Anyone else doing "all the right things" and seeming to go nowhere, and really bored with their life?

Question

I am a very conservative spender and good at budgeting or personal financial planning. I used to be dirt poor and now I make a much better income...$32K/yr on the books(and an extra $10K/yr in bartending tips that I want to report on my tax return to show a bigger income). This income is much better than the $5K/yr I was making a few yrs ago, but it's still less than what a straight-A college grad like myself should be earning several yrs out of college. I'm constantly having to budget creatively.

I have tiny bills and humble living expenses. I still take mass transit to work(even at the dangerous hour of 3am coming home from my bartending job!), even though it takes 2-3X longer than driving, just to save money. I put so much money into paying off debt(car loan) early that I rarely go out and have fun. I've stayed home on sat nights to save money. Oh and I don't have kids even though I really want to.

As a result, I feel like I have no fun. I have a friend in the same situation

Answer 1

Congratulations on having no debt and living below your means!

  Now that you are doing all the right things, how much per year are you saving? 15%, 20%, 25% of your income?  

1. Do you have an emergency fund of 3-6 months income?  If not, start one.  If you do, put it into a risk free CD like Bank of America has so that you can get at the money if you need it.

2. Do you have a Roth IRA?  If not, open one so that your future is taken care of.  If you make the maximum contribution each year, you will be a millionaire in 30 years.

3. Since have a budget, have you put in an expense for fun?  If you haven't, you should.  Now that your debt has been paid off, it is time to reward yourself.

4.  Try to stop living "dirt poor".  It was necessary for awhile but it is not necessary anymore.  Once you have an emergency fund and a Roth for retirement it will help you to relax about your money and stop living in the fear of being poor again.

5. Find thing to do,  places to go, and people to be with that make you happy.  It is time to live your life and not let it pass you by.  Stop taking mass transit at 3am!  You are worth the cost of the gas!

If you do these things, you will find comfort in your excellent financial situation and you will find your happiness by getting out and doing.  If there aren't people you want to spend time with, find a place to volunteer,  take a class, flirt with the customers where you are bartending.  It's time now.