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I have a $400 car payment. Now I wish I would have went with a lesser car and it would have got better mileage to boot. The vehicle I get gets 19 miles per gallon. It saddens me because I was looking at a hybrid, but the car salesman talked me out of it. SUVs, luxury cars, and sports cars are status symbols to many. I fell into that trap of trying to keep up with the Jones'. Thats what I was expected to do because thats what everybody else was doing. Today, I care less about status and more about saving every penny I can, but I can't just change my lifestyle overnight.
But bchris02..the fact that you realize it now puts you way ahead of those that are still trying to "be" the Jones.
It takes time to pay off that debt..but once you are debt free (I am except for mortgage) so many more doors open to you..you are not a slave to your job because of your debt for example.
I'm not single - I'm married with two grown children, two grown grandchildren and one great grandchild. And, frankly, I am amazed at all the people who die, with money, and never have had any fun - they are always saving for that "rainy day". Don't misundertstand - saving is fantastic - but there is also a world out there to see and explore.
We have never given up vacations. And since the kids have grown, we take more. We have explored all sorts of this planets riches -
$20 / $30 lunches are not that uncommon - if one goes to a nice place -
Like Speedy - we enjoy our dinners out - it is not rare for us to have a check for 200 / 300 for dinner for just the two of us - We also have had the $10 dinner tabs as well. We love fine food and fine wines.
I have rarely seen these $7.00 coffees however at a coffee house - and we go to various places all the time. Refreshments at a ball park are always going to be on the expensive side - that is a given - and has been that way for decades.
"Eat, Drink and be Merry - For tomorrow you die" is a fine motto - and I try to live by it to the fullest.
I never understood people paying so much for leasing a car and ending up paying twice or more for the same car as I would by paying cash.
I'm not going to movies often although other family members some time do. I rather have it warmer than sitting in the freezing cold A/C, and love to sit in front of my huge flatscreen HD and eat whatever, whenever and spent way less and have more fun...I only go to the movies for the very special once that are worth it to be seen in a theater, but it is good that others go since it will keep others to have a job.
I'm not single - I'm married with two grown children, two grown grandchildren and one great grandchild. And, frankly, I am amazed at all the people who die, with money, and never have had any fun - they are always saving for that "rainy day". Don't misundertstand - saving is fantastic - but there is also a world out there to see and explore.
We have never given up vacations. And since the kids have grown, we take more. We have explored all sorts of this planets riches -
$20 / $30 lunches are not that uncommon - if one goes to a nice place -
Like Speedy - we enjoy our dinners out - it is not rare for us to have a check for 200 / 300 for dinner for just the two of us - We also have had the $10 dinner tabs as well. We love fine food and fine wines.
I have rarely seen these $7.00 coffees however at a coffee house - and we go to various places all the time. Refreshments at a ball park are always going to be on the expensive side - that is a given - and has been that way for decades.
"Eat, Drink and be Merry - For tomorrow you die" is a fine motto - and I try to live by it to the fullest.
I think it's all about balance. If you can afford the lifestyle above without getting into debt that's great. Some people can't afford it, get into debt and continue to do it anyway. I think that's called champagne diet on a beer budget.
Personally, I've been on my deathbed at one point in my life, when I was 33. I never thought about vacations or wished I spent more money or dinner out, any of that. I was just glad that we had enough insurance, savings, incase I didn't make it so that my husband and daughter could make it afterwards.
Like Speedy - we enjoy our dinners out - it is not rare for us to have a check for 200 / 300 for dinner for just the two of us - We also have had the $10 dinner tabs as well. We love fine food and fine wines.
I went out to eat with my girlfriend at The French Room in Dallas, TX before and our total bill for the evening was over $300 for us two. The food was excellent, the service was outstanding, the atmosphere was a feast for the eyes; it's not something I'd do very often but I can honestly say the whole package was worth the price to me.
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"Eat, Drink and be Merry - For tomorrow you die" is a fine motto - and I try to live by it to the fullest.
Even crazier than $5 ice cream or $12 movie tickets is the risk people assume just living a moderate lifestyle.
-Credit card risk. People take on way too much risk keeping up with payments, grace periods, or interest rate risk.
Even if you've only got a $500 or $2,000 balance, at 15%. If you're late on a payment. A check doesn't clear. Something happens to interrupt your routines or your lifestyle, and your rate jumps to 25% because of X (it could be anything). You're paying 10% more a year for nothing.
$200 a year on a $2,000 balance, and you're buying nothing to begin with!
-The risk with housing, and interest rates. And whether you can refi or something. Just craziness.
Some things people do are just sort of sad, I knew people that bought RV's 5-10 years ago, and now with $4.50 gas, they're completely screwed. And depreciation risk.
It seems like people can do something, it takes 5 minutes to get in it, yet it can take years to get out of it (with alot of stress and pain along the way).
It's more damaging long term than $4 starbucks or $20 at the theater, with parking, a ticket and a popcorn.
It has become inflated from a couple of generations ago. Debt isn't the only problem, people in many careers actually make too much. That is why I don't take all the talk about wages not increases seriously. A bunch of college grads shouldn't be making 80k right out of college for what amounts to a crappy job in the financial sector.
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