Comments on: Extreme Saving When You Are Young: How Much Is Too Much?

By: Mack jackson

Mack jackson — Wed, 22 Jul 2009 06:38:42 +0000

Thanks for sharing such great post, we are earning without any of the future plans and spend it without any of the thought of tomorrow. According to me budgeting and minimize the use of credit card is the best way to save money.

By: YYC27

YYC27 — Fri, 17 Jul 2009 16:33:57 +0000

Past 7 years, that is. Time flies.

By: YYC27

YYC27 — Fri, 17 Jul 2009 16:32:09 +0000

Shortly after my 21st birthday, I left a bad situation with about $20,000 in debt. I spent a couple years strictly budgeting myself to get rid of that debt, and the next few years simply living (well) within my means, on a relatively modest income. End result? In September I’ll be turning 28 and will have just purchased by first home with $50,000 down.

Do I regret the sacrifices I made over the past 6 years? Absolutely not.

By: Martha

Martha — Tue, 23 Jun 2009 20:32:54 +0000

I too am a rabid saver (about 30% of my net income plus 15% to my 401K). But I save because I love to do it. It gives me a sense of personal accomplishment and total freedom from financial worries. As long as you’re puting away money diligently, don’t fret over the little things (like an iphone), reward yourself for a being a responsible saver.

By: financial adviser

financial adviser — Mon, 22 Jun 2009 19:59:35 +0000

There certainly isn’t any formula that determine how much is “too much” to save. It comes down to satisfying your desires both now and later. In Brian’s case, his desire to save money now is larger than his desire for an Iphone, so good for him!

By: Ruby Leigh

Ruby Leigh — Mon, 22 Jun 2009 17:45:31 +0000

Too Brian – I am frugal person ( thought not as much as you) and I truly do love my iPhone. I use it all the time. It is a regular time saver and sometimes cost saver with all the apps and features.

Other notes: a bit cheaper, but equally nice phone is the g1. My husband has this and I would recomend it as well. Research it too, and then choose what is right for you.

By: Frugal Dad

Frugal Dad — Fri, 19 Jun 2009 16:46:31 +0000

@Emily: I just read through my post wondering what you were referring to, until it occurred to me you might be referring to your own comment…LOL! No worries; we keep things very informal here. If we were out to criticize grammar and weird sentences I’d have to quit writing!

By: Emily

Emily — Fri, 19 Jun 2009 16:20:13 +0000

Sorry, that post was filled with weird sentences and horrible grammar.

By: Emily

Emily — Fri, 19 Jun 2009 16:16:08 +0000

Give yourself an allowence every month, for fun stuff like going out to eat, buying clothes, etc.

Make some financial goals… How much do you want to save? What are you saving for?

Figure out how much you need to save for retirement based on your age and projected living future living expenses. This way you can know how much you need to start saving for retirement now.

Live you life, have fun, and don’t deprive yourself of things you want (keeping your goals in mind). Relationsihps are more important than mondy, so don’t blow your friends off because you don’t want to spend the money.

By: DDFD at DivorcedDadFrugalDad

DDFD at DivorcedDadFrugalDad — Wed, 17 Jun 2009 13:47:20 +0000

I wish I could go back and have saved more. I can’t change the past, so I guess all I can do is follow that advice going forward . . .