Anyone out there cut their cable cord?

[Grey Fox]

Oh, the life of the rich.

[Malthus]

Oh, the life of the rich.

I used the same method when I had very little money. I always had savings, even if only a small amount.

[derspiess]

Timmy can watch the same episode of whatever, be it Team Umi-Zoomi, Barney, Caillou, or whatever, multiple times and not care in the least.

I know Lola has hit her limit on watching the same episode of whatever show when she throws the remote at me.

[Admiral Yi]

Latinas. 

[derspiess]

Latinas. 

Yeah.  She's a redhead on top of that

[Grey Fox]

Oh, the life of the rich.

I used the same method when I had very little money. I always had savings, even if only a small amount.

Oh the life of the frugal.

[Ed Anger]

Latinas. 

Yeah.  She's a redhead on top of that

I'll pray for you.

[lustindarkness]

Latinas. 

Yeah.  She's a redhead on top of that

[crazy canuck]

Oh, the life of the rich.

I used the same method when I had very little money. I always had savings, even if only a small amount.

Yeah, ironically we used to save a much larger percentage of our incomes when we made much less.  We still save a lot each year but if we had anything close to the kind of discipline we once did.... then our kids would have less fun   Beware the teen years!

[derspiess]

Latinas. 

Yeah.  She's a redhead on top of that

I'll pray for you.

She put her head on my shoulder last night & told me I was her best friend 

Pretty sure that was just to get my attention because I was reading a news article and <gasp> not paying 100% attention to her.

[Valmy]

I used the same method when I had very little money. I always had savings, even if only a small amount.

You always had savings?  You never had one savings-draining emergency?  You lucky fuck.  I just had to blow most of mine on a new water heater.  Damnit.  Hope everything holds together while I replenish my funds.

[Malthus]

I used the same method when I had very little money. I always had savings, even if only a small amount.

You always had savings?  You never had one savings-draining emergency?  You lucky fuck.  I just had to blow most of mine on a new water heater.  Damnit.  Hope everything holds together while I replenish my funds.

Yeah, I had a couple of occasions when I had to use up my savings on something or other pressing, though mostly self-inflicted (my foray into entreprenureal business.  ). But as soon as I drained it dry, I always started to build it up again. I was always, when possible, putting something of what I earned away, even if only a little bit.

The contrast is with some of my friends, many of whom literally lived paycheque to paycheque - it didn't matter how much they earned, they spent it. They still do that. One of my buddies is also a lawyer, and he has two luxury cars and a very nicely furished house, and two small kids, with a great nanny, they take fancy vacations - yet I know he makes less than I do. My wife was all like 'how do they do it!?' Sadly, he'd told me the answer earlier, in some fear - they were up to their ass in debt to pay for all these nice things and had no savings at all - not a penny. A massive mortgage on the house and the cars are leased, plus a big line of credit to pay for renos and furniture, *and* credit card debt on top. If he lost his job for a month, they would be royally fucked; and as for retirement, forget it.

It's actually not that uncommon a story, according to the news.

[The Brain]

I autosave at least $1,000 every month. Plus ordinary buildup that gets transferred to savings when overload threatens.

[viper37]

Tax free savings account, TSFA.  5000 (now 5500$) per year max though.  Revenus grow with no taxes on them.

That sounds like your IRA equivalent.  A money market account has no special tax treatment.  It's a hybrid checking/savings account.

oh, that.  Well, we have that, but interest rate on this is close to 0%, 0,1% if you're lucky:
http://www.desjardins.com/particuliers/comptes-services-relies/comptes-cheques/rendement-croissant/index.jsp

[viper37]

What are the withdrawal rules on a TFSA? People use money market accounts or regular savings account because they are ultra-liquid. IRAs are easy to put money into, but you can't pull it out without paying a 10% penalty unless you're over the age of 59.5.

IIRC, there's a time limit.  If you have the right to put, say 25k$ max in a TFSA this year, if you remove momey and put it back right afterward, it will count double.  Meaning, you take out 5000$ and you put back 5000$ a month later, if your previous balance was 25 000$, you are over your limit by 5000$ and there are penalties to pay.  If I'm not mistaken, you have to wait a minimum of 30 days before you refund and the next fiscal year to not go beyond your maximum.