Do you live below, at or above your means?

Years ago when I was with my ex we probably lived above our means. Mostly because of her. Now I definitely live below my means because I'm a tight ass who doesn't care about having "stuff".

What about you guys?

 

Below, I'm tight with money.

 

Below.

 

Try to live neither below or above, but right "at my means" if that makes sense. Recently I was living above though, now trying to live below to balance things out before I can even out like I stated above. But rent the way it is, that makes it hard. Plus I try to eat well, so there are not a lot of other things I can cut out (beer drinking is one I will have to).

 

La La La

 

We live within our means. Not above or below but we're comfortable. I'm not one that feels like I need to keep up with the joneses though. I have what I want and need. I'm not high maintenance.

 

above

the balloon has managed to avoid the powerlines so far but one of these days there will be a spectacular crash and burn

 

Quick answer is below.

I have no debt. Only bills. The job pays for the bills. The job isn't bad. Underpaid sure but I don't hate what I need to do to make that money happen. Plus I get free books, books at a discount, books all day long. I like books. I like my job. Sure I can't get the keurig or the Xbox live thing or a new guitar but that's okay. I have what I require to enjoy a day and am assured that it will last as long as I can handle my job. Anything more than that feels either like an unnecessary risk or greed.

 

Below as I tend to save and invest. Not that there is anything I do without as I do not. I do use my credit card as it is convenient but I never have a balance owing on it.

I own my own home and have no debt other than current monthly utilities. I am fortunate to have employment that I not only love but that also has allowed me to be self sufficient.

 

I'm so broke it would be pretty difficult to live below my means. I certainly don't live above them--I have no credit card, no television, rarely buy new clothes or things.

Yet, I have everything I need and almost everything I could want. And I live with the person I love. What else is there?

 

I shouldn't say I don't buy things at all because I do. But I'll tell you guys what our system is. I get paid X amount. A certain percentage goes into 3 different savings (for different purposes) right off the top. My wife and I split the rest 50/50. We each have our own financial obligations to meet and whatever each has left over is theirs to do with as they please....no questions asked...as long as those bills are paid and they always are. She gets to keep her entire pay check for whatever she wants but I keep whatever I make doing "side work" of the weekends if I feel like doing it.

So that works for us. It might not work for everyone but we rarely argue and if we do, it's never about money. We have no credit card, student loan or medical debt. We pretty much just pay for things as we go or we don't buy them (that doesn't include equipment for my business. I have to finance some of it because it's really expensive but I need it. There is really no discussion of such things though. That's on me to cover out of my part of the money or one of the savings dedicated to such costs. I'll buy it if I need it.)

 

Does she make the same amount as you? Curious as to how you came up with 50/50. My ex husband and I made different amounts, but he was adamant about us paying a proportion of the bills equal to the percentage of which we earned in comparison to the one another. It was basically splitting the effort 50/50. I don't really see the point of this as we were husband and wife.

La La La... I edited out a ton of my response because it just makes me uncomfortable to share my part.

 

No...she doesn't make anywhere near what I make. We came up with 50/50 as a way to implement our spending plan. All of that money actually comes from my income though. She sometimes pays bills with her money but I don't know when and I have no idea what she does with her money otherwise. I never even think to ask about it. But I get to keep all of what I make on the weekends when I want to work them so that's fair.

 

I probably live right at my means. I pay all my bills on time, I'm not in debt, I manage to put a little back each paycheck in savings. I don't blow money on expensive junk I don't need but I do like to spend a certain percentage from each paycheck on things that make life worth living - good food, good drink, clothes (i actually thrift most of my clothes so thats a tiny budget) things to beautify the house and yard

 

i live within my means. i don't make that much money, but i don't have any debt, or expensive costs other than weed. i can't think of anything that i haven't bought because i couldn't afford it. i feel like i could buy mostly anything i want since i have a pretty good savings (i mean i can't buy a house or a brand new car, etc), but i mostly just don't buy stuff.
i honestly feel kinda rich in comparison to most people my age, or maybe i just hang out with a bunch of bums. and i could be thinking like i'm still 23 or so, but my friends would always complain about being broke. i was never broke. because i didn't spend as much money as them probably. and i'm fortunate to not have any debt.

no student loan payments.
no car payments ever.
and i have never let my credit cards build up interest.

so i just have to pay the rent each month, and add to my savings. somehow i pay the rent even though my wife makes more than me. i guess it's that provider in me. to be fair she buys all the groceries, and pays the electric and cable bills. but that doesn't add up to the rent. doesn't matter though. our money is our money and she doesn't spend it too crazy

 

Yeah I don't understand splitting bills like that either if you are married, or having separate accounts. If I can't trust a woman with my money I wouldn't want to be married to her.

As for the op, how do you define below, at or above?

I have a pretty big amount of debt and credit lines:

-Mortgage
-2 credit card balances
-Student loans
-Signature loans
-5 lines of credit (with balances) with various tool companies
-Cellphone contract (which could be sent to collections)

Plus less important recurring bills in terms of credit:

-Utilities
-Water
-Bug service
-Cable
-Health insurance
-Vet visits

Then I save some, blow some, loan some, and invest some. Not really a tight ass by any means just calculated and smart about it.

My credit score is in the high 700s because I never pay anything late that is on my credit report, and I pay certain things off at a rapid rate then re-up that line, pay others slightly ahead and keep the debt to income ratio in check. I can thank my old man for teaching me that stuff.

With that breakdown I guess I'd say at my means, although if I get hurt or otherwise out of commission I could be screwed in less than a year. So that could possibly be construed as above my means. It just depends how you look at it.

 

Probably below tbh. My little cottage isn't a very big place, it's cosy and cute which is why I'm kinda interested in buying a place when I get back home. I want a homely feeling, something bigger somewhere to hang up artifacts and statues etc.
my social life is definitely above my needs. Like I mean like I spend a lot going out.

 

As far as splitting bills...it works perfectly. It all comes out of "my" money but it's just a matter of what is left over and how it's spent. There doesn't need to be a debate about what the other one is buying. I simply don't care what she spends her leftover money on and I buy whatever I want with no discussion at all.

As far as the definition...that's a good question. I guess it might be different for different people. I assume living below your means is being able to pay all of your bills and have a decent amount to save or spend. Living above your means probably means that you know where every dollar is going and maybe you buy things you probably shouldn't buy because it puts you behind on other bills.

 

well we've only been married like a year and a half, so we just have the same bank accounts as we did from before we were married. we each have direct deposit into our respective account..so we pay some things from "my" account and some things from "hers"
works fine

 

at, i guess. i make a little more than i really need, and don't really spend a lot on stuff, but i do have student loans so any extra money i make goes toward getting ahead on paying them off.