The problem with being budget minded is other people.

[Ima saver]

Re: The problem with being budget minded is other people.

I have been on 14 cruises, own two vettes and a street rod, but still wash those aluminum pans and keep my hot water heater turned off all day long.

[rob62521]

Re: The problem with being budget minded is other people.

So many people let money burn a hole in their pocket. When we received a small inheritance a few years ago, we paid off the house, paid of DH'S car, bought some of my subbing time from the Teacher's Retirement System, bought a nice piece of furniture and invested the rest. We aren't rich, but we are comfortable. I reuse bags, cut off buttons, watch grocery sales, use coupons, and check the clearance racks wherever we go shopping. I don't have the fanciest car, and the dressiest clothes, but I'm clean, neat, and not ashamed. I'm also not worrying how to pay the next bill that comes in the mail.

[Ima saver]

Re: The problem with being budget minded is other people.

You did well with your inheritance. I would hate to save money just to have some other person blow it!!

[rob62521]

Re: The problem with being budget minded is other people.

Thanks, Ima! I hope I can be as successful as you are! You are a wonder! :-)

[Ima saver]

Re: The problem with being budget minded is other people.

I am sure that paying off your house was a great feeling!! I wonder how many other people you know have a paid for house?

[rob62521]

Re: The problem with being budget minded is other people.

The only other person I personally know is a friend from church. She is in her 80s and she said they worked to pay it off before her husband retired at 65. Her son is working at it, but about everyone else I know still owes and many are getting home equity loans so their mortgages are going up instead of down.

I enjoy reading your posts, Ima! Thanks for your nice words.

[Ima saver]

Re: The problem with being budget minded is other people.

Isn't that amazing to know so few people who own their houses outright. Most people get a 15 year old mortgage (I would think) Years ago, it was a standard 20 year mortgage. I have a girlfriend who got a 20 year old mortgage when she was in her 20's. Now she is 53 and still paying on that mortgage.
Like you said, they kept getting more loans on the mortgage and have paid on it for over 30 years instead of 20, I got mine paid off in 10 years.

[kealina]

Re: The problem with being budget minded is other people.

my grandparents do, at least one set of aunt and uncles too.... and i think my parents are pretty close... they started 15 years ago and have been making steady payments...

[Jewelfine]

Re: The problem with being budget minded is other people.

I suppose I use a credit card because I do dumb things like buy gifts for faraway friends that are dear to me, buy gas when the gas station is unstaffed, make reservations for hotels and car rentals. I use it as a convenience to me, and the credit card company makes a small amount on the purchase even when I pay in full.

I bet George Soros, Steve Ballmer, Oprah Winfrey have credit cards too. Not everyone who has a credit card is carrying a balance.

We have about six credit card accounts, that we use for business and for personal reasons. But the only reason why we have them is is for convenience and earn points. We pay them off each month in full, and never carry a balance, and the credit card companies keep giving us more credit. And then we use the airmiles/or points to go to the movies for free, or get gift certificates for stores, or travel with. It works great! BUT THE KEY IS DISCIPLINE - and making sure we NEVER carry a balance - that means only charging what we can afford to pay off each month.

[Jewelfine]

Re: The problem with being budget minded is other people.

IM (controversial) O you are missing out if you qualify for the opportunity and don't take it. It truly is free money- but the key is DISCIPLINE.

Disclaimer: If you don't have self discipline, it is NOT worth the possibility of getting into debt.

I soooo agree!!!!

Don't do it if you haven't got or developed the habit or the discipline!

Melanie

[Jewelfine]

Re: The problem with being budget minded is other people.

If you lose friends over issues such as this then they weren't your friends in the first place.

that's what I was thinking!

[Ima saver]

Re: The problem with being budget minded is other people.

I use credit cards to get the 1% payback in cash. In June, we got $550 back from american express.

[Jewelfine]

Re: The problem with being budget minded is other people.

Truthfully, all of us like doing things this way. My kids hate to ask me to buy anything for them, even though I never hold it against them. (They feel that we help them enough and they should be able to take care of theirselves.)
While they were away at college, I would have to demand that they let me give them some money when I could tell that they were pretty much down to their last dollar (usually at the end of the quarter).
I don't know what happened. I wasn't like them when I was their age.

They learned it at home!!!! Good on ya'!

[Jewelfine]

Re: The problem with being budget minded is other people.

I go to lots of parties with the same 10-15 couples all the time. Not a single one of them is into budgeting and saving. Heck the last couple of parties have cost over $5000 each!

That is like a small wedding!!!!!

[The Budget Man]

Re: The problem with being budget minded is other people.

We have about six credit card accounts, that we use for business and for personal reasons. But the only reason why we have them is is for convenience and earn points. We pay them off each month in full, and never carry a balance, and the credit card companies keep giving us more credit. And then we use the airmiles/or points to go to the movies for free, or get gift certificates for stores, or travel with. It works great! BUT THE KEY IS DISCIPLINE - and making sure we NEVER carry a balance - that means only charging what we can afford to pay off each month.

I agree about paying off the cards each month.

Here's a question that was suggested to me when I was thinking of using credit cards to generate points...

"Have you paid interest on any of your credit cards in the last 12 months?"

If the answer is yes then you should have second thoughts about using credit cards for points.

I find this helps me.

Enjoy Your Money
The Budget Man

www.PersonalityBudgeting.com
For a budget you can live with