Posted on 08/16/2010 9:15:33 AM PDT by CSM
Have you considered satisfaction with less things throughout life?
Despite being the most affluent generation the world has ever seen, 54% of Americans have saved less than $25,000 for retirement. We're sacrificing our retirement to support our lavish lifestyles—big houses, cars, boats, flat screens, you name it.
Few people can embrace the idea of cutting back their lifestyle and settling for the basics. But, if you're going to "do what rich people do," as Dave says, forget about impressing your neighbors. Instead of seeking satisfaction in what you buy, why not consider gaining satisfaction from a simpler lifestyle?
Proof That Simpler Lifestyles Work For more than 30 years, Dr. Thomas J. Stanley has studied the habits of wealthy people, revealing his findings in several books, including Stop Acting Rich and The Millionaire Mind. His groundbreaking research has uncovered the truth about the lifestyles of the wealthiest Americans.
Dr. Stanley posted a letter from "Mrs. C.C." on his blog, thomasjstanley.com. Mrs. C.C. has a net worth of more than $1 million, but she has never made more than $60,000 a year. "I have accumulated most of my net worth by living below my means," she said. "I have everything I want, but I have learned not to want too much."
In another letter, "D. Termined," who, at age 55, has a net worth of $2.4 million, describes his family's lifestyle. "I think I paid $67 for a pair of shoes once, and my watch is a Timex," D. Termined said. "My wife has shopped at thrift stores for many years and uses coupons extensively."
There are no granite countertops in his $200,000 house, which was paid off more than 10 years ago. Money saved on the house payments went into savings.
Mrs. T, who is also financially independent, gives 10% of her income to charity, put four kids through college without debt, shops at T.J. Maxx, and drives a Ford Taurus. She told Dr. Stanley, "I am extremely happy with my life."
"Here is yet another case to support my strong contention that satisfaction in life does not come from what you can buy in a store, but rather from the values, beliefs and behaviors that most wealthy people possess," Dr. Stanley concluded.
Finding Balance
While it is important to save and invest for the future, it is also okay to enjoy nice things. Denying yourself the pleasure of new gadgets when you can truly afford them is no healthier than buying gadgets you can't afford.
Some people will be compelled by fear to save more than they need to. Instead of spending money to feel good, they save money to feel good. But the effect is the same—you can never save enough money to feel totally secure if fear is driving you.
Thanks for having my back!
;-)
What about me? I had your back too! ;)
Doh, sorry about that! I am so loved that it is easy to forget all of my peeps. I guess I am truly, “Better than I deserve!”
;-)
:) I was just teasing. People are easily offended by the Dave Ramsey message.
A few years back my husband and I were unemployed for several months. We were using credit at the time. We had a house payment, car payment, credit card payments and NO income. When he finally found a job we were in such bad shape that when we got our tax refund we used the money to hire an attorney to file bankruptcy. We had moved out of state for his job and started a new church and guess what class they were offering. Financial Peace, of course. We got our money back from the lawyer and put it toward baby step 1. We haven’t followed FPU exactly but things are much improved!!! And guess what, there really is peace when you owe no one.
“Anybody have any frugal tips today?”
I do! Don’t live in a 100 year old home because you’ll never get past Baby Step 1. New water heater, new partial roof, new AC. It’s never ending. We’re trying to sell our house and rent for awhile just so we don’t have to pay to keep up our house. It’s killing us!
“People are easily offended by the Dave Ramsey message.”
Those that are easily offended are the same people that KNOW they are in need of a change but are not willing to make the change. Just like “the first sign of alcoholism is denial.” I don’t worry to much about it because I love living in financial peace.
Good luck to you and yours in recovering from your “stupid tax.” ;-)
That’s what I was asking, since he was so rude. Why are you posting to me anyway?
Yeah, whatever. If I wanted your advice I’d have asked for it.
Which post was it that I asked for advice? Go back to bed.
Your right-I made a comment and never said a word about looking for help or advice, a point that seems to have been missed by many.
“This might work for two income couples with no kids, but for a single person, no way. Where I live, you’d be lucky to find an a 1 bedroom apt. for less than $800 a month. Add utilities, car payment, gas, taxes, food, and you’ll never make it.”
This was your original comment, which is a reflection of a defeatest attitude. I think that most of the posters on this thread would love for you to heed our advice and know peace like you have not yet known. If you aren’t willing, then it is no skin off our noses, but we know you will continue down the path of living like the average American, which is very sad.
We won’t drag you to wealth, but if you change your mind and want to live like no one else so that someday you can LIVE like no one else, then we will welcome you with open arms. In the meantime, don’t go on a “living like no one else” thread and tell those of us that ARE doing it that it can’t be done.
Good luck to you and yours.
I’m posting to you because you are on the thread.
Well, aren’t you special. You just have the nicest day possible.
Shop for food at Aldies!!
Fancy meeting you here!!!
A $5 HDMI cord is as good as $50 one.
I desire good food, cheap clothes, good safe/reliable shelter, broadband, basic cable, reliable transportation and medical care of my choosing. Information is my only indulgence I would hate to lose....because I can make whiskey.
Hey people are trying to help you here..stop being rude..
Go Norraad!I’m a avid Thrift shopper.
My problem is I let it get out of hand and have been spending money on things there “ just because they are so cheap” and now I am having to deal with that problem!
Polly
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