Finances

respectyoda · 07-20-2012, 11:16 PM

As you all know, the global economy is not doing well these days as there have been multiple recessions in many countries.

The key here to be smart with your finances is to live below your means. Don't splurge on things you want and instead, manage your finances to make sure you get what you need. Another tip would be to cook at home instead of going out to eat frequently. There are many good cookbooks that have recipes that use at most 5 ingredients.

More financial tips to come.

deafdrummer · 07-21-2012, 06:23 PM

Keepin' an eye on this one...

respectyoda · 07-22-2012, 09:52 PM

Here's my financial tip for today:

How much should you save each month? Aim for 10% of your pay.

Make sure the amount of money you save is put somewhere you will not be tempted to touch it.

Jess · 07-22-2012, 10:37 PM

Most of us are aware of stretching our resources, it just depends on the return of currency circulation. Remember the same amount (pre-inflation printing) of currency exists during both good and bad times, it generally depends on how much of the currency is in circulation. Thanks to numerous bad loans, the reserves (banks, foreign stash, corporate capital, etc.) are "frozen" in place until corrections are forced to be made (we can't tell people to invest wisely, so a recession forces a slowdown in bad spending activity). And this is just the tip of the iceberg!

Mimsy · 07-23-2012, 10:54 PM

My problem is that I don;t know how to save. My parents taught us and my brothers are doing well, but for me, money has to be spend. That's why I don't have a pot to piss in of my very own. I need an attitude adjustment.

respectyoda · 07-24-2012, 12:49 AM

Quote:

Originally Posted by Mimsy

My problem is that I don;t know how to save. My parents taught us and my brothers are doing well, but for me, money has to be spend. That's why I don't have a pot to piss in of my very own. I need an attitude adjustment.

Yes, you do need an attitude adjustment.

Money doesn't always have to be spent. It is good to save money up, especially when you want to save up for a car or a house or simply a road trip.

deafdrummer · 07-25-2012, 11:35 AM

The problem IS, some people are caught in a situation where the amount of money they make doesn't even begin to cover basics, like rent, gas, food, etc. Their line of work just won't pay it. I was in that situation in the 90s and had to work two jobs to make it happen.

But today, I'm on SSDI and working part-time. I'm building up savings and capital for personal needs, and I do it hand-over-fist while running a VERY TIGHT ship on expenses. For instance, if I find a quarter on the ground, I get home later that day and add 25 cents to the total income field in my spreadsheet. If I lose a dime into the street gutter, I do the subtraction that day. I also live under my means.

I know it sounds like OC, BUT the gift to myself is being able to decide, "Okay, how much do I have at the end of the month? Now, I can take this and either put it into savings or pay down capital investments and have this much for food until the next check comes it." AND not fail or underestimate how much I need to reach my goal for the month. This kind of monitoring is powerful, because it allows you to chart the paths you want to take rather than stay in a financial fog where "I'll pay this off someday" or "I might be able to get that in about 3 or 4 months." You know concretely where you are headed, as you see where the money is going exactly and when. At all times.

And it's also important to understand where to put your money at. Who here knows where to put it in 2012, where you have to deal with a rapidly devaluing dollar and scandals are breaking out everywhere in the financial sector?

soutthpaw · 07-25-2012, 11:41 AM

Quote:

Originally Posted by Mimsy

My problem is that I don;t know how to save. My parents taught us and my brothers are doing well, but for me, money has to be spend. That's why I don't have a pot to piss in of my very own. I need an attitude adjustment.

Just send it all to me and I will save it for you

caz12 · 07-25-2012, 02:01 PM

if my husband pass the bookie as he pass wind i be far richer woman

respectyoda · 08-07-2012, 06:43 PM

Do you have too many impulse buys when you shop? Limit your shopping to one day a week. The less time you spend in stores, the less chance you'll have to pick up something on impulse. Don't pay attention to advertisements because they will only make you want draw out your wallet. Contemplate on whether you really need a certain product or not.

authentic · 08-07-2012, 07:56 PM

The economy are screwed up due to too many people like you who like to keep money in your wallet.

Saving 10% from paycheck is nice idea, but why save money if you knew the life is too short to stay home?

respectyoda · 08-07-2012, 07:59 PM

Quote:

Originally Posted by authentic

The economy are screwed up due to too many people like you who like to keep money in your wallet.

Saving 10% from paycheck is nice idea, but why save money if you knew the life is too short to stay home?

There is nothing wrong with keeping money in one's wallet or bank. The economy is not screwed up by people keeping money in their wallet or bank. The economy is screwed up because the government keeps spending and spending and the citizens keep spending as well!

It is good to save money because there are things that one cannot afford with just one paycheck. For instance, a car or a house! Saving up money can be beneficial because it can be used for a much needed airplane or roadtrip to see a loved one.

**Foxrac** · 08-08-2012, 11:48 AM

Quote:

Originally Posted by respectyoda

There is nothing wrong with keeping money in one's wallet or bank. The economy is not screwed up by people keeping money in their wallet or bank. The economy is screwed up because the government keeps spending and spending and the citizens keep spending as well!

It is good to save money because there are things that one cannot afford with just one paycheck. For instance, a car or a house! Saving up money can be beneficial because it can be used for a much needed airplane or roadtrip to see a loved one.

and bank, credit card companies, mortgage companies, AIG, Wall Street and government deregulation caused our economy to crash.

**Jiro** · 08-08-2012, 11:54 AM

Quote:

Originally Posted by Mimsy

My problem is that I don;t know how to save. My parents taught us and my brothers are doing well, but for me, money has to be spend. That's why I don't have a pot to piss in of my very own. I need an attitude adjustment.

that's ok. you don't know how to save because you don't have income and expense to pay. but once you do have bills to pay.... you will remember what your parents taught you and you'll thank them later

**Jiro** · 08-08-2012, 11:57 AM

Quote:

Originally Posted by respectyoda

There is nothing wrong with keeping money in one's wallet or bank. The economy is not screwed up by people keeping money in their wallet or bank. The economy is screwed up because the government keeps spending and spending and the citizens keep spending as well!

It is good to save money because there are things that one cannot afford with just one paycheck. For instance, a car or a house! Saving up money can be beneficial because it can be used for a much needed airplane or roadtrip to see a loved one.

not really. it's because we loaned out too much to the point where it cannot be repaid for. that's why government bailed them out.

VacationGuy234 · 08-08-2012, 12:26 PM

Get rid of cable and use an antenna for TV reception. The new stations are all in HD and the signal is better than it was so you don't need cable.

However, if you must get cable, don't pay the cable company to rent a router, modem or set top box(if you are not getting premium channels). You can buy your own and it pays for itself in about half a year, otherwise, you'll pay hundreds more to the cable company. This is the least you can do.

I saved about $800 a year by ditching cable and buying an antenna. I just pay for internet now. And, I don't rent their equipment.

**Jiro** · 08-08-2012, 12:36 PM

Quote:

Originally Posted by VacationGuy234

Get rid of cable and use an antenna for TV reception. The new stations are all in HD and the signal is better than it was so you don't need cable.

However, if you must get cable, don't pay the cable company to rent a router, modem or set top box(if you are not getting premium channels). You can buy your own and it pays for itself in about half a year, otherwise, you'll pay hundreds more to the cable company. This is the least you can do.

I saved about $800 a year by ditching cable and buying an antenna. I just pay for internet now. And, I don't rent their equipment.

same here. in my apt, I only had internet. just $20 a month. easy.

**Jiro** · 08-08-2012, 12:37 PM

Quote:

Originally Posted by respectyoda

As you all know, the global economy is not doing well these days as there have been multiple recessions in many countries.

The key here to be smart with your finances is to live below your means. Don't splurge on things you want and instead, manage your finances to make sure you get what you need. Another tip would be to cook at home instead of going out to eat frequently. There are many good cookbooks that have recipes that use at most 5 ingredients.

More financial tips to come.

curious - what's your brief background?

**Jiro** · 08-08-2012, 12:39 PM

for college students - if you have smartphone like iPhone or Android.... you must be in pain because of $$$$ monthly bills. ditch the plan (assuming that you're not locked in 2-years contract). colleges have wifi all over so all you need is emails + google voice and you're good to go. saves you at least $40-100 a month.

**Foxrac** · 08-09-2012, 12:42 AM

Quote:

Originally Posted by Jiro

for college students - if you have smartphone like iPhone or Android.... you must be in pain because of $$$$ monthly bills. ditch the plan (assuming that you're not locked in 2-years contract). colleges have wifi all over so all you need is emails + google voice and you're good to go. saves you at least $40-100 a month.

I'm commuter student and I must have smartphone with cellular data to make communicate with my family, and emergencies too.

In DC, I need smartphone with cellular data to reply on navigation to find a correct routes. I got lost in NoVA when I went on wrong bus and had use phone to get back on right way with lengthly walk due to Sunday that where bus stop is about every 1 hours.

I dropped text plan to save $20 because text plan is unnecessary for me.

**Foxrac** · 08-09-2012, 12:44 AM

Quote:

Originally Posted by Jiro

same here. in my apt, I only had internet. just $20 a month. easy.

Wow, mine is $40 for slow DSL because Windstream is only one ISP that serve our neighborhood.

respectyoda · 08-09-2012, 12:58 AM

Quote:

Originally Posted by VacationGuy234

Get rid of cable and use an antenna for TV reception. The new stations are all in HD and the signal is better than it was so you don't need cable.

However, if you must get cable, don't pay the cable company to rent a router, modem or set top box(if you are not getting premium channels). You can buy your own and it pays for itself in about half a year, otherwise, you'll pay hundreds more to the cable company. This is the least you can do.

I saved about $800 a year by ditching cable and buying an antenna. I just pay for internet now. And, I don't rent their equipment.

Wise choice! Cable and Satellite dish companies charge customers so much to use their services. It'd be cheaper to just go over to someone else's house or use an antenna or even going to a restaurant and watch stuff on their crystal clear huge LCD (or plasma) TVs.

Quote:

Originally Posted by Jiro

curious - what's your brief background?

Are you asking my background in finances or? Be specific please, Jiro.

Quote:

Originally Posted by Jiro

for college students - if you have smartphone like iPhone or Android.... you must be in pain because of $$$$ monthly bills. ditch the plan (assuming that you're not locked in 2-years contract). colleges have wifi all over so all you need is emails + google voice and you're good to go. saves you at least $40-100 a month.

I have an iPhone and I am not complaining about my monthly bill because it is only $45. This is because I use a data only plan!

Actually, when people are locked in for a 2 year contract, they get the plan for a lower cost as opposed to being locked in for a 1 year contract.

**Foxrac** · 08-09-2012, 01:03 AM

Quote:

Originally Posted by VacationGuy234

Get rid of cable and use an antenna for TV reception. The new stations are all in HD and the signal is better than it was so you don't need cable.

However, if you must get cable, don't pay the cable company to rent a router, modem or set top box(if you are not getting premium channels). You can buy your own and it pays for itself in about half a year, otherwise, you'll pay hundreds more to the cable company. This is the least you can do.

I saved about $800 a year by ditching cable and buying an antenna. I just pay for internet now. And, I don't rent their equipment.

The antenna service is very terrible in our area and I hate local channels in my state, especially PBS isn't good as like one in NYC or LA.

I'm sticking with satellite TV as only option but I'm not charge to pay, though.

**Jiro** · 08-09-2012, 01:04 AM

Quote:

Originally Posted by respectyoda

Are you asking my background in finances or? Be specific please, Jiro.

anything.

respectyoda · 08-09-2012, 01:17 AM

Quote:

Originally Posted by Foxrac

The antenna service is very terrible in our area and I hate local channels in my state, especially PBS isn't good as like one in NYC or LA.

I'm sticking with satellite TV as only option but I'm not charge to pay, though.

I see. Well, a lot of companies are moving towards putting the TV on the Internet. Yahoo has taken that step as they show live videos from TV feeds on the Internet. They did this recently with the show premiere of The Hunger Games.

Quote:

Originally Posted by Jiro

anything.

ANYTHING?! What I'd have to mention would exceed the number of allowable words in a comment. Ha.

Steinhauer · 08-09-2012, 01:35 AM

He is a little green dude with a lightsaber and is 900 years old. A brief background would consist of half the threads posted in AD - save the bandwidth and use the force

respectyoda · 08-09-2012, 01:37 AM

Quote:

Originally Posted by Steinhauer

He is a little green dude with a lightsaber and is 900 years old. A brief background would consist of half the threads posted in AD - save the bandwidth and use the force

LOL! Exactly! There you go, Jiro!

Steinhauer · 08-09-2012, 01:44 AM

**Foxrac** · 08-09-2012, 01:46 AM

Quote:

Originally Posted by respectyoda

I see. Well, a lot of companies are moving towards putting the TV on the Internet. Yahoo has taken that step as they show live videos from TV feeds on the Internet. They did this recently with the show premiere of The Hunger Games.

Yup, it called IPTV.

Unfortunately, our DSL doesn't meet requirement to watch IPTV and we are dead end for internet upgrade, unless I move to somewhere.

Majority of rural communities have no broadband access so that why satellite TV is necessary for them.

respectyoda · 08-09-2012, 10:39 PM

Quote:

Originally Posted by Foxrac

Yup, it called IPTV.

Unfortunately, our DSL doesn't meet requirement to watch IPTV and we are dead end for internet upgrade, unless I move to somewhere.

Majority of rural communities have no broadband access so that why satellite TV is necessary for them.

Move closer to society, Foxrac! It is better to have humans as friends instead of animals. Haha.

07-20-2012, 11:16 PM	#1 (permalink)
respectyoda Registered User Join Date: Sep 2004 Posts: 451	Finances As you all know, the global economy is not doing well these days as there have been multiple recessions in many countries. The key here to be smart with your finances is to live below your means. Don't splurge on things you want and instead, manage your finances to make sure you get what you need. Another tip would be to cook at home instead of going out to eat frequently. There are many good cookbooks that have recipes that use at most 5 ingredients. More financial tips to come. __________________ "Do or do not. There is no try" ~ The Legendary Jedi Master Yoda

07-21-2012, 06:23 PM	#2 (permalink)
deafdrummer Registered User Join Date: May 2009 Location: Preparing to evacuate from Houston, TX Posts: 1,010	Keepin' an eye on this one... Mimsy likes this.

07-22-2012, 09:52 PM	#3 (permalink)
respectyoda Registered User Join Date: Sep 2004 Posts: 451	Here's my financial tip for today: How much should you save each month? Aim for 10% of your pay. Make sure the amount of money you save is put somewhere you will not be tempted to touch it. __________________ "Do or do not. There is no try" ~ The Legendary Jedi Master Yoda

07-22-2012, 10:37 PM	#4 (permalink)
Jess Registered User Join Date: Jun 2008 Location: Tampa, Florida Posts: 683 Blog Entries: 1	Most of us are aware of stretching our resources, it just depends on the return of currency circulation. Remember the same amount (pre-inflation printing) of currency exists during both good and bad times, it generally depends on how much of the currency is in circulation. Thanks to numerous bad loans, the reserves (banks, foreign stash, corporate capital, etc.) are "frozen" in place until corrections are forced to be made (we can't tell people to invest wisely, so a recession forces a slowdown in bad spending activity). And this is just the tip of the iceberg! __________________ Official AD Nutcracker Last edited by Jess; 07-23-2012 at 12:36 AM.

07-25-2012, 02:01 PM	#9 (permalink)
caz12 Registered User Join Date: Jun 2011 Posts: 2,807	if my husband pass the bookie as he pass wind i be far richer woman rockin'robin likes this.

Today
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07-23-2012, 10:54 PM	#5 (permalink)
Mimsy Registered User Join Date: May 2012 Posts: 655	My problem is that I don;t know how to save. My parents taught us and my brothers are doing well, but for me, money has to be spend. That's why I don't have a pot to piss in of my very own. I need an attitude adjustment.

07-25-2012, 11:35 AM	#7 (permalink)
deafdrummer Registered User Join Date: May 2009 Location: Preparing to evacuate from Houston, TX Posts: 1,010	The problem IS, some people are caught in a situation where the amount of money they make doesn't even begin to cover basics, like rent, gas, food, etc. Their line of work just won't pay it. I was in that situation in the 90s and had to work two jobs to make it happen. But today, I'm on SSDI and working part-time. I'm building up savings and capital for personal needs, and I do it hand-over-fist while running a VERY TIGHT ship on expenses. For instance, if I find a quarter on the ground, I get home later that day and add 25 cents to the total income field in my spreadsheet. If I lose a dime into the street gutter, I do the subtraction that day. I also live under my means. I know it sounds like OC, BUT the gift to myself is being able to decide, "Okay, how much do I have at the end of the month? Now, I can take this and either put it into savings or pay down capital investments and have this much for food until the next check comes it." AND not fail or underestimate how much I need to reach my goal for the month. This kind of monitoring is powerful, because it allows you to chart the paths you want to take rather than stay in a financial fog where "I'll pay this off someday" or "I might be able to get that in about 3 or 4 months." You know concretely where you are headed, as you see where the money is going exactly and when. At all times. And it's also important to understand where to put your money at. Who here knows where to put it in 2012, where you have to deal with a rapidly devaluing dollar and scandals are breaking out everywhere in the financial sector?

08-07-2012, 06:43 PM	#10 (permalink)
respectyoda Registered User Join Date: Sep 2004 Posts: 451	Do you have too many impulse buys when you shop? Limit your shopping to one day a week. The less time you spend in stores, the less chance you'll have to pick up something on impulse. Don't pay attention to advertisements because they will only make you want draw out your wallet. Contemplate on whether you really need a certain product or not. __________________ "Do or do not. There is no try" ~ The Legendary Jedi Master Yoda

08-07-2012, 07:56 PM	#11 (permalink)
authentic Registered User Join Date: Jun 2005 Location: San Francisco Posts: 6,093	The economy are screwed up due to too many people like you who like to keep money in your wallet. Saving 10% from paycheck is nice idea, but why save money if you knew the life is too short to stay home? __________________

08-08-2012, 12:26 PM	#16 (permalink)
VacationGuy234 Registered User Join Date: Aug 2011 Location: Massachusetts Posts: 2,773	Get rid of cable and use an antenna for TV reception. The new stations are all in HD and the signal is better than it was so you don't need cable. However, if you must get cable, don't pay the cable company to rent a router, modem or set top box(if you are not getting premium channels). You can buy your own and it pays for itself in about half a year, otherwise, you'll pay hundreds more to the cable company. This is the least you can do. I saved about $800 a year by ditching cable and buying an antenna. I just pay for internet now. And, I don't rent their equipment. __________________

08-08-2012, 12:39 PM	#19 (permalink)
Jiro Aparecium Deletrius Legil Join Date: Apr 2007 Location: The Soprano State Posts: 60,428	for college students - if you have smartphone like iPhone or Android.... you must be in pain because of $$$$ monthly bills. ditch the plan (assuming that you're not locked in 2-years contract). colleges have wifi all over so all you need is emails + google voice and you're good to go. saves you at least $40-100 a month. __________________ - Don't forget to buy Jiro's Special Edition Sunglasses for $19.95

08-09-2012, 01:35 AM	#26 (permalink)
Steinhauer Banned Join Date: Aug 2009 Posts: 8,191 Blog Entries: 1	He is a little green dude with a lightsaber and is 900 years old. A brief background would consist of half the threads posted in AD - save the bandwidth and use the force respectyoda likes this.

08-09-2012, 01:44 AM	#28 (permalink)
Steinhauer Banned Join Date: Aug 2009 Posts: 8,191 Blog Entries: 1	respectyoda likes this.

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