Your spending habits and financial outlook

Do you keep a budget?
I keep a leger in a spreadsheet program on my computer, but at this point it's less a budget and more a suggestion. It's sobering to figure out where my money goes each month, especially with my current attitude towards spending money.

Do you live above or below your means?
At this point I'm certainly living above my means. I didn't have much in the way of money or possessions growing up, so after I got my first "big kid job" out of college I started spending money on a lot of the stuff I could never afford. A number of years later, I'm only just starting to come down from that, though with each purchase I'm becoming more and more aware of how much farther into the red I'm putting myself.

Are you saving for retirement?
I have made it one of my goals to open a Roth IRA for myself by my next birthday. I still have a bit of time yet before the deadline for this to happen. Other than that, I'm not currently saving for retirement, though I know I really should be.

What savings goals are you working toward?
Currently my only real goal that I'm working towards is building up my emergency fund. I'm currently at a month of paychecks post-tax, my goal is to get that up to 3 months and then 6.

I have a checking account through a separate bank that I want to start filling up with "slush fund" money that I can use for non-necessary "for-fun" purchases. Putting a few bucks in there a month should be higher up on my list of priorities.

I want to start investing, but I'm a bit scared and intimidated by everything I need to know just to get my foot in the door without just throwing my money away.

Other than that, my big goal is to get my credit card paid off in full - this is another goal that I have by my next birthday.

What is your biggest financial worry?
I lived for years in financial worry - wondering where my next meal would come from, trying to figure out which bills I can pay to avoid shutoffs, etc. These days I'm much more comfortable, though my lack of emergency fund as noted above is a bit... worrysome.

How would you cope financially if your business failed?
I'm not too worried about this - the sort of tinkering that I do in my day job is high enough in demand that I could fairly easily find another job if I needed to. I've actually been prepared for this for several years, as my company has made some questionable decisions in my tenure here.

When was the last time a lack of money stopped you from doing something you wanted to do?
It's been a while - I don't live so far above my means that I can't afford to splurge on things if I wanted to. My issue is that I 'want to' entirely too often.

What's one thing you'll always splurge on, no matter what?
I have a couple of hobbies that turn out to be more expensive than I anticipate - one that I talk about on here a lot is bowling, which can get very expensive very quickly. Another is food - there's no quicker way to drain my bank account than to give me access to high-quality (and high-price) ingredients or foods.

If you came into a sudden windfall, what would you do with the money?
I'd pay off my various debts, starting with the smaller ones (car payment, cell phone finance, personal debt, etc) and then I'd split the remaining money between my student loans and stashing it away in some sort of low-risk investment fund.

What did you buy your family for the holidays?
My family doesn't really buy each other stuff (see above about not really having the means). We mostly just enjoy each others' company. My partner and I bought each other more practical gifts - I bought them a set of cookware and a laptop battery, they bought me some bowling-related stuff.

From a financial standpoint, how do you feel when you think about the future?
Realistically I need to start being more careful with my money - it's not an infinite resource and I really should stop treating it as such.

How much cash is in your wallet right now?
Up until a few nights ago it was just a few dollars plus my emergency $20 that I always keep on me (you never know when you'll wind up at a cash-only place). Now it's just the emergency $20, since I gave a buddy some gas money to come and hang out with a group of friends. I prefer to charge things to my credit card for much the same reason that @cynthetiq mentions above - more useful than carrying cash, etc. I just need to get the CC bill paid down enough to where I can pay it off completely every month.

 

Do you keep a budget?

No need, really.

Do you live above or below your means?

Well below.

Are you saving for retirement?

Yes

What savings goals are you working toward?

Retirement

What is your biggest financial worry?

Healthcare during retirement.

How would you cope financially if your business failed?

Guess I'm retired, ... again

When was the last time a lack of money stopped you from doing something you wanted to do?

Been a few decades. Realistically, we have have lower middle class upbringing and expectations, with an income that exceeds that.

What's one thing you'll always splurge on, no matter what?

We eat well and stay as healthy as possible.

If you came into a sudden windfall, what would you do with the money?

Invest it, possibly retire, share with daughters.

What did you buy your family for the holidays?

The ability to visit us.

From a financial standpoint, how do you feel when you think about the future?

Healthcare is a huge uncertainty/

How much cash is in your wallet right now?

$500, daughter is visiting, ex has been iffy about child support, and I wasn't sure if she'd need help or not (she didn't).

 

Wow, well I live basically paycheck to paycheck.
Spending habits? Cigarettes, alcohol and gifts or needs for my loved ones.
No budget just don't need one.
I seem to have the money I want to do the things I want.
" I got 20$ in my pocket and going to buy me some clothes. "

 

Do you keep a budget? No
Do you live above or below your means? Below
Are you saving for retirement? Yes
What savings goals are you working toward? Nothing
What is your biggest financial worry? Running out of money
How would you cope financially if your business failed? It would probably be no different. I wouldn't want to start up a risky business that took a large investment anyways.
When was the last time a lack of money stopped you from doing something you wanted to do? I want to buy a Tesla, but I don't have that kind of money.
What's one thing you'll always splurge on, no matter what? Apple products
If you came into a sudden windfall, what would you do with the money?
What did you buy your family for the holidays? We bought our own presents last year. I got an ecobee 3 thermostat.
From a financial standpoint, how do you feel when you think about the future? If we had universal healthcare and a basic income, I would feel just fine. I have enough to survive for 5-10 years or so.
How much cash is in your wallet right now? $35.

I have a complicated relationship with money. I wish I had a better control over monitoring how much I have and the spending I do. Mint should be the solution, but it doesn't seem like the banks work well enough with it all the time. I should be investing more, yet it is too much work and seemed like too much of a gamble. Plus I thought that most of the companies were overpriced in 2012.

I am in this weird place with money. I have enough that I don't worry about it like I used to, but I don't know how my life would change by making more money. The only way I see my life changing is if I make a lot of money ($1 million+ in the next few years). And when I have no clue how much I will make this year let alone a plan to make millions besides the lottery, that may be tough. It's why I am not impressed with the stock market, as I see it as a greater chance to lose money than actually make a lot to make a big difference. Making $30,000 in the market might be nice, but my life isn't going to change. Losing $15,000 would be a lot worse.

The next part is that most of my friends are poor. And while I am glad that I don't have to worry about spending $5 at lunch or $10 more for things at the grocery store, it was starting to be where I was in a different place financially than them. I still have the mindset of a poor college student, but I don't have to work overtime or worry about every dollar anymore.

And I won't get into the part where I figured that when I got a job, I would find a girlfriend. But since that didn't happen, I think there are bigger issues to deal with than working and making more money. What is the point of the money? Free time and experiences are more important than anything I can buy (without getting into the next tax bracket). So we will see what happens in the next few years.

 

I am living in my means.
I don't carry cash
I do have savings
I also have cash in a shoe box for emergencies.
I also stock food and supplies
Keep my gas tank full
And over pay my utilities