Living like rich people?

Jeems

Almost all the SOA's I see, people are saddled with high monthly phone and tv bills and store credit cards. I find it ridiculous, people need to live within their means - there's no problem waiting a while before buying a product so you have the money for it / it goes on offer etc.

Puddylove

It has been my observation that a lot of truly well off people from 'old money' including lords and ladies of my acquaintance could easily be mistaken for tramps in both their possessions and attire.

Sanctioned_Parts_List

Jeems wrote: »

Almost all the SOA's I see, people are saddled with high monthly phone and tv bills and store credit cards. I find it ridiculous, people need to live within their means - there's no problem waiting a while before buying a product so you have the money for it / it goes on offer etc.

Selection bias - this is the "Debt-Free Wannabe" section of the board :rotfl:

ReadingTim

Sanctioned_Parts_List wrote: »

Selection bias - this is the "Debt-Free Wannabe" section of the board :rotfl:

True. But there are lots of categories in the SOA from the essential utilities like rent, council tax, gas/electricity right down to holidays, cigarettes and alcohol.

Yet time and time again it's the "Satellite /cable TV" and the "Mobile Phone" categories where those who are most up to their eyeballs in debt are p!ssing away hundreds of pounds every month. Selection bias?

teddyclown

I like that Terry Pratchett quote, Mojisola - it reminds me of this passage from 'Hand to Mouth; Living in Bootstrap America' by Linda Tirado. It's a brilliant book, and I can highly recommend it. It's so true:

'In the long term, it makes way more sense to buy a good toaster. But if the good toaster is 30 bucks right now, and the crappiest toaster of them all is 10, it doesn’t matter how many times I have to replace it. Ten bucks it is, because I don’t have any extra tens.'

Mojisola

teddyclown wrote: »

I like that Terry Pratchett quote, Mojisola - it reminds me of this passage from 'Hand to Mouth; Living in Bootstrap America' by Linda Tirado. It's a brilliant book, and I can highly recommend it. It's so true:

'In the long term, it makes way more sense to buy a good toaster. But if the good toaster is 30 bucks right now, and the crappiest toaster of them all is 10, it doesn’t matter how many times I have to replace it. Ten bucks it is, because I don’t have any extra tens.'

It even goes against the poorest people in simple things like offers in supermarket. I had a friend who was having to manage every single penny to make sure they didn't slide into debt - she used to get cross about the 'buy two, get one free' offers because she usually couldn't take advantage of them.

takman

enthusiasticsaver wrote: »

My OH and I opted out of the accumulating "stuff" lifestyle years ago and it has probably saved us a lot.

What we buy we research thoroughly before getting it and do not shop for things unless we actually need them (notice I say need rather than want). For us it is about quality rather than quantity so consequently only just changed our TV after 15 years and I am still typing on a 8 year old laptop. I buy clothes when I need them rather than when the shops put out their new ranges and make a habit of getting rid of old outfits when I buy a new one.

For many people, they enjoy shopping so I guess they would hate to live the way we do but I can honestly say that I would rather do almost anything else rather than go shopping. I am also not bothered about keeping up with the "Jones's" and don't splash out on expensive branded clothes, cars or gadgets. I also hate clutter and when we travel, which we do often, we never bring back tat as souvenirs.

I am not sure however that we would call ourselves rich but more comfortably off. I don't know any really rich people but would imagine they are like anyone else and some spend and some save.

I agree with what your saying but I would be interested to know how you can justify getting a new TV as a "need". Even if you had a TV and it broke you don't "need" a new one and if you didn't have one at all you would even save money by not paying the TV licence!.

Almost everyone buys things they "want" and it's not a bad thing as long as it is bugeted for and you don't borrow money to buy it!.

ratrace

Its about finding a balance without going to extremes, In my case for example I dont smoke dont go out partying every weekend spending ridiculous money, only buy clothes/shoes when I need them, have a £10pm giffgaff sim only phone, Only pay £10 for the internet (including line rental)


My weakness is cars I love my cars always have done currently have four cars, an old mini that im restoring, bmw convertible as a weekend car, vauxhall astra diesel for commuting, skoda fabia as a run around when other cars are in for repair,


Yes you cant take it with you when you go, but you still have to save for emergencies and big off's etc...


I know people who have a fair bit of cash but are extremely tight they squeak, like I say live life, enjoy it within means and make fond memories to look back on when you old and knackered lol

Sanctioned_Parts_List

ReadingTim wrote: »

Yet time and time again it's the "Satellite /cable TV" and the "Mobile Phone" categories where those who are most up to their eyeballs in debt are p!ssing away hundreds of pounds every month. Selection bias?

Yep, I stand by my statement. Debt comes from spending more than you earn, which comes from not being able to cope with the discomfort arising between desire and gratification. That will also apply to inability to tolerate boredom and desire to own the latest iThing. Hence cometh the subscription TV and ridiculous phone tariffs.

EDIT: to acknowledge the few people in extreme debt because life dealt them a blow from which they couldn't recover - illness, absconding partner, unexpected divorce, that sort of thing.

Teacher2

I live near the two most expensive towns in the country (both on the Chiltern Line to Marylebone ) and when my DH and I lived like paupers to afford prep school fees we hobnobbed with the the well off, the rich and the super rich: professionals to bankers.

Some, who were first generation rich, liked to live high and spent their money on cars, holidays, clothes, 'stuff' and bling. Often they were geared to the nines and, when a financial glitch occurred, they would literally disappear from the scene and the kids would be suddenly whisked out of school, the poor things. The house, the car and the things would be gone as they were all on tick.

Others were more of the 'old money' generation and they do, indeed, drive round in battered classics and wear old and venerable expensive clothes. They are, needless to say, all still around.

We resisted the temptation to move nearer the rich as we thought we'd always have our noses up against the sweetie shop window looking at the things we couldn't have. We stayed in our lovely, quiet, unfashionable village and cultivated our cheap and satisfying lives. We read, walk, cook, drive cheap cars, garden, visit NT properties and galleries and museums, look after the house and garden and go for cheapie breaks in the UK. We buy very little new, save up for what we do buy and look after what we have. We are very happy.

There is one drawback though. Others we know who live the high life on credit cards and who are always short of cash resent us and imagine we have millions stashed away when we don't. They think that the fact that we do not moan about being broke all the time means that we earn huge salaries which is a bit ridiculous when they all know I retired on an actuarily reduced pension to escape burnout. My DH has recently had his pay cut by a fifth. If we hadn't been frugal we too would have 'disappeared'. You can't win!