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Old 08-28-2018, 07:28 AM
 
27 posts, read 7,316 times
Reputation: 33

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Quote:
Originally Posted by 49erfan916 View Post
Meaning that the more money a person makes, the more money they will spend on useless stuff.

https://www.investopedia.com/terms/l...tyle-creep.asp


I have never made so much money at a job as i do right now. And i never had as many assets as i do now. But my expenses have decreased drastically. I dont desire the big house on the hill or that porshe. But i want to set up my future by sacrificing today's pleasures.
Nice quote and very well said
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Old 08-28-2018, 09:34 PM
 
11,425 posts, read 19,433,663 times
Reputation: 18124
Quote:
Originally Posted by JonathanLB View Post
Have you been to Las Vegas? First the desert is beautiful, second itís very green in almost every neighborhood with trees and parks everywhere especially in Summerlin. I donít think most people realize these communities are very green and full of beauty. I personally donít care about grass everywhere - which is ugly and mediocre - or stupid looking fir trees where I live presently. It doesnít do anything for me. ANY place where it rains often is devoid of beauty if you ask me because rain is ugly and humiliating.

I donít want to live anywhere where it snows or rains often, I want sun and summer like weather most or all of he year. Anything less than that, no dice. And GA is too far away for me, I need to be closer to LA for business. I just had a few relatives move to GA, they really enjoy it, and Iím sure itís great for many people but it wouldnít be the right culture for me. Iím a West Coast guy but one who wants to avoid the actual coastal states LOL too liberal
Rain is humiliating? Does that mean snow is snarky?
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Old 08-29-2018, 04:56 AM
 
27 posts, read 7,316 times
Reputation: 33
Good answer
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Old 08-29-2018, 05:37 AM
Status: "I am in preparation mode!" (set 4 days ago)
 
5,514 posts, read 5,494,602 times
Reputation: 4210
Quote:
Originally Posted by 49erfan916 View Post
Meaning that the more money a person makes, the more money they will spend on useless stuff.

https://www.investopedia.com/terms/l...tyle-creep.asp


I have never made so much money at a job as i do right now. And i never had as many assets as i do now. But my expenses have decreased drastically. I dont desire the big house on the hill or that porshe. But i want to set up my future by sacrificing today's pleasures.
Congratulations! I was able to save by staying put. Housing makes a difference. I brought my breakfast and lunch to work. I do not have a car note. I was a conscientious spender. I bought a couple of high ticket items and traveled a bit but I am not much of a everyday shopper.

Set a budget and adjust as you go. It is not necessary to be perfect but you have to be mindful. Money gets away from you when you are not looking. Good luck!
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Old 08-29-2018, 06:11 AM
Status: "I cannot wait for the heat to break..." (set 3 days ago)
 
Location: Where the sun likes to shine!!
20,368 posts, read 25,483,948 times
Reputation: 87958
Quote:
Originally Posted by goodlife36 View Post
Congratulations! I was able to save by staying put. Housing makes a difference. I brought my breakfast and lunch to work. I do not have a car note. I was a conscientious spender. I bought a couple of high ticket items and traveled a bit but I am not much of a everyday shopper.

Set a budget and adjust as you go. It is not necessary to be perfect but you have to be mindful. Money gets away from you when you are not looking. Good luck!

Good advice.
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Old 08-29-2018, 03:49 PM
 
11,425 posts, read 19,433,663 times
Reputation: 18124
Quote:
Originally Posted by goodlife36 View Post
Congratulations! I was able to save by staying put. Housing makes a difference. I brought my breakfast and lunch to work. I do not have a car note. I was a conscientious spender. I bought a couple of high ticket items and traveled a bit but I am not much of a everyday shopper.

Set a budget and adjust as you go. It is not necessary to be perfect but you have to be mindful. Money gets away from you when you are not looking. Good luck!
Housing made a great deal of difference for us. We bought what we could afford, in 1987. We thought the area would get much better. It didnít, for a very long time. So, even though we experienced gains, the gains were never enough to be able to buy up in a better area.

While that sounds sad, the thing is, we bought what we could afford in 1987, so our mortgage was a whopping 600 bucks. Weíve refiíed a couple of times, rolled a HELOC that paid for a much needed modest kitchen and bath remodel and both times we got plain old vanilla adjustable rate mortgages, and rode the indexes down, so now our payment is $365. And, because we plop a little extra onto the principal payment, at this point, even when the index goes up, they recalculate the payment on the balance owed and the payment still goes down, a little bit.

And our income has gone up. Allowing us to stuff a lot of money into our retirement/investment/cash accounts.

Have we experienced lifestyle creep? Yeah, a little. And a little is okay. Really.
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Old 08-29-2018, 07:19 PM
 
Location: The World
3,012 posts, read 1,809,321 times
Reputation: 7773
Quote:
Originally Posted by aslowdodge View Post
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.
Yeah...I live a little over an hour from the beach, and we usually only visit maybe twice a year. I just realized today that it's about to be Labor Day weekend, and we haven't been to the beach ONCE this year. LOL!


Quote:
Originally Posted by Tallysmom View Post
Housing made a great deal of difference for us. We bought what we could afford, in 1987. We thought the area would get much better. It didnít, for a very long time. So, even though we experienced gains, the gains were never enough to be able to buy up in a better area.

While that sounds sad, the thing is, we bought what we could afford in 1987, so our mortgage was a whopping 600 bucks. Weíve refiíed a couple of times, rolled a HELOC that paid for a much needed modest kitchen and bath remodel and both times we got plain old vanilla adjustable rate mortgages, and rode the indexes down, so now our payment is $365. And, because we plop a little extra onto the principal payment, at this point, even when the index goes up, they recalculate the payment on the balance owed and the payment still goes down, a little bit.

And our income has gone up. Allowing us to stuff a lot of money into our retirement/investment/cash accounts.

Have we experienced lifestyle creep? Yeah, a little. And a little is okay. Really.
This was/is so smart, really. My grandparents' story is pretty much the same. Now, they have a paid-for home that has been kept up well over the years and renovated a few times, and their mortgage was always low enough that they could save up enough to both retire early.
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Old 08-29-2018, 08:02 PM
 
2,797 posts, read 2,511,845 times
Reputation: 6165
By not buying into the 'Salesperson' (and 'Financing/ financier' in big purchase items) lie of getting the most you can *afford* (by their terms) in a purchase:

bigger house (which you then are compelled to fill with stuff and which has larger baseline operating costs: utilities, property taxes, insurance, ongoing maintenance etc..)

More flashy auto (larger payments, insurance etc..),

Things which do something you can do yourself with a simpler product (example old style can opener vs. electric; there are lots of appliance type doodads like this that people fall for).

When you are purchasing always look at it as what is the lowest total cost of ownership. And yes, it can be hard for some items but usually higher priced items are reviewed and information can be found on them.

Sometimes the more expensive item is worth it (be strategic and an informed consumer) when it is a necessity or something you know has great utility value (top quality, long lasting classic style) - as long as you don't get 'upgrade' lust to have the next best thing.

Be wise in not accumulating: an example: as you buy articles of clothing, get rid of the oldest / least used from your inventory.Clothing is a good example of where you can set an inventory of items by type and then hold to it with discipline. Buy new - pitch / sell / donate the old.

It does take discipline. Sometimes when I go shopping I collect items I *think* I want to purchase and then before checkout / payment ask myself again objectively, "Why do I need this item?" It generally helps you weed out the buying of needless / underused items.

Another aspect is understanding the sales or merchandising process for the type of item you are intending to purchase and study it for a brief time to understand when the best deals may be found. In retail, certain seasonality sales cycles occur, which can save a wise shopper significant money by knowing the best time to do so (especially large ticket items).
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Old 09-01-2018, 07:04 AM
 
247 posts, read 100,240 times
Reputation: 540
Quote:
Originally Posted by ylisa7 View Post

Quoting Oramasfella: "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 like rice and beans and shopping thrift stores I actually think Goodwill is expensive. No matter what I make I am just not programmed to spend a lot. I tell my husband that people start out shopping at Walmart, they get a raise and go to Target to spend more for the same items, then they get another raise and feel they need to shop at Macy's and I just don't understand that mentality.
In a way, I understand that mentality: it's all socially programming. We are socially conditioned to act that way. So many people have done it for so long that we end up thinking that "it is what one does; it's how things are supposed to be." Of course, some of us happen not to fall prey to those social constructs, and we actually have no problem with living in a modest home (with just the necessary number of rooms and with no pool) or using a 40-dollar smart phone (or God forbid...a *GASP* flip phone!) or eating rice and beans or not traveling to Europe every year. Of course, many people will look at us with pity and feel sad about us, thinking that we are "missing out." Me, I am incredibly happy knowng that I have a great life that I enjoy, I have excellent health (partly because I don't rely on a car for everything, and walking everywhere has helped me manage my weight and my cardiovascular health successfully), savings for my old age, no debt, and no added stress related to owning stuff that will end up owning me eventually.
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Old 09-02-2018, 07:36 AM
 
4,313 posts, read 5,265,036 times
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I think both of you mistake other peopleís lifestyle choices with a judgment of yours. I donít know or care what percentage of people like swimming - I just know I love it and donít intend to live in another house without a pool because pools make me happy and so does nice weather. As I seek happiness in life, I will choose to spend my abundant money on ways to maximize my happiness. I donít know why I should judge you or care if youíre happy with much less. I mean thatís fantastic! I want everyone to be happy, ideally, and it would be bizarre for me to judge other peopleís lives if they tell me theyíre happy. Thatís enough for me.

But my problem, or rather itís not a problem but my puzzlement I should say, is in being told by someone else that I ďshouldĒ be happy with whatever makes them happy. Sorry, no. For my lifestyle and my relationship happiness it is necessary to have a house large enough that I can watch TV at a fairly solid but not crazy volume after my GF goes to sleep. Thatís not going to happen in a small house. Itís completely 100% essential to my health and happiness that I have perfect control over the interior temperature of my home at all times and that my bedroom is pitch black and perfectly quiet against interior and exterior noise. Do I wish I could sleep in the by my standards pitiful conditions most people find normal? Sure, of course! Wouldnít that be nice, and it would be so cheap too! But I donít know how most people do it and Iím guessing itís sheer exhaustion - which cannot be healthy for you long term - because it should be basic first world living that your bedroom is quiet, dark, and cool when youíre trying to sleep.

If anything I certainly envy not pity people who can be happy with less, but for me I know the standards and quality of living I expect and sleep / a nice house are two big ones for me as Iím a home body and my home is my workplace, my hobby zone, and my hangout. Iím not a big travel dude even though Iíve traveled a lot, it just isnít my thing so I travel more because other people are obsessed with it. In all honesty itís not something that brings me basically any happiness whatsoever most of the time, so I could do without. Thatís personal preference. And despite my upbringing and money, Iím a simple guy when it comes to food too. I eat my cheap cereal every single day and I drink a big protein shake at the end of the day that my GF considers boring and gross. I am not bothered by it at all and itís just part of my healthy life. Plus, I happen to prefer less expensive food - BBQ over seafood, donít like caviar, donít like most fancy restaurants.

The point is we all have our unique preferences and it happens I am super frugal with clothes and barely ever buy them, and with food, and with travel... but I love a luxurious, expensive, and large house. Because literally LIFE happens in that house where I spend 90% of my time. It seems almost baffling that I wouldnít want my house to be great considering thatís where I am always!
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