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I'm serving notice period in TCS and my last day is in 2 weeks. I requested for pickup of laptop in the portal but I came to know that it will take time for pickup and I won't be available if they come late. So I decided to go to office and surrender the laptop as I'm in the location of office only. Is there a seperate request to be raised for surrender of laptop and how to cancel the existing request for pickup. Please guide.Tata Consultancy
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I save first and then whatever is left I spend however the heck I want. If I spent first and then saved what was left, I'd never save anything.
While I respect monks and their choices, I wouldn’t be able to live like one. I have more than enough clothes, shoes, accessories and don’t need any more. I don’t prioritize these things anymore, so it’s helpful and reasonable for me to limit new items to 5 each year. It’s also saves me time because I don’t need to declutter as frequently. I prioritize travel and live experiences, so that’s where most of my discretionary spending goes towards. I go on about 40 personal trips a year so no deprivation in my life.
What I found works best is to pay my savings account and my investment account automatically out of each paycheck. My check is deposited by my employer, and the next day a set amount comes out for each. What's left is mine to pay bills and live on until the next check shows up. I don't beleive in carrying credit card debt, so I only use it for the points and then pay it off each month. I won't charge anything I can't pay off. It's hard at first, but gets easier as it becomes a habit. Good luck!
I do something similar. I’m a proud shopaholic. I simply love to shop. I have major interest in it. Most of my life, I was terrible at saving and nothing really worked for me. I recently started to save in September and found that the only thing that worked for me was making my savings an “expense“. Pretending it was a bill to pay. Retirement came automatically out of my checks. And personal savings came out of my checks as well into a HYSA thats kind of annoying to withdraw from, so my Shopping Monster doesn’t bother to pull from it since pulling from it won’t give me immediate access but access to the funds days later which defeats the point of “Instant Gratification “ 🤣🤣😭
To Software engineer 3: It absolutely is as simple as I make it sound. I was once in a financial situation, and this was part of the plan to get myself out. If I did not absolutely need it, I couldn't have it, I just stopped spending. Absolutely no non essentials. As far as well being? I felt spectacular when I reached the financial goal, Best well being plan on the planet. It was hard, but it was so well worth it.
Easy? No
Simple? Yes
Pay yourself an allowance. Put it in your budget. It's the only way we can control our spending.
So are you asking people who are addicted to shopping or better yet, addicted to spending how they're able to save because for those of us not addicted it should be pretty obvious. There are those of us who are addicted to saving.
What’s the mindset behind that? Where’s the anxiety there? What makes you addicted to saving?
A couple of books that might help:
Your Money or Your Life by Joe Dominguez and Vicki Robin
How To Get Out Of Debt by Jerrold Mundis
The Tightwad Gazette by Amy Dacyczyn
A lot of people swear by Dave Ramsey, but I'm not very familiar with his philosophies.
You can get these books from the library (free!).
When I got the urge to spend, I would ask myself which I would choose if I had to....that item, or the day off tomorrow to do whatever I wanted with no interruptions from work. The day off always won unless the item was something that would improve my life.
I had the same problem w/shopping. Got into debt. Freaked me out to the point where I vowed it would never happen again. After I paid everything down to zero, I started paying the full monthly amount on my cc. Been doing that for years. If I can't afford to pay something off within a month, I don't get it.
I sleep easier now. :)
Like others have said. Automate savings first. Then you can't spend it.
Personally, my consumerism shows up in my hobbies. I have too many guitar pedals. What helps me is realizing that I don't just have to earn these with money - I have to earn them through practicing my instrument. That slows me down a lot - why buy more stuff when I'm not making full use of what I have already?
Automate savings. I have auto-contributions set, so right off the top savings is taken care of. I also have a schedule to increase my emergency fund to 2x my annual needs before I retire, so I am regularly watching progress. Life happens, but when you contribute a fixed amount to savings first, and have it with in a fixed budget, anytime you have to dip into those savings later on is a warning sign that I am over spending and need to cut back. If you are a shop-aholic - you likely should be "recycling" things you no longer need and use the money returned from this activity to fuel your buying - i.e. if you are not selling, you are not buying - this puts pressure to sell and clean out to fuel shopping and allows savings to occur.
When people say they aren’t saving much, do you mean in addition to retirement savings (401k, IRA, etc) or do you mean you aren’t putting anything away?
Oh that’s different. I would definitely try to adjust that
My wife and I budget with the assumption that we fully fund all retirement options available to us (401k x2, HSA x2, IRA x2, mega 401k x1, etc) so at minimum we save ~$85k + company matches per year
Bro another post for the Therapy bowl
First of all you need to stop any impulse purchase and those shining cars, new cloths will cost you in the long run. If you don't need a car or a new car or you can get away without using a car then you don't have to spend money for keeping a car and paying off for a car. Avoid buying things you don't need is a must when it comes to save money. Next bit is about saving money and where to put your money. For a layback investment plan I will put the money on good ETFs, they are relatively risk free but there is still a risk, most ETF I found can earn a healthy asset increase of around 10% per year which is about double the interst you getting in a bank saving account. ETF can start from as little as 10 dollars in some brokerage platform with no brokerage, if you are on a steady job learn to invest with discipline try $100 a week, it will slowly accumulate, you can also learn about investment in individual stocks.
Subject Expert
ETFs are not "risk free."
And the OP is ill advised to buy individual stocks.
Along with everything else, try joining https://www.joindebbie.com This has lots of bite sized learning modules on how to save money and prep you psychologically to do. It also incentivizes if we can stay on the savings track.
Best of luck!
You have to learn how to delay gratification.
My paycheck goes directly to a high yeild savings and I "pay" myself weekly into my checking just enough to cover my monthly budget, which has been completed for the calendar year and has not increased in 3 years; any raise I get stays in savings. Yes, things are tight, but I have an emergency fund, savings and retirement account. I have an automatic transfer to my retirement account monthly and any "extra" cash that comes in (rebates, tax returns, etc) is split 50/50 between savings and retirement accounts.
Money comes out and into the account before I can touch it. 401k, IRA, HSA, brokerage acct, regular savings. Whatever is left, I can spend.
What you need to do is have an automatic draft; meaning as soon as your paycheck hits your account it is diverted to another account. It can be a savings account, 401K, IRA or something of that nature. Then the money remaining can be used to pay bills and then spending as you like. It is the easiest and most fool proof way to start saving.
Save at least 10% of your pay first before paying any bills, etc.
Keep the money in an account that you can’t access easily.
Dave Ramsey steps. Paid off mortgage, credit cards, no car payments. Every dime invested after bills paid. Re-evaluate big purchases-wait 24hrs prior to purchase. Shop with a list and stick to it. Budget out your week every Sunday night. Make lunches for work by making enough at dinner for left overs for lunch. Mandatory investments.
Decide how much you want to save each month, and save it first. If you are not reaching the target, find a freelance job to top it up.