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Old 07-21-2011, 11:03 PM
 
Location: Tampa, FL
181 posts, read 271,613 times
Reputation: 101

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Instead of just bashing or feeling pity for those that don't have a savings account why not make an arguement for how holding onto money is better than spending it?

(this evolved from a thread in Politics & Controversies... that 50% of American's couldn't come up with 2 grand in 30 days & I couldn't believe the overwhelming comments about people being stupid, priorities backwards, low-class, etc..)

I believe money is meant to be spent. I personally choose travel over savings - so why is that so bad?

My arguement for spending:

1.)Experiences enhances your life more than a savings account. Say, me & DH choose a karate class over a retirement fund... learning something new together, physical fitness and the bond is well worth it to us. A trip to Italy instead of a 2 grand nest egg... the experience is worth it a hundred fold (to me).

2.)We (Americans) are optimists- and we trust ourselves and our problem solving skills.

3.)Our culture is changing and people are clinging onto past ideas of responsibility. What about exposing you and yours to new cultures (spanish lessons for the kids) isn't that responsible? Just a different kind of responsible...think of the opportunities and the open=mindedness and different ways of thinking, the better grades in school due to learning a second language... how is that irresponsible?

4.)I just don't get the pity - or the bashing - plain and simple it's a choice based on your value system. Just because you don't have the value of security DOES NOT mean your a second class citizen.
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Old 07-21-2011, 11:10 PM
 
5,547 posts, read 8,290,915 times
Reputation: 2757
Interesting thread. I look forward to the replies.

What will you do, however, if you end up on the streets with all that acquired knowledge and skills and no roof over your head?
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Old 07-21-2011, 11:11 PM
 
69,372 posts, read 53,599,519 times
Reputation: 9357
You errored right on your very first sentence. Holding onto money, isnt better than spending it. INVESTING that money IS...

You like to travel, great, so do I.. I can tell you first hand that the $6,000 vacations I have been on, have been much more enjoyable knowing that when I come home, those trips are paid for, and I wont need to return to work to cover the debt created.

The vast majority of americans ARE stupid. They have no problem at all spending $30,000 for a $20,000 car, because they borrow the money to buy it, rather than saving up for one. You think its better to spend $30,000 on a car because you pay money to the banks, or do you think its better to only spend $20,000 on that very same car because you saved for it?

Thats why savings and investing is so important, so YOU can pay YOU, and not a banker!!
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Old 07-21-2011, 11:13 PM
 
11,427 posts, read 19,438,504 times
Reputation: 18124
Let me answer your question with a question. Why can't you save and spend money on experiences?

Why is it always black and white, yes or no, good or evil? It's foolish to spend all your money and not save anything, but it's just as foolish to save all your money and never do anything.

It's called balance. You really honestly and truthfully can fill your life with fun and material things AND save money at the same time.

Like Steven Wright once said -- you can't have everything, where would you put it?
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Old 07-21-2011, 11:14 PM
 
Location: San Francisco, CA
12,826 posts, read 10,199,673 times
Reputation: 11470
Quote:
Originally Posted by CMor2Day View Post
Instead of just bashing or feeling pity for those that don't have a savings account why not make an arguement for how holding onto money is better than spending it?
The people most in need of that argument are the ones with the least mental capacity and/or discipline to actually comprehend it.

Quote:
Originally Posted by CMor2Day View Post
I believe money is meant to be spent. I personally choose travel over savings - so why is that so bad?

I just don't get the pity - or the bashing - plain and simple it's a choice based on your value system. Just because you don't have the value of security DOES NOT mean your a second class citizen.
That would be fine - if your value system also involved suffering the consequences alone when your bus goes off the road at the first hitch and not dragging me and my pocketbook into it. Then I honestly wouldn't care less what you do with your spending habits. But that doesn't seem to be how this really works, does it?

As the last few years have clearly shown, when enough people take your thinking as far as they can and spend a lot more than they have on stupid crap they don't need, then it ruins the party for everyone and responsible people like me end up having to effectively bail you out. That's when I start having a problem with your actions.

Last edited by ambient; 07-21-2011 at 11:41 PM..
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Old 07-21-2011, 11:15 PM
 
24,511 posts, read 34,122,907 times
Reputation: 12779
Quote:
Originally Posted by pghquest View Post
You errored right on your very first sentence. Holding onto money, isnt better than spending it. INVESTING that money IS...

You like to travel, great, so do I.. I can tell you first hand that the $6,000 vacations I have been on, have been much more enjoyable knowing that when I come home, those trips are paid for, and I wont need to return to work to cover the debt created.

The vast majority of americans ARE stupid. They have no problem at all spending $30,000 for a $20,000 car, because they borrow the money to buy it, rather than saving up for one. You think its better to spend $30,000 on a car because you pay money to the banks, or do you think its better to only spend $20,000 on that very same car because you saved for it?

Thats why savings and investing is so important, so YOU can pay YOU, and not a banker!!
The OP doesn't really mention carrying debt and/or equate that to spending money.
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Old 07-21-2011, 11:18 PM
 
69,372 posts, read 53,599,519 times
Reputation: 9357
Quote:
Originally Posted by NJBest View Post
The OP doesn't really mention carrying debt and/or equate that to spending money.
When you buy a car its either with savings, or with debt, and since the OP clearly said they dont see the purpose in savings, how are they buying a car?

Is there an alternative that I'm unaware of? Maybe they support boosting cars when its needed, but I doubt it.

Last edited by pghquest; 07-21-2011 at 11:26 PM..
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Old 07-21-2011, 11:32 PM
 
5,473 posts, read 8,162,916 times
Reputation: 7284
Quote:
Originally Posted by CMor2Day View Post
Instead of just bashing or feeling pity for those that don't have a savings account why not make an arguement for how holding onto money is better than spending it?

(this evolved from a thread in Politics & Controversies... that 50% of American's couldn't come up with 2 grand in 30 days & I couldn't believe the overwhelming comments about people being stupid, priorities backwards, low-class, etc..)

I believe money is meant to be spent. I personally choose travel over savings - so why is that so bad?

My arguement for spending:

1.)Experiences enhances your life more than a savings account. Say, me & DH choose a karate class over a retirement fund... learning something new together, physical fitness and the bond is well worth it to us. A trip to Italy instead of a 2 grand nest egg... the experience is worth it a hundred fold (to me).

2.)We (Americans) are optimists- and we trust ourselves and our problem solving skills.

3.)Our culture is changing and people are clinging onto past ideas of responsibility. What about exposing you and yours to new cultures (spanish lessons for the kids) isn't that responsible? Just a different kind of responsible...think of the opportunities and the open=mindedness and different ways of thinking, the better grades in school due to learning a second language... how is that irresponsible?

4.)I just don't get the pity - or the bashing - plain and simple it's a choice based on your value system. Just because you don't have the value of security DOES NOT mean your a second class citizen.

Because it's not really about that.

People just don't have the discipline to do so or the willingness for self-denial.


Few people are going to deny that having money for emergencies, and retirement, and things you want is a bad thing.

They just don't want to do the self denial necessary
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Old 07-21-2011, 11:56 PM
 
24,511 posts, read 34,122,907 times
Reputation: 12779
Quote:
Originally Posted by pghquest View Post
When you buy a car its either with savings, or with debt, and since the OP clearly said they dont see the purpose in savings, how are they buying a car?

Is there an alternative that I'm unaware of? Maybe they support boosting cars when its needed, but I doubt it.
I'm pretty sure the OP is talking about long term savings and saving for the purpose of spending (such as for the purchase of a car) is still considered spending.
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Old 07-22-2011, 12:04 AM
 
Location: Conejo Valley, CA
12,476 posts, read 16,969,159 times
Reputation: 4304
Quote:
Originally Posted by CMor2Day View Post
1.)Experiences enhances your life more than a savings account. Say, me & DH choose a karate class over a retirement fund... learning something new together, physical fitness and the bond is well worth it to us. A trip to Italy instead of a 2 grand nest egg... the experience is worth it a hundred fold (to me).
This is the key issue that you folks don't understand, its not about having a savings account. To you, savings just means piling money into some account and not spending it. But this isn't what "savers" are doing with their money, they are investing it and therefore their savings increases their income over time. They will have more money to spend, go on vocations with, etc than you will.

Anyhow, when you first start "saving" it will reduce your current standard of living and this is probably why so few people do it, but after a few years the reduction will reverse and your standard of living will start to increase. Basically, a non-saver starts the first 1/10th of the race ahead but then progressively gets more and more behind the other 9/10 of the race.

But I don't bash non-savers, you folks make it easier to make more and more money.
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