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Old 08-24-2018, 08:47 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,114 posts, read 3,407,695 times
Reputation: 5648

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Quote:
Originally Posted by Oramasfella View Post
This is exactly the kind of attitude that has people living beyond their means and making absurdly unrealistic decisions once they get a raise or a better position at work. Some people actually enjoy living in a studio apartment in a so-called ghetto (as you probably call any area of town that is not fancy and gentrified) and eating rice and beans. Some people don't care about spending money on traveling, and some people actually think that having a modest life is not "missing out" on whatever it is that people supposedly miss out on when they don't waste their money on pointless luxuries that society tells us are "essential."
I don't think they were implying that you spend every extra penny you make, but still there's nothing wrong with a few nice things when you make jumps financially.
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Old 08-24-2018, 08:59 AM
 
5,607 posts, read 4,163,577 times
Reputation: 12348
Quote:
Originally Posted by aslowdodge View Post
I don't think they were implying that you spend every extra penny you make, but still there's nothing wrong with a few nice things when you make jumps financially.
Or when your expenses decrease. Once the kids were off the payroll, we added a cleaning service. We both still work full time and hated spending any of our free time on scrubbing toilets. We also added travel, not something we could afford much of while raising 2 kids, paying off a home and saving for retirement. Sure, we could save the money we spend on travel, but we already save plenty so no guilt.
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Old 08-24-2018, 10:23 AM
 
Location: Mid-Atlantic
22,725 posts, read 21,779,470 times
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Quote:
Originally Posted by CaptainNJ View Post
i have always heard this stuff about calling everything between the east and west coast "flyover country" and pretending it is worse there. i believe the opposite. people just get it in their heads that the coasts are so fabulous but there are a lot of places in the middle that offer high quality of life and often at substantially lower costs.
Sure, but there's no ocean.
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Old 08-24-2018, 12:14 PM
 
Location: NJ
22,697 posts, read 28,583,687 times
Reputation: 14635
Quote:
Originally Posted by Gerania View Post
Sure, but there's no ocean.
that means less hurricanes.
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Old 08-24-2018, 12:26 PM
 
Location: Gilbert, AZ
3,003 posts, read 1,698,864 times
Reputation: 2945
Quote:
Originally Posted by 49erfan916 View Post
Especially if you have a mortgage where the first 15 years of it is mostly interest. You may have made 100k in payments but your principal only went down 50k.
Yes, there is that aspect.

Harder to quantify, though, are the maintenance and remodeling costs. Some are easy to predict, like painting the exterior or replacing the carpeting. In addition, there are the things that occur less frequently but will eventually hit... replace the roof, appliances, HVAC; remove dying trees/bushes, replace lawn irrigation system. Then there are the wildcard items like foundation problems, plumbing problems, termite damage, etc. Finally, if one owns the house long enough, updating the kitchen, bathrooms, flooring, and lighting becomes nearly an obligatory exercise. It all adds up to a lot of money.
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Old 08-24-2018, 12:29 PM
 
3,977 posts, read 1,601,299 times
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Quote:
Originally Posted by CaptainNJ View Post
i have always heard this stuff about calling everything between the east and west coast "flyover country" and pretending it is worse there. i believe the opposite. people just get it in their heads that the coasts are so fabulous but there are a lot of places in the middle that offer high quality of life and often at substantially lower costs.

It's true. No knock on either coast, but I enjoy life in my mid-sized Southern city. There's plenty to do and see, there's a good cultural life, and we have a well-regarded restaurant scene. Is it NY, LA, or SF? Well, no. But the truth of the matter is that many of high-end amenities in those places are inaccessible to all but the most wealthy.



For example, I live in a city with a restaurant that just won the Beard Award for best restaurant in America. Yes, I know that it's a highly subjective award that could be nitpicked to death. But when all the foodie magazines and websites line up and rave about this place, then it's a pretty good sign that it's a top restaurant. Now, if this place were located in a a major metro, good luck getting a reservation for Saturday night with the wife. Here? No problem.



I have a client from San Francisco. He comes to town about once a year for a planning conference. In the past couple of years, he has scheduled it for a Friday so that he can drive around at look at real estate. It started as a hobby of his. But over the past few months, he has started sending me links to specific properties and saying, "Hey, what do you think of this area? Or this area?"



The reason is a pretty simple one. He and his wife live in a three-bedroom townhouse in San Francisco. On the equity he'd get for the sale of their place there (Chiefly because real estate prices have gotten batsh*t crazy), he can get a house a good 2x the square footage here with enough equity left over to retire early.


The next visit in October, he's bringing his wife. She resisted coming for several years, but accompanied him on the last trip and was just shocked at how we didn't conform to the stereotypes of toothless backwoods hillbillies. She became a raving fan and, as Dave put it, is now beginning to spend her time on Zillow looking. So I'm going to take them to a college football game, take them to a couple of great restaurants, and give them the tour.
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Old 08-24-2018, 12:43 PM
 
Location: In the outlet by the lightswitch
1,527 posts, read 903,702 times
Reputation: 2708
I "pay myself first," meaning I save money as if it were a bill and it's the first bill I pay. After I've saved what I want, I then made the rest of my life (budget) fit around that. As I get pay increases, I also increase what I save.
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Old 08-24-2018, 03:31 PM
 
4,336 posts, read 5,277,329 times
Reputation: 4252
Quote:
Originally Posted by MinivanDriver View Post
You know, every time I read one of your posts, I think to myself, "Wow, this guy can't be real." In truth, there amazing places all over the country, not just the coasts.
Iím sure there are. You donít have to convince me, weíre talking about markets decided by supply and demand. I didnít say there arenít nice places, only that theyíre not desirable enough to push prices up that fast in most cases. Iím not a liberal so the very coastal states arenít always appealing to me, either. I am just speaking from a market perspective that, say, a lot of Midwest cities arenít desirable places to live for most people. As much as I donít like liberal CA, Iíd still rather be there than anywhere in the Midwest.
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Old 08-25-2018, 08:01 AM
 
Location: North West Arkansas (zone 6b)
2,486 posts, read 1,713,158 times
Reputation: 3271
I direct roughly half of my paycheck to several accounts for various purposes. I don't spend what I don't see in the account where the remainder of my check winds up.
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Old 08-25-2018, 08:44 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,114 posts, read 3,407,695 times
Reputation: 5648
Quote:
Originally Posted by Gerania View Post
Sure, but there's no ocean.
Some people mention this like it's a deal breaker. If you are at the coast everyday or at least every weekend then I can see it. I lived in the San Francisco Bay Area for 50 years and went to the coast maybe once a year at best as a destination and drove to it on weekend drives not stopping maybe 3x a year.
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