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When I did a calculation comparing investing our extra $ vs putting it towards the 5% mortgage, the investment only needs to have a return of 3.5% to be equivalent to paying down the mortgage.
When I did a calculation comparing investing our extra $ vs putting it towards the 5% mortgage, the investment only needs to have a return of 3.5% to be equivalent to paying down the mortgage.
I would be interested to see that math...
I can only assume you make enough to take a itemized deduction, and write off the interest.
Still, as I said... If that's to break even, How much your sure of making vs risk...
Good post. Going to the movies is quite expensive & a total ripoff unless you go when its just a few bucks. The price of food at the concession stand discusts me. UGH!!!!!
Whether or not it is a "rip-off" is relative. As with anything else, if one feels they got a good return for the price paid (on anything) then they probably do not feel ripped off. Depends on the individual.
We rarely go see movies in the theaters anymore, although it has more to do with there always being some idiot yapping, or texting away on the cel phone, etc. that annoys the crap out of me. Sitting in our media room solves that problem.
On those rare occasions when we do go to a theater, we actually spend more to go to a small boutique theater located inside an uptown club (where you can bring in your drinks from the bar ). But to me, its worth spending a bit more to see a movie in a place where the slightly higher price tends to keep out the riff-raff. I get a lot of added value from sitting in a theater with other, professional and courteous patrons than I do being subjected to rude and inconsiderate jerks.
The question being how one feels about being frugal? (I know this is naughty) but I feel smug. Why? Here is an example. I do horse treks in Europe every couple of years. I research extensively and have discovered that the exact trip with the same outfitter will vary in cost depending on the agency promoting the trip. So I phoned the most expensive agency and asked them how they could charge DOUBLE for the same trip. They replied "we cater to a different clientel". I thanked them and thought to myself "a really stupid clientel". I think being frugal is intelligent as long as you don't become cheap.
I admit, I have always erred on the frugal side (well, with extravagances thrown in there for jewelry but I viewed it as an investment. I now see a lot of that was somewhat stupid) and I had a well paying job or quite a bit of money at the time.
Now my bills are so high and I don't have a job so I am forced into it. And I don't like being forced into anything. Every time I turn around something is going out at my house and maintenance must be done. It comes before a lot of things (well, most everything with insurance and utilities leading the list).
Oh sure, love my Wed taco days for $1 a piece and would no matter what my financial situation, but not so sure I'm enjoying it out of necessity. And I see no end in sight.
So I know this forum typically espouses the virtues of being frugal, and I agree, but does anyone just wish they had more money to really splurge once in a while? I mean, I had planned on seeing the world.
I, personally, don't know how anyone can justify it in this economy (major purchases unless necessary, vacations, etc) , yet I guess it's good they are spending the money as it's keeping things afloat, but I'd be saving up for the future if I could. Thoughts?
I, too, have spent money a little too freely before things changed. A lot of us have. And learning to tighten the budget has been an interesting adventure, although I wouldn't call myself frugal. One side of me is a real cheap bastard in that we've always done without certain things in order to spend freely have other things. I haven't been to a hairdresser since '72! I've never paid for cable other than the basic $10 one, never paid for membership to a health club ~ never even had a manicure.
So in a way I've enjoyed this budgeting experience, but it's getting old. Lots of things that need attention aren't getting it. I think living more frugal is a good thing to an extent. But if everybody was going to pinch pennies and do without then that wouldn't support our economy because we're not putting anything into it. If people avoid Joe Blow's new candy store because it's such an "extravagence", then Joe Blow can't make a living, either.
This thought just occurred to me, when replying to a question in the automotive forum. I think this sums up the philosophy of the frugal: If you wouldn't miss it, why pay for it?
How do I really feel about being frugal? As a chronically poor (or near-poor) person, I have a smug sense of superiority, as in: OMG you spendthrift bast***s, if I had your money I'd be wealthy and I could use that wealth constructively instead of blowing it on consumer junk.
I would honestly say I am a borderline cheapo, which I am not thrilled to admit. I have done away with cable TV, air conditioning, land line phones, and other things that many consider necessities. I tend to buy cloths at the thrift store, and have never driven a new vehicle. Oh, and I sleep on an air mattress, not a bed hehe.
I was not always this way... I spent the money as fast as I earned it when I was in my teens, and blew through quite a bit of my savings during college, but luckily I never had to take out a loan. Eventually I started working part time while in college, and came to develop an appreciation for the dollar. You see, I learned how hard I was actually working for my money, and I realized how a dollar saved is a dollar earned. This love affair with money caused me to cut back drastically on my expenses, and I built a nice saving account again living home with the parents. Buy the time I had enough of college, I was able to accept a job in Chicago without worrying about how I was going to pay for the transition.
Honestly, I am thankful for my frugal nature, as I have never had to worry about money. I never made over 35K in a year, but the amount I am able to put in the bank every month makes me wonder why so many people my age with jobs can't seem to get it together. I mean, I cook at home 7 days a week, eat tons of veggies/produce, never buy prepackaged food... I spend a little over $20 a week on food... I see my roommates grocery bill and it blows me away. Yes, I would not change my lifestyle or my frugal nature, as I am not starving nor unhappy. I am content, and that good enough for me!
One other observation... I believe happiness is relative. I mean, if you are used to all the luxuries of life, and all the sudden, you tried to live the way us frugal folks do, you would be unhappy. But if you've never tasted the "good" life and were content with what you have, than your level of happiness may not be all the different. Just a thought...
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). But to me, its worth spending a bit more to see a movie in a place where the slightly higher price tends to keep out the riff-raff. I get a lot of added value from sitting in a theater with other, professional and courteous patrons than I do being subjected to rude and inconsiderate jerks.
