Reminder: Being cheap is not a pathway to wealth. Focus on increasing your income.

[r32gojirra]

Why?

Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.

By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.

If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.

TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.

Inb4 Dave Ramseycels

[theory816]

Land and resource steeling is the quickest way to wealth.

[r32gojirra]

Land and resource steeling is the quickest way to wealth.

Disregard fiat acquire land

[Horizon92]

No, being cheap IS the pathway to wealth.

Why?

Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.

The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.

[theory816]

No, being cheap IS the pathway to wealth.

Why?

Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.

The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.

Being cheap can be ineffective because lets say you need to buy medicine to cure a cough. If you buy the cheap stuff, its not effective at certain dosages. That's one of the problems with being cheap - youre not yet accomplishing the very least of whats required. Being rich often means you're doing more than is required.

[ErnieMccracken]

This is one of the biggest red pills about wealth. Dave Ramsay is full of chit. You're not a boomer, you have no pension, and you can't wagie slave your way into the wealth class anymore like your parents and grandparents did.

Most of the lower and middle class money is being vacuumed up by the guys at the top. You think the cost of living is going to go down? You think they'll ever be happy? The only way to win is to keep money coming in faster than Mr. Noseberg can rake it away.

[AlexxVann]

Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one..

Would satisfy me for as long as I could live doing it to be fair.

[r32gojirra]

No, being cheap IS the pathway to wealth.

Why?

Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.

The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.

Lowering your expectations to fit the limits of your imagination is the definition of cope

[Horizon92]

Would satisfy me for as long as I could live doing it to be fair.

The issue is that it wouldn't. You would very quickly get tired of buying car after car - and even if you kept doing it, you wouldn't be more happy than if you just had a single, properly working car for years on end.

Lowering your expectations to fit the limits of your imagination is the definition of cope

I mean, what you just said can be applied to anything. If a heroin addict just wants to take as much heroin he physically can because its so god damn sweet, but he also wants to quit because he's worried about where that might lead - do we say no, in fact your life would be better if you never took heroin in the first place, or do we say "Lowering your expectations to fit the limits of your imagination is the definition of cope"?

Its just a simple fact that endless consuming won't make you happy, period. Its also a simple fact that almost no one actually becomes wealthy, even though a huge amount of people try. Chasing wealth will for most end up being a waste of time. You're better off seeking true fulfillment elsewhere because not only is it much, much more realistic to obtain - its also just objectively better.

[MustardTiger17]

I think I'll listen to Dave Ramsey instead of an anonymous gay Indian thanks

[ErnieMccracken]

I think I'll listen to Dave Ramsey instead of an anonymous gay Indian thanks

brb work 10 wagecel jobs
brb drive chitty used toyota
brb spend nothing
brb live in the pod, eat ze bugs

He doesn't even follow his own advice.

[davik]

cant believe you think youre smart

[r32gojirra]

cant believe you think youre smart

Point out where I claimed to be smart, genius

[r32gojirra]

The issue is that it wouldn't. You would very quickly get tired of buying car after car - and even if you kept doing it, you wouldn't be more happy than if you just had a single, properly working car for years on end.



I mean, what you just said can be applied to anything. If a heroin addict just wants to take as much heroin he physically can because its so god damn sweet, but he also wants to quit because he's worried about where that might lead - do we say no, in fact your life would be better if you never took heroin in the first place, or do we say "Lowering your expectations to fit the limits of your imagination is the definition of cope"?

Its just a simple fact that endless consuming won't make you happy, period. Its also a simple fact that almost no one actually becomes wealthy, even though a huge amount of people try. Chasing wealth will for most end up being a waste of time. You're better off seeking true fulfillment elsewhere because not only is it much, much more realistic to obtain - its also just objectively better.

Your analogies are so tortured they are empaneling a jury for you in the Hague

[DuracellBunny]

I sold everything I had, rented a 400 square foot apartment and lived as cheaply as possible so that I could hire my first 4 employees.

I used being cheap to increase my income.

[skier!]

Dude you have made this thread four times in the last month

[akferd]

Why?

Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.

By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.

If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.

TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.

Inb4 Dave Ramseycels

Jews and Indians would disagree. And in this country they know a thing or two about wealth. Im doing both for now.

[r32gojirra]

I sold everything I had, rented a 400 square foot apartment and lived as cheaply as possible so that I could hire my first 4 employees.

I used being cheap to increase my income.

Sure.

But if you had only done the first part - living cheaply - you would be in that same situation today.

It’s the second part - the income - that is the important bit.

[eddiehaskell]

Been hitting the bong again tonight and decided to grace us with your edgy advice?

It's not an either or thing. Most people can do both at the same time...reduce expenses while also working towards increasing income.

Now tell us why something that has worked for billions of people is actually wrong.

[DuracellBunny]

Sure.

But if you had only done the first part - living cheaply - you would be in that same situation today.

It’s the second part - the income - that is the important bit.

You have to increase the difference between your income and expenditure, which requires you to do both. Most people increase their lifestyle to match their income; so whilst increasing their income increases their standard of living, it doesn't actually build any meaningful wealth.

What they have to increase is their discretionary income, as opposed to their disposable income and then limit their use of discretionary income on non-essential goods.

[r32gojirra]

You have to increase the difference between your income and expenditure, which requires you to do both. Most people increase their lifestyle to match their income; so whilst increasing their income increases their standard of living, it doesn't actually build any meaningful wealth.

What they have to increase is their discretionary income, as opposed to their disposable income and then limit their use of discretionary income on non-essential goods.

There are hard limits on how much you can decrease your expenditure, and inflation is constantly working against you.

Less so on the income side.

[Anachron]

Just LOL @ ramsaycels srs, almost as delusional as cardonecels.

[MustardTiger17]

Just LOL @ ramsaycels srs, almost as delusional as cardonecels.

No idea who cardone is, and I realize all you do is troll so I'm expecting a snarky response with a smiley face.However, I'm not sure how anyone can have an issue with the advice of living within your means, investing your income and avoiding bad debt.

[Anachron]

No idea who cardone is, and I realize all you do is troll so I'm expecting a snarky response with a smiley face.However, I'm not sure how anyone can have an issue with the advice of living within your means, investing your income and avoiding bad debt.

It's because it's financial common sense, but the guy is making money off of it by presenting fake scenarios that financially illiterate people believe are real.

Canned beans or whatever his catchphrase is.

[r32gojirra]

No idea who cardone is, and I realize all you do is troll so I'm expecting a snarky response with a smiley face.However, I'm not sure how anyone can have an issue with the advice of living within your means, investing your income and avoiding bad debt.

If you read the OP, the whole post is contingent on the assumption that you want to get wealthy.

If that assumption does not apply to you, then carry on as you were.

[Itzblunted]

So much I can fucj everyone over and expect no one to do anything about it itt

[r32gojirra]

It's because it's financial common sense, but the guy is making money off of it by presenting fake scenarios that financially illiterate people believe are real.

Canned beans or whatever his catchphrase is.

Cardone present real estate as some kind of risk-free printing press for money. He’s just as bad or potentially worse than Ramsay.

[Anachron]

Cardone present real estate as some kind of risk-free printing press for money. He’s just as bad or potentially worse than Ramsay.

Cardone is just cope fuel for rentards.

"I'm renting where I live, just like Cardone".

[MustardTiger17]

It's because it's financial common sense, but the guy is making money off of it by presenting fake scenarios that financially illiterate people believe are real.

Canned beans or whatever his catchphrase is.

That's one of the issues I have with him, I'm not going to give up eating out. I work hard so I'll splurge when I want to. I think of him in the same regard I have for Jordan Peterson, he has some solid advice but I don't treat his word as gospel.

[Condo41]

Almost anyone can make money.

And literally any idiot can win millions.

It takes skull to manage money.