Do you find it easy to save?

[FIYes]

While I am not a mega saver like some here---I find it very easy to live a frugal lifestyle. As others have said--time is far valuable than money. I would rather have FI than a bunch of stuff.

 

[rogersteciak]

I like to "spend money" on income-producing assets such as dividend-paying stocks. Once my rising stream of dividends is way more than what I need to LBMM, I might then consider using some of that surplus dividend income in a way that raises my standard of living.

I prefer having the peace of mind that comes from not having to worry about the job market and general economy to buying stuff I can definitely live without.

 

[knockoutned]

I would have trouble spending all of my monthly salary. I think it helps that I'm single, don't have a car, and don't like owning lots of stuff.

 

[Rivrider]

I agree with w2r and khan. Savings buys time. Have pretty much all the stuff I need, so being able to RE is more important.

 

[haha]

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?

I don't know about a lot of people, but I had to do mental tricks on myself to save, because I like things and experiences that I can buy with money.

Ha

 

[bbbamI]

Saving money has never been a problem for me. DH on the other hand.......

 

[sarahsays]

I find it difficult to save. I have no debt and yes, I have set aside a good-size chunk for retirement considering my age, but most of my friends want to eat out, go to concerts, go on vacation. And I worry that I'll regret saying no to those things (because I do want to go) just so I could save more. So I continue saving 15% in 401k and maxing my Roth for now.

 

[RetiredGypsy]

I never considered saving until a couple years ago, but now that it is something I am interested in it has been easy to make the switch to saving. I'm also learning to be wiser with the money I am spending, allowing me to balance quality of life and retirement goals.

 

[citrine]

I have automatic withdrawals set up which really helps me save.
I use the rest for bills and if I feel like spurlging....I save for it or get a pt babysitting gig.

 

[Singleee]

I could save about a further 10% of my salary, or I could easily spend 30% more. As it is I have found a reasonable balance that suits me, about 50%.

One can always earn more money but time is irrevocable. It is an unfortunate fact of life that for some, the delayed gratification is never realised. Life is short so don't miss out on too much.

 

[Rambler]

We save a lot, somewhere over 40% of gross, some years higher if the bonus is good. Being quite nicely compensated allows for that, since we are basically frugal but do enjoy travelling to Hawaii a couple times a year (at least once is on accumulated air miles, so I don't feel guilty about that). I just got my wife a nice new handbag from a famous brand, but got it at about 65% off the retail price, and she waited a good long time for it. I am no longer interested in brands, except for the brands that my stocks carry. I'm much happier buying shares than I am in buying the latest toy. I do want an RV or travel trailer sometime in the future, when we move back stateside. Saving? Yep, pretty easy...Dow we spend? Yep, when we really want to.

R

 

[saluki9]

It never was right up until I bought my house.

Now it feels like my house runs on hundred dollar bills.

We're still managing to save 25-29% of gross, but it's much more of a fight than it used to be.

 

[unclemick]

I don't know about a lot of people, but I had to do mental tricks on myself to save, because I like things and experiences that I can buy with money.

Ha

I repeat myself - thirty years in New Orleans. Let's see if they have combat pay for war zones - do they have party pay for living thirty minutes from the French Quarter??



heh heh heh - Blondie is homesick - Boudreaux's Louisiana Seafood north of here tonight - in the old days would have eaten cheap all week to save for the splurge - but cheaper early ER has and low core budget provides wiggle room.

 

[vt74]

I was very good at saving...thus i had my school loan and mortgage paid off before I was 30 yo. Now that I have some rental and almost paid off...it is easier for me to spend as i fool myself to think that it is not my money and it ok to buy with renters' money. .of course after paying the mortgage and rental expenses.

 

[NW-Bound]

I repeat myself - thirty years in New Orleans. Let's see if they have combat pay for war zones - do they have party pay for living thirty minutes from the French Quarter??

I thought you live IN the French Quarter.

 

[unclemick]

I thought you live IN the French Quarter.

Nope. 14 hrs 28 minutes from my driveway per Map Quest. Moved a tad inland after Katrina - on a hill in Missouri.



heh heh heh - Only two trips back this year - trying to break the habit.

 

[popowich]

Yes, in fact I increased my 401K contribution rate 2% today and added an extra $50 to the automated debit from my checking to my savings account that happens after each paycheck. I won't miss it, and every little bit helps!

-Raymond

 

[Eagle43]

All my dividends get re-invested. So far, anyway. Saving (LBYM) defeats being poor. I have, as the say goes, "been there, done that."

 

[Walt34]

I know some people that absolutely can not control their spending under any circumstances. I think they missed out on the frugal gene, just as I missed out on the spending gene.

DW and I wonder about those people as well. One couple we know is in their late 50s and are $500k in debt. He's a carpenter - apparently a very good one and is paid very well - she just retired as a math teacher. That's the part that astonishes me. She MUST know what they're spending on interest payments! But they "gotta" have their expensive trips and baubles and when they get the "I wanna..." they just charge it and have pulled all the equity out of their home to repeatedly pay off credit cards.

Absolutely incomprehensible to me.

 

[Puzzley]

We found it very difficult to save, especially in the early years when we were a lot more worried about where the next weeks groceries were coming from rather than saving anything. As I went from farming (a deficit) to corporate work (a surfeit) we became able to save, and the best way for us was to have it deducted before we ever saw it. I have participated in every possible retirement and savings vehicle my employer offered, and have tried to absolutely max them out, since we had to do so much catching up. So, as my income increased, we tried to not spend the increase, and save it, constantly increasing our contributions to various plans. As an example, we have saved EVERY bonus I have ever received in this manner. It has enabled me to FIRE (4 more months to go), although not really very early. I'll be 64 in January...

 

[aida2003]

So far it's been easy saving. We'll see how things will change after I deliver the 2nd child. I'm not looking for school age when kids experience strong peer pressure for consumerism and how we'll manage to teach/explain otherwise .

It was easy to save because my spouse and I canNOT stand shopping. We just despise it. I get stressed out if I need to go to a department store. But I'm OK to go to Goodwill once in a while to see what clothes I might get for kiddos .

But we do budget for vacation because we like traveling. So we rather spend for experiences vs. material things unless it's necessary.

 

[ikubak]

I find it almost impossible NOT to save. It's almost a compulsion and I just wonder what I will be like when I retire. In retirement, I won't have any income to stash away and it might take me a while to adjust to that. Currently DW and I save about 20% of our pretax income and that goes into retirement accounts. We save about 20% of our take home pay as well.