Suze Orman - Can I Afford It?

[MoneyHoney]

I also watched some of her show this weekend. I liked the idea of objectively looking at potential purchases. (Some of my past puchases would not have passed muster!)

[Broken Arrow]

So BA, do you think that if back when you were in that situation, one of you would have called in to Suze's show and been told you couldn't afford the house, it would have made any difference in your decision?

No, it would have made absolutely no difference who or how many told us it was a bad idea. Such is the power of denial or stubborn minds. I mean, we were obviously not being rational to begin with.

BA, I'm sorry to hear that you had to live through that experience.

Thank you for your sympathy, though I can't say that I deserve it. I was an adult who made a conscious choice along with another adult, no matter how wrong it was. Anyway, it's behind me now, and I've learned a very important lesson which I'm sure will benefit me for the rest of my life.

[tabbycat31]

I like that segment of her show. I can see why it's popular because if you can't afford something and buy it anyways, it leads to financial trouble.

A few weeks ago, there was a 13 YO who wanted an Xbox (or another game system). She was banking on the bonus her mother would give her for straight As on the report card and she would borrow from Mom until then. Suze denied her.

[Quynne]

I have learned to choose not to afford things. lol. My husband said that until we get our finances under control there is NO WAY we will be buying anything! I mean...a ripped couch will have to suffice for a few more years, I guess. lol. Now, it wasn't always like this. We used to make more money...but we also spent a bit more. I would love an xbox 360 but..c'mon..I am in cc debt. Debt I cannot pay. What sense would that make?

I have a friend how spends money he doesn't have all the time. He bought a boat when he could hardly afford his car. lol. Well, he ended up having to sell the boat. He and his family also eat out like 3x a week. He has a family of 5! His wife offers no wisdom as she wants to eat out as much as him. They say that they will cut out eating out and then they don't. They did a pie graph of thier finances and realized that eating out was costing them a ton. Well, yea! I mean they buy groceries for everyday and then eat out 3-4 times a week. Some weekends twice in the same day. Ok...but get this...they have no credit card debt. However, they were so behind in car and house payments that both were almost taken away. They managed to destroy their credit without credit cards. All because, they couldn't say no. Now I am not throwing stones...I too have made plenty of bad decisions. Just saying..that based on this family...those who call that show will mostly likely still buy whatever they want.

I think for a lot of people, there's a sense of entitlement. They feel they "deserve" to have the new house,boat,atv,new truck,car and every new toy on the market. Afterall, their friends,neighbors and relatives have it. Most had little to no financial education which accompanies their little to no common sense.

[Aleta]

I think that it goes any farther than that. Alot of people will ask my husband when he's going to get a new work van and their reasoning is because it's deductible and why ride around in an older vehicle. If my husband spends too much time with these people and listening to them; he starts talking about buying a new vechicle. His runs fine. Also, lately, every time I turn around, he's mentioning the 42" flat screen HD TV's. Already, I heard on the news that they really eat up the electricity. Anyone else out there heard about this. Plus, even though you do have HDTV. you still have to pay more from your satellite provider for the signal and the movies to rent are $1. more. As far as I'm concerned, my 31" in the family room works just fine and unless it breaks; I'm alright with it.

[disneysteve]

Alot of people will ask my husband when he's going to get a new work van and their reasoning is because it's deductible and why ride around in an older vehicle.

Yes, I always love when other people tell me how I should be spending my money. I had a patient ask me why I haven't gotten a new car. His reasoning was that doctors usually drive something flashier once they have some money to spend. And this coming from a guy who is living close to the poverty level. That was probably 2 years ago. I'm still driving the same car, which will be 10 years old in a few months.

[tinapbeana]

Yes, I always love when other people tell me how I should be spending my money. I had a patient ask me why I haven't gotten a new car. His reasoning was that doctors usually drive something flashier once they have some money to spend. And this coming from a guy who is living close to the poverty level. That was probably 2 years ago. I'm still driving the same car, which will be 10 years old in a few months.

possible response: I continue to drive an older car so I won't have to raise prices for my patients. But, if it's that important to you that I drive a newer car, I'll see what I can arrange...

[Broken Arrow]

Also, lately, every time I turn around, he's mentioning the 42" flat screen HD TV's. Already, I heard on the news that they really eat up the electricity. Anyone else out there heard about this.

Hehe, boys with our toys.

You might find this interesting.

No TV for me... though I still have internet so....

[Aleta]

Thanks BA. That was just what I was looking for. I'm with you. As a matter of fact, having a TV brings a lot of other costs including satellite or cable with people ordering all kinds of online entertainment.

[Broken Arrow]

Soooo... you don't like the idea of snuggling up with your hubby in a warm blanket sipping a hot chocolate while watching your favorite shows with him?



Just thought I'd give it a shot for your hubby's sake.