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re: Monthly income vs expenditures

Posted on 8/20/24 at 9:38 am to
Posted by clamdip
Rocky Mountain High
Member since Sep 2004
20622 posts
Posted on 8/20/24 at 9:38 am to
quote:

My wife makes sure that we spend every last dime.


Income vs Expenses (Instagram)
Posted by fareplay
Member since Nov 2012
6306 posts
Posted on 8/20/24 at 10:20 am to
It’s funny how different people spend their money. Wtf is a hobby farm
Posted by slacker130
Your mom
Member since Jul 2010
8941 posts
Posted on 8/20/24 at 11:04 am to
quote:

My extra money is my VA benefits check every month. I sure do appreciate Uncle Sam being my baby daddy


Hope you don't have a disabled vet tag on a nice truck. You'll trigger some folks here.
Posted by clamdip
Rocky Mountain High
Member since Sep 2004
20622 posts
Posted on 8/20/24 at 11:50 am to
quote:

It’s funny how different people spend their money. Wtf is a hobby farm

You've heard the definition of a boat? "A hole in a lake that you pour money into."

It's like that, except cows are standing around.
Posted by UncleLogger
Freetown
Member since Jan 2008
3126 posts
Posted on 8/20/24 at 12:03 pm to
5 years ago $2,500 - $3,500/month after 401k & 529. That was without really trying to save.

Now I’m doing good if I’m not pulling money out of savings to pay off the cc balance at the end of the month. Our household income has gone up quite a bit since then too; my wife stays buying shite so that doesn’t help.
Posted by TheHarahanian
Actually not Harahan as of 6/2023
Member since May 2017
23137 posts
Posted on 8/20/24 at 12:13 pm to

My first job out of college, my car note plus rent used about half of my after tax money, and I still needed to buy groceries and pay for utilities and insurance. If I was careful, I’d end up with a little left over to sock away.

That’s living check to check.
Posted by Rize
Spring Texas
Member since Sep 2011
18731 posts
Posted on 8/20/24 at 1:27 pm to
quote:

It’s funny how different people spend their money. Wtf is a hobby farm


A farm you don’t make money off of.

Basically keeping a bunch of pets that cost money to feed and vet bills.
Posted by LSUmajek
Kemah
Member since Dec 2013
583 posts
Posted on 8/20/24 at 1:31 pm to
5k Into investments
3k into savings.
Posted by RandySavage
9 Time Natty Winner
Member since May 2012
34861 posts
Posted on 8/20/24 at 2:03 pm to
Do you guys investing thousands every month also have a pension or no?
Posted by fareplay
Member since Nov 2012
6306 posts
Posted on 8/20/24 at 2:04 pm to
Pensions are usually for govt work or utilities right? Most private employees don’t have that, just 401k
Posted by RandySavage
9 Time Natty Winner
Member since May 2012
34861 posts
Posted on 8/20/24 at 6:32 pm to
Right but Im gov so Im trying to figure out what I need to be doing given between my wife and I we will be bringing in a little over 100k a year after retirement.
Posted by lsupride87
Member since Dec 2007
108575 posts
Posted on 8/20/24 at 6:37 pm to
Bro there is no definitive right answer. Saving thousands every month to save for later in life just to die at 66 doesn’t seem “right”. Find a balance that works for you
Posted by Dawgfanman
Member since Jun 2015
25895 posts
Posted on 8/20/24 at 6:37 pm to
After all bills, deductions from work, retirement savings. We have about 4K per month. This is for food, gas, eating out and just bullshite. At end of the month we dump whatever is left in savings for irregular expenses or pay on long term debt (house/heloc).
Posted by aTmTexas Dillo
East Texas Lake
Member since Sep 2018
22739 posts
Posted on 8/20/24 at 6:40 pm to
Can I contribute here? I'm retired and have this stash of money over here. Whatever I spend in a month and regardless of what I spend in a month, I go to the stash and get it. I try to be frugal though.
Posted by RandySavage
9 Time Natty Winner
Member since May 2012
34861 posts
Posted on 8/20/24 at 7:51 pm to
I'm definitely yolo but I'm in my 40s now so I've started to think about it more. I definitely want to err on the side of enjoying it now with my kids but don't want to be totally poor or work forever either. We also stand to inherit a decent amount of money and i try not to factor it in but can't help myself
Posted by Sofaking2
Member since Apr 2023
19548 posts
Posted on 8/20/24 at 7:56 pm to
quote:

A lot less than I had 4 years ago.

Did great under Trump. Inflation wasn’t off the charts.
Posted by KWL85
Member since Mar 2023
3178 posts
Posted on 8/29/24 at 9:28 am to
Then you are doing it wrong.
__________

Anyone that doesn't have significantly more money than 4 years ago should let someone else make their investing decisions. The down votes are from idiots!
Posted by Stumpknocker
SWLA
Member since Mar 2021
788 posts
Posted on 8/29/24 at 9:31 am to
The answer is to always pay yourself first!

Your savings should be your first expenditure each month.
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