Do You Stick With Friends Based on Financial Equality?

[disneysteve]

Disneysteve, you say you save 20-25% of your income. You mean that difference accounts for private schools, nanny, chauffeur, Porsches and vacations?

I know numerous people who earn more than me but have less in savings and investments because they choose to spend differently - which is entirely their right of course.

For example, my work partner leases a shiny new BMW every 2 years. During the 15 years we have worked together, I've had 2 cars. He is on his 8th. I've had no car payment for 14 of those 15 years while he is spending hundreds each month endlessly.

I stopped being impressed by fancy cars a long time ago when I realized that a vast majority of the folks driving them were leasing. They can't actually afford what they are driving. I'm perfectly happy to have my paid for Camry and keep it til it dies. I had my last car for 14 years.

[rob62521]

Disneysteve, I am with you...two of my former bosses both made far more than I did, but were reckless with their money and often looked done at me for being frugal. My home is smaller than either if theirs and it is paid for. Our cars are paid for and we aren't keeping score in who has the fanciest and newest.

[LivingAlmostLarge]

Broad spectrum. I've very wealthy friends and friends who make less and friends who make around the same amount. The most important thing is the friendship.

Money does divide in doing certain activities especially like traveling or kid's activities. Then it's better to stick with people who have similar financial positions or values.

At the same time money doesn't define people. And you can be friends with people who make differing amounts and spend differing amounts.