I am terrible with money. I am trying to reverse that trend now, but I was never really taught to manage finances and never had any role model for that. I have been like you describe for a long time and am trying to model some of the guys who I work with who are much better with oney and save very well.
This. The friends who I float regularly are younger ones who are just getting started in life and I don't mind fronting some to have their company when we are being social. They never ask for it, we just offer. When I was younger and poorer, I had friends who did the same for me, so I am just paying it forward. What you are doing is more akin to enabling people. I think your life would improve a lot of you moved on and got a new circle of friends, but then again a lot of the details about you suggest you are happy doing what you are doing, so there is that.Khane_sl said:
I actually got a credit card before I went to Europe last month because Capitol One has a credit card with zero foreign transaction fees. That had to save me so much cash while I was over there. I already paid it off and used it for my NY trip next week. The company's accounting firm can be so damn slow sometimes though. I might not get the money back until the billing cycle has passed. I have no idea how these things work though.
I'm just being cheeky. I am interested in your response though to my post where I asked what you'd do if you got fired, or had to float a big house repair, buy a new car, etc. No credit cards makes those situations even harder to handle.
Personally, I quite like the credit card roulette when you've got a huge bill to split between 8 dudes on a guys trip or something. Hilarity always ensues. Unless you card comes up. Then fuuuuuuuuuuuuuuccccckckkkk
A couple of my good friends are in their early 30s and are pretty much in the same place they were when they graduated high school. That's not my fault, that's their fault. I shouldn't have to feel bad if they agree to come out for dinner or drinks that they can't afford it, it was their choice to come. Similarly, I shouldn't have to think "shit, should I not extend the invite to our whole WhatsApp chat group because Bill/Tim are fucking dead beats and I'll feel obligated to pay if they show up?" Fuck that. They're my boys and I love them, and I'll occasionally help them out, but their problems are not my fucking problems.
Credit cards aren't evil. Getting credit cards that have a limit beyond anything you could ever afford paying back, and abusing those limits, is evil. It's like the plastic version of the gun control argument.
I can do $60k on 3 total empty cards and probably $2k in cash on any day without touching any 401K or the kids college savings. Right now that cash is so low after a move from Germany and $6k out of pocket last year for medical bills.
Its really its own difficulty being good with money. You basically have to learn how to not want stuff.
Living in San Diego on a combined income of ~75k with a wife that has the "afford" mentality.
I average 4% back on everything I spend except for my mortgage, because everything goes on rewards cards. In your case look at all your business expenses that you get 100% reimbursed for. Now add 4% on top of that. That would be cash in your pocket with the right rewards cards. Check out fatwallet.com/finance, sticky at the top has a list of every good rewards card currently available. There are 2% on everything cards, 5% on gas/groceries/drugstore, 5% on hotels/travel, etc. Just pay them off every month. $2,500 bill could be $125 in rewards.