Financial Samurai

A lot of people I know, especially Baby Boomers, rationalize it with an “everybody is doing it” attitude. Heck, even the federal government does it. They always are expecting that someone will step in if it gets too bad.

There’s also the “you can’t take it with you” attitude. If you die with a bunch of debt, at least you had a lot of fun.

It all comes down to comfort. A hundred years ago you could be thrown in prison for debt, but the consequences have slowly been dwindling away. For these folks, building wealth means building a picture of wealth, because they can’t exactly walk around with an ATM receipt taped to their forehead to show how wealthy they are.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:26 am

I do enjoy the “you can’t take it with you mentality.”. Besides, if you die with $1 billion in debt, what are they going to do to you?

Becomes a moral issue I guess.

[Reply]

I haven’t ever been a person who spends more than they earn so I can’t say from experience. I would think a lot of people don’t know how much they spend each month which makes it easier to spend more than you earn. I also see a lot of recent graduates trying to live the same lifestyle their parents provided from them while they grew up except now the kids have an entry level salary that can’t afford the same lifestyle.

[Reply]

Michelle Reply:
September 11th, 2012 at 9:56 pm

I agree with this comment 100%.

I have one relative in particular who simply does not pay attention to how much she spends. She’s always had enough, so she just didn’t need to worry. (Plus, her parents once told them ‘money is to be spent.’) Moreover, her husband doesn’t like to discuss money or budgeting, which doesn’t help. Now that they’re close to retirement, they’re worried about whether they’ll make ends meet with less income.

So some of it is not paying attention, some of it is lack of communication, and some of it is feeling that a budget would be constraining or some sort of limit on their own personal freedom. Some of it can also be placing too much importance on certain sentimental possessions.

For example, I have a friend who works as a family financial planner. He’s been asked by local community leaders to provide pro bono counseling to help financially struggling couples from time to time. He once told me that of all the times that he’s been asked to step in, the families were all living beyond their means – usually because they had too much house. In only ONE case did the family solve their problems – by choosing to downgrade their housing. The rest simply refused to lower their inflated standard of living.

I also think A LOT of all this goes back to parenting. Some children grow up in financially savvy homes where the parents provide a good financial education and teach the value of giving up some things now in order to meet larger goals in the future. Other children do not.

[Reply]

psychology and education are two things I feel I see most often. I find it really sad. I personally think we should put out more education regarding financial matters in standard school hours.

But that won’t help everybody; one cannot force others’ decisions. I’d also say that people should be allowed to do as they see fit, but that I should not be screwed over as a result. That means: government lending takes on little default risk (like the stickiness of student loans through bankruptcy), and people receiving money for free not being able to be irresponsible.

I am in a unique situation where somebody close to me lives a completely government-subsidized life and has absolutely no financial sense despite being old enough to be my mother. Think “enough free money to cover all basic expenses but unable to prioritize rent over dresses and nights out with friends”. This burdens family members’ livelihood as they help out, they view helping someone else’s irresponsibility as an irrevocable obligation based on family ties … of course they can do that, but I personally find it amazing that they can deal with such a lack of respect towards themselves. Definitely an interesting (and IMO depressing) situation.

Oh – and there’s LOTS of credit card debt involved >_<

"building a picture of wealth, because they can’t exactly walk around with an ATM receipt taped to their forehead" – so true.

A friend just out of school was also surprised to hear the basic premise of "The Millionaire Next Door" while starting a first job along with the first dose of credit card debt. SMH.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:28 am

Good ol family obligation.

Seems to me that education is key and a slow weening off support might be necessary for rehab.

[Reply]

“Everybody except for the government knows that spending more than you make for an extended period of time leads to financial failure.” – and individuals do it without the crutch of eventually bringing in massive inflation to help out! (However, if the Government does it for them, inflation would be pretty good for debtors!).

[Reply]

You wrote, “when the majority of the world can’t even afford to pay cash for the typical $21,000 Honda Civic?”

The vast majority of Americans can’t even afford to pay cash for a Honda Civic!!! When I bought my Honda ACCORD in 2005 – I paid about $21,000 and yes I paid cash!

Why do people overspend – they care way to much what other people think about them!!! I make good money but I do not have cable, do not have a smart phone. I actually have a prepaid cell phone.

I could afford all the “necessities” that other American have that I do not – but I just find no need for all those necessities.

I absolutely love seeing people in less developed countries with very little money but BIG SMILES on there faces! Money does NOT buy happiness!!!!!

[Reply]

SZQ Reply:
September 10th, 2012 at 5:24 pm

I totally agree with you…people are way to concerned about what other people think of them at ANY COST! It’s very sad, indeed.

We are like you in that we, too, can afford many of the extras yet chose to do without them (cable, smart phone, flat screen TVs, etc.) We ARE the millionaires next door and nobody would ever know what we have by the simple, very happy life we live. Husband just took early retirement and we are living the life! People will say “How can you guys afford to retire so young?” I really want to respond, “well, we don’t buy a new car every 3 years, or go out to eat 5 times a week, or buy designer apparel, or live in a big-ass house that we don’t need, with BIG bills/expenses to go along with it and all of the “stuff” you need to fill it, should I stop now?”

So many people have this “instant gratification” attitude – “I want it, I deserve it” that makes me crazy! But I guess they are sacrificing their future freedom (retirement) for the instant pleasures they feel they deserve and MUST have now. Many of them will be working till they die, unfortunately.

I also agree that you can NEVER start teaching children about money (budgeting, saving) too young. I am constantly talking, showing, helping my nieces/nephews with money and explaining WHY they need to save, give to church, spend just a little of what they earn. I hope that it will have an impact on them later down the road and save them from financial suicide that so many are committing these days.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:33 am

Congrats on your husband’s retirement!

I have a feeling the Financial Samurais here are plentiful and rich in life.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:30 am

David, I truly hope Americans and other folks who live in cushy developed countries can see the world and specifically developing countries more.

We need to get out of Our bubble!

[Reply]

David M Reply:
September 11th, 2012 at 11:08 am

Amen!

I love my time in the developing world – some of my greatest memories are from my time in Laos – 3 seperate 1 month long trips. The children and also the adults just have a love of life.

This year we are of to Sri Lanka for a month – have never been and am looking forward to it.

[Reply]

I think it is the habits that make or break you. If you start spending all you make out of school it is quite hard to reign this in later in life… even worse if you are comfortable carrying outstanding credit balances.

-Mike

[Reply]

People are stuck in a negative debt cycle and she needs help. Only a few people can get out of debt by themselves if they are already in a negative cycle. It’s easier to stay the course and keep doing what they were doing. Perhaps she can start reading blogs like man vs debt to get some inspiration. If she need more help, then perhaps she should try talk therapy. It’s not cheap, but if it can change her behavior then it’s a good investment.

[Reply]

In Nancy’s case, there is definitely a self-esteem problem, that therapy could solve. For other people it’s peer pressure that can go a long way. My friends have a hard time understanding why I travel all the time and work so little, and when I say it’s because I don’t drop $100 a night on drinks or $300 on shoes, they just shrug. The transition to normal spending is just as hard as normal eating for an anorexic or a very fat person, you need to go deep inside to find the reason why you spend too much in the first place before you can try to fix the problem.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:35 am

You’re right. There has to be something deep inside of Nancy that happened that I or many other people dont know about. I’m not at that stage in our relationship to find out.

[Reply]

I used to overspend because I was depressed about not being able to find a better job and having crappy retail hours at the one I was at. When my mom was sick, I spent money because I knew that there was nothing that could be done so it was a kind of I’m mad at the world spending and partly a make her as comfy as we can (I spent a lot on extremely soft/warm flannel pjs for her and pillows) I started to break out of both of those cycles when I realized what I was doing but it was a bit too late. I’m now paying for that by not having a lot to spend now because I’m paying off debt.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:36 am

At least you stopped and are heading in the right direction! Going to India really changed my perspective on how good we have it here in the US.

[Reply]

I spent everything and more that both the spouse and I earned on hoarding because I was depressed, anxious and unwilling to face and deal with my traumatic childhood. Once I hit bottom, the hoarding situation began to turn itself around but it has been 4 years of constant attention to why I did what I did and how to stop doing it again in the future. It’s difficult to change because sometimes the realization of what I’ve done is worse than the depression and anxiety caused by the hoarding itself. I just know now that hoarding is not the answer.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:38 am

You make a good point. The realization of what we’ve done is hard! To own up and face stupid mistakes is painful. Mine was buying a vacation property. I was a dumb ass because of timing and extrapolation of my income and live with it by beig reminded every month when the mortgage is due!

[Reply]

My 63-year old secretary just went out and bought a new $35K SUV. She told me that she “deserves it.” But I really think she was jealous because her retired postal worker husband had just bought a $30K full size pick-up truck. Funny, now $65K in brand new motor vehicles sit outside in the driveway while the 2-car garage is jam packed with worthless junk.

Oh yea, they’re still paying $1200 monthly mortgage on their $80K home bought in 1986.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:40 am

Perhaps your secretary has lots of money in the bank?

That is a hefty price to pay though given I assume she eans less than $350,000 a year (1/10 rule).

[Reply]

I think it’s sometimes because we don’t really visualize our future selves, so we have an easier time screwing our future selves over. It’s interesting, b/c just this weekend, I bought my cousin and her husband dinner, to thank them for letting me stay at their house, and I thought, “oh, well, I’m not sure if I can afford this, maybe I should turn off the auto-pay-entire-balance thing” and realized that it can be very easy to slip back into credit card debt.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:41 am

Definitely some truth to that. Dinner is a great gesture since you would have spent it on hotel costs anyway. Nice job on the auto pay! Maybe I should consider that given I know what my expenses are real well now that I don’t work anymore.

[Reply]

You definitely hit on the big ones. Keeping up with neighbors really has taken on a new ugly face when facebook and twitter hit the scene. Now we have 249 neighbors to keep up with (or however many fb and twitter friends you’ve got). For my wife and me, we realized early on that we can’t afford to do that, we can’t keep up with people, so we don’t even try. But getting to that mindset can be hard… and if I didn’t have my wife insisting on us not keeping up with people, I’m not sure I’d even be to this mindset yet!

[Reply]

Jason Clayton | frugal habits Reply:
September 10th, 2012 at 2:00 pm

Very true – I didn’t think about keeping up with the neighbors and including facebook & twitter in the list. I guess Bill Gates could keep up, but that’s about it.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:43 am

Man, that is right! In the past, we used to only have 4-5 real neighbors, now we have virtually hundreds or thousands for some!

[Reply]

I don’t get it, but I don’t have any debt. I think it is important to help coach friends like this into a healthy spending and net worth situation given their income and means. I have helped multiple friends out of debt, and she sounds like someone who could be doing well if she puts her mind to it.

[Reply]

Man, this was a good article, bravo. Ok enough ball washing. What really struck home with me was the social media aspect. It’s so true that with how connected we all are and everyone constantly checking in and posting pics of their latest trips, it’s almost a competition to see who has the best life. I think if we could take a step back for a moment we would see that we don’t need to be competing with everyone for attention. Maybe I’ll go off FB for a while and see how it feels :)

[Reply]

“The best thing to do is to shutdown the constant checking and reflect on what you already have.”

^ This. Contentment is key to really enjoying your own life and stopping the cycle of unending spending.

Also, I love your last point. As an avid promoter of all things budgeting, I think that without one you are setting yourself up to fail. And it’s so true, the first few months on a budget are frustrating to figure out, but once you do, it really is pretty automatic. And you then stop wondering where all those lovely dollars have run off to.

[Reply]

I think depression is a big cause for over spending as well.

I’ve seen this first hand with loved ones. They will spend to make themselves feel “happy”, and then it becomes a cycle that is extremely difficult to break. For this, you have to treat the depression first, and then insert knowledge on how to properly manage money.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:44 am

I get depressed spending too much money, so I don’t.

Perhaps people who spend a lot have a higher threshold for depression as a result?

[Reply]

“When we lack self-esteem, we turn to things that make us feel better about ourselves.”

This sounds like something Suze Orman says: “When we feel ‘less than,’ we spend ‘more than.’ ”

I think a lot of it also has to do with the behavior you see growing up. If you never heard about saving, budgeting, etc. as a kid, you might be less likely to do it as an adult.

[Reply]

The Facebook and twitter effect on “keeping up with the jones’” is huge! Did you know the latest trend in vacations is to hire a professional photographer to take pictures so you can post about your wonderful vacation when you get back? It’s insane!

[Reply]

Financial Samurai Reply:
September 10th, 2012 at 5:36 pm

Wow! Now that is an ingenious business move! Take advantage of our social vanity!

[Reply]

There are a lot things that into it. People spend because shopping is relaxing or their recreation. Buying things helps satisfy some psychological need. The only solution is to make the goal more important than those other needs.

[Reply]

I donno I can’t relate. I do understand the reasons why though.

[Reply]

My wife has a tendency to look at other women’s purses and tell you if it’s real or fake. These are $2500 LV bags and give her a judgment if they’re doing well. The problem is anyone can afford that, even the minimum wage person who lives at home. She loves LV and before we got married she loved the comments people made when she got a new bag. How long does that last? Add up all the comments and that amounts to an hours worth. How many hours do you need to work to get a $2000 bag to get an hour of compliments?
Real wealth and success is often not visible, (investment accounts, high cash savings, muni bonds etc.) I was watching a JA Rule interview and someone asked him why he would pay $250,000 for a bracelet, and he said you can’t wear a bank statement to show how much you got out, but you can wear a bracelet. Priceless financial advise on NOT what to do.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:46 am

JArule makes a good point! Ha!

So onto your wife…. Does she still buy them $2,000 LV handbags? Or does se have enough? Is you commenting on her bag or beauty not enough?

[Reply]

charles@gettingarichlife.com Reply:
September 11th, 2012 at 8:16 pm

She hasn’t bought a bag due to us recently buying a house. Moving expenses,
furnishings and things for the house adds up so we’re a bit low on funds.
We bought a house in Kailua on Oahu, where I believe you wanted to eventually
move to.

I knew I was in trouble before we got married when we went bag shopping and I was
expecting a rack full of bags. Instead my wife likes those bags that has its own shelf
with a spotlight on it. LV is my nemesis.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:34 pm

Hahaha, nice. Well, if you are able to buy a house in Kailua, life ain’t so bad! I’ve got to check out your blog more!

I go back to Honolulu a lot. Maybe even end of this month or October. We should get some grub if so! I’m closer to the South Side Diamond Head area.

charles@gettingarichlife.com Reply:
September 12th, 2012 at 3:04 am

Next time you’re in Hawaii drop me a line and we can grab some grinds at Uncle Bo in Kapahulu they have the best pupus on the island.

I think that a lot of people are short sighted when it comes to money and things they want. They see the $2500 bag and say “oh, I can pay that off in 2 years”, but they don’t think about what else they could be doing with that money. Lack of knowledge definitely comes into it, but I think that the “I want what I want when I want” mentality that is all around us is the real cause. People don’t want to wait until they have enough saved up, they want it now. People rationalize purchases and talk themselves into buying things they can’t or shouldn’t afford all the time. I think that people need to start thinking longer term and working to delay their instant gratification urge – it will serve them well in the long run. Just my two cents, great article!

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:47 am

Thx AB. Or, “$2,500 is cheap compared to the $6,000 Hermes Grace Kelly!”

[Reply]

Another reason to avoid Facebook and their ilk.

I used to wonder if I was missing something, but Facebook et al. are just the current Century’s version of navel gazing, albeit in a group setting.

Fortunately, I’d rather put my money in the bank or investments than in frou-frou bling.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:02 am

Just wait until you get that lovely gf to woo! Then it might be bling, bling all the time!

[Reply]

Hi.. newbie here :)
After finishing college, I got a job to avail credit cards and loans. Boom! Then I got married, tamed my retail escapades a bit but still never understood how money works. Now after 10 years from college graduation, I am enlightened – by paying all the debt I accumulated all those years of ignorance.
Ignorance – I was raised in a family that never had a savings account. Father, a musician – yeah, starving artist. Mom – breadwinner who never get to make ends meet. There was no financial literacy at home so I spend what I get, even spend the money I hope to get on next payday.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:49 am

Welcome Shasha!

If you have kids, I’m sure they will get more financially literacy, and then the positive cycle ensues!

[Reply]

The big thing that I notice in my situation is that there is a push towards a lifestyle of consumer debt. “Get a job……..you need to get a house……start a family……” is the typical thing that i hear from parents and family. But most of them are saddled with tremendous debts that they are struggling to pay. I think what contributes to the mentality is the culture with having to keep up with the Jones’ or you’ll be left behind. For me, I never really got interested in having to own a lot of things, just enough things to be happy and most people in my life tend to think that is odd that I don’t want to have the life of buying things that I’ll never need.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 4:20 pm

Even… “get an education”….. which for the cost of college tuition nowadays, just doesn’t seem to be a slam dunk now.

[Reply]

I think everyone is right in that there is certainly a lot of vanity associated with consumer debt but I also think it’s a lack of education about the long-term effects of this debt as well.

Most people don’t realize until it’s too late. They think “I have plenty of time to pay it off” but there’s a HUGE price on that time.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:03 am

On the bright side, at least it feels good spending money you don’t have, until it doesn’t right? Otherwise, people wouldn’t do it.

[Reply]

I think you’re exactly right that desire leads to suffering. We really don’t need that much to survive and be happy. One simple essential that I am so grateful to have is access to free, clean bathrooms. May sound silly but after traveling to so many places where you have to pay to get in or simply can’t find one, I am loving how there are so many accessible facilities in the US. Does’t take much to keep me happy.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:23 am

Ah yes, accessible clean bathrooms are the best!!! When I gotta go, I look for the nearest Four Seasons or Ritz Carlton :)

[Reply]

I can only speak for myself, but I think we felt that we “deserved” certain things because we made it through school, living with forced frugality due to lack of income, and now we can qualify for credit. Instant gratification is toxic. You’re right than anyone can get credit. We never looked at the cost as a whole, but rather, can we afford the payments? I don’t blame anyone but myself, but I really wish I had learned better money management skills in school or from my parents, although I probably wouldn’t have listened. Sorry it took 12 years to figure it out.

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 11:08 am

Hi Kim, that is a great attitude “I don’t blame anyone but myself.” Hopefully at least the credit you spent brought joy during that time. It is fun to also get out of debt too, so in that optimistic way… you could have it good both ways!

[Reply]

I personally have no clue what its like to spend such a vast amount more than what you have. I am not saying I was always a saint with money cuz I wasn’t but this type of consumption baffles me. I will say though that I have met plenty of people who have done this. When you ask them why, they will say they felt like they had to or they felt some type of validation in the spending. I think your comment about paying $21,000 for the civic was interesting. I personally don’t have the cash on hand to pay it but I wouldn’t consider ever buying new-not after I saw how quickly a new car depreciate its value! Its going to be always old cars for me but out of choice :)

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:04 am

You might want to come to the Dark Side and see what spending more than you have feels like! Just try and control yourself when you get there b/c it might feel so awesome!

[Reply]

I myself have fallen into this trap. When I was in college I would live it up and go out with friends and just put it on my card. I’m paying for it now :( Once I get out of credit card debt (shooting for march) I’m done with credit cards!!

It does feel good to pay down the debt though :)

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:05 am

EXACTLY! It feels good to live it up w/ friends, and it also feels good to pay down debt. A win-win for an optimist! Good luck.

[Reply]

Of the various factors, I think the most prominent root cause is self esteem. The same credit is available to virtually all Americans, yet only some show lack of restraint. Many people getting into debt know they shouldn’t be doing it, but need to outwardly display success and keep up with the Joneses. If you have a different mindset and don’t give a crap about people judging you, you won’t get into debt.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:06 am

It is interesting that the same amount of credit is available to everyone, yet only a minority (?) abuse it to the point of being out of control.

With any number big enough, you will have a big enough number of abuses.

[Reply]

Well, since I’m one of those people, I can tell you exactly why! For me, it’s all about self esteem. The crazy thing is that a lot of women look at things that I have purchased since going hardcore into budget-mode and will tell me how cute my shoes are (I got them at Payless) or how pretty my dress is (I bought it for $12 off a clearance rack) etc etc. Personally, I don’t know how much a Louis Vuitton bag runs, or how many pairs of Louboutins (I’m not even sure I’m spelling that right!) I could buy if I didn’t have a mortgage. This has taken me a long time to learn, though. There are many ways to be stylish and feel good about yourself without spending gobs on the brand name stuff. As for the other things mentioned, we were just trying to keep up with the Joneses! We had to have this house because it’s in a good school district, but unfortunately–we didn’t budget accordingly. We *can* afford this house, and it is not above our means. It is, however, if we continue to consider the other things in our lives non-negotiables. Even rich people have to negotiate somewhere, right?!

[Reply]

Financial Samurai Reply:
September 11th, 2012 at 9:38 pm

Thanks for your thoughts Michelle. With positive reinforcement of inexpensive stuff, it makes inexpensive stuff more attractive!

Good meeting you in Denver!

[Reply]

Spending more than you earn is so common for people I know who are my age. It’s just that my generation, which you know I’ve written about before, just has to have everything here and now without waiting or saving. It’s very tough to break the cycle. I often wonder where I would be financially if I didn’t move to Grenada which changed the way I look at the world and my finances forever.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:06 am

How tough really is it to break the cycle? Why not just cut up the credit card for 6 months, or put it in a safe and be done w/ it?

[Reply]

I think many people spend too much because they are depressed and it gives them some short term joy. Unfortunately this overspending only leads to more depression which leads to more spending. It’s quite a downward spiral.

[Reply]

I often tell my friends who tend to spend too much is that the secret to being able to have financial stability is to live within your means. I absolutely agree with you that social media is one of the main culprits on why people spend more. People tend to buy what they want, even though they don’t need those things. Spending beyond your means would only lead you into a vicious debt cycle that is very hard to get out of.

[Reply]

Quite a paradox. We are told to save as much money as we comfortably can yet
the economy needs us to spend,spend,spend to grow, and recover. Just imagine if
everyone in the U.S, put away their VISA’s for a year, and lived on cash alone within
their means.

It likely would be an economic disaster.
Now that’s depressing

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:07 am

I would like everybody to spend like crazy so equities, real asset, and other physical assets can rocket higher. Then I would sell everything and just sit on the beach somewhere and blog. Wait a minute.. this happened in 2007 already and I didn’t have the foresight! Darn.

[Reply]

Spending is a form of addiction. Incessant surge of ads via new media — mobile phones, iPad etc. is another major factor. Let’s face it, businesses are after weak souls who want to please others at any expense. And there are many weak souls with easy credit fueling their bad habits.

[Reply]

Entitlement…the people I know who spend like that often tell me why they deserve whatever item they are overspending on.

[Reply]

It’s all about education. The reason I say that is I believe we don’t do a good job in the country in educating our children abut personal finance.

[Reply]

It is probably the result of constant marketing from corporations persuading individuals to buy tons of things they don’t really need. Like every iteration of iPhone that ever comes out or the newest and hottest trends from fashion week.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 7:08 am

So you aren’t going to buy the iPhone 5 to help us out in the Bay Area? Our economy needs you! The rich need you, just like everyone needs the IP5!

[Reply]

Jonathan Reply:
September 17th, 2012 at 9:13 am

I’ll probably get flamed for this, but I’m more of an Android guy.

[Reply]

Financial Samurai Reply:
September 17th, 2012 at 9:17 am

Google already is at $700/share and a monopoly. Come on now! :)

Due to the nature of my husband’s career, I am required to accompany him for many social and charitable events – the media is usually present. It is simply astonishing to witness the clothing, shoes and accessories – women are literally trotting around with small fortunes on their backs.
My closet is filled with a variety of tailored classic designer clothes bought at resale shops.
Occasionally, during our travels I’ll pop into a Goodwill if we are in an upscale neighborhood.
Last score was a “day” dress for 2.50 that I washed and hung to dry – paired with a fabulous pair of Ferragamo shoes and matching purse ( bought for a song on eBay) we were off to an event where we had lunch with the Governor. Jewelry was pearl stud earrings (faux)and my 30 year old Cartier tank watch. I would much rather invest my money and continue to support the charities that help those in need than waste it on clothing.

[Reply]

Financial Samurai Reply:
September 16th, 2012 at 10:28 am

At least at these type of functions, you know you have an original if you’re going to Goodwill and not buying the latest dress at Gucci!

[Reply]

Iam from India In my childhood days i got only 3 pairs of clothes for a year. buying new clothes a dream at that time. people were very happy and enjoy their life at that time. now majority of the indians affordable to buy premium items. but they are not happy. depressive chasing endless pleasures. we cant expect apple tree from a marijuana seed. marijuana seed is our ego. if we cant win our self we endedup as a useless things. thanks for this article. sorry for my english.

[Reply]