How do you guys handle your finances?

theaf1don · 09-23-2011, 08:22 PM

Those of you who work for a company get monthly or bi-monthly paychecks. What is the standard division of savings, retirement, checking etc.

Do you initially take a % and put that in 401k, then put another % in roth IRA, savings etc, then put the rest in checkings account?

Tondtar · 09-24-2011, 01:56 AM

At the time, my finances is "handling" me instead ...

Not doing such a great job either ....Wish I could fire his a$$.

Blake · 09-24-2011, 03:20 AM

I have 16 credit cards, no income, and I pay off a CC with a CC. Fuck yea!

texasmojo · 09-24-2011, 10:33 AM

Me and wife put our money together. We each put 3% of our paychecks into our 401k because thats what the company matches. We get paid weekly. On a 4 week month we just pay our bills and put the rest in bank. On five week payed months we use that extra paycheck to blow on whatever we want. We have 5 months worth of mortgage payments in the bank, 1 million dollar life insurance on each of us at the cost of 3 dollars a week, and excellent health coverage by unitedhealthcare. Im not really into saving money. Life is too short.

MDyDinanM · 09-24-2011, 12:46 PM

3.5% into 401k company matched
$250/month into my banks IRA
and depending on the month, $1500-2000 into savings/brokerage/mutual funds
$50-$100 into an annuity

the rest is mortgage, and CC bill, utiliities, groceries, whatever

TK-421 · 09-24-2011, 01:42 PM

I'm a college kid with a full-time job and full tuition scholarship so I give 33% to my dad (aggressively invests for me right now), $100 a month towards my housing loan, and the rest on college shit (mostly car stuff and drinkz).

BayMoWe335 · 09-24-2011, 03:14 PM

Quote:

Originally Posted by TK-421

I'm a college kid with a full-time job and full tuition scholarship so I give 33% to my dad (steals my money), $100 a month towards my housing loan, and the rest on college shit (mostly car stuff and drinkz).

Fixed.

Q4P · 09-24-2011, 03:58 PM

Quote:

Originally Posted by Blake

I have 16 credit cards, no income, and I pay off a CC with a CC. Fuck yea!

The American way I approve!

ToothDoc · 09-24-2011, 07:19 PM

Mine's simple. 0% retirement, 0% savings, 100% living expenses and loans. Once all the loans are gone (mortgage, business loan, LOC, tuition) I can pretty much put 50% into retirement/savings.

M3Bahn · 09-24-2011, 07:58 PM

Convert all cash to hookers and blow.

SilverII · 09-24-2011, 08:36 PM

1k to car
20% to 401k
1k to mortgage
1.3k to expenses

TK-421 · 09-24-2011, 10:21 PM

Quote:

Originally Posted by BayMoWe335

Fixed.

I keep track of my money, don't you worry

Javi335 · 09-25-2011, 02:14 PM

i throw my money as if my life was a Hype Williams video

BMW F22 · 09-25-2011, 02:20 PM

Quote:

Originally Posted by Blake

I have 16 credit cards, no income, and I pay off a CC with a CC. Fuck yea!

I've always wondered about this because I've heard people say it a lot. But how is it possible to pay off a CC with another CC. Not that I ever want to be in that situation but I'm curious.

BayMoWe335 · 09-25-2011, 05:03 PM

Quote:

Originally Posted by BMW E90

I've always wondered about this because I've heard people say it a lot. But how is it possible to pay off a CC with another CC. Not that I ever want to be in that situation but I'm curious.

Happens all the time...balance transfer.

335i101 · 09-25-2011, 09:55 PM

6% to 401k to get match
415.00 to Roth Ira
250.00 into college fund

Spend the rest!

BMW F22 · 09-25-2011, 11:05 PM

Quote:

Originally Posted by BayMoWe335

Happens all the time...balance transfer.

Ahh I see. Now it makes sense...

LACSTER · 09-25-2011, 11:21 PM

Quote:

Originally Posted by SilverII

1k to car
20% to 401k
1k to mortgage
1.3k to expenses

What

stefan · 09-26-2011, 11:24 AM

Of what I make monthly, 20% to car, 35% to house/mtg/etc, 10% to savings/mutual funds, 40% general spending, bills, internet, etc. Granted I'm 25.. I do plan on increasing MF contributions as I make more cash. Car came first though

venom3469 · 09-26-2011, 02:45 PM

I'm also in college, my mom does take care of my gas

and food. Oh and college that's nice!

I go to work and school full time.

I have a roommate and we split it down the middle.

Rent: 350 (includes utilities also)

R6: 75 (minimum, I normally do 250)

335i: well I sold my mustang (10k profit I also put down 2k I had) and my R6 is up for sale!
Mom pays it until I graduate college.(2 years)

I spend a lot of my money on beer and other college expenses haha. The rest on upgrading the 335i!

I'm blessed for my mom and I love college!

MrRoboto · 09-26-2011, 02:51 PM

Originally Posted by SilverII
1k to car
20% to 401k
1k to mortgage
1.3k to expenses

Originally Posted by LACSTER
What

I thought the same thing...SilverII, you need to call Dave Ramsey.

Pcemkr · 09-26-2011, 03:07 PM

$1600 rent
$50 parking
$50 fixed utilities/amenities
$85 Comcast cable/internet
$400 car
6% 401k
$500 food/drinks
$100 metro fares
Remainder to savings

09-23-2011, 08:22 PM	#1
theaf1don Private First Class 26 Rep 127 Posts Drives: 325ci Join Date: Feb 2007 Location: USA iTrader: (0)	How do you guys handle your finances? Those of you who work for a company get monthly or bi-monthly paychecks. What is the standard division of savings, retirement, checking etc. Do you initially take a % and put that in 401k, then put another % in roth IRA, savings etc, then put the rest in checkings account?
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09-24-2011, 01:56 AM	#2
Tondtar 12 yr old Juvie 1076 Rep 881 Posts Drives: His Mom Crazy Join Date: Apr 2008 Location: El Lay iTrader: (2) Garage List 2008 (RIP in 2011) ... [0.00]	At the time, my finances is "handling" me instead ... Not doing such a great job either ....Wish I could fire his a$$.
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09-24-2011, 03:20 AM	#3
Blake Banned 754 Rep 4,649 Posts Drives: Chevy Aveo Join Date: May 2008 Location: Parent's Basement iTrader: (7)	I have 16 credit cards, no income, and I pay off a CC with a CC. Fuck yea!
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09-24-2011, 10:33 AM	#4
texasmojo Second Lieutenant 13 Rep 223 Posts Drives: 2008 128i automatic Join Date: Aug 2010 Location: DFW Texas, USA iTrader: (0)	Me and wife put our money together. We each put 3% of our paychecks into our 401k because thats what the company matches. We get paid weekly. On a 4 week month we just pay our bills and put the rest in bank. On five week payed months we use that extra paycheck to blow on whatever we want. We have 5 months worth of mortgage payments in the bank, 1 million dollar life insurance on each of us at the cost of 3 dollars a week, and excellent health coverage by unitedhealthcare. Im not really into saving money. Life is too short. __________________
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09-24-2011, 12:46 PM	#5
MDyDinanM OIF Veteran 246 Rep 2,106 Posts Drives: ///M Join Date: Oct 2009 Location: East Coast iTrader: (0) Garage List 2008 BMW M5 [6.88]	3.5% into 401k company matched $250/month into my banks IRA and depending on the month, $1500-2000 into savings/brokerage/mutual funds $50-$100 into an annuity the rest is mortgage, and CC bill, utiliities, groceries, whatever __________________ Retired: '06 BMW E46 ///M3 Current: '08 BMW E60 DINAN ///M5, Interlagos Blue, SMG DINAN Stage 2 Suspension, Exhaust, Stage III Software, Front strut braces, Intakes, 13% Underdrive pulley, 3.91 Differential, RPI Scoops.
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09-24-2011, 01:42 PM	#6
TK-421 Registered Sex Offender 573 Rep 4,759 Posts Drives: E46 M3 \| 1JZ S13 Join Date: Jun 2007 Location: Tampa, FL iTrader: (0)	I'm a college kid with a full-time job and full tuition scholarship so I give 33% to my dad (aggressively invests for me right now), $100 a month towards my housing loan, and the rest on college shit (mostly car stuff and drinkz). __________________ Stop putting stuff like painted reflectors and premium package in your signature. You're embarrassing.
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09-24-2011, 07:19 PM	#9
ToothDoc Second Lieutenant 5 Rep 241 Posts Drives: 997.2 TTS, CLA 45 AMG Join Date: Aug 2007 Location: Chicagoland iTrader: (0)	Mine's simple. 0% retirement, 0% savings, 100% living expenses and loans. Once all the loans are gone (mortgage, business loan, LOC, tuition) I can pretty much put 50% into retirement/savings.
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09-24-2011, 07:58 PM	#10
M3Bahn Lieutenant 321 Rep 483 Posts Drives: M3 Join Date: Mar 2011 Location: ATL iTrader: (0)	Convert all cash to hookers and blow. __________________ The journey is the reward.
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09-24-2011, 08:36 PM	#11
SilverII Colonel 40 Rep 2,334 Posts Drives: '11 335IS Join Date: Jun 2010 Location: DFW iTrader: (0) Garage List 2011 BMW 335IS [9.66]	1k to car 20% to 401k 1k to mortgage 1.3k to expenses
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09-25-2011, 02:14 PM	#13
Javi335 Troll but nice 164 Rep 341 Posts Drives: 335i E92 Join Date: Nov 2009 Location: Returning videotapes iTrader: (0)	i throw my money as if my life was a Hype Williams video __________________ There was me, that is Alex, and my three droogs, that is Pete, Georgie, and Dim, and we sat in the Korova Milkbar trying to make up our rassoodocks what to do with the evening. The Korova milkbar sold milk-plus, milk plus vellocet or synthemesc or drencrom, which is what we were drinking. This would sharpen you up and make you ready for a bit of the old ultra-violence.
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09-25-2011, 09:55 PM	#16
335i101 Lieutenant 79 Rep 586 Posts Drives: 2008 E60 M5 Join Date: Dec 2010 Location: ND iTrader: (2)	6% to 401k to get match 415.00 to Roth Ira 250.00 into college fund Spend the rest! __________________ 2021 Mercedes G550 2015 X5M 2020 Supra-JB4, DP 2008 M5 with muffler delete-sold 2007 650i-sold 2008 335i-JB4, DP, Meth-sold
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09-26-2011, 11:24 AM	#19
stefan Brigadier General 2350 Rep 4,253 Posts Drives: M2 Comp Join Date: Feb 2008 Location: North iTrader: (2)	Of what I make monthly, 20% to car, 35% to house/mtg/etc, 10% to savings/mutual funds, 40% general spending, bills, internet, etc. Granted I'm 25.. I do plan on increasing MF contributions as I make more cash. Car came first though __________________ ///M Power
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09-26-2011, 02:45 PM	#20
venom3469 First Lieutenant 46 Rep 337 Posts Drives: 08 AW/R 6MT 335i, YZF-R6. Join Date: May 2011 Location: Florence, Alabama iTrader: (0)	I'm also in college, my mom does take care of my gas and food. Oh and college that's nice! I go to work and school full time. I have a roommate and we split it down the middle. Rent: 350 (includes utilities also) R6: 75 (minimum, I normally do 250) 335i: well I sold my mustang (10k profit I also put down 2k I had) and my R6 is up for sale! Mom pays it until I graduate college.(2 years) I spend a lot of my money on beer and other college expenses haha. The rest on upgrading the 335i! I'm blessed for my mom and I love college! __________________ 08 335i Alpine White/Coral Red Interior With A PROcede Tune!! 09 Yamaha R6!!
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09-26-2011, 02:51 PM	#21
MrRoboto Brigadier General 1846 Rep 4,836 Posts Drives: VO 1M Join Date: Aug 2007 Location: Canada iTrader: (0)	Originally Posted by SilverII 1k to car 20% to 401k 1k to mortgage 1.3k to expenses Originally Posted by LACSTER What I thought the same thing...SilverII, you need to call Dave Ramsey.
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09-26-2011, 03:07 PM	#22
Pcemkr Pro Hater 49 Rep 1,717 Posts Drives: Low and slow Join Date: Apr 2011 Location: DC iTrader: (1)	$1600 rent $50 parking $50 fixed utilities/amenities $85 Comcast cable/internet $400 car 6% 401k $500 food/drinks $100 metro fares Remainder to savings Last edited by Pcemkr; 09-26-2011 at 04:40 PM..
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