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Just got kicked out of the house watch

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    (Original post by Awesome Genius)
    I stated the figures above. Expenses are much worse than you think!

    As far as getting rich, first you have to find a good job, build experience and contacts and then the amount of capital you start with is not *that* important - it's more about convincing people to invest in you.
    I don't know man I mean I think that whilst I agree with you on the capital thing and that you need to convince people to invest in you, being creative will get you very far too, see you mocked me for being a programmer but it's going to really help me when I want to build my software company because I'll be able to make the prototype app on my own and then pitch it, whereas other people will have to rely on hiring others who may be flaky or untrustworthy, personally I'd never share my ideas with anyone after being stabbed in the back in a business venture back in 13'.

    You should consider cutting down your expenses too, It's great you have a high paid job, but you will never be rich if you spend too much, trust me on this. The richest people in this world don't spend until they have the big bucks. until you've got 1m in the bank I don't think there's any point owning a sportscar, it just drains very much needed capitol you can put to gaining more.

    After all, wealth is exponential, the more you have the easier it is to obtain more, the less you have the harder it is to get that critical mass going.

    If you make cuts to your expenses then you will be able to capitalize on that later on, if you don't you will end up stagnating.

    I know the rich; even though my family is poor, my gf is from a multi million $ family who own hospitals, resorts, you name it they have their hands in it. Properties all over the world etc. She taught me a lot about what you need to make it, and she's been instilled her whole life to be frugal and not to spend, it's how the rich become richer, in a way it's the secret to being rich. Never splash out, save, invest. consider assets/liabilities. A car is a liability and a deprecating asset etc etc.

    Honestly mang, listen to me I know my ****

    Even if I'm just an employee now, believe me in the future I'ma be balling; my plan is all set out. All i need is time
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    (Original post by Awesome Genius)
    Last month,

    Income stream 1 = £2650
    Income stream 2 = £850

    Total 3500

    Outgoings (potential from next month)

    Car 600
    Rent 500
    Clothes 200
    Transport & Fuel 600
    Food 600
    Bills 200

    = £2700 ish

    I'd have only £800 left after all essential expenses.

    That is not even enough to buy an iPhone.
    When you say 'essential', many really aren't essential.
    How do you manage to spend 600 a month on food? 200 on clothes? You don't have to throw away previous clothes you realise
    Options I can see is: move somewhere more reasonable or get rid of the extremely expensive car if possible (1,200 on car and fuel per month!!)
    Even still, sounds like you're living extremely well... I mean... £600 on food...
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    (Original post by Awesome Genius)

    I'd have only £800 left after all essential expenses.

    That is not even enough to buy an iPhone.
    Uh... £800 should be plenty to buy an iPhone.

    I'm guessing that only a 128GB iPhone 6s would satisfy you, yeah?
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    (Original post by TheMaster102)
    I don't know man I mean I think that whilst I agree with you on the capital thing and that you need to convince people to invest in you, being creative will get you very far too, see you mocked me for being a programmer but it's going to really help me when I want to build my software company because I'll be able to make the prototype app on my own and then pitch it, whereas other people will have to rely on hiring others who may be flaky or untrustworthy, personally I'd never share my ideas with anyone after being stabbed in the back in a business venture back in 13'.
    Spoiler:
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    You should consider cutting down your expenses too, It's great you have a high paid job, but you will never be rich if you spend too much, trust me on this. The richest people in this world don't spend until they have the big bucks. until you've got 1m in the bank I don't think there's any point owning a sportscar, it just drains very much needed capitol you can put to gaining more.

    After all, wealth is exponential, the more you have the easier it is to obtain more, the less you have the harder it is to get that critical mass going.

    If you make cuts to your expenses then you will be able to capitalize on that later on, if you don't you will end up stagnating.

    I know the rich; even though my family is poor, my gf is from a multi million $ family who own hospitals, resorts, you name it they have their hands in it. Properties all over the world etc. She taught me a lot about what you need to make it, and she's been instilled her whole life to be frugal and not to spend, it's how the rich become richer, in a way it's the secret to being rich. Never splash out, save, invest. consider assets/liabilities. A car is a liability and a deprecating asset etc etc.

    Honestly mang, listen to me I know my ****

    Even if I'm just an employee now, believe me in the future I'ma be balling; my plan is all set out. All i need is time

    Dud your gf seems pretty smart and what you says makes sense.
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    (Original post by Awesome Genius)
    Last month,

    Income stream 1 = £2650
    Income stream 2 = £850

    Total 3500

    Outgoings (potential from next month)

    Car 600
    Rent 500
    Clothes 200
    Transport & Fuel 600
    Food 600
    Bills 200

    = £2700 ish

    I'd have only £800 left after all essential expenses.

    That is not even enough to buy an iPhone.
    Bib: Yes it is, you could buy an iPhone and still have some left over. That's nearly as much as some people earn per month before bills are taken out so you're extremely lucky.

    How can you spend £600 each on food and transport though? How many people are you feeding?
    I really doubt you need to spend £200 on clothes every month too.
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    After rent and all bills except internet, I'm living off roughly 40€/week atm (still waiting for that Erasmus grant!). That's for food, social life, travel (outside of Berlin, my travel within Berlin was paid as a lump sum), Internet etc. You're doing pretty well... I mean, I know I'm a student so not working and used to being poor but still.
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    (Original post by Awesome Genius)
    What happened is that they bought the flat as an investment and we agreed that they'd pay the mortgage until I have a stable job - right now it's a bit dodgy. Then im supposed to takeover the mortgage.They paid the entire deposit. Hence i thought the car would be a good idea.

    They have now reconsidered the situation and decided to make me some rent since they consider my current form of employment as "stable" - even tho I'm effectively doing two jobs and one of them is on an ad-hoc basis.
    A decision which I'm sure was in no way triggered by your deciding to buy a BMW playboy-mobile on finance.
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    (Original post by Kaeden)
    Uh... £800 should be plenty to buy an iPhone.

    I'm guessing that only a 128GB iPhone 6s would satisfy you, yeah?
    Oh the pain
    Spoiler:
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    Lol I always have a 16gb iPhone xD
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    (Original post by Awesome Genius)
    Last month,

    Income stream 1 = £2650
    Income stream 2 = £850

    Total 3500

    Outgoings (potential from next month)

    Car 600
    Rent 500
    Clothes 200
    Transport & Fuel 600
    Food 600
    Bills 200

    = £2700 ish

    I'd have only £800 left after all essential expenses.

    That is not even enough to buy an iPhone.
    Dude these figures are horrendous, you're never going to get rich this way, what waste.

    You will be a poor man in an armani suit and a BMW and a ball and chain of debt on his ankle with this kind of spending.

    food £600? this budget needs to be cut to about £200. I have no idea what you're eating to spend so much, £300 max, £64 a week is plenty for a single man even if you want to eat well, £600 is just excessive and wasteful.

    clothes £200? Dude are you seriously going to spend that much money on clothes EVERY month? if so that's insane man. Most of them will never get worn and you know it, cut this budget right down to £50 MAX, sure you can splash £200+ every so often but every month is just ridic.

    Fuel costs can't really go down that much tbh so no help there.

    If you cut your cloths and food budget to my suggested level that's a saving of about £550 which will give you about £1300 in total, which is not too shabby at all.

    FYI though, I earn a lot less than you but I'm saving at least £1500 in my savings account every month, so my savings will be growing more than yours despite the fact I earn less than half of your salary.

    SO really consider if you want to waste your money the way you do. The car is bought, it was a mistake in my opinon but there's nothing you can do about that.

    Don't be a poor boy in an armani suit, for gods sake, that's a trap my friend
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    (Original post by ujuo_)
    Oh the pain
    Spoiler:
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    Lol I always have a 16gb iPhone xD
    Me too!

    I've never needed anything more than 16gb.
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    (Original post by Kaeden)
    Me too!

    I've never needed anything more than 16gb.

    I mean, I have Mac anyways so no point xD
    Spoiler:
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    Plus and iPad, 16GB also but it's the first mini so I've had it for a while (still got tons of space left )
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    (Original post by TheMaster102)
    food £600? this budget needs to be cut to about £200. I have no idea what you're eating to spend so much, £300 max, £64 a week is plenty for a single man even if you want to eat well, £600 is just excessive and wasteful
    50 quid a week. Do you not visit restaurants?
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    It stuns me how TSR, full of so many smart people, repeatedly feeds this troll (srs)
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    (Original post by callum_law)
    50 quid a week. Do you not visit restaurants?
    Why would I go to restaurants when my gf cooks better food for me at home, also restaurants are a nice treat at times but if you're serious about getting rich when you're poor you can't do these things.

    As far as I'm concerned money is there to be saved until I am rich, until I have 1m in the bank I'm not done "working". You need to work to get that money and you need to save, especially if you're from a poor as family like mine, literally I'm from a family that got 100% of it's income from benefits.

    My father was a lousy lunatic communist who lost his job and now lives off benefits, I had no savings, no backing from parents, nothing. I had literally nothing, but now I'm approaching 15k in savings, live in central london, good high paid job etc...

    You've got to change your mindset if you want things, my father was a failure because he never thought about money, he only thought about himself and his political beliefs, yet he never actually contributed anything to the world because he was always poor and powerless, he didn't value money, saw money as evil and has no money, my father aged 55 lives with his mother, how tragic... I don't respect my own father one bit, in fact I even resent him a lot for making my life harder by being such a loser.

    But at least when I do make It I'll be one of those rich people who truly made it on their own and came from nothing.
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    :troll:
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    (Original post by eoe)
    How can parents kick their own son/daughter out of the house.

    Gora Parents, I guess
    More like Muslim parents
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    £480 a month for central London is cheap af bro, maybe you need to cut back on the other things.
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    (Original post by OU Student)
    You claim you earn £60k and you're whinging about having to pay £480 a month?
    Where did he?
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    (Original post by RiotGirll)
    It stuns me how TSR, full of so many smart people, repeatedly feeds this troll (srs)
    Most people on TSR aren't smart.
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    (Original post by Awesome Genius)
    My parents visited me at my flat this morning. They were in a bad mood - or at least my mum was. They started having a go at me about my spending and stuff.

    They made some ludicrous point about how I am earning so I should be paying rent even though we agreed I was keeping their flat safe for them.

    And then the unthinkable happened - they effectively kicked me out of the house. They are demanding that I pay £480 a month to live in their flat.

    Just don't know what to think right now, feeling kinda numb.
    So is the £480 for the mortgage that your parents have to pay on the flat?
 
 
 
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