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Old 09-26-2019, 08:26 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
5,871 posts, read 4,341,659 times
Reputation: 8087

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Quote:
Originally Posted by USMC1984 View Post
I believe most of the answers here are nothing at all like rich people do...they are what broke people do to LOOK like they're rich while actually keeping them broke!


So, What do I do that rich people actually do?


1. I wear clothes until they wear out.


2. I only buy stuff on sale...like shoes for instance. If I find some I like and they are good quality, I will buy multiple pair and not buy shoes again for years.


3. Like number two, I will have quality leather shoes resoled rather than replaced.


4. I finance things at zero percent or at least at a lower percent than I gain in investment interest. The only interest I actually pay is on my mortgage, I have no other interest bills...including my car, which is financed but at 0%. (I purchsed my dream car last year for $46k and after 10 months still do owe 16k on it but at 0%. FWIW, I do not pay extra each month because there's no incentive to pay it off early when it's not costing me anything. I'm using their money, not mine!).



5. I only use rewards cards...and use them for EVERYTHING....all bills and pay them off every month so I get the rerwards but pay no interest.


6. I do not make impulse purchases.


7. No fast food, no processed food...rarely eat out but when I do, it's a pricier, higher quality place as an occasional treat.


8. I put money into savings and investments First, then pay bills...what's left is discretionary. Discretionary never comes first or second.


9. Purchases are not taken lightly...everything is calculated not in dollars but in hours and minutes worked. (You'll start seeing things valued differently if you look at them in this way!).


10. I do not try to be trendy, keep up with the Jone's or impress people with stuff...oddly though, I'm often asked how I can afford nice stuff.


About number ten...I'm often asked how I afford to eat steak regularly or have nice stuff by people making the same Money I make. The answer is simple. I buy a big tray of steaks at Costco...they actually equal about $5-6 per steak, add another buck for fresh veggies and that's a good meal...it's less than a drive through!



Add up one Starbucks each day and you have an extra $150 or more each month...sodas, another 100-150 each month. get rid of cable TV and save 50-?? each month and many hours that could be put to earning, learning or more quality leisure activities.


This thread is very eye-opening as it shows that most people have NO idea how the rich actually do.


I suggest reading a book called the Myths of Rich and Poor for those interested.


Likewise, I highly suggest the cute little book called the Richest Man in Babylon...it is quite simply THE most succinct book on wealth and finance in existance. It is a joy to read, easily understood by anyone and also a very quick read.


All said, now I expect the "But, But, But" attacks to begin! To which I will answer in advance that just 11 years ago I was almost homeless...lost everything and had to start over doing $8-10/hr jobs! These two books and changing my way of thinking have completely changed my life. Was it easy? NO, it was anything but easy...but doable by anyone.
But on the other hand you can only guess how rich the posters here are. Not to mention everyone has a different definition of what rich is. So much of this forum talks about a lifestyle to accumulate wealth which is what your long post is.

Heck the idea that you buy steaks at all some will consider you trying to act rich .

The question is directed at people retired already. Some of those people no longer need to accumulate wealth, they are set and they may easily afford to do a few rich things. Some people never know when to stop saving and stop living.

I can do everything you list, but why? I already have enough money and don’t need to save more. With all that you wrote you should have written out a financial scenario of where you want to be when retiring. If you hit that goal, why continue living frugally if you no longer need to. I am able to have almost anything I want within a generous reason, what good is living under your frugal methods going to do me. Make me richer when I am 90?

Less than Ten years ago I had to file bk. I had to rebuild my life like you did so I also know what it’s like to not have money. People I know that I consider rich don’t do the things you listed. They don’t need to and the money savings changes nothing in their financial status. All the things you list are great for those working their way up to being rich, not for those already there. That’s the difference.

Also consider some things you might think as being a rich expense keeping you poor are structured by rich people as write offs or not owned by them personally.
I listed high end cars which you would say is keeping me poor. In your limited world you think that way, but in mine I set it up where the payments are actually buying sfh rentals making me richer and giving me tax deductions on those payments. The world isn’t all just don’t spend money to get rich.

Last edited by aslowdodge; 09-26-2019 at 08:37 AM..
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Old 09-26-2019, 08:47 AM
 
Location: Living on the Coast in Oxnard CA
16,035 posts, read 27,230,184 times
Reputation: 21022
I eat well, meaning no sugary processed foods, no fast food.

I manage my time. You have no idea how much time you have. Of course it is possible to increase the time you have by eating well, getting plenty of sleep, and not using drugs, drinking, smoking in any form, or doing reckless things.

I manage my money. While it is easy to make it is harder to keep.

I spend lots of time with my family. That is where real wealth comes from. My kids are my investment in the future.
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Old 09-26-2019, 09:23 AM
 
Location: Florida
5,575 posts, read 3,240,480 times
Reputation: 10155
It is all above my pay grade.
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Old 09-26-2019, 10:25 AM
 
6 posts, read 1,462 times
Reputation: 28
I do not need money to feel rich.

I am rich because I am happy.

I am rich because I have a very nice home.

I am rich because I have not only a great running furnace, but also a wood burning furnace. There is something rich about the feel of the heat coming off a wood fire.

I put my pants on each morning one leg at a time, just like a rich person should.

I have plenty to eat and eat when ever I like. I am a great cook so therefor I eat gourmet all the time.

I can either stay home or travel at a moments notice.

I drink only 100% Agave Tequila with only ice and lemon. The best of the best.

What do you do?
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Old 09-26-2019, 10:40 AM
 
2,279 posts, read 1,301,246 times
Reputation: 2822
I pack lunch and sometimes breakfast from home to avoid paying exorbitant food prices around my office
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Old 09-26-2019, 12:59 PM
 
Location: Venus
4,935 posts, read 3,338,943 times
Reputation: 8312
Quote:
Originally Posted by silibran View Post
I just thought of something. I drink really expensive tea, and I eat pretty expensive chocolate bars.
Me, too. I'm a bit of a tea snob. There are many times when we go out to eat, I will ask for a cup of hot water and use my own tea bag.


Cat
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Old 09-26-2019, 01:43 PM
 
Location: Southwest Washington State
23,284 posts, read 15,158,343 times
Reputation: 33486
Quote:
Originally Posted by CatwomanofV View Post
Me, too. I'm a bit of a tea snob. There are many times when we go out to eat, I will ask for a cup of hot water and use my own tea bag.


Cat
Well, I often ask for tea during the colder months, I had not thought about bringing my own tea bag. Recently, though, some restaurants in the PNW have upped their tea game. But the majority still seem to have no concept of how to serve a proper cup of tea. So, thanks for sharing this.
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Old 09-26-2019, 06:44 PM
 
Location: San Francisco Bay Area
4,969 posts, read 2,700,875 times
Reputation: 9833
Quote:
Originally Posted by adjusterjack View Post
Every day I biddy biddy bum
Since I am a wealthy man.
I don't have to work hard.
Ya ha deedle deedle, bubba bubba deedle deedle dum.
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Old 09-28-2019, 10:17 AM
 
Location: equator
4,075 posts, read 1,770,980 times
Reputation: 10114
Quote:
Originally Posted by silibran View Post
Well, I often ask for tea during the colder months, I had not thought about bringing my own tea bag. Recently, though, some restaurants in the PNW have upped their tea game. But the majority still seem to have no concept of how to serve a proper cup of tea. So, thanks for sharing this.
"Upped their tea game", LOL. Maybe we need to have those dedicated tea houses the Japanese have.

I guess that's what their rich folks do.

Getting back to the topic, I guess having some plastic surgery would be something I did "way above my pay grade" as Engineman said.
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Old 09-28-2019, 11:58 AM
 
Location: Carolina Shores NC
6,964 posts, read 8,319,449 times
Reputation: 5388
We live well below our means.
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