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Guinness posted:I think you mean ascetic. An aesthetic life would kind of imply one of consumption and luxury. Yes, of course. That's what I get for not proofreading
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Apr 15, 2014 19:01
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I think a lot of the problem with being a "millionaire working at McDonalds" is the uncertainty. If folks that aren't making a lot of money or make good choices still don't see themselves coming out ahead its pretty tough to see how you can somehow come out ahead by following some kind of method. I think its a large part of why people trend back to the mean of wherever they are before an influx of cash. Folks just aren't sure on what to do and whether it will pay off. Also it would be important to factor in quality of life. If you become a millionaire at age 50 but lived a completely spartan life style from ages 18-49...is that worthwhile for everyone? I'm not sure it is for a lot of people. I know I want to be financially secure and smart but I also don't want to look at 4 blank walls for 6 years just to make sure I have an extra 1% in my 401k.
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Apr 15, 2014 19:01
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I'm betting the marshmallow test administered at age 5 would be a better predictor of credit card debt at age 40 than any amount of financial literacy education.
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Apr 15, 2014 19:10
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Jastiger posted:Also it would be important to factor in quality of life. If you become a millionaire at age 50 but lived a completely spartan life style from ages 18-49...is that worthwhile for everyone? I'm not sure it is for a lot of people. I know I want to be financially secure and smart but I also don't want to look at 4 blank walls for 6 years just to make sure I have an extra 1% in my 401k. People who live a life full of joy even if they have "4 blank walls for 6 years" are pretty admirable, in my opinion. That is a thing to strive for.
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Apr 15, 2014 19:17
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Jastiger posted:I know I want to be financially secure and smart but I also don't want to look at 4 blank walls for 6 years just to make sure I have an extra 1% in my 401k. That's a false dichotomy. You could be living off of $40k a year with a paid off house, and have a part-time job or your hobby that makes you a little more money. If we really could just spend money on essentials for 6 years it would bring most of us a lot more than an extra 1% in a 401K.
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Apr 15, 2014 19:18
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"I don't want to live in a cardboard box and eat Alpo" is an excuse people make to avoid saving for retirement. That's a good way to end up living in a box eating Alpo!
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Apr 15, 2014 19:25
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GoGoGadgetChris posted:"I don't want to live in a cardboard box and eat Alpo" is an excuse people make to avoid saving for retirement. That's a good way to end up living in a box eating Alpo! I know, right? Save enough for Fancy Feast at least.
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Apr 15, 2014 19:29
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Engineer Lenk posted:I'm betting the marshmallow test administered at age 5 would be a better predictor of credit card debt at age 40 than any amount of financial literacy education. The marshmallow test is actually a better indicator of "how poor is the household you're growing up in?", which probably has some predictive effects about debt levels at age 40 anyway. Here's a guy. http://www.reddit.com/r/personalfinance/comments/233lfv/im_in_way_over_my_head_and_need_help/ Took out a 6 year car loan on a $14k used car with 51,000 miles at a 14% interest rate  . Also spends $76/month on a gym membership, which at $76/month I am going to assume is inside a solid gold Saudi palace.GoGoGadgetChris posted:"I don't want to live in a cardboard box and eat Alpo" is an excuse people make to avoid saving for retirement. That's a good way to end up living in a box eating Alpo! Dog food is not nutritionally complete. You need primate chow. There was a guy who did an experiment to try to eat nothing but monkey chow for 7 days, and had to give up after three days. Sadly, the website is gone 
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Apr 15, 2014 19:35
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canyoneer posted:Also spends $76/month on a gym membership, which at $76/month I am going to assume is inside a solid gold Saudi palace. I spend $129/month, but it's a gym membership with Crossfit. It's not unheard of.
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Apr 15, 2014 19:42
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Nocheez posted:That's a false dichotomy. You could be living off of $40k a year with a paid off house, and have a part-time job or your hobby that makes you a little more money. If we really could just spend money on essentials for 6 years it would bring most of us a lot more than an extra 1% in a 401K. Totally you could. $40K a year is a good income to live on in the Midwest. The thing I was talking about was the paid off house. That is kind of a tough thing to do, otherwise most people wouldn't have mortgages right? Its the debt that gets people.
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Apr 15, 2014 19:45
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LorneReams posted:I spend $129/month, but it's a gym membership with Crossfit. It's not unheard of. That is loving insane to spend on a gym membership. Crossfit shocks me with how easily they separate people from their money.
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Apr 15, 2014 19:50
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City gyms are easily $76. I pay iirc $65 for mine and everyone's jealous. Even the Y or employer-assisted plans are pricier than my deal, and Power Fitness isn't really a thing here (New York). Maybe I'm being too generous but I assume he lives somewhere similar.
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Apr 15, 2014 19:56
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i like nice words
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Nocheez posted:That is loving insane to spend on a gym membership. Crossfit shocks me with how easily they separate people from their money. That's more judgment then anything else. I'm sure some people think it's insane to spend $60 on a video game, or $400 on a PS4, or $1500 on a computer, etc.
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Apr 15, 2014 19:57
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Nocheez posted:That is loving insane to spend on a gym membership. Crossfit shocks me with how easily they separate people from their money. People spend money on their hobbies?! Why I never! 
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Apr 15, 2014 20:06
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I pay 61 a month for my gym, but it's within walking distance of where I live. I could have paid 30 a month and had to drive 15 minutes each way. SAved me money in th elong run. Though yeah 61 is hefty for the area.Nocheez posted:That is loving insane to spend on a gym membership. Crossfit shocks me with how easily they separate people from their money. Actually if that includes crossfit it's a good price. I get it. It's only insane if you also don't cut back on other things. Especially if that price tag motivates you to go.
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Apr 15, 2014 20:18
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Specialized gyms do cost more than an average 24 Hour Fitness or whatever, shocker. My membership to my climbing gym is $66/mo which is pretty typical, if not even on the slightly cheaper side for a major city. Though they do have weights, cardio, a yoga studio, and saunas in addition to 25,000 sqft of bouldering... As long as you actually make use of your gym membership then I don't think it's bad with money. But I do have to say that the crossfit gyms are notoriously expensive even compared to other specialized gyms. Guinness fucked around with this message at 20:51 on Apr 15, 2014 |
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Apr 15, 2014 20:48
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Nocheez posted:That is loving insane to spend on a gym membership. Crossfit shocks me with how easily they separate people from their money. This is dumb. Crossfit isn't just you show up and run on a treadmill and use some dumbbells. Do you really have no hobbies you spend money on? If they're being frugal elsewhere $129 is a small indulgence for something with much better benefits than videogames or spending one happy hour a week at the bar.
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Apr 15, 2014 20:55
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Ha, my girlfriend spends $500 a month at her gym. It's a specialized gym (lots of kettle bells and deadlift mats and such) but as far as I can tell the only reason for the champagne price is that she can have as many private personal training sessions as she wants. I think it's totally absurd but I don't say anything because I spend at LEAST the same amount on "stuff" every month. I just realized this is a highly appropriate thread for me to be in.
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Apr 15, 2014 21:05
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Well let's look up crossfit... oh there's one in my town let's see the price. $150 a month for a 3 month term. I'm in a town of roughly 10,000 (According to 2010 census. So yeah crossfit appears to be expensive.
Duck and Cover fucked around with this message at 21:24 on Apr 15, 2014 |
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Apr 15, 2014 21:14
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GoGoGadgetChris posted:Ha, my girlfriend spends $500 a month at her gym. It's a specialized gym (lots of kettle bells and deadlift mats and such) but as far as I can tell the only reason for the champagne price is that she can have as many private personal training sessions as she wants. That's a pretty sick value if she's competitive. If she's not, then whatever, the investment is worth it if it prevents a few injuries. Though she'll never know what she "saved".
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Apr 15, 2014 21:14
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Yeah same here. I literally just sat down and worked out my expenses for this month *so far*. Long story short,  Edit: gently caress it don't want to tease. I started the month with ~£1400 in my debit account (Not savings!) I'm now down to ~400. DrAlexanderTobacco fucked around with this message at 21:39 on Apr 15, 2014 |
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Apr 15, 2014 21:15
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DrAlexanderTobacco posted:I started the month with ~£1400 in my debit account (Not savings!) I'm now down to ~400. My wife started the week with $900 and is down to $400 and hasn't paid her ~$200 car payment yet! Meanwhile we have a new wheelbarrow and a whole lot of order-out food leftovers.
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Apr 15, 2014 21:54
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DrAlexanderTobacco posted:Yeah same here. I literally just sat down and worked out my expenses for this month *so far*. I'm not sure if this is a bad thing or not. Really depends on what you're buying. Go post your budget expected out/actual out in the budget thread and we'll berate you accordingly.
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Apr 15, 2014 22:26
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wrong thread
Schmeichy fucked around with this message at 22:35 on Apr 15, 2014 |
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Apr 15, 2014 22:31
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You can get a cross-fit style workout without the price tag. My friend got 2 tractor tires for free from the local Wingfoot dealer. One is 238 lbs, the other is almost 500. We flip them, do farmer walks, smack them with sledge hammers, and do box jumps. If it's raining, we go to the gym down the road, where paying for a whole year upfront is only $250. I just can't imagine spending over $100/month on a gym membership. It blows my mind the same way that others see spending more than $250/month on food, or buying a new car.
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Apr 15, 2014 22:33
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Congrats I guess? What would you do if you lived in an apartment/condo? Or if you wanted some of the other equipment? Or participation in a class with these specialized exercises(that's really most of the point of crossfit). I personally can't imagine where the gently caress I would keep two tractor tires(or how I would get them to wherever I would be keeping them), so you keeping them around blows my mind. For the record I don't do crossfit and wouldn't consider it partly because of the money but that's because of how I prioritize my "fun" money. If that $129 fits into a healthy amount of fun money and isn't being thrown on top of a lot of other costs, who loving cares. quote:But someone who is horribly in debt with a 16% underwater used car loan should at least try to find a cheaper way to exercise. This much I can get behind. Nail Rat fucked around with this message at 23:56 on Apr 15, 2014 |
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Apr 15, 2014 22:38
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I can see why gyms are expensive if they include unique amenities or have round the clock instructor led classes. I can also see why people would choose to spend more than average for a well provisioned gym that they use often. But someone who is horribly in debt with a 16% underwater used car loan should at least try to find a cheaper way to exercise. Here's another from reddit: http://www.reddit.com/r/personalfinance/comments/22pf20/im_about_to_have_a_panic_attack_just_found_out_my/ quote:I'm about to have a panic attack. Just found out my GF of 5 years has $166,000 in student loans. I want to stay with her forever, but this is loving terrifying. (US) (self.personalfinance) Relationship protip: you should have some idea about these sorts of things if you're dating someone for a long time. Surprise!  And then his girlfriend makes a thread. http://www.reddit.com/r/personalfinance/comments/22y0d5/i_am_the_gf_of_guyterrifiedofdebt_who_posted_last/ She's a nurse who is working (not in a hospital!) in San Francisco for $64k/yr, with rates between 5% and 7.9%, planning on having her loans forgiven through the public service program thing. At least she got a useful degree. Doesn't public service loan forgiveness only apply to federal loans and not private loans anyway? Fortunately, it looks like they're both getting pretty sound advice.
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Apr 15, 2014 22:53
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Shocking but true: large cities cities aren't going to have the same cost of living as a place where people just toss around tractor tires like candy. gently caress I can't even remember the last time I saw a loving tractor, let alone the tires.
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Apr 15, 2014 22:54
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canyoneer posted:Fortunately, it looks like they're both getting pretty sound advice.
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Apr 15, 2014 23:08
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Nocheez posted:You can get a cross-fit style workout without the price tag. My friend got 2 tractor tires for free from the local Wingfoot dealer. One is 238 lbs, the other is almost 500. We flip them, do farmer walks, smack them with sledge hammers, and do box jumps. If it's raining, we go to the gym down the road, where paying for a whole year upfront is only $250. As much fun as it must be to hoot and holler at some ole tires while smashin em good with a hammer, the reality is that us city folk don't have access or space for that.
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Apr 15, 2014 23:52
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StrangersInTheNight posted:Shocking but true: large cities cities aren't going to have the same cost of living as a place where people just toss around tractor tires like candy. Not to mention a vehicle that can haul like 750lbs of tires. Do those tire disposal places deliver? I would totally be down for some back yard tires to tire myself out with. Moving them sounds a bit too tiring, though.
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Apr 15, 2014 23:55
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Tuyop for that I take back everything bad I said about you and your basil farming insanity. But really guys from what I can tell crossfit is pretty retarded. I think W&W even has a hate thread.
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Apr 16, 2014 02:10
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Saros posted:Tuyop for that I take back everything bad I said about you and your basil farming insanity. But really guys from what I can tell crossfit is pretty retarded. I think W&W even has a hate thread. I did Crossfit for years, the gym I followed was ideally suited for the physical training of combat arms soldiers and the results were awesome. It doesn't seem very efficient for most people's goals, but the cultiness is a sign that people loving love it so that's really nice!
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Apr 16, 2014 02:36
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For some people their gym membership is their hobby expense. For others it is only a gym membership and they splurge on other hobbies in addition. Without a budget breakdown it's really not remarkable on its own.
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Apr 16, 2014 05:08
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poo poo, and I remember being mad at my husband for wanting to sign us up for LA Fitness - $30/mo per person (I think $90 sign up fee + $60/mo in total). I preferred the city rec center because it's $110 per year for the pair of us, but LAF is right behind our house so we actually get off our asses and go to it. I guess that makes it worth it but I just generally hate adding a monthly expense to the budget. I didn't realize how much some people spend, though. $500 is wow.
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Apr 16, 2014 05:31
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drat Bananas posted:poo poo, and I remember being mad at my husband for wanting to sign us up for LA Fitness - $30/mo per person (I think $90 sign up fee + $60/mo in total). I preferred the city rec center because it's $110 per year for the pair of us, but LAF is right behind our house so we actually get off our asses and go to it. I guess that makes it worth it but I just generally hate adding a monthly expense to the budget. I didn't realize how much some people spend, though. $500 is wow. My options for a gym in town are either $100/mo (and not open before work, which is my preferred time to work out), or $1/visit (also same lovely hours), but with barely adequate facilities and no climate control. 
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Apr 16, 2014 07:15
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I suffered through a $60/mo contract for 2 years at a giant 24-hour gym I used between midnight and 2am four or five times a week. After the 2 years were up it became $24.99/month. I used it for 3-4 years after that so it was totally worth it. Then it went out of business in a really dodgy fashion (like 99% of gyms do) and became a yoga studio. 
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Apr 16, 2014 07:25
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Home gyms are great if you can find/make the equipment you want. No fees, no travel costs. Plus you don't have to deal with all the dingbats who train at commercial gyms.
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Apr 16, 2014 08:44
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This isn't related to gymchat, but it's something I've been noticing more and more lately. Is it just me or is there some kind of societal expectation women have that finances are a man's responsibility? Admittedly it's anecdotal, but a lot of my friends who are women, even those who are fiscally responsible, outright say that they'd prefer it and find it easier to have financial discipline imposed on them by someone. As someone who's all about equality, I find it maddening.
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Apr 16, 2014 09:48
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Zeppelin Insanity posted:This isn't related to gymchat, but it's something I've been noticing more and more lately. Women are increasingly staying at home with kids. So it would make sense that some more traditional gender roles are on the rise. http://www.slate.com/blogs/xx_factor/2014/04/08/pew_report_on_stay_at_home_mothers_a_rise_in_the_number_of_sahms.html Remember, feminism is about freedom of choice. And your friends are choosing to have financial discipline imposed on them, not being forced into it.
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Apr 16, 2014 11:44
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