What do the young ones do with their money? - Page 2

runner4life7 · #11 07-10-2005, 04:00 AM

I'm a 20 year old college student in madison, wisconsin. I dont have a gambling problem, I have a spending problem. If i see something I want I buy it. I spend a fair amount on clothes just built a new computer with 2 20.1" LCDs. Now im in the process of saving for a car, takes me just a little bit longer than raptor though...ok a lot longer

PokerProdigy · #12 07-10-2005, 04:00 AM

Saving up for college expenses [img]/images/graemlins/smirk.gif[/img]

curtains · #13 07-10-2005, 04:27 AM

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Instead of making a car in 20 days, make a down payment on some property.

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well at least I'm on my way to doing something right.

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I hoard the money and never spend anything basically. I don't need anything anyway.

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I think that you're serious, but I'm not sure. Serious or not, this quote fits me perfectly [img]/images/graemlins/cool.gif[/img]. How old are you btw curtains?

I don't think that this thread needs to exclude those outside of my age group.

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Im older than you (26). I don't want to spend any signifigant money unless absolutely mandatory. The more money I have the better I play and the higher stakes I can play for. It's really a huge advantage IMO to play when the stakes mean very little to you.

DasLeben · #14 07-10-2005, 04:57 AM

I'm going to be putting some cash towards a car pretty soon. I'd love to get a used BMW (E36 M3), but realistically I'm looking at an '06 Audi A3.

Bonafone · #15 07-10-2005, 05:42 AM

As a 17 year old that pays for nothing besides gas and fast food, I've made the decision to invest as much as I can so I can retire at 30. I did spend about $13k on a 97 bmw, but haven't taken more than $2 or $3k out for minor purchases (second monitor and other toys) in the past 5 months. My current goal is to be able to go through life without ever having to work a real job. Things are going nicely so far.

BonafoneX aka ThugAngelX

Mr_J · #16 07-10-2005, 05:46 AM

you're 18-21?? Had you being about 30.

Mr_J · #17 07-10-2005, 06:08 AM

Well I'm 22, but all my money has gone to rent, going out and food. As soon as I start my next lot of sngs I'm working or my retirement fund though. 500k within 18 months.

DonButtons · #18 07-10-2005, 06:16 AM

I actually invest 18k out of my BR in like march, and Im about to get around $210k in return, soooo shipppppppp ittttttt.

I feel goot b/c when I was 18 (18 at the time, 19 now), I didnt spend in all on pai gow and black jack and can buy myself a ferrari modena, so suck it raptor.

newfant · #19 07-10-2005, 06:29 AM

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I hoard the money and never spend anything basically. I don't need anything anyway

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What about poor drapes? Doesn't she need nice things?

AbelM · #20 07-10-2005, 06:29 AM

Lately i've been thinking a lot about this.

Like a lot of winning young poker players i started buying about everything i wanted from my early winnings (big tv, big screen, consoles, dvd's etc.). Last week i put a wooden floor in my room, it looks pretty pimp now [img]/images/graemlins/cool.gif[/img] Also i've been to some EPT events and some other live tournaments.

But the money just keeps coming in faster. It's quite unreal and i still really can't fathom that I basically don't have to worry one bit about money during my study time. Actually after talking to a good friend of mine (he retired at 30 and is obviously very good with money) i found out that if i play this right i might not have to worry about money for a long long time... maybe even the rest of my life.

We made some plans to put a realistic amount away every month (which can be almost all of my poker winnings, as a student i don't need that much money to still live large). After some quick calculations we found out that after about four years (that's when i finish my study) i could very well be a millionaire!

Can you imagine that? Finish college and have a million! Do i want to start my own business? Do i want to settle and buy a house? Do i want to travel the world? Do i want to lie on my ass for a year? No problem! I still can't realize that this might be realistic...

What i do realize though is that there are still a lot of ways to screw it up and it might not go the way i'm planning it now. But most of it is in my own hands, so we'll see how it goes...

I can recommend other players to also make some sort of plan to at least use your poker winnings to make your life better and easier. For some this might actually be buying a lot of cool stuff, for others it might be a saving plan to secure their financial future.
I see a lot of my pokerfriends drop out of college and make poker their goal in life. In my opinion it's much better to just use it as a tool to make my normal life better (that's why i haven't dropped out of college yet [img]/images/graemlins/cool.gif[/img])