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Old 05-25-2016, 04:28 PM   #14901
D0UGHBOY
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re: Winrates, bankrolls, and finances

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Originally Posted by squid face View Post
7 bux on laundry? over a 5 week period!!!!


Yeah it's on the high side for a poker player.
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Old 05-25-2016, 04:28 PM   #14902
Dream Crusher
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by BigSkip View Post
And for that I thank Jeebus every night.
Having roommates is grrrrrrrrrrreat!

Quote:
Originally Posted by Duke0424 View Post
me first, heres what i got over the last 5 weeks

Alcohol: $160.00
Amazon: $138.20
Car Insurance: $285.51
Dates w/ Jen: $705.50
Food: $223.00
Furniture: $65.00
Gambling: (-$746.00)
Gas: $127.50
Gifts: $208.50
Grocery: $387.00
Headphones: $54.00
Laundry: $7.00
Netflix/Hulu/XM: $48.00
Poker Coaching: $318.98
Rent: $1,593.00
Shoes: $21.00
Shopping: $308.00
Snoopy Stuff: $147.00
Student Debt: $100.00
Table Expenses: $114.00
Travel: $383.00
Weed: $250.00

totals just under $5k
Pretty impressed that you have been tracking all this and it looks like a good starting point to creating a budget. I expect "snoopy stuff" will not generally cost you that much. Sounds like you incurred a lot of one time costs there. Although, you will have vet bills from time to time too.

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7 bux on laundry? over a 5 week period!!!!
Is this high or low?
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Old 05-25-2016, 04:30 PM   #14903
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re: Winrates, bankrolls, and finances

you realize you're spending almost $5000/year on substance abuse?
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Old 05-25-2016, 04:30 PM   #14904
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Originally Posted by Duke0424 View Post
dog food, dog sitting, leashes, collars, doggie clothes, toys, doggie shoes, hmmm i think that covers all the snoopy stuff
Legit thought you were buying like Peanuts Snoopy stuff.
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Old 05-25-2016, 04:30 PM   #14905
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you realize you're spending almost $5000/year on substance abuse?
Is this high or low?
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Old 05-25-2016, 04:35 PM   #14906
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About 6 months ago my wife and I started budgeting extensively. We sit down at the start of the month and map out to the dollar where everything is going. Either bills, savings, expenses, etc.

We cut down our debt and our monthly nut substantially this way.

Dave Ramsey is a Christian financial guru who's pretty famous for turning bad situations around pretty quickly. He said that managing money is like herding cats. If you're not paying attention to it, it will just leave and you won't know where, when, or how. it's a pretty true statement.
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Old 05-25-2016, 04:38 PM   #14907
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Spoiler:
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Old 05-25-2016, 04:40 PM   #14908
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by squid face View Post
7 bux on laundry? over a 5 week period!!!!
and the ****in machine ate like $3 too so its really only $4 that went to actual cleaning of clothes

(i have a lot of clothes, see high shopping expenses)

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you realize you're spending almost $5000/year on substance abuse?
its the way of the world my friend. if youre not getting high, youre not paying attention
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Old 05-25-2016, 04:45 PM   #14909
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re: Winrates, bankrolls, and finances

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doggie shoes
WTF?
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Old 05-25-2016, 04:46 PM   #14910
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theyre basically shoes made specifically for dogs, pretty self explanatory
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Old 05-25-2016, 04:50 PM   #14911
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I'd love to see pictures of said dog in doggie clothes and doggie shoes. Would be really cute if you put him in doggie diapers and let him wear a doggie hat.
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Old 05-25-2016, 04:57 PM   #14912
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theyre basically shoes made specifically for dogs, pretty self explanatory
lolz
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Old 05-25-2016, 05:00 PM   #14913
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re: Winrates, bankrolls, and finances

Duke saving thread, imo.

GlolzG
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Old 05-25-2016, 05:03 PM   #14914
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@VolumeKing - can you post like a grocery receipt or something? I'd love to see what $500/month in groceries looks like for a single person. That's insanity.
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Old 05-25-2016, 05:11 PM   #14915
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re: Winrates, bankrolls, and finances

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Originally Posted by spikeraw22 View Post
About 6 months ago my wife and I started budgeting extensively. We sit down at the start of the month and map out to the dollar where everything is going. Either bills, savings, expenses, etc.
But none to that new laptop eh? File it under "fire prevention & mitigation".

Quote:
Originally Posted by Duke0424 View Post
theyre basically shoes made specifically for dogs, pretty self explanatory
Like this?

https://youtu.be/5fP4emqw7O4

Edit: How do I embed a video?
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Old 05-25-2016, 06:01 PM   #14916
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by spikeraw22 View Post
About 6 months ago my wife and I started budgeting extensively. We sit down at the start of the month and map out to the dollar where everything is going. Either bills, savings, expenses, etc.

We cut down our debt and our monthly nut substantially this way.

Dave Ramsey is a Christian financial guru who's pretty famous for turning bad situations around pretty quickly. He said that managing money is like herding cats. If you're not paying attention to it, it will just leave and you won't know where, when, or how. it's a pretty true statement.
A lot of Ramsey's advice is pretty awful tbh. The debt stuff is probably ok but some of his investment advice is really bad. He's pretty much a joke to people who actually manage money.

But if that piece of his advice works for you then go for it obv.
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Old 05-25-2016, 06:20 PM   #14917
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by Duke0424 View Post
me first, heres what i got over the last 5 weeks

Alcohol:$160.00
Amazon:$138.20
Car Insurance:$285.51
Dates w/ Jen:$705.50
Food:$223.00
Furniture:$65.00
Gambling-$746.00)
Gas:$127.50
Gifts:$208.50
Grocery:$387.00
Headphones:$54.00
Laundry:$7.00
Netflix/Hulu/XM:$48.00
Poker Coaching:$318.98
Rent:$1,593.00
Shoes:$21.00
Shopping:$308.00
Snoopy Stuff:$147.00
Student Debt:$100.00
Table Expenses:$114.00
Travel:$383.00
Weed:$250.00

totals just under $5k
Those are some pretty sh***y headphones
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Old 05-25-2016, 06:21 PM   #14918
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re: Winrates, bankrolls, and finances

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Originally Posted by bwslim69 View Post
A lot of Ramsey's advice is pretty awful tbh. The debt stuff is probably ok but some of his investment advice is really bad. He's pretty much a joke to people who actually manage money.

But if that piece of his advice works for you then go for it obv.
DR's advice is best for those who had made a total disaster of their finances and need some simple rules to get things back in line. Even then some of his strat can still be bad.

I don't know much about his investment advice, but the way he broad brushes his debt advice I can see it being pretty terrible.

He does have some decent general advice (pay yourself first, etc) that is legit but you can get that from most anyone with a clue.
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Old 05-25-2016, 06:35 PM   #14919
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I think his tactics are good in the sense that most people who are in a lot of debt have a lifestyle issue and correcting that is the first thing that has to be done if there's any hope of ending up on solid financial footing.

So, I can understand that paying off a 0% interest loan doesn't make a lot of sense mathematically if you can invest that money elsewhere, but the concept of not owing money and not getting into situations where you take on more is a good thing.

To bring it back to bank rolls (isn't that what this thread is about?) If you can live debt free as a pro, you're ROR is significantly less than if you have a car, credit card, and house payment that have to be made no matter what kind of month you've had.

My main point with regards to DM was his comment about cats, which is right on. Gotta pay attention.
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Old 05-25-2016, 06:37 PM   #14920
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re: Winrates, bankrolls, and finances

Quote:
Originally Posted by Duke0424 View Post
dog food, dog sitting, leashes, collars, doggie clothes, toys, doggie shoes, hmmm i think that covers all the snoopy stuff
Quote:
Originally Posted by DeathCabForTootie View Post
WTF?
Quote:
Originally Posted by Duke0424 View Post
theyre basically shoes made specifically for dogs, pretty self explanatory
it's a slightly larger version of these

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Old 05-25-2016, 06:43 PM   #14921
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re: Winrates, bankrolls, and finances

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Originally Posted by bwslim69 View Post
A lot of Ramsey's advice is pretty awful tbh. The debt stuff is probably ok but some of his investment advice is really bad. He's pretty much a joke to people who actually manage money.

But if that piece of his advice works for you then go for it obv.
I'd say his advice on debt is pretty damn outstanding for the vast majority of Americans that don't have a clue. Most people would be well served to listen to his advice and heed it. Much of the advice is common sense to some of us but common sense isn't all that common when it comes to finances.

Quote:
Originally Posted by RockstarRossi View Post
Those are some pretty sh***y headphones
I wonder what the Millionaire Next Door would say about fancy headphones. I'm pretty sure it would say that 90% of all millionaires have never spent more than $54 on a set of headphones. I personally prefer my $20 pair of ear buds over any expensive over the ear headphones I've ever tried.
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Old 05-25-2016, 06:43 PM   #14922
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re: Winrates, bankrolls, and finances

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Originally Posted by johnnyBuz View Post
it's a slightly larger version of these

Lol beat me to it
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Old 05-25-2016, 08:47 PM   #14923
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This thread is amazing already !!
I pay my families cell phone bill. I really really need to cut down on food though. I probably spend $500-$1k a month drinking or smoking cigs as well.
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Old 05-25-2016, 10:56 PM   #14924
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*** Official Winrates, bankrolls, and finances ***

Quote:
Originally Posted by BigSkip View Post
DR's advice is best for those who had made a total disaster of their finances and need some simple rules to get things back in line. Even then some of his strat can still be bad.



I don't know much about his investment advice, but the way he broad brushes his debt advice I can see it being pretty terrible.



He does have some decent general advice (pay yourself first, etc) that is legit but you can get that from most anyone with a clue.


Basically says you should plan for 12% yoy return and should be 100% in equities all times with no fixed income at all. Also believes your withdrawal rate in retirement should be 8% which is hella lol. Sprinkle in a little Biblically inspired investment advice and I call bull**** on all of it.

His debt advice is actually awful too (just looked up tonight). Believes you should focus your debt repayment on the smallest balanced debt you have interest rate be damned. So if you owe 5k on a car loan with 1.9% and 25k on a credit card with 20% rate you should pay down the car loan ASAP then move on to the credit card.

Chew on that for a moment
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Old 05-25-2016, 11:15 PM   #14925
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haz teh dum today.



Looking for advice on emergency fund amount.


Why do you think you live below your means?


Sent from my iPad using Tapatalk
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