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#91
04-10-2007, 01:58 PM
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Re: Your Mental Approach to Spending
[ QUOTE ]
The joy of just being in a store is enough for most women. When my wife talks about driving 4 miles to save $.05/gallon on gas I get really worried. Uh, that is .60 savings per tankful honey. But she grew up hand-to-mouth so it is her mindset to save money whenever possible. [/ QUOTE ] KJS, I'm sure you already think about it like this, but just to belabor the point: $0.05/gal savings for $0.60 (12 gals). Let's guess you get 30mi/gal. But you have to drive 4 miles to get there, that's 0.13gal expended at, say $2.50/gal cost is $0.35 in gas just to SAVE the $0.60. So you're down to saving a QUARTER net. That's before factoring in wear and tear on the vehicle (what's the corporate reiumbursement rate these days), and THAT'S before even factoring in your precious time. So it's not just a silly little penchant some people have, it's bad decision-making, by a lot. And the only reason we don't try to train them to think otherwise is... wait for it... it's not worth our time. 
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#92
04-10-2007, 01:59 PM
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Re: Your Mental Approach to Spending
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I've always lived beyond my means, no matter how much I made. The key is just to keep increasing your salary, like a one-person pyramid scheme. So far so good... [/ QUOTE ] I did this until I was 28. I'm 32 now. The other option is better.
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#93
04-10-2007, 02:35 PM
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Re: Your Mental Approach to Spending
I'm 38. I've funded countless vacations and fun stuff on credit cards/loans. I don't think I've ever denied myself something I wanted for lack of funds. Not surprisingly, even though I've made a lot of money in my life, I'm in debt.
Still I have no financial regrets. If I had a family or could even dream of affording a nice home in LA I might feel differently. House-poor for a boring 3-bedroom 1970s condo across from the refinery in Torrance? In this housing market? Pass. I figure my 40s will be for building empires. Personally the idea of settling into a decent-wage job and planning for my retirement holds zero appeal for me right now. I'd rather go to some 3rd world country and make hats on the beach.
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#94
04-10-2007, 02:38 PM
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Re: Your Mental Approach to Spending
[ QUOTE ]
I've always lived beyond my means, no matter how much I made. The key is just to keep increasing your salary, like a one-person pyramid scheme. So far so good... [/ QUOTE ] Suzzer, I like you so I hope you are kidding about this. Cliff Notes: This is a really bad approach.
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