My dilemma

[LARAGORN]

As an old man with the imenent doom of retirment stalking me, I have a much different view of saving money then I did yesteryear. Saving money is just like exersize and taking care of your body, it is a habit and a way of life that pays off in the long run. In hindsight I can say you are never to young to start saving, with less and less companies having fulltime employees and retirment packages, all part timers and self employed workers need to take care of their own future financial needs.

I do however love to go out and get that nice new shinney toy now and again

[Idoru]

[Boring post about saving money]

Saving money is a good thing IMO. In my line of work im constantly seeing people who have ended up in large amounts of debt because of unexpected events in their lives. When these events occur people are forced to borrow money for high interest lenders (Home-credit companies being a good example of dirty scumbags), and then end up paying off their loans and the 400% interest that is applied to them. If these people had bothered to save a couple of pounds a week they would have had access to their savings rather than being forced to get loans.

On a related note, the earlier you save for retirement the less you need to save each time. A quick example is to halve your age and whatever number you get should be the percentage of your current income that you are saving. This would normally give someone sufficient income at the time of retirement to maintain their current standard of living.

And to think ive just got home from work and im sat here typing this 

[/Boring post about saving money]

[zanzibar]

On a related note, the earlier you save for retirement the less you need to save each time. A quick example is to halve your age and whatever number you get should be the percentage of your current income that you are saving. This would normally give someone sufficient income at the time of retirement to maintain their current standard of living.

The problem is that money means more to a young person than it does to an old person because young people make less money.

[emeraldfool]

On a related note, the earlier you save for retirement the less you need to save each time. A quick example is to halve your age and whatever number you get should be the percentage of your current income that you are saving. This would normally give someone sufficient income at the time of retirement to maintain their current standard of living.

The problem is that money means more to a young person than it does to an old person because young people make less money.

How is that a problem?

[zanzibar]

How is that a problem?

It means that saving money when you're young is not as easy as saving money when you have a career.

[emeraldfool]

How is that a problem?

It means that saving money when you're young is not as easy as saving money when you have a career.

Well, obviously, but it's still something. Something more than you would've had, anyway...
And I think the half-your-age thing makes it clear that you shouldn't be saving that much as a young person anyway (what's 10% of a €10,000 salary anyway...)

[Kixie]

How is that a problem?

It means that saving money when you're young is not as easy as saving money when you have a career.

Well, obviously, but it's still something. Something more than you would've had, anyway...
And I think the half-your-age thing makes it clear that you shouldn't be saving that much as a young person anyway (what's 10% of a €10,000 salary anyway...)

Dinner. Tha's what.

[Idoru]

(what's 10% of a €10,000 salary anyway...)

Maths isnt your strong point eh?

Its all relative anyway. 10% of less money is less money. I have to say that I dont save at all. I do have a savings account but it has about 4 pounds in it 

[emeraldfool]

(what's 10% of a €10,000 salary anyway...)

Maths isnt your strong point eh?

Its all relative anyway. 10% of less money is less money. I have to say that I dont save at all. I do have a savings account but it has about 4 pounds in it 

That's what I mean. 1,000 euro isn't much in the grand scheme of things, but at least you'll have enough money to say, buy a new fridge if yours suddenly craps out. There's nothing worse than trying to get by without a fridge for a few months...

[Idoru]

There's nothing worse than trying to get by without a fridge for a few months...

Id have to say that it would be worse to have you PC go down, Like my monitor broke last week and I had to get a loan to buy a new one, only 150 pounds but if I had saved it wouldnt be costing me as much, perfect example of why saving is better than borrowing, the fact the loan will cost me about 2 pounds in total interest charges isnt the point

Saving is good, borrowing is bad. Spending is fun though

[emeraldfool]

If you put a computer monitor over living off of jerky for a month I think you've got a problem

[zanzibar]

If you put a computer monitor over living off of jerky for a month I think you've got a problem

I need my computer for school, for work, and for communication.  I cannot be without it.

[emeraldfool]

If you put a computer monitor over living off of jerky for a month I think you've got a problem

I need my computer for school, for work, and for communication.  I cannot be without it.

Without meat, cold drinks and dairy products I'd be dead

[zanzibar]

Without meat, cold drinks and dairy products I'd be healthier.

Fixed.

[emeraldfool]

Without meat, cold drinks and dairy products I'd be healthier.

Fixed.

Hmm, no, I'm gonna say being alive is kind of healthier than being dead by definition...