(Closed) Do you "spend" money you haven't earned?

posted 8 years ago in Money
  • poll: Do you spend money you haven't earned?

    Never, I live on strictly cash I have earned.

    Sometimes, when it comes to bigger expenses.

    Yes, but I feel secure knowing I can pay it off.

    Yes, but I don't have a certain plan on when to pay it off.

    Other - let me know!

  • Post # 3
    3967 posts
    Honey bee
    • Wedding: September 2014

    @foreverthine:  nope! whatever goes out can’t be more than what comes in this month! 

    Post # 4
    445 posts
    Helper bee
    • Wedding: September 2013

    @foreverthine:  I definitely plan on money coming in, but I don’t finalize or book things unless money is in hand. Personally it is becuase I have had shitty things come up and the money that was allocuted for xyz now has to go into the car or medical crap. I do technically have an emergency fund, but I don’t touch that unless there is no money in my monthly budget that can be shifted.

    Post # 5
    1133 posts
    Bumble bee
    • Wedding: October 2013

    My fiance has us on a budget that we try to stick to as much as possible. Altho, our wedding purchases are going on the credit card( and we will be paying it off for awhile ;(  )

    Post # 6
    5866 posts
    Bee Keeper
    • Wedding: April 2013

    Yes, I always plan ahead an save for big expesnse that cant’ be covered by my normal cash flow.  For example, although I’ve never had a car payment, I alwasy PRETEND to have a car payment and put that money into a savings account labeled “new car.”  I do this even if I have a brand new car and don’t plan to buy another for 10 years.  

    Post # 7
    4519 posts
    Honey bee
    • Wedding: April 2015

    I may earmark money to be earned for something I want or need, but I’m trying hard to wait to purchase until the money is in my account. it’s one thing to say, “I could use some new work clothes when the next check comes in” and another to say, “I don’t have money, but I’ll but some clothes now and pay for them after the next check”

    Post # 8
    11734 posts
    Sugar Beekeeper
    • Wedding: November 1999

    No!!!  I plan for things based on money coming in, but I don’t ever buy anything before the money is in my bank account. You never know what could happen – you could be let go tomorrow for no reason with no severance pay.


    I also don’t put anything on a credit card unless I have the money to pay for it up front.  I love utilizing credit with 0% interest rates to slowly pay something off instead of having a huge chunk of money leaving at once (like to make my money work for me and earn interest for as long as possible when I can), but I’d never ever ever purchase something on credit if I couldn’t pay it off tomorrow.

    I’m not in debt (except for student loans) and have a healthy amount of savings and still live a very nice lifestyle.  So, apparently I’m doing something right!

    Post # 9
    2211 posts
    Buzzing bee
    • Wedding: May 2014

    I save into a special account for larger purchases I might need to make (car and home repairs, new furniture or fun electronics), but I make sure I have money in that account before I spend it.  Once I get to a certain threshold, I allow myself to make a “fun” purchase, but otherwise keep saving in case I have an unexpected necessary expense.

    So no, I don’t spend money I haven’t yet earned, and I never put more on my credit card than I can pay off every month.  That’s just setting yourself up for failure.

    Post # 10
    15531 posts
    Honey Beekeeper
    • Wedding: June 2011

    Nope.  I’ve never wanted to have to count on future earnings and worry about finances. We’re at a good point and have enough saved now that we don’t have to count on future savnigs for anything. 


    Post # 11
    9679 posts
    Buzzing Beekeeper

    I don’t base decisions on money I don’t have yet.

    Post # 13
    10354 posts
    Sugar Beekeeper
    • Wedding: September 2010

    Yes. We booked a vacation for January that we planned to pay for with future savings. The deposit was paid with current money, and the final payment will be paid with money on hard by that time.

    Post # 14
    8031 posts
    Bumble Beekeeper
    • Wedding: October 2010

    We say “When we get our tax return we will buy XYZ”  But we don’t buy it until the money comes in.

    Post # 15
    3172 posts
    Sugar bee

    I’m guilty! DH and I put our trip to Costa Rica on our 0% interest credit card. If anything happens, we have the money to pay for it now. We’ll have it paid off before the trip and before the interest kicks in. We live way below our means otherwise.

    Post # 16
    10354 posts
    Sugar Beekeeper
    • Wedding: September 2010

    I should also add that we save a LOT per month ($5k+) so we could pull from savings if needed. But we plan ahead like we won’t need to do that.

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