FI forums for Simple People

[finnski1]

I go 20% unless we hog the table by drinking longer then I tip more. But dang, I really struggle on paying 20% tip on sales tax. I begrudgingly do it, but dont like it. It seems like its tipping a tax.

I don't calculate my tip on the full total. I always calculate the tip pretax. So $100 bill $10 tax. My tip $20, not $22.
If it is a small bill like breakfast I tend to be even more generous than the 20% but still based on the pretax number. I don't see paying a tip on the tax either.

 

[braumeister]

I don't calculate my tip on the full total. I always calculate the tip pretax. So $100 bill $10 tax. My tip $20, not $22.
If it is a small bill like breakfast I tend to be even more generous than the 20% but still based on the pretax number. I don't see paying a tip on the tax either.

Yes, exactly. When the tax is substantial I also balk at paying a tip on it.

And if you get your phone out when the bill comes (like when using Apple Pay) it's simple to put the pretax total in your calculator to figure the tip.

I've also noticed that sometimes when a server hands me the machine to insert my credit card, it offers various levels of tip that are pretax, not on the total. A glance at the calculation will confirm that, and if it's actually including the tax you can just put in a custom tip amount.

 

[Amethyst]

Nobody knows how many of the big spenders are in debt (other than infamous ones, whose finances become interesting to the IRS, the press, etc.), and it doesn't matter either way.

Don't compare yourself with them - compare yourself with yourself, and LBYM/save and invest the rest. Buy the used book!

Good.

Back in Post #68 @HI Bill recommended the book "Millionaire Next Door." I'd like to underline that.

In fact, the people with the fancy cars, huge house, etc. often are not rich at all. They just spend every dime that comes in or that they can borrow.

 

[Gumby]

À chacun son goût. I always just double the total, including the tax, and move the decimal point over. Quick and easy to calculate, and no harm in being generous. On the rare occasions I'm paying cash, I round up to the next whole dollar.

 

[MC Rider]

Some interesting stories some of you have.


I graduated college in 1981 with no money and a student loan debt, which as it turns out was a lousy time in the economy. Had a hard time finding a job with my Biz Admin degree, and finally ended up selling shoes on S State St in Chicago. Didn't like that and moved on. Had 7 W2 forms at the end of 1982. Finally landed a steady office job which paid just OK. Paying on the student loan and going into more credit card debt, not saving.


Come 1987 got transferred to Los Angeles, and arrived with no vehicles, about $1000 and several times that in debt. Eventually ran into problems paying on the debts. Borrowed money and settled them and paid that loan off. Stuck with our cheap azz ways (frugal? LOL) and stayed in the little rental house for 15 years. The money piled up after a while and when the market was down in 2010 bought our house which has more than doubled in market value, which is crazy.


Our 401 and IRA accounts have done well but we have more equity in the house at this time. Maybe we can retire one day not too far down the road. I never used to think it would be possible. Not rich, but not poor. Fine with me, I never cared to be rich. Just wanted to have fun and still do.

 

[NW-Bound]

Does anyone know of any online forums where the majority of the members are people like myself who are Low Class or Lower Middle Class who would like to try and obtain FI?

In my Google search, I have only found forums like this one and others that are geared more for Rich people. Thanks for your help.

Don't let the BTD ("Blow the Dough") thread scare you. It's the effect of the recent bull market.

You should have come here at the time of the Great Recession of 2007-2009. We were commiserating about money loss (misery loves company), and some posters regretted leaving work. Fun time!

 

[NW-Bound]

Yeah, but some people are simultaneously rich and [-]frugal[/-]cheap.

"Frugal is how you treat yourself. Cheap is how you treat others." - Andrew Tobias

 

[NW-Bound]

l buy all of my clothes at Target, Kohl’s and Costco. I live in an 1800 sq ft tract home...

You buy your clothes new? You are rich.

Only my underwear...

Heck, I still remember there were many threads about "going commando". Perhaps some posters could not afford them.

I learned that phrase from this forum.

 

[skyking1]

My best Mexico vacation uniform consisted of 4 pieces. Left flip-flop, right flip-flop, T-shirt, and shorts. I had to watch how I seated myself

 

[RobbieB]

I tip 20% on take outs, just like before covid when I could sit down.

 

[teetee]

One thing I would work on is never underestimate the power of simplicity.

I think 100% on all investment in the total stock index fund, automatic contributions to both taxable and tax advantaged retirement accounts, and no debt will free up ones mind and just let the time and the compound interest to do their jobs, is the best strategy and you can't go any simpler than that.

 

[ivinsfan]

No I am still here. No worries on the thread drift. It's all good.

Late last night my wife and I read every post from yesterday. We even jotted down some advice and "tips" (no pun intended). It was very encouraging to read how others have overcome substantial obstacles to get to where they are today. We plan to read today posts this evening as well.

Being an older guy I am not as good as I use to be in conveying my thanks. Please know that I appreciate you taking the time to respond to my question and the very beneficial advice you have provided us.

Well with all the goofy talk about underwear, Goodwill and the never ending problem of how much to tip, you see that we are all simple people...so I guess we were what you were looking for all along.


Come on in the water is fine...

 

[skyking1]

That's how millionaires next door and not-quite millionaires next door roll

 

[RetiredHappy]

I tip 20% on take outs, just like before covid when I could sit down.

+1

 

[skyking1]

I also tip with cash most of the time. I figure less meddling is more.

 

[Yoheadden]

I second that recommendation. It was the first real book on FI that I read and enjoyed it very much. I don't think the principles will ever be outdated.

+1
I still keep a copy, just as a reminder of the principles and flip through it occasionally.

I don't calculate my tip on the full total. I always calculate the tip pretax. So $100 bill $10 tax. My tip $20, not $22.
If it is a small bill like breakfast I tend to be even more generous than the 20% but still based on the pretax number. I don't see paying a tip on the tax either.

+1

 

[racy]

Gumby, just amazing how far we all have come. Life could have gone south pretty easy for any of us.

Amen, brother! Luckily didn't get anyone pregnant back in my youth. Mom always warned me before I left for a date that I had a "loaded pistol" in my pocket

 

[harllee]

OP--I hope you will stay on this Forum. But if you want to also look at a Forum where there are folks with smaller net worths you might check out Mr. Money Mustache Forum. Some interesting discussions there.

 

[Stashu]

Simple is Good

Money is human happiness in the abstract: he, then, who is no longer capable of enjoying human happiness in the concrete devotes himself utterly to money. - Arthur Schopenhauer

 

[Sunset]

Amen, brother! Luckily didn't get anyone pregnant back in my youth. Mom always warned me before I left for a date that I had a "loaded pistol" in my pocket

Sad.... My Mom said I was carrying a loaded Rifle

 

[Amethyst]

To say nothing of what your dates' parents warned them about!

My dad always warned me that he had been a terrible young man, and that all of them were just as bad. He was not, fortunately, completely correct

Amen, brother! Luckily didn't get anyone pregnant back in my youth. Mom always warned me before I left for a date that I had a "loaded pistol" in my pocket

 

[racy]

Sad.... My Mom said I was carrying a loaded Rifle

touche!

 

[RobbieB]

When I started dating in high school, Pops advised me;

"Son that thing between your legs can get you into more trouble than you can believe"

 

[travelover]

When I started dating in high school, Pops advised me;

"Son that thing between your legs can get you into more trouble than you can believe"

I heard, "It's a downspout boy, not a compass"

 

[ArmchairMillionaire23]

Does anyone know of any online forums where the majority of the members are people like myself who are Low Class or Lower Middle Class who would like to try and obtain FI?

In my Google search, I have only found forums like this one and others that are geared more for Rich people. Thanks for your help.

My wife is a teacher and between the two of us we only gross around $75,000 per year. I love this site and have learned so much. Like others have said, you can learn a lot from people who have been successful in something you are attempting to do. (Early Retirement)

While some people on this site earn $100K, $200K or more a year there are others like you and I who hang out in the 12% tax bracket and are happy to be there.

Enjoy the journey to Early Retirement, however many steps it takes you.