How we think about money

[Allsmiles]

Did Dave Ramsey program about 10 years ago. Been debt free for about 8 years now. When we get a new car, 13 payments and it's done. Thinking hard about retirement and trying to talk wife into it also.

 

[Smoothrj]

I drive a $60k sports car...it's 12 years old and was paid for 10 years ago. Seems this concept is unthinkable to some young people today.

Drive my last truck 20years …5 years deep into my new one

 

[GFB]

I read "Wealth without Risk" back in the '80's as a young man. Not sure how many of the lessons I learned still apply but it was very Clark Howard-ish in the approach to life and money.

Did Dave Ramsey program about 10 years ago. Been debt free for about 8 years now. When we get a new car, 13 payments and it's done. Thinking hard about retirement and trying to talk wife into it also.

A lot of what the personal finance gurus say seems to be common sense lessons many of our grandparents could have taught us. But it's still relevant today and valuable having people who can communicate this fairly simple stuff effectively.

 

[GFB]

Wealth building starts at a very early age. I see these ads stating, it's never too late. /...I mean, overtime, weekends, night job, whatever when you are young and save. Young folks now want to work a little and play a lot. They will be crying in 30 years. Ends don't meet. Victims. Need more government

Delayed gratification is no fun but so is being broke near retirement, it seems.

 

[10thmountain]

I'm not rich, but I feel like I've done pretty ok for myself because I live frugal as ****. Fancy things don't interest me. And I've never financed anything that was going to depreciate in value.

Like right now I need a zero turn lawnmower, I got friends and family telling me to just finance one and all about how they financed one at 0 interest.

But I'll do what I always do and wait till someone who needs cash sells me their 5 year old lawnmower for a fraction of what they paid for it. Happens every time.

Thats the secret. You got it.

 

[KSouth]

What is this money y’all speak of? I’m just trying figure out how to get on the other side (where my money goes). If anyone can help me out be appreciated.
Only thing I can think of and someone needs to hear this.
* Do not get married!!

 

[GeauxLSU]

People just need to take a hard look at how they define success. I set a goal AND STUCK TO IT, to not have a mortgage by age 50. As cool as it would be to have a new nice ride, the same ride I've been driving for 22 years with no mortgage is MUCH cooler.
And oh yeah, take care of your stuff!

 

[GFB]

People just need to take a hard look at how they define success.

I think that's the underlying point of the video too.

 

[moosensquirrel]

There is no such thing as "zero" interest. The desired return is simply added to the principal up front and the commercial paper generated discounted to the highest bidder.

If your investment return does not exceed taxes and inflation, you are still going backward....and accelerating.

 

[Fatal_Bert]

There is no such thing as "zero" interest. The desired return is simply added to the principal up front and the commercial paper generated discounted to the highest bidder.

If your investment return does not exceed taxes and inflation, you are still going backward....and accelerating.

Exactly right for most stuff you buy like furniture and lawnmowers but I've taken advantage of credit cards with 0 interest for 18 months. It's truly a free way to borrow money if you're responsible.