Saver or spender

  1. wolram

    wolram 3,552
    Gold Member

    Is your philosophy to put money away for retirement or spend it and enjoy it while you can, i seem to take a 50/50 approach, just can not resit buying
    but know i should save.
  2. jcsd
  3. FredGarvin

    FredGarvin 5,084
    Science Advisor

    My philosophy has definitely changed with age. When I was just starting out, I spent, but I'd like to think it was for good things, like working on my first house, etc...Still, there was a lot of spending to do. I think now that I am established, I don't have the need to spend a lot other than pay the bills. Every once in a while the mood hits when a cool toy comes along, but that's not very often. Now a days, it's definitely save time. I try to sock away as much as possible into ye olde 401k.
  4. JasonRox

    JasonRox 2,303
    Homework Helper
    Gold Member

    My approach right now is just to get the debt paid off first and then start saving.

    I'm not a big spender really. Not a big saver either.

    I do plan on saving and investing once I'm done school though.
  5. Neither, poor me.
  6. Spender. My life philosophy is that I'm only here for a good time -- not a long time.
  7. JasonRox

    JasonRox 2,303
    Homework Helper
    Gold Member

    Becareful though. If debt gets out of hand, the debt will control your life and ruin it, so that good time won't exist and a couple years because you have to make up for that last 2 years.
  8. Danger

    Danger 9,663
    Gold Member

    I try to save, particularly now that I'm getting old, but whenever there's a surplus something uncontrollable happens to make it go away. For instance, my entire paycheque that I got last Friday was gone by Monday night due to a funeral in another town along with our rent coming due. Then there are vehicle repairs and whatnot that can't be avoided.
  9. wolram

    wolram 3,552
    Gold Member

    Money will come your way some time
  10. :cool: I don't have any debt except for the inevitable student loans, which I take sparingly. I just don't save much of my money, but do live within my means.
  11. Not if my wife and kids have any say.
  12. Moonbear

    Moonbear 11,955
    Staff Emeritus
    Science Advisor
    Gold Member

    My natural inclination has always been to save. Whenever someone gave me money as a present when I was a kid, I'd want to go straight to the bank to put it in my savings account. My one grandmother used to try to insist I was supposed to spend some of it on something fun, but that never stopped me from squirreling it all away.

    As I've gotten older, I've learned to spend some. I still lean toward saving...I have my retirement account that gets a fixed amount every paycheck (and every few years, I adjust that amount up a bit as I earn more and have a little extra to set aside), and then I have other accounts for goal-oriented saving toward things that are more like investments (i.e., toward a downpayment for my next house), and some for rainy day funds for emergencies, but I also don't want to be such a penny-pincher that I never do anything enjoyable with my life, so I do spend on things like vacations, nice furniture to make my home a pleasant place to live, the ocassional splurge on a gadget or clothes or dinner out. I just don't do it often, and always have in mind a portion of the budget that is available for little splurges that won't cut into my long-term savings so I don't have to worry about going into debt should some emergency come up (i.e., hospitalization, major home repairs, etc.)
  13. I live at home, so I don’t really have any expenses and it allows me to save a Ton of money from work. My parents pay for school, but I try to help out by buying my own books (which end up being around $600 bucks each semester, ouch!).

    That’s the reason why I’m flying and bought a new bike. I saved that money from working throughout college. There are things I don’t mind paying top dollar for though (bikes, motorcycles, airplanes, RC airplanes) because I learn how they work, how to operate them, get to use them all the time.

    But there are some things I don’t like buying and complain about. I don’t care for jewelry (other than buying a class ring, as an accomplishment). I dont wear a watch unless I have to dress up and use the one my grandfather gave me (a simple black band swiss watch). I don’t buy CD's that often. I have about as many movies or DVDs as fingers. ( I don’t download them off the net, if I want a song Ill buy it from I-tunes for $0.99). I don’t supped-up my car and put rims on it, or other obnoxious stuff people do around here.

    I don’t believe in putting money in a bank and letting it sit there. It’s useless. The interest is peanuts. Hopefully if I get into grad school they will pay me $30k a year, so when I graduate I will come out with around $50k. Either I can use that as a down payment on a house or I can buy a used Cessna or something. But I don’t wanna buy something like a new car with it. Honestly, buying a house with it would be the smartest move.

    My school is only about $4,500 a semester, so its not that bad considering that you can put that on your taxes. I am glad I dont go to a private school that would have cost me almost $20-30k a year. Not worth it IMO.

    Im not married, dont have kids, dont have cost of living, and I dont give people expensive gifts or any gifts (and I dont want gifts in return, just give me a card at *most*). I think I spend my money in a smart way.
    Last edited: Jun 8, 2007
  14. wolram

    wolram 3,552
    Gold Member

    I think i feel guilty for spending a large amount on my (hobby) i could
    have put it to better uses, when i reckon up how much i have spent
    the figures seem to scream out IDIOT, but then i think i have done
    my spending for now and can start saving again.
  15. Hobbies are expensive. If you spent it on motorbikes, money well spent. You got to take apart your bike, fix it, learn about it, and put it back together.

    I think hobbies are the best way to blow your money. Many people don’t have a hobby. I find those people are the ones obsessed with having a nice car or clothes, because they have nothing else to do.
  16. wolram

    wolram 3,552
    Gold Member

    You guessed :smile
  17. My philosophy is to make so much money I cant help but save :smile: easier to say than implement..
  18. right now I have a net total of.. 300 dollars. Canadian. Hey, I'm a student. I tend to save a lot during the summer, and then lose it all somehow during the semester.
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