Do you live within your means?

[Schneed10]

PS If you're living beyond means, you're robbing yourself of retirement years.

Sometimes you gotta do it if you get laid off, for instance. Can't help that. But it's vitally important to pinch the pennies as tightly as possible and avoid going into debt as best you can, because it ultimately just robs you of freedoms later in life.

[mredskins]

Originally Posted by Schneed10

PS If you're living beyond means, you're robbing yourself of retirement years.

Sometimes you gotta do it if you get laid off, for instance. Can't help that. But it's vitally important to pinch the pennies as tightly as possible and avoid going into debt as best you can, because it ultimately just robs you of freedoms later in life.

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.

[Schneed10]

Originally Posted by mredskins

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.

[mredskins]

Originally Posted by Schneed10

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.

[Schneed10]

Originally Posted by mredskins

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

I guess you and I have vastly different definitions of what "living" is.

To me, you can't beat playing with your kids in the park on a sunny day. The best things in life are free.

That's not to say I don't spend the money to belong to a pool, or that I don't take them to amusement parks, etc. But you don't have to spend a lot to have a good time in life. My opinion.

[mredskins]

Originally Posted by Schneed10

I guess you and I have vastly different definitions of what "living" is.

To me, you can't beat playing with your kids in the park on a sunny day. The best things in life are free.

That's not to say I don't spend the money to belong to a pool, or that I don't take them to amusement parks, etc. But you don't have to spend a lot to have a good time in life. My opinion.

I meant spent like food, housing, etc... and I agree you don't have to over spend. I was targeting more folks who won't even go to the park on a sunny day because they have to spend money on gas, that is the cheap I am talking about.

Honestly my son is two for Xmas I could just wait and until everyone puts out there boxes and then go drag them in, he would be in f--king heaven and it would cost me $0.

[GMScud]

I was just looking at my BofA checking account online, and it made me think of this thread. Anyone who banks with BofA, I recommend the "Keep the Change" feature for your accounts. If you're not familiar, what it does is for every purchase you make with your check card, it rounds the amount up to the nearest dollar, and puts the difference between that and your purchase directly into your savings account. For example, if you spend $6.50, it will debit your checking account $7.00, and put $.50 into your savings account. That feature alone has put an extra $1,000+ into my savings account this year.

[Schneed10]

Originally Posted by mredskins

I meant spent like food, housing, etc... and I agree you don't have to over spend. I was targeting more folks who won't even go to the park on a sunny day because they have to spend money on gas, that is the cheap I am talking about.

Honestly my son is two for Xmas I could just wait and until everyone puts out there boxes and then go drag them in, he would be in f--king heaven and it would cost me $0.

I got ya now. I honestly can't say I know anyone that frugal. That sounds like living in a prison.

I do have a problem though with people who live beyond their means even when they don't need to. People who get laid off and are forced to dip into savings and go into debt, that's sad and I feel for them. But this guy who works for me (so he makes less than me) lives in a 3000 square foot house (pretty sizeable for Philly suburbs) while mine's about 2100, and drives a BMW while I drive a Toyota. Then he has the gumption to whine about how his electric service is about to be shut off because he's been missing too many payments.

I don't feel envious of the lifestyle he lives, I just want to shake the stupid out of him. Is the bigger house and the nicer car really worth the stress of feeling that strapped for cash? I'd much rather scale down and not have to worry about money than be house-rich and cash-poor.