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Stop playing daily fantasy sports. You're not smart enough. DFS is for 1) professionals, 2) wall street quants to "unwind" with a different flavor of spreadsheets or 3) insiders.
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Mar 8, 2018 14:37
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| # ¿ May 10, 2024 17:51 |
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Spokes posted:Okay, so, quick question -- If the money i'm spending on DFS were being spent on, i don't know, League of Legends or whatever, would that be better? Even if you were playing a pretty cash intensive game like, I don't know, Hearthstone, I think you'd be hard pressed to spend more than $150 a quarter, which is $50 a month. Our family's line item for all-in entertainment budget is like $75-100 a month. This isn't a humblebrag but we earn almost 8x what you do in any given regular month and still manage to spend less on our entertainment. If you were spending $25 a month on DFS and didn't have any debt that would be one thing, but instead you've got a bunch and your spending remains out of proportion to what you earn. EAT FASTER!!!!!! fucked around with this message at 16:59 on Mar 8, 2018 |
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Mar 8, 2018 16:56
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Also, looking at your actual budget that you posted of last month's spending on the very first page of this thread, your sum total of goony entertainment expenditures (gaming, DFS, WoW, Netflix, is $879.93). EVERY CENT of this is DISCRETIONARY spending, pretending otherwise by putting some of the numbers above the line (you have a budget for wrestling, Patreon and World of Warcraft) and some of it BELOW the line does not change the fact that you actively chose to spend every dollar of that money while remaining indebted to a credit card company to the tune of twice your monthly paycheck. So, change my numbers around to reflect that my family spent 1/8 of your entertainment budget and you earned 1/8 of our income.
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Mar 8, 2018 17:05
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Hey if you cut your gaming budget to $80 a month, you can afford to pay fully $800 toward your credit card, which is 60% better than you were hoping at the start of the thread!
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Mar 12, 2018 13:37
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I don't presume to know what the APR on your credit card is, but if we guess 18% you're losing $1,080 a year on interest payments which means about $90 a month. IDEALLY you would carve this interest out of your LONG TERM desired spending as you pay down your credit card, so that it's not just "scrape together whatever I can this month." Also it helps you realize that every dollar you spend on paying down your debt is going to compound at 18% a year, so paying $500 instead of $800 costs you an extra $54 in eventual interest payments. That's enough for a whole, brand-new AAA release video game.
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Mar 13, 2018 14:15
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Spokes posted:I don't understand exactly what you mean by this. I'm reading it like it's a bad thing that i'm planning to "overpay" my debt based on my budget, but i doubt that's the intended meaning. is it just that erratically pouring money into fixing this isn't long-term sustainable, as opposed to having a structured amount in mind every month? No, what I'm saying is that even if you want to budget $200 a month going forward for games and toys, that while you've got credit card debt you should ALSO apply the interest payments you need to make toward that debt out of your discretionary spending. Pay down your credit card debt as fast as is humanly possible, including eating beans and rice for months to make it.
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Mar 13, 2018 15:43
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Yeah my meaningful contributions ended at "spend $50 or less a month on games and gambling." I think you can eat what you want, provided it's mostly purchased from a grocer and prepared by you.
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Mar 14, 2018 17:49
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Exceedingly good work! WE ARE ALL ROOTING FOR YOU ON THIS.
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Mar 16, 2018 15:30
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lol it's just wild to me that you were doing $1,400 average a month in your entertainment category. That's like the best kind of problem to have - "oh I've got a low cost of living and a high salary but I blow all my money on totally discretionary purchases." "So do less of that." "Oh wow, that really helped!"
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Mar 19, 2018 19:08
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IllegallySober posted:I hear you there, I've been doing the same thing- for the irregular bills though, it's really nice to have the money set aside to pay it in one shot and not have a nasty surprise I do this with some pretty small dumb annual renewals - the smallest one I budget monthly is my financier.io fee - $12 budgeted over 12 months lol. I guess I was really exuberant when I got started with the budgeting. The HOA and the annual garbage tags make sense, though.
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Apr 3, 2018 14:01
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Spokes posted:Alright, for the first time since... 2013, I think, I have more money in my Checking account than balance on my Credit Card. I don't necessarily think I'll get to zero this month but I'll at least be able to pay off my balance due at the end of the month and stop paying interest. Continuing to plug away! Isn't this a great loving feeling? Doesn't it feel awesome to not be paying a company hundreds of dollars a month for the privilege of continuing to use their money?
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Apr 5, 2018 18:14
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You’re doing great. A tax bill just means you got an interest free loan from a Uncle Sam. Try not to beat yourself up and I hope you nail your savings goal.
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Apr 10, 2018 02:50
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If you budget tightly, and track your spending somewhere other than your CC company website, you can do what I do and just hit "pay that statement, pay statement in full" button whenever you feel like it and it doesn't. even. matter. I have autopay set up, but I also just compulsively "pay statement" and it's suuuuuper satisfying to know that all the magic just happens behind the scenes with purchase reconciliation and budget categories instead of at the level of "do I have enough money to pay this bill?" loving magic.
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Apr 24, 2018 19:11
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Just to be sure but let me remind myself - you're not carrying this credit card debt on interest-bearing CCs, right? Because with a 4 month timeline to payoff, you'd probably benefit from consolidating it even with a 2.5% transfer fee onto a zero interest card.
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May 3, 2018 14:01
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Spokes posted:I'm paying off the full balance that's due every month, yeah. So no interest. Just stuck with paying off each month's expenses in the next. Congratulations on your windfall! Although you're paying the "full amount due," the balance carried on the card might be bearing interest - if you read your statement really closely it will tell you the APR on the carried balance. That's why credit card debt is so toxic. Anyway, you're goddamn close to getting it paid off, and once you do you'll never want to get back to where you were again.
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May 4, 2018 14:40
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Once you're cashflowing for a couple of months, you'll get this temptation at some point to escalate your appetites. Lifestyle creep is a real thing. Don't be a sucker. You should NEVER return to that level of consumption you were having before, because 1) you know you're happy here and it's just your primate brain going "oo shiny new stuff" and 2) you were overspending your means. Try to keep as much of your savings as possible out of sight, out of mind.
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May 14, 2018 13:47
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Spokes posted:Also, before anyone posts it, yes, i did see the SCOTUS decision on sports gambling. I'll be good, I promise I came here to post this! I was like, "OH NO! THAT AIN'T NO GOOD FOR SPOKES!" Instead, you should just buy Paddy Power/Betfair or William Hill stock. It popped like 9% on the news.
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May 14, 2018 16:12
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Get the gently caress out of here Zaurg you stupid loving clownbaby. Stick to your thread and don't post in the rest of BFC you're literally the poster child for making stupid financial decisions despite the best advice in the forums pounding down on you like a hail made of gold nuggets.
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May 22, 2018 20:24
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John Smith posted:Disliked. The hero's voyage should be achieved by overcoming multiple obstacles, as he engages in a journey of self-discovery and realising what it truly important to him. Cornholio is a good example. But John, isn't it nice when things just... work? https://www.youtube.com/watch?v=bl2U1p3fVRk
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Jun 3, 2018 14:56
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Of course nobody understands the reference but very often in my line of work I ask my trainees who have prepared for and executed a plan successfully because of preparation and meticulous practice, "isn't it nice when things just work?" I use it almost as often as I remind them that "when you do things right, people won't be sure you've done anything at all." https://www.youtube.com/watch?v=edCqF_NtpOQ
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Jun 4, 2018 14:16
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Nam Taf posted:Without even watching it, it was the ellipsis/pause before 'work' that made it instantly spring back in my mind and I haven't seen it in near on a decade I'd guess. The people I'm giving this line to are now like 25 at oldest so they were 10 when this commercial came out. Sad!
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Jun 4, 2018 16:38
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| # ¿ May 10, 2024 17:51 |
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Spokes posted:so I'm putting myself back into manually-track-every-transaction-in-YNAB mode. Doing this is the only way to avoid consumption creep. We make an unjustifiable amount of money every year, and the only way it ends up working for us is by knowing where every dollar goes.
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Sep 21, 2018 12:42
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