Money- weird or not?

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's for the details.
But don you think your income will change over he course of your life? I guess you adjust it when it does.

It's easy for me because my first goal in life is saving for the day I don't need to work anymore. Any increase in income gets 50-75% squirreled away into the 401k or a savings account so I never see it. The other 25-50% magically appears in my bank account the day after payday and if I want to spend it on shoes, why the heck not?

Me too. We save 40% of our net income because we have the same first goal as you do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That's for the details.
But don you think your income will change over he course of your life? I guess you adjust it when it does.

It's easy for me because my first goal in life is saving for the day I don't need to work anymore. Any increase in income gets 50-75% squirreled away into the 401k or a savings account so I never see it. The other 25-50% magically appears in my bank account the day after payday and if I want to spend it on shoes, why the heck not?

Me too. We save 40% of our net income because we have the same first goal as you do.

I bet your life sucks, do you vacation? Hope you don't die before enjoying it.

[Anonymous]

why save so much? you could die tomorrow.

[Anonymous]

You should check out mint.com. You link it securely to your bank accounts and credit cards, and then you don't have to do the inputting and sorting work. It'll sort all your expenses (except what you buy in cash), and you can set budgets and notifications for when you go overbudget. Super easy.

[Anonymous]

OP - we're 35 and HHI is $250k and I get where you're coming from. Before I got married I used Quicken but didn't really have a "budget" because I live well below my means and there was always plenty left over.

Now that I'm married, I wanted to have a joint account that we contribute to proportionately. For example if our monthly expenses are $3000 and I make 2/3 of our take home pay, I contribute $2000 a month and DH contributes $1000.

To do this, we made a budget in Mint - basically pay for everything with a credit or debit card. Once a week or each month check that it categorized everything correctly. Then after 3-4 months it will tell you what your monthly average income and expenses are. Then you can adjust your budget if it is out of line with your goals.

[Anonymous]

OP, I think you are luckier than you realize. I'm jealous.