/biz/ - Business & Finance

[Anonymous No.58619513]

I’m a 27 y/o attorney and started making $125K/year a few months ago. I grew up with parents who were always frugal and downplayed how much money they actually made (a lot), and this mindset has rubbed off on me. I’ve been able to get my HYSA and IRA to double digits in the past few months, which is a good thing, but I’m not actually ENJOYING the money I’m making. I very rarely buy myself anything, when in reality I have $1k left over each paycheck and just automatically put it into savings.

While being money-conscious is a good thing in theory, I feel like what’s the point of working so hard if I’m not going to enjoy my life? Does anyone have any advice on how to break away from this scarcity mindset?

[Anonymous No.58619531]

I think it’s very hard to not overthink money. I’m terrible at spending money and save/invest as much as possible most of the time. What I think I found to be the keys for me were 1. Finding what things I enjoy that money can buy. Vacations. 2. Not overly tracking certain spending categories. I throw all the normal weekly spending in one bucket and just let it flow. 3. Automate savings at the beginning of a pay cycle and let the extra sit in my account. Then I don’t feel as much guilt spending it because I’ve already saved. VS not wanting to spend so I can save more.
stake.us/?c=hL47L9TD

[Anonymous No.58619541]

>>58619513
how are you only left over with 1k after each paycheck when you are making 125k? and you claim to be frugal???

[Anonymous No.58619548]

>>58619513
you're more responsible than I am and I'm 33. I make less salary than you do but it's not much lower and I honestly just use my money all the time. I never plan for the future - for instance, i have over 100 thousand in crypto alone which is volatile and has went up 50% and down 50% in a matter of days before. I don't care. I'll give a $500 donation to a random retro (only retro, the rest of the streamers are fags) streamer from time to time. Don't care about money. Maybe it's where I've have a stable income / comfy job for 3+ years or maybe it's because I'm not very smart truly. But I don't care anyways. Money comes and goes. Stop giving a shit about it and you'll be happier, I bet.

[Anonymous No.58619585]

>>58619548
what is a retro streamer

[Anonymous No.58619611]

>>58619513
>Lawyer
>Considering life from a perspective antithetical to being a lawyer
Wow the lawyer considers his position as a lawyer now this really raises some definition of consciousness questions

[Anonymous No.58619620]

>>58619585
a person who streams retro games

[Anonymous No.58619623]

>>58619585
Lol wut? Retro gaming you philistine.

[Anonymous No.58619628]

>>58619585
Pac man streamer

[Anonymous No.58619683]

>>58619548
Send me some money then bossman

[Anonymous No.58621019]

>>58619541
>how are you only left over with 1k after each paycheck when you are making 125k?
$125k is nothing in Biden's high-tax hyperinflated America.

[Anonymous No.58621413]

>>58621019
stop smoking crack, 60k yearly to the side EASILY.

[Anonymous No.58621653]

>>58619541
yeah wtf op

[Anonymous No.58621818]

>>58619541
this, i make $20/hr and save around $3-4k per check, and rent a house.

[Anonymous No.58621827]

>>58621818
*per month, not per check

[Anonymous No.58622518]

>>58621019
True

[Anonymous No.58623046]

>>58619513
Don't be scared to spend a little but don't fuck your future by not planning for it. My parents spent all they had because they didn't know if they would grow old now they're old and don't have shit saved up and will have to work well past retirement. Me and my wife make good money and do plenty of things but also save so that when we hit 60 we won't have to work anymore. If you're single I'd say live frugal 5 to 10 more years and save up that way you know what you have and can let that keep building while spending more.

[Anonymous No.58623058]

>>58621019
I live in NC and not in a major city. 125k goes a long way here. If in a city move out it will take time but you'll appreciate it more.

[Anonymous No.58623302]

>>58619513
Try to spend some money on yourself else your next of Kin will do it for you. Even though I put around $300 a month on QAN, I still find time to take myself out on solo dates night and finally got a tesla for myself. Investment is good but dont end up not living

[Anonymous No.58623449]

>>58621019
You make 3x me and i have 1000 a month garnished and still have money leftover to save. If i wasn't being garnished i would have more extra cash as a factory wagie than a (((frugal))) lawyer

[Anonymous No.58623487]

>>58621818
No you don't unless you're racking in some serious ot. 20 a hour is only 40k a year on 40 hours a week. Even if you somehow avoided taxes completely and lived for free you wouldn't even make 4k a month

[Anonymous No.58623608]

>>58619513
troll post

[Anonymous No.58623997]

>>58619513
Go on a vacation, you really need it.
>>58619548
What low caps are you buying, I have XRD, AAST and NEAR for now

[Anonymous No.58624393]

I assume OP means '1k left over after maxing out roth IRA/401k/etc' basic type of investment, that's how I view my 'left over' money. I used to blow said leftover money a lot, now I'm in my early 30s and only just now in a decent habit of stuffing nearly all the leftover-after-investing away (into a money market brokerage account to act as a 5% savings account). I could put more in investments but I'm bad at volatile stuff.

[Anonymous No.58624441]

>>58619513
>I’ve been able to get my HYSA and IRA to double digits
im retarded
what do you mean by this?
which part is double digits

[Anonymous No.58624572]

>>58619513
i had the same problem and the worst part is that i didnt even notice how much i was wasting money until i started making a lot of cash per month and i still couldnt make ends meet, i had to get an accountant to limit my spending because i was raised by two very good parents that were very very bad with money, my advice? get an accountant, work on a budget with him and have your funds go through him, find someone trustworthy and keep all receipts obviously you dont want to get scammed, but filtering your money through someone else reminding you that you cant spend it on stupid shit every single day will train your mind to think before spending. Otherwise you will end up like the people gambling their 150k/m wages on conan or trump coins because they're funny and "oh money is meant to be spent anyway", you'll see a lot of those around biz

[Anonymous No.58624574]

>>58619513
>$125K/year
>i am frugal
>$1k left over

HAHAHAHAHHAHAHAHAHA

[Anonymous No.58624614]

>>58619513
I save 3k a month at 140k so you should be able to do more