Money Management..

[Doobie]

Well as some may know, I have my first job. I am working in McDonalds. It sucks. Okay enough about that, I am having severe trouble managing my money. Someone who is usually broke getting payed around 250+ every 2 weeks is something huge. I have a list of things I need to buy and its goign to take longer then i thought. Why is it so hard for me to manage money. Lately I have been needing to stay away from malls because stores make me want to spend on the spot, and when I'm home I just feel like ordering chinese delievery or Subways or somethings (by the way those Chicken Terriyaki's are delicious). Anyways, is there anyone here who has or had this problem, and if so how did you overcome it. Note** these are the things I'm going to buy.

Cell phone(plus connection)- 225$
Computer - 350$ ( Someone is selling one to my dad at that price )
Disconnect current cell phone - 250$
Cell phone bill for new company - 70$ monthly ( after taxes )
School clothes(1 pair of sneakers, a few shirts and a few jeans)- 200$++
Ipod Video - 300$
NBA 2k7- 30.00$

So far thats all I'm planning on getting before October, Don't know if its possible unlses i work 5 days , 8 hours which is 40 hours a week and I'll wind up with a 350$ paycheck.

[jerry]

that seems like alot of luxury(extra) stuff bug meh what do i know..

[Jing]

haha you working at mcdonalds too..
i worked there during cross country season to make some extra money.

you'll be working a long time before you have money for that...

i say go with a nano.. video raelly not worth it...

[Doobie]

If I can find a nana that can hold atleast 3,000 songs , then I'll buy one.

[Jackal]

I'm a spender as well. I tend to spend a lot of money on a lot of gadgets.

One thing you have to get under control is if you need what it is you're buying & if the price is one you're willing to pay because you know you will make frequent/good use of the product hence getting your money's worth.

Another thing I notice about you is that you work to buy stuff. That mentality will have you broke days after your paycheck cashes. You've got to prioritise. You've got to see which one thing you need most this month (need/want) and then get that one. During the course of that month, enjoy that one product and then the following month treat yourself to a new product. This way you're slowly but steadily getting what you want, but at the same time you're not broke when your friends want to go drinking.

I'd say out of that list, the PC is what I'd go for this month. School clothes the next.

I don't spend casual money. With that I mean people that go to town, see something & just buy it. I can't do that. I plan ahead what I want, how I tend to put it to use and if I'm willing to afford the price tag. Affording it isn't an issue. A few months saving and you'll have enough. But that feeling of "should I have bought it" should never rise by me.

The last thing I bought that costed a lot was my phone, the Nokia 8800 for 500 Euro's. Now I've begun putting aside money, as soon as I reach the 3000 Euro's mark (which ought to take me an estimated 5 to 6 months), I'll have enough for a Mazda 323, Honda Civic or an Audi A3. (Second hand, minimal damage, my brother in law can fix in his garage.)

Yesterday though, I did wish I didn't get the phone/laptop. I saw a Mitsubishi Pajero 98 model + bullbar with a broken tail light and around 150.000KM driven, for a measily price for 3500 Euro's. That's like my ideal car, sure it's a gas guzzeler, but the amount of people you can fit in there, madness.

Anyways, basically you just have to figure out what thing you want most at the moment. Get one of your wanted things & save the rest for later to avoid being broke.

[Joe']

If you're buying an iPod video just because it plays videos then I'm glad to tell you that iPod Nano can play videos too (just follow this tutorial: Link)
If you're doing it because it's 30/60GB then buy a Creative, which has better sound quality and is cheaper (at least I think it's cheaper).
Anyways, I have a question for you all that live in the US: You must have a contract with a cellphone provider to do do/receive calls/send/receive SMS/MMS or are there rechargeable SIM cards like here in Italy?

[Axel]

My way of managing money is just spending as little as possible. I work at a grocery store, and we have this little machine which prints out coupons for various items. Lots of people dont want the coupons, so I pocket them all... built up tons of them. I'm sure I'll find uses for a lot of them soon.

I'd look at your list of things to buy and probably do the following....

1. Go with free t-shirts, and as far as jeans, go to Old Navy (because theirs are the cheapest). $200 for a few outfits? If you're frugal enough (or just smart with your money) you can get more than enough for under 100 bucks....

2. NBA 2k7 you can probably find on the eBay store. Used video games there are usually half off the retail price.

3. That much money for a cell phone is utterly ridiculous. How much longer is your current cell phone contract? Cancelling them is probably one of the last things you want to do... why would you want to change bad enough to pay $250??

[Amphatoast]

Anyways, I have a question for you all that live in the US: You must have a contract with a cellphone provider to do do/receive calls/send/receive SMS/MMS or are there rechargeable SIM cards like here in Italy?

there are "prepaid" phone plans which makes you don't have to commit to anything and sort of use your phone like a phone card- pay when you need to

also you can just get no contract and have service and just stop when you want since there is no contract involved.

and doobie..

1 month of working 40hrs= about $300 a week after taxes times 4 weeks= $1200. Spend $100 on food, entertainment and such and you have $1100 left to add with what you got.

all together you have about $1400 you spending. Work a week or 2 more and you have everything set for September..

that ipod can be cheapened for sure..and the cell phone issue.. thats a lot of $$ involved.. maybe you should reconsider a few things in that department..

[The Other Kevin]

For jeans, go to Steve and Barry's. They're for $10 each, and are durable and still loke okay.

[cyanide]

Save money, always save as much as you can. Once you save up enough to know that you can spend on something big and still have extra money aside (for future saving, then spending, of course ) If you keep spending on stuff like fast food, little pieces of junk, and accessories, in the words of Britney Spears, "this shit adds up."

For food, just go to a grocery store and buy in bulk. You'll have a lot in the long run and save a lot more in the long run.

[mvpshaq32]

Postpone the ipod. It's not that important right now or you could get a loan.

[Old School Fool]

NBA 2K7 is gonna be 30 bux? You're getting the 360 version, right?

[Nick]

I'm not a big spender. I'm not all that materialistic. But sometimes there are things i wanna get. So what i've always done is kept money for nesseceties (i'm 95% sure that's spelled wrong) seperate from money for luxury items. So whenever you get a paycheck. Take out what you think you'll need for petrol, food, weekend money, and other crap, i keep that in my wallet. And put the rest away for luxuries. That's what i'm doing. That way, you've always got money for petrol etc. but also save up gradually to get things you want. (For me that's a new drum kit i'm gonna be saving for a long time though... god damn they're expensive)

It sounds pretty easy right? Well sometimes you have to pay for things, like to fix your car or something, and you have to take it out of the luxury savings.

[Axel]

Also, speaking of saving money, I'm hoping to land one of these to save on gas....

http://cgi.ebay.com/ebaymotors/Geo-GEO- ... 0243QQrdZ1

I already have a fairly nice car, but it only gets 24 mpg, which isnt good enough for me. I figure I can find one of those for 200 bucks in a junkyard (my uncle did) and drive it to save even more money! (they get 40 - 45 mpg)

[Matt]

i'm trying to save up for a trip to Europe this time next year. The way i manage my money is i calculate how much money i can/should put away. It's good to have a timeline for when you want something, so that each month you have a target.

Right now i have to put $300 a month away, + $260 in expenses (bills) and that leaves me with like $100 spending for whatever per month.

So yeah, i advise you come up with a plan and stick with it. My plan is made up so that i'll get my trip money 3 months before i need it, that way i can afford to spend a little extra some time.

[koberulz]

nesseceties (i'm 95% sure that's spelled wrong)

it is, the s and c are around the wrong way, and you need an i not an e. it's neccesities. i'd know. i'm a ve...okay, i won't go there.

as for me, i sometimes buy things whenever i see them, although for the most part i'll work out what i want, and save for it. my parents still buy most of my shit though.

for example, right now i want a Nintendo Wii, XBox 360, SDVR07, and Metroid Prime 3. I stopped all spending (apart from a new memory card for my ps2) as soon as i decided on this, which was around the beginning of the year. apart from the XBox 360, none of that is available until next year, so i should have the money by then, or at least be close enough to at least buy two of them (the XBox is useless without SDVR, as the Wii is useless without MP3).

[J@3]

Can't help you I'm afraid, I'm absolutely terrible with money. I've spent at least $5,000 on CD's in the last year alone. Since my brother moved back my payments have dropped a bit, so out of the money I get 40% of it goes on phone credit, and the rest goes on stuff for my hair/other various grooming things. I can waste money better than anyone alive.

[3P]

I've spent at least $5,000 on CD's in the last year alone.

Do you get every CD that comes out or what?

My way of managing money is just spending as little as possible. I work at a grocery store, and we have this little machine which prints out coupons for various items. Lots of people dont want the coupons, so I pocket them all... built up tons of them. I'm sure I'll find uses for a lot of them soon.

I'd look at your list of things to buy and probably do the following....

1. Go with free t-shirts, and as far as jeans, go to Old Navy (because theirs are the cheapest). $200 for a few outfits? If you're frugal enough (or just smart with your money) you can get more than enough for under 100 bucks....

2. NBA 2k7 you can probably find on the eBay store. Used video games there are usually half off the retail price.

3. That much money for a cell phone is utterly ridiculous. How much longer is your current cell phone contract? Cancelling them is probably one of the last things you want to do... why would you want to change bad enough to pay $250??

Listen to Axel, will save you a bunch of money. Also work 8 hours 5 days a week anyway, because next time you want to spend $1400, you will have a head start. [I don't mean go spend that much again]

Plus as Cy said buy food in bulk, but in Sam's Club or something like that, cause it is cheaper than a grocery store.

[shadowgrin]

in the words of Britney Spears

Britney Spears fan huh cyanide.

when I'm home I just feel like ordering chinese delievery or Subways or somethings

For food, just go to a grocery store and buy in bulk. You'll have a lot in the long run and save a lot more in the long run.

Cooking your own food is cheaper (and satisfying?) than buying delivered foods all the time. You'll save more.

If I can find a nana that can hold atleast 3,000 songs , then I'll buy one.

Why the need for 3,000 songs? As if you can listen to all 3,000 songs in a day? It might just be me but I still don't understand the point of storing 3K songs in portable player when most of those songs won't be listened to even in a day.

I work at a grocery store, and we have this little machine which prints out coupons for various items. Lots of people dont want the coupons, so I pocket them all... built up tons of them. I'm sure I'll find uses for a lot of them soon.

You're a cheapskate and a thief. Worse is that you haven't even used what you've pocketed.

I get 40% of it goes on phone credit, and the rest goes on stuff for my hair/other various grooming things

Damn. I just hope it's worth it for you Jae.

I'm mostly a loose spender on books and Batman graphic novels (hardbound ones). I just bought Batman, and Alchemist Illustrated book a few weeks back, as a result I'm behind on my bill payments. I'm currently in debt of 10,000 bucks. That's why I'm staying away from bookstores for now, because I'm trying to pay my bills and save enough money (also to buy 2 books which I didn't get when I had the money then).

My advice to you Doobie is spend on what you need and not on what you want.
You need school clothes, buy it. You need food, buy it (I still recommend the advice about buying/cooking your own food).
If you don't need it and just want it, get the things you need first and if there's some money left buy what you want.
Of the things you've listed, I would only classify 2 things as needs (for me): school clothes and NBA 2K7. (2K7 would belong in the category of both needs and wants )

[J@3]

Do you get every CD that comes out or what?

Not too far off it... they have a huge range at the CD shop I go to. I'm trying to get entire back catalogues for every band I like.

[Cloudy]

Just to share my experience, you really really have to becareful on how much you spend on food. It may sound funny, but I spend more than 70% of my allowance on food... Sometimes you just can't resist!

[Jackal]

It's easy to resist. What's there to eat out there? McDonald's? Makes me feel sick. KFC? I almost always throw it up in their own toilets. Burger King? I feel like I'm being weighed down by the food. That's basically it. Chinese? Very very greasy/oily. Indian? Too spicy. Italian? Not much taste. Pizza's? I'm yet to find a decent pizza joint in Holland, even Pizza Hut sucks monkey nuts. Curacao Pizza Hut > Holland's. The only food I do buy is BBQ'ed ribs from Rijswijk. Best ribs I've ever eaten. That also happens like once a month.

So yeah, if I'm hungry enough, I look up a Subway.

I did spend quite a bit today though. I bought lunch for my sister (aren't I a sweety pie?), I bought bird seeds, I got fined 20 bucks for not stamping my train ticket (was too late to jump out, bastards) and I bought three Special Edition DVD's. I bought Reservoir Dogs Two Disc Special Edition (Steelcase), A Dog Day Afternoon Two Disc Special Edition and Lock, Stock & Two Smoking Barrels Two Disc Special Edition.

Damn the tram conductors too by the way, damn them all to hell. I was just seconds too late to jump off.

[Cloudy]

Sounds like you're picky about foods. I am not, I eat anytime at any chance... I like to try new stuff and it's hard to resist when I'm taking SAT class in the same building as a shopping mall.

Or it really depends how much food costs at your country. How's it there in Holland?

[Jackal]

Fast food I think is the same everywhere. Cheap.

Food is expensive if you really go sit down with your family and have a dinner or something at some posh restaurant. It's not that it's expensive why I tend not to buy it, it's because of the feeling I get after I've eaten it. It makes me feel quite sick/uneasy. Subway compared to Mickey D's is more expensive but I'd rather have my sandwich made the way I want it without anything being deepfried in whatever kind of oil.

But yeah, given you did ask for prices, off the top of my head, I'd say a 12 piece bucket of chicken at KFC costs like 8 euro's, a Quarter Pounder menu at Mickey D's goes for about 5-6 euro's I'm guessing (maybe CK could correct me if I'm off) and a subway sandwich meal (sandwich + a coke + cookies/chips) goes for minimum of like 6 euro's till a max of 12 euro's.

[Axel]

You're a cheapskate and a thief. Worse is that you haven't even used what you've pocketed.

Well its hard to find a practice use for ensure, tampons, and depends when you're not a senior citizen....

In case you're wondering, most of the people who shop there are old, and the coupon printer prints out coupons based on the type of items you buy.