And what do you do with your spending power?

[CaptainF]

Seeing as i'm a student, the question is moot.

I spend some of it on useless crap such as japanese manga, CD's, the occasional videogame, tennis racquets, table tennis racquets, movies, and maybe the occasional article of clothing. Just bullfeathers like that.

I save the rest of my money, which usually works out to about half, towards a rainy day.

 

[Godwynn]

My household is fortunate enough to have an income level that puts us into the top 0.1% of humanity

What do you do, and are there any opennings?

I save my cash, seriously I have $8,000 in the bank, since the only money I spend are for gasoline, and school related. I plan on buying a home or investing it.

 

[ainwood]

Generally just general household expenses - mortgage, food bills. We do try and save quite a bit - and use it for home improvements or travel.

 

[Ramius75]

I have an insanely high savings rate (about 30% of my income).

Most of it is in assets that cannot be taxed anymore.

The rest is spent on food/clothing/shelther, and the occasional night out with the girl.

what assets cant be taxed anymore ??

well, as for me, i dont have any fixed saving plan... most probably spent what i earn... -_-"

 

[Godwynn]

what assets cant be taxed anymore ??

I believe Roth IRA's, or dividend yielding stock.

 

[Drewcifer]

Most of my money I either save or spend on to day to day necessities. The rest seems to go to independant musicians or small wineries in France and the northwestern US.

Soon I will be moving to the neighborhood I work in, pretty much everything I need will be within walking distance. I am looking forward to that.

 

[Ramius75]

I believe Roth IRA's, or dividend yielding stock.

but dividend yielding stocks still get tax right ??

what i can think of is bonds atm.. anything else ??

 

[blargh]

In order of realtive cost.

Rent
Car payments
Groceries
Insurance

The rest is reserved for weed.

 

[Godwynn]

but dividend yielding stocks still get tax right ??

I don't believe the dividends are taxed anymore. One of those Bush laws to stimulate the economy.

 

[Ramius75]

I don't believe the dividends are taxed anymore. One of those Bush laws to stimulate the economy.

but some company often announce dividend b4 company tax to make it look nicer. Still there are tax involve.

 

[Godwynn]

but some company often announce dividend b4 company tax to make it look nicer. Still there are tax involve.

But he said tax free, so one can safely assume he did not choose those companies.

 

[Ramius75]

But he said tax free, so one can safely assume he did not choose those companies.

no idea, thats why am asking him. i want to learn how to better control my finance

 

[warmonger]

Warmonger ...could you help me out finding that thread with the poll in it?

It was at least 2 years ago so it will be deeply buried.

 

[Grisu]

I try to save as much as possible, around 15-20k/y. But I'm not too strict about saving, no sense in passing on on fun stuff just to save some more...

I don't usually discriminate what products I buy other than by quality and price (in that order). I try to only buy fresh food that's in season though (no strawberries in winter an similar). I do, however, value bio-food (dunno if that's the correct term in english), as long as the quality doesn't suffer. And in some things I buy primarily swiss products (meat if possible, cheese, eggs, etc).

 

[Marshy]

I spend it on paying off debt. Then when that's done I'll buy a house and spend most of my money paying off the debt for that. Oh, I almost forgot the 2 packs of cigarettes a day that will probably cause me to drop dead the exact day that I finally finish paying off all this debt.

Overall I'm delighted with where my money goes

 

[Flak]

Way too much of my purchasing power goes towards the women I'm romantically involved with. I probably need to cut that back some now and start getting a bit more selfish.

 

[El_Machinae]

I invest all that I can, this means that (since I spend less than I make), each year I'm richer than the year before and have a greater income than the year before.

If we can just keep the economy stable, I'll eventually not have to work for income, but will be able to work for pleasure.

 

[Eli]

“When I get a little money I buy books; and if any is left I buy food and clothes.” - Desiderius Erasmus

 

[Godwynn]

work for income, but will be able to work for pleasure.

Craziness

 

[El_Machinae]

Well, there's work and there's work.

A person can only be idle and decadent for so long without withering. Making, building, doing ... these can keep a person satisfied. Why do you think so many seniors renovate their homes? For something to do.