Post: #26

Going out in NYC is expensive, but you have to make a decision. If you want to buy some overpriced G&Ts at Lavo or wherever, you're giving up the opportunity to spend that money in other ways.

Would you rather have a little bit of fun every weekend, or a lot of fun once in a while?

I didn't go out to clubs at all during the internship I mentioned, and only hit the bars a few times. After that summer ended, I flew down to a city in South America, booked the presidential suite in a baller hotel, and went out every night for a week with a bunch of girls I randomly met. That trip was worth saving the money, and probably gave me more memories than getting hammered in a sake bar with some douchebags from Wells Fargo or wherever.

The way I see it, you can't blow your cash as a lifestyle choice and then complain that you don't have enough money to do other things.

Post: #27

If I can chip in, I was living in London and commuting out to a nearby town for work. London is just as expensive as New York and on an entry level salary I had a pittance left over at the end of the month after accommmodation, transport, bills and modest living expenses.

I moved out to to the nearby town where I work and reduced my accommodation/transport costs from 70% of monthly salary to 26%.

My quality of living has shot up, I'm stacking cash and I can get into London on a train in 22mins. Have plenty of cash to travel around Europe now and spend on weekends in London.

My advice : It's not worth being hard up on cash living on the edge. Do what you can to get your finances in place, play it smart.

Post: #28

@ polymath: i agree with everything you're saying. I generally drink at places i have locked down. I very rarely eat out and pack my lunch. My splurges went to some clothing and a plane ticket/accomodation.

My financial complaints come from not being attractively located in Manhattan/north brooklyn is all.

@ Que enspastic: i can be in downtown nyc as fast as you can to central London, but the neighborhood stigma is more severe in nyc i think. Lost a lot of bangs in the past few months due to this and playing away games gets tiring.

Post: #29

Focus on living below your means and make sure you have 6 months living expenses in cash (in either a FDIC insured account or a 100% treasury backed money market fund. E.g. FDLXX.)

While you're saving that money, read "Fail-Safe Investing" by Harry Browne to get some perspective on how to invest once you've actually got some assets.

Post: #30

i'm in a similar position/ state of mind.
i'm pulling in 50k a year without a college degree.
breaks down to $750/ week after taxes.

i live in boston and although it's not NYC, it's still pretty damn expensive to live here. it's tough to stack money when you are constantly being bashed over the head when you go out to do anything.

these days i prefer to opt out of going to the bar for a drink with a couple buddies because that one beer soon turns to three as the flow of the night picks up and new social layers form. i'd prefer to take that $20, save it, and spend it on a beer somewhere else in the world.

i feel much better having that money in the bank than the beer in my stomach.

food is my biggest expense- i'm on the go a lot and usually aim to cook large meals and break it down into several portions, but time doesn't always allow. deli meats are my friend and i always keep them on hand at my office. as someone who is actively looking to gain mass, i don't feel bad about spending $10 on a huge take-out meal. i avoid small portions when i eat out and only go to places that i know will dish up a meal that will want to make me puke after from over consumption.

i'm trying to stack as much money as possible before september 1st and then i'm hitting the road. it's all about focus and committing to the plan.

only two more rent checks are due between now and then which will run me $1,400 total with utilities.

the obvious move would be to land another job and straight hustle.
lose the focus on hunting women.
dish out an okc message once a day and see it through.
i've been knocking them down lately, but that's a whole nother post.

also- get a bike.

Post: #31

But how does one go about getting a job out of state without connections?

Post: #32

You might want to read that mouth Dakota thread. Talks about just that

Post: #33

At $45k wanting to save is admirable but the truth is you need to make more $ or find a way to make that same amount in a much less expensive country.

In the U.S. in an attractive area you really need to make $60k+ at least to save a sizable chink for investments or starting a business ($15k+ a year).

I would get in the mindset of increasing skills and income that will aid you in starting a business down the road.

Post: #34

Mark Cuban had some good advice on this.

You can find a way to invest your money to make 10% return, which can be pretty hard (not to mention you could potentially lose the money entirely) or you can find a way to reduce your financial costs by 10%, either way you have more available income.

So save up cash and start buying your non-perishable goods in bulk at a discounted rate (although this can be harder for larger items since space can be an issue).

Also learn how to use a cash back credit card responsibly and use it for every single expense. Save that money. That alone should give a 1-2% return immediately on things you already buy. If you can find a way to add a few percentage points of savings in other areas, you now just got a 5% raise and haven't changed your quality of life at all.

The whole Cuban blog post
http://blogmaverick.com/2006/01/02/my-in...-for-2006/

Post: #35

(06-10-2014 04:29 PM)Cattle Rustler Wrote:  Also, you're making 45K in NYC? It might be wise to get a second job or move elsewhere. You can earn 45K in Dallas and Houston with an Entry-Level job, and you cost of living will be MUCH lower.

One bedroom apartments for 500 and jobs are plentiful. It's not NYC but you want to make money work.....

What "entry" level jobs do you speak of? I bet they want 4 Years Bachelors Degree or equivalent experience as a qualification barrier just because they can.