It's just money, right?

Discussion in 'The Okie Corral' started by KenBGlock19, Oct 16, 2010.

  1. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    I'm curious if others out there do the same thing that I have been doing lately.

    Last year, I was laid-off. I was lucky to have found a great job 5 months later and I'm financially stable now. I'm not rich by any means, however, and I'm not able to store a ton away (but I am able to store a little bit away each check).

    Getting laid-off really changed my perspective on spending and being prepared for the next time (hopefully there is never a next time, but you never know these days). I find myself trying to maintain the same monetary amount in my savings (or more, obviously) and I'm afraid of going below that number.

    Tonight, I made a major purchase that had me dip into my savings a little. I bought a new camera and to me, that's a major purchase. However, I feel a little anxious now that I spent that money. I don't feel remorse, but it's stepping outside of my comfort zone. It wasn't easy to do, but I know that I needed it and earned it.

    Does anyone else have this "issue"?

    I've been sitting on a little money for so long that I feel that I should have the attitude -- within reason -- that I cannot take it with me when I go. Everyone has to splurge sometimes, but this is my first splurge that dug into the savings since I got laid-off last year. Like I said, I have been employed for almost a year since then and all is well, but still.

    Just curious...
     
  2. nikerret

    nikerret Mr. Awesome

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    Sometimes, you have to do something for you. Saving is that, but so is getting something you want.
     

  3. hpracing007

    hpracing007

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    For me, I put a higher emphasis on cash flow than savings (and that's really saying something).

    If the money is rolling in, won't hurt to spend some of it.
     
    Last edited: Oct 16, 2010
  4. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    I used to be that way, too. In fact, I lived paycheck to paycheck and was quite cavalier on how I spent. I guess getting laid-off was a life changing event for me financially. That's why I'm so weird about it with this purchase. I feel like I just dug into my next meals if I got laid-off tomorrow, but I know that the company that I'm with is stable and I'm a pretty lucky dude.
     
  5. Mr. Gekko

    Mr. Gekko

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    I agree with the op and the second post, but I never dip into savings. I do not make many big purchases (firearms included) but when I do, I do question why I did it if it was not essential. However, sometimes you have to reward yourself for the hard work you do if you can afford it.

    Congrat's on the new gear and enjoy it.
     
  6. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    Thanks, bud.
     
  7. den888

    den888

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    Every once in a while, you have to "pick the fruits of your labor". Enjoy your savings once in a while...
     
  8. ExxoticOne

    ExxoticOne

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    I have several friends who are in very bad economic shape right now. This has definetely reframed the way I spend money.
     
  9. certifiedfunds

    certifiedfunds Cosmopolitan Bias

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    I think its healthier to set reasonable and realistic parameters on behavior than to be compulsive on either side.

    In other words, set certain parameters for savings, spending, etc, that meet your needs, and these parameters should include pleasurable things as well.

    If you feel you need $x in savings to feel secure, save until you reach that mark, then reward yourself with something you planned. After the reward is obtained, perhaps you decide to up the savings threshold for a while and plan your next reward.

    This way you can meet your needs for financial security AND enjoy yourself along the way.
     
  10. *ASH*

    *ASH* FURBANITE

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    my rule is with anything >>>>>>> if i cant buy it with cash outright I DONT NEED IT . that motto has worked for over 25 years. no debt ever, no credit cards. never been in trouble and th main thing i dont owe anybody **** .
     
  11. hpracing007

    hpracing007

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    That's a good idea.
     
  12. Harvick

    Harvick

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    At a minimum, you'd like to have 6 months of your net monthly income in hard cold cash. That's the "emergency fund". No debt.... ie., NO credit card balances. After paying the bills and funding your 401K, spend what the hell ya want on whatever you want. Financial discipline is where it's at. :cool:
     
  13. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    Living in CT, that just isn't possible. I wish it was, but CT is out of control expensive.
     
  14. geminicricket

    geminicricket NRA Life member

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    Don't blame CT. I live in TX, earn over 100K, and don't have much saved.

    "Saving" is a matter of personal habits, choices, and discipline.
     
  15. lanternlad

    lanternlad Mythmatician

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    I lived in CT for 24 years. I was born there, never thought it was expensive...

    Until I moved to Texas - Yikes! I couldn't BELIEVE how much cheaper things were here than in CT. After four years of saving I was able to buy my first house. Never could have done that in CT. My advice? Move to a cheaper state. :)
     
  16. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    Live in CT and you'll understand what I'm saying.
     
  17. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    Wish I could, but again, just not possible.
     
  18. Harvick

    Harvick

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    Did you just move there without knowing the cost of living?
     
  19. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    To put things into perspective...

    I live in a 1 bed, 1 loft, 1 bathroom apartment (898 sq ft) and I pay $1479/mo. Then I have $250 in utilities +/- $50 depending on the time of year.

    Then gas, food, child support ($650/mo for just child support), and non-planned items which I do not spend much on.

    And that's a cheap month for me.
     
  20. KenBGlock19

    KenBGlock19 SEMPER PARATUS

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    This was the best of 3 job offers that I had out of college and it was the best move career-wise as far as experience.