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If we had done this years ago my husband and I would have had
an easier life more prosperous life!
- Don't have pets. Bank that money instead just as if you did have them.
On what you could afford them.
- And save gifted money. All money found, or given to you.
~ We had pets. Half the time more than one.
When I was 40 after our last pet. We decided not to have any more.
So I thought I'd sit down and add up all the expense of supporting pets for 20 years.
And I was sick to my stomach when their total of support
came to the amount of our home being paid off at age of 40!
Food, toys, vets, drugs, kennels, replaced personal articles, home repairs, yard repairs, get out of jail bill, more expensive vacation taking pets on vacation with us. (they had a great time).
~ When I think of all the money I either found, or that was gifted to me.
Or unexpected money I received back.
I Have Wasted A Lot Of Money!
And that waste in fact made my life harder as life went on...
I keep careful records and just figured totals for 2012 My dog cost me $50/mo average this past year. I've had him for almost 10 years at that is pretty much the average for that time. For that roughly $1.50 per day someone:
who has always been there to welcome me home,
who is always willing to go for a walk-he never ever says "I just have too much to do, I can't go today",
who sleeps by my head when I have a migraine, and almost seems to know when it it better before Ido,
Who livens the evening up with a good game of fetch
who livens the mornings up with a good game of steal the sock, or anything else he could get his paws on.
I could go on and on, but the bottom line is I think he is the bargin of a lifetime, where else can you buy unconditional love like that.
Here's the system I use: i assign everything i spend money on a value 1 to 10. 10 is for things that mean life or death (i.e. food). 1 is a pure want that brings little improvement in my life. Here's how i assign values -
Basic housing: 9
Fancy housing: 2
Medication for life threatening condition: 10
Basic car: 8
Internet: 8
Furniture besides a bed: 4
Health insurance: 9
Cable tv: 1
Coffee not made at home: 1
New clothes: 2
College education: 6
Investments: 8
Organic food: 5
Vacations: 5
Heat/ac expenses: 7
When your busget is tight, cut items with the lowest point values.
I disagree with the OP. The first rule is to be smart with your money.
I buy my husband Brooks Brothers suits. They are much better cut and of much better fabric than off the rack at a low end department store. If you work in management level or for a luxury company (my husband meets both those qualifiers) then your career will go much further if you dress the part. That doesn't mean a "Suit In a Bag" or something off the rack at Wal-Mart. It means a well tailored suit and better accessories. (Shirt, tie, cuff links, etc.)
If he didn't "dress for success" he'd be making 30% less than he does, and his salary far exceeds the cost of a suit.
Additionally we've found that they wear about 50% longer than ones we've bought at Macy's, so in effect they might cost more initially, but amortized they cost the same or less as from moderate department stores.
If you work in a blue collar environment and only need one suit to wear to weddings and funerals, off the rack from Penney's or Macy's will be adequate.
I also think that anyone who never allows themselves a small indulgence now and then should seek professional help for their hoarding disorder. Hoarding money is no different than hoarding animals, pizza boxes, or string.
Here's the system I use: i assign everything i spend money on a value 1 to 10. 10 is for things that mean life or death (i.e. food). 1 is a pure want that brings little improvement in my life. Here's how i assign values -
Basic housing: 9
Fancy housing: 2
Medication for life threatening condition: 10
Basic car: 8
Internet: 8
Furniture besides a bed: 4
Health insurance: 9
Cable tv: 1
Coffee not made at home: 1
New clothes: 2
College education: 6
Investments: 8
Organic food: 5
Vacations: 5
Heat/ac expenses: 7
When your busget is tight, cut items with the lowest point values.
Great way of looking at it. I would disagree that you also need a chair and some sort of small table which can be your place to eat, desk, and worktable all in one. In my opinion I need that more than a bed. I can sleep on an air mattress if push comes to shove.
If we had done this years ago my husband and I would have had
an easier life more prosperous life!
- Don't have pets. Bank that money instead just as if you did have them.
On what you could afford them.
- And save gifted money. All money found, or given to you.
~ We had pets. Half the time more than one.
When I was 40 after our last pet. We decided not to have any more.
So I thought I'd sit down and add up all the expense of supporting pets for 20 years.
And I was sick to my stomach when their total of support
came to the amount of our home being paid off at age of 40!
Food, toys, vets, drugs, kennels, replaced personal articles, home repairs, yard repairs, get out of jail bill, more expensive vacation taking pets on vacation with us. (they had a great time).
God, I hope that you and your husband didn't procreate. I can imagine you sitting around and trying to determine how much your child(ren) cost you over the years and whether they were worth it.
BTW, studies have shown that pet owners on average live longer, healthier, and happier lives than those who don't have pets. Try putting that into your spreadsheet.
It's all about marginal utility and the opportunity cost you lose when you spend money on something. Just make sure the utility exceeds the dollar amount spent.
Sometimes, the $5 latte at Starbucks is worth the 30 minutes of peace and quiet the car rental manager gets away from his office.
Sometimes, the apps are worth the $700+ it takes to buy an iPad. Not likely, but it is at least in theory possible.
Sometimes, buying a new car and taking a hit on the depreciation is worth not having to screw with the car when it breaks.
It's all personal preference - but the key here is to avoid giving into peer pressure, keeping up with the Joneses, or marketing.
The latter is especially true of Apple products - they have done a brilliant job of convincing the world that owning an Apple product is "cool". Which is why they charge a 400% price premium for all their products - and can get away with it.
The latter is especially true of Apple products - they have done a brilliant job of convincing the world that owning an Apple product is "cool". Which is why they charge a 400% price premium for all their products - and can get away with it.
Which product do they charge a 400% premium on? It's not the iPhone....
I keep careful records and just figured totals for 2012 My dog cost me $50/mo average this past year. I've had him for almost 10 years at that is pretty much the average for that time. For that roughly $1.50 per day someone:
who has always been there to welcome me home,
who is always willing to go for a walk-he never ever says "I just have too much to do, I can't go today",
who sleeps by my head when I have a migraine, and almost seems to know when it it better before Ido,
Who livens the evening up with a good game of fetch
who livens the mornings up with a good game of steal the sock, or anything else he could get his paws on.
I could go on and on, but the bottom line is I think he is the bargin of a lifetime, where else can you buy unconditional love like that.
I do not know if this is the FIRST RULE of Frugal/Economic Living, but it is a rule I learned the hard way.
DO NOT PAY FOR ANYTHING THAT YOU DO NOT ABSOLUTELY NEED
I learned this the hard way because I had an Ex-Wife who thought that she was entitled to have anything she wanted. She would get a Credit card and have it maxed out in a month with nothing to show for it (Trinkets, knick-knacks, clothes, eating out) As well as keeping the bank account at ZERO by Payday. If there was 5 dollars in the bank account, she would go out and spend an hour looking for something that cost $5 just because it was there.
And what she got was unneccesary (kind of like her)
I have narrowed down lists of things I need and Things I want.
For example, NEED is groceries for meals, WANT is artichokes and asparagus.
Need is clothes for work want is a brooks bros suit
Too often, people get into the habit of saying "Oh I have a coupe of bucks in my pocket, let me buy that"
It is ok to treat oneself now and then, but I prefer to say "Here I have a couple of extra bucks, let me put that in the savings can"
I try to purchase ONLY what I need, as fr as junk around the house goes, that seems to be very little, as I have much I can recycle and reuse instead.
money is not only for paying bills, it is for security and enjoying as much of the things and luxuries as one can afford.
live each day as if it is your last but invest and save like you will be 105.
we have 3 kids all married with spouses and we look forward to nothing more then seeing one pair every other week and taking them to dinner.
every 2 months or so we take all 6 out.
im sure to you that is throwing away money but certainly not to us.
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