[Severian]

Originally Posted by EVOLghost

Yo!!!!! That's awesome man. Happy to hear that. I hope everything works out in your favor and you really enjoy the new position.

Merci, mon frere!

It's all a bit uncertain at this point, because I'm currently juggling what amounts to 2 jobs at my place of work. This position needs to be a "right fit," not just for my boss, but for me, since I will have to give up one of my current roles if I take it. It's a job that I have been interested in for many years actually, but I've been interested in doing it in a slightly different environment. So, we shall see. As of tomorrow morning I will begin working three "jobs" temporarily and checking in with my boss periodically to see how I'm feeling about it, and whether I want to let one of my current jobs go, and who it should go to (most likely a freelancer who I will feel compelled to micromanage and check up on) or just keep things as they are and work this new job until they find a replacement for that (which would be much more difficult).

I'm actually rather terrified. I'm keeping it a secret from friends and family for the time being, and even from co-workers. My editor and my publisher I are the only ones who know that I'm giving this a go.

But it could be really good if there works. My "wifey" (girlfriend of almost 10 years) is about to leave on an indefinite soul-searching trip, and I could use the extra work to fight the crippling sadness and anxiety this is sure to induce.

I'm cautiously optimistic at this point. And I'm grateful and keenly aware of how fortunate I am to have an editor who is letting me test drive a new position, and take it or pass on it depending on how it goes. That's real white middle class male American privilege for you, and I'm not blind to that.

[Severian]

Originally Posted by !@#$%!

nothing like a new position to make life entertaining!

 

CONGRATS

remember though, it's not how much you make but how much you KEEP. think in terms of net worth, and your savings rate, and what part of your income are obligations and which are wants-- not just raw salary. even millionaires go bankrupt (and become presidents of amerikkka)

you started on the elizabeth warren book yet? she'll save you from slaughter

Haven't started on it yet, no, but only because I've been working non-stop since you recommended it to me. That project is done (finally, thank the gods), and I will hopefully have time to read it soon.

I did order it.

[!@#$%!]

Originally Posted by Severian

Haven't started on it yet, no, but only because I've been working non-stop since you recommended it to me. That project is done (finally, thank the gods), and I will hopefully have time to read it soon.

I did order it.

from the library, yes?

--

i'll give you the barebones explanation (this is bad, because it leads to wide misinterpretation as the internet illustrates)

basically she splits your income into 3 parts: needs, wants, and savings

needs are very specifically defined, not as in "i need this" but in very specific ways for which you need to read the book. like, $200/mo a week for grocery is your "needs", whatever you buy above it is wants. this due to the department of agriculture's etc etc. but the other things is like housing transportation etc etc.

but basically you want all your mandatory financial obligations to stay at/below 50%

the reason for tis is that if they're above that% you're gonna be always stressed out/under the gun/ under pressure with no money to a) save or b) have fun, and you might go into debt whenever you wanna just relax.

for wants she allots 30% of your take-home pay and this is dedicated exclusively to fun. that includes your fancy beer or comic books and computer games or whatever *as long as it's not on contract*. (so, netflix qualifies, but a 2-year cable deal you must pay or face fines, is a "need")

the great thing about her is that unlike other writers (dave ramsey for example, and various "extreme" bloggers)she makes allowances for fun & life even within the mainstream consumerism. BUT she puts a limit to it. and because it's a separate bracket from your needs you don't have to fear that your beer money is gonna eat into your mortgage payments. they go into different buckets/envelopes

but some people do that, go overboard with wants-- some people think they "deserve" this and that and the other and then get into shit for it (i have a friend just like that. "deserves" trips she can't afford and deserves to get carryout from whole foods every day and then now is fighting megadebt. but anyway...)

for savings warren says 20% and explains to you why and how etc. "savings" however includes stuff like debt repayment-- anything that goes toward increasing your net worth because that's the true measure of poverty and wealth. if you make $30K a month and have to pay out $31K every time, you're broke.

so the way this works a little bit is like bodybuilders with their macronutrient ratios.

again unlike other pf writers she doesn't ask you to pinch pennies and track every last cent and spent your saturday night poring over your receipts (other people do, and that's just impossible to maintain for most people).

instead she just asks you to stick to the ratios, and enjoy life while your money is on autopilot.

of course you need to carry out your periodical audits and track every cent, but that's only at the beginning of the experiments and then as things change or if something is broken. like getting an x-ray. you dont' need daily/weekly/monthly x-rays.

anyway i'm letting you know this so you know what to look forward to. it's the easiest, most honest, most existentially significant plan i've ever come across-- and i've read tons of books about this subject, from the douchy to the insane. and it works, it really works, and i swear by it. the categories and ratios make a ton of sense and are "real" because they reflect how money really works in our lives.

okay i gotta go drink beer now. which is a want. ha ha ha ha ha ha

[Severian]

Originally Posted by !@#$%!

from the library, yes?

Actually yeah. Seriously, from the library. On inter-library loan.

If I hadn't used the library I would have just said "I downloaded it." Or "I bought it."

[!@#$%!]

Originally Posted by Severian

Actually yeah. Seriously, from the library. On inter-library loan.

If I hadn't used the library I would have just said "I downloaded it." Or "I bought it."

let's see if this shit works. probably won't. and i'll ahve to edit

 

oh, it looks like it worked!

good job

[Severian]

Originally Posted by !@#$%!

from the library, yes?

--

i'll give you the barebones explanation (this is bad, because it leads to wide misinterpretation as the internet illustrates)

basically she splits your income into 3 parts: needs, wants, and savings

needs are very specifically defined, not as in "i need this" but in very specific ways for which you need to read the book. like, $200/mo a week for grocery is your "needs", whatever you buy above it is wants. this due to the department of agriculture's etc etc. but the other things is like housing transportation etc etc.

but basically you want all your mandatory financial obligations to stay at/below 50%

the reason for tis is that if they're above that% you're gonna be always stressed out/under the gun/ under pressure with no money to a) save or b) have fun, and you might go into debt whenever you wanna just relax.

for wants she allots 30% of your take-home pay and this is dedicated exclusively to fun. that includes your fancy beer or comic books and computer games or whatever *as long as it's not on contract*. (so, netflix qualifies, but a 2-year cable deal you must pay or face fines, is a "need")

the great thing about her is that unlike other writers (dave ramsey for example, and various "extreme" bloggers)she makes allowances for fun & life even within the mainstream consumerism. BUT she puts a limit to it. and because it's a separate bracket from your needs you don't have to fear that your beer money is gonna eat into your mortgage payments. they go into different buckets/envelopes

but some people do that, go overboard with wants-- some people think they "deserve" this and that and the other and then get into shit for it (i have a friend just like that. "deserves" trips she can't afford and deserves to get carryout from whole foods every day and then now is fighting megadebt. but anyway...)

for savings warren says 20% and explains to you why and how etc. "savings" however includes stuff like debt repayment-- anything that goes toward increasing your net worth because that's the true measure of poverty and wealth. if you make $30K a month and have to pay out $31K every time, you're broke.

so the way this works a little bit is like bodybuilders with their macronutrient ratios.

again unlike other pf writers she doesn't ask you to pinch pennies and track every last cent and spent your saturday night poring over your receipts (other people do, and that's just impossible to maintain for most people).

instead she just asks you to stick to the ratios, and enjoy life while your money is on autopilot.

of course you need to carry out your periodical audits and track every cent, but that's only at the beginning of the experiments and then as things change or if something is broken. like getting an x-ray. you dont' need daily/weekly/monthly x-rays.

anyway i'm letting you know this so you know what to look forward to. it's the easiest, most honest, most existentially significant plan i've ever come across-- and i've read tons of books about this subject, from the douchy to the insane. and it works, it really works, and i swear by it. the categories and ratios make a ton of sense and are "real" because they reflect how money really works in our lives.

okay i gotta go drink beer now. which is a want. ha ha ha ha ha ha

Thanks!

I did read a pretty exhaustive synopsis (that's not the right word though is it? Yeah? Nah? Who cares) before I even looked for it, but what you've said here is super helpful. The mechanics of this make sense to me.

To be honest, I'm usually OK money-wise even though I don't make what I once did. Part of the reason for that is that I moved from the city to the relative boonies, and inherited a house. I can't believe how much cheaper it is to live in nowhere's asshole than it ever was to live in the heart of everywhere. It's depressing at times, but good for the finances.

My PROBLEM is that I've really only known two ways of living: 1.) making slightly more than I need, and 2.) making much, much less (e.g. 2014 unemployment, grad school). Now I'm making less than I was in 2012 by a pretty wide margin, and can no longer afford to, say, buy iPads just because I fancy an iPad, or travel. As I said, I'm usually OK, but I need to learn how to deal with suspense expenses -- like a new furnace plus paying nearly a grand in taxes plus getting my car fixed all in one terrible 4-week period -- without absolutely fucking losing my motherfucking mind.

So I'm totally down. I'll let you know how it goes and how I like the book. I love Sen. Warren, btw. I like to watch videos of her hurling questions at Garsuckkk and company on CSPAN just because she talks like she gives zero fucks about coming across as a "bitch," and in fact doubles down on the things that sound the "bitchiest." Bigger cahones than any man in the Senate.

[!@#$%!]

Originally Posted by Severian

My PROBLEM is that I've really only known two ways of living: 1.) making slightly more than I need, and 2.) making much, much less (e.g. 2014 unemployment, grad school).

if you're just making slightly more than you need then you have no room for fun and savings and that's both boring and terrifying, just chained to a wheel of obligation with no security.

the thing about fixed expenses though is they can usually be cut down with some determination and intelligence though. she'll explain it in detail in the book.

if by "need" you meant "spend" then the book will help you reframe that word so you're conscious of what is essential and what is optional-- in a technical sense not a philosophical one.

Originally Posted by Severian

Now I'm making less than I was in 2012 by a pretty wide margin, and can no longer afford to, say, buy iPads just because I fancy an iPad, or travel.

well you can probably still afford the ipad but you might have to give up other things like restaurants or various "wants." it's want vs. want. it's a lot less stressful than wants vs. survival.

Originally Posted by Severian

As I said, I'm usually OK, but I need to learn how to deal with suspense expenses -- like a new furnace plus paying nearly a grand in taxes plus getting my car fixed all in one terrible 4-week period -- without absolutely fucking losing my motherfucking mind.

yeah, that's #1 reason why savings are necessary. as a cushion for such emergencies. most people deal with this by going deeper into debt, which is... terrible. but understand that if you don't have savings to ride out such pitfalls you're not doing okay

Originally Posted by Severian

To be honest, I'm usually OK money-wise even though I don't make what I once did. Part of the reason for that is that I moved from the city to the relative boonies, and inherited a house. I can't believe how much cheaper it is to live in nowhere's asshole than it ever was to live in the heart of everywhere. It's depressing at times, but good for the finances.

sees to me that your situation is giving you a great opportunity to really really really get your shit together, so you could eventually GTFO of there if you wanted, and with a little nest egg to boot. provided you get your shit in order first. i mean, if your house is already paid off (don't care who paid it) you're already on the way to early retirement.

most people spend a good chunk of their income in rent or mortgage, and take the longest-ass mortgages they can handle like 30 years... can you imagine paying for anything for 30 years? well...

on top of that it's recommended that housing payments take no more than 30% of your income.

if you could save that 30% plus add the 20% from the balanced money formula, that would be 50% of your money getting invested every month.

at that clip, could "retire" in something like... 16 years i think?

see: http://www.mrmoneymustache.com/2012/...ly-retirement/

BUT ANYWAY. i'm not saying "do this". just showing you the possibilities. the boonies and low expenses give you more than a chance to survive. they can be your financial ghetto gym like... rocky 3 was it? rocky 4? i forget which one, they're all a blur, ha ha ha. eye of the tiger! you know the one i mean. lol.

ok-- gtg work buddy. there's a sports game at lunchtime and i need a clear schedule.

[h8kurdt]

Back from Seville after an amazing holiday. Did things that I wouldn't have been able to do were it not for having Spanish contacts and friends. Ate incredible food, drank some great wines and saw mind blowing things. Totally recommended.

Why I said I'd go back to work tomorrow I'll never know.

[Severian]

Originally Posted by !@#$%!

if you're just making slightly more than you need then you have no room for fun and savings and that's both boring and terrifying, just chained to a wheel of obligation with no security.

I misspoke. Mis-typed. MIs-thought... whatever. What I meant was, prior to 2 years ago, I had only ever either made kind of a lot (especially with my girlfriend also working full time) or made virtually nothing. Now I'm in situation where I'm doing something I really enjoy and pretty much barely making enough to save at all. I need to learn how to live within my means, like, for realz.

Originally Posted by !@#$%!

sees to me that your situation is giving you a great opportunity to really really really get your shit together, so you could eventually GTFO of there if you wanted, and with a little nest egg to boot. provided you get your shit in order first. i mean, if your house is already paid off (don't care who paid it) you're already on the way to early retirement.

most people spend a good chunk of their income in rent or mortgage, and take the longest-ass mortgages they can handle like 30 years... can you imagine paying for anything for 30 years? well...

I mistyped again. Meant to say "surprise" expenses. But I think you got that. Not sure what a "suspense expense" would be. Whatever.

Anyway, unfortunately the house is no longer paid off. It was paid off by my mom years ago, but she felt she took out a second mortgage when my grandmother's medical bills became more than we as a family could pay for. At this point it's mostly paid off again, thank goodness, and I make monthly payments that are not too bad. Less than rent for a city apartment. I lucked into the whole situation. I originally came here just to fix the place up, ad when I got my job it just became my home, and now it's been deeded to me. Lucky white boy, me.

I appreciate your recommendations. I can't promise that this book is going to do a thing, but I feel very compelled to read it now. Besides, changing my life is up to me... bootstraps and whatnot — though pulling oneself up by one's bootstraps, if you think about it, just means falling down again... baaahahahaha!

Anyway, much 'preciated.

[!@#$%!]

oh, by "suspended expenses" i thought you meant delayed gratification or something, aaaa haaa haaa haa

the bootstraps metaphor is a ridiculous/absurd one and won't apply to you of course-- you have a roof over your head and plenty of schooling.

but yeah, the quality of a system's management makes a massive difference in outcomes

[Severian]

Holy jeez. I think I might have typed that entire last entry with my face. So many typos. Must work on that. #YOLO

[EVOLghost]

Today's dinner. Half of a chicken finger dinner from Raising Canes and 5 10mg edibles....uh oh.

[Bytor Peltor]

Originally Posted by EVOLghost

How's everything with you Peltor? Staying busy?

YES - things are very busy. Mothers Day is next week so things will be extra busy at the Flower Shop. Of course, I'm still working my regular job......later this month, my wife and I are attending a retirement workshop. 2020 will make 30 years for me working for the County and I'm eyeing that as my possible retirement. Also, our youngest graduates High School in 2020. Speaking of, she and I have dad & daughter dance rehearsal this evening, gearing up for her Dance Recital in June.

[Lowfly]

I'm (maybe while you are reading this still) the newest member on board. Not the most dedicated, smartest, or best looking, just the newest. Thank you.

[EVOLghost]

Welcome. Newfly

[Severian]

Working three jobs simultaneously without a clear-cut timeline for when it will end is... challenging.

I certainly am working a lot of hours and sleeping very little though!

[EVOLghost]

Dang dood. 3 jobs. Are they like freelancing jobs? I know you just got a promotion n stuff....but what are they other two if you don't mind me asking

[!@#$%!]

Originally Posted by EVOLghost

Dang dood. 3 jobs. Are they like freelancing jobs? I know you just got a promotion n stuff....but what are they other two if you don't mind me asking

i dont think it's freelancing-- it's just a "new position" that's actually all 3-in-one. check the picture i posted again

 

see? 3 jobs!

[EVOLghost]

Ahhhh. I hear ya.

[tesla69]

I just had to extract a stinky dead mummified mouse from behind my kitchen lightswitch with needlenose pliers