Very nice. I wish I had the discipline to do that. I put away a little each paycheck but not nearly as much as I should. Instead I spend that money on traveling around to see different shows. It's fun now but I'll probably regret it when I get older.
Not including your retirement savings such as IRA and 401k, as you cannot really use them in normal situations.
You can if it is really really bad situation I think, but you have to pay it back I believe in a certain time period (is it two years?)
That sounds like fun. Right now our expenses are roughly 62% of our monthly income, according my spreadsheet, and thats with an allotment for what I classify as Leisure expenses (dining out, movies, etc) Trying to just save a lot of the rest right now until we move out and get our own place in October.
Luis Conando Finley will not slow down the Finleys. He will have a job by age 2 and support himself entirely by age 5. As for myself, I have about 4 months worth of savings, living comfortably, 6 uncomfortably. about 2 years ago, I had about 6 months of savings ready to go should I ever get fired or decide to quit. Turns out it lasted 8 months
This is key. Avoid the movie theaters and especially the broadway type shows. You're just throwing away good money. Don't take expensive vacations and don't spend money on too much useless stuff. If you're married. Live off of one income. Bank the other. You'll need every last dime when you have a house and start a family.
What's the point of making money if you can't enjoy it? I know there has to be a balance of the two, but being that strict just seems a little much to me. To each his own though.
80% of salary in cash. But I don't spend as much as I make, so it probably comes out to a year in savings.
Before I got married, I had over 5 years savings in the bank! It's really sweet when your wife doesn't work. And by sweet, I mean not really sweet at all.
Very little in cash savings. But we have no debt and lots of access to credit. And we live inexpensively. (though we do travel lots and go out!). I don't see the point in keeping an inactive cash balance when I'd pay more on debt, and can (theoretically) earn more by investing.
We know from the time you spend on here that your entertainment expenses must be quite low. You need to write a book: "Saving Money the Moes Way." Simply invest in a decent computer and Internet connection, then watch that money accumulate.
This thread reminds me of when people get back from Vegas and you ask them how it went, they say, "Won a little" or "Broke even."
