Post: #1

One thing I am noticing a lot lately is people who have money and could be living a nice lifestyle, but still live like they are poor. I think being frugal with your money is never a bad idea, but on the flip side I am also a believer that one should "treat themselves, not cheat themselves."

If you have money, but still shop at the discount grocery outlet where you get shitty food on the verge of expiring, you drive an old beater car that's a P.O.S., never go on vacation or travel, or wear old unstylish clothes, I think you are missing out a lot on life.

I have two friends that have done well for themselves over the past year, but if you ask them to go out and eat a nice restaurant they will scoff. One of my buddies, bought an old beater 95' Ford F-150 with almost 200,000 miles, while I was trying to convince him to drop a bunch more, (he has the money), and get a 2006-2010 with under 100,000. Well, he claims he doesn't need anything fancy, and bought the old beater for $3,000. A month later the beater blew the head gasket and my buddy had to drop $5,000 to get a new engine, since then he has dropped at least another couple grand on it. Overall, the amount he dumped into that old truck is how much he could've bought a newer used one for.

My other buddy, has a bunch of cash stacked, but lives like he is on welfare, the guy shops at the dollar store, his idea of eating out is hitting the taco truck, his apartment is sparse (barely any furniture, no art, a tv that looks like it's from the 90's). Meanwhile he could easily afford to give himself nice things that would vastly improve his lifestyle.

The point of this post, is having money is one thing, but knowing how to spend it and enjoy it is another. I'm about 1/4 of the way through The Millionaire Fastlane, and enjoyed the 4 Hour Work Week, these books have kind of opened up my eyes on lifestyle and having money. What's the point of slaving away money to save away for when you're an old man, if you're not enjoying it now?

I do want differentiate between enjoying one's money and blowing on frivelous things. I dropped $3500 on an omega watch a few years ago when I was doing real well, now looking back, I kind of think it may have been a waste because there is other stuff I would prefer to do with that money. But, what I didn't do was drop $10,000 on the equivilent model of a Rolex. I kept my spending within my means of what I could afford, without breaking the bank. If you only have $20,000 and you spend $10,000 on a Rolex, that is idiotic, but if you have $200,000 and spend $10,000 on a Rolex, it's still a large expense, but within your budget.

Another thing is I see people I know that are making way more money than I do, my earnings are modest compared to their's, but at the end of the year we are making about the same when it comes to our time spent. A friend may make twice what I make, but if he works 50 hours a week, and I only work 20 hours, it kind of evens out, especially in the quality of lifestyle I can lead.

So I guess the idea is find a balance, between being frugal and living cheaply, with enjoying the money you do save, and live a full and rich lifestyle. If I never traveled around the world, I'd easily be $50,000 richer than I am now, but then again I wouldn't have seen and done all the cool shit I've done, I guess it's all relative.

Post: #2

Sometimes being really frugal costs you much more money as your friend found out. I have a friend like that but now he doesn't need to work. He just lives his life that way and even if you or I think it's crazy, in the end, it's his life to live the way he sees fit.

As for your examples... it really depends on what type of income that 200k is. If it is passive, then no worries on spending 10k on a watch. If not, I would say spending 10k on a watch isn't within his budget at all.

Sometimes people spend money just so they can justify what they go through in order to make it. That is as bad as being frugal if not worst. You get stuck on an endless cycle of misery.

Post: #3

http://www.roadjunky.com

I dunno man, I don't get any enjoyment off of dropping money on sh1t I don't really need. If you live the frugal lifestyle, you can meet cooler people and find the best deals in the cities you visit. Half of my adventures have been in-search of the lowest prices. I can tell you where 99% of stuff in the West comes from almost down to the exact block.

Otherwise what the hell else is there to do when you're in a huge city?!? It's also one of the best dates you'll ever go on. While I was dating my wife, she was showing me the best places to get clothing at super cheap prices. You know you can buy most shirts for 0.50 in China and even then you can haggle them down. Yeah, almost every city has a distro company that will sell you stuff out the backdoor. When new people get to Guangzhou, the first places we take them are the places where you can get insane deals on clothing. Second to that is places to get good food at reasonable rates. If you go down to Mexico, you can find awesome deals at the local tiangus and its hella fun walking around there.

A frugal lifestyle forces you to cook your own food, making you healthier in the long run. A frugal lifestyle creates budget adventures, how to navigate a 3rd world country with less than 20 bucks in your pocket and nowhere to go? Can you do it? I can. Money is only really important when you want to live by the system's rules... when you want to start making heavy contributions to society and when you want to settle down... otherwise when you are single, you can live out of a backpack and everything is still awesome. You will never meet the best quality women of the world if you are always flashing your $$$.

To put things in perspective, I lived in Puerto Vallarta, Mexico for 6 months at a shot on less than $3000 and I had a 3 bedroom apartment (behind WALMART), PS2, all the games, hot, rich girlfriend, body boarding on the beach and invites to all the block parties with the other 'poor' folk. (I didn't have to work the entire 6 months).

An expensive watch doesn't make up for hours of life lost.

Post: #4

(09-20-2014 01:40 PM)worldwidetraveler Wrote:  Sometimes being really frugal costs you much more money as your friend found out. I have a friend like that but now he doesn't need to work. He just lives his life that way and even if you or I think it's crazy, in the end, it's his life to live the way he sees fit.

As for your examples... it really depends on what type of income that 200k is. If it is passive, then no worries on spending 10k on a watch. If not, I would say spending 10k on a watch isn't within his budget at all.

Sometimes people spend money just so they can justify what they go through in order to make it. That is as bad as being frugal if not worst. You get stuck on an endless cycle of misery.

I agree the people that spend a shit ton of money to feel like they have made it, or justify their lifestyle as you put it are even worse. By no means am I advocating buying a bmw, a rolex, and $2,000 Italian shoes, this doesn't make sense for the vast majority of people, and the vast majority of people in our society and culture are living outside their means.

It's not good to be on either extreme side of the spectrum, I just read this article earlier http://www.sfgate.com/news/crime/article...768536.php
about a former NBA player caught stealing and reselling apple products. Presumably the guy like many former pro athletes (Allen Iverson, Terrell Owen), blew through the millions of dollars, without the foresight of saving money before it all ran out.

Spending in excess without planning, is worse than saving and stacking money without spending and enjoying it. My post was focusing on people that have money, but aren't using it to enrich and improve their lifestyles, as improving one's lifestyle is the aim of this forum.

Post: #5

Nice post. I guess it comes down to "Everyone values different things" and I agree with your follow-up to worldwidetraveler that lots of people seem to value "stuff" as opposed to lifestyle-building.


Personal example: I would never drop $3,000 on a vehicle, because I take the subway/bus everywhere ... but I DID recently drop $3,000 to hire a personal trainer with the goal of building muscle mass. There are a lot of guys on the forum (paging the Fitness Sub) who will think that's a waste of money ... but guess what - it's what I value right now, and I'm willing to part with that cash to have personal guidance.

**
Your friend with the truck had to learn the sometimes-cheap-gets-you-burned lesson, hopefully he'll do more due-diligence next time.

Post: #6

I see folks with mercedes benz, etc shopping at the 99 cent store.

Nice post, we all value money differently. As long as you are maximizing your utility (happiness) by your standards, do what you want. Some just like having a pile of cash.

FUCK what others think.

Post: #7

I do the opposite.

I am poor but I try to live rich. (free time, quality food, pretty girls, low stress, etc.)

It worked pretty good in my teens, 20's, and early 30s but I admit, I need to generate more income as I get older.

---

I do know some rich guys who are very cheap. That mentality is how they became rich.

Their money is their "safety net". They can't stand to part with it. It gives the a sense of security. It is their pride and joy.

Maybe they should sacrifice some of their money for the sake of fun?

Maybe I should sacrifice some fun for the sake of money?

Everyone defines their own "success" and "quality" of life.

If a man wants to keep his money, who am I to say its a bad idea? As long as he is happy.. If he admits to being unhappy, I might offer my thoughts..

----

Also, pro athletes aren't the only ones who go broke.

Average people of average incomes go broke all the time. The foreclosure crisis of recent years highlights this.

Post: #8

They just have a different mindset, and their behavior from your examples may be understandable.

Your friend couldn't know his head gasket would blow, it's mostly bad luck, newer cars aren't much more reliable. We like to believe we switch car for reliability, that in the long run it's not much more expensive, because it allows us to rationalize such an expensive purchase, but in the end the real reason is that we want a newer car. Some people just want it more than others, your friend just prefer to use his money on other things.

Same for fancy restaurants, art, TV and furniture, it just isn't as important to some people as what they could do with the money (peace of mind through cash, early retirement, whatever they like).

Honestly, newer cars, bigger TVs and more expensive watches do the same job as cheaper older ones, it's the exclusivity that people enjoy. Think about a few decades ago, don't you think your father enjoyed his tiny TV and his older model car just as much as you enjoy yours now?

This is not to say it is stupid to run after consumer goods, I'm trying to show you the mindset of your friends may not be that absurd, what matters to you just doesn't appeal to them as much.

Post: #9

This is an interesting topic to me as my girl and even my parents have been on me lately stop being so cheap. I wouldn't call myself cheap, I would consider myself frugal. Also, big difference, to highlite here since people are talking about frugal choices that wind up costing more. Cheap is buying the cheapest thing regardless of quality. You can buy a cheap car but have to dump a bunch of money into it, that is not frugal that is cheap. Frugal is getting the most bang for your buck. SOmeone who is cheap will buy the $400 beater they wind up having to put 4k into repairs a few months down the road. SOmeone who is frual will spend the 10k on a relatively low mileage Hyundai with high MPG. Fruga isn't about being cheap it's about getting bang for your buck.

I definately do understand the sentiment however of enjoying your money as like my grandpa always told me you can't take it with you when you die. THat makes me feel there's a middle ground, be smart with your money, don't waste it, safe so your comfortable and can weather emergency situations but don't be so cheap you don't enjoy anything.

I'd encourage you guys to check out the CityDataForums Frugal section and there you will see people not enjoying life to save a buck. Alot of my friends call me cheap but I take 2 vacations a year, I drive a 2011 car, have a motorcycle and a sail boat, it's just that I choose to spend my money on motorcycles, boats and travel instead of $100 a night at the bar or going to a fancy restaurant.

I have a goal to retire in the next 5 years by 35, to reach that goal I have to scrimp a bit in certain areas. To me personally retiring at 35 is going to bring me much more enjoyment than driving a Mercedes and eating at fancy restaurans and retiring when I'm 60. Up until fairly recently I was a paycheck to paycheck guy often running to the coinstar machine to last a few days unitl payday hit. My business has been doing well and now I'm bringing home about $7500 a month on top of some money I'm putting into an IRA. I have a goal to have 100K liquid in the bank so I'm continuing to live off my shitty job which pays about $1800 a month and keeping my old lifestyle iwth maybe a few splurges on travel and eating out but not much. I see so many people who allow their lifestyle to grow with their income and they are still broke, granted they drive a nicer car and have a nicer house but the are still stretching between paydays, can't take a vacation because there's no money, etc. I find no enjoyment in that lifestyle.

I'm sure many of you have read the millionaire next door, basic premis being most millionaires don't drive flashy cars and live in flashy houses, most are everyday people and they are millionaires because they do save and aren't flashy, don't buy shit they don't need, etc. They live comfortably but not over the top. For me secuirty is a huge goal, I have seen friends, family coworkers ruined by job loss, health problems, etc so having a security fund is a big priority for me and gives me peace of mind as well. I think they say you should have a year to year and a half worth of rent and bill money put away and very few people do yet many of those same people are still spurging on ohter things.

I definately agree with don't hoard all your money and not enjoy it but at the same time who am I to say someone should buy nicer stuff ifthey are happy with what they have. I dress nice and look good but am not huge into fashion or brand names so to me buying those things woudn't make me any happier, traveling or doing other things would. My girls brother loves brooks brothers and nice shit so he would get much more enjoyment out of dressing well and eating out nice than traveling or having a motorcycle, boat, etc. IT's all about what each of our priorities are.

Post: #10

I struggle with this a lot.

In university I was extremely cheap. Friends/girlfriends would bitch about how I would never go out with them or spend money unless there was some guaranteed benefit. Ie. spending $30 to go to the bar only if I know I'm getting some puss or having a great time that night. I never bought much and didn't go anywhere for food unless I was really hungry. Most of my peers would go out for dinner and drinks. I could never justify spending $50 when I could do that at home. Luckily everyone else in university was broke as fuck so it didn't hurt me too bad.

Now that I've graduated I've passed up a lot of opportunities because I didn't want to spend the money. A trip to vegas, spontaneous road trips, going to the bar/the movies. I lost a couple friends that way.

Once I'd saved up "fuck you money" (at least for someone my age). I began to understand money more in terms of hours of my life vs. value of something I buy. It can be used to invest in new experiences, yourself, enjoyment, or to make more money.

People of my generation are trending more towards getting value/status out of experiences. My facebook feed is always full of someones travel pictures, a hike they went on, some 5k run they did. These experiences still are heavily imbued with materialism, but thats starting to change (or at least becoming different).

I've read some early retirement/frugality type blogs and while they always get me excited about saving lots of money and never having to work again I always end up questioning A) what I would do with my time and B) is the sacrifice of connectedness with your peers (tangentially through materialism or purchases of new experiences) and certain luxuries/conveniences worth the amount of time you wouldn't have to work?

Like you said your friends found out the hard way of being frugal/cheap. Is it really worth saving an extra $10 or $1000 on something if you have to sacrifice time and effort to get the deals? Is it worth it to spend so much time combing stores for clothing sales or cooking the same meal every day or wearing the same free t-shirt for a month?

You can either make money the fast way (by spending money/investing/creating a product/etc) or the slow way (putting money away every month for 40 years and living below your means).

Of course you can do a little bit of both, but the goal is to always be moving forward.

When people have money like this and are still living like they make no money they become (in my mind and experiences) poor in quality of life experiences, they never really do anything but focus on how to save the next dollar. I couldn't imagine being on my deathbed, having spent my last perfectly planned dollar, and thinking "I am fulfilled"

Post: #11

Read the 'millionaire next door"

Most of the RICH are VERY frugal. That is one of the reasons they were able to become rich.

But look at it from another point of view. Most designers stuff , etc are thinks sought after by the NON wealthy to feel better about themselves. The REAL wealthy are rich they have no need to buy stuff to feel rich based on an illusion of how the rich are suppose to live.

The author basically says most people try to imitate what they perceive as the lifestyle of the rich..they are wannabees but the real rich don't live that way.

His definition of rich is someone who has a high net worth who doesn't have to work.Someone who has high income but has to work to maintain their lifestyle isn't rich in his view.

Quote:f you have money, but still shop at the discount grocery outlet where you get shitty food on the verge of expiring, you drive an old beater car that's a P.O.S., never go on vacation or travel, or wear old unstylish clothes, I think you are missing out a lot on life.

Really? BS. So basically the food is worst because it is 3 days away from expiration as oppose to 10 days? MOST expiration dates don't even mean much on non dairy stuff.

So the guy shouldn't drive an old reliable car and instead should drive a expensive car that gets from point A to point B the same? Chances are it really isn't a POS car.
Heck I am RICH and I don't even have a car atm(NYC) and if I was to buy one I would buy the cheapest P.O.S. possible.

You forget that a rich person that doesn't work probably has very little use for a car since they don't commute. They can take taxi's and public transportation reliably.

I agree about the clothing..but a RICH does NOT care about the latest fashion and most don't which explains all the classic styles that cater to them( Brook Bro's, Armani, etc). He should just dress nice. After all he doesn't work so he only needs his GOLF shirts lol.

Quote:I think you are missing out a lot on life.

Of course you think that...because you aren't rich lol
They probably think you are missing a lot going to a 9-5 hated job and being part of the rat race.

Quote:I see folks with mercedes benz, etc shopping at the 99 cent store.

Makes sense..why should someone pay 3 bucks for what they can get next door for 99 cents? They are RICH NOT STUPID lol. If they were stupid they probably wouldn't be rich.

On that note..most people with luxury cars are WANNABEES and try to imitate the rich. The real rich according to the book drive less expensive cars.

Also VERY common where I live due to ALL the FSU folks AND religious Jews is that they like to drive BMw's, etc. Half the vehicles on my block are luxury cars but they aren't rich at all.

In fact MANY of them are on public benefits.

Give you a few examples:

1. Russians get out of BMW'S with fur coats on and use food benefit cards in the supermarket. My wife overhears them talking about all the vacations they took.

2. Seen the same getting out of same type cars and getting on food handout lines for the poor.

3. The religious jews go to work and leave the luxury cars for their hot wives(often have wigs) to drive to get their nails done.They live in an expensive big house they inherited from their great grandparents. But there is like over a dozen people living in the house from multi generations and they don't pay property taxes because the MAN of the house registers the home as a place of worship and might even have a religious title in his name. Did I mention half of them get food stamps and medicaid? lol

Seriously... every other house is a 'place of worship ' here lol.


In other words perceptions don't always tell the story.

M

Quote:y other buddy, has a bunch of cash stacked, but lives like he is on welfare, the guy shops at the dollar store, his idea of eating out is hitting the taco truck, his apartment is sparse (barely any furniture, no art, a tv that looks like it's from the 90's). Meanwhile he could easily afford to give himself nice things that would vastly improve his lifestyle.

My pops would disagree. He is OLD and retired and wealthy. He also has an old television from the 90's and he in my mind would benefit from a flatscreen tv. Certainly he could afford and he spends half his time watching tv but he said to me that for him it wouldn't be a benefit because his visual acuity can't see a difference in the picture quality that JUSTIFIES it. If what he tells me is true than I have to agree with him.

He spends 4 months in NYC, 4 months in Florida, 4 months in Vegas...going to night clubs(loves night life) at age of 76. My wife (like most women like to see things) asked him if he visited the grand Canyon. His response 'why would I want to travel a few hours to go see a bunch of rocks? Great I see it and then I go back. As I thought about it I realized something. My pops has a GREAT LIFESTYLE. His gal looks 30 yrs younger, he looks younger and he does EVERYTHING he wants to do. He doesn't deprive himself of anything he WANTS.

The point is... he has no interest in buying or spending time doing something because someone else trying to brainwash him that he should. Considering he has an MBA in marketing I have to believe he knows what he is talking about.

Quote:What's the point of slaving away money to save away for when you're an old man, if you're not enjoying it now?

Because as a co worker once told me, there is nothing worst than being old and poor. It is better to be younger and poorer, besides often people needed more cash as they age.

Post: #12

(09-20-2014 02:29 PM)jimukr104 Wrote:  Read the 'millionaire next door"

Most of the RICH are VERY frugal. That is one of the reasons they were able to become rich.

But look at it from another point of view. Most designers stuff , etc are thinks sought after by the NON wealthy to feel better about themselves. The REAL wealthy are rich they have no need to buy stuff to feel rich based on an illusion of how the rich are suppose to live.

The author basically says most people try to imitate what they perceive as the lifestyle of the rich..they are wannabees but the real rich don't live that way.

His definition of rich is someone who has a high net worth who doesn't have to work.Someone who has high income but has to work to maintain their lifestyle isn't rich in his view.

Quote:f you have money, but still shop at the discount grocery outlet where you get shitty food on the verge of expiring, you drive an old beater car that's a P.O.S., never go on vacation or travel, or wear old unstylish clothes, I think you are missing out a lot on life.

Really? BS. So basically the food is worst because it is 3 days away from expiration as oppose to 10 days? MOST expiration dates don't even mean much on non dairy stuff.

So the guy shouldn't drive an old reliable car and instead should drive a expensive car that gets from point A to point B the same? Chances are it really isn't a POS car.
Heck I am RICH and I don't even have a car atm(NYC) and if I was to buy one I would buy the cheapest P.O.S. possible.

You forget that a rich person that doesn't work probably has very little use for a car since they don't commute. They can take taxi's and public transportation reliably.

I agree about the clothing..but a RICH does NOT care about the latest fashion and most don't which explains all the classic styles that cater to them( Brook Bro's, Armani, etc). He should just dress nice. After all he doesn't work so he only needs his GOLF shirts lol.

Quote:I think you are missing out a lot on life.

Of course you think that...because you aren't rich lol
They probably think you are missing a lot going to a 9-5 hated job and being part of the rat race.

I think that game includes lifestyle and expensive investments is a trap. They are good to get women shure but the price ist very high at least for a frugal guy. I think pure game should be looking like a normal dude but being a great seductive talker.

Post: #13

If it ain't broke, don't fix it.

I'd rather drive a 25 year old car than a brand new one.

Post: #14

It really depends on whether you still consider yourself "on the make" or not. I've never had shit in life, in fact growing up I had to struggle just to feed myself. Now in my mid-20's I have a decent job making $70k+ and no obligations, so I could certainly afford to drive a beamer and live in a nice apartment if I so chose.

Instead, I drive a 2001 Corolla and live in a shitty shared apartment for $300 a month, where in the first month I had to wage desperate war against the cockroach hordes (I do spend extra on healthy food though as skimping on that is being penny wise pound foolish). Thing is, I very much consider myself to be at just the beginning of a long road that I hope will take me to the next level. Once I get to that next level, I will certainly enjoy the fruits of my labor. Money isn't a thing if you don't use it.

Post: #15

I have quoted this a few times.

Play now, work later. Work now, play later. Whatever you do last, you do longest.

Yes, there is a middle ground. I am not all work, but I am looking forward to punching the eject button.

Post: #16

Like many things in life it is best to find a happy medium.

Anyone who reads the frugal threads here knows that I'm keen to spending as little as possible. But, do I let it get in the way of my life? No.

I cook 90% of my meals for myself, saving a shit ton of money on food. But, I buy as much organic, high quality ingredients as possible.

I drive an older car that has a lot of miles on it. It is completely paid off. But, I treat it very well, getting regular oil changes and making sure it runs well.

The topic I'm currently debating is the "why save for when I'm old?" topic. As an alternative community that is what we need to discuss. The MSM wants you to save as much money as possible because they depend on you. They don't want you loving your life and traveling the world to penetrate various girls.

As for me, I'm saving money, but not going overboard. I'm 22 and am already putting pretax dollars in my 401k, but it's not a large enough amount that my standards of living change. And that's why young people need to invest and save - because our standard of living won't decrease much and a small investment now will grow to huge amounts over time, ESPECIALLY if you have company matching.

Post: #17

Growing up poor I acquired frugal habits that stuck. Even now, in the top quintile of US earners I've never spent more than $9k for a personal vehicle, my last one was $2k. Drove a $400 4Runner for years and got paid $1700 for it when someone T-boned me, it didn't hurt my sex life any and got me from point A to B just fine.

Very few people will know the difference between a $200 rolled gold watch you pick up on Etsy from a $5000 watch you pick up at the jewelers. Trail mix from Dollar General is the same stuff as Planters at 1/4 the cost. $3 wine from Aldi's and Trader Joes is more drinkable than many $15 bottles in the wine stores. Lightly used RLPL and Brioni on Ebay go for 1/5 the cost of retail. I do travel and eat out at nice restaurants, but if there is a way to get the same end result for less I'll take it.

A healthy savings account is the best insurance policy, nobody knows what the future will bring.

Post: #18

IMO I'd buy investments over a watch anyday (even 3k worth of McDonalds Shares that pay 3.5% dividend).

Heres a thought, buy a replica watch (who can really tell the difference anyways) and stick the rest into savings.

I've been courting the idea of buying a Hublot Big Bang (25-30k) replica watch ($250) and testing it out.

Post: #19

Its one way to be "rich". But it isn't the way I want to be rich, nor the wealthy would want to be rich. Lets put it this way, they are living smart if they are in their early 20s right now, and are throwing this extra money into investments (real estate, stocks and bonds, possibly starting their own business), while living under their means for a few years until things get off the ground. But it just sounds like they are building a nest for retirement at 65 (or whatever the age will be in 20 years). And it isn't the smartest route, because they will continually work for the money, when retirement comes, this money will be a diminishing resource.

The reason people will never be rich is because they cannot live under their means for a few years while building their empire. An employee will never be rich, I don't care if you're a fucking doctor and make mid six figures. The way to be rich (and I mean actually rich; financially free, mansions, ferraris and TIME) is to get out of the rat race, build your own companies or investments, and sit on that money that is truly passive income. Then, if you really love what you were doing, you can go do it, make an income off it, but still be making money while you sleep.

Your friend is smart for not spending money and treating himself, because he hasn't earned the real ability to treat himself. He can treat himself when he is making money by not slaving away, and that tree drops more cash in his lap every day. Until then, forget about treating yourself, build the empire.

Post: #20

I respect people who have money and are frugal, is that the same as being cheap? Sadly, I am the complete opposite.

Some things I would always spend the money when I have it, such as good food and quality clothes. I recently flew first class to Europe thanks to a buddy hookup, I would always travel that way if I could afford it.

If you like a nice watch and can afford it cash, I see no reason not too buy it. Most Rolexs you don't lose money on.

Post: #21

(09-20-2014 04:19 PM)DVY Wrote:  IMO I'd buy investments over a watch anyday (even 3k worth of McDonalds Shares that pay 3.5% dividend).

Heres a thought, buy a replica watch (who can really tell the difference anyways) and stick the rest into savings.

I've been courting the idea of buying a Hublot Big Bang (25-30k) replica watch ($250) and testing it out.

DVY, that will work well in your case because it is consistent with your ride, look, clothes, profession and other things. I think it would be hard to pass off if the rest of a guy's look didn't match up.

I am sure no one will say anything to you other than it looks nice and expensive!

Post: #22

Quote:Play now, work later. Work now, play later. Whatever you do last, you do longest.

The world is a different animal in your 30's and 40's compared to the 'invincible' 20's. I did some amazingly stupid things that while I thought they were awesome at the time, I would NEVER do now in my 30's. I don't think I would have enjoyed the world nearly as much had I waited.

By your 30's you are well set in your ways, I have friends now that flat out refuse to leave the confines of home because of the 'horrible things' they've heard and.... most of them are true. A single 20 y/o looks at danger as adventure while a married 40 y/o see's it as death. They are both right.

Finally, waiting to travel till 'you are ready' may never come. Eat dessert first, life is short.

Post: #23

(09-20-2014 06:40 PM)rudebwoy Wrote:  I respect people who have money and are frugal, is that the same as being cheap? Sadly, I am the complete opposite.

Some things I would always spend the money when I have it, such as good food and quality clothes. I recently flew first class to Europe thanks to a buddy hookup, I would always travel that way if I could afford it.

If you like a nice watch and can afford it cash, I see no reason not too buy it. Most Rolexs you don't lose money on.

I think frugal just means that a person needs a lot of value to surrender the buck. A frugal person would take first class if he or she had a hookup to get a deal. I think a frugal person just doesn't pay retail. I consider myself frugal and generous.

You may think those two things don't work together, but I think they do. I have spent tons of money taking people out to eat, I enjoy it. But if I am buying something, I research a little bit (for me I derive joy in learning and searching - other would say you spent all those hours when you could have been making money - sure maybe). I plan ahead if I need a part to finish building my pc (which I enjoy doing, I know I could buy something pre-built).

Post: #24

(09-20-2014 07:18 PM)samsamsam Wrote:  

(09-20-2014 06:40 PM)rudebwoy Wrote:  I respect people who have money and are frugal, is that the same as being cheap? Sadly, I am the complete opposite.

Some things I would always spend the money when I have it, such as good food and quality clothes. I recently flew first class to Europe thanks to a buddy hookup, I would always travel that way if I could afford it.

If you like a nice watch and can afford it cash, I see no reason not too buy it. Most Rolexs you don't lose money on.

I think frugal just means that a person needs a lot of value to surrender the buck. A frugal person would take first class if he or she had a hookup to get a deal. I think a frugal person just doesn't pay retail. I consider myself frugal and generous.

You may think those two things don't work together, but I think they do. I have spent tons of money taking people out to eat, I enjoy it. But if I am buying something, I research a little bit (for me I derive joy in learning and searching - other would say you spent all those hours when you could have been making money - sure maybe). I plan ahead if I need a part to finish building my pc (which I enjoy doing, I know I could buy something pre-built).

+1. Agreed plus if you enjoy getting good deals and researching that is MORE quality time than working overtime. (based on the thinking that most hate their job or they like their job but HATE the idea of work).

Post: #25

One problem is hedonic adaptation. It´s so easy to get addicted to comfort and it´s very difficult to get out of it. So many expensive hobbies in the beginning can spoil you for a long time.

It´s so easy to do rationalizations and lie to oneself that´s why there are so many alcoholics. First comes work than play. There is to much risk of being trapped in the rat race when you did not have saved a ton of money or did great investments.

I read the Amish people are now relatively rich because of their hard work and these guys do not even use technology.