Disposable Income
Former Moderator
Joined: Jun 2002
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From: Columbus
Also realize that what you think you see as "disposable income" might really be loads of debt. I have friends and family members that live in nicer houses, lease nicer cars and travel all the time. The difference between those folks and my self is I don't owe anyone squat except my mortgage....most of them are buried in debt. My sister in-law is saddled with over 40k on her credit cards. Her interest alone is over $600 per month.
The average credit card holder has $9,000 on their credit cards.
The average credit card holder has $9,000 on their credit cards.
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Joined: Nov 2003
Posts: 1,440
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From: Harbor City
^ I used to have major debt. Lived waaaaaaay above my means while in college.
While in college, I had a new 99 civic si with volks, apex'i coilovers, etc. etc. all while working part time at a movie theater! Crazy now that I look back. Then I got a 02 wrx and put almost 15k into it.
Now I have a decent job, been promoted a few times, and i'm finally almost done paying all that crud off. Which is the main reason my car is so stock. It took a year to save up some $$ for some coilovers (bilsteins) and an intake (k&n). Oh yea I do have a retirement plan!
While in college, I had a new 99 civic si with volks, apex'i coilovers, etc. etc. all while working part time at a movie theater! Crazy now that I look back. Then I got a 02 wrx and put almost 15k into it.
Now I have a decent job, been promoted a few times, and i'm finally almost done paying all that crud off. Which is the main reason my car is so stock. It took a year to save up some $$ for some coilovers (bilsteins) and an intake (k&n). Oh yea I do have a retirement plan!
Registered User
Joined: May 2001
Posts: 7,337
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From: Los Angeles, Miami
Originally Posted by mingster,Jan 9 2005, 05:34 PM
live below your means.
for example: we hardly ever eat out, which can be a very expensive. i also don't buy anything i don't need, nor do i make impulse buys. everything is planned.
for example: we hardly ever eat out, which can be a very expensive. i also don't buy anything i don't need, nor do i make impulse buys. everything is planned.
We go out to eat every weekend. I buy things I don't really need (Amuse exhaust for my S2000 or having two cars for examples). I buy things at a whim or because "I feel like it" many times. Besides planning and expensing out my wedding and house, I don't plan my expenses. I have very little credit card debt, 99% of my spending is from incoming cash.
Live a little, enjoy life and the hard money you earned. I will never understand why some people (and I'm not referring to anyone specifically, just in general) insist on being cheap asses all their lives and save up all this money in the bank. Afterall what good is having millions in the bank, but never having the chance to enjoy any of it, when you're dead?
Fock that, spend it all. When I die I want to have $0 in my bank account. You only live once, enjoy the short time you have. That's my financial philosophy.
Joined: Mar 2002
Posts: 112,963
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From: Doh!!
I like to think I live below my mean but now that I make some money itsometimes feels nice to be able to spend without thinking about it. Unlike a few years ago when I have to think "delayed gratification".
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Joined: May 2001
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From: Los Angeles, Miami
Originally Posted by SgtSaunders,Jan 9 2005, 08:27 PM
Read "The Millionaire Next Door" by TJ Stanley...this book changed my life.
The basic premise of this book is frugality, a PC term for being a cheap ass. Yes you too can claim to be a millionaire if you live like a pauper. Which is better, someone working a mediocre job, living on the cheap watching every single penny spent in detail so to amass a great fortune only to die with millions in the bank regretting they never enjoyed life or someone who works harder and smarter, takes risks, has several nice cars, has a nice house, goes on annual vacations, enjoys life and dies a happy man with no regrets? I whether die a happy man with no regrets.