What's it like having and earning loads of money??

Flatulentoldgoat

ratechaser said:

Ray_Singh-Blue said:

Interesting thread title containing 2 questions with different answers.

My view is that having loads of money is empowering and liberating. Your choices open up.

Earning loads of money on the other hand, is largely difficult and stressful. You have to do stuff you may not want to, at times you may not want to.

Top prize is to have one without the other. A very few people get lucky. But most people who aspire to have loads of money, must a) first earn it, and b) not spend all of it.

And c) have an exit plan to fully enjoy it at some point.

That's the really tough one, as I am finding out!

How come?

MrBrindle

£45k at 19? Sounds like a dream to me, I'd love to earn that sort of money right now.

I'm 34 and resigned to the fact I'll only ever earn anything between £20k and £30k due to my line of work (graphic design) and rural location (West Wales). I love living here so wouldn't move for better work opportunities.

I've been the only wage earner in our household for the past 6 years, and despite also receiving child benefit and tax credits for our two children, life has been tough.  I barely spend money on myself, and haven't put a penny aside for years.
We've been dipping into savings for the past 2 years as well.

 I love cars, and it makes me all sorts of bitter seeing all these 70 plate cars driving around, and I'm still in an 11 year old Peugeot 207.

I'm not saying money directly buys happiness, but earning more would make my life a whole less stressful, thus achieving a happier state of mind.

I'm also unemployed right now...............life's a joy.

Flatulentoldgoat

MrBrindle said:

£45k at 19? Sounds like a dream to me, I'd love to earn that sort of money right now.

I'm 34 and resigned to the fact I'll only ever earn anything between £20k and £30k due to my line of work (graphic design) and rural location (West Wales). I love living here so wouldn't move for better work opportunities.

I've been the only wage earner in our household for the past 6 years, and despite also receiving child benefit and tax credits for our two children, life has been tough.  I barely spend money on myself, and haven't put a penny aside for years.
We've been dipping into savings for the past 2 years as well.

 I love cars, and it makes me all sorts of bitter seeing all these 70 plate cars driving around, and I'm still in an 11 year old Peugeot 207.

I'm not saying money directly buys happiness, but earning more would make my life a whole less stressful, thus achieving a happier state of mind.

I'm also unemployed right now...............life's a joy.

Damn I hope the situation improves for you

Flatulentoldgoat

MrBrindle said:

£45k at 19? Sounds like a dream to me, I'd love to earn that sort of money right now.

I'm 34 and resigned to the fact I'll only ever earn anything between £20k and £30k due to my line of work (graphic design) and rural location (West Wales). I love living here so wouldn't move for better work opportunities.

I've been the only wage earner in our household for the past 6 years, and despite also receiving child benefit and tax credits for our two children, life has been tough.  I barely spend money on myself, and haven't put a penny aside for years.
We've been dipping into savings for the past 2 years as well.

 I love cars, and it makes me all sorts of bitter seeing all these 70 plate cars driving around, and I'm still in an 11 year old Peugeot 207.

I'm not saying money directly buys happiness, but earning more would make my life a whole less stressful, thus achieving a happier state of mind.

I'm also unemployed right now...............life's a joy.

Any luck on the job hunt?

Fighter1986

Flatulentoldgoat said:

One of my friends has been bragging about how he just got a job paying £45k! He's only 19 and has been going crazy posting all this stuff he can now afford, it's like he won the lottery. Wow. To be fair I think hes spending a lot on his girlfriend and she's not really worked much before. Neither me or my social group can really fathom making so much, everyone I know is either on minimum wage or around 18-20k per year (full time)

It must be amazing earning that much, I'd probably spend it all on clothes or something.

If he's bragging, he has a lot of growing up to do.

How much you earn isn't what's important.

What is important in life is

• Understanding what it takes to make you worth a certain amount of money
• Doing what's required to make you worth that amount if it's something you wish to pursue 
• Accepting that your choice makes you worth the amount you are currently worth if you don't want to do what's involved in making yourself worth more
• Understanding what you can reasonably expect lifestyle wise within the earnings you can achieve
• Living within those confines 
• Keeping your status private and embodying nobility, whether you're a higher rate tax payer or on minimum wage

If I can look back on my sixteen years of adulthood thus far, I can safely say that the times I've accepted my circumstances for what they are have yeilded much greater happiness than the times when I may have been earning more, but at the same time expecting more without taking the necessary action (e.g. learning new skills, taking exams, and gaining extra qualifications).

Your state of mind around your current life is far more important than the number on your payslip.

My current state of mind around my current circumstances is that which is wholly accepting of the salary I currently have, being very grateful for it, understanding that I am worth what I am worth today because of the qualifications I gained last year in my spare time, and understanding a clear path ahead of being able to make myself worth more should I continue along the path of education in my spare time I have embarked upon. 

I'm not pressuring myself, nor am I being complacent. I simply accept my current status, accept what it allows me to achieve in the financial world, and have a clear understanding of the path ahead of me if I wish to improve my worth. 

There are plenty of people very happy living noble, respectable lives, raising happy, gracious children on mediocre incomes; and plenty of people on higher incomes who are self-righteous a******** raising ungrateful arrogant little s******** of children. 

Money does not maketh the man. 

ginger_chocolate

Up to a certain income level, things are a struggle whatever you do (I'd say around 18k a year for a single person, a bit more than that for someone with dependents). Above that I think the secret to feeling wealthy is to spend as little as possible on the things that don't matter to you, so you can afford to splurge on the things that do matter to you.
e.g. I really do not care about having a fancy sports car, so I drive a cheap one. I don't care about living in a massive house in a posh area, so I live in a  small terrace in a traditional working class area. I don't care what brand of baked beans are in my cupboard, so I buy the cheapest. I *do* care about going on good holidays and having nice toiletries in the bathroom - so I spend a lot of money on those things. My income is only slightly above average, but I feel wealthy enough because I can afford to live a life that works for me. If I earned twice as much I'm not sure what I'd do with it. There's only so many holidays one person can go on....

ratechaser

ginger_chocolate said:

Up to a certain income level, things are a struggle whatever you do (I'd say around 18k a year for a single person, a bit more than that for someone with dependents). Above that I think the secret to feeling wealthy is to spend as little as possible on the things that don't matter to you, so you can afford to splurge on the things that do matter to you.
e.g. I really do not care about having a fancy sports car, so I drive a cheap one. I don't care about living in a massive house in a posh area, so I live in a  small terrace in a traditional working class area. I don't care what brand of baked beans are in my cupboard, so I buy the cheapest. I *do* care about going on good holidays and having nice toiletries in the bathroom - so I spend a lot of money on those things. My income is only slightly above average, but I feel wealthy enough because I can afford to live a life that works for me. If I earned twice as much I'm not sure what I'd do with it. There's only so many holidays one person can go on....

Absolutely this! So many of my colleagues end up spending on 'stuff' across the board because it's seen as lifestyle progression. As for me, holidays and good food/drink are just about all I've really splurged on (oh alright, perhaps a bit of Molton Brown as well!) I've yet to find out what Mrs RC wants to really spend money on, but while I wait I won't be complaining 

Now all we have to do is decide what else we want to do with our lives instead of being corporate wage slaves. There are worse problems to have.

Ditzy_Mitzy

I don't earn 'loads of money' by any definition, but I am financially secure and relatively comfortable.  My income funds my lifestyle, which is neither luxurious nor threadbare.  I spend a bit on beauty treatments and cosmetics, clothes and cigarettes and going out; on the other hand I have an old car, go for years without holidays and care not at all for the latest technology.  I have some money left over at the end of the month, which gives sufficient spare for indulgences such as collecting twentieth century bric-a-brac.  
I used to earn less than I do now and led, by and large, the same lifestyle.  At the time, however, it was not really affordable and I struggled.  The difference is that, in those days, I used to think I would live differently if I had the cash.  Now I've got it I realise change is not necessary.  Equilibrium has been reached, and it's a nice feeling.  One of life's cruel ironies: it is perfectly possible, satisfactory even, to live with a degree of ascetism if such ascetism is one's free choice.  Deciding not to have the heating on is very different to lacking the monies on one's pre-payment key to fire up the boiler.  Of course, pre-payment and all the inferior rubbish foisted on the working classes by the modern Gradgrinds is more expensive than a good, honest middle-class monthly Direct Debit; that's another matter.  
Therefore, I think, it is possible for one to live modestly if one knows that it's not the be all and end all; that one could go out and have fun if one wanted to.  I can quite happily walk by travel agent's window or a car dealer's forecourt, look at what's on offer, and walk off without a hint of jealousy because I know that I can buy some of the wares.  It's the difference between being included and excluded, between declining a party invitation and not being invited at all.  
We should not, however, begrudge the upwardly mobile their pound of flash.  I could not, in good conscience, have told my Gran to make do with her old telly, rather than buying a new one, because she'd been making do since the day she was born.  Conversely, of course, there is a lot of making do one can do.  Thinking there isn't leads to accumulation of crap and, recently, ever more credit to buy it with.  But then you can't blame someone who has never had anything for wanting something, to do so is arrogant and shows a distinct lack of understanding.  
I don't know.  As usual, the free market creates more problems than it solves, but the bottom line is that it's nicer to have more money than you absolutely need.  

Fighter1986

Thank you @Ditzy_Mitzy - I've learned a new word today, and I like it.

Asceticism - severe self discipline and avoidance of all indulgencies. 

Nice. 

AskAsk

Fighter1986 said:

Asceticism - severe self discipline and avoidance of all indulgencies. 

well, that's me out then