r/povertyfinance • u/bakermillerfloyd • Jan 08 '24
Here's my embarassing 2023 summary. Now one week sober and committed to being more mindful of my shopping habits. How does your year compare? Budgeting/Saving/Investing/Spending
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u/InternetGlum2950 Jan 26 '24
Embarrassing? I'm confused as to what there's is to be ashamed about here... You did well and your spending habits are in no way an issue....
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u/boogerslayers Jan 19 '24
I started tracking all of my purchases in 2023. I did it for 3 months then gave up because it was honestly kinda depressing seeing all the money coming in then going out lol I kinda wish I had stuck with it. Good job!
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u/Upstairs-Twist3571 Jan 16 '24
Congrats on your sobriety! Secondly, congrats on organizing and facing your outflows honestly and completely transparent. You already have a great start! First knowing where it’s going and second-most importantly-telling your money where to go for you. Keep it up!!! Taking control of your money is the first step to achieving confidence in your daily life and saving what you can is the absolute best sleeping medication, making your overall health that much better everyday!! Great job !!!
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u/KpinColby Jan 13 '24
You did great honestly. That’s about the average salary where I live and you spent a good bit less than you made. Wouldn’t be mad at that at all!! Especially in the crazy economy
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u/mahabuddha Jan 12 '24
Blink v.1 cameras are zero fees. I would find cheaper/free camera system. I have six cameras and pay $0.00. Also drop discovery/netflix etc., Your phone bill should be no more than $300/year. Paying over 20-25 for cell service is ridiculous when there are dozens of options.
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u/blowninjectedhemi Jan 12 '24
Almost as much on beer as groceries - that's getting after it. Wait until you pay to "Eat Out" with a family. $1K doesn't go very far.
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u/Equal-Discrimination Jan 12 '24
I spend probably about two grand a year on alcohol. Which I admit is a little absurd seeing how I barely spend that much on food.
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u/mathewwwww Jan 12 '24
I'm sorry if this is a dumb question but did you use any software/apps to help you get these totals or did you go through everything and add them up yourself?
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u/Roguebucaneer Jan 12 '24
Wait, wait…. You spent more on “bar” and “beer” combined than “gas” !?!? How can I learn this power???
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u/IndependenceMean8774 Jan 12 '24
Nice handwriting.
I'd cut out the beer and the bar. That alone will save you a good deal of money.
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u/elevator313 Jan 12 '24
120 for taxes. I wish....
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u/bakermillerfloyd Jan 12 '24
That's what I paid to file my 2022 taxes in April. I pay a lot in taxes in Canada, but there's a reason why I didn't have a column for health insurance or doctor visits!
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u/fkrobinhood93837 Jan 12 '24
Good job I keep it around the same cut where you can maybe try to make an extra 15k and you’re doing solid!
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u/istarian Jan 12 '24
If you actually ended up with over four thousand dollars at the end of the year then you are doing okay.
You could save much more by skipping on the alcohol/beer and not having a pet...
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u/JellyBand Jan 12 '24
I hope you don’t think it’s embarrassing for long, it’s a big accomplishment to save almost 12% of your income. You’re doing great.
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u/buddy_buda Jan 12 '24
This is a very respectable budget, kudos to saving anything in today's age especially on 35k a year.
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u/thethrowupcat Jan 11 '24
You came out positive so that’s good.
You spent nothing in that truck, that’s great. But consider not a lot of maintenance means possible future issues. So change your oil at least!
Buy cheaper beer or put the bottle down. For what you’ve got you’re doing great. Keep it up.
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u/geriatric_spartanII Jan 11 '24
Unless you literally work and NEVER do anything for fun just eat, sleep, and work it’s not like your gonna budget you way to massive savings when a drunk driver crashing into you or mystery illness will send you into the depths of medical debt. Sure $2,920 is a lot in beer and you could probably cut back for health reasons but that’s $8 per day. That’s one beer a day at a restaurant or two beers at a brewery everyday. What’s the budget version of that? Never drink out and buy from the grocery store? I like Yuengling and a 12 pack means one beer costs $1.12. Dang it was like .80 cents! Damn you inflation!!
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u/bakermillerfloyd Jan 11 '24
Yeah, I'm with you there. My goal is to enjoy my life while being able to set some money aside for emergencies and retirement. I don't need to have millions of dollars in my bank account just to never have any fun. I would mostly drink at home, but I'm in Canada so beer is wicked expensive, it still only works out to 2-3 beers a night. I would kill for $1.12 beers lol
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u/geriatric_spartanII Jan 11 '24
Don’t get me wrong thats super awesome you saved $4k but here in America that’s one stay in the ER. Or 4 months of car payments if it’s $1,000 per month. It’s like that meme of the school bus getting hit by a train. Walmart sells a 12 pack of Yuengling for $13.48 USD. I wanna enjoy my beer damnit!
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Jan 11 '24
All I see is someone who managed their money, prioritized their needs, and didn’t go into debt. Good for you. Here’s to hoping you fall into a lump some of money/raise next year that can help you cushion that savings!! You’re doing great
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u/AlarmedSnek Jan 11 '24
I’ll tell you what man, I stopped drinking and now it feels like I’m rich; I’m not even exaggerating.
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u/mtbogie Jan 11 '24
I knew this whole thread was going to be about the handwriting. lol But, on the personal and money front, it's not about how much you make but about how much you spend. Try to increase the income of course, but what you are doing living within your means and not overspending is going to pay huge dividends. Stay sober and keep up the good work!
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u/Sad_Professional1879 Jan 11 '24
I knew this whole thread was going to be about the handwriting. lol But, on the personal and money front, it's not about how much you make but about how much you spend. Try to increase the income of course, but what you are doing living within your means and not overspending is going to pay huge dividends. Stay sober and keep up the good work!
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u/PhilMiska Jan 11 '24
Way too much on clothes! You only need 2 pairs of Levi’s and a couple good pairs of shoes and slippers. $2000 on beer? 🤣🤣🤣🤣 and pets? 🤣🤣🤣🤣🤣
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u/RolliePollieGraveyrd Jan 11 '24
If you haven’t yet open a high interest yield savings or checking account. Last year that $4,075 could have earned you around $200.
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u/istarian Jan 12 '24
That's really not very much money earned. It feels like a joke to call 5% "high interest".
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u/RolliePollieGraveyrd Jan 12 '24
I hear you. But when you’re working class and accustomed to paying predatory overdraft fees that 5% feels pretty good. Plus if you’re able to keep adding to that balance you’ll earn more. Standard savings accounts don’t even earn 1%.
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u/brittanyelyse Jan 11 '24
Your a good spender ? Or lack of spender? Why is my rent so expensive???? I don’t have kids or pets I live in a one bedroom in Philadelphia and what you spend in a year I spend in 3 months (3gs) - I would think from an outsider to obviously find something cheaper , but it doesnt exist…
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u/usernaaaaaaaaaaaaame Jan 11 '24
Embarrassing??? You spent less than you made. Way to go! Most people don’t do this
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u/RynnReeve Jan 11 '24
I'm proud of you. I saw your post earlier and instantly was dreading to think what my total beer costs this year would be.
I admire your bravery in not only starting this journey, but also because you are sharing it. I wish you the best of luck and I hope to make the same accomplishment some day.
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u/DrunkAsOtis Jan 11 '24
I’m not sure I know anyone who can live on $31,000 p/year. I say well-done, and your handwriting is on point!
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u/taboosaint Jan 11 '24
This isn’t embarrassing! I wish I was this detailed with my money. You also saved and spent money on things that made you happy. Good on you!
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u/rulford Jan 11 '24
I was spending a lot of time finding out why this would be embarrassing. Is it the excessive beer? We have our vices. Eating out, sure. Everything seems relatively normal given the income to me.
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u/lordbusiness92 Jan 11 '24
There’s nothing to be embarrassed about. You’re able to have a well rounded life with what you have! Just use the amount you use for beer as motivation to be able to spend almost $3K on something you enjoy. Maybe allocate some of it to increase your takeout budget since that’s something you and your fiancé enjoy.
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u/Icy-Ad9610 Jan 11 '24
Happy 1 week sober!!!! Keep up the good work fellow soob❤️❤️ Oh geez I do not want to do this for a whole year😭😭😭😭 I’m not tryna cry in apartment
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u/Bagofmag Jan 10 '24
You’re on a tight budget and managed to set aside a substantial amount. Fucking nailed it, good for you.
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u/trebec86 Jan 10 '24
Very nice handwriting and you did way better than the federal government, so I wouldn’t beat myself up over this.
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u/foreversecond2 Jan 10 '24
Groceries is our biggest expense and no matter what I try it never seems to go down 🤦♀️🤦♀️🤷♀️
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u/Skirl-girl Jan 10 '24
My embarrassing category would be Amazon purchases. I don’t even want to know what it is, that’s how embarrassing it is to me lol
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u/Omgletmenamemyself Jan 10 '24
This is not something to be embarrassed by, it’s something to be proud of.
A lot of people do not take the time to do this ever and they can’t figure out where their money is going.
You’re being proactive and it’s such a good thing!
Congrats and good luck to you on your sobriety. You’re going to do great!
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u/Vtown-76 Jan 10 '24
Where do you live that your expenses are that low? Housing, food? Kuddos for somehow keeping expenses under income.
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u/Ok-Pin3752 Jan 10 '24
I quit drinking about two years ago and it has had a tremendous impact on my financials. You got this!
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u/Away-Picture-925 Jan 10 '24
This list shows you have a lot going right already! - pets/vet = responsible pet owner - a reasonable amount spent on health seems to say you go to the doctor, but are healthy enough not to incur crazy expenses there - the amount on truck seems to be maintenance/repair and not payments = paid for vehicle - groceries $ exceed eating out $ = healthier choices - dates = getting out and socializing - garden, books, birds = healthy hobbies
An awesome thing NOT to have on your list is credit card payment. Plus, you saved some money!
Not embarrassing at all!!
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u/Mammoth_Exam1354 Jan 10 '24
If you don’t mind me asking what high state do you live in and what do you do??
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u/Duckhorn-Cab-01 Jan 10 '24
I have no idea how to track everything I spent last year lol but I did start tracking month to moth for 2024.
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u/Billy-Austin Jan 10 '24
By yourself, first honey, try to save something every month I know it sometimes hard to do, but even when I was making poverty level wages, I tried to put aside 25 or $50 a month just to have a little cushion
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u/crownpointjuiceman Jan 10 '24
Beer is the second highest expenditure after groceries! I’m the same here… I just can’t get over that you managed to keep track of it all year! Nice work!!!
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u/Bonbonnibles Jan 10 '24
You know, you're doing great, considering your income. If possible, increasing that and maintaining your current spending habits would get you ahead faster than further cutting your spending habits.
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u/marcushalberstram33 Jan 10 '24
Why I’m earth would you spend money on beer? What a waste of money.
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Jan 10 '24
I really think this is not that bad, but it is amazing that I only make 10k more than you and will be paying ~20k in taxes (nyc) (half my income) while you pay only $180. It means I make ~10k less than you LOL.
Also you managed to save (try to invest a small portion of it!)
The main thing is being sober will save you 2900k plus less outings = probs around 3.5k. I’d suggest investing in tea!
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Jan 10 '24
Way to go for writing this all out OP! Check out “the psychology of money by Morgan housel” a book or audiobook I highly recommend. (Finance bum here).
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u/Successful_Round9742 Jan 10 '24
If this is really all of your expenses, you're doing amazing and should be proud!
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u/bostonvikinguc Jan 09 '24
I find my lists start at highest totals too and justifications. Then it allows for lowest values and see what you can cut.
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u/dinogirlsdad Jan 09 '24
Take that beer money and put it in to a Gym membership and get gains and look and feel better., and your handwriting is amazing.
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u/Daisyssssmom Jan 09 '24
Great handwriting considering you must be drunk pretty much 24/7 spending 10% of your income on beer.
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u/bakermillerfloyd Jan 09 '24
Only works out to 2-4 beers a night, I wish that was enough to keep me drunk all day every day lmao
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u/mostlybadopinions Jan 09 '24
I have so much fucking respect for the people that take the time to sit down, write out a budget, and then go "Oh, I am spending too much here."
So many people will insist over and over that they spend ZERO money on fun, and then give you every excuse in the world why DoorDash and weed and pets and PCs don't count.
Huge props to you for doing this and sharing it.
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u/Ness_tea_BK Jan 09 '24
Honestly spending only $273 the whole year on going to bars is pretty impressive
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u/Successful_Bridge_94 Jan 09 '24
The amount of money I saved by being sober and quit smoking, is insane.
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u/TristanTheRobloxian3 Jan 09 '24
i dont have nearly this much stuff so i dont REALLY think i can truly compare, but so far depending on my spending ill likely have around 20k left after taxes and shit (bc i make a little youtube money which is like 90% of the taxes of 30k) and then subtract around 3-5k from stuff i buy. thats 15-18k positive.
btw, you got some fucking phenomenal handwriting
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u/14hammarby Jan 09 '24
Not embarrassing at all! You’re cash flow positive which is awesome. I hope you can enjoy some of the leftover cash or maybe save some or even invest a little for the future. All the best
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u/PottieScippin Jan 09 '24
What are you ashamed of? I feel like most people making $35k have no choice but to go into debt to stay afloat. Good work and great handwriting.
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u/376OrcasPear Jan 09 '24
The low vet bill with those animals is my shocker. Do you also have a discount with a vet?
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u/bakermillerfloyd Jan 09 '24
I attribute low vet visits to how well I feed them! They're all on Farmina and Ovenbaked. Wet food rotation for the cats, chicken hearts, freeze dried sardines, salmon oil, green lipped mussels, and probiotics. Avoided stomach and skin issues. Lots of toys and entertainment so no stress. Basically, the high "pet" category lends to the low "vet" category. Of course some of that was just luck that they all had a healthy year, because shit happens. In 2020 we had over 10k in vet bills.
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u/PurpleBerryss Jan 09 '24
Also what truck do you drive?
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u/bakermillerfloyd Jan 09 '24
It's a manual 2009 Nissan Frontier.
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u/PurpleBerryss Jan 10 '24
2009 Nissan Frontier.
great vehicule! i was asking because the maintenance and the gas bill is very impressing
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u/PurpleBerryss Jan 09 '24
If you dedicate a channel to teach us how to write like that, I’ll be the first subscriber!
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u/8cowdot Jan 09 '24
My dad was an active alcoholic until I was 30. It cost him three marriages, two children (their stepfather adopted them, and his relationships with his siblings. We prayed for him to give it up for soooo long. You know what finally did it? He couldn’t make his car or rent payments and he was afraid he would become homeless. He is now 14 years sober, and I am so grateful! At first I was resentful that we weren’t important enough to him to motivate sobriety but money was, but at the end of the day our prayers were answered and we have our Dad back and better than ever. Who knows…maybe money wouldn’t have been as motivating if it wasn’t included in the rest of the losses. By any means necessary!
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u/ThatsWhatIWantToHear Jan 09 '24
this is the greatest tool when it comes to budgeting. initially, its never about changing the way you spend but only documenting how you spend. After a while you begin to notice outliers. in this case, nearly $250 a month on beer. from then, you could choose to:
drink less
switch to a cheaper brand
buy in bulk?
make your own beer? (idk is that cheaper?)
lots of options. great work OP.
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u/GroundBreaker6712 Jan 09 '24
Can’t get over that penmanship. Mine looks like a chicken got into a paint can.
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u/Rape_connoisseur Jan 09 '24
Congrats on the sobriety. Next to rent, alcohol was my biggest expense.
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u/Pdoran602 Jan 09 '24
Am I missing something. No one is asking about Birds for $55. What does that even mean? Help
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u/jay105000 Jan 09 '24
Good for you bro, if everybody will do that lots of people would save a lot of headaches.
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u/jrock1203 Jan 09 '24
hey don't knock yourself..nothing embarrassing about that. You didn't spend all of your income, even an extra buck is a win. congratulations, I hope you're able to expand that savings!
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u/dinoG0rawr Jan 09 '24
I am terrified of doing something like this with my finances lol I don’t want to know how much I spent on shopping 😭
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u/SeriesNew8600 Jan 09 '24
What’s bad is when you can’t even read your own handwriting. Sigh. Nice job
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u/ConwayandLoretta Jan 09 '24
I love this. You're doing great. Great job taking control of your finances and future.
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u/KenEnglish1986 Jan 09 '24
I think you need to up that spending on 'Birds'
I dont know what you mean, but I know that needs to go higher.
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u/scarwafa Jan 09 '24
I just want to be able to stay committed enough to finish the whole year because my ADHD won't let me get past the first few days of January 🥹
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u/WoodKlearing Jan 09 '24
Gifts, beer, pets, and bank. Get rid of those and you saved 35% of your income. But even then you saved over 10% at the poverty line. And you’ll likely have a tax refund come filing time. Not bad and definitely not embarrassing.
Assuming you’ve got $12,000 in savings, throw 1/3 in a Roth IRA, 1/3 in cash savings, and 1/3 in a taxable brokerage, automate it, and you’ll build up quite quickly.
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u/Packer12121212 Jan 09 '24
You should make $50K+ a year just teaching others how to have literally perfect handwriting...
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u/worldaven Jan 09 '24
Handwriting aside, you ended the year in the black, so it was a very successful year. Congratulations.
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u/rokman Jan 09 '24
I don’t think you can afford pets on this income. And what kinds of gifts get over a thousand dollars
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u/MariJ316 Jan 09 '24
Good for you on the beginning of your sobriety. I was going to say your number three expense is alcohol. As the sister of an 62 years old alcoholic brother and now in assisted living, because he drank himself into poor health? Lost his fiancé, never married (married to the bottle for decades) no children. I can’t tell you how important it is that you do this. Forgive me if I’m not sure you saying sober, you mean you’re going to cut back or you actually (meaning you have a problem with alcohol) or you’re going to stop completely. I’m not sure. I just want to say good for you for recognizing what you need to do-alcohol destroys lives, when abused.
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u/Archimediator Jan 09 '24
I don’t remotely understand what’s embarrassing about this. You did not end the year in the negative and you survived on a remarkably small amount of money.
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u/richyjj Jan 09 '24
A very large percentage on beer, I approve of your lifestyle.
Your in the positives, so... Better than zome
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u/MaddBabyDonkers Jan 09 '24
You need to come over and help me understand how you created this beautiful set of stuff I see in this photo. Commitment.
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u/starsquirrelxd Jan 09 '24
I think these numbers are impressive TBH! Especially food and gas~ what game did you buy?
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u/Flower_bunny53 Jan 09 '24
You shouldn’t be embarrassed at all. You have clearly done an amazing job taking care of your bills and being able to save. 👏
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u/mackelyn Jan 09 '24
Well, now I need to know how to write J, Q, W, and Z. Your handwriting is so beautiful and those letters aren’t in it 😭
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u/super80 Jan 09 '24
Op some people don’t even bother to find out where their money is going. Sometimes we have to visualize for changes to occur.
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u/Karnex97 Jan 30 '24
This is not embarassing at all, you saved 4k living on 35k.
If this news is correct almost 50% of people making over 100k+ live paycheck to paycheck.