Do you live within your means?

I hear you and for the most part have a healthy finincial portfolio but I hate people that are cheap and pinch ever damn penny. God lord live a little, you only have one life.

And if the only reason you are pinching every cent is so you can have quicker retirment, god bless you. I personally rather work then sit in my easy chair and watch the Price is Right every day at 60.

My brother in law's dad was just like that pinched every penny so damn cheap. He retired at 55 I belive, he went about 4 years of watching TV everyday, guess what now he has a job at a health club becasue he was so bored.

I HATE cheap people, I rather be broke and giving then rich and cheap, any day!

This was a general statement not targeted at you S10.

Let me clarify. If you're spending more than you're making, then you need to pinch pennies. Otherwise you're never going to retire, and you'll be flat out miserable when you're working at age 70 to supplement social security in an attempt to pay off debt. The "I hate cheap people" viewpoint is fine if you make enough money to generate savings and still save money. But if you don't make that much and you're going further into debt, then spending is one of the dumbest things you can do in life.

I big time disagree. You can deduct up to 2.5k of student loan interest right from the front page of your 1040, as long as you make less than 70k. If you have more than 2.5k of loan interest then pay it down to get to that level. I think paying off all other debt, saving up for a down payment on a house, building a cash reserve, or stating a Roth or contributing to your 401k if theres a match should be priorities over paying down student debt. Let it ride till you (hopefully) make too much…

From a tax perspective that makes sense, but from a cash flow perspective most kids aren't going to have the income to both pay off student loans and save up for retirement/houses.

Unless you're saying they should stay home with mom and dad to sock away money to buy a house, that I can get on board with. But only if there's enough cash flow to sustain mortgage payments and student loan payments when out on your own.

There's too much focus on the income statement in the heads of Americans, and not nearly enough on the balance sheet.

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We did, we were able to sell our house and pay off our mortgage and obviously we're incredibly fortunate because of that. Believe me we'd give it all up in a heartbeat to have her back, but yes it put us way ahead of the game, obviously the circumstances that put us in this situation just stinks.


I agree I would not trade any of my family members for a mortgage free home. So you still paid for your house just at a much higher price.Again, sorry for your lost.

After I posted this I went to lunch and thought this was a dick post, sorry if I salted any old wounds.

Let me clarify. If you're spending more than you're making, then you need to pinch pennies. Otherwise you're never going to retire, and you'll be flat out miserable when you're working at age 70 to supplement social security in an attempt to pay off debt. The "I hate cheap people" viewpoint is fine if you make enough money to generate savings and still save money. But if you don't make that much and you're going further into debt, then spending is one of the dumbest things you can do in life.

Well you have to spend to live no way around it.

We lived beyond our means and are literally paying for it now. Paycheck to paycheck for probably the next 2, maybe even 3, years.

I don't plan on retiring. My lot in life is to work and be happy. I live below my means. There aren't too many things in my life that I could cut out. Yes some things could go, but I'd be uncomfortable, IE: petrol, electricity, refrigeration. Anything else that I may need, like a trip to the doctor, I pay for in cash or barter. All I really need to be comfortable is a library card and running water. I'd miss you guys but I could do without the internet and my cell phone, but I don't pay for those now anyway.

Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.

Depends how you define means? Do I spend too much and save nothing? No. But do I buy stupid things like video games and booze? Yes.

You should be able to buy all the booze and vids you want as long as you can afford it. So if buying these things are keeping you from saving for retirement (assuming you want to retire), keeping you from buying healthcare (assuming you will need it at some point), or forcing you to rack up debt then you are above your means. Otherwise youre good.