I think I'm finally maturing from a financial standpoint. I've always felt the need to have the "latest and greatest" when it came to technology, cars, etc... but I've realized it's just not worth it.

I've had my '04 S2000 for over 2 years now, which for me is a stretch, as I would normally get a new car every year. The smartest thing I ever did was get a second car to share the mileage, and it helps to ensure the S2000 stays feeling "new" to me. I could see myself keeping this car for another couple of years easily, assuming I don't get too tempted to move up.

This is the first time in my life where I've had thens of thousands of dollars in the bank, and I really like the feeling of knowing that if and when I do decide to splurge on a vacation or a new TV, I've got the money sitting there ready to fullful those desires.

But at the same time I can also sleep at night knowing that I don't feel the need to go out and blow all of my hard earned money on stuff I don't really need.

 

[QUOTE=koala,May 29 2006, 04:49 PM]I think I'm finally maturing from a financial standpoint.

 

if other people decide to ruin their lives. who am i to say they are wrong to do it?

 

@ $8 / hr that sure does sound like a waste of money. Sometimes I hate to say it or think it, but you wonder why some people never amount to anything or get anywhere in life... that is a prime example.

 

how old was this "friend of a sister in law"

was she 18 or 33.

 

36

 

I bet a lot of it comes to never having any sort of money management skills/training. How many of those people come from families that stressed the importance of saving and not buying anything & everything? If all you've ever seen is irresponsible spending, how do you know that's not "normal"?

 

thats absurd.

shouldnt they be in a home?

 

saving lots of money is good. but sometimes, it as a goal can get in the way of living a great life. do what makes you happy. spend money on things that really make a difference in your life. when the people in debt start feeling badly about being in debt, then they will change. as of now, the praise and attention they get from others is enough to overcome the bad feelings. but our society is pretty messed up in this area.

 

I think what Scot is saying, and I am suprised he is getting so much grief over it, is that individuals would be much better off if they lived within their means. The economy would improve as well. A good economy requires, among other factors, the right balance between saving and consumption. Americans currently do not save enough. Saving increases the supply of loanable funds needed for venture capitalism and economic development. The lack of savings is one of the reasons that interests rates have been rising in the past couple of years.

Oh, and Bitsa, I am anxiously waiting for you to explain the point to your tale of two convenience stores.