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Old 06-16-2010, 08:34 AM
 
5,748 posts, read 10,504,424 times
Reputation: 4494

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Quote:
Originally Posted by pvande55 View Post
I heard about a lottery winner talking about how good Boone's Farm (one of the cheapest wines) tasted.
Is it cheaper than "Two-Buck Chuck?" Chuck really is good stuff.

 
Old 06-16-2010, 09:36 AM
 
8,760 posts, read 9,931,202 times
Reputation: 4511
OP, this is very true --- just look at people like Sam Walton, Bill Gates, and Warren Buffet.

you don't get rich by overpaying for things or spending $$$ unnecessarily
 
Old 06-16-2010, 01:06 PM
 
71 posts, read 80,116 times
Reputation: 35
There are numerous examples of that on the main line out side of philly. Typically in the form of old ladies driving bead down 1980's Buick lebarons who end up being worth millions and millions of dollars.
 
Old 06-17-2010, 04:47 PM
 
1,492 posts, read 6,777,332 times
Reputation: 1419
Something interesting-

went to a tupperware party and the rep lady was doing her spill, "what would you do with an extra thousand bucks a month?" As everyone gave their answers a common theme was noticed-
pay down my mortgage
pay off my car
pay off bills

my answer: Travel more

After the hour of the sales presentation, I really took the time to look through the catalog, the items there to see if there was anything I needed.
Nope, not a thing but I thanked the hostess for inviting me.

The other ladies who needed to pay off their debts- were placing orders for all kinds of stuff!

I walked out of there, a homeowner w/ no mortgage, no car payments, and went home and purchased my plane tickets for my Thanksgiving cruise.

Hmmmm.....yes, 'rich' folks are frugal....it's the poor ones who mismanage their money.
But I'm not rich! I would hope to be one day, but ....
 
Old 06-17-2010, 06:29 PM
 
Location: Edmond, OK
4,037 posts, read 8,842,382 times
Reputation: 4154
DH and I are not rich, but we are frugal with out money. We try to be smart with our spending. Yes, we make more money than most of our other family members. We want to be able to put our kids through college and retire in comfort. Our families think we are rich and they call us cheap because we do things like order only water to drink when we are dining out, or because we might occasionally split an entree. No, we do these things for other reasons, like w don't drink sodas, and we try to avoid caffeine and too many calories. While we could, we choose to not buy extravagant gifts for each other or our family members. SIL makes a tiny salary, yet she spends thousands on her kids for Christmas and birthdays, and buys her boyfriend things like boats, and ATVs. She spends tons of money traveling to see "friends", and buying birthday and Christmas gifts for people she barely knows, like a friends fiance that she has met only once or twice. Then she complains that she is broke. No kidding! She never seems to get that one reason we have a comfortable life, is that we don't throw our money away on junk.
 
Old 06-18-2010, 02:26 PM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
Quote:
Originally Posted by chopchop0 View Post
OP, this is very true --- just look at people like Sam Walton, Bill Gates, and Warren Buffet.

you don't get rich by overpaying for things or spending $$$ unnecessarily
These are billionaires, nonetheless Frugal. Right now they would still have lot of money even if they overspent.
 
Old 06-18-2010, 02:28 PM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
Quote:
Originally Posted by VegasGrace View Post
Something interesting-

went to a tupperware party and the rep lady was doing her spill, "what would you do with an extra thousand bucks a month?" As everyone gave their answers a common theme was noticed-
pay down my mortgage
pay off my car
pay off bills

my answer: Travel more

After the hour of the sales presentation, I really took the time to look through the catalog, the items there to see if there was anything I needed.
Nope, not a thing but I thanked the hostess for inviting me.

The other ladies who needed to pay off their debts- were placing orders for all kinds of stuff!

I walked out of there, a homeowner w/ no mortgage, no car payments, and went home and purchased my plane tickets for my Thanksgiving cruise.

Hmmmm.....yes, 'rich' folks are frugal....it's the poor ones who mismanage their money.
But I'm not rich! I would hope to be one day, but ....

I would have said invest more. I also like to travel.
 
Old 06-18-2010, 02:37 PM
 
12,671 posts, read 20,493,570 times
Reputation: 2618
Quote:
Originally Posted by debzkidz View Post
DH and I are not rich, but we are frugal with out money. We try to be smart with our spending. Yes, we make more money than most of our other family members. We want to be able to put our kids through college and retire in comfort. Our families think we are rich and they call us cheap because we do things like order only water to drink when we are dining out, or because we might occasionally split an entree. No, we do these things for other reasons, like w don't drink sodas, and we try to avoid caffeine and too many calories. While we could, we choose to not buy extravagant gifts for each other or our family members. SIL makes a tiny salary, yet she spends thousands on her kids for Christmas and birthdays, and buys her boyfriend things like boats, and ATVs. She spends tons of money traveling to see "friends", and buying birthday and Christmas gifts for people she barely knows, like a friends fiance that she has met only once or twice. Then she complains that she is broke. No kidding! She never seems to get that one reason we have a comfortable life, is that we don't throw our money away on junk.
Its too bad high school and colleges do not teach budget 101 and never will. Credit Card companies love it. They like to give CC's to folks who just turn 18.
 
Old 06-18-2010, 02:43 PM
 
Location: Denver, CO
1,425 posts, read 3,873,544 times
Reputation: 875
Quote:
Originally Posted by Texas User View Post
Its too bad high school and colleges do not teach budget 101 and never will. Credit Card companies love it. They like to give CC's to folks who just turn 18.
Yeah we have to take initiative in our own hands. That means teaching our kids the value of money when they are starting preschool, and reinforcing being frugal and not wasteful every opportunity we have. Outside of our sphere of control, we know they will at least be armed to fend off the constant bombardment from spending temptations.
 
Old 06-18-2010, 04:45 PM
 
Location: In America's Heartland
929 posts, read 1,824,067 times
Reputation: 1173
People are different regardless of how much wealth they have. Some wealthy people are frugal, some are not. Some earned their wealth, some did not. Some wealthy people give, some do not.
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