How much is enough - money money money

Optimist · (#1 (**permalink**))

Ok

so when I earnt Â£10,000 I knew it was not enough, then I went up to Â£16k - joy, then Â£28k bliss. My boss has just put me up to Â£6xk and I feel a bit embarassed - I've got this mental block on the one hand I think yeah its only money get on with it. But on the other I need to keep motivated to achieve more. How much is enough ? What's average for someone in their 30s?? And when I go into the shop they still look at me like I'm about to nick the testers! :P does anyone else ever feel like this?

AfriCariBrit · (#2 (**permalink**))

You're so embarassed bout your salary you write an entire post about it?... hmmmm...

...I reckonlike many things, its all relative... my enough isn't enough for my son... he thinks you need to have all the game consoles and other such crap... I have a slightly different take... so i guess it depends on the individual non?...

umbrarchist · (#3 (**permalink**))

Money and Wealth are two different things. What is your NET WORTH? If you stopped working tomorrow how long could you go without a job? Is your house payed for?

As long as you live on income from a job you are still on the treadmill.

You may notice the banks increase your credit limit. They want you in debt so your income goes to them in interest. NOT GOOD FOR YOUR NET WORTH!

umbra

Saint · (#4 (**permalink**))

I agree that it is relative. But generally if you earn enough you should be happy, and by being happy doesn't mean you shouldn't strife to get more if you can. If you are happy, then it means you aint doing too bad, then again if you getting like Â£10000 below what you're worth, then you want to find out why or do more to take yourself to the next height.

it is also important not to chase money but let money chase you .. don't work silly hours....... and then find out you have no time for family or friends and cannot do social activities. ie don't be a slave to money but let money be your slave. Broadly speaking, when you have enough to pay for your own place, your children, your parents and even help and sponsor some less privilege folks around you, then you know you aren't doing bad.

Now the answer to the Question is when you have 100 000 000. You would have Â£4000 grand to spend every day even if you stop work. That should be enough. I hoped I have helped you.

En Sabah Nur · (#5 (**permalink**))

Live below your means. Because you make a certain amount or get a raise does not mean you should "live up" to that wage. Uh uh. Most wealthy people got that way by being frugal.

You should not crumble if you miss the next paycheck.

Shemsi en Tehuti · (#6 (**permalink**))

Optimist wrote:

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Ok

so when I earnt Â£10,000 I knew it was not enough, then I went up to Â£16k - joy, then Â£28k bliss. My boss has just put me up to Â£6xk and I feel a bit embarassed - I've got this mental block on the one hand I think yeah its only money get on with it. But on the other I need to keep motivated to achieve more. How much is enough ? What's average for someone in their 30s?? And when I go into the shop they still look at me like I'm about to nick the testers! :P does anyone else ever feel like this?

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This is a curious post indeed...

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Anyhooo, here is my suggestion. Definitely establish a diverse investment portfolio with separate funds (at least two). One for retirement, and the other to establish wealth.Total upyour monthlypay, and subtract out all taxes,deductions for retirement and investmentfunds, living espenses to the most minute detail (including shopping, gas,& entertainment), recurring bills/debt, and all theseexpensesbecome part of your budget.

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One thing I recommend is to set aside 10% of your gross pay every month into asavings account because you need to be able to live forat least 6 months in caseyouhave trouble finding another jobfor some reason without work. This 10% also goes intoyour budget.

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Once you figure out how much you need to set asidefor all of these things (plus whateverfinancial budgetting isimportant to you) in your budgetfor the month, check your monthly take home pay and that tells you if you make enough. It is not a quick calculation, you will have to do a little bitof digging.

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I do something similar with my expenses. However, for what I want

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to do in life, I am trying to start my own company. There are some smart people here on Blacknet so hopefully we will end up working together in the near future...

AfriCariBrit · (#7 (**permalink**))

offtopic.gif@ Thoth B

...erm... do you know if thats a man or woman in your avatar?... I've been looking at it for a bit now and I can't decide... the face looks kinda feminine but the handslook jus like my dads

...

Shemsi en Tehuti · (#8 (**permalink**))

Judging from the lipstick, I assumed it was a woman. The reason I like it is because it resembles the book cover for Decolonizing the African Mind by Chinweizu; however, it portrays a woman instead. I find the woman more appealing...

umbrarchist · (#9 (**permalink**))

You can't put enough information about this in posts on a website.

Therefore:

Your Money or Your Life by Joe Dominguez

Rich Dad, Poor Dad by Robert Kiyosaki

The Screwing of the Average Man by David Hapgood

http://www.simpleliving.net/ymoyl/default.asp
http://www.twbookmark.com/books/34/0...erpt10368.html
http://www.consumercounseling.org/ne...vidHapgood.htm

umbrarchist

ac9311 · (#10 (**permalink**))

A couple of other books to add to the list are:

Think and grow rich by Napoleon Hill

The millionaire next door and the millionaire mind by Thomas J. Stanley

umbrarchist · (#11 (**permalink**))

THE MILLIONAIRE NEXT DOOR contains an interesting statistic. It says that 36% of millionaires buy used cars. This deals with the issue of net worth and depreciation. Once you get the money you want to convert it into wealth that lasts. You don't want to blow it on crap that depreciates which is what new cars do. Our GNP is based on a large percentage of the population being dumb.

You don't hear economists saying accounting should be mandatory in the schools.

Wonder why? Whose economy is ignorance good for?

umbrarchist

Blackthought · (#12 (**permalink**))

umbrarchist wrote:

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THE MILLIONAIRE NEXT DOOR contains an interesting statistic. It says that 36% of millionaires buy used cars. This deals with the issue of net worth and depreciation. Once you get the money you want to convert it into wealth that lasts. You don't want to blow it on crap that depreciates which is what new cars do. Our GNP is based on a large percentage of the population being dumb.

You don't hear economists saying accounting should be mandatory in the schools.

Wonder why? Whose economy is ignorance good for?

umbrarchist

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Couldn't agree with you more there bro.....

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There are tonnes of ppl out there buying new cars on loan.. just becuase its newerconfused3... even I know some... and they tell me about thinking of investing.... niceone.gif