Friday, October 14, 2011
Flashy People are Broke
In my experience the folks who drive the flashy cars and wear designer everything are broke. They pay top dollar for showing off. Better to drive a beat up old car that gets you from point A to point B reliably than be up to your eyeballs in debt for a flashy car. When I was younger things were different. The flashy cars were being driven by older people. The high end jewelry was worn by older women. There was a certain logic to things. The high end flashy stuff came to you when you got older. When you were making more money, had your house paid off and no longer needed stuff. When I was starting out, I had nothing. Little by little I built up a wardrobe and a collection of costume jewelry. I couldn't afford and didn't want a Louis Vuitton bag. Everything in its time and in its season. If you're young there is no point in going into debt for a purse. It's better to pay off your condo. Think about how many bags you can get if you only have to pay the maintenance on your place. Being cheap is mostly about getting your priorities straight and figuring out what will make your life easier. Be truly rich by having the security to take a sudden drop in income on the chin. This is why I want to get a retirement place paid off now. I am planning on living on Social Security even though I definitely will have much more. Cheapness is also about creating value and security in your life.