Anyone under 30, and not buy nicer things as your salary increases?

[MrDudeMan]

Originally posted by: blipblop
Yea, I'm currently 22 and my salary is much more than I can ever imagine. I don't spend money on things. I spend money on things that make me money. Stocks/Real Estate.

I'm 22 also and have no interest in buying junk. My wife and I bought a condo in Colorado and are currently saving to build a house a few minutes north of town, and then rent the condo for a while (until it's paid off hopefully). We are perfectly happy living how we do and we spend next to nothing on a daily basis. Saving FTW.

 

[HannibalX]

I make more and I spend more. Should I save more? Yeah I should, I admit that.

 

[BrownTown]

I mean really, why else would you be working a 40hr a week job unless you wanted the money to spend on stuff? If you are fine with making 30,000$ a year then just work 20 hours a week and spend your extra 20 hours doing whatever you want. The fact of the matter is that most all of the fun stuff in life costs alot of money. Even if you have very pedestrian tastes, just buying the food an shelter and basic needs of life costs alot of money.

 

[oddyager]

Nope. My parents were very responsible with their money and it has rubbed off on me. I definitely don't do "needless" spending. Plus I live in one of the most expensive cities in the US and I think anyone who is fiscally irresponsible here is not going to survive.

 

[Descartes]

My income more than sextupled (is that even proper to say it that way?) over the past 7 years. In that time, I increased my lifestyle by a few magnitudes I'd say, but I could still maintain the same lifestyle I have now if I were making half of what I do.

 

[BarneyFife]

When I was in college, I would plan on how to spend what little money I made but now that I have a real job, I am saving a ton of it. My goal is to retire by 50 but who knows with kids and college expenses.

 

[IceBergSLiM]

Originally posted by: Elbryn
my savings has gone up as i've made more money and gotten married. we're in the awesome dual income no kids stage atm and are stuffing as much cash into retirement accounts as we can. way we figure, we get a wide enough base in the next couple years then when kids come we can cut back, let compounding interest go into effect. it really is
1. get educated to get a decent job
2. meet someone of similar financial mind
3. save crapload of cash
4. ...
5. ...
6. ...
7. profit

you forgot divorce lose half your shit do not pass go.

 

[n yusef]

I'm still in school and getting into debt rather than making money right now, so perhaps I have something to learn about the world. With that said, I know if I were making a lot of money, I would spend it. Money has no intrinsic value, and hoarding it does not achieve anything. I understand that one should save for emergencies and for one's future and retirement, but I see no reason to live like you are making $30k a year, yet have tons in the bank/portfolio/real estate. I know that I am being shortsighted when I say this, and that my opinion may change as I get older, but I'd rather live decadently in my 20s and 30s and alright when I am older than the reverse.

 

[MrDudeMan]

Originally posted by: IcebergSlim

Originally posted by: Elbryn
my savings has gone up as i've made more money and gotten married. we're in the awesome dual income no kids stage atm and are stuffing as much cash into retirement accounts as we can. way we figure, we get a wide enough base in the next couple years then when kids come we can cut back, let compounding interest go into effect. it really is
1. get educated to get a decent job
2. meet someone of similar financial mind
3. save crapload of cash
4. ...
5. ...
6. ...
7. profit

you forgot divorce lose half your shit do not pass go.

It must be fantastic to live in your world where marriage automatically ends in divorce, and being so sure of it that you would consider adding it to a list of events you plan to have happen. :thumbsdown:

 

[AgaBoogaBoo]

I don't spend more as I make more, I guess I am donating half of everything though, and so once I have enough to take care of myself and not worry about being late on bills, I don't really demand a whole lot else. My computer, car, etc. is all pretty simple though and prefer to have everything this way just because there's less to worry about.

 

[Xavier434]

When you get older you start to think about things like:

1. Buying a house/condo because rent is throwing money away
2. Kids/College/Money/Ya...
3. Saving for a wedding maybe? That's a case by case basis.
4. Paying off the debt you accrued in college.
5. Cars start to die. Appliances start to die. You to replace the necessities sometimes.
6. Health Insurance. Dental Insurance. Life Insurance. Vision Insurance. Oh My!
7. Saving for retirement. Yes, even in your mid twenties it is a very good thing to start doing. Don't think for a second that your 401k and SS will be enough to keep you happy.

Hardly any of the above is even thought about during college in terms of expenses so there you have it. Most cannot afford to start paying for all of those right out of college either so gradual increases in salary will result in adding more of the above to your list. Finally, yes, people also increase their standard of living by purchasing nicer things.