What is the difference between happiness and misery?

bonnie_2

we cant go out more it costs money and would mean rewriting the budget.

Conrad

!!!!!! wrote:

I have suggested on several occaisions that it is rarely flagrant overspending, and more often due to a change in circumstances,

Im not so sure. I run my own mortgage brokers and see many people in debt mire.

There is 1 common denominator that runs through every case Ive ever seen - 'failing to plan'.

WITHOUT HONEST SELF - EXAMINATION SOME PEOPLE FAIL TO ESCAPE DEBT MISERY AS THEY PLACE BLAME ONTO EXTERNALS RATHER THAN THIER OWN ACTIONS.

My brother is bankcrupt yet we both started from the same point. When I was poor I was careful, didnt borrow (no matter what), put money buy, lived within my means. He always spent all his money so he needed loans, then he had a baby, then his wife lost her job. As a result he went bankcrupt. Now he concluded 'external factors' were the route cause (ie having unplanned baby and wifes redundancy) but this isnt right, he had failed to plan.

I recognised that external events are an ever present danger, but by having savings & no debts I could cope with the unexpected.

Turning_into_scrooge

Conrad wrote:

Im not so sure. I run my own mortgage brokers and see many people in debt mire.

There is 1 common denominator that runs through every case Ive ever seen - 'failing to plan'.

WITHOUT HONEST SELF - EXAMINATION SOME PEOPLE FAIL TO ESCAPE DEBT MISERY AS THEY PLACE BLAME ONTO EXTERNALS RATHER THAN THIER OWN ACTIONS.

My brother is bankcrupt yet we both started from the same point. When I was poor I was careful, didnt borrow (no matter what), put money buy, lived within my means. He always spent all his money so he needed loans, then he had a baby, then his wife lost her job. As a result he went bankcrupt. Now he concluded 'external factors' were the route cause (ie having unplanned baby and wifes redundancy) but this isnt right, he had failed to plan.

I recognised that external events are an ever present danger, but by having savings & no debts I could cope with the unexpected.

May i ask if you yourself had a wife and baby at the same time as your brother? or were you single? a single person can live far more cheaply than a married one with a baby

ffs

Failing to plan - I see where you are coming from, but some plans can be self-fulfilling, and others could stop you from ever leaving your house in the morning.

If you openly plan for the possibility of divorce, I suggest you are likely to be considered very unromantic, and probably end up divorced sooner rather than later (and possibly before your plan has been fully prepared).

If you plan for the possiblility of a housing price crash, then you might never buy a home for fear of being stuck in negative equity, and unable to move to when you are made redundant and need to find work elsewhere.

If you plan for the possibility of becoming seriously ill, you would probably become ill through worrying about the cost of the income replacement insurance you have taken out.

If you plan for the possibility that your employer will steal your pension and go bust just before you retire, you may well find yourself losing the will to live altogether.

cgnao

I have planned to live within my means, never borrow and save a bit for the rainy days to achieve security and peace of mind. This has been a self fulfilling plan.

tinalives

bonnie wrote:

we cant go out more it costs money and would mean rewriting the budget.

Exactly!! Poor us - Literally!

ffs

cgnao wrote:

I have planned to live within my means, never borrow and save a bit for the rainy days to achieve security and peace of mind. This has been a self fulfilling plan.

In which case you have either inherited enough money to buy a home outright, or you live with your parents, or you have resigned to the insecurity of living in rented accommodation for the rest of your life. Others may not be so lucky, or willing to make those compromises.

ceegee

I found the calculation very interesting and wondered about how it would work out as a saving method. £10,000 in 10 years is excellent. Mind, I've always been hugely impressed by the power of compounding. Did anyone ever see that thing about Fiona, Fenella, Faith, Florence and/or whoever and how their savings compounded? Fascinating. Might see if I can find it and get a link for it, just in case anyone is interested.

ceegee

http://www.fool.co.uk/10steps/step1.htm

I hope that works and that it is OK to have a link to another site. Hopefully someone will put me right if I am wrong!

roversbabe

Malestrom wrote:

You people need to get out more! :rotfl:

I do - providing its within the budget