"poverty mentality"

Poppy_Golightly

Disagree, plus they should be made to read and understand this story which has been highlighted in many books about wealth

"Millionaire and the Fisherman

A businessman took a vacation to a small coastal Mexican village on doctors orders. After a phone call from home that upset him, he walked out on the dock and saw a single fisherman in a small boat with several large yellow fin tuna. The businessman complimented the fisherman on the catch.
The businessman inquires, "How long did it take you to catch the fish?"

The Mexican answers, "Only a little while."

"Why don't you stay out longer and catch some more fish, returns the businessman."

"I have enough for my family and to give to some friends," the fisherman said as he unloaded the boat.

"Then what do you do with the rest of your time?"

He smiles and says, "I sleep late, fish a little, play with my children, take a siesta with my wife, and stroll the village in the evening while I sip wine and play guitar. I have a full and busy life, senor."

The businessman laughs. "Sir, I have an M.B.A and can help you. You should spend more time fishing so that you can buy a bigger boat and hire a crew. Before you know it, you can buy more boats and increase the haul."

He continues, "Instead of selling to a middleman, you could sell directly to customer,then you could expand the enterprise.The best part is that you could eventually sell the business stock as an IPO and become a millionaire."

The fisherman asks, "How long will that take?"

The businessman replies, "15-20 years, 25 tops"

"Then what?"

"Then you would retire and move to a small coastal fishing village, where you would sleep late, fish a little, play with your kids, take a siesta with your wife, and stroll the village in the evenings while you sip wine and play guitar with your Amigos..."


I would like to think I am like the fisherman (except I can't play the guitar!)




L xx

snowleopard61

Poppy_Golightly wrote: »

"Millionaire and the Fisherman

I'd never heard this before and completely agree. I know that I could probably have put money first in my life, or at least given it a high priority, but I didn't. To my mind, it was a trade-off worth making.

Trying to think of yourself as rich when you aren't is also, I think, a slippery slope which is likely to end in a mountain of debt. (There's a mixed metaphor for you!)

scrabbles_2

Poppy_Golightly that kind of sums my attitude up. I'm reminded of Aristotle and Diogenes:

The story has been passed on for centuries about the philosopher Diogenes who was seen sitting on a curb, eating bread and beans for his supper. It was the philosopher Aristippus who made note of it. Aristippus, lived comfortably by flattering the king (so it was said).

Aristippus came up to Diogenes and said, "If you would learn to be subservient to the king, you would not have to live on beans." Diogenes responded, "Learn to live on beans, and you will not have to cultivate the king."

thriftwizard

On a slightly different tack, I can see a vague similarity between the OP's friend's idea & the Bible's "as ye sow, so shall ye reap" or "cast your bread upon the waters & it will come back to you" which are both usually interpreted to mean "do as you would be done by" - in other words, God/life/the universe will treat you according to how you behave. This I would agree with, but I think it has more to do with generosity of spirit, rather than just splashing money about in the hope of attracting more money.
Sorry if that's way off tack, and hoping that no-one is offended by mention of the Bible...

lostinrates

Poppy_Golightly wrote: »

Disagree, plus they should be made to read and understand this story which has been highlighted in many books about wealth

"Millionaire and the Fisherman

A businessman took a vacation to a small coastal Mexican village on doctors orders. After a phone call from home that upset him, he walked out on the dock and saw a single fisherman in a small boat with several large yellow fin tuna. The businessman complimented the fisherman on the catch.
The businessman inquires, "How long did it take you to catch the fish?"

The Mexican answers, "Only a little while."

"Why don't you stay out longer and catch some more fish, returns the businessman."

"I have enough for my family and to give to some friends," the fisherman said as he unloaded the boat.

"Then what do you do with the rest of your time?"

He smiles and says, "I sleep late, fish a little, play with my children, take a siesta with my wife, and stroll the village in the evening while I sip wine and play guitar. I have a full and busy life, senor."

The businessman laughs. "Sir, I have an M.B.A and can help you. You should spend more time fishing so that you can buy a bigger boat and hire a crew. Before you know it, you can buy more boats and increase the haul."

He continues, "Instead of selling to a middleman, you could sell directly to customer,then you could expand the enterprise.The best part is that you could eventually sell the business stock as an IPO and become a millionaire."

The fisherman asks, "How long will that take?"

The businessman replies, "15-20 years, 25 tops"

"Then what?"

"Then you would retire and move to a small coastal fishing village, where you would sleep late, fish a little, play with your kids, take a siesta with your wife, and stroll the village in the evenings while you sip wine and play guitar with your Amigos..."


I would like to think I am like the fisherman (except I can't play the guitar!)




L xx

What a super, super story. I love it.

But:o:D the fisherman cannot be said to be living with a poverty mentality imo. Both in fact......sipping a little wine each evening is hardly scrimping, and in attitude....where poverty truely restricts. He appreciates the worth. I think that answers a different attitude to the one posed in the op, personally. But i do nevertheless think it is very wise.

Ben84

Mistral001 wrote: »

I have experienced it as well. Actually it was shoes, not boots and they were plastic and not cardboard.

I usually buy Clarkes shoes from a discount store. Since Clarkes shoes are about £40 to £60, the average discount price I paid was maybe £25. Last year I just could not afford to buy these shoes, so I decided to go to a few budget shoe shops. I could afford £8 and that seemed to be a fairly standard price for an economy pair of shoes, but they were plastic. I bought them as they looked OK and I thought nobody would notice the difference.

Plastic shoes lasted only four months compared to the Clarkes which usually last about two years. Hence cost per year for plastic shoes is 3x8 = £24 and cost per year for expensive leather ones is 0.5x25 = £12.50. The plastic shoes work out almost twice as expensive.

OK the clever and rattional people will say that saving up and buying the leather shoes is the obvious choice, but what if it is not a choice and you do not have the extra money for the leather shoes>

That's where I was and now I would say the lesson I learnt is to go on eBay, the charity shops or car boot sales and buy a good item at a cheaper price. Quality second hand is a way to save some money right now and get off the endless cycle of replacement so common with badly made stuff. So, if you can't get better quality by spending more you need to find better quality at cheaper prices.

Austin_Allegro

If you read the book 'The Millionaire Next Door', it shows that people with high net worth - ie, money in the bank - tend to live 'frugal' lifestyles, not flashy ones.

However, I think there is some truth that 'money attracts money' and if you live like a very poor person, you are less likely to come into situations and meet people who could make money for you. Penny wise is pound foolish, as the saying goes.

I think there is such a thing as a 'scarcity mentality', for example if you are single and convince yourself that a good man/woman is impossible to find, when you meet someone you like, you will act so desperate that you will put them off!

Of course, none of this applies if you're really o/s and realise that the best things in life are free!

Mistral001

Ben84 wrote: »

That's where I was and now I would say the lesson I learnt is to go on eBay, the charity shops or car boot sales and buy a good item at a cheaper price. Quality second hand is a way to save some money right now and get off the endless cycle of replacement so common with badly made stuff. So, if you can't get better quality by spending more you need to find better quality at cheaper prices.

I think you are generalising here.

I think it might be possible to get a pair of secondhand mens shoes at a car boot sale, charity shop or on ebay for less than the £8 I paid for the plastic shoes in the shops, however you will probably have to make several journeys these place before you get something that fits.

I once bought a pair of working boots for working in the garden at a car boot sale, but in all the dozens of car boot sales I have been to, I have never seen any mens shoes for sale. I have seen some mens shoes in charity shops, but they are few and far between and usually very expensive shoes marked down from £80 new to aybe £20.

I must say I have never thought of buying shoes on ebay, but is it a realistic option with P&P costs and the fact that you cannot try them on?

Molly41

scrabbles wrote: »

Molly, I'm sorry you had an unhappy childhood. I don't believe parents have any obligation to spend money making sure their children 'fit in'. They do have an obligation to try and make sure their children do not endure constant misery. Not necessarily through consumerism.

I did not have any new clothes growing up - not even underwear. Everything was passed down from older siblings, extended family, or from charity shops. I had a good many fewer toys than most of my friends and most of these were not new either. What I did have was the total, unswerving knowledge that my parents loved me, completely and utterly. So I was never unhappy or insecure through lack of 'stuff'. I did encounter bullying at times but I don't know any child that has not - you are always 'different' to the crowd in one way or another.

I have that to this day and I have never questioned whether my parents could have spent more on us kids rather than on investing in their future (on reflection they almost certainly could have) and I have never questioned what they do with their money now. It's their money, to spend - or not.

I'm sorry that you were unhappy as a child. Hopefully now you are an adult who can make her own happiness. You seem to have unresolved issues regarding your upbringing. Money seems to be the peg you hang these on. I hope you find a way to resolve those soon.

Well thank you for that. I really appreciate your psycho-analysis - you are obviously a much better person than I am!

oldtractor

I find it easier to go without by choice than have to. I have been in the position of having to go without and its miserable. far better to choose to,save what you haven't spent and at least there is some rainy day money or money to spend on something else if you prefer.