The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: lifejoy on February 06, 2017, 11:17:34 AM

Title: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 06, 2017, 11:17:34 AM
There is some kind of a post with a calculation that shows you that if you want Netflix for life, it's going to cost you this much money and you need to not think of it as $10/mo. but rather as adding $10,000 to your FIRE number.

Something like that.

Anyone?
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 06, 2017, 12:18:44 PM
Monthly expense multiply by 173 to calculate cost over 10 years.

That works! Thanks :)
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: terran on February 06, 2017, 12:23:50 PM
Another way to look at it would just be as an extension of the 4% rule, so monthly cost x 300. If you believe in a different safe withdrawal rate then just monthly cost x 12 / withdrawal rate.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: solon on February 06, 2017, 01:16:17 PM
This is the post you're thinking of:
http://www.mrmoneymustache.com/2011/04/15/getting-started-3-eliminate-short-termitis-the-bankruptcy-disease/

I asked this exact question a while ago. Then I bookmarked the answer!
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 06, 2017, 08:56:02 PM
Yay thank you!!! I will definitely bookmark.

I guess I should've used the search function on the forum, but I've never had much luck with it :/
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: JLee on February 06, 2017, 09:07:56 PM
Another way to look at it would just be as an extension of the 4% rule, so monthly cost x 300. If you believe in a different safe withdrawal rate then just monthly cost x 12 / withdrawal rate.

Yep.  A ~$3600 stache would pay for Netflix @ $11.99 forever.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 07, 2017, 06:15:00 AM
Yay thank you!!! I will definitely bookmark.

I guess I should've used the search function on the forum, but I've never had much luck with it :/

MMM wrote a post on that too.  Don't use it.  Go into google and type:

Mr Money Mustache Forum then whatever you want to search

It works quite well IME.  Good luck!

Awesome!!
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 07, 2017, 06:15:22 AM
Another way to look at it would just be as an extension of the 4% rule, so monthly cost x 300. If you believe in a different safe withdrawal rate then just monthly cost x 12 / withdrawal rate.

Yep.  A ~$3600 stache would pay for Netflix @ $11.99 forever.

I don't like paying for Netflix. Hoopla and reading is free.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: caffeine on February 07, 2017, 08:09:49 AM
Has anyone used Crackle? I hear its free with mild use of commercials.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: 2Birds1Stone on February 07, 2017, 08:14:41 AM
Get a Fire TV Stick and unlock it. Watch everything including live sports and local channels for free.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: Prodigal Daughter on February 07, 2017, 09:10:42 AM
Get a Fire TV Stick and unlock it. Watch everything including live sports and local channels for free.

Uh, what? Unlock how? Tell me more!!!! I use an over the air antenna but my house sits lower on a hill and also has some 4+ story buildings around it, which restricts my access to some extra channels. We have a Fire Stick so I'd like to see what else it can offer.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: swick on February 07, 2017, 09:33:41 AM
Good Example of this:

I thought I was doing good by not buying coffee out and making my fancy-pants lattes at home saving:

Coffee out monthly 110.00 would need an extra $33,000 in my stache (this is the Latte factor, folks!)

But, like any good Mustachian I make my own at home, good, right? Until I realized I was spending 50.00 a month in milk, just for coffee because instead of one coffee a day out, I'd drink several, it's cheaper! I'd need to add $15,000 to my stache to cover it.

Now, I've gotten used to drinking it black, and don't have all the health issues I get with Dairy, and for a mere 15.00 a month, I only need to add 4,500. Is coffee worth that? Or would it be better to remove it completely and eliminate the expense? That remains to be seen.

The power of this concept is when you start to examine ALL your little choices, how much they add up to together, this is how you literally shave YEARS of your FIRE date. But, you still want to enjoy that time, so what trade-offs are worth it for you?
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: JLee on February 07, 2017, 09:35:16 AM
Good Example of this:

I thought I was doing good by not buying coffee out and making my fancy-pants lattes at home saving:

Coffee out monthly 110.00 would need an extra $33,000 in my stache (this is the Latte factor, folks!)

But, like any good Mustachian I make my own at home, good, right? Until I realized I was spending 50.00 a month in milk, just for coffee because instead of one coffee a day out, I'd drink several, it's cheaper! I'd need to add $15,000 to my stache to cover it.

Now, I've gotten used to drinking it black, and don't have all the health issues I get with Dairy, and for a mere 15.00 a month, I only need to add 4,500. Is coffee worth that? Or would it be better to remove it completely and eliminate the expense? That remains to be seen.

The power of this concept is when you start to examine ALL your little choices, how much they add up to together, this is how you literally shave YEARS of your FIRE date. But, you still want to enjoy that time, so what trade-offs are worth it for you?

You went through a half gallon of milk a day?  Or is milk really expensive where you live?
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: 2Birds1Stone on February 07, 2017, 09:37:15 AM
Get a Fire TV Stick and unlock it. Watch everything including live sports and local channels for free.

Uh, what? Unlock how? Tell me more!!!! I use an over the air antenna but my house sits lower on a hill and also has some 4+ story buildings around it, which restricts my access to some extra channels. We have a Fire Stick so I'd like to see what else it can offer.

Check youtube. Takes ~10 minutes and you will have access to movies/tvshows/premium netflix/hulu/amazon prime content.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: swick on February 07, 2017, 09:46:06 AM

You went through a half gallon of milk a day?  Or is milk really expensive where you live?

4L = 1.06 Gallons.  I was living in Northern BC at the time, so $7-8 a jug. And then the issue that milk went fairly quickly as it had been frozen/thawed several times on the way up and tended to spoil quick if we didn't drink it.
Title: Re: Where is that MMM post about spending $10/mo. on netflix NOW will cost you $$$?
Post by: lifejoy on February 07, 2017, 06:28:49 PM
Check out if your library has hoopla. It works just like Netflix except it's free and you're limited to about 5 downloads a month. The bonus is that you're forced to spend less time watching tv :)