If more Americans had your attitude, our nation would be solvent. Most Asians eschew loans and pay for everything in cash, and their nations have enormous savings rates and reserves.
I enjoy the small things alot more than I do the big expensive things. I’ve only owned two new vehicles in my life and I’m 54. My current truck is 9 years old and I plan to drive it until it falls apart. I probably won’t ever buy another new one. Our farm is beautiful and the house is just an old farmhouse but it’s probably built better than the new homes that cost hundreds of thousands of dollars.
When times are good I save extra money in the Credit Union for when times are bad and I have a Christmas Club account. I’ve managed to have two 401k’s, a profit sharing account, and retirement benefits from three companies even though I’ve worked for the same company for 33 years. We’ve been owned by Kraft, Gillette and Proctor & Gamble along with retirement from our Duracell brand.
There are times we’ve had to go in debt for a vehicle or some large item but I finance for the shortest period possible. I believe that if you make a bill you are obligated to pay it. The best way I know to stay solvent is to not borrow money if you can help it. I’ve seen people I work with, that make excellent money, beg overtime because they mis-managed their finances.
No, I don’t have a fancy house or a new vehicle but I can go out to eat occasionally and buy the granddaughter things she needs. What more can you want? People make life way too complicated by trying to keep up with the “Joneses”.
Sorry, I didn’t mean to write a book but personal responsibility is a big issue with me. :-)