Living below your means

[Rogue Hawk]

I see people around me who have all kinds of cool stuff. Yes, I have stuff, but I buy below what I can afford. Like, I bought a Ryker rather than an F3, I bought a Yamaha XRS rather than a Ducati, and just recently, I purchased a Honda rather than a Lexus. Even the Cadillac I owned I bought second hand. I live in a fairly small condo rather than a townhouse. I have never been on a fancy vacation.

So my savings and investments reflect my restraint. All is good. Or is it? I can't help but be jealous of these people. I know my pay is on par with many of them. But they live in big houses and drive new BMW's. I wonder if they just get a big inheritance. I have no inheritance per say. Both my parents where greedy sociopaths that only left debt in their wake. I do really like my new car. I am fortunate I can get a good car. But when I compare it to my wok parking lot full of Porsche, MB, Lexus and BMW, I feel jealous. I have the money for such a car, but I'm in this world alone. I need a good sized backup because I have no safety net.

I'm just rambling. I think we all fall pray to Consumerism.

 

[h0gr1der]

https://youtu.be/r0HX4a5P8eE

The term is delayed gratification. I always explain to the young folks that we all suffer at some point in time. To a young person suffering may be the inability to buy those new sneakers or big screen TV. To an old guy suffering may be not being able to afford that replacement hip. You have to make a choice.

 

[RICZ]

Rouge Hawk....you and I have much in common, except for one thing you mention; I have no jealousy or envy for those who have more than I. I also buy what I can afford to pay cash for, so I can live without debt. I knew what a burden debt was in my first marriage and swore off of it. We saw what happened to those who mortgaged their futures with excesses when the recession of '08 hit. My wife and I came through it OK because of zero debt - we even paid off our house years ago.
I have been on motorcycle forums a long time and I can't count the amount of posts I've seen where someone is financing a toy for crying out loud! Nothing to envy there Mr. Hawk. Those big houses and fancy cars and toys, for the most part, aren't even theirs, a lender has the titles.
So enjoy the hell outa what you have. After all, it's yours and no one else's.

 

[bayoubill]

i'm the same way, thats why i have a used rs now, in fact i don't buy anything i can't save up and pay cash for and haven't had a payment on anything in over 20 years, i don't envy the people on f3's though, or the people i ride with on the new harleys, mines paid for and has been since i have owned it,

 

[Gwolf]

Having stuff is not what it is all about. You don't own stuff. The stuff owns you. If you have enough, that is all you need. I don't buy anything unless I can pay for it............

Actually, I do own a new 2019 F3-S........... and I paid cash for it.

Many of the people who look like they have it all, have big debts and that is all. Keep living sensibly and you will be able to buy anything you want some day.

 

[Sputter]

You folks are wise!!!!

 

[HippieSpyderChick]

What everyone said^^^^

I don't know how old you are but you'll have the last laugh when you are able to retire a decade (or more) earlier than your peers.

 

[Jaxfann]

Hawk - you are a wise dude!

My second car is a Ryker - why? - because in the beautiful climate that I enjoy 10 months of the year this is how I prefer to travel!

I can afford another nice auto but I want the wind in my hair and although I am 77 years old I do believe I will ryde with the wind for another 23 years!

 

[donhy]

If who you are is what you have and what you have is lost than who are you ?

 

[cptjam]

We only have one car. We would rather ride. Need one to haul the dogs, and big stuff that won’t fit the the trailer. We lease it, as even used cars depreciate so quickly! I could envision no car, just uber if we have to. Or rent one for a specific need. Cars consume cash: gas, oil, insurance, tags and on and on. Since we drive it maybe twice a week, the depreciation is absurd! We used to have 3 cars, a big toyhauler trailer, a trophy house, on the water.....and massive debt. We have a smaller home, 1 car, and enjoy ourselves a whole lot. Good trade!

 

[glennm]

Rogue
I think debt is a fact of life. If you live without it then fantastic. Our money goes on our kids and grandkids trying to help them out where and when we can and I have no regrets in that regard. Getting closer to retirement has prompted me to reduce/eliminate overheads including selling off unused vehicles and other items, without being ridiculous i.e. keeping items the family and I use/enjoy. I know people with expensive vehicles and yes they are nice however if I had to live with the sort of debt to have one then no thanks. I thanked you for your post as it was a reminder to not fall into the trap of "if they can afford it why can't I?" The answer of course as others have mentioned is most often they don't actually own the items. I really enjoy what I have and get to enjoy the visual and aural excitement of what others have without the debt!

 

[RapidSpyder]

I am debt free and endeavor to stay that way. Sure a new truck would be be nice but for as much as I paid for my house? No thanks, I’ll just put a lot less into my Excursion and fix it up.

 

[SPECTACUALR SPIDERMAN]

My wife & i live what some would consider below our means. i have a '99 solara & my wife a '15 crosstrek. we own our apartment we live in & our
house that we rent out. i bought both my bikes with cash doing sunday car shows and now do some ebay. we have what we want & will do early
retirement in a few years while we can still enjoy life.
We will retire debt free with ss being a bonus not a lifeline and of course moving down south to get more value for what we spent our life working
and saving for.
Those who wish to show off that can afford it, great for them, those who do so with large debt well too bad after all it is a personal choice.
We have what we want & do what we want but of course we would like more and it doesn't bother us if we don't have it since we have each other.

 

[Greven]

I agree that debt/loans is hard to avoid, most people need it for a house etc.
Personally I try to avoid any other loans though, both mine and my wife's car are 10-15 year old cars that are quite cheap to maintain. We have a decent living standard, but keep costs down. For example buying entry level smart phones instead of top of the line, and when buying a new TV every 7 years, we go for entry level of last years model when it's on sale.
For me, living cheap and prioritizing what you spend money on - gives me economical wiggle room to afford a Ryker

 

[blacklightning]

I have been told that everyone has there own thing. What one person considers a waste, another considers a necessity. Example, I have a buddy that picks on me for using coupons and being frugal when it comes to buying cloths. Yet, he lives in a nice neighborhood, and needs to save up funds to buy a $5k dollar car, in which he only needs $3k to pay down. While I have been living cheaply, and eating with coupons when I can, I just purchased a 2 year old, sweet little convertible, which I paid for cash. Yes, I live in a slightly smaller house, but mine is paid for. I do buy my toys (bikes, spyders, convertible), but always within reason, and if I cannot pay cash, I don't get it. Some people smoke, some drink, some have other hobbies (guns, knives, antiques, etc.), but I like things that I can ride. Now, do I save for the future? Yes, you better believe I do, but I also believe in living for the present. Unfortunately (mostly due to my wife), we have spoiled our kids (24 & 32), and they have gotten an idea that we owe them something. But I have decided that although I plan on leaving them some of an inheritance, it will be more of a "what's left". Mainly because they have been given so much already. What kids need to learn (as I did), is that anything that your parents do for you past the age of 18 is strictly out of love. They owe you NOTHING!
But, after purchasing my convertible, I realize something, although it is nice, it does the same job as my 11 year old Suzuki Grand Vitara. It gets me from point A to point B. So, in short, if you see something that you really want, and can afford it, get it. But just realize that you should get it for yourself. Not to impress someone else.

 

[wyliec]

I see people around me who have all kinds of cool stuff. Yes, I have stuff, but I buy below what I can afford. Like, I bought a Ryker rather than an F3, I bought a Yamaha XRS rather than a Ducati, and just recently, I purchased a Honda rather than a Lexus.

So my savings and investments reflect my restraint.

You have quite the restraint with 3 moto's. :joke:

I guess restraint is just a matter of perspective.

 

[ARtraveler]

Another great discussion. :bowdown:

We have passed the retirement phase now and are living on proceeds from 401K and SS. It would have been nice had I saved more when I was working...but...you know what they say about 20/20 hindsight.

Fortunate enough that our AK home sold at asking price and gave us enough to start our life in AR with a new home. All our vehicles are paid for, and we carry no other debt other than a small mortgage compared to AK.

We have to be a bit more frugal than we were, but we are making it.

 

[Batmobil-F3]

Things aren't life, family and friends are life. Envy is a normal feeling, it is important how to deal with it. Just find out why you're jealous. Then there is also a way to deal with the feeling.

 

[wingit3611]

Thrifty shoppers don't experience jealousy.

 

[UtahPete]

I buy below what I can afford. Like, I bought a Ryker rather than an F3, I bought a Yamaha XRS rather than a Ducati, and just recently, I purchased a Honda rather than a Lexus. Even the Cadillac I owned I bought second hand. I live in a fairly small condo rather than a townhouse. I have never been on a fancy vacation. So my savings and investments reflect my restraint. All is good. Or is it?

I think we all fall pray to Consumerism.

I disagree.

We don't all fall prey to consumerism, although many do. Madison Avenue banks on it.

Farkling is consumerism in action. What's the problem with that?

Others with different values would scoff at our expenditures for Spydering.

Best not to judge others, I think.