"99% of my cash is spent on food and coffee"
Had an interesting chat w/ my brother yesterday over IM (the same one who likens debt to kissing your sister), and thought I'd copy & paste it here for ya. Figured it would be much more interesting to read via IM style than paraphrasing and trying to slip in silly banter all over the place. Plus, I'm feeling pretty lazy today. So here you go - let's see if you can pick out the moral of the story:
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(2:56:11 PM) My_Brother: i came across a stunning realization the other day about my spending
(2:56:22 PM) My_Brother: i mean, i knew all along, but this REALLY knocked me out when i sat and thought about it
(2:58:00 PM) J_Money: that tends to happen :)
(3:00:31 PM) My_Brother: 99% of my cash is spent on food and coffee
(3:00:40 PM) My_Brother: sure, i dont buy groceries really
(3:00:44 PM) My_Brother: but still, man that sucks
(3:01:02 PM) J_Money: yeah...but luckily you eat around the same amount every month :)
(3:01:17 PM) J_Money: so no matter how much you get paid going forward, you prob. won't be spending that much more of your cash!
(3:01:24 PM) My_Brother: thats true
(3:01:33 PM) My_Brother: i prob spend what id spend on groceries anyway
(3:01:36 PM) My_Brother: just stinks
(3:04:37 PM) J_Money: yup, stinks indeed. but look on the brightside - you have a sexy brother.
(3:05:49 PM) My_Brother: i did not think of that
(3:05:55 PM) My_Brother: that is good to know. right on
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Find the financial moral? Here it is: If you learn how to spend the same amount of money each month, anything "extra" you get can be dedicated to savings! Bonuses, raises, money you find in your pockets, all of it. Learn how to utilize that extra money instead of upping your standard of living every year! Leveling spending = leveling stress ;)
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(2:56:11 PM) My_Brother: i came across a stunning realization the other day about my spending
(2:56:22 PM) My_Brother: i mean, i knew all along, but this REALLY knocked me out when i sat and thought about it
(2:58:00 PM) J_Money: that tends to happen :)
(3:00:31 PM) My_Brother: 99% of my cash is spent on food and coffee
(3:00:40 PM) My_Brother: sure, i dont buy groceries really
(3:00:44 PM) My_Brother: but still, man that sucks
(3:01:02 PM) J_Money: yeah...but luckily you eat around the same amount every month :)
(3:01:17 PM) J_Money: so no matter how much you get paid going forward, you prob. won't be spending that much more of your cash!
(3:01:24 PM) My_Brother: thats true
(3:01:33 PM) My_Brother: i prob spend what id spend on groceries anyway
(3:01:36 PM) My_Brother: just stinks
(3:04:37 PM) J_Money: yup, stinks indeed. but look on the brightside - you have a sexy brother.
(3:05:49 PM) My_Brother: i did not think of that
(3:05:55 PM) My_Brother: that is good to know. right on
------
Find the financial moral? Here it is: If you learn how to spend the same amount of money each month, anything "extra" you get can be dedicated to savings! Bonuses, raises, money you find in your pockets, all of it. Learn how to utilize that extra money instead of upping your standard of living every year! Leveling spending = leveling stress ;)
Labels: advice, money management
posted by J. Money at
9:50 AM
16 Comments:
i love this idea. of course, it just seems like there's always something new to spend your money on but i like this idea. i guess my problem is i really need to figure out how much do i really spend each month. as always, that's for wisdom.
You guys have sort of boring conversations...
No, just kidding! I'm sure you don't reprint the REAL conversations. ;oD
We tracked our spending for many months and found out that we spend the same horrific amount on food, more or less, every month.
My goal now is to reduce what gets tossed from the fridge because I opened a jar of Alfredo sauce to put on spaghetti for one person, and then it sat till it became... inedible. What a waste of grocery money. I'd like to see what our food bill came down to if we ate every bite of what we buy.
Sorry if I got off-topic! (Do you guys always talk about your sexiness to each other? I'm thinking you must be a couple of really good-looking guys!!)
This is a great of example of how a simple idea can yield a great return! It is so easy to up your standard of living when you have extra cash flow. If one would take the advice you offer here, they would have a nice nest egg before they knew it!
Thanks!
Yesisr. I am totally a fan of the "Don't increase your lifestyle" plan. I received a $10K raise a few months ago and it sure is nice throwing that extra money in to the good ol Roth IRA or savings account each month. The only thing my added income has increased is my savings rate and debt payoff schedule!
Most of my cash is spent on cigarettes and junk food. Cash is essentially my vice fund. If I didn't smoke or buy cake, cookies and diet pop at work, I probably would spend very little cash. All my "real spending" is done through electronic funds transfer, debit card or credit card.
What are you guys smoking today?! haha...we got some comedians up in hurrr ;) Mad love to all y'all though fo sho.
@from the desk of ....me - Do it! Start tracking that, you will be SO HAPPY later, i'm telling you.
@444 - Yes, we always talk like we're awesome pimp daddies or something ;) makes life more interesting...at least to us.
@Keith - No doubt. Sometimes the simplest of concepts goes the farthest. Thx for stopping by :)
@Punch Debt In The Face - that's because you're a rock star, keep it up buddy! soon enough we'll be on the beach sipping on liquid money. wait, that sounds horrible....
@BigAssSuperstar - Did you say "pop"?! Are we back in the 60's again? haha...nah, you know i love my Canadians reppin' in here. btw, where's my rock song? you probably don't know this, but i cry one tear every night waiting for it :(
Now, time for KICKBALL again!! Can you tell i'm excited??? I'm all hyped up on caffeine over here...and soon beers.
Caffeine and beer! The stuff of life! That's my diet today, too. 1. Coffee: On. 2. Coffee: Off. 3. Beer: On.
yep, stack those extra chips.
Ummmm...yeaaaahh. This is pretty much the story of my life. In December when I had two weeks off work I spent almost $300 on Starbucks. STARBUCKS. I can definitely go overboard with spending on coffee and food (dinners, breakfasts with friends can add up SO quickly!) if I don't make an effort to watch my spending. Then again, I choose not to spend money on things like shopping, so I think it evens out in the end.
fun post - thanks :D
Yup, pop. I know the 'mericans call it soda.... or in the south, everything fizzy is a Coke. The Brits call it fizzy drink. And I'm sure the Belgians call it something absolutely hilarious. Oh, those Belgians.
As for the rock song -- sorry about that! I sat down to write it a coupla weekends ago, and it turned out that the chord progression in my head translated to absolute dissonant garbage when played out loud. More than that, though, I was trying out a new recording software package that I couldn't make heads or tails of, so I ended up recording a song about being disgusted with myself for eating a whole pizza in one sitting.
I can tell you that I *have* sketched out most of the lyrics and have decided it'll probably be about twice the tempo of my original idea ... kind of upspeed punk-ish, Blink-182/Sum-41/Green Dayish..or something. It'll be sexy, though.
I know I'm more likely to spend cash when I have it. It's just easier because it's not as trackable.
@Jenny B - OH yeah, it's all about spending money one the things you enjoy and less (like shopping in your case) on the things you don't. Have you read @Ramit's book yet? If not, you totally should - written perfectly for the younger generation like us ;) Here's my review on it: I Will Teach You To Be Rich. My new favorite personal finance book.
@bigasssuperstar - aww yeahhh now THAT's what i'm talkin' about good sir. but totally take your time, no rush. just was wondering that's all. OH, and for all you reading this that haven't checked out Big Ass' music, you totally have to - freakin' hilarious! Here's the link: www.onlinemusicnetwork.ca/Big__Superstar
I can relate to this.
The amount of money I blow on coffee is obscene.
It's just so easy with Starbucks on every corner.
There has to be a balance between the 'little' luxuries in life and saving enough.
Seriously, I never carry more than a few dollars in change around. But I would say 99% of mine is also spent on food!
At first I thought you meant, 99% of his INCOME was spent on food and coffee...and was like, WTF? Doesn't this guy have housing, gas and bills to pay for?? Lol.
Ha, I thought the lesson was, "J. Money is a sexy brotha!" Whooops.
Really, I hadn't thought of this before. But you're right. The money I spend on food now won't increase in the years to come. (Especially for me, as I am one PICKY eater. I don't see myself dining on escargot while sitting my fanny on the couch watching Desperate Housewives any time soon!) Unless I gain 300 pounds and need to eat more! Assuming that doesn't happen, what I spend on food now should remain the same in the decades to come. Hmmm.... That's reassuring to know! :) Thanks!
Hey, that's what I'm here for ;)
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