Scrapping & Saving - Page 2

Originally Posted by lousypirate

There is no such thing as forgiveness for becoming an engineer.

You never know until you look. You will be surprise what's out there.

Originally Posted by TheKid

I'm saving all about 85% of the money I earn for college right now becuase I have no other major expenses

Sounds like a good plan, but do your research, college is not all that it's hyped up to be. Check out how many college graduate are waiting tables or bagging groceries to get by. Also look at how many students graduate compare to how many started. College is good and sound good, but knowing what I know now, I would have left college after I completed my bachelors degree.

Originally Posted by Steeltree

I saved up everything from scrapping for two years. I called it my Hawaii money. Then we built a new house. Hawaii became just a dream......again.

Smart man. Plus, everything in Hawaii is so darn expensive anyway.

Originally Posted by TheRecycler

Sounds like a good plan, but do your research, college is not all that it's hyped up to be. Check out how many college graduate are waiting tables or bagging groceries to get by. Also look at how many students graduate compare to how many started. College is good and sound good, but knowing what I know now, I would have left college after I completed my bachelors degree.

Agreed. I'd have looked into learning a trade. My Masters degree let me earn good money but it's outdated. Learn a trade and you'll always be able to earn a living.

I started pouring $ into a 401K in my 20's.. in 2008.. it became a 201K with the market crash. How timely this came up as I am now working with a money manager to get all of my funds to be managed by him. I've done far better for myself- saving.. than the 401k/IRA route.. but this guy will work the IRA side and I'll continue to do what I do myself as well.

My wife and I are both 37. I paid off both our college loans, we both drive vehicles with no payments, and the only debt we have and have had is our mortgage- which we just refinanced this past year to a 15 year. My house will be paid in full by age 51- that is if I don't add any additional principle here and there.

I live a pretty boring life by most people's account. But everything I have- I worked for it, saved for it, bought smart and followed the rules. We don't drive BMW's, or live in a quarter million dollar house- but what we do have, we own and are proud of that fact.

So any younger folks out there who are listening- it can be done, it takes sacrifice- it takes not buying a $50,000 truck when you can buy that same truck used a few years later and save over half. It means brown-bagging your lunch instead of eating out every day, it means- not getting your first house and letting the BANK "tell you what you can afford" It means not going out and putting $20,000 worth of furniture on a credit line for that new house you just bought. And last but not least, and this probably doesn't apply on this forum because we deal with people's discards, but don't ever EVER be afraid to take a job or part-time job that you would ever feel is "beneath you" If you want to stay ahead- check your pride at the door in this game of life.

With a Bachelor's degree I have done the following- because I or my family needed it:
Sold Car Stereo's at Circuit City
Washed BMW's
Parked Cars at Avis Rent-A-Car
Cleaned office buildings
DJ'd at a club
Worked more than I can count Factory Jobs
Stocked Shelves on the night shift at a Grocery Store
Processed Microfiche

All of them suc*ed.. but I've always been ahead, and never ever plan to be behind!

At 55 I see the error of my past . I was too carefree still I just wont give up !!
I save silver and try to keep up with my inventory . But I think starting with 10% cash off the top even now will
be better then nothing ,Some times I think I will work till I can't and that friends wont be a happy time .
For now I sure know how to scrap and I am doing well with my new job .

Sledge, you are my hero. My wake up call didn't come to me until I was halfway done with my doctorate and I just got up one day I said f&$k it. Why am I killing myself for a degree that will take a lifetime to payoff, literally. Today, I'm so happy living a simple and relaxed life with that which matters most, my family. (Beautiful babe of a wife and our awesome gamer son)

I went the route Mick tried to pound into his kids, thank you high school economics teacher... Thank you.
EE Bonds, roth Ira, PM's,land,guns and a little in the market.
weird when you buy a bond now how you don't actually get a physical piece of paper ?
House debt is double payments every month it is possible.. Thank you high school economics teacher again!

Need capital to win at Capitalism!

TheRecycler: Well thanks for that. I toyed with the idea of getting my masters.. I was so burned out of school after my Bachelor's I never went back.. And I'm glad I didn't! I don't even use my Bachelor's in Marketing anymore except that it trained me to have a good business mind.. and I make slick ads, cards or door hangers to find scrap cars (HA!)

I left the Corporate world in 2010- FOR GOOD. I loved my field.. but I disliked the people IN it. I worked for people who would accept nothing less than me lying, cheating and stealing- FOR THEM- To make a buck. When I refused.. I was promptly shown the door- on more than one occasion. Now I work for ME, and I have strived for that for a long time. I made a huge leap from Marketing to General Contracting.. I'm not arrogant- but I'm good at what I do. I realized when a neighbors roof project literally took over a year and a half for the contractor to show up and finish his work, and my own calling of guys who never called back or showed when they said they would- I thought "HA if I am honest, prompt, and show up- I'm ahead of 90% of the guys in this field" And I was right!

I "hung my shingle" in 2010 and have not had a days rest in 4 years. Currently, my standing contract is with a duplex community with 185 units. About 5 months ago I was tapped by the owner to gut and re-do the warehouse and adjacent apartment, as well as renovate the existing office space.. so that is my gig at the moment. Because I am a 10-99 guy, I am FORCED to siphon off 20-25% of my invoice payments and put it in the bank.. when the tax man comes a knockin.. I always have the money there- some years that tax man wants more, sometimes less, but every year I always have more set back, than he has cometh for.. so it just gets used for retirement and a good amount of cash-flow available in case I need tools or supplies for the business!

Originally Posted by mikeinreco

I try to set goals fro myself for instance 100lbs of wire per week or 200lbs of ewaste per week........That way I get a steady paycheck like a regular job

Mike, I don't know if it's the law of average, but I'm blessed to turn it a full load every week and that's been steady. The way I go about things is to live below my mean so I don't have any stress or pressure of having to make any specific amount money. Whatever I make is always enough.

Originally Posted by TheRecycler

Mike, I don't know if it's the law of average, but I'm blessed to turn it a full load every week and that's been steady. The way I go about things is to live below my mean so I don't have any stress or pressure of having to make any specific amount money. Whatever I make is always enough.

yea I buy most of my scrap then process it so I normally have tons of stuff to work on...........That being said whatever I break down that week is how much I turn in...........

Originally Posted by mikeinreco

yea I buy most of my scrap then process it so I normally have tons of stuff to work on...........That being said whatever I break down that week is how much I turn in...........

I got in this business to enjoy a relax my time with my family. I scrap as easy as Sunday morning, and better yet, it's all free.

Originally Posted by TheRecycler

I got in this business to enjoy a relax my time with my family. I scrap as easy as Sunday morning, and better yet, it's all free.

Everyone does it there own way..........I work on a % off the top of what I spend...........I don't take it as lightly probably as you do as I am in biz to make money..........Sounds like your way works for you!!!!!!!!!!!!