Backlash?

culpepper

What an interesting thread.
I was reading a book a while ago about thinking rich.
The author (cant remember who she was) stated that her money thinking had begun in childhood and that if we thought back to our first rememberance of realising money was a bartering tool(rather than something round you had in a novelty money box) we might find our earliest memory also coloured our money attitudes.
My first (about 5years old)was when I was playing with a friend who lived in our house(we shared a house with 4 other families ,all having sections to ourselves but one garden), she showed me her sixpence pocket money and said she was off to the sweet shop to spend it. I realised we didnt get money every week for sweets but every now and then my dad would give pennies or 3penny pieces for rewards and that if I saved them up,I could go to the shop with her and choose sweets too although not weekly.
My whole life has been governed by that. If I want something,I save for it.
OH said his first money rememberance was that the 6pence he was handed on saturday was not enough. His whole aspect on money is equally true to that early thought. He always wants to have more ,his money never reaches his wants.
The book stated that if we think rich we are rich and she didnt mean we should all go out and spend, spend, spend. More, that we should see our half full glass and say to ourselves,I am rich because my glass has something in it rather than I am poor because half my water is gone.

chimp_choker

chevalier wrote: »

I think the real problem is the instant gratification thing. It is not just spending money, it is spending money stupidly. Ie you want a HD tv see one in curry's and buy it there and then. Whereas if you were spending the money intelligently you would research that tv online, see where you could get the best deal, whether you could get cashback and THEN make the purchase. You still end up with a lovely tele, BUT it takes you an extra day or two to own it.

Strike a chord will you please !! We bought a tv about 4 years ago in the dark ages ( pre HD,lol) but it was on CC and I distinctly remember saying to my wife... "But that one round the corner is only £500 more and it's 2 inches bigger"!! The one we bought ( the big one )was 42" screen and it's a big heap of s*** having gone wrong 5 times in the first 12 months... The thing was we could put it in the van and watch it that night and not have to wait for two days for delivery. Oh how I've learnt since being on this site... thanks to all for helping me reform....lol
chimpy

chimp_choker

Pobby wrote: »

What brought it home to me,we were standing by a busy main road and a very flash BMW went past.He said``Look at that guys life,he is probally up at 6am,commute into London,days work,home in the evening.What for,just to own one of those.Me I getup at 10am,look out of the window and if it`s pouring with rain I might well go back to bed.``

Listen to the song Power windows by Billy Falcon........ Society in a song...

chimp_choker

fc123 wrote: »

I haven't put a sign in the loo stating "Only 2 sheets to be used"

Now that is extreme !!!!
Ask any ex soldier and they will tell you you need 3 sheets... ito scrape, one to wipe and one to polish... at least so my old QMSM said...lol...

chimp_choker

culpepper wrote: »

What an interesting thread.
I was reading a book a while ago about thinking rich.

My whole life has been governed by that. If I want something,I save for it.
OH said his first money rememberance was that the 6pence he was handed on saturday was not enough. His whole aspect on money is equally true to that early thought. He always wants to have more ,his money never reaches his wants.
The book stated that if we think rich we are rich and she didnt mean we should all go out and spend, spend, spend. More, that we should see our half full glass and say to ourselves,I am rich because my glass has something in it rather than I am poor because half my water is gone.

this is true and i remember a quote from a book called the richest man in Babylon where one of the characters would save 10% of everything he got. He never missed this 10% and he become very wealthy.
I'm rich, very rich indeed and I count my blessing daily. My richness comes from having a lovely wife who is strong, a well balanced son in uni ed and food and drink, however small the portion daily. Inner peace needs working on but I am rich in that also... (cash flow is a problem there) but money... that's what others chase now.

fc123

I read "Enough" by John Naish 3 weeks back....it's just been published so no P/Back yet.
Fantastic read and it does acknowledge that "enough" (of varying things) comes at different points in ones life.
Deff worth the reading time.

My dear dad has lightened up over the years.......but the chancellor will gain a big chunk in the end.

Incidentally, his miserliness came from growing up with having baliffs at the door during his childhood plus other money problems......so the trick is to find the balance.
Difficult with all the marketing targeted at us continually.

Pobby

I read this book when it was first published about 5 years ago.Being mse I ordered it from the library lol
http://www.dailyreckoning.com/LP/EmpireofDebt.html
Frankly it blew me away.Hence this has been my backbone to my way of thinking.

EdInvestor

ZTD wrote: »

There is good debt and bad debt: Good debt is credit that is spent on production - however you wish to define production - and that produces more than it costs in interest.

[/quote]


"Good" debt is actually investment.Whether it's a mortgage to enable you to buy a home - a long term investment in shelter with a potential for extra income on the side - or a student loan to enable you to invest in knowledge and skills to pursue a good career paying a good income.

It's possible to see other types of spending as good investments: quality food can be an investment in health, quality clothes can look better and last longer compared with cheap stuff, a quality new car may be cheaper to run and have a higher resale value than a cheap secondhand vehicle with a poor maintenance record.

Most people are well aware of the difference between spending and investing even if they don't want to admit it to themselves.

Pobby

Well things have moved on since I originally posted.Starting to really feel the change in sentiment.Bearish opinions on almost all things financial.From my point of view,business is getting VERY,Very tough.Has the spending spree finished.Sure seems like it.The banks seem to be running scared.Umm,like didn`t they realise that if you keep chucking money at people with scant regard to the means that it was to be paid back,then surely youare asking for trouble.