i rather read a book on how to make more money.

Now with mo money, you save 1/3 in something that grows. 1/3 pays all your bills. and 1/3 to blow and make yourself happy.

 

mav-

I agree. I read an excerpt from this book, and it seems to be too extreme. Yes, you can become a millionaire if you save every penny you have, but that assumes that becoming a millionaire is somehow it's own reward. That's not the case for me. I want to have a safety net, and I want to have a nice plump nest egg when I retire, but at the same time, I don't want to feel like I'm sacrificing the best years of my life just so I can have a huge bankroll when I'm too old to take advantage of it.

The key is balance. If you like to travel, you should have room in your budget for a vacation or two each year. If you like nice clothes, budget a set amount for clothing each month. At the same time, we need to budget for the future. And when we think about making a frivolous purchase, we need to think: Is this $1500 watch really necessary, or would I prefer to invest that $1500 and turn it into $3000 in a few years?

 

^ definately the watch!

 

I would guess a lot of poeple who blow big $ are either using their parents $ or are charging a bunch of it...... There are people who only have one car though, who could afford to spend a pile on it, instead of having 3-4 cars.....

I didn't read "the millionaire next door", but have a buddy who tried to get me to read it.... blaaa.... buy more rental houses so I can have more $ to piss away seems a lot smarter than eating ing pop tarts (well...generic pop tarts) to save $.

i think that book says to drive a 2-3 year old ford tauras.... YA BABY!

 

hey Scot!

do you use a management company to manage your rental property or do you do it yourself?

 

i currently do it myself...... that way i can pick the tenants, save some $ on the management fee, plus when something goes wrong I think they probably charge more than usual to get it fixed.

We have 17 houses all within about 10 miles of each other....

I fixed up and sold 2 houses (1 last jan, and one last week) that the person living that i rented them to decided to buy them. So that put $20k each into my pocket and I sold them each for a reasonable amount instead of trying to hose everyone........

o ya..... for some reason right now I have a few people (like 5) that owe me some $ for something..... some are section 8 and their portion is $200 a month and they are slow at paying.... I have 2 privately rented places that the tenants owe me about $1200 each.........i am starting to learn to be a bigger dick and charge people late fee's on the 10th no matter what.... i was trying to be too friendly before.... that got me walked on.... I have never had to evict someone but I am getting close.

 

I have some disposable income, but my wife doesn't seem to agree with me So I take what I can get.

It's been a long 3+ years trying to modify my car.