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How I live and how I work

alexwarren.co.uk

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Re: How I live and how I work

#21

Post by jlangenauer »

dirktheman wrote: post #20

I found that most people I know spend their money according to their paycheck. If you don't save money as soon as your paycheck comes in, it'll be gone by the end of the month. No matter hwo much you make. However, when you've come to the point of finding someone you love and want to spend the rest of your life with, living the frugal student life isn't going to cut it. You'll want to move to a bigger place, have kid…

I go one better than this: I have my monthly salary paid directly into my savings account, then I "pay" myself weekly into a current account the amount of money I actually live off. Your savings can accrue surprisingly fast like this.

Re: How I live and how I work

#22

Post by dirktheman »

jlangenauer wrote: post #21
dirktheman wrote: post #20

I found that most people I know spend their money according to their paycheck. If you don't save money as soon as your paycheck comes in, it'll be gone by the end of the month. No matter hwo much you make. However, when you've come to the point of finding someone you love and want to spend the rest of your life with, living the frugal student life isn't going to cut it. You'll want to move to a bigger place, have kid…

I go one better than this: I have my monthly salary paid directly into my savings account, then I "pay" myself weekly into a current account the amount of money I actually live off. Your savings can accrue surprisingly fast like this.

Nice! How does that work, though? Do you set budgets for things like food, rent/mortgage, insurances? How do you avoid overspending?

Re: How I live and how I work

#23

Post by wellboy »

dagw wrote: post #19

"You can enjoy your life right now. You just need to spend less money on shit that you don’t need." But it's the shit I don't need that ads to the enjoyment of my life.

In the short run, but for every dollar you spend, you give a bit more of your own freedom away.

Re: How I live and how I work

#24

Post by dirktheman »

icebraining wrote: post #14
shawabawa3 wrote: post #4

> When I started working, I didn’t start spending. I'm exactly the same. I see so many people living paycheck to paycheck, and for me there is nothing more depressing. I've only been working for around a year and a half and I already have the economic freedom to be unemployed for a year. Also, I don't really feel like I live frugally. I go out as much as I want to, I go on holidays, I buy a few luxuries that I really…

I really don't understand how people manage to spend so much Maybe they just earn less than you?

Could be, but I have coworkers that make about the same amount of money as me, yet they're not able to save money. They spend it mostly on clothes, restaurants and bars. Some of them don't even have kids yet they manage to consume their whole paycheck within the month.

Re: How I live and how I work

#25

Post by isxek »

tzaman wrote: post #7

excellent point... if you want to live like a flower. Some of us prefer going to places, trying new things, meeting new people, having a family and hobbies. And all those things cost money. When I'm old I'd rather say I'm broke because I lived my life to the fullest than I lived conservatively so I can afford to be a stressless elder with savings (hopefully I wont be downvoted because I beg to differ)

> When I'm old I'd rather say I'm broke because I lived my life to the fullest

That's probably where people differ - how they understand what "living life to the fullest" means.

To the OP, it means spending less on what he does not need and working on the things he likes. To others, it's travel, meeting other people.

There's no shame spending your money the way you want. Just don't live beyond your means. Know your (financial) limits.

Re: How I live and how I work

#26

Post by ownagefool »

nwh wrote: post #15
pinaceae wrote: post #5

...and another one simply living single, with no outside responsibilities and lucky to be healthy, claiming this lifestyle as somehow superior (others complain!) but not realizing that there is nothing special about it. nobody dependent on you? no kids, no employees, no sick parents? you not dependent on anyone? no accidents, no clients not paying, no disease or disablement? living in a safe, rich, area of the world?…

I believe that there is something special about not needing to spend large amounts of money on fleeting entertainment. It's something that none of my peers have managed; they all still spend their income on drinking, cigarettes, tattoos, holidays and so forth. I don't particularly look down on them for it as they're obviously happy in their world doing it. I just think there's more enjoyment to be had outside of a 9-…

Just because everyone else jumps off a bridge, doesn't make you special for not following. Unless the bridge is on fire, then you probably are a bit special. ;)

Truth be told a lot of your peers feel the same way. They're confused as to why they need to go out and drink themselves stupid every night/weekend but it's what people do and they wanna be close to other people.

Re: How I live and how I work

#27

Post by wellboy »

tonylemesmer wrote: post #11

If everyone lived like the OP would the economy still work? Maybe the economy would shift. I only buy second hand cars because I hate paying too much depreciation but someone, somewhere is buying the new ones, which I can then take advantage of. I try and live as frugally as possible but my idea of frugality is probably way different to everyone elses, as is his.

Then everybody would have their own startup. Awesome. :)

Re: How I live and how I work

#28

Post by insuffi »

I completely agree with the OP. Let's be honest - you don't NEED a 100 k car right after graduation, even if you're earning a 100 k a year(I've seen this happen).

What he's trying to say is that there's a huge difference between NEED and WANT that people often mis-perceive.

If you only buy shit you NEED, you can save up, then quit your job and do things that you WANT to do, without having to worry about job security, next paycheck et cetera.

But people feel entitled. They DESERVE the car, they NEED the house. The economy would die if everyone was frugal lol

Re: How I live and how I work

#30

Post by jgeerts »

"I live differently to everybody else I know."

Then I expected a great story about an alternative lifestyle.

This just sounds boring as hell. To me this story sounded like "I live in a basement, almost never come out or buy things for myself, but I got time on my hand, so I'm living the life right here". It doesn't sound that good to me to be honest.

On the other hand, a story I liked to read was Mr. Money Moustache about how he managed to retire on the age of 30 with a NORMAL lifestyle.

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