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How much money do you have saved up?

RosieKins said:
I used to be a pretty average saver, around $1000-3000 in savings.

Recently though we were lucky enough to win a large sum on the Lottery - 75% of it is saving itself, building interest for the future, and living off for food and bills. The rest (25%) has been spent or is being spent for impulse buys and gifts, charity, etc.

Best,
rose.
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Congratulations on your luck in winning the lottery! I am glad to hear that you are smart enough to save a majority of your winnings. I find it sad/ironic that most people who win the lottery, even large sums, often end up broke in a few short years - so good for you RosieKins on being smart in handling your winnings. 🙂
 
I try to put a bit away each month, but I'm not very good at it. This month, my savings dropped by €200 just for Christmas and other stuff. I really need to get that money back.
 
£4384, or so my Mini Cash ISA says. Then about £950 in the current account, and another £500 in Christmas money from today. £381 left to pay off my Egypt holiday though.

Over £10 a month interest on the Mini Cash ISA also hurrah for free money.

Buying a new setup in January depending on what is released at MacWorld, but seriously, I started saving for a iPhone 3G and kept going... It feels pretty good. 🙂
 
I don't have any. I have over $25,000 in credit card debt that I really can't afford and will be doing the bankruptcy thing in 2009. It's basically all those Macs that I bought that I couldn't afford, Mac Pro, iMac, MBP, MB. It's easy to buy but when the bills start coming in and some of them are nearly $100 for the minimum payment and high interest rates such as the Juniper Visa, Bill Me Later and Gap card, well it gets hard. I gave up paying them back in September.

"Maybe" in a few years I can start saving. I guess I'm the typical spend it before you get it American. 😱
 
hexonxonx said:
I don't have any. I have over $25,000 in credit card debt that I really can't afford and will be doing the bankruptcy thing in 2009. It's basically all those Macs that I bought that I couldn't afford, Mac Pro, iMac, MBP, MB. It's easy to buy but when the bills start coming in and some of them are nearly $100 for the minimum payment and high interest rates such as the Juniper Visa, Bill Me Later and Gap card, well it gets hard. I gave up paying them back in September.

"Maybe" in a few years I can start saving. I guess I'm the typical spend it before you get it American. 😱

Signature: Mac Pro 2.8, 23" ACD 2GB Ram; iMac 20" 320GB 3GB Ram; 1 white iPhone; 160GB Classic Silver, 120GB Classic Black
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Seriously, an iPhone that has a $2000k plus commitment when you have that much debt? Two iPods to go along with a phone that doubles as an iPod? A MacPro w/ an ACD and a iMac?

You should be selling all that crap in your sig and get a second job to pay those bills off. You could have that paid off in a year if you do that. Then SAVE and pay CASH for items like that.

www.daveramsey.com
www.suzeorman.com

The lack of personal responsibility shown my many Americans for their debt amazes me. You signed on the dotted line, you are responsible for the debt. Period.

Time to take care of business.
 
w0ngbr4d said:
Seriously, an iPhone that has a $2000k plus commitment when you have that much debt? Two iPods to go along with a phone that doubles as an iPod? A MacPro w/ an ACD and a iMac?

You should be selling all that crap in your sig and get a second job to pay those bills off. You could have that paid off in a year if you do that. Then SAVE and pay CASH for items like that.

www.daveramsey.com
www.suzeorman.com

The lack of personal responsibility shown my many Americans for their debt amazes me. You signed on the dotted line, you are responsible for the debt. Period.

Time to take care of business.
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I am working two jobs already. I also have a mortage and a car payment.

I sold the MBP and MB last summer. There is such a thing as bankruptcy for a reason you know. When you have too much debt it's there to get rid of it. Credit card comapnys gotta share some of the blame you know. They maks it so easy. I barely had a BestBuy mastercard with a $1500 limit, used it two months and paid it off. They increased the limit to $3000 without me doing a thing. Then they give a regular BestBuy card and uo the linit on it to $4000. ok. I don't feel guilty about filing bankruptcy in a few months. I'll be forced to pay everything in cash for a few years.

It's ok man, calm down. I'm not upset anymore about it. Maybe this time I'll learn my lesson about credit cards. I did the same thing back in 1997 with allot less debt and a crappy car with too many miles and $19,000 owed on it.
 
hexonxonx said:
I am working two jobs already. I also have a mortage and a car payment.

I sold the MBP and MB last summer. There is such a thing as bankruptcy for a reason you know. When you have too much debt it's there to get rid of it. Credit card comapnys gotta share some of the blame you know. They maks it so easy. I barely had a BestBuy mastercard with a $1500 limit, used it two months and paid it off. They increased the limit to $3000 without me doing a thing. Then they give a regular BestBuy card and uo the linit on it to $4000. ok. I don't feel guilty about filing bankruptcy in a few months. I'll be forced to pay everything in cash for a few years.
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No, credit card companies don't share the blame. Just because you have a high limit doesn't mean you have to use it. I have a Visa with a $10,000 limit and another one with a $4,000 limit. You know how much credit card debt I have? None. Not a single penny. Chase probably hates me because I rack up rewards points and haven't given them a dime in finance charges. It's called personal responsibility.
 
hexonxonx said:
I don't have any. I have over $25,000 in credit card debt that I really can't afford and will be doing the bankruptcy thing in 2009. It's basically all those Macs that I bought that I couldn't afford, Mac Pro, iMac, MBP, MB. It's easy to buy but when the bills start coming in and some of them are nearly $100 for the minimum payment and high interest rates such as the Juniper Visa, Bill Me Later and Gap card, well it gets hard. I gave up paying them back in September.

"Maybe" in a few years I can start saving. I guess I'm the typical spend it before you get it American. 😱
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YOU are the reason why the world is in an economic melt down.

Charge charge charge.

Racking up debt that is 3-5x your annual income.

People buying a 500k house when they make 30k.

Everything is bought on credit.

Bestbuy wasn't going to send their thugs afer you if you didn't max your card out every month.
 
hexonxonx said:
I don't have any. I have over $25,000 in credit card debt that I really can't afford and will be doing the bankruptcy thing in 2009.
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Wow. Good luck with that 🙄.


My wife and I have socked away a few hundred bucks for temporary emergencies, but there will be NO saving for another 3.5 years. I just started professional school, taking ~30 credits/semester, and the meager "Cost of attendance" loans aren't even covering our expenses, as rent is quite high in the nice (safe) part of my city. The wife will not be working as she has a far more important job of raising our child (soon to be children). Neither of us can work right now, although she recently started a small home business that should bring in a couple hundred/month. I have just reached the six figure school loan debt marker, and will be approximately $400,000 in debt upon graduation in 2012. lol. No house to show for it, just a fancy DDS behind my name, eventually. We do have a few nice things are paid for, such as my truck, most of my wife's car, my techno-gadgets, and our apartment furnishings. Hopefully they'll all last 5-10 more years w/no problems.

The plan is to buy a modest house wherever we settle down, get involved in some form of loan repayment program, live on 50% of my net income, use 35% for loans, 10% for tithing, and 5% for savings. Under that plan I'll be debt free by around 2020. 2025 is more likely as we throw in a few family vacations & fun toys.

The only thing I could see changing in the above formula, is perhaps taking ~10% from my living allowance or my loan repayment percentage and investing in some form of retirement cash. Unless some of you older, wiser folks have different ideas 😀.

Sorry for the long post.
 
Hmm not much!

I started saving £50 a month in an ISA for car related bills and other unexpected expenses.


I had £250, but I withdrew £100 as my car needed new breakshoes and an oil and filter change. My MOT is due January, and I hope it doesn't use up everything that's left (£150).

I also came to the conclusion that an ISA isn't the right type of saving account for me if I want to access it 1-2 times a year, so I opened up a savings account, last month and I transfer £15 over to it every month.

That way every year I'll save £180 which should more than cover any car expenses and unexpected bills.
 
$400 000? That's a lot of schooling! But at least that's an investment in your future, and not something that's going to depreciate.

Still... ****!
 
hexonxonx said:
I am working two jobs already. I also have a mortage and a car payment.

I sold the MBP and MB last summer. There is such a thing as bankruptcy for a reason you know. When you have too much debt it's there to get rid of it. Credit card comapnys gotta share some of the blame you know. They maks it so easy. I barely had a BestBuy mastercard with a $1500 limit, used it two months and paid it off. They increased the limit to $3000 without me doing a thing. Then they give a regular BestBuy card and uo the linit on it to $4000. ok. I don't feel guilty about filing bankruptcy in a few months. I'll be forced to pay everything in cash for a few years.

It's ok man, calm down. I'm not upset anymore about it. Maybe this time I'll learn my lesson about credit cards. I did the same thing back in 1997 with allot less debt and a crappy car with too many miles and $19,000 owed on it.
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You'll "learn your lesson about credit cards" after people who actually pay their cards on time pay for your stupidity. I don't know how you could do this? What was going through your mind when you bought and just kept buying? Plastic money, that the credit card company gave you, so you can just blame them later? Have fun filing for bankruptcy, hope you never get another car or house. Sorry for the rant, but this is why the country is the way it is...
 
Demosthenes X said:
$400 000? That's a lot of schooling! But at least that's an investment in your future, and not something that's going to depreciate.

Still... ****!
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lol. Yeah, it's kind of hard to grasp. Kinda just feels like Monopoly money. I'm really looking forward to the day when it's all paid off, not only to have that burden relieved, but to say that I DID IT, with zero assistance from Mom & Dad, with only my spouse by my side.
 
Me and the wife currently have just over one years worth of savings. We are still building it up. When I say one years worth, that would be for my important bills, mortgage, electrical, gas etc. If it came to that point a lot of stuff would be cut to "0"! But I like having the cushion.
 
hexonxonx said:
I don't have any. I have over $25,000 in credit card debt that I really can't afford and will be doing the bankruptcy thing in 2009. It's basically all those Macs that I bought that I couldn't afford, Mac Pro, iMac, MBP, MB. It's easy to buy but when the bills start coming in and some of them are nearly $100 for the minimum payment and high interest rates such as the Juniper Visa, Bill Me Later and Gap card, well it gets hard. I gave up paying them back in September.

"Maybe" in a few years I can start saving. I guess I'm the typical spend it before you get it American. 😱
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you know i want all those goodies too but i know what i can afford. however, thanks to actions of individuals like yourself, this economy has tanked.

hexonxonx said:
I am working two jobs already. I also have a mortage and a car payment.

I sold the MBP and MB last summer. There is such a thing as bankruptcy for a reason you know. When you have too much debt it's there to get rid of it. Credit card comapnys gotta share some of the blame you know. They maks it so easy. I barely had a BestBuy mastercard with a $1500 limit, used it two months and paid it off. They increased the limit to $3000 without me doing a thing. Then they give a regular BestBuy card and uo the linit on it to $4000. ok. I don't feel guilty about filing bankruptcy in a few months. I'll be forced to pay everything in cash for a few years.
Click to expand...

credit card companies share part of the blame? please. its your fault

stop treating credit cards as free money. if you treat it like a checkbook you wont get in trouble. do people not realize that buying things on credit doesnt mean its free? seriously im sorta appalled

yg17 said:
No, credit card companies don't share the blame. Just because you have a high limit doesn't mean you have to use it. I have a Visa with a $10,000 limit and another one with a $4,000 limit. You know how much credit card debt I have? None. Not a single penny. Chase probably hates me because I rack up rewards points and haven't given them a dime in finance charges. It's called personal responsibility.
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same here. i make it a point to pay off in full every billing cycle. theres no exucse for raking up cc debt and them blame the cc companies due to his actions

cantthinkofone said:
YOU are the reason why the world is in an economic melt down.

Charge charge charge.

Racking up debt that is 3-5x your annual income.

People buying a 500k house when they make 30k.

Everything is bought on credit.

Bestbuy wasn't going to send their thugs afer you if you didn't max your card out every month.
Click to expand...

so true

i wont lie, im pretty pissed at individuals like this who because of no fiscal responsibility are the major cause of this economy tanking when i have no debt other than school loans which im paying off. why should i have to be penalized as a result of the really crappy judgement made by millions who do not have any idea on what they can afford. such is life but still, the thought has occurred numerous times
 
I got bank...

I'm a senior in high school, work at a fun job where i get to learn and do stuff no other kid my age gets to do. I pick my own hours and get $12 an hour. I basically get to make stuff out of metal, machine does the work. I'm there to make sure the machine (The machine i'm using now is worth like $100,000) does it's job and the drill bits don't break. Then i file the parts and make sure they fit PERFECTLY with all the other parts...

And then in the spring i'll be doing car detailing as well. $50 a car, and it takes me about 2-3 hours to do the car. I have a HUGEEEEE market for it, so i might hire one of my friends once it's spring. I focus on 2 areas, where they are retired, and not rich, but extremely well off (www.delwebb.com)

$50 + tip a car. 200 cars and that is $10,000, and the tip covers supplies.

College is paid for already.
Car is paid for.

Life is extremely good for me right now. Only thing that sucks is that it is winter, and i miss driving my car. 🙁 When gas was $4 a gallon I wasted so much because i loved driving aimlessly around.
 
yikes, im scared to get a credit card when i turn 18 now. i'll probably just get a gas card to build credit.

im about to open an ING direct orange savings account also.
 
Funny replies 😀

I have:
Halifax Account (17+ one) £20
Lloyd's TSB .02p
Warka Bank $150 & 400,000 Iraqi Dinars
Cash (Not yet deposited £100 & 180 EUR
 
br.avery said:
yikes, im scared to get a credit card when i turn 18 now. i'll probably just get a gas card to build credit.

im about to open an ING direct orange savings account also.
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There's nothing wrong with a credit card if you have some common sense.
 
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