I read that half of Americans couldn’t cover an unexpected $1,000 expense. This sounds crazy to me. I understand that poverty exists, but the idea that an adult with a job doesn’t even have that amount saved up seems really strange.

What’s your relationship or philosophy with money? What do you credit for your financial success, or alternatively, what do you blame for your failures?

For the extra brave ones: how much savings do you have, and what are you planning to do with them?

  • SeikoAlpinist@slrpnk.net
    8·
    3 months ago

    Live below my means, invest the rest.

    I don’t dress or act like people in my pay range. My house is small and in a quiet neighborhood and cost less than my salary. Car is older but paid off and I know all the quirks and have the toolbox in the back to fix it. It is probably one of the top 5 most reliable cars in history. My work dress shoes are 10 years old and my around the house shoes were new in 2019.

    I spend my money where I spend my time. So I have a nice phone, a very nice monitor and mechanical keyboard, and a good computer. And all with the right to repair philosophy. Same for my wife and kids. And also good running shoes, good exercise equipment.

    The plan is to get to a point where I can just not work at all and maintain my lifestyle. Three percent rule and all that. And also help launch my kids.

    Something about a 25 year roof and a Japanese shit box car in my fortress of solitude.

    FWIW I grew up really really really poor like you wouldn’t believe so I’m okay with this.

    • Lawdoggo@lemmy.world
      1·
      2 months ago

      I grew up upper-middle class and have largely the same philosophy. Always thought my friends’ parents were idiots for buying these gas guzzling Ford/Chevy monstrosities just to haul around 1-2 kids and a dog on occasion. Regular salaried people spending/financing more than half their annual income every few years on cars they don’t need just to keep up with the Joneses who don’t really care in the first place.

      I don’t skimp on quality when I buy something, but I only buy what I actually need and if something serves its purpose, I hold onto it for as long as it works. My wife and I do very well now, but aside from living in a fairly nice neighborhood with great public schools and amenities, you wouldn’t think it from the cars we drive and the way we dress.