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PDU
travel kid vs.amerika



Registered: 12/03/02
Posts: 10,675
Loc: beautiful BC
Last seen: 8 years, 4 months
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Saving money. (how to?)
#7834018 - 01/04/08 11:10 PM (16 years, 27 days ago) |
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I am all about saving money (being taught from my frugal but rich grandfather.)
I think i have a healthy perspective on reality, which has lead me to doing things my own way, ie; Shop thrift exclusively, grow my own food (when possible), freecycle, live communally, even cut my own hair.. etc..
Ultimately, not having watched television and removing myself from the normal expectations (nice hair, hot girl, fast car/bar, always-trying-to-impress-someone-with-what-you-have lifestyle) may have allowed me to reevaluate my priorities in a rational way, putting me a step ahead.
All of these things have lead to a healthy way of saving. I certainly know i do not want to follow my fathers footsteps with many thousands of dollars in studant loans, and little savings/assets when im 50+. So i've already started putting away toward my future.
Right now, im doing my "spend $15 dollars a day experiment." - as i am focused on travelling to south america, then travelling my own country, relocating and ultimately relocating + getting an education in the next 2 years....
My bills are never late, i have good credit, i always have good food and a nice roof over my head. ----> i do not make more than many of my friends, however, i spend wiser.
Whats your secrets to financial stability, and realistic spending? How did you guys duck out of the living-off-credit trap, that seems so pevelent to todays generations?...
-------------------- GO OUTSIDE.
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GnosticWarrior
Hermit


Registered: 03/11/07
Posts: 241
Loc: Oahu, Hawaii
Last seen: 14 years, 8 months
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Re: Saving money. (how to?) [Re: PDU]
#7834397 - 01/05/08 02:41 AM (16 years, 27 days ago) |
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Sounds like you got a good head on your shoulders! I was lucky like you and had frugal grandparents. They were pack rats and saved everything. One fond memory of my grandmother is seeing her toothpaste tube at the kitchen sink, when the paste was all squeezed out, she'd not waste a bit and cut the tube open to scrape the inside of the tube.
My grandfather always took any car someone wanted to give away. Even if it wouldn't last long, he took off batteries, radiators, tires, anything that he could use as replacement parts for another car. Knowing the rule of 72, do you know how much money you would save over your lifetime by avoiding buying a new car? Then also save on the insurance bcs you own it and don't need have it fully insured!
Since you mentioned you want to go to South America, have you heard of Jim Rogers? He rode a bike and three years later drove an SUV around the world. Getting a first hand experience of political and economic happenings.
http://www.amazon.com/Investment-Biker-Around-World-Rogers/dp/0812968719
http://www.amazon.com/Adventure-Capitalist-Ultimate-Road-Trip/dp/0812967267/ref=pd_bxgy_b_img_b
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Saving money. (how to?) [Re: PDU]
#7834625 - 01/05/08 06:51 AM (16 years, 27 days ago) |
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It sounds downright weird, but seriously.. Read up on Hinduism and Buddhism.
Material gain or loss is just an illusion. In many purchases you are chasing mental and spiritual gains, which you "materialize" by focusing your desire on objects you just got to have.
The new fancy car, the shopping spree because you feel empty inside.. It doesn't lead to the salvation you seek. Find out what you really want.
Perhaps the Hindus are right, and is Desire the root of all suffering.
You might find out you desire some material gains because you yearn for a transcendence you can give yourself RIGHT NOW, at no cost at all.
With many luxury purchases we are chasing ghosts and we think that this purchase will deliver us from the inner unrest and desire we feel. You can't catch a ghost. Once a desire is fulfilled, a new desire is born. More, more, forever yearning, never fulfilled.
Break free of that neverending cycle of torment. Ultimately it is self inflicted and you can stop it, learn to tame your desire without giving in to it.
Needless to say, my success in financial stability relies heavily of turning my desire away from getting more and more material gratification. I spend less than I earn, just about all the time.
Quote:
realistic spending?
What do you need, vs what do you want? Quench your hunger for more and you will actually receive it, as you spend less.
Quote:
How did you guys duck out of the living-off-credit trap, that seems so pevelent to todays generations?...
Its not much help to most, but I never got in the trap to begin with. My mother taught me to never ever get even one cent into debt, at all cost.
A friend of mine got into debt well over 10 years ago, all the while making more money than me. He's still in debt. In his kitchen you can see the most expensive brand of just about any product "because it tastes better". Even the salt he buys is the expensive kind that comes in small shakers instead of the perfectly fine stuff that comes in paper kilo bags for a few dimes. One day he made chocolate milk for me that, it has to be said, tasted damn good. I happened upon the package of cocoa powder in his kitchen later on. It cost $8 for a quarter pound.
$1,50 a pound is fine with me man. Really. Yours tastes better yes, but not twenty times better.
And all the while making more money than me, and all the while flat broke. His suffering is entirely self-inflicted. He could've paid off that debt a long time ago. Interest of his debt stacks on interest through the years. $15.000 came his way through working extra hard for it and seizing opportunities. Did he use it to take a big chunk off his debt? No. He spent it mostly on luxury. The luxury has long since passed, the debt remained, interest stacked upon it. Has it gotten him the salvation he so desires? No.
The best isn't good enough for him, and while I can understand the sentiment, he is flat broke all the time because of it. A slave to his desire, to his 20x cocoa, his needlessly expensive weed. It's painful to watch him delude himself like that, to see him suffer by his own hand.
He's under-insured because of his debt. If financial destiny strikes again, he'll have to loan more, and work his ass off flat broke for another decade.
He earns quite a bit more than me. we have about the same expenses. But I'm stacking gold and he's flat broke all the time.
-------------------- Omnicyclion.org higher knowledge starts here
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Ego Death
Justadropofwaterinanendlesssea


Registered: 04/27/03
Posts: 10,447
Loc: The War Machine
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Re: Saving money. (how to?) [Re: PDU]
#7834689 - 01/05/08 07:54 AM (16 years, 27 days ago) |
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Live with parents, work as much as possible, do not spend unless you have to.
I spent 3 years living on handouts, I mean my friends give me their old shoes and clothes. I don't care if I havn't got the latest trainers or mobile phone.
I buy stuff cheap from the local druggies (as long as its there stuff not stolen stuff) and sell it on ebay for double the money.
I'm saving for a villa abroad. My friends call me Mr. Tight but I just laugh. It doesn't affect me and they all respect me because they know I'm succeeding and one day soon they are gonna be chillin in the villa with me!
I've saved alotta money by living like this. I'm into double figures and the interest on what I've saved alone is quite a reasonable extra income ($20 a week).
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