@lisaf Yeah it seems to me that *no one* is really taught how to handle their money. I don't think parents of girls *or boys* give them a very thorough financial education and there certainly isn't anyone teaching this in high schools.
Great that they were able to pay off their student loans, but it seems like they just kind of traded that loan in for credit card debt? I'm planning on moving to Germany this Fall and while I'll have about $10,000 CAD saved up before I leave I'm still nervous about bring my $7,000 loan with me. I only pay $300/mo into it, which won't break me while travelling / getting set up in Berlin with the savings I'll have but it would still be nice to go abroad without being bound by a loan back in Canada.
I can't imagine why anyone would want to live in suburbs since they have always seemed much more expensive than living in a city. I live in a big city in a busy neighbourhood. I don't even need a bus pass since I can walk to work, my grocery store is 24 hours and is one block away, if I want to go to a pub or club or restaurant, there are a tonne on my street, I'm a thirty minute bike ride away from the beach. If I were to move to the suburbs I'd have to buy a house, and then buy a car, and then constantly be buying gas because suburbs are so spread out that I'd not only have to drive to work but to the grocery store and to meet up with friends as well... AND I'd have to buy home and car insurance and who knows what else -- a lawnmower!? The consumption needed to maintain a suburban lifestyle seems to never end.
@gyip "The only trouble with those is that you do have to have money to invest in the first place." Yes, this. I've never had an in-depth conversation about money with my parents but from what I've picked up over the years, they were far too busy working just to feed and house and clothe us that they didn't have much left over for savings. I mean, they're both in their 60s and are still working because they were never able to save for retirement much less tuition for three kids. (They are moving in with my brother, the oldest of us, sometime this year though, so they should hopefully be able to stop working soon.)
I'm 34. I moved out of my parents' home at 18 and they haven't helped me financially since. I took out a student loan for school (about $20,000 which I paid off in full this year), have always worked to pay my own rent, bills, if I want to visit them, I pay for the airfare to do so, etc. They've never offered financial assistance for anything and I've honestly never thought to ask. I just wasn't raised to expect that from them as an adult. I do really appreciate having been raised to be entirely self-sufficient but it does twinge a little pang of jealousy in me to see all these comments from people who got their tuition, rent, and even bus passes subsidized. Are all your parents millionaires!? How can they afford to that?
Every day I bring my lunch I deposit $10 into my savings account. It's the only thing that's ever worked for me. I'd always known that bringing lunch saves me money but it just seemed like too nebulous of a goal, like how much am I saving? Where’s it going otherwise? What am I spending it on instead? Now I can actually *see* the savings at the end of the month which is a big incentive, even if it's only $60.
I was the Jane in this post (http://thebillfold.com/2013/07/dick-and-jane-both-work-hard-but-jane-pays-the-bills/) about how my ex and I did money (tldr: I paid for everything, he paid for nothing, we were always in the red). Just thought I’d give an update to all those who were “DTMFA!”… Well, I did! Not entirely for financial reasons, but that did definitely play a part. I made a little breakdown of how my finances measure up from last year when were together to this year. My rent has decreased from $1300/mo to $850/mo but my bills haven’t gone down that much because my ex left me with $9,000 in debt that I pay $300/mo towards (I consolidated credit card & line of credit debt for a 3 year term loan with a 2.5% + prime interest rate for those interested. I received a tax refund for the first time in years by filing as single instead of commonlaw after we broke up that I used to pay off my student loan so I currently have no other debt). Overall, my income and my expenses are more or less about the same, but I now have the freedom to spend my money the way I want to and the peace of mind to not have to be constantly checking my account balance every day to make sure I can afford coffee in the morning (living with my ex meant my bank balance would consistently go below $0 and we’d use my Visa or line of credit to buy groceries and other basics every month). So even though the monetary value of being single isn’t that large — the emotional value of living alone in a place I love that’s close enough to walk or ride my bike to work, of not having to look after anyone other than myself, of not feeling weighed down by financial stresses, of being able to spend the money I earn on the friends I love and even on a vacation with my mom while still having enough left over to start a TFSA (and soon a RRSP) is immeasurable. Anyways, here’s my before and after: 2013 (dating) / 2014 (single) I keep track of every nickel I spend in an excel spreadsheet, these are rounded totals. My income is about $3,000/mo (depending on how many shifts I work) Bills (rent, hydro, phone, loan, etc) $1,750 / $1,570 (down a bit, even considering the term loan) Ex (his drugs, his work supplies…) $360 / $0 (down obviously) Beauty (clothes, make-up, hair cuts…) $160 / $280 (up since I now have the money to spend on myself) Fun (shows, vacation, going out with friends…) $45 / $290 (up – this is a good thing! Spending time with friends! Having fun! This is still very novel and exciting) Food (groceries, morning Starbucks, eating out at restaurants…) $550 / $490 (down even tho I’m eating out with friends a lot more) House (cleaning supplies, toilet paper, laundry…) $55 / $95 (up mostly due to having to buy a new bed and other things when I moved) Savings $0 / $500 (up! It’s so exciting to have real, actual savings and not just money I put aside that I later have to pull out at the end of the month because my ex spent all our money on pot)
I think I'm one of those rare people that will literally enjoy sitting anywhere. Saw Gravity in 3D while sitting in the front row and it was great because we felt completely engrossed in the film. And then I saw Catching Fire alone and sat in the last row, centre seat, and thoroughly enjoyed not having anyone behind me so I could be completely inconspicuous crying with District 11 and eating my homemade smuggled snacks.
Being able to manage people's lives like this seems like such a superhero skill. She's a real life Alfred!
@NoName Ohhh that's a great line.