Getting your finances under control is a key ingredient in becoming a better man. Here are a couple of things that have helped me tremendously.

MetacognitiveMan · 2014-04-23T15:09:56+00:00

This is a good topic.

Bachelors have it easier with respect to finances because they are the only ones spending their money.

Being married with kids is a whole other story. I have a few points about this:

Smart men control the family finances. Giving up control to your wife is asking for trouble. At least keep money separate and pay equally or proportionally to family expenses.
With a wife who refuses to follow any structure to spending, I've found it useful to have her use her own checking account. It is not to control her but to help me control the overall spending.
In my main checking account, my bank lets me project expenses right in the account. This helps me see when choke points may occur.
I am lucky that I married a wife with earnings potential and it panned out. With her bonuses, she is making more money than I am right now. Combined income is really helpful when both are pulling in professional salaries. Sometimes it can actually cost more for a wife with no marketable skills to work. Avoid doing that.

Mint and apps like it never really made a difference to me.

Meglomaniac · 2014-04-23T14:38:52+00:00

Having stable and secure finances takes a lot of weight and stress off your shoulders and allows you to focus on more important things.

Its a big deal when you can just write a check for rent and go about your business. Feel like eating? Go and eat. Want a new tv? Go and get a tv.

Cyralea · 2014-04-23T14:25:42+00:00

Having money makes life go on easy mode the same way that being a young hottie with great tits does. If you're good at making money, people respect you. If you're generous with your money, people admire you, and look up to you. If you are capable of displaying that wealth, women desire you.

Learning sexual dynamics is still very important, otherwise you're some post-wall carousel rider's lifetime meal ticket. But wealth really does buy happiness if you know how to apply it.

Every dollar unspent is a point added to your status. Consider that before you buy something frivolous.

speakeasy2d · 2014-04-23T16:16:17+00:00

/r/personalfinance is a GREAT sub, but beware of the general consensus there that you should help pay off your wife's student loan for her, save up money for an expensive ring, etc.

then you bring up the opposite viewpoint and everyone loses their mind

jack3d-- · 2014-04-23T14:48:32+00:00

I've been reading the book "The Richest Man in Babylon." Good shit for anyone looking for long term investing, and other shit.

Cosmicandy · 2014-04-23T14:54:02+00:00

This app sounds pretty great, would save me a lot of tedious math I do manually.

For anyone struggling, I recommend the book Bachelor Pad Economics by Aaron Clarey. Had everything I needed to get my shit together.

2014-04-23T15:20:51+00:00

Mad props for some easily applicable suggestions that directly enhance overall wellbeing and smv. Being confident with your money is one of those things that, like being dressed well or lifting, addresses the root rather than the symptom of lack of confidence, not getting laid, etc. that pua attempts to correct on a surface level. Don't fake it- make it.

rubronegro · 2014-04-23T16:21:33+00:00

I had Mint installed, haha. I deleted it after it sent me a msg that I spent too much money on alcohol that week. The autobudget only allotted $16 per week for that! I can't get drunk for $16!

deepthrill · 2014-04-23T16:27:52+00:00

Mint for budgeting.

Bogleheads for investing.

That's it.

vpwnz · 2014-04-23T16:04:20+00:00

If your mind resists installing mint, confront fears that you may have about debts and shit like that.

It's a great app but it's easy to be like "Nah, I don't need that shit" for all the wrong reasons.

ecky--ptang-zooboing · 2014-04-23T15:20:50+00:00

Can Mint be used for European bank accounts?

biffsocko · 2014-04-23T17:13:06+00:00

A lot of great tips in here. I've been a mint user for a few years - it's a great app.

My contribution is this - I have two checking accounts - One where I pay my bills from and my checks get deposited into, the other one is linked to my debit card. This second account is my spending money. I move money to my debit account in increments of $300 - It always makes me think of how much I'm spending because I have to wonder how much is left on the card before transfering more money into it. Additionally - it keeps me from blowing massive amounts of money when I get drunk.

opgrop · 2014-04-23T15:11:05+00:00

I use something called YNAB. It's $50 and you have to manually enter transactions, but it's great. You can do everything from your phone. Forces you to think about and enter every dollar you spend.

woodyb23 · 2014-04-23T15:27:45+00:00

Ynab > mint

FritzusMaximus · 2014-04-23T19:04:16+00:00

Mint is an ok program. Been using for a few years now. The best feature is that it is accessible online. However it will not solve your financial problems or educate you. For this I highly recommend Personal Finance For Dummies. It helps educate you and helps you get on a lifelong path to financial stability. Mint is just a tool to help you keep track. Dave Ramseys Total Money Makeover is good too but a little extreme. I have to tell you the greatest thing about being debt free and having money in the bank for short and long term goals is OPTIONS. Money ultimately is the ability to have options and freedoms that the financial underprepared just do not have. From a red pill stand point its a tough sell. The debt free man with a 100k in the bank driving a paid off modest used car on the surface appears much less desirable than the guy in debt up to his eye balls who is devoting 40% of his income to drive a C Class Mecedes. Financial organization deserves as much attention as the gym or any other form of self improvement.

jonesbusiness · 2014-04-23T19:46:38+00:00

I used to work for several banks and let me tell you. The easiest thing you can do to get your finances under control is to burn your credit cards and limit your bank accounts to 2. Contrary to what everyone thinks the banks have picked up on those money management tools and they're edging their piece away from you through fees. In fact, some of those companies are in bed with the banks themselves. No matter what tools you use, it does no good if you don't have discipline. Cut the cards, keep one bank account and save your money.

smokeybehr · 2014-04-23T19:45:35+00:00

I'll recommend a couple of books:

Total Money Makeover by Dave Ramsey

Rich Dad, Poor Dad by Robert Kiyosaki (sp?)

dvrzero · 2014-04-23T18:25:01+00:00

Yeah man. As a non-elite the chances of some free app fixing or even helping with your finances is laughable.

Two things to stable money. No lines of credit. Own your house and own your car (if you need one.)

And two: I haven't figured it out yet.

I'm 33 and have never had any debt. Making more money is my current issue, but good luck finding good advice on investing or becoming self reliant. I hate business with a passion. The actual mechanisms and legalities and paperwork. It is all bullshit that large companies have entire departments working on; yet I am supposed to be an expert in that as well as whatever my actual forte is.

And money isn't freedom, it is an illusion of freedom. Anything that can be taken away at a moment's notice isn't freedom.

Edit: ITT: everyone makes less than $100,000.

Tbartley · 2014-04-23T21:47:04+00:00

In addition to Mint.com, look into Check.me, creditkarma.com (provides free Transunion score), Credit.com and creditsesame.com (both provide free Experian scores) All great free resources, and have helped me tremendously.

Also, just started looking into kasasa free checking accounts, will provide 2.5% interest on checking accounts, usually upto 15K, as long as you do a minimum of 10 or 12 debit transactions a month and login online once (things I was doing already).

barton-street · 2014-04-23T21:51:49+00:00

Mint may cause you to breach your bank's terms of service as your password is given to a third party.

This may invalidate any fraud protection you may have with your bank. Check your ToS first just to be safe.

2014-04-23T23:43:32+00:00

For any Aussies out there, Pocket Book is a great option for Australians given that Mint is for US/Canada only.

https://getpocketbook.com

DGer · 2014-04-24T03:26:11+00:00

Use cash more often. The money you're spending seems less tangible when you're swiping.

otiswild · 2014-04-24T03:47:58+00:00

Being in deep credit card debt for ~5 years was friggin horrible, but getting out felt like after a massive piss * 1000: ultimate relief!

I'd say get the best no-fee rewards card(s) you can, use them for everything, pay them off in full like clockwork each month, and claw some cash back. It's baked into the cost of almost everything these days, so unless you get a superior cash discount it's better to get the cashback.

TeasingPenguin · 2014-04-24T07:49:58+00:00

Any UK alternative?

Gstreetshit · 2014-04-24T10:43:09+00:00

I guess I need to research this mint app more, I don't like the idea of a third-party knowing all of my purchases. I'm a bit of a paranoid person, rightfully so my opinion

mytrpacc · 2014-04-24T12:59:12+00:00

I use /r/Frugal. It has given me enough money to be able to do different fun things with plates that I wouldn't be able to do otherwise. When I get to college, it will be especially useful.

baroja · 2014-04-23T20:04:15+00:00

Yea, this, and get yourself a financial adviser. Start putting as much money as you can into mutual fund/bonds/etc. They have a much better idea of where to put it than I do. I started 4 years ago and last year my account made me $25k on top of what I put in. It sucks cock when you start, but you get used to it fast and don't miss the money. It starts out as a little pile of money, but grows exponentially.

And they may try and get you into "managed" funds, but those rarely outperform standard funds.

2014-04-23T22:06:34+00:00

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2014-04-24T02:56:31+00:00

Money however will do very little to attract women... especially the younger and prettier ones.

I am perhaps in better financial shape for my age than anyone I have met. Despite moving out when I was 19 and no financial help from my parents (ever), at 26 I have 0 debt/loans and have enough saved up to live off it comfortably for a few years. And that's before my salary jumps up considerably like it is expected to in my profession. I don't even constrict my spending anymore.... live in a huge condo, own car + motorcycle, constantly eat out at fancy restaurants.

However such blessed financial situation has done NOTHING to improve my chances with women.

michael98118 · 2014-04-23T16:51:33+00:00

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Bucky_Goldstein · 2014-04-23T18:51:25+00:00

I recently finalized a year long plan to get my finances under control, and have gotten a really nice portion of money back

All my financial woes started after I broke up with my girlfriend I had bought a house with. bad idea, lesson learned. I had to pay her out a big chunk of money and had to take out a 2nd mortgage. Then lost my job for 2 months, a year later depleting my savings account to zero.

my credit card bill skyrocketed, a bike payment was getting annoying, and the utilities were getting high

Last year I renewed my mortgage for a single year, paid off the house for an entire year, building up the equity plan my bank has set up with my mortgage

I cancelled my satellite subscription, $134 a month saved, I'm way happier having the $134 in my pocket at the end of the month.

Recently went into the bank and borrowed some money on my line of credit, paid off the entire credit card bill, balance = $0. That figure made me happy, less stress of having to figure out how much to pay on the credit card bill at the end of the month, or putting whatever is left on the credit card at the end of the month, leaving me broke for a week. Fuck that, get out of credit card debt by whatever means you can, short of robbing a bank or family member.

Paid off the remainder of my motorcycle loan with the rest of the line of credit.

$134 Satellite bill - Gone $250-$350 a month credit card bill @ 10% interest - gone $325 Motorcycle payment @7% - Gone

I have roughly about $750 extra in my bank account at the end of the month.

Now the real beauty of the plan comes into play when I renewed my mortgage for a year, I'm able to renew 6 months early. The end of April is my earliest renewal date.

I've combined all of it into my line of credit @ 4% interest rate, when I renew my mortgage at the end of April, I'll roll my line of credit back into my mortgage which is at 3% and I will probably only pay one interest payment on the line of credit for this one month.

Having an additional $750 in my pocket at the end of the month has literally changed how I feel about everything and reduced the amount of stress in my life dramatically.

The only debt I have in my life right now is my mortgage, all my vehicles are paid for, everything else I own is paid for. Its a good feeling not to owe anyone anything, and I'm smiling as I type this.

2014-04-23T17:04:34+00:00

I recommend Ynab (you need a budget). Its better IMO.

RPthrowaway123 · 2014-04-23T16:52:05+00:00

Mint user here. Its awesome!

Title	Getting your finances under control is a key ingredient in becoming a better man. Here are a couple of things that have helped me tremendously.
Author	The_BitterTruth
Upvotes	163
Comments	178
Date	April 23, 2014 1:59 PM UTC (9 years ago)
Subreddit	Posted in /r/TheRedPill
Original Link	https://old.reddit.com/r/TheRedPill/comments/23rmzn/getting_your_finances_under_control_is_a_key/
Archive Link	https://theredarchive.com/r/TheRedPill/getting-your-finances-under-control-is-a-key.14481 https://theredarchive.com/post/14481