How much did you make this year? and how much do you have right now?

Not enough imo, way more than enough.

 

maybe u need to spend less $ here

http://bbs.clutchfans.net/showthread.php?t=231031

 

I dont think this thread is a good idea. People love to judge other people on income. I remember someone coming into a thread about buying something and saying money was no object since they made $80k a year. It was not looked upon greatly at all.

 

I agree doesn't have many positives to it.

 

Every self made millionaire will tell you that it isn't how much you make that counts, it is how much you spend.

Warren Buffet drives a 40 year old car and buys suits off the rack at Sears as an example.

 

when money in is greater than money out you're doing something right, even if the amount is "small."

 

-37K, Student Loans B!tches!

 

What comes in goes out for me...

Did/does anyone save much when they're in grad school?

 

The IRS has infiltrated Clutchfans!!! RUN!!!!! Hide your money!

 

For many of us Dec 31 is the last pay day of 2012

 

Much more than I finished 2011 with.

 

Hard to judge what i actually have left out of this years salary, savings account has gone up, investments have increased etc.

 

Our take home as a family is about 80K. I've got about $3500 in a savings account because I'm saving for a car. My savings is that low only because I'm paying about $1200 a month (almost as much as our mortgage) to pay off my wifes student loans. We owe about $17,000 and it is our only debt beside the house. Next year when my youngest goes to Kindergarten, we'll have about $400 more each month to help. We should be debt free by next Christmas, and I'll immediately begin putting about $1500 a month into our money-market savings account. When I get about $18,000 in the account I'll start maxing out both of our 403B's and immediately begin putting about $170 a month into two 529's for our kids college fund. Keep in mind we both drive cars with NO payments..and I'll buy a used car this summer for about $7,000 in cash. We don't use credit cards, and keep cash for emergencies. We funded Christmas by taking $25 out of each of my bi-weekly paychecks and $50 out of my wifes monthly paycheck for a total of $1200 for Christmas.

My point is that although we lack a lot right now, in 2 years we'll be very strong financially with no debt and a decent savings for emergencies. Financial planning is essential to life. My suggestion is if you do not have a written budget..do so today. Plan your next months expenses on an excel sheet and keep track of where every dollar you spend goes. do this for about 3 months and see how it affects your spending. The majority of people who try this say that they feel like they got a pay raise after the first couple of months.

 

Here's a great budget sheet that you can use. Its easy and quick to figure out. Use a pencil to fill it out because you'll find that you'll have to go back and adjust the numbers the first few months you use it.

http://www.daveramsey.com/media/pdf/forms/allocated_spending_plan_form.pdf

 

WHO IS YOUR DADDY, AND WHAT DOES HE DO?

 

This isn't the Mavericks forum.

 

Sam Walton drove an old pickup truck. Cars are the largest purchase you'll make that will ALWAYS go DOWN in value. It makes good financial sense to NOT spend a lot on a car, and to buy a 2-3 year old car instead of a new car.

I drive a '98 Saturn SL2 and get great gas mileage. The car is 14yrs old with 184,000 miles on it..but I haven't put hardly any money in it for repairs. The average car payment is between $400-$500 a month. Thats $6,000 a year. If you pay cash for a $6,000 car and drive it for 3 years then sell it for $4,000 (private seller..not trade in)... and spend another $2,000 to replace it (giving you another $6,000 car). You've saved $12,000 and essentially have another $6,000 car for only $2,000. Even if you buy a lemon and have repairs..its unlikely you'll spend $6,000 in repairs over the course of 3 years much less one year.

 

I made $247 this year. I have $3.79 million in the bank.

 

As long we are debt free, then that's all it matters. (besides our mortgage, of course)