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View Poll Results: Do you find it easy to save?
Yes, I have no problem saving a large % of my income. 79 90.80%
No, I have to work hard to save for retirement. 8 9.20%
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Do you find it easy to save?
Old 07-22-2008, 12:02 PM   #1
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Do you find it easy to save?

My impression is that most of the people around here are not very tempted by material things, and find it easy to save money. Recently FireWhen said "I REALLY HATE TO SPEND MONEY," and that seems to be a pretty common attitude here. Are there a lot of people who've had to work hard to save a large percentage of their income and not spend most of what they earn?
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Old 07-22-2008, 12:18 PM   #2
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I used to find it relatively easy to save. Now that I have two small children and a very demanding job, the money flows more easily than it used to. In part there is simply a lot more expense with twice the people in the budget.
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Old 07-22-2008, 12:21 PM   #3
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Yes. In fact, I've grown increasingly tight with my money that I have to convince myself that it's okay to spend a little and there to enjoy life today. I don't want to be so miserly that I put everything away for the future and die or become incapacitated before I can enjoy the fruits of today's sacrifices.
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Old 07-22-2008, 12:33 PM   #4
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I don't really look at it as saving. It's buying time, instead of things (that will get broken or lost or obsolete so quickly anyway).

I get a big charge out of watching my nestegg grow and dreaming about ER.

But then, I live alone. Before my divorce, any money that I managed to save would be used by my ex as a down payment on a loan that we couldn't afford, to buy something 20x as expensive that he might happen to fancy. So, I wasn't very motivated to save.
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Old 07-22-2008, 12:36 PM   #5
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I used to find it relatively easy to save. Now that I have two small children and a very demanding job, the money flows more easily than it used to. In part there is simply a lot more expense with twice the people in the budget.
Same situation here.

For sure, the most painless way to save is to "pay yourself first", and have your savings socked away in accounts that aren't instantly accessible. I find that our spending levels tend to rise to meet cash on hand. When the money never "reaches" us, we don't miss it.
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Old 07-22-2008, 12:41 PM   #6
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Before my divorce, any money that I managed to save would be used by my ex as a down payment on a loan that we couldn't afford, to buy something 20x as expensive that he might happen to fancy. So, I wasn't very motivated to save.
I hope he married my ex. They'll be very happy in bankruptcy together....
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Old 07-22-2008, 12:44 PM   #7
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I managed to save a lot and still be able to travel & enjoy life . Every time I got a raise I upped my standard of living slightly and increased the amount being taken out of my paycheck for savings . It was painless. No big tricks just slow and steady and hope for a bull market .
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Old 07-22-2008, 12:47 PM   #8
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It took a conscious effort on my part to learn to save, and that didn't happen until after my divorce, I bought a house on my own at age 35, and realized that I was 12 years from "normal" retirement. Law enforcement careers are short by most standards, normal retirement is usually 20-25 years. Forty or more years happens, but it's very rare.
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Old 07-22-2008, 01:02 PM   #9
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I don't really look at it as saving. It's buying time, instead of things (that will get broken or lost or obsolete so quickly anyway).
Great line W2R, I'll use that on DH when he gets a wild spending hair!
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Old 07-22-2008, 01:15 PM   #10
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We find it pretty easy to save money. Of course, we don't have expensive hobbies, except for travel. Even when we do travel, it's a game to me to get the absolute best deal possible.

This doesn't mean we don't treat ourselves to things when we want to!

I also view money as a means to more time. Check out my sig.
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less stuff, more time

(49, married; DH 53. I am fully retired as of 2015 (well ok, I still work part-time but only because I love the job and have complete freedom to call off if I want to travel with hubby for work), DH hopes to fully retire 2018 when he turns 55 to access 401K penalty-free...although he may decide to do part-time consulting)
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Old 07-22-2008, 01:16 PM   #11
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I get more satisfaction out of investing money and seeing my money grow than buying something with the money, I don't know why, probably some weird mutated recessive gene. In any case, like everyone else said, I HATE spending money.
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Old 07-22-2008, 01:21 PM   #12
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I find that our spending levels tend to rise to meet cash on hand. When the money never "reaches" us, we don't miss it.
Pretty much sums up our experiences as well (granted we don't yet have kids). Every now and then we'll want some new fun gadget or toy and having less in our checking account makes us at least pause and think about our priorities.

We still have a lot of fun but we just find different ways of making it all work with whatever is available to spend.
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Old 07-22-2008, 01:36 PM   #13
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I don't know... I don't save to the point of sacrifice. So, it's easy to save, but only because I'm fortunate to bring in a lot more than I'd be interested in spending. In the same vein, it's easy to give to charities because of where I'm at.

If I were in a position of self-sacrifice to meet either of those objectives, then it'd be different, I'm sure.

As it is, though, I don't like spending money on many things that I'm "supposed" to, but I do like spending money in things that are important to me... but I don't go out of my way trying to convince people that their way is wrong, it's just different.
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Old 07-22-2008, 01:53 PM   #14
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We find it easier and easier to save as time goes bye. When we had kids running around (about a million year ago) it was really tough and I did not even try. After they all got off on their own it became much easier. Got 4 kids and 9 G-kids now and we are now starting to think about how to give them some $$ without them just wasting it.
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Old 07-22-2008, 02:37 PM   #15
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It's very easy for me to save. The hard part is actually spending money on things other than the everyday necessities.
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Old 07-22-2008, 02:43 PM   #16
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Over the years - I used various forms of auto deduct to hide from myself tax deferred and taxible.

Lived on the rest - sinned periodically - credit card balance/fight to pay it off/car payments some decades/etc/etc.

401k/500Index/DCA over a reasonible(76-92) period of time turned out to be the big dog that trumpted all my other legend in my own mind ventures.

30 yrs in New Orleans always found a way to eat, party or fish on the rest - so to speak.

heh heh heh - max auto deduct trumped discipline which came and went over time.
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Old 07-22-2008, 02:57 PM   #17
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Quote:
Originally Posted by Want2retire View Post
I don't really look at it as saving. It's buying time, instead of things (that will get broken or lost or obsolete so quickly anyway).

I get a big charge out of watching my nestegg grow and dreaming about ER.
Basic economics: You sell your time to get money to buy stuff; I value time over stuff.
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Old 07-22-2008, 03:01 PM   #18
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I get more satisfaction out of investing money and seeing my money grow than buying something with the money, I don't know why, probably some weird mutated recessive gene. In any case, like everyone else said, I HATE spending money.
Even though I have enough, I keep looking for ways to save; it's a conditioned reflex.

I have to tell myself to turn on the fan or the A/C.

I hate shopping.
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Old 07-22-2008, 03:05 PM   #19
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Even though I have enough, I keep looking for ways to save; it's a conditioned reflex.
Just curious: were you conditioned by a thrifty parent, or was it self-taught? Is this thriftiness a life-long habit, or something that was consciously developed?
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Old 07-22-2008, 03:13 PM   #20
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I have kind of a hard time spending serious money. I have enough saved up to cover my retirement but I'm having trouble pulling the retirement trigger, so it seems like a logical time to spend more. But it's hard. So many things I might buy end up being a commitment -- for example if I go buy a boat, then I have a boat to take care of. I could buy a new car, but then I have new car insurance to pay. I could buy a Rolex, but I'd just be worrying about banging it up. So I mostly end up saving.

I did manage to talk myself into buying a scooter not too long ago. But that's not much money out, and I'll save on gas

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