open All Channels
seplocked Out of Pod Experience
blankseplocked I just found $100.
 
This thread is older than 90 days and has been locked due to inactivity.


 
Pages: 1 [2]

Author Topic

Tallaran Kouros
Cryptonym Sleepers
Posted - 2009.06.11 10:31:00 - [31]
 

Originally by: Akita T

Consider you earn minimum wage, around 7$/hour, and you only work 40 hours a week. That's 14560$ a year.
You could find adequate housing for as little as 200$/month even in a larger city (it won't be comfortable, sure, but them's the breaks), add another 200$/month for various utilities and public transportation expenses, you could purchase food necessary for survival for far less than 300$/month, so you're looking at around 8.4k a year mandatory expenses, tops, and that's actually a generous figure.
You could purchase a low-mid-range computer every year for around 500$, spend another 1k a year on various articles of clothing (practical ones, nothing flashy nor brand name), maybe even spend another 1.6k a year for entertainment purposes (a vacation, a movie now and then, taking a cab instead of public transport, whatever).
That's 11.5k consumed a year, out of 14.5k earned. Put those 3k extra in the bank at 5% interest rate (sounds reasonable enough), or even invest in something (riskier, but feasable).
At the end of 10 years, that 3k a year plus interest will turn into 34.7k ! And that's savings from a MINIMUM WAGE job at the minimal full norm.

Imagine what you could do with a decent salary.



I earn a "decent salary" - twice what I earned three years ago which was itself three times the annual grant I lived off as a student.

I accept the principle of what you are saying but the reality is a bit different - as your income increases then your lifestyle generally expands to encompass all the things you couldn't afford before.

Sure, I could live somewhere dirt cheap in a bad area, but I don't want to live next to drug dealers and immigrants when I can afford to live in a nicer area nearer the city centre, where the nightclubs and all my friends are.

A few years ago I simply couldn't afford my own transport whereas now I have a motorcycle, which means expenditure on protective clothing, insurance, tax and petrol.

I no longer need to eat the cheapest, unhealthiest foods and can afford to buy better quality stuff.

In short, yes I could live like a pauper and put lots and lots of money into the bank but it wouldn't give me a good standard of life.

Each month I still put some cash into an ISA and a savings account, but put simply I went to University so that I could get an education, a good job and in turn raise my quality of life and provide a better life for my children than my parents provided for me.

I guess that's my personal choices though :)

Akita T
Caldari Navy Volunteer Task Force
Posted - 2009.06.11 13:14:00 - [32]
 

I was only making a point that saving considerable amounts of money even from a minimum wage is at least theoretically possible.
Wink

The main thing I was trying to drive through with that example was not the fact you (the generic "you", not you personally) do not NEED to spend all available money, nor borrow money via credit cards... it's only that you WANT to do that, in order to experience a higher standard of living. If you really want to save money, you can save money, but you have to accept a certain reduction in your lifestyle level.
This was all triggered by the "I found 100$, what should I spend it on" question of the OP - why assume you have to spend money you found, if you can simply put them into savings instead ?

That was the whole idea Twisted Evil

Tallaran Kouros
Cryptonym Sleepers
Posted - 2009.06.11 13:36:00 - [33]
 

Originally by: Akita T

The main thing I was trying to drive through with that example was not the fact you (the generic "you", not you personally) do not NEED to spend all available money, nor borrow money via credit cards... it's only that you WANT to do that, in order to experience a higher standard of living.



Can you explain that point to my other half?

She likes to spend all her money when she gets it then gets grumpy when I go out with my friends throughout the month.

Her choice not to keep money back I guess :)

jason hill
Caldari
Clan Shadow Wolf
Fatal Ascension
Posted - 2009.06.11 15:12:00 - [34]
 

hmmm techically in the uk finding is classed as stealing .... but meh ...its a stupid law ..but for me hookers a beer if i where in your shoes Very Happy

Bad Harlequin
Minmatar
Sebiestor Tribe
Posted - 2009.06.11 19:44:00 - [35]
 

Originally by: Janice Jankowski
Originally by: Cyprus Black
I don't really need it and was considering giving it to some drunk homeless dude. I have no idea what to do with it.


If you really want to do this, use it to buy food and give em the food

^

Or if not, i am quitting the economy. I have SOLD off my stuff and am giving everything away! If you send me at least $100 i will give you 3x what you send!

Fink Angel
Caldari
The Merry Men
Posted - 2009.06.12 09:14:00 - [36]
 

Erm, just buy $100 worth of things that you like?


Pages: 1 [2]

This thread is older than 90 days and has been locked due to inactivity.


 


The new forums are live

Please adjust your bookmarks to https://forums.eveonline.com

These forums are archived and read-only