Surrounded by "Big spenders"

Prudent

Generali wrote: »

A frugal lifestyle is no more moral than a spendthrift one. That's an idea that bugs the hell out of me: I earn a squillion squids a day but only spend 10 bob. That makes me better than you.

Balls does it.

It probably depends on your intent. If you are careful with money because you don't want to be a burden on family in hard times then that seems to have a good enough moral basis. There is no merit though in being penny pinching at other people's expense by holding back on your share of the contribution. I am a careful with money. Not because it makes me feel virtuous, but because it gives me more peace of mind. Like Chucknorris one of my ultimate treats is a country walk. Not because it is cheap, simply because the combination of nature and exercise is very relaxing and a welcome contrast to work pressures.

Jon_B_2

Whilst I don't think living off debt is necessarily a good thing. Anybody with close to £20k in a savings account and living frugally are only harming themselves.


Savings rates are abysmally poor and there are no guarantees that you will live to retirement.


A steady balance between the two (and some credit is not bad - a loan to buy a second hand car for example) will probably lead to the most happiness.


"I'm here for a good time, not a long time."

alberty

Got to think about the time value of money. When you're old you will probably be miserable no matter how much you've got, better to enjoy your youth than save every penny.

Out,_Vile_Jelly

I know two couples who've split up recently, and spending was a factor in both. It must be awful being the boring sensible one in a relationship and having to nag a grown man about their silly impulse buys (that were on credit).

I've always assumed my London friends all earn more than me, as I have an untrendy admin job. Yet when it comes to paying for holidays together, I'm routinely the only one with liquid savings who can pay the all the deposit and secure the booking.

caronoel

quantic wrote: »

Ok. Lets see. So I'm 29 and have 19k in my savings account, no debt and own 95k of my house having only owned it for 5 years. No I don't think that's the issue. I happen to know they are massively indebted.

Doesnt really sound like your financial position is all that much to crow about.

Personally, I've always seen life as being for enjoying.

Not much point in being the richest corpse in the graveyard.

lisyloo

Personally, I've always seen life as being for enjoying.
Not much point in being the richest corpse in the graveyard.

I agree with this, but I do want to comfortable in my old age AND enjoying myself.
I don't really under the comment about being miserable - is that if you don't have enough to put the heating on?? I undertand some don't have full health, but plenty of holidays, sports, hobbies,activities you can do in your 50's, 60's and 70's.

System

quantic wrote: »

Is it just me or do you guys feel pressure occasionally from being surrounded by this?

You must be a very insecure sort of person to bother two hoots what other people are doing.

lisyloo

You must be a very insecure sort of person to bother two hoots what other people are doing.

Actually most of us compare ourselves with our peers it's natural.
If we were surrounded by people without enough food to eat then we'd feel very rich indeed. If we were to dubai and everyone had sports cars and mansions then we'd feel poor.

I ask questions all the time.
Can I do things better? can I learn something from this person?
Nothing wrong with being curious.

caronoel

lisyloo wrote: »

I ask questions all the time.
Can I do things better? can I learn something from this person?
Nothing wrong with being curious.

Good point.

But the OP has already stated the he knows for a fact that the only reason people around him live better than he does is that they have overstretched themselves borrowing.

Sounds like the only thing overstretched is the OP's sense of jealousy and small minded begrudging of the success of others.

Still, at least he has £19,000 in the bank. Whoo! Hoo!

In the words of Yeats:

"What need have you, being come to sense,
But fumble in a greasy till
And add the halfpence to the pence
And prayer to shivering prayer, until
You have dried the marrow from the bone"

Carl31

caronoel wrote: »

Doesnt really sound like your financial position is all that much to crow about.

Personally, I've always seen life as being for enjoying.

Not much point in being the richest corpse in the graveyard.

Its not a bad position to be in, i think most could be proud of that

Considering the uk average savings pot is about £1k, its not too bad at all

Not everyone can be as (made up) rich as the folk on the MSE economy board