Lala's saving tips

[Mao]

Oh dear, I'm quite alarmed by Lala's tips, and various other tips being thrown around.

Saving is not a one-size-fits-all thing. What works for Lala does not necessarily work for everyone. The key to saving is not limiting yourself to less than $5/meal or "buying something, which you shouldn't be too often I hope". It especially shouldn't be "Leech from everyone and every damn thing.", because that's one sure way to lose friends very quickly.

Much of the advice here would be ridiculous for a majority of people. If you drastically change your spending habits without some kind of compassionate grounds, expect to see your friendship group to suddenly change as well.

The key to saving is setting a cap on your disposable income as a proportion of your regular income. Once you have a limit, then you can prioritise your spending into things you enjoy (travelling, going out to bars), and limit the spending for things you are willing to sacrifice on (lunch). Your spending habits will depend on how you choose your disposable spending cap. My cap is 50%, that is my lifestyle choice. Lala's might be close to 10%, but that is not a lifestyle that suits everyone.

And here is my most important point, saving for the sake of saving is not always a good idea, especially when you are a student, and especially when it is disguised as "saving for the future" without a detailed plan to back that up. Money is just a currency, there is little point to hoarding money without converting it to something with value.

Remember that your earning power ramps up significantly as you get a fulltime employment. As a student, $1000 is a lot of money, and represents a large amount of a student's social spending. $1000 becomes a much smaller amount once you have a fulltime wage (relatively speaking). Let's say you are saving up for a house deposit in 5 years, then the impact of the $1000 will be a delay of a month's worth of savings. Ask yourself, what do you have to sacrifice now for that $1000? Is it worth the benefit in 5 years? In 5 years time, would you rather place a deposit 1 month sooner, or be able to remember some great experiences you were able to have with that $1000 (such as travelling)?

Spending money is not always wasting money. Save wisely, but not every penny.

Reminds me of one particular forum member. They don't spend much on other things but when they do spend their money they spend it on a good whiskey because thats what they enjoy. I think its important to take into account the joy and happiness value here; sometimes that exceeds the monetary loss of a product (bonus). Almost everyone is looking to lead a good or happy life, so, constantly saving on absolutely everything might not be all that pleasant.

Is that me?

[Fyrefly]

Strongly agree with both Mao's posts.

Some of these tips even go so far as to disgust me a little, and I feel sorry for friends and family members who have to put up with that kind of behaviour.

[lala1911]

I think you've misinterpreted the leeching part I don't recall ever asking friends for money or anything at all, not even a loan. I've always used my own things, and I know people from my school use this forum so I wonder if they would comment for me . I just thought it would be a good idea to prevent buying fast food so that will be taken out.

I know what you mean, but if you work during vce and uni, you could save up to $35000 or so especially if you're on Youth Allowance. Five years working. A lot of money to give yourself a good headstart in life.

About the credit card reply, that would be one good use for it, I don't know. All I know is a lot of people fall for the trap of having an unlimited spending cap and struggle to pay off the debts. I know people who think they are invincible and start buying stuff with their credit card because they think and act as if they have the right to do so.

@Fyrefly I didn't think this thread would go so far to inflict guilt on people. Keep your own perception of me out of this thread or PM me to make this personal don't sabotage my thread.

[Fyrefly]

Not trying to sabotage, just trying to share another point of view.

I feel that abusing the good will of restaurant owners by trying to scam them into giving you "freebie" meals is wrong, and I should be free to share my opinion on "tips" like that without being accused of sabotage. If you're feeling guilty, then it's because I've pulled you up for something you know is wrong.

[lala1911]

Not trying to sabotage, just trying to share another point of view.

I feel that abusing the good will of restaurant owners by trying to scam them into giving you "freebie" meals is wrong, and I should be free to share my opinion on "tips" like that without being accused of sabotage. If you're feeling guilty, then it's because I've pulled you up for something you know is wrong.

Like I said it is "greyhat" so use at your own discretion. I don't feel guilt whatsoever from doing it. Don't try to shift this from family and friends not putting up with my behaviour because it wasn't a suitable argument and now to managers at stores. Not going to bother responding to your messages anymore if you're not going to contribute. I don't feel guilty in the slightest way I just find it rude how out of all these people who've replied, you've made it personal, when others are criticising my """""tips""""" not myself.

[Professor Polonsky]

inb4 lock

[Fyrefly]

I meant every word, and I'm not backing down or sidestepping it. But I'll say no more and leave it at that.

inb4 lock

I'm obviously not impartial so I'll be leaving this thread alone, but the other mods will discuss and make a decision.

[Lasercookie]

inb4 lock

:3 locked

This thread has veered away from being constructive. Thinking about being financially responsible and these kind of things are important, but at this stage we're just running around circles with the same type of responses to the original post. I also have opinions on this, but I think we'll have to wait for another day to have a more constructive discussion about this topic.