You don’t have to live like a Spartan or Tibetian monk. What good’s a reward if you ain’t around to use it?
There’s no harm in having someone clean your house or mow your yard, if you and your wife both have full-time jobs (especially if you have kids).
I like having cable TV and Wi-Fi. I like watching sports and the occasional movie. I like perusing AF on the iPad at home. I got no problem with that.
I am kinda curious about a guy who spends ~$5k per year on clothes and almost a grand on nails and beauty products. It just occurred to me that you’re married. But $5k on clothes is still a lot.
Since you just got married (and didn’t you move, too?), it’s not unreasonable to buy home furnishings.
But brainwash already saves 50% of his income (“At this level we can save about 50% of our income after tax/401k/HC”). So why does he need to cut back on things he enjoys?
Look I’m not saying you can’t buy those things. I’m just saying if you’re looking to go lower you easily can. Unless you’re still growing I don’t know that a clothing budget, especially $400 a month makes any sense. But that’s preference and also tied to your income as well.
I will also say this. About a year or two ago I came to the realization that money saved has a very real tangible value. When the idea that savings = Freedom hit me it was a real revelation. The first thing most people think about with the lottery isn’t necessarily the car they’d drive (at least it wasn’t for me), it was the fact that I could go live the life I wanted and not waste it at a desk. The freedom that comes with large savings and being debt free is pervasive. It impacts your career options, it lets you take the job you want over the one you need. It lets you take fewer hours for a lower salary and more time with family. It lowers stress and uncertainty and eases strain in the home. Also, it has secondary impacts. Having less material distractions means we do far more. Smaller house means fewer ongoing expenses and less maintenance. Same with fewer things. Because I don’t have cable TV to veg out on, if a game is on we go to a social setting like a bar or a friends house. One of the reason’s I’ve opted for a smaller square foot house is because it cuts back on unnecessary furnishing purchases “just to fill space” and also enforces discipline in not accumulating purposeless stuff.
It’s a personal choice but it definitely is more than just not spending money and being bored. I mean some of the best social times in people’s lives happened in college when they have no money. In a lot of ways that’s what I’ve found by spending less and doing more in the outdoor community.
Also, Penn State is less than the price mentioned in state. I’m not as rich blooded as some of you folks so I don’t have a problem with those schools.
I actually didn’t see that the first time. I guess I just saw the list and went to work. But like I said, it’s definitely a subjectively personal thing. There’s no reason he can’t spend the money.
Frank: You get up two and a half million dollars, any asshole in the world knows what to do: you get a house with a 25 year roof, an indestructible Jap-economy shitbox, you put the rest into the system at three to five percent to pay your taxes and that’s your base, get me? That’s your fortress of fucking solitude. That puts you, for the rest of your life, at a level of fuck you. Somebody wants you to do something, fuck you. Boss pisses you off, fuck you! Own your house. Have a couple bucks in the bank. Don’t drink. That’s all I have to say to anybody on any social level. Did your grandfather take risks?
Frank: I guarantee he did it from a position of fuck you. A wise man’s life is based around fuck you. The United States of America is based on fuck you. You have a navy? Greatest army in the history of mankind? Fuck you! Blow me. We’ll fuck it up ourselves.
Had time for TV, no time to clean up the house. Watching TV is the only thing less productive than posting on AF. A cleaner, in my humble opinion, is the very definition of douchey.
Maintenance costs were overlooked. That’s about $30/mn for both our vehicles. Our house is new so very limited maintenance and I do any labour around the house myself. Gardener? Are you kidding? Are you a millionaire? I’m a partner in a landscaping outfit. I love that folks pay my firm $40 for 20 minutes of work cutting grass because they’re too lazy. The funny thing is most clients earn less than my landscapers. Funny shit. Makeup crap is a factor, but thankfully I don’t see that bill.
I’d say we’re about $5k-$6k per month all in household spend. $5k would cover all our regular expenses and over the year the extra $1k per month average would cover trips away, work done around the house, new furnture etc.
Right, as I said I agree that being very frugal is good and I used to live that way, but I am married now and that comes with compromises.
To put it in context, based on my budget we will be saving $72k per year while maxing out 401k and not including bonuses. Bonuses have historically been about the same as salary, but obviously they are variable.
While our budget may seem high to some on here, I would venture that being debt free (ex- 3.5% mortgage) and saving well over 100k per year (assuming lower bonus than I any of the last 5 years) in liquid cash puts us in a better place than many financially. Could we save more? Sure. But, I think starting around here will be good for me. Everyone has their own personal situation.
Not bad to be BFYF…not bad. next you’re going to say that your wife is hot, smart, friendly, and earns a lot of money (the four things I never seem to find in one package).