Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 11-04-2014, 11:22 PM   #61
Dryer sheet wannabe
Join Date: Mar 2014
Posts: 23
When I was finishing grad school, my aunt sat me down and taught me the "envelope system" of budgeting. I took it to heart, which enabled me to manage my money and even save on a very limited income. In the late 80's, I was taking home $800 per month as a speech therapist(making about $1000 per month. Was thrilled when I got a job in the school district and doubled my salary!!

I needed the structure this system provided and still use the concepts today. Instead of envelopes, I use many sub saving accounts at my credit union, but its the same strategy.

I had no idea about retirement savings, but learning to live well within my means was a huge lesson. All my other friends had credit card debt as the norm and were always broke.

PandaBear is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-05-2014, 05:36 AM   #62
Thinks s/he gets paid by the post
Huston55's Avatar
Join Date: Jul 2011
Location: The Bay Area
Posts: 1,284
Originally Posted by gauss View Post
"When looking for a wife, look for one with at least as high as education and earning potential as you. Twice the income will make a world of difference in your life."

Spoken by the father of a college friend from the dorm while we visited their home for dinner and "a gin and tonic in the living room with the boys" during a cross country road trip. I will always remember that phrase, and the associated advice.

I took the advice (the candidate already fit the profile) and it has worked out very well for us.

Hmmm, what's your wife say?

Did she use the same criteria?

You may be whatever you resolve to be.
Huston55 is offline   Reply With Quote
Old 11-05-2014, 09:56 AM   #63
Full time employment: Posting here.
Join Date: Sep 2012
Posts: 680
Don't take any wooden nickels.

Sent from my iPad using Early Retirement Forum
If you live to a hundred, you've got it made. Very few people die past that age. George Burns
gcgang is offline   Reply With Quote
Old 11-05-2014, 11:16 AM   #64
Thinks s/he gets paid by the post
sengsational's Avatar
Join Date: Oct 2010
Posts: 2,836
My Dad told me to look closely at how your girlfriend's mom operates in her relationship with her husband (if you don't like what you see, then you better think hard about continuing).

Part of that advice was to examine how happy the girlfriend's parents were with each other, and frankly, a glipse at how the girlfriend might look at a later age. But also within that advice was to look at if the prosective future in-laws were showing signs of money strife. Bad sign. Was the couple competing in how much they could spend on toys? Bad sign. I guess it's just a reminder that "the apple don't fall far from the tree".
sengsational is offline   Reply With Quote
Old 11-05-2014, 12:43 PM   #65
Thinks s/he gets paid by the post
sengsational's Avatar
Join Date: Oct 2010
Posts: 2,836
Originally Posted by Walt34 View Post
Yup. A bill comes in, I sit down and write a check, put a stamp on the envelope, it goes out the next day. Works for me.
Same with me, except it's logon to my bank's billpay, type the amount and date to pay and hit enter. So best of both worlds, methinks...having the bill off my desk, but getting a little float.

Back when working, I'd let the bills pile-up during the week and pay them on the weekend. But now, I have time to keep my desk clean
sengsational is offline   Reply With Quote
Old 11-05-2014, 01:25 PM   #66
Thinks s/he gets paid by the post
Options's Avatar
Join Date: Jan 2008
Location: Los Angeles but not for long
Posts: 1,372
Learn how to make money while you're sleeping. I did. I have. I am.
Options is offline   Reply With Quote
Old 11-05-2014, 01:27 PM   #67
Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 1,539
Originally Posted by RonBoyd View Post
DVDs? They still make those?
I actually still rent DVDs every so often from a rental shop.

Must be the last one in Europe.
Totoro is offline   Reply With Quote
Old 11-05-2014, 06:07 PM   #68
Dryer sheet aficionado
Join Date: Aug 2006
Posts: 33
my uncle taught me that there are two ways to make money. One is to work for it, the other was have your money make more money for you.
DektolMan is offline   Reply With Quote
Old 11-06-2014, 03:05 AM   #69
Recycles dryer sheets
Dd852's Avatar
Join Date: Jul 2013
Location: Hong Kong
Posts: 122
When I was in my first "big" job, my boss pulled me aside and said "Always have a f&&k off fund". So I started!

He retired a couple years after that at 46 when he didn't get the promotion he wanted - he had some really happy years doing what he wanted before sadly dropping dead at 60.

By his words, his happy ER years, and his tragic reminder that none of us can script our own endings, he was a true inspiration to my own escape at 52.

Sent from my iPhone using Early Retirement Forum
Dd852 is online now   Reply With Quote
Old 11-09-2014, 03:58 AM   #70
Full time employment: Posting here.
Join Date: Aug 2008
Location: Romney, WV
Posts: 671
Early in my career, I moved in to management. When the CEO of the small (at that time) company I worked for gave me my first bonus check, he also gave me the name of his broker and suggested I call him and invest a small amount in the market. He also told me not to worry about how little I had to invest at that point, just get started. I was a bit wary of calling but ended up being treated very well and learned a lot about money. I still have an account with that broker (although it's now his son that I deal with 98% of the time).
davemartin88 is offline   Reply With Quote
Old 11-09-2014, 05:40 AM   #71
Full time employment: Posting here.
Join Date: Apr 2010
Posts: 978
-take care of the pennies and the dollars will take care of themselves

-it is not what you earn, but what you keep.

brett is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
What is the worst financial advice you have received? David1961 FIRE and Money 102 06-23-2014 08:48 AM
Itchy throat, cold followed by months of cough Moscyn Health and Early Retirement 19 09-08-2013 04:33 AM
Extreme saving followed by extreme ER Sam Other topics 32 10-07-2010 08:38 AM
Best money advice you've ever received? David1961 FIRE and Money 85 10-15-2007 11:15 AM
Do you think that the folks that followed Hitler were truly unique human beings? Cut-Throat Other topics 92 05-28-2006 08:57 PM


All times are GMT -6. The time now is 01:37 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.