My girlfriends wage is 3x my own, she struggles with money whereas I know where every penny of my money goes. I know what I can and cannot spend and put away money each week, if there's a cheaper way of doing something I will. I don't spend money on **** I don't need, if I want something I save up a bit each week till I can afford it.
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03-21-2012, 09:14 AM #121
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03-21-2012, 09:15 AM #122
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Agreed. You can be cheap for most of your life and save until you have millions in your account when you're older, or you can spend your money as it comes along. In the end one might be a millionaire and the other? Well, he might not have as much money but at least he lived his life.
Money doesn't only buy you material things. You can also spend them on experiences that otherwise you would miss out on because you'd rather not spend the extra money on a road trip with your buddies, or a vacation with your family just because they're not necessary.
In the end, everyone will die. It might be today, tomorrow, or 70 years from now. Whether you have millions or a measly dollar in your bank account when you finally do die, you won't be able to take any of it with you. I work hard for my money, and I intend to keep spending it on things that I enjoy.
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03-21-2012, 09:16 AM #123
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03-21-2012, 09:16 AM #124
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03-21-2012, 09:22 AM #125
Actually, that's not necessarily true. I've known/still know two multi-millionaires in my life, and this is how they lived their life:
1. 70 year old guy, divorced, and dates a 40-something year old woman. Deals in oil, regularly makes trips overseas. Dresses like ****, rarely goes to restaurants, and when he does drop cash, it's almost always to do with house renovation/income, and very rarely for personal pleasure.
2. Late forties guy, recently divorced, and business continues to grow. Goes to expensive restaurants 2 - 4 times a week, has 3 regular cars (Land Rover, Mercedes and BMW) and spends stupid amounts of money catering to both his children and current girlfriend's children. Takes out small loans throughout the month (as he's maxed his cards, despite making huge bank), and pays them off the following month. European vacations 1 - 4 times a month, and domestic vacations half as much. Spends a lot on suits.
Two completely different lifestyles really. It doesn't take an idiot to conclude that the second guy is living life more by the seat of his pants, though he's been doing that for 20 years, and it hasn't bitten him in the arse yet. The first guy, however, has several dozen properties, including a block of student flats, so his fortune is more than likely going to last several generations.thinks of his mother when fapping CREW
prefers butthole to pussy CREW
closet homo CREW
salvation army told me to get my schit together CREW
couldn't score a 2/10 so became gay crew
no gay men interested in me CREW
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piercings infected, look worse than i did before CREW
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03-21-2012, 09:23 AM #126
Millions of people all around the world spend less than a dollar a day on food and other necessities.
The concept of frugality by itself will not necessarily lead one to wealth over time - but it is an integral component in the entire equation.
Humor us however: what exactly are your qualifications? Degrees perhaps? Do you have a financial portfolio to back up your claims regarding your future 'balling' status?
Keeping your money in the bank over time is most definitely a wise decision - but long-term inflation will kill any of the profits to be gained brought upon by compounded interest rates.
Warren Buffet and Bill Gates didn't just sit around doing nothing - they took risks with their money.
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03-21-2012, 09:23 AM #127
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03-21-2012, 09:28 AM #128
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03-21-2012, 09:29 AM #129
True, good post - agreed with everything (especially the bolded part).
Race I'm referring to is someone's nationality/ethnic background, not where they live. The concept of this thread can't apply to someone living in a place which doesn't allow them the chance to spend frugally.
My qualifications don't matter. I'm not an advisor or a consultant, I didn't promise anyone anything. These are my views and you can take them for what they're worth or try to revoke them.Leafs, Raptors, Jays, umad?
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03-21-2012, 09:30 AM #130
My ideal life would be having a million by age 30, by then figuring out a way to make a high income while only doing 20 hrs a week, and then doing whatever the hell I want.
Some things to include
-Make a viral youtube video
-Be a highly ranked starcraft 3 or legacy of void player (lettuce be real tea they are continueing the series) and win a major tournament
-Have a GIANT network of friends that I can crash at their place, otherwise couch surf or a cheap hostel
-Have either a cheap yet very fast car, probably a 1985 supra with some engine work, and do stupid **** on the high way all the time, pay expensive lawyers to get myself out of tickets
-either that or a nice bike
-go on road trips/travel a **** ton
-and then once i'm 60+ i'll probably start to own the hotels in major cities i like, get an advanced degree in physics or law if I'm still interested in those subjects and maybe write a book.
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03-21-2012, 09:31 AM #131
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03-21-2012, 09:31 AM #132
OP you need to realize people have different goals and more importantly the things that make people happy will define their future.
I don't go out to bars every weekend, i invest in stock with extra money sitting in the bank, there's a couple things I could buy for a grand or so but never did because It wouldn't make me "happy". Some people find happiness in many material goods. Others don't care for materials THUS saving their money in the long run by default. It's more of a personality thing.
All i need is a gym and food to be content really. Don't get me wrong I go out in college but rarely spend money on alcohol. House parties free alcohol etc.
I'm blessed I have an aunt in Poland so I can travel around Europe every few years, but that's something that can wait for when I'm wealthier to do it alone .
Most importantly op. lots of people our age just don't give a ****. They live in the now. Disregard past and future.Snatch: 122
CJ: 142
Log: http://adamkosna.blogspot.com/
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03-21-2012, 09:31 AM #133
Personally, I dgaf about retirement. I'll save for "emergencies" and whatever. But my goal in life isn't to get to the end so I can do nothing. The point of your life isnt getting to the end so you can retire and begin living imo. I get fulfillment from the work I do, it's a huge part of my life. Besides, who knows if you are even lucky enough to make it to a retirement age. Let the flames begin.
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03-21-2012, 09:32 AM #134
the point here is simply that the earlier in life you achieve 'millionaire' status or become financially backed by some stable and significant source of passive income, the earlier you can allow yourself to be set free and released from the chains of the 'rat race'/9 to 5/making someone else a millionaire lifestyle and begin to live the way you truly want to live without having to worry about money and the financial consequences that would otherwise occur.
Whereas others may prefer to spend the money as it appears and enjoy themselves regularly while being careful not to go overboard and do not mind dealing with the consequences
I think that's what OP is getting at. There's no right or wrong but I do agree with OP in that sense. I would much rather spend the second half or so of my life living it how I want, when I want, where I want, than living my whole life feeling the squeeze of money's grip holding me by the balls and the stress that can come with that.
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03-21-2012, 09:33 AM #135
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03-21-2012, 09:35 AM #136
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03-21-2012, 09:38 AM #137"The invisible and the non-existent look very much alike" - Delos McKown
"Suppose there was an intelligence, vast and unknowable. Suppose it lit the big bang, suppose it wrote the laws of physics, and has been subtly moulding the universe for 14 billion years. Now keep a straight face and tell me that it cares where you stick your dick."
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03-21-2012, 09:41 AM #138
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03-21-2012, 09:43 AM #139
There are two types of millionaires
1) those with the capitalistic mindset
2) those without the capitalistic mindset
For millionaires with the capitalistic mindset, they got rich either through making a product or through smart investment. Both methods require the ability and willingness to save money and see value in things that don't cost so much. Once they have cultivated the habit of being frugal--which is necessary ate the beginning when they have not made their money yet--they tend to maintain their frugality even when they are rich/
For the second kind of millionaire, the ones without the capitalistic mindset, they tend to not have the habit of being frugal. An example is an actor such as Justin Timberlake, whose IQ is below 125. Mr. Timberlake has extreme attachment to his expensive possessions. Evidence of this is the show Punk'd with Ashton Kutcher, where Ashton Kutcher sent a bunch of guys pretending to be IRS agents to Justin's million-dollar mansion and made him think that due to tax irregularities they had to take away all his possessions. At this point, Mr. Tiberlake fell for the prank and started crying. Now do you think that the first kind of millionaire would start crying in this situation? No, he would calmly and rationally assess the situation and think about what to do next, i.e. call a lawyer, either that or figure out that someone is playing a prank on him. However, Mr. Timberlake did not do that, what he did was cry and then took out his cell phone and called his mom. Keep in mind that this was in 2001, when Mr. Timberlake had already made a fortune from his boyband 'N SYNC. In fact, the evidence of Mr. Timberlake's non-capitalistic mindset can be seen in the kinds of products that he produces. Most of the time he does not write his own music, indicating a lack of creativity. Capitalists have creativity. Mr. Timberlake does not, although he does have millions of dollars.
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03-21-2012, 09:45 AM #140
1. Lol @ the retards that say "why have money if u cant spend it!?", "livin life to da fullest, no savings..u mad?"
2. Lol @ the ones who think being frugal with their jobs for 30-40 yrs is going to get them anywhere.
The rich know that money is a tool, not something to blow. Capitalism is making money with money, If you are a wage earner, your life is dependent on a limited, fixed income, You make money then spend it on useless **** and you wonder why youre broke? The rich earn their living by "buying cheap and selling dear", they make money...then use that money to make MORE money. They dont get paychecks, they dont have a fixed amount they make a yr, they make profits, not wages.
So many financially illiterate people in America its mind blowing.MIKE TYSON: "When you see me smash somebody's skull, you'll enjoy it."
"I try to catch him right on the tip of the nose, because I try to push the bone into the brain."
"It's ludicrous these mortals even attempt to enter my realm."
"I can sell out Madison Square Garden masturbating"
"I'll f**k you till you love me f**got!"
"I just want to conquer people and their souls"
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03-21-2012, 09:57 AM #141
Thinking like this is the problem. I'm far from a millionaire but I do everything I want already. Why wait for future that may never come? What if there's another great depression, world war III turns earth into a nuclear wasteland or you die from a tragic space toilet mishap. Focus on making life great now. You don't have to be stupid about it and put yourself in a position where your later life is going to be terrible. If you focus on always making the present great and you always live in the present, then your life will be great.
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03-21-2012, 10:01 AM #142
The real tea is that most people want that millionaire lifestyle to make their life great. To get it, they spend a bunch of cash that isn't theirs. When the loan gets called in, they can't pay and lose those things that made their life great. And then some.
If you play it smart and put off the need for that immediate satisfaction from time to time, you can work your way up to a very good lifestyle without having to hurt a whole lot for it later. And still enjoy things along the way.
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03-21-2012, 10:02 AM #143
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03-21-2012, 10:03 AM #144
I see where you're coming from, but I think if you live your life like this there will be no stability. You're right that any one of us can be gone tomorrow. But say you don't suddenly die - say you live a long, full life. Will living 'in the moment' provide you with the financial means possible to maintain that 'making the present great' mentality? For you perhaps. But for me there are many things I know I can't achieve if I live like you do.
Anyone can make life great while being thrifty. That's the point of this thread.Leafs, Raptors, Jays, umad?
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03-21-2012, 10:07 AM #145
My dad is cheap as hell(yes jew) made his own money in real estate and worked his ass off for it. He is currently worth over 3 mil, but you would never know it.
He NEVER buys himself anything he needs(new cloths), never buys anything he wants unless we make him(i MADE him buy a new laptop a few months ago because his was so old and crappy) and he will never take a vacation unless we make him.
He sits around and stresses about his stocks and doesnt have much fun(again unless we make him)
Could I do the same, yeah sure, but I wont! There is more to life then money man, and yeah saving and being rich is nice but if you dont have any fun along the way whats the point?
I sure as hell dont want to wait to get my race car or travel when Im retired and cant enjoy it!
Find a happy medium and stop worrying about crap that doesnt matter.
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03-21-2012, 10:12 AM #146
It's because people's priorities are all wrong. Thinking that a millionaire lifestyle will make you happy is basically thinking that money makes you happy, which is doesn't.
People either saving to get that lifestyle in the future or over spending today to get it now are both approaching life in the completely wrong way. Life is about the friends you make, the laughs you have, your first blowjob, the movie that blew your mind and the song that got you through the tough times, the time you finally benched 225 after working at it for years, the first time you fail at something you desperately wanted to achieve, when you pulled your mate out of a fight, got smacked in the face for your efforts and would do it again in a heart beat.
If you learn to love the life you have, you'll find that you'll be happy with $50k/year or $500k/year.
For Real.
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03-21-2012, 10:12 AM #147
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"You dont get rich by spending money" - A man who is a millionaire and very close to me.
u mad i value liberty over equality?
"From each according to what he chooses to do, to each according to what he makes for himself (perhaps with the contracted aid of others) and what others choose to do for him and choose to give him of what they've been given previously and haven't yet expended or transfered." -Nozick
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03-21-2012, 10:12 AM #148
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03-21-2012, 10:16 AM #149
I agree entirely with you that real experiences, relationships, etc... are what make life worth it.
However, although money doesn't make you happy, in our culture, not having money can make you terribly unhappy. Having that extra stress in your life can also create tension in the more substantial parts of it. More than one relationship has ended over inability to deal with money troubles.
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03-21-2012, 10:17 AM #150
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