k. i'll let her know.

the pay yourself thing, i already do that, i put 5% into my 401K, but that still doesnt seem like i'm saving as much as i'd like to.

Google "pay yourself first" and try that for awhile.

This is a great idea. I recommend it to everyone.

If you can squirrel away 10% of your pre-tax income into something other than a 401K, and not touch it for say 12 months, you'll be surprised how much accumulates.

i should set up my roth ira so 5% of my check goes into that as well... i wonder if i can do that on their website. i suppose so. i hate having to talk to those people on the phone.

So Kyle, what is the % of mortgage that you pay vs. your salary?

mine is like 37% from take home pay.

i'm really not sure what i can do to save more money. it seems impossible to be able to save a significant amount of money out here and also be able to have a good social life. just to go out one night here, probably will set you back $60-$100.

31%. That includes the mortgage and monthly HOA fees, which are pretty high due to this being a condo community.

If you do want to start socking away funds in a savings account, I would have recommended Emigrantdirect a few years ago because they had pretty high interest rates, but they suck now. You get can 4.44% APY at First Arkansas Bank and Trust. https://www.firstarkansasbank.com/index.html

All you have to do is: Use the debit card 10 times a month, get electronic statements, log into your account online once a month, and do a transfer of some sort or electronic bill pay once a month. Piece of cake for a fairly outrageous interest rate for our times.

Have a look at ING direct or something similar. Something where the money is deducted automatically so you dont notice it, and deposited in an interest bearing account. And then forget you even set it up for 12 months.

Go back in a year, and you'll probably be surprised.

The "pay yourself first" mantra is a good one, check out The Richest Man in Babylon. While I was paying down the deposit on the flats I would send home money the day I got paid, it didn't make for a lot of fun the rest of the month, but I got it done.

Kyle - how about you pay down your larger loan, but before you do negotiate with the bank that you want to be able to draw down on that money if needed?

As for increasing your savings, you'll get more from increasing your income, either through your day-job or an extra source. Easier said than done though...

i started a 403-B recently.

I have a 1700-J.

At 1700hrs I crack a bottle of Jameson.

If you can squirrel away 10% of your pre-tax income into something other than a 401K, and not touch it for say 12 months, you'll be surprised how much accumulates.

My new job?  20% 401K matching.

man and here everyone thought *I* was the millionaire!

My new job? 60% of what I was earning two years ago. Weeee Recession!

My new job? I don't have one.

My new job? I don't have one.  Whiskey QA Engineer.

There is that. And sailboat test driver.

Big week ahead: http://money.cnn.com/2009/09/12/markets/sunday_lookahead/index.htm?postversion=2009091206

If you can squirrel away 10% of your pre-tax income into something other than a 401K, and not touch it for say 12 months, you'll be surprised how much accumulates.

My new job?  20% 401K matching.

i hate you.

my new job? oh wait i dont have a new job.

Who's fault is that? 

My job matches 7% then kicks in something for profit sharing.  I think last year that put me at 10% match, maybe.

I hate 401ks though, as I'm sure I have posted about many times previously.

Who's fault is that? 

i've more or less concluded that for now i'd rather focus on doing my own thing and get that going in different ways than look for a new job. not a great time to look for a new job anyways. yes, i'm full of excuses. but there is truth to these excuses.

also, Balor- C said she no can do, she has a wedding the previous week and can't do two weddings in a row like that. lolz

The Japanese government takes a chunk of my salary to pay for their trips to Hawaii. I get what's left when I'm 65

Who's fault is that? 

"Whose"

Sorry.

Nazi of grammar!!

Nazi of grammar!!

Yes?

Tell Carolyn I said that "C" is for "Coward".

Hey Kyle, do you have a target date for this millionaire status?

Tomorrow... today!

LOTTERY!

My motivation for this topic increases as work drags on

I decided to stop buying $200 worth of new clothes every two weeks, (until Jan. 1).  Yay me!

wtf? What do you do, throw them away after wearing them?

I'm lucky if I spend $200 a year on clothes, and I'm a suit