›
This forum is in permanent archive mode. Our new active community can be found here.

Saving Money

sucrilhossucrilhos
edited July 2010 in Everything Else
Alright, this is what is going on. Before I got no money what so ever so I had nothing to save, the little money I got from doing private tech support I used to buy geekery. Then I got an adult job, and now I have money to buy things. But naturally all of us have to save money to achieve things. That being a trip, the buying of a house or a car, buying stocks or starting a business; something.
That being said, you can't buy stuff with all of your money. No matter how much money you have, you need to keep yourself from buying all you want with that particular amount of money, and put some of it away, that involves a sacrifice.
The big question is, what things are ok to spend money on, and what things are not. How to identify what things are not just a fulfillment of you consumerism mind?
Since geekery involves passion for something (as Scott put it) you probably can spend an unreasonable amount of money on that. Now I'm paying all of my necessities, but so far no savings.
An example, I bought a PS3, that was absolutely necessary because I enjoy it a lot. On the other hand every time I go in the game store I buy a game, most of which I only play once. On that example things are purposely easy to identify, but that does not occur on regular basis.
What are you guy's thoughs on the saving money on the right things issue?
«13

Comments

  • CremlianCremlian
    edited July 2010
    On the other hand every time I go in the game store I buy a game, most of which I only play once.
    Just buy less games and read up and make sure you will like them before you buy them or conversely just buy when games are really cheap on a steam sale or a buy 2 get one free.
    Post edited by Cremlian on
  • sucrilhossucrilhos
    Yeah that is one thing, but it's really not the issue. The issue is a generic knowledge of when buying something is more salutary/beneficial then saving that amount of money.
  • CremlianCremlian
    Well when you buy something ask yourself "Do I need this RIGHT now" and if it's a no then don't buy it and if it's yes, ask yourself "I do need this but is this the best price I can get."
  • MrRobotoMrRoboto
    edited July 2010
    Alright, this is what is going on. Before I got no money what so ever so I had nothing to save, the little money I got from doing private tech support I used to buy geekery. Then I got an adult job, and now I have money to buy things. But naturally all of us have to save money to achieve things. That being a trip, the buying of a house or a car, buying stocks or starting a business; something.
    That being said, you can't buy stuff with all of your money. No matter how much money you have, you need to keep yourself from buying all you want with that particular amount of money, and put some of it away, that involves a sacrifice.
    The big question is, what things are ok to spend money on, and what things are not. How to identify what things are not just a fulfillment of you consumerism mind?
    Since geekery involves passion for something (as Scott put it) you probably can spend an unreasonable amount of money on that. Now I'm paying all of my necessities, but so far no savings.
    An example, I bought a PS3, that was absolutely necessary because I enjoy it a lot. On the other hand every time I go in the game store I buy a game, most of which I only play once. On that example things are purposely easy to identify, but that does not occur on regular basis.
    What are you guy's thoughs on the saving money on the right things issue?
    Want to save money? don't buy shit, finish all the games you have, sell them, buy used games using only the money from the used games, if you run out of money for games, play free indie games and demos for a while, work extra hours and use that money for your games.

    Also, you usually spend as you earn, as soon as you get your paycheck, put 10%-20% in a bank account with no checks or debit card or online transfers, you'll probably eat like shit for 1 month and will barely be able to pay for rent probably, but you'll get used to it real soon and probably live just as comfortable as you do now.

    Bored? draw, knit, sew, repair your household, learn a new skill, read a book, etc.
    Post edited by MrRoboto on
  • WindUpBirdWindUpBird
    edited July 2010
    I tend to build up this monumental loathing of dropping below a certain dollar amount in the bank, so that it feels as if I teeter on being broke when that is far from the case if I approach that amount. I set this limit far from where it should actually be, and also allow myself a fair bit of money for geekeries. The result is a carefully bred, instinctual self-control and lots of geek moneys, as well as a massive safety net if there's an emergency or if I falter. It works; I've got All-Clad pans, Dominion, and the monthly box to prove it. Also, Steam.

    The key has been and always will be self-control, it's just how you get there.
    Post edited by WindUpBird on
  • sucrilhossucrilhos
    Crem you don't actually need anything that comes from geekery. You just buy it because you like it. If I were to ask "Do I need this right now?" The answer would be "no" to almost everything in geekery.
  • sucrilhossucrilhos
    I have a bit of a problem with self-control. Maybe I need therapy. The stupid bank gave me a thousand dollar bellow zero limit that I pay 10% rate if I go into it. I have to try to stay above 1 thousand so I don't pay that unreasonable rate. I do like the putting away money in the beginning of the month thing, I have to try to do that.
  • CremlianCremlian
    Crem you don't actually need anything that comes from geekery. You just buy it because you like it. If I were to ask "Do I need this right now?" The answer would be "no" to almost everything in geekery.
    A need doesn't have to be something that is vital to your existence. A need can be superfical in the case I am using. For example, I want to buy a Wii game, Mario Galaxy 2. I ask myself, have I beat Mario Galaxy 1 in which I answer, no I have not, so I tell myself, why don't you finish Mario Galaxy 1 before you buy Mario Galaxy 2.
  • MattMatt
    I have written about this topic specifically. I usually don't link-pimp myself but I feel I need to in this situation: http://www.themoderndaypirates.com/pirates/2010/03/the-frugal-geek-saving-big-money-with-used-games/

    MrRobot hit the nail on the head. Play what you have, sell it, buy super cheap used w/ the sales profit. The link I put up there says much of the same, but also goes into some very amateur statistics on how to create a chart that maps out your future purchase list, the average used price of each game, and their average review score. Bottom line is you pump out one metric that is a "bang for your buck" factor that tells you exactly what you should buy next. It will be the cheapest most enjoyable game you could possibly buy.
  • sucrilhossucrilhos
    Nice article man. I exchange my used games and I also buy most of my games used, online on Brazilian gaming forums, but it is always nice to be remembered of a few good advices.
  • ElJoe0ElJoe0
    On the topic of video games, I only really buy a *new* game when it is really relevant to my interests. For example, I bought Fallout 1+2 on GOG, finished them (if you CAN finish them) and only then considered buying 3 and New Vegas. By playing age on viji games, I can spend little on hardware (I play all my PC games on my 5 year old Pentium 4 with a 7600GT and 2GB ram or my £200 refurbished Lenovo T60(A laptop with Civ 4 is a pwoerful thing!)) and on my brothers X-box. I enjoy viji games as much as all of my friends who have tricked out rigs (and they still seem to play CSS which runs on my PC) and pay nothing on comparison, by using GOG.com, pre-loved x-box games and Steam sales!
  • RymRym
    Unless a game is timely for online play or important like Portal, I never pay even a fraction of the full price. Just wait until it's in the dollar bin.
  • OmnutiaOmnutia
    edited July 2010
    In addition: Always raid the dollar bin for classics. For a few quid, you can get a lot of gaming. Especially important for those time where you just need a game to fill the gap.
    Also a good way to play genres you wouldn't otherwise be interested in.
    Post edited by Omnutia on
  • George PatchesGeorge Patches
    The thing about saving money is there's no one cure all. Everyone has a different situation and a different solution. You just need to think more cleverly. For example, have you considered a gaming rental service that's similar to netflix? That way you can play a bunch of different games, but not spend a ton of money.
  • AprecheApreche
    edited July 2010
    If you are saving for a particular item (car/house down payment) then you know what it costs. You can easily calculate how much you have to save per paycheck to be able to make the purchase within X time period. Simply take the amount you have calculated out of each paycheck and put it into savings before you buy any non-necessities. Then, because math works, you will be able to buy the thing after X time.

    If you are saving for retirement, you should get a 401k/IRA/whatever. They have things you can fill out to figure out how much you need to save now in order to have X money at the time you will retire. Just do what it says. It's best if your company has a 401k so that you can have the contribution automatically deducted from your paycheck pre-tax, hopefully with a match.

    Savings is just math and will power. You need the math to calculate how much to save, and the willpower to put the money into the savings and not touch it unless there's a legitimate emergency (medical issue, car explodes can't get to work).
    Post edited by Apreche on
  • NuriNuri
    A lot of people just transfer a certain percentage of their paycheck into a savings account as soon as they get paid, and then leave that money alone. They work with what's left. That's a good way to save up a rainy day fund that is not necessarily for retirement.

    Of course, if you are like me then your car will break periodically and take exactly the amount of money in your Savings account to fix. That happened 3 times, so I stopped putting money in my Savings account. My car hasn't broken down ever since. Granted, I also bought a new (used) car since then, but whatever. That clearly proves that having money in my savings account is a catalyst for car disaster! (I'm living on student loans right now anyway, so I have no money to save.)
  • MrRobotoMrRoboto
    having money in my savings account is a catalyst for car disaster!
    That seems to be the usual result of saving money.
  • sucrilhossucrilhos
    This got pulled almost totally to video-games, that's not the main issue here. Say I need a couch (which I do), there is no couch in the 1 dollar bin. lol
    Say I make 5k a month (paychecks in Brazil are monthly), how much money is it okay to spend on a couch? Should I use the money destined to savings?
  • AprecheApreche
    This got pulled almost totally to video-games, that's not the main issue here. Say I need a couch (which I do), there is no couch in the 1 dollar bin. lol
    Say I make 5k a month (paychecks in Brazil are monthly), how much money is it okay to spend on a couch? Should I use the money destined to savings?
    You can get a couch on Craigslist or even free. Look for people who are moving.
  • CremlianCremlian
    This got pulled almost totally to video-games, that's not the main issue here. Say I need a couch (which I do), there is no couch in the 1 dollar bin. lol
    Say I make 5k a month (paychecks in Brazil are monthly), how much money is it okay to spend on a couch? Should I use the money destined to savings?
    I have three couches in my house (one which is a totally awesome 3 piece) and I've paid a grand total of 0 dollars by taking it off people who are moving and getting things second hand (or friends).
  • George PatchesGeorge Patches
    Determine how badly you need a couch (I had no couch for many months) and then plan accordingly.
  • NuriNuri
    You can get a couch on Craigslist or even free. Look for people who are moving.
    Watch out for bedbugs though; they are becoming a bigger and bigger problem in some places.
  • George PatchesGeorge Patches
    Watch out for bedbugs though; they are becoming a bigger and bigger problem in some places.
    You've just given me a brilliant idea on how to get the ikea futon I want.
  • NuriNuri
    Watch out for bedbugs though; they are becoming a bigger and bigger problem in some places.
    You've just given me a brilliant idea on how to get the ikea futon I want.
    o.O;;
  • sucrilhossucrilhos
    edited July 2010
    In Brazil people don't throw couches away. They even change their cloth when the thing gets old. Unfortunately a donated couch is not an option. I also have looked for used ones around here and the ones I found were disgusting. I'm borrowing a couch from my neighbor, but it already bothers me because it's been a while. I have to determine if I want to spend a good amount of money to get a good couch, where I can sleep on if I need to do so (like if my dad comes over and I need to give him my bed), or if I want to get a cheap couch which will set me back a little bit of money but will have no use for me in a couple of years.
    That goes on for other things. I just got a rack for the TV, but I just went for the cheapest one with wheels. I think I will probably spend more then I should on a couch, Specially because it's the place where I play video-games and watch movies and Anime. How much money should I save on this? Should I go all out and get the best I can, or should I buy the cheapest and make do?
    Post edited by sucrilhos on
  • CremlianCremlian
    Should I go all out and get the best I can, or should I buy the cheapest and make do?
    Well you want to buy the best you can afford that is comfortable. Nothing sucks more then a uncomfortable couch.
  • AprecheApreche
    I paid $1000 for a chair, but I plan to keep that chair for the rest of my life. I spent hundreds on a couch, which I also plan to keep for a very long time. If you plan to stay in one place for a very long time, then it's probably worth it to get a very good couch and pay for it. If it's a shorter term deal, get the cheapest that will suffice.

    Also, have you considered couch alternatives?
  • sucrilhossucrilhos
    edited July 2010
    Hm not really, what alternatives are there? I'm in a tough situation because I'm in a place I hate, and I'm trying to be transferred out. But I love staying in front of the TV playing video games. I'm thinking about getting a cheap but comfortable which makes it no so cheap. In Brazilian money, the cheapest couch is about 300, a good one is about 1.500. There as some cheap but comfortable for about 600. These will not last, but they will work for the time being. Although I will be wasting money because I'm probably going to have to buy another one once I get transferred out of here.
    For all of my furniture here I got the cheapest thing I could get, minding that I would try to be transferred out as soon as possible, but it's been 8 months. =(
    Post edited by sucrilhos on
  • AprecheApreche
    Bean bags, banana chairs, there are plenty of things you can sit on comfortably in front of the TV that aren't couches. You might just even consider a love seat (small couch) or a reclining chair (La-Z-Boy).
  • RymRym
    For cheap living, lawn furniture is also an option. As are home-made desks/tables.
Sign In or Register to comment.