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For some reason I find it sad when a person of means drives a beater, saving all his money for his kids while denying himself some pleasure in life. Now I don't know your Director's story, but it would be even worse if he never spent any of his money on other pleasures and died with an enormous amount of wealth left behind with no one to bequeath it. I hope he's enjoying his money elsewhere. Never impressed by those type of examples.
Some people are interested in new cars. Others are interested in freedom. Why would anyone fault someone else for doing what they want to do with their money and time. Most middle class millionaires are seeking freedom and not status symbols. I would bet that a pickup truck or some mild mannered car is the thing that these people would drive, and keep that people mover in the family for as long as they can.
As an example, another Director with an income just under $180,000 could afford her dream Mercedes. She told us she liked the car but liked traveling even better. Her and her husband would rather have some fun visiting exciting places then putting that money into exciting cars. Memories last for ever, cars don't. Her husband is also making over $100,000 so they do alright.
I like a nice car and all. For me though I prefer much older rides or two wheeled rides. You can't lose to much money on a 50 year old classic car. Chances are you can ride it for a few years and sell it for what you have into it. I don't see that happening with a new car or truck.
Oh wow, you got me. My house has a $250 water heater that will propably last 10-15 years. Oh woe is me at all the money I'm losing because I "financed" it.
What's funny though is how you guys are desperately grabbing at straws just to try and win the argument, when I never said I had never financed anything lol.
But how about those hot and cold water knobs in the bathtub... Money down the drain I tell you. Such loss. So misery lol.
There was no straws, you declared your intellectual superiority as a result of not financing depericating objects and I was just reminding you that rarely is there a situation where one doesn't finance an appliance of some sort.
But then instead of adjusting your viewpoint, you come back with some minutiae about sink knobs.
Unlike cars, boats, of any sort will bleed you dry in upkeep. Serious, anyone who thinks they are making any sort of financial sense would never buy any sort of boat.
Now I understand boat buying, just like I understand car buying, it's a leisurely activity, and I understand the issues with buying a 30,000 car when you make just $40,000. But for someone who doesn't buy into status you sure are big on talking about your salary, your vacations, and your stuff.
But e-go aside (cause we are online, i.e. E-commerce, but talking about egos, it's s play on words, try and keep up), we are all free to make our own decisions on what we spend our money on. As long as someone isn't going to destroy themselves with debt, then why be black and white?
Personal finance certainly isn't black and white. Sure Dave Ramsey would decry tapping the old 401(k) to pay off credit car debt, but in some cases the numbers actually show that it's better to take the penalties and pay the debt off than it is to keep chipping away at it, but the forum won't say they and neither will Dave.
Money is easy, emotions are the issue and that's why people black and white finance, and cost themselves considerable waste.
And back to the water heater, you are right it'll last 10-15 years and per unit of use you won't care about the deperication, same goes for cars. I don't care about a car taking a 20% hit off the lot, or 40% hit in five years, because I'm getting utility out of that car, I'm utilizing the most reliable years that'll keep me from wasting time broken down or waiting for work to be done (time is money, but I can always get more money, more time, that's not always an option), I'm taking advantage of cutting edge safety features (I wouldn't touch your 15 year old car, things have changed so much since 2001), and in exchange for that I pay roughly 50¢ a mile to operate my cars, deperication is part of that cost, but only about 1/3 of it.
Anyways, back to work, and think about what I said, I'm not typing here to pound chests, I'm here to be grey.
easy to say and act out like the humble down to earth guy, when you have that income and those cars in your driveway. Many millionaries do the same, drive pos cars to pretend they are humble
Has nothing to do with "pretending to be humble", some people just don't constantly have to be putting on airs. While it is nice to have those things, confidence in yourself should not come from material things, but something deep inside you.
I've worked side by side with a lot of multi millionaires, and most of them could care less about displaying to the world their accomplishments. One man, in particular, owned a major manufacturing company and he drove an old Ford Ranchero daily. Our customers kept wanting to sell him their Rolls Royces and he just laughed and said "Why would I want one of those ?"
Some people just love cars. There are rich people who love them and rich people who hate them. When people say rich people like driving beat up cars to hide their money stuff. They are only talking about rich people who don't care about cars at all. It's not because they are rich, it's because they don't give a damn about a car. Jay Leno, Jerry Seinfeld, Michael Jordan etc complete opposite and are all filthy rich.
We've got a 2004 Cavalier 3 door 2.2 Ecotec/5 speed. Car's pretty zippy, no plans of getting rid of it.
My daily driver's a 1991 Chevy S10 Blazer and my high school age son's daily is an '85 VW Jetta. Wouldn't change a thing.
I read the 5 speed manual cavalier is actually pretty decent, but the automatic is very underpowered. I have the automatic and it is slow when compared to newer cars. The only way to make this car faster is to add a supercharger.
Why do you want so much money on hand if you don't want to spend it? Just to have it? Spend it only when you're too old to enjoy it? I watched family members do that and die before ever getting to enjoy what they "saved and invested. (hoarded). Nope. Not for me. You're the embodiment of the love of money. For me, money is only a means to an end, not the end, itself. So save and invest and hoard and "have it" and hope you don't have a heart attack or cancer and die before you get to spend any of it on yourself.
Funny how I've been able to finance cars and not drive POS beaters without affecting my house or retirement savings. I enjoy cars, and they are not merely A-B appliances.
Spot on. This guy knows what's up. Also, his username gives him away BMW "E38".
This gentleman appreciates the finer things in life
Some people just love cars. There are rich people who love them and rich people who hate them. When people say rich people like driving beat up cars to hide their money stuff. They are only talking about rich people who don't care about cars at all. It's not because they are rich, it's because they don't give a damn about a car. Jay Leno, Jerry Seinfeld, Michael Jordan etc complete opposite and are all filthy rich.
legit
The sheep love the stories of heroes of our times, who despite having millions and millions, live below their means, driving pos cars, and donate money to the poor. They hate the rich people who flaunt their money, by buying expensive cars, houses, luxurious lifestyles, posting pictures on facebook, instagram. They dislike them, because deep down, they are envious of them.
The fake humble millionaire is easier to accept and swallow since he doesn't flaunt it, when in reality, he is much, if not more of a crook and cunning than those flamboyant rich people.
Deep down, the average fella realizes and knows how dependent on money this society is, and how extremely difficult it is to obtain riches. They will look down on the humans who flaunt their riches because is something they desire too.
There was no straws, you declared your intellectual superiority as a result of not financing depericating objects and I was just reminding you that rarely is there a situation where one doesn't finance an appliance of some sort.
You're putting words in my mouth. I never once said financing a car was the end all, be all of wrong doing. In fact, for most people its their only option... they need transportation, they don't have the cash on hand to pay for it outright, so what's left? Financing. I also didn't say that I had never financed a car before now, did I?
I was specifically referring to the OP though... Apparently she has reliable transportation already, but because it's "old" and she can't afford a newer one at this point in time, her ego can't take it.
I can't help but feel a little embarrassed when driving my current vehicle. I guess over time you get used to it, but that feeling of envy and wanting something better never goes away.
Financing a car because you NEED one is one thing. Financing a car to feed your ego is another all together, and that's where I declare my intellectual superiority.
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Unlike cars, boats, of any sort will bleed you dry in upkeep
Good thing I'm paying cash for it then, huh.
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But then instead of adjusting your viewpoint, you come back with some minutiae about sink knobs.
You have to admit that was funny though, right? Damn you sink knob depreciation!
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