That is what I used to do (just the matched amount). I decided it was worth investing heavily when I am young (31 now), so that work is optional later. I likely would keep working, but would not be in a position of having to work a job I dislike.
Mostly I just avoid recurring charges, and drive cheap cars. I get quite a bit of ribbing for driving a stick shift 2005 focus as an engineer.
Yeah I like the tax benefit of putting more into the 401k too
I think 10% of income for charity is a terrible habit unless you have billions to throw around like that. This is reserved for wealthy people who need the tax break.
Even for somebody making 70k annually, that’s 7k a year, or roughly 583 a month - that’s a whole damn car payment, a lease on a luxury car, or a good chunk of rent. Even somebody making 100k a year (which isnt much in the big picture), that’s 10k a year to charity.
Giving to charity is good, but if you don’t have your own expenses under control, that much is excessive.
I donate about 0.5% of my monthly income to charity, and even that is still higher than some of my recurring bills.
Strange question.
When I was in uni, I just did what I needed to get by. No fancy lunches or dinners, one strong coffee in the morning and cheap food if I was hungry. I still found money for decent clean clothes and sneakers so I didn’t look like a chump, but was never interested in luxury goods.
I look back now and laugh at how cheap and thrifty I was. My spending habits now is similar. Not a bad thing.
tweet
There’s a great book, with horrible name, called I will reach you to be rich. Give it a read.
Also… I spend about $2,000 a month eating out. It’s super convenient with my work schedule and makes my life significantly better, since it removes the stress of cooking and preparing. It’s totally worth it for me.
Definitely. I never had any shame declaring my ambition to get rich 
My ultimate goals with money are
Part of it is being ‘rich’. It’s really more about automating your financial life and making valued decisions on your wants, while continually investing money.
Your parents ROI will come from your health and happiness, not from money.
Agree to disagree I guess.
as with most things, how tot spend ones money is highly subjective and the reported leading cause of divorce
Sure, it was just a suggestion. People can do what they want.
There’s a great quote: “Being charitable when you’re still a charity, makes a negligible difference.”
Until the value of time exceeds value of money, donate to charities as a cheerful volunteer.
On that note, you should look into Habitat for Humanity @anna_5588
I wish I would have learned the stuff prior to becoming a homeowner, but you can pick up some really good skills, beef up your resume, and still give to charity without dipping into your allowance
Was certainly one of the factors in mine. My wife wanted a 500 dollar purse for her birthday. I told her I’d buy her a car if she learned how to drive. She didn’t like that.
I’m sorry about your divorce… I hope you’re happier now
not a bad idea.
Haha, Im way better off after my divorce. We were long distance and in a way, kinda arranged (our families are from Bangladesh).
The distance drove her crazy and she hated my mostly female gym.
So. Late to the party on this. I’m also a numbers person that thinks about my spending way too much. I was a finance major being taught how to manage the assets of others, but I didn’t know how people get assets to manage in the first place. That’s when I found Ramsey, Kiosaki etc…
My college experience was a bit different from yours. I moved out of my parents house and had two or three jobs, rent the whole deal. But I hope my approach helps you.
A lesson that took me way to long to learn: you’re dealing with two things when it comes to money: emotions and math. You’re using words like “wasteful”, “luxury”, “indulge” etc… there’s clearly guilt and a sense of obligation there.
I recommend taking the emotion and the behaviors out of the conversation first thing, before you have a chance to stress about it. Let’s say you write up a budget and decide you can save $200/month (or whatever the number is). Put that cash away in a separate account you can’t get to easily (no auto withdrawal) the moment you get it.
Then as you go through the month you won’t have to be guilty about spending $5 on ice cream, because you’ve already saved your goal amount that month.
Some people call this “paying yourself first”. It’s kind of like working out in the morning.
Also, whatever you do don’t put too much stock in “normal” people’s spending habits or attitudes about money. Most “normal” people are broke.
Doing this! You mentioned this in a previous personal finance thread I created earlier, so I took up the advice
True, I feel like I need a bit of a mindset shift, just like I had with nutrition. Just because everyone is spending money (or eating crap) doesn’t mean I should. I guess it’s sort of like the “come on, relax a little and eat the cake” argument I hear everywhere
Yes, but in your case I think it can be good advice, although generally speaking I agree that most people err in the other direction. There’s a pull for you toward strict austerity that isn’t there for most people.
Balance is balance.
If you were my kid, I would be proud while my wife would be heartbroken that you’re not spending our money lol.