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Message
re: Tired Of Pinching Pennies!!
Posted on 8/31/23 at 8:08 am to BayouBengal23
Posted on 8/31/23 at 8:08 am to BayouBengal23
I respect the commitment to tithing as I agree it's very important. But I disagree that the amount is important, particularly if you can't put gas in your car. See Mark 12:41-44 and the widow's two coins.
Another way to glorify God is to put yourself in the best financial situation possible so you can give to the church with time and offerings, which may mean you give more time now, and more offerings later. You aren't helping your family or the church by strapping yourself like this, as the self-inflicted stress will negatively affect your life as a Christian, husband, and father.
No judgment here, as we are all works in progress
Another way to glorify God is to put yourself in the best financial situation possible so you can give to the church with time and offerings, which may mean you give more time now, and more offerings later. You aren't helping your family or the church by strapping yourself like this, as the self-inflicted stress will negatively affect your life as a Christian, husband, and father.
No judgment here, as we are all works in progress
1
Posted on 8/31/23 at 8:35 am to faraway
quote:
no might to it. your reading skills are ridiculous.
Whoops! I meant if he was having money tied up in those carts/boats/dirt bikes. I was just wondering if he bought that stuff and it took forever to sell it.
OP knew what I was asking and answered it luckily. My reading be good but maybe how I asked the question not so good.
This post was edited on 8/31/23 at 8:38 am
Posted on 8/31/23 at 8:39 am to BayouBengal23
Thanks to all for the encouragement, advice, and opinions! Gave me a lot of things to think about. This was mostly just a vent session about how hard it is for the average middle class family to "get ahead". Much appreciated as always!
Posted on 8/31/23 at 8:50 am to BayouBengal23
quote:
This was mostly just a vent session about how hard it is for the average middle class family to "get ahead"
You own three properties and you are a landlord. You're ahead of like 85% of americans at least. You aren't an average middle class family.
This post was edited on 8/31/23 at 8:51 am
Posted on 8/31/23 at 9:28 am to ThatsAFactJack
quote:
Your math is a little off.
Thats 2500/month if his mortgage is 30% of $100k.
100,000(.30)=30,000/12=$2500
That is still ludicrous for that salary. When I was in that exact position ($100k/yr and family of 5 buying a new house), I kept my mortgage to <$1,100/mo. It will vary by location but that is why you can't have the same house standard anywhere you go.
Posted on 8/31/23 at 9:39 am to BayouBengal23
I hear you man! I’ve been offshore for 24 years and my wife is an office manager / CPA. We used have lots of extra money. Now we’re medium income people. Not that it’s a bad thing. I need lives oilfield rich and my kids are gone. I miss the good ole days!
Posted on 8/31/23 at 9:58 am to BayouBengal23
quote:
Thanks to all for the encouragement, advice, and opinions! Gave me a lot of things to think about. This was mostly just a vent session about how hard it is for the average middle class family to "get ahead". Much appreciated as always!
Personally, I’m pulling for you - especially after you mentioned the rat race. I’m not here to give my “testimony”, but after pursuing money and things as a means to an end for most of my early years (and finding that I had something of a weird talent for it), I realized that I’d become a rat in the race. And although I was a pretty talented rat, I was still a rat. It was an extremely sobering (and painful) realization - hating the guy in the mirror is not fun. Believe me.
So as a former Yuppie, I encourage you to just keep on keepin’ on and continue walking the right path (your heart and faith will tell you what that is - not any of us). On those difficult, tiring days, look at your family and what your (not just financial) goals are as a family.
Best of luck to you, amigo. I mean that.
Posted on 8/31/23 at 12:50 pm to BabyTac
quote:
How much was your house? What year, make, model of vehicles do you have?
You haven’t answered my questions.
Posted on 8/31/23 at 1:00 pm to BayouBengal23
If you feel this burden, the only thing to do is sell the rental. A bird in the hand is better than 2 in a bush. Rental houses, especially only 1 are not a great cash flow from my experience.
Posted on 8/31/23 at 1:22 pm to BayouBengal23
this country has eliminated the middle class. its frustrating
Posted on 8/31/23 at 1:52 pm to BabyTac
quote:
How much was your house? What year, make, model of vehicles do you have?
200k
2012 Tahoe with 85k (10k owed)
2008 sierra with 100k (paid off)
Posted on 8/31/23 at 5:18 pm to BayouBengal23
I work at a job I hate because I don't want to be like you.
Posted on 8/31/23 at 6:13 pm to BayouBengal23
quote:
wanting to add more children to the family
My man, sounds like you’re too broke for the one you’ve already got.
Posted on 8/31/23 at 6:25 pm to NaturalBeam
"NaturalBeam"
Your post sir, is packed with Godly wisdom!! I would have given you more upvotes if i had them to give!
Hang on OP to the one who says "come to me all who are weary and heavy laden for I will give you rest"
Your post sir, is packed with Godly wisdom!! I would have given you more upvotes if i had them to give!
Hang on OP to the one who says "come to me all who are weary and heavy laden for I will give you rest"
Posted on 8/31/23 at 7:03 pm to BayouBengal23
The glaring question is, if you’re cashing out of your teacher’s retirement, what’s the new job??
Posted on 8/31/23 at 7:52 pm to BayouBengal23
I was in a very similar situation. Wife and I were both teachers making about 100k total, wanting a family and wanting to invest in real estate for later. Biggest thing I had going for me was I got married so I had several years to pay down car note and sock some cash away before getting married and kids. Invested in a couple of trailers and over the next 15 years parlayed those into several houses and trailers. IMO you need a max of 10k for rent house repairs. Anything other than that could be put down for debt or saved for a vacation. I think it is important to enjoy your money responsibly. I got caught up in accumulation and didn't want to cut any of it loose for anything. I realized I needed to spend some for experiences with my wife, and family. We would take several vacations a year although it was 1500 long weekends to the beach or mountains. Never and still haven't taken the 8k Disney trip. You shouldn't be so house poor that you can't enjoy life. We have a nice house and nice vehicles (nothing extravagant but nice), so it can be done.
I have friends who are more extreme than me who do it on a one teacher salary with three kids. It can be done but they live cheap and he has several side hustles that he really grinds and supplements his income.
I respect the tithing of 10%. Malachi 3:10-12 God says to test Him with your giving.
You're on the right track but it still seems like it shouldn't be so tight that there isn't money for gas.
I have friends who are more extreme than me who do it on a one teacher salary with three kids. It can be done but they live cheap and he has several side hustles that he really grinds and supplements his income.
I respect the tithing of 10%. Malachi 3:10-12 God says to test Him with your giving.
You're on the right track but it still seems like it shouldn't be so tight that there isn't money for gas.
Posted on 8/31/23 at 8:02 pm to BayouBengal23
100k ain’t what it used to be. I make 100k+ as a single guy with minimal expenses and there are still months where I’m like where did my money go this month
I can imagine it being tough if you throw a wife and kids into the mix
I can imagine it being tough if you throw a wife and kids into the mix
Posted on 8/31/23 at 10:03 pm to Motorboat
quote:
It's high dude.
No it isnt, even the most conservative financial people out there will say 25% of after tax income for housing and 30% is barely above that.
quote:
He makes $100K/year so his note is $3000/mo.
Also wrong, they GROSS $100k/yr and he said their house payment is 30% of their net/take home pay which is totally reasonable. They probably take home ~ $6k a month. That's a bit under 2 grand. They should have at least $4k left over for other stuff which is plenty.
Again, 30% of net/take home pay to housing is not out of line at all and nowhere close to being the problem here. They have 70% of their money left over to do everything else.
Theres other issues here but it's definitely not their primary home by any shape of the imagination.
This post was edited on 8/31/23 at 10:13 pm
Posted on 8/31/23 at 10:19 pm to BayouBengal23
We lived the majority of our working years as you described as we had three children to care for. It began to relent and we now do what we want to do when we want to [nothing extravagant]...we owe no one a cent.
We both work part time and save more than we ever have month to month but it just doesn't go as far.
Long story short, it does get better but those early years, when accumulating can be dizzying
We both work part time and save more than we ever have month to month but it just doesn't go as far.
Long story short, it does get better but those early years, when accumulating can be dizzying
Posted on 8/31/23 at 11:28 pm to thunderbird1100
30% of net going to a mortgage is definitely on the high side.
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