Quote:
Originally Posted by Run Silent
Funny how living below your means, paying yourself first in the form of appropriate savings plans, and investing wisely and for the long term seems to work out so well, isn't it? Almost like we made a plan for our money, isn't it?
Boring when it comes to finances isn't a bad thing.
But of course what would you and I know? Besides, I'm just a cheap accountant who bought himself a Ferrari for cash at age 42.
Rock on, man!
What was it that Dave Ramsey always used to say? Live for a while like no one else does, and later - you can live like no one else does? Something like that.
I also like "Don't be normal, normal people are broke." |
Amen. The wife and I have the same mindset when it comes to finances. Live below your means. Period. But we also like nice things, we just have much less of them compared to our friends and family. My M235 is the fanciest thing we have. What I paid for it new is much less than what most people are paying for nicely loaded domestic full size trucks (f-ing crazy). My neighbors constantly note how I'm the fancy guy with the BMW all the while they're standing next to their $60K F150 and a house with a huge mortgage.
We're in our mid-40s and our modest house was paid off 5 years ago. We carry no debt. We use our credit card almost exclusively and it's always paid off every month. Every year we get 4 to 6 free roundtrip flights from the points.
In the event I were to loose my job, we would reduce our discretionary spending, and the emergency fund could cover us probably 10 to 14 months before I'd have to tap into our investments.
Our biggest expense is food and alcohol. We eat mostly organic, lots of local/free range meat and cook for breakfast, sometimes lunch, and always dinner. I like craft beer and whiskey. When we go out to eat, I don't ever sweat the bill. It is what it is. Food is very important to us.
We don't worry about money because we live well below our means. It's sometimes hard to see others buying lots of toys, second homes, boats, race cars, etc. but I'd rather enjoy what I have and make due with less. Too much stuff starts to own you.