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.
Absofrickinlutely!
I get some of our stuff there, but I’ve recently discovered that our Kroger marks down organic produce and dairy five days before expiration. Since most of Steubenville’s residents don’t eat that stuff, I take advantage of the bargains and just make sure we consume it quickly! 1 gal. of Horizon organic whole milk- $2.99, 1 lb. organic mesculin mix- $1.49. I also make my own yogurt, it is so easy and cheap! I never have to buy it again!
Thank you!
Hey Greg (waves!) small world. Yes...I need Mr. Ramsey’s tips/mindset/HELP to get two more thru school.
Gulp. That and PowerBall numbers (just kidding).
Got rid of my cell....FREEDOM! Oh my gosh how beautiful not getting calls from people who say nothing but want you to occupy their down time! When I leave work...I have car time once again...When I’m out..I’m out on my own and enjoying every minute uninterrupted. It is beautiful not being “ON” call 24/7.
I not only gave up the cell phone...but the TV as well...nothing nada...you never realize the drain these have on your life til they aren’t there sucking it dry! I have radio...and computer...landline phone....that’s it and I love it!
Our local Good will has a great book section and movie section....either or is entertainment...I have friends in or go there for meals, stopped going out. Am learning soon how to cook with wine! Thanks to Freepers...
Have baseboard heat in a rental unit, cost a fortune to heat....bought two of those radiator oil filled heaters and zapped my electic bill....plus the heat is so much warmer and very cozy.
I now go to the Dollar store for incidentals etc. q-tips etc. Great savings all around.
As for Aldies...the one here has some of the best fresh veggies...I coudn’t believe it! So I go there for them. They do have some specialty foods that are pretty good as well...frozen foods too. Fruit mix is excellant.
Well, stop.
Uhm, Where did I ask for help/advice, etc? You may want to READ the comment from csm to me if you want rude.
Stop what? Posting to you on a public forum? Because you asked so nicely, I’ll stop.
“Get by without a car payment? In my job, Einstein, one doesn’t get paid without having a vehicle.”
You said this and then people told you how to get by without a car payment. You seem to think that you can’t own a car without a payment. You then proceeded to insult the people that challenged your assumption and answered your question.
We are a single family income ($32,000 a year). With that money alone we are able to pay rent, give 10% of our income to the church, give to two other charities, provide our 3 children with food, clothing and an education, own two used vehicles, and save $500 a month. This would NEVER have been possible without learning the principles in Dave Ramsey’s Financial Peace University. As I said upthread, we were on the verge of bankruptcy because of unemployment before we attended FPU.
You came on this thread telling everyone how hard it was to get by every month. If you don’t want help and advice from people that are debt free and able to save money every month, then your circumstances aren’t likely to change.
Are you from DU?
It’s a miracle!
No, I wrote about how hard it would be to become a millioniare with the many costs associated with everyday living, thank you very much. I didn’t ask for advice either. It helps to read the WHOLE thread before jumping to conclusions....
Are you?
And yet there are numerous people on modest incomes that are doing just that (becoming millionares). I did read the whole thread and I didn’t jump to any conclusions. You have an attitude problem.
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