What do you do with you paycheck

[El Jefe]

As the title says, what do you do with your paycheck/income. Essentially how do you allocate it? I have got serious about saving for retirement this year, and I have been upping my contributions here recently to about 20% of my paycheck. I don't know how long I will be able to do 20% because it is difficult to do that with a 9month old, because every other day we need something for her lol.

I give 10% of my income (my wife's and my combined income) to charity, really been trying to focus on Cancer research/St. Judes, a girl who works with my wife has a 1year old with horrific cancer, she has done 46 weeks straight of Chemo, they have been trying to raise 15k dollars, so we are donating to that again. I have spent a few of our monthly donations helping people fix their cars at our shop, and that eats that budget up quickly.

I save about 10% of our money each month. The rest is paid on bills; mortgage, utilities, 1 car payment, car insurance, etc.

[El Jefe]

Originally Posted by Fire Me Boy!

She was miserable. As in calling me multiple days in a row in tears (and she's not a big crier). There comes a point where we decided it was better for her to not have a job than continue to put herself under the daily bullshit she was exposed to. Bad enough we've considered talking to employment attorneys and nearly filed an EEOC complaint.

I can completely understand this. My wife has finally got to that point as well, last week I told her "You need to just quit, its not worth the stress" and I thought she was going to. However, she has started putting her resume out there, which it shouldn't be hard for her to land something similar.

[El Jefe]

Originally Posted by LoneWolf

Yep. Happiness should trump income in cases like that. Life is too short to be miserable because of your job. Hopefully she finds something better soon.

Could not have said it better.

[El Jefe]

Originally Posted by TribalElder

Spend it all

**** saving

You could die tomorrow and look at all the money you wasted

I just don't live like that. We don't live incredibly under our means, but we live a good bit under our means. That being said, I am not naïve, and I know all the money I have worked hard to save could be gone in a heartbeat; major medical issue, lose your job, major house issue, family emergency. Any slew of reasons could cause money to lost quickly, but I have followed a 6months of expenses saved, and have around 4k in petty cash in a safe. I would hate to have something minimal happen that leads to something bad because I didn't stock some money away. So while I understand you cant take it with you, I also don't want short sidedness causing us to lose a house or a car, or fill in the blank.

[El Jefe]

Originally Posted by Jewish Rabbi

Jefe can't resist starting a few humble-brag threads every couple of months and then disappearing.

Meh, its just one of those things when ever something in real life has me thinking, I like to put it on here. My wife and I went on a missions trip, and honestly it was a pretty stern kick in the chiclets about not being as charitable as I should be. It was pretty embarrassing, a guy who was on our mission team made quite a bit less than our combined income and donates about 3 times the amount we do, so we are trying to be better about being more generous. We used to pretty much tithe at church, and ration our money for ourselves, and that's not right when we have excess.

[ChiTown]

Originally Posted by El Jefe

Meh, its just one of those things when ever something in real life has me thinking, I like to put it on here. My wife and I went on a missions trip, and honestly it was a pretty stern kick in the chiclets about not being as charitable as I should be. It was pretty embarrassing, a guy who was on our mission team made quite a bit less than our combined income and donates about 3 times the amount we do, so we are trying to be better about being more generous. We used to pretty much tithe at church, and ration our money for ourselves, and that's not right when we have excess.

Giving is a VERY personal thing that you can choose to do in your life. I've never chosen a specific % to give. My wife and I just do what feels right, when it feels right.

[Mosbonian]

Originally Posted by Fire Me Boy!

No, hourly.

It really wasn't the retail aspect. She had a direct coworker physically threaten her and management tell her she needed to get along. In another instance, her HR person told her it didn't matter what someone else said to her, it only mattered what she said to him. Her most recent department manager continually dresses her down to the point of demeaning her, once led her (by the ****ing hand) to show her something he didn't like.

And let me be clear before someone suggests she's a bad employee: She's never had anything below a 4 (out of 5) on her performance reviews.

I don't know how he didn't get sliced up for sexual harassment for taking her by the hand. At a company I worked for previously one of the Managers got written up and reprimanded for just touching a woman on the shoulder to get her attention and ask her to go back to her cubicle as it wasn't break time.

[Fire Me Boy!]

Originally Posted by Mosbonian

I don't know how he didn't get sliced up for sexual harassment for taking her by the hand. At a company I worked for previously one of the Managers got written up and reprimanded for just touching a woman on the shoulder to get her attention and ask her to go back to her cubicle as it wasn't break time.

Because her HR department is a complete joke. I think out of reflex I'd have yanked my hand away and asked him WTF he thought he was doing? She was so taken aback by what was happening, she didn't know how to react.

This is the same department that told HER she needed to get along after her coworker threatened her.

[bdj23]

10% 401k
$150 a week into savings that usually gets spent on treating myself to something (i.e. vacation or something similar)
$800-900 towards paying off my car and some shitty cc debt
Everything else to bills and booze

I can really stretch my $11/hr

[BWillie]

How does a 401K work exactly? I don't have dick for retirement. I assume you can get a 401k privately, but you would have no employer to match anything you contribute.

At what point can you draw in full from the 401k? Can you draw from the 401k early at what penalty? Is it tiered? So many questions.

I just figure I'll be old anyway. I don't see why old people would value money unless it is to pay for their healthcare. But I'm sure good ole socialists will help me out in 40 years. I'll just be sitting on a recliner watching Matlock and Jessica Landsbury movies, or whatever old people watch in 2060

[SAUTO]

Originally Posted by ChiTown

I have never operated on a real budget. We have always lived within our means, so we never saw the need to have a budget. It's worked pretty well thus far in our 23-year Marriage.

As to how I allocate - I don't. I don't have any car payments, I pay off credit cards monthly, we have very manageable mortgage's (two homes), and we don't have expensive habits. I don't save and put away money monthly. I'm self employed, so I max out my SEP IRA once a year, and invest a couple times per year. The rest goes back into my businesses (which has been my best investment).

This is where I'm at too, other than the ira and investments.

[Perineum Ripper]

[Chiefshrink]

Originally Posted by Frosty

I currently have two kids in college. What money?

This.

[Demonpenz]

I put 6% in a 401K then try not to be too dumb with my spending. I go to sporting kc games and Royals games, but those have been toned down because retirement is approaching so I do a double take at my expenses. It hard to cut back on the bullshit but once you get away from the constant entertainment it becomes easier to just go to work and come home and hang out instead of spending cash to get your kicks.

[loochy]

Originally Posted by Demonpenz

I put 6% in a 401K then try not to be too dumb with my spending. I go to sporting kc games and Royals games, but those have been toned down because retirement is approaching so I do a double take at my expenses. It hard to cut back on the bullshit but once you get away from the constant entertainment it becomes easier to just go to work and come home and hang out instead of spending cash to get your kicks.

When I got older it became much easier and more fulfilling to live a boring cheapo life.

I LIKE messing with the lawn. I LIKE staying home and doing nothing. I LIKE taking naps.

[Bowser]

Who's asking?