Worst Justifications for Spending You Have Ever Heard

[Caoineag]

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I think we too often ignore how people are brought up. Many of you on this thread are die hard savers and proud to be so, also claim that you got many of those traits from how your parents raised you. I think we often tend to ignore that the flip side is probably also true for many of these people. It doesn't necessarily justify their actions or rationale by any means, but it does lend some perspective.

My parents have had credit card debt there whole life. I am quite sure I learned some of my bad habits from them. But the blame for my finances goes no further than me. My parents stopped being responsible for my money habits when I was 16. Everyone is part environment and part genetics. But why focus on the part you can't change when you can focus on the part you can?

[LivingAlmostLarge]

My parents are spendthrifts. My mom even says so. They just so happened to out earn stupid. Again my mom's words.

They changed cars ever 2-3 years, they leased cars every year. My parents travelled a lot and never cared for their home. So the value of their home is very low compared to if it had been properly maintained.

In retirement they bought another condo with a mortgage. Is that wise? HELL NO! But they have to learn that they can't keep out earning stupid. And it's finally starting to sink in at 56 and 77.

Fortunately my dad worked for a long time! But otherwise they'd be sunk. NO ONE SPEND $10k on a trip to Japan for 3 days. People don't blow money like that.

So I'm not exactly sure my parents taught me much. They taught me CC debt is bad. But otherwise even NOW my mom whines "Why can't you afford a lexus, mercedes, BMW?" Why can't you just travel? Because they spent everything. Only now are they realizing you can't blow through money when you are on a fixed income.

So any bad habits I have I learned myself. The one thing my mom did was give me a CC at age 13 to learn how to use one properly. I never charged more than I could afford.

[hakuna matata]

I think if you are raised to be a saver you might be more likely to be one, but not all savers were raised to be one. My family wasn't a saving family-my father barely made enough to keep the family afloat, let alone plan for the future. So I wasn't a saver when I was younger--it is only now that I am older that I see the value of it.

For me it was the light bulb of finally understanding compounding interest and paying myself first. Something that most people aren't taught, nor ever learn.

My wife and I have vowed our daughter won't graduate high school without understanding these simple concepts.

[JanH]

"But I've been good lately...." And that is an echo from my own head...

[Caoineag]

"But I've been good lately...." And that is an echo from my own head...

Oh very similar to the voice in my head that says I have been so good lately that I deserve it.

Doesn't that just erase the good???

[tifnglen]

My friend who has 2 repos on her credit and has never paid another friend back the $2500 loan says 'You only live once...I am going to get what I want" while buying $400 watch....

[TBH]

"Credit card interest is just part of the cost of living nowadays."

[rob62521]

I think if you are raised to be a saver you might be more likely to be one, but not all savers were raised to be one. My family wasn't a saving family-my father barely made enough to keep the family afloat, let alone plan for the future. So I wasn't a saver when I was younger--it is only now that I am older that I see the value of it.

Anyone remember the play and/or movie, "I Remember Mama"? In it, each week when father brings home the pay, they go through and set aside money to pay their bills, and with relief they say, "well, we won't have to go to the bank this week" or something like that implying they might have to take money out of savings. At the end of the play, Mama tells the daughter they really didn't have any money in the bank, but they wanted the kids to feel secure so they told them that. You quote kind of made me think of that...you learned from your parents and from your own experiences, hakuna! Good for you!

On another note, I think it was either implied or said, "I deserve to buy ______ because I work so hard."

[glock35ipsc]

I think if you are raised to be a saver you might be more likely to be one, but not all savers were raised to be one. My family wasn't a saving family-my father barely made enough to keep the family afloat, let alone plan for the future. So I wasn't a saver when I was younger--it is only now that I am older that I see the value of it.

For me it was the light bulb of finally understanding compounding interest and paying myself first. Something that most people aren't taught, nor ever learn.

My wife and I have vowed our daughter won't graduate high school without understanding these simple concepts.

Wow, I think I could have easily been the one to say those words!

I grew up watching my folks buy a new cars every few years, or when the next years model came out that was better. Buy what they wanted whenever they wanted. I always thought my Dad's business was a money machine, and for the most part it was. But what I didn't realize is what they were NOT doing. And that was to NOT save anything. I only found out within the last couple of months that the only savings or retirement money they have is my Mom's USPS pension and Dad's SS check.

I finally got my eye opening about 6 years ago when I went to work for my current employer. I had never saved anything, or had a retirement account. I had no clue what I was doing when I signed up for our SIMPLE IRA plan.

Back on track here..... My main reasoning was simply because I wanted it. Whenever my folks wanted something, they bought it. So that was right in my mind. I'm not blaming my folks, that's just what I thought (learned) was right.

I am excited to see the way my kids deal with their allowances and birthday money. They both have online savings accounts. When they get $100, they buy a Savings Bond. My son just bought his first in his name only this Saturday (I had been buying them for him with both our names on them). I was a very proud father to watch him go to the counter (while I stood back and watched) and hand over his mostly completed form and tell the clerk "I need to buy a savings bond please." The clerk really played it up too, he was awesome! Watching my son (7, be 8 in September) signing the form was the best part! I put that copy in my safe, that one's a keeper!

[rob62521]

I am excited to see the way my kids deal with their allowances and birthday money. They both have online savings accounts. When they get $100, they buy a Savings Bond. My son just bought his first in his name only this Saturday (I had been buying them for him with both our names on them). I was a very proud father to watch him go to the counter (while I stood back and watched) and hand over his mostly completed form and tell the clerk "I need to buy a savings bond please." The clerk really played it up too, he was awesome! Watching my son (7, be 8 in September) signing the form was the best part! I put that copy in my safe, that one's a keeper!

How terrific that your son is this smart so young! Maybe we should have a new thread on justifications on savings! This would be good start!

[LivingAlmostLarge]

OMG! That new car every year is my parents. I thought everyone bought new cars every year and drove only new cars. I had no idea it was so expensive, but now I do. I'm am pretty sure if my parents didn't work until 80 (my dad) and my mom didn't have a state pension they'd be broke.

[Cylenchar]

Not a justification for spending, but a justification for not paying off debt "I thought when they stopped calling to collect 2 years ago they just gave up". This was after finding out a card that she owed $5K on now is up to almost $10k due to interest and late fees.

[Cassandra]

A family friend has the mindset, "If I pay my bills now, there won't be much left in the bank." So she only pays the bills every three months or so. She also continually adds to her CC debt even though she can't even afford the minimum payment. Her daughter has followed exactly in her footsteps too.

I recently had to buy some work cloths ( one pair of black pants, couple pairs of socks). While I was shopping I also bought a pair of shoes (black, I could use them for work even though I don't need them) and a wallet I don't need. My reasoning? "I'm already buying something." I'm making myself return the wallet and the shoes on Monday.

Cassandra

[antiver]

"Shopping makes me feel better."