How much money do you put in savings every paycheck? | Page 4 | TigerDroppings.com

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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4477 posts

re: How much money do you put in savings every paycheck?


"Savings" strikes me as a fairly generic term, since the purpose of much of my savings is to spend later. But I'll share a contribution to this thread. Some of my monthly savings are actually spending accounts. Something else I consider savings is actually part of my employment compensation.

These are monthly totals:

Total pension contribution - $3,800
Retirement fund - $2,106
Property tax/misc fund - $700 (Houston prop tax is the majority of it)
College savings for 2 of my kids - $400 (to supplement a gift trust we set up at birth)
Home improvement fund - $325
New car fund - $325
Son's graduation gift - $215
Vacation fund - $170
Christmas fund - $150
Pre-tax witholding for commuting expenses - $125 (bus fare)
Stocks (trying something different for youngest son's college) - $100
Insurance fund - $100 (trying to build up lump sum to begin paying auto and property insurance in full instead of monthly installments (lower admin cost))









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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
11433 posts

re: How much money do you put in savings every paycheck?


quote:

Some of my monthly savings are actually spending accounts.


So some of your monthly savings are actually bills? Like the $215 (which I presume is a car payment) for your sons graduation gift. Or the payment of your annual taxes.






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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16948 posts

re: How much money do you put in savings every paycheck?


quote:

Willie Stroker


You save 6+ grand a month for retirment and you take the Houston bus system?

Dafuq?






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RickAstley
LSU Fan
Reno, Nevada
Member since May 2011
1634 posts

re: How much money do you put in savings every paycheck?


This is similar to how I manage my savings, I allocate blocks to certain known expenses, as well as future known expenses. That is why budgeting has been such a refresher to my approach with financial management. Atleast I can utilize old spending data to provide predictions for how much needs to be set aside for what is up ahead.





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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4477 posts

re: How much money do you put in savings every paycheck?


quote:

So some of your monthly savings are actually bills? Like the $215 (which I presume is a car payment) for your sons graduation gift. Or the payment of your annual taxes.


Not for monthly bills. The property tax is saved monthly for an annual payout. I did concede in my thread that I'm defining savings loosely - that it's a list of things I'm saving for to avoid or minimize financing. Some save for a retirement horizon, some for a 5-10-20 year horizon for things like a college fund, but I decided to start saving for various other things I plan to use these savings for, some with less than a 5 year time horizon.

The car savings is comparable to a car payment, but I'm paying myself at interest in advance of purchase to avoid or minimize financing later. Am I breaking the rules of this thread?



This post was edited on 12/6 at 4:26 pm


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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4477 posts

re: How much money do you put in savings every paycheck?


quote:

You save 6+ grand a month for retirment and you take the Houston bus system?

Dafuq?



Mandatory retirement at age 57, so I have to save more ambitiously than most even if I plan to start a 2nd career later.

It's a commuter bus
.
Holds me and about 50 others. It's an hour commute from a suburb about 30 miles outside downtown Houston. Some recline and sleep. Others like myself will either read, work, or listen to music until the bus starts dropping off people downtown.

With discounts (pre-tax money and 1 free commute for every 10), it comes out to about $5.80 per day. It would take me about two gallons of gas daily to drive a personal vehicle. That already exceeds the bus expense without even tabulating the parking cost, vehicle maintenance, and whatever the extra insurance rate would be for the "mileage from home to work" calculation they do.

The other non-monetary benefits of taking the commuter bus is I get time for personal reading. Currently reading Nassim Taleb's newest.



This post was edited on 12/6 at 4:27 pm


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TheHiddenFlask
Clemson Fan
The Welsh red light district
Member since Jul 2008
16948 posts

re: How much money do you put in savings every paycheck?


Okay. I've just seen the dregs of society that hang around the bus stops in downtown (when I'm brave enough to vanture outside of the tunnels for lunch) and I imagined the bus to be filled with those types.

That actually doesn't sound bad at all. How late do those buses run? That might actually make the suburbs of Houston more appealing to me.






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StrangeBrew
LSU Fan
Salvation Army-Thanks Obama
Member since May 2009
13818 posts

re: How much money do you put in savings every paycheck?



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quote:

paycheck?


Is it bad that I have no idea when I get paid anymore?






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cwill
New Orleans Saints Fan
Member since Jan 2005
25172 posts

re: How much money do you put in savings every paycheck?


quote:

Holds me and about 50 others. It's an hour commute from a suburb about 30 miles outside downtown Houston. Some recline and sleep. Others like myself will either read, work, or listen to music until the bus starts dropping off people downtown.

With discounts (pre-tax money and 1 free commute for every 10), it comes out to about $5.80 per day. It would take me about two gallons of gas daily to drive a personal vehicle. That already exceeds the bus expense without even tabulating the parking cost, vehicle maintenance, and whatever the extra insurance rate would be for the "mileage from home to work" calculation they do.


Sounds like motherfricking hell to me....it's why I live in the Heights.

What the hell do you do that requires you to retire at 57?






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VABuckeye
Ohio State Fan
Oak Hill, VA
Member since Dec 2007
11433 posts

re: How much money do you put in savings every paycheck?


Breaking the rules?

Not at all. Was just curious. I put money away for future spending like you do. I just don't think of it as savings since it is earmarked to be an expense.






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jso0003
Auburn Fan
Birmingham/Atlanta
Member since Jun 2009
4897 posts

re: How much money do you put in savings every paycheck?


quote:

With discounts (pre-tax money and 1 free commute for every 10), it comes out to about $5.80 per day. It would take me about two gallons of gas daily to drive a personal vehicle. That already exceeds the bus expense without even tabulating the parking cost, vehicle maintenance, and whatever the extra insurance rate would be for the "mileage from home to work" calculation they do.


You don't enjoy activity based costing at all do you?



This post was edited on 12/7 at 12:04 am


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loyalauron
LSU Fan
Atlanta
Member since Nov 2012
1325 posts

re: How much money do you put in savings every paycheck?


Almost nothing. I am a student and make just above minimum wage, can't really afford to put any away.





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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4477 posts

re: How much money do you put in savings every paycheck?


quote:

I've just seen the dregs of society that hang around the bus stops in downtown (when I'm brave enough to vanture outside of the tunnels for lunch) and I imagined the bus to be filled with those types.

That actually doesn't sound bad at all. How late do those buses run? That might actually make the suburbs of Houston more appealing to me.



There are zombies that roam and are drawn to some bus stops, but they are mostly harmless. My standard line is, "I'm sorry, but I don't carry cash". The dregs will mainly loiter in front of convenience stores. Each commuter bus has a designated stop every couple of blocks, so you can always be selective about your peer group.

The suburb I live in has riders who mostly wear neckties, and read from their Kindles/iPads. In fact, I'm posting from an iPad on the commuter bus at this moment. The passengers are mostly silent and always dignified. Do you know that moment on an airplane when the door to the cabin is opened and its time to exit the plane where passengers throughout the plane immediately stand in the aisle to be one of the first ones off and few if any courteously offer others in front of them a place in line? That NEVER happens on this bus. It is orderly as hell at the final destination, with riders only rising from their seats when passengers in front of them have exited their seats to walk down the aisle. It would be a break of etiquette to rise from the back of the bus and walk to the front in order to exit before others.

I only venture into the tunnels occasionally for lunch, and as a means of getting to my bus stop when it rains. I find the tunnels too crowded and full of slow moving people. I feel more efficient and aware as a surface dweller. Speaking of rain and busses, there are some building lobbies where riders can wait without being exposed to the elements. Rain also keeps the zombies away.

I can't speak for all the routes, but the one I take runs till 10pm. After 6:00 pm, the pickup times start to get spaced out until there's an hour wait between pickups, but that gives you time to grab a beer before the ride home.



This post was edited on 12/7 at 7:43 am


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Willie Stroker
LSU Fan
Houston...ish
Member since Sep 2008
4477 posts

re: How much money do you put in savings every paycheck?


quote:

Sounds like motherfricking hell to me....it's why I live in the Heights.

What the hell do you do that requires you to retire at 57?


I would love to live in the Heights. But I find a greater peace of mind living in the burbs with kids. For the price of a house in the Heights, you can own a mansion on the lake or on a golf course in the burbs.

I've lived in Heights-like neighborhoods in BR, and in NO. I would choose where I live now and with my commute every time over those more congested and costlier areas. By working downtown and living in the burbs, I get to enjoy the best of both worlds....at less cost (more savings).

As to the line of work - it's a federal law enforcement job. I guess that explains my comfort level walking amongst "the dregs".



This post was edited on 12/7 at 7:46 am


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BamaScoop
Alabama Fan
Panama City, Florida
Member since May 2007
33672 posts

re: How much money do you put in savings every paycheck?


quote:

it's a federal law enforcement job. I guess that explains my comfort level walking amongst "the dregs".


So you are par kof that racketeering organization they call our federal government.






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