How should I ration my money?

2008-09-18 15:29:02

#1

Hurricane2k9: Pendulous Sweaty Balls; +1,538|6157|College Park, MD

Uh, yeah. I have a job now so I get a pretty steady paycheck, although it's not a fixed pay (hourly wage ftl).

I was thinking I should keep $100-150 in my checkings at all times, and put the rest into my savings. My reasoning is that I always want to make sure I've got enough money on hand for anything that might come up, but I also want to keep a steady flow of money going into my savings (cause of the interest, however shitty it might be).

Thoughts?

https://static.bf2s.com/files/user/36793/marylandsig.jpg

2008-09-18 15:29:53

#2

Finray: Hup! Dos, Tres, Cuatro; +2,629|6244|Catherine Black

Do eet.

2008-09-18 15:29:55

#3

jord: Member; +2,382|7134|The North, beyond the wall.

Invest while your economy has gone to shit.

2008-09-18 15:31:36

#4

Parker: isteal; +1,452|6850|The Gem Saloon

blow it all on candy!

2008-09-18 15:32:10

#5

War Man: Australians are hermaphrodites.; +564|7169|Purplicious Wisconsin

Parker wrote:
blow it all on candy!

Or go to Las Vegas and gamble

The irony of guns, is that they can save lives.

2008-09-18 15:32:21

#6

DefCon-17: Maple Syrup Faggot; +362|6612|Vancouver | Canada

That's pretty much what I'm doing.

3% interest rate on Savings never hurts.

2008-09-18 15:32:49

#7

.Sup: be nice; +2,646|6909|The Twilight Zone

Get a new PC.

https://www.shrani.si/f/3H/7h/45GTw71U/untitled-1.png

2008-09-18 15:33:25

#8

Hurricane2k9: Pendulous Sweaty Balls; +1,538|6157|College Park, MD

jord wrote:
Invest while your economy has gone to shit.

Invest in stocks? IDK how.

@DefCon how the fuck did you get 3% interest? I think BofA's regular savings is like .2% or something shitty like that.

Last edited by Hurricane2k9 (2008-09-18 15:34:00)

2008-09-18 15:36:09

#9

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7105|Washington DC

Hurricane2k9 wrote:
jord wrote:
Invest while your economy has gone to shit.
Invest in stocks? IDK how.

@DefCon how the fuck did you get 3% interest? I think BofA's regular savings is like .2% or something shitty like that.

Use internet banks ... much better rate of return.

As for stocks, I can council you ... but I would steer you toward mutual funds.

2008-09-18 15:37:41

#10

Finray: Hup! Dos, Tres, Cuatro; +2,629|6244|Catherine Black

Uk..

Halifax..

Teen savers account..

7% or something

I love the UK.

2008-09-18 15:38:16

#11

jsnipy: ...; +3,277|6978|...

practice the habit of always saving 1/2 of what you get ... pretend the other half does not exist.

2008-09-18 15:39:29

#12

wah1188: You orrible caaaaaaan't; +321|6916|UK

Money is worth less later in terms of opportunity cost and all that. Dunno seems like a smart thing to do, aren't you kind of young to be saving up? I reckon you should blow your paycheck on alcohol and hookers that's my advice.

2008-09-18 15:39:38

#13

Hurricane2k9: Pendulous Sweaty Balls; +1,538|6157|College Park, MD

OrangeHound wrote:
Hurricane2k9 wrote:
jord wrote:
Invest while your economy has gone to shit.
Invest in stocks? IDK how.

@DefCon how the fuck did you get 3% interest? I think BofA's regular savings is like .2% or something shitty like that.
Use internet banks ... much better rate of return.

As for stocks, I can council you ... but I would steer you toward mutual funds.

You can council me on either really

And whatcha mean 'internet banks'? And damn schmoopy that's a good interest rate.

I checked the BofA site. It said the interest rate is .20% (same with the APY), compounded daily and paid monthly. Fail @_@

wah1188 I want to be able to retire with a shitload of cash

Last edited by Hurricane2k9 (2008-09-18 15:40:00)

2008-09-18 15:41:56

#14

usmarine: Banned; +2,785|7217

you should go to a video game forum and ask for advice.

2008-09-18 15:43:56

#15

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7105|Washington DC

Hurricane2k9 wrote:
OrangeHound wrote:
Hurricane2k9 wrote:

Invest in stocks? IDK how.

@DefCon how the fuck did you get 3% interest? I think BofA's regular savings is like .2% or something shitty like that.
Use internet banks ... much better rate of return.

As for stocks, I can council you ... but I would steer you toward mutual funds.
You can council me on either really

And whatcha mean 'internet banks'?

I edited my response above with a link, but here it is again:
http://www.bankrate.com/brm/rate/mmmf_h … product=33

And, yes, since I'm the richest member of BF2s, I might be good council for you.

2008-09-18 15:44:51

#16

Mr.Dooomed: Find your center.; +752|6783

Put whatever amount ur putting in your savings account (Don't tell me its with ur bank) into a Vanguard or Fidelity Index Fund. They have been known to have the best return on your money over the life of the fund, or so I've heard.

Sure, Mutual funds are more volatile, and I've gotten a 40% return on one year, but they fluctuate to much. And, when you cash out, the fee's are more because you basically have to pay off the people investing your money for you. Our economy is kinda shit now, so, another reason to invest in an index fund. It's slow and boring, but worth it, especially if you're just a kid, and wont take it out till you're 50+

Last edited by Im_Dooomed (2008-09-18 15:49:08)

Nature is a powerful force. Those who seek to subdue nature, never do so permanently.

2008-09-18 15:45:00

#17

usmarine: Banned; +2,785|7217

OrangeHound wrote:
And, yes, since I'm the richest member of BF2s, I might be good council for you.

orly

2008-09-18 15:45:51

#18

.Sup: be nice; +2,646|6909|The Twilight Zone

OH should have donated money for BF2s members.

2008-09-18 15:46:13

#19

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7105|Washington DC

usmarine wrote:
OrangeHound wrote:
And, yes, since I'm the richest member of BF2s, I might be good council for you.
orly

yea rly ... what, you think I work for a living?

2008-09-18 15:46:36

#20

jord: Member; +2,382|7134|The North, beyond the wall.

I doubt that one. Not even richest mod I bet.

2008-09-18 15:48:05

#21

usmarine: Banned; +2,785|7217

OrangeHound wrote:
usmarine wrote:
OrangeHound wrote:
And, yes, since I'm the richest member of BF2s, I might be good council for you.
orly
yea rly ... what, you think I work for a living?

no i think you are on food stamps. what kind of question is that?

2008-09-18 15:49:40

#22

Mr.Dooomed: Find your center.; +752|6783

If you think 3% is good, some index and mutual funds have 15%-25% returns averaged over the life of the fund. Meaning, if a mutual fund was created 10 years ago, the average is calculated based on the return for each year. One year could be 50%, one year could be 10% etc etc.

So imagine if you have $1000 put away in a mutual fund. The return on your investment for the year was 15%, so tada! You just made $150 in one year. If you keep adding say, $100 every month from your paycheck, including the % from the mutual fund...

Last edited by Im_Dooomed (2008-09-18 15:52:28)

Nature is a powerful force. Those who seek to subdue nature, never do so permanently.

2008-09-18 15:52:11

#23

OrangeHound: Busy doing highfalutin adminy stuff ...; +1,335|7105|Washington DC

usmarine wrote:
OrangeHound wrote:
usmarine wrote:

orly
yea rly ... what, you think I work for a living?
no i think you are on food stamps. what kind of question is that?

Not on food stamps ... I meant, that I don't have to work for a living. I actually work for very low pay right now in a startup, and I can do that because (a) my previous company I partly owned was sold for $$$$$$$ and (b) good real estate investments.

2008-09-18 15:52:20

#24

jsnipy: ...; +3,277|6978|...

usmarine wrote:
OrangeHound wrote:
usmarine wrote:
orly
yea rly ... what, you think I work for a living?
no i think you are on food stamps. what kind of question is that?

he means he does not have to go to job to live
(edit: and he lives well)

Last edited by jsnipy (2008-09-18 15:53:01)

2008-09-18 15:54:20

#25

usmarine: Banned; +2,785|7217

jsnipy wrote:
usmarine wrote:
OrangeHound wrote:

yea rly ... what, you think I work for a living?
no i think you are on food stamps. what kind of question is that?
he means he does not have to go to job to live
(edit: and he lives well)

yes i know. but how does that make him the richest?

BF2S Forums How should I ration my money?

Parker wrote:

jord wrote:

Hurricane2k9 wrote:

jord wrote:

OrangeHound wrote:

Hurricane2k9 wrote:

jord wrote:

Hurricane2k9 wrote:

OrangeHound wrote:

Hurricane2k9 wrote:

OrangeHound wrote:

usmarine wrote:

OrangeHound wrote:

OrangeHound wrote:

usmarine wrote:

OrangeHound wrote:

usmarine wrote:

OrangeHound wrote:

usmarine wrote:

usmarine wrote:

OrangeHound wrote:

usmarine wrote:

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usmarine wrote:

OrangeHound wrote:

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