Do you "BURN" your money?

Fortunatly, no. When I was living with my parents, one of the things I did was went out to breakfast 5 days a week. I even had an excuse. I couldn't eat at home becaiuse I had to wash everyhing b efore leaving and that could make me late for work - and did one day. Hey, it was only $5.00 a day. And I would leave early and avoid the rush hour traffic. Then I met someone, we bought a house together. I thougtht five dollars a day, that's $25.00 a week. That's $100.00 a month. No, I'm going to need that $100 for the mortgage. In 2008, I lost my job. Before that, my girlfriend lost her job and was outt of work for 6 months. I was out of work for 2 years. Despite that, partly because of my savings and just being good with money and largly because of un employment benefits, our house never went into forclosure, in fact we continued to pay over the minimum amount towards the principle and we never missed a house payment. It can be done. you don't have o be one paycheck away from being homeless. If you bring home your paycheck and don't putt at least 10 percent and preferably more, you could be headed for problems down the road. I still go out to breakfast - one day a week.

I was like you many years ago. I haven't really changed but now it's more a case of not having enough money to burn, or indeed ANY money in the last year or so. Everyone told me to save, but really, I could never have saved enough to buy a house which is the only thing with real value. Looking back, I'm glad that I didn't save because that money would have become virtually nothing due to inflation. I, at least, enjoyed that money at it's true value. Investment does sound sensible, but I have yet to find any scheme that consistently beats inflation. Sometimes bad habits can save you money, or prevent you from wasting it! It's just not the way that most people imagine.

I guess a lot of us had burned our money when we were younger. We were very carefree and didn't put too much value on what we had. We just kept on spending like money grows on trees. It was really a bad habit and I envy those who, at a very young age, are already aware of the value of money. How do I spend my money now? With frugality. But once in a while I treat myself by buying something expensive.

I never burned any money for my entire life. Maybe when I was young, I would cut its sides up to just 2 centimeters. I signify money very much even when I was still a child. I know I story of a student who was studying to the school where a friend of mine used to work. My friend told me the story. She said she saw the child during the recess time in front of the trash bin. When my friend walked closer to check what was going on, she saw that the child was cutting a pack of paper bills. My friend was shocked. Then she asked why was the child doing that. The child said that those money are products of crime. His father was a corrupt politician. That child really had a very much different way of thinking from his father.

not only burning by means of over spending it but burning in the sense that i smoke.

I still do this. Not always, but when I do get extra allowance, I tend to really spend it. But when I'm on my normal allowance, I tend to live like a pauper. So I guess I can qualify my occasional splurging. But I'm trying to teduce that habit and focus on investing it instead.

When I was younger I really didnt have a lot of money my allowence was $2.00 every 2weeks I think that is sad.. As far as now with this economy its hard to have any extra spending money left over after bills are paid off because things have gone up in the society..

Not at all, but I used to be more careless when I was younger, I will admit that. Now I budget and everything, so I guess you could say I am quite the opposite of that, LOL!

nope, i save it to spend it wisely. it will pay off in the long run instead of wasting it on less important things

When I was younger I didn't have an allowance. Every bit of money I had I earned by doing actual work (I had chores too, but we had a mortgage that needed paying first). My first cd payer and cd I spent 14 months washing all the cars in my street once a month to earn enough to buy it. I travelled overseas with school but I sold about 5000 chocolates to pay for it :) Now I'm older and been a student myself I did struggle (student life is really hard when you pay rent and fees and have no support from anyone else) But I'm glad to say I have no debt! I also have my own credit card and use it very often but again no debt. I thank my parents for the way I was brought up, otherwise I'd be in a really bad situation at 21. And now I'm starting my first real grownup fulltime job with the thought of owning my own house buy the time I'm 30. I reckon I can do it and my future kids won't have to deal with their parents working both day and night and having to miss out on the bigger school trips because they didn't manage to sell enough chocolates.

No, I'm trying to save for a new guitar.

a lot of college students have this bad habit .they usually spend theirs money just a moment at the start of one month ,but they will very worried about the last time in this month ,they'll very regret about what they did before but the next year they do like the past ,aha ,just like this ........

For quite a while I had been practicing the 100%-30%=70% rule. Meaning once I get my salary I deduct 30% for my savings and investments and spend the rest for my needs.