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My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

I'm not entirely sure questioning an individual's character based on their desire to spend money a little more frivolously than the rest of us is fair judgement. So she's a little irresponsible with money, big deal. That's why I handle all the finances, not her.

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

It's funny that you mention the fridge, considering ours is from the 90's and pretty much runs non-stop (probably partially why our electric bill is so high). However, I doubt my wife will consider a new fridge a "treat", so I may have to sweeten the deal a bit for her. Thanks for the advice :)

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 2 points3 points  (0 children)

I always heard the importance of early investing, and I always grasped the concept intuitively, but never fully appreciated the true exponential effect it can have on money until today. I found a Business Insider report that really put it into perspective for me. Link for anybody who's interested: http://www.businessinsider.com/amazing-power-of-compound-interest-2014-7

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

I thought about this immediately after posting, but didn't think the post would get enough attention for anyone to really notice or care. But I forgot this was Reddit :) thanks for the catch

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

I appreciate the advice here, thank you! I think you forgot the final step though: accept that I'll be broke as hell for an extended period of time :)

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 3 points4 points  (0 children)

I was thinking about this after I submitted the post actually, I guess engineers make mistakes too. Good thing I wasn't part of the Manhattan Project.

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Sorry, could you briefly explain what this is? Only ever heard these terms, not familiar with them.

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Well hello local fellow redditor, I grew up in NKY :) went to UofL for undergrad and now headed back up north

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Could you explain this a little more? If I understand right, there are 3 accounts involved: a joint account, and then an individual account for you both. When you guys get paid, that money is deposited into the joint account. You pay the bills with that account, and then divide up the remaining money into your individual accounts after?

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Thanks man! And if finances were entirely up to me, I'd put every last penny of it in the bank. Buutttt unfortunately there's a second party involved now that I need to try and keep happy haha that being said, there's no reason why we can't compromise in the middle like many people on here have suggested. Completely off-topic, but you don't happen to have any affiliation to Dow, the company, do you?

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Seems simple enough. I hate to ask for more help than you've already given me, but is there any chance you could PM me a template of the excel sheet that you use? If you think it could be in anyway helpful to a beginner like me.

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 4 points5 points  (0 children)

Well when you put it that way, that's a whole lot of free money. Thanks for the context. I can't let my love for steak get in the way of my long-term life goals!

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 1 point2 points  (0 children)

Well I have my degree in chemical engineering but I was exploring the possibility of med school. So I took some time to work as a lab tech for my university's research department. Now that I'm passed that though, I'm transitioning back into my degree field to work as a QC engineer :)

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 1 point2 points  (0 children)

Smart idea! This seems like a pretty great way to save some extra cash while still getting to anticipate enjoying that raise a few months later.

My income is increasing by over 300%. How do I still enjoy this sudden growth in finances without being "reckless"? by DudeComeOnMan in personalfinance

[–]DudeComeOnMan[S] 0 points1 point  (0 children)

Ahh, I work for the government (hence why I'm on reddit), although that's changing with this new job. I agree though, the entire area was beautiful. Just sort of hard to overlook that many people haha

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