Melon wrote: ↑Wed Feb 28, 2018 6:40 am
Wut
We encouraged
to blow epic amounts of money on investments, I guess.
I blow all my money by my own free will.
4 lyfe
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:43 am
by dubshow
also read the same article about how the ads and shit in social media are forcing millennials to drop coin they aint got for shit they aint need.
This is actually an age old problem and just a new face with social media: Keeping up with da Jones'
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:45 am
by Melon
[user not found] wrote: ↑Wed Feb 28, 2018 9:28 am
Melon wrote: ↑Wed Feb 28, 2018 6:40 am
Wut
We encouraged
to blow epic amounts of money on investments, I guess.
I just don't see how we actually encourage bad spending.
Some of us are more than other, but we're a bunch of cheap fucks.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:46 am
by goIftdibrad
dubshow wrote: ↑Wed Feb 28, 2018 9:43 am
also read the same article about how the ads and shit in social media are forcing millennials to drop coin they aint got for shit they aint need.
This is actually an age old problem and just a new face with social media: Keeping up with da Jones'
yep.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:47 am
by Melon
stripethree wrote: ↑Wed Feb 28, 2018 9:20 am
Ok so let's ignore the savings for now. While I agree with the points made, it's not exactly the question I was asking. Again, I mentioned this is cyclic, if I changed my 401k elections whenever I got say, $2k on a CC, then back, that's silly. Even when the debt gets higher, changing it, waiting a pay period or two for it to take effect, etc. it's tedious at best. It doesn't solve the problem, which is running up the CC in the first place. Clearly I know how to pay shit down, but that's addressing the symptom not the cause. My financial situation is pretty damn good, I'm trying to break bad habits to keep it that way.
I think the prepaid self imposed limits are the way to go.
I might take the time to go through 4 years of Amazon purchases and see how much was wasted. Yes, you can download that data.
It's also a trick to find out which system works for you, as an individual.
I get cash, I spend it, so I never carry it, problem solved. For others, that's a solid idea.
I mentioned checking my account daily, that way I come face to face with the decisions of my past self, and I hate feeling regret, so it forces me to reconsider.
For you that would be obsessive.
Point is, keep trying different methods until you find one that works.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:48 am
by dubshow
Melon wrote: ↑Wed Feb 28, 2018 9:45 am
[user not found] wrote: ↑Wed Feb 28, 2018 9:28 am
We encouraged
to blow epic amounts of money on investments, I guess.
I just don't see how we actually encourage bad spending.
Some of us are more than other, but we're a bunch of cheap fucks.
who drop a solid amount of coin for other "hobby areas" in contrast to the general populus.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:50 am
by Melon
dubshow wrote: ↑Wed Feb 28, 2018 9:48 am
Melon wrote: ↑Wed Feb 28, 2018 9:45 am
I just don't see how we actually encourage bad spending.
Some of us are more than other, but we're a bunch of cheap fucks.
who drop a solid amount of coin for other "hobby areas" in contrast to the general populus.
Sure, cars are an expensive mistress, but we're all aware of our credit, our 401k accounts, we all know how credit works, and that savings are important.
We can
on toys, because we have the basics down.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:54 am
by stripethree
Melon wrote: ↑Wed Feb 28, 2018 9:47 am
Point is, keep trying different methods until you find one that works.
. Such wisdom. Much zen. That's what I'm after and wanted to see what others do so I could something different.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:55 am
by stripethree
dubshow wrote: ↑Wed Feb 28, 2018 9:48 am
who drop a solid amount of coin for other "hobby areas" in contrast to the general populus.
... :looks at "dumb shit I bought today" thread...:
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:57 am
by dubshow
stripethree wrote: ↑Wed Feb 28, 2018 9:55 am
dubshow wrote: ↑Wed Feb 28, 2018 9:48 am
who drop a solid amount of coin for other "hobby areas" in contrast to the general populus.
... :looks at "dumb shit I bought today" thread...:
just checked shipping on all my bullshit of buying from the weekend.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 9:57 am
by KYGTIGuy
Desertbreh wrote: ↑Tue Feb 27, 2018 7:39 pm
stripethree wrote: ↑Tue Feb 27, 2018 7:29 pm
This is a problem when you have a CC number memorized. I should report that card lost or something.
Why is it memorized? Last job was mobile payments. I had to input that card into our app so many times for testing, etc. that it just stuck.
$3k outstanding.
So not much. Easy to rub out, yes?
Ideas:
1. First step is get rid of CC debt and tell yourself you're never fucking going back. Not ever.
2. Use American Express (The charge card kind, not the credit card kind). It demands payment in full at the end of every month. You won't pull trigger on those sweet ramz bro if you know you really can't pay for them.
3. Go the other way and build a 3K account for fun shit, to pay with said American Express. You will be more stingy when you're using your money, not OPM (even though that's a myth because the CC companies are taking you for MAFIA interest rates, that is really your money.)
4. You're single.
All it takes is a little time and you'll be able to be totally on track
5. Instead of buying shit, just figure out how long it will take to swing the -3K to +3K on such and such a budget, then do it. Don't go out to restaurants and bars, etc., until mission accomplished. Then set another goal.
We are debating going Amex platinum. 500 a year doe. Currently just preferred cash card but we like it.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 10:10 am
by ChrisoftheNorth
I don't understand paying for CC's. I use two credit cards...a Fidelity Cash management CC that pays unlimited 2% into my account each month, and the Costco CC that pays 4% on gas, 3% travel/restaurants, 2% at costco and 1% on everything else.
I end up making good money in rewards at the end of the year. I've yet to find a card that's worth paying for.
Do you even budget bruh?
Posted: Wed Feb 28, 2018 10:14 am
by stripethree
Detroit wrote: ↑Wed Feb 28, 2018 10:10 am
I don't understand paying for CC's.
I pay I think $85 for my United Chase MC per year. In addition to the miles on purchases, I get 2 free United Club passes a year, don't pay for first checked bag, and always get group 2 boarding. I travel enough that it is
well worth it.