Greenwich is an expensive place to live..
- Thread starter demoship
- Start date
Your living place is your biggest expense. Just doing that will double the savings rate for little effort.
who wants a roommate? How about "who wants to be alone?" A well-chosen roommate can be like a built-in buddy or sibling (male or female).
There is more to life than surfing the web and watching cable TV. Life is about people.
Financing the car would definitely cost more, and either way, the place I'm renting is a 1 bedroom. If you want to live w/ a roommate, you have to pay more for a larger living space. Just for the sake of argument, 1 bedroom = 1700, 2 bedroom = 2400 (divided by 2 = 1200 per person), so you'd be saving $500 off rent, which is around 30%, not 50%
I really can't believe this thread. You're at a hedge fund, in your youth, and you are obsessing like an accountant over the cost of gas, car insurance, and utilities?
Do you really think how much you spend this year is going to make or break your financial future? How well off you will be aged 40 is not going to depend on whether you cut back on the beers or buy a cheaper car. The biggest factor by far is what career & business decisions you take, and how you perform. You are not a teacher or an accountant chugging along, getting a raise each year. Rather, you are in a cut-throat competitive field where you will either make shedloads of money in the next 10 years, or realise you don't have what it takes, and quit within 3-5.
The best way to save is not to cut back on spending, but to EARN MORE MONEY. There is nothing like making shitloads of cash to take care of your financial situation. I've known a few pretty successful traders in my time, and none of them even kept a budget, let alone worried about whether to move house to save $200 per month.
Really I think this kind of thinking is detrimental. Put 100% of your focus into becoming a shit-hot trader, knowing everything you can about the markets. Pick the brains of everyone at work, get one of the top performers there to take you under his wing, and network too just in case it doesn't work out at your current place. Follow the industry, follow the markets obsessively. F*ck your phone bills and car insurance payments.
Really, where you will be in 15 years time is going to be determined mainly by how much moolah you can make in the trading industry, *not* by your monthly nut. The latter matters if you are a 9-5er in a steady job with limited prospects for dramatic increases in earning power. But you're not in a steady 9-5 field, you are in a cut-throat business where you either get rich or die trying.
Act accordingly.
Do you really think how much you spend this year is going to make or break your financial future? How well off you will be aged 40 is not going to depend on whether you cut back on the beers or buy a cheaper car. The biggest factor by far is what career & business decisions you take, and how you perform. You are not a teacher or an accountant chugging along, getting a raise each year. Rather, you are in a cut-throat competitive field where you will either make shedloads of money in the next 10 years, or realise you don't have what it takes, and quit within 3-5.
The best way to save is not to cut back on spending, but to EARN MORE MONEY. There is nothing like making shitloads of cash to take care of your financial situation. I've known a few pretty successful traders in my time, and none of them even kept a budget, let alone worried about whether to move house to save $200 per month.
Really I think this kind of thinking is detrimental. Put 100% of your focus into becoming a shit-hot trader, knowing everything you can about the markets. Pick the brains of everyone at work, get one of the top performers there to take you under his wing, and network too just in case it doesn't work out at your current place. Follow the industry, follow the markets obsessively. F*ck your phone bills and car insurance payments.
Really, where you will be in 15 years time is going to be determined mainly by how much moolah you can make in the trading industry, *not* by your monthly nut. The latter matters if you are a 9-5er in a steady job with limited prospects for dramatic increases in earning power. But you're not in a steady 9-5 field, you are in a cut-throat business where you either get rich or die trying.
Act accordingly.
Thanks Cutten
Rennick
ps. I just always wanted to say that
Rennick
ps. I just always wanted to say that
oh yeahhh, the dream is still alive!
very nice post, im sick of hearing these losers whine about saving pennies.<b> LONG LIVE THE FREE MARKET!</b>
surf
although not my first choice in that price range....
howard stern wears a tag. 'nuff said.
surf
