Saving and Spending Habits

Debater Slayer · Nov 28, 2022

Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

PoetPhilosopher · Nov 28, 2022

Debater Slayer said:
Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

I do it a bit differently, myself. I take chances to an extent. I've been known to live paycheck to paycheck at times. I'll sometimes 'invest' in items that I think will be useful, even if they have a depreciating value. Sometimes for me, if I think an item, like a book, had some educational value, I'll spend on it. Even if I don't think it will have an absolute direct benefit by itself to furthering a trade, just kind of 'adding a little' to my knowledge.

I will admit that I sometimes spend. On the other hand, there have been months where I've cut back, too, after making a big purchase, spending little in those months and making no real purchases on entertainment.

Reflecting on it, I would have more money had I been a bit more light on spending. But spending fairly well on tech has also gotten me some hands-on experience in the field - I feel. I guess you could say I have some expensive endeavors, as well.

Sand Dancer · Nov 28, 2022

Debater Slayer said:
Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

Mine haven't changed, but growing up without extra money gave me a good idea of what I want to spend on certain items. I still love to go to Goodwill to see how much I can get for the least amount.

ChristineM · Nov 28, 2022

Debater Slayer said:
What about you? Have any experiences changed your saving or spending habits?

I've never been one to lash out on something when there is no need (except for shoes

) .

I was brought up on a farm where every penny was counted and saved for need.

Then working my way through college and university is a hard lesson in finance.

When the company began to make a profit i did begin to go for the better things, a coat that was not only warm but waterproof, a SX model car instead of a S model.

Always what i could afford without taking on finance. Not replacing something if it weren't broken. I think i still have that frugal farm girl attitude to money. Even when we sold the company for crazy money we paid out what was due, (tax, bonuses, charity etc) and retired to france but never lashed out on anything frivolous.

You mentioned phones. I've never had a new phone. Over a 3 year period the children each get a new one and hand there old one to hubby or me so we get an upgrade (3 years old) every 2 years.

Jayhawker Soule · Nov 28, 2022

Despite being what some might characterize as lower middle class, we are more than fortunate:

we are retired in reasonable comfort,
we maintain zero debt, and
we have enough to give to others.

And we have each other. There are times that I actually feel blessed.

JustGeorge · Nov 28, 2022

I grew up middle class. I moved out at 17 and have probably been in the lower class ever since. I'm not bothered by it; I never wanted much.

I try to buy under what I need. I'm more likely to try to slash costs than bring in more. For most of my adult life, I didn't have much to save. I don't(personally) use credit cards except in an absolute emergency(a cat has fallen ill, and the savings is empty, for example). I don't take bank loans(mortgage the only exception). I buy used cars from people, never car lots.

I married a homeless beach bum, who wasn't real financially savvy. He's come a long way, but he still throws a wrench in things, financially speaking, every once in awhile. When that happens, I try to maintain a sense of humor(after properly blowing my top somewhere private), and maintain gratitude for the things I do have.

Exaltist Ethan · Nov 28, 2022

I am on disability and I milk every program to get the most comfortable life I can afford. Subsidized rent and utilities. Foodshare. I am disabled due to my severe bipolar mania that I'm forced to take medications for every day. I live alright, and I'm not in debt. I was able to buy a new TV this month when the old one broke. I'm not supposed to save money so at least I'm spending it when I need to.

Orbit · Nov 28, 2022

I grew up with NO money; now that I have some I tend to save it.

The Sum of Awe · Nov 28, 2022

I've recently started to write down everything I spend every day, and try to give myself a 100 dollar leeway at the end of the month just in case I forget things. I'll see how long I'll motivate myself to do this hehehe.

Curious George · Nov 28, 2022

Debater Slayer said:
Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

I think there might be something there. Not completely, because I definitely know people who grew up in similar financial circumstances (I imagine), that still spend frivolously (or what I would consider frivolously). I on the other hand fit your pattern. I prefer to save, I keep my things, like phones and clothes, for long periods of time.

couple things that I may do differently. I will pick up the tab if out with family or friends. The idea of “splitting a bill” or having someone worry about not being able to purchase food or drinks is extremely bothersome to me. I would rather just pay for it and have everyone enjoy their time. I find thrift stores unbearable. I worry that if I purchase something from there, someone who needs that item and can not afford to get it elsewhere won’t be able to get it.

Separately, regardless of how remarkably different my economic status is from my earlier years, I feel more comfortable in impoverished environments than areas of affluence.

lewisnotmiller · Nov 28, 2022

Jayhawker Soule said:
Despite being what some might characterize as lower middle class, we are more than fortunate:

we are retired in reasonable comfort,

we maintain zero debt, and

we have enough to give to others.

And we have each other. There are times that I actually feel blessed.

Then you're wealthy in a very important way.

England my lionheart · Nov 28, 2022

I’m more reckless but as long as my children are ok and buoyant I see no reason not to spoil yourself sometimes.

Im going to buy a Gaming PC,my Xbox sadly died and looking through different game consols I persuaded myself that a gaming pc is better value,easier to upgrade and games can be a lot cheaper so although I’m not a spendaholic,if I want something I will go to the red line.

Vinayaka · Nov 28, 2022

Debater Slayer said:
Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

I'm a spending minimalist, and am still reconditioning myself how to spend. Thirty years of raising kids on one income, and an early childhood of relative poverty made me that way. And yet we do spend, on things we personally value. But that can only happen because of how we limit so many other things. We don't eat out, we don't drink or smoke or do movies. I don't own a phone, do drive a very economical car, buy $6 t-shirts, constantly watch for things on sale, etc.

Kenny · Nov 28, 2022

Debater Slayer said:
Growing up, my family experienced some really tough times financially. This has had a lasting effect on my spending and saving habits, mainly:

- I never buy anything unless I can afford it now or have enough savings to pay for all of it if something goes wrong (e.g., if I lose my income while paying installments on a car). If I can't fully afford it now and don't absolutely need it, I won't buy it.

- I usually avoid going for the extreme high-end in most things I buy due to diminishing returns; the biggest improvement for the least price differential tends to be in the mid-range or slightly above or below it. This is why I have a mid-range phone rather than a fancy iPhone 50 Pro Max Super-Duper smartphone.

- I enjoy saving more than spending, but I still enjoy the latter. It doesn't take much to content me—a $20 video game has been my biggest pastime for the last few months.

- I don't find any joy in showing off financial status through expensive items and the like, although I'm relatively quite well off. I fully believe something I once read: "Money talks. Wealth whispers." Showing off one's money strikes me as tacky and conducive to negative feelings.

What about you? Have any experiences changed your saving or spending habits?

Any news from the physical tests?

We started our married life with a rattan rug, a mattress and a snowy black and white TV. Paycheck to paycheck caused us to budget very carefully. Our favorite restaurant was "McDonalds" (to be said with a French accent". Going out meant going to the beach or feeding ducks (low cost).

It did help us eat better. No soft drinks, no potato chips, no pre-made processed foods.

My wife made my children's clothes. Only one car (still only one car).

Today, we live comfortably and still have most of our teeth

Family is where our treasure is and where our riches are found.

Quintessence · Nov 28, 2022

My saving/spending habits are not driven by money inherently but by religious values. It matters less what I can afford than what that purchase means. What I spend on is probably the most significant articulation of what I value and support. I aim to be mindful of that, but the trouble is, American culture is so at odds with my religion this isn't an easy task. I do the best I can without driving myself insane over it.

Generally, this means just... not buying stuff in the first place. In my country, population isn't the major driver of human ecosystem impacts, it's affluence and consumerism. American consumerism has been disproportionately responsible for the sixth mass extinction and climate change because of its worship of capitalism, money, and stuff. I reject that, which means buying used where possible and reasonable, supporting artisans over corporations, and using stuff until it breaks (then, repairing and repurposing).

The result of this is that I'm financially well-off because I'm a non-participant in the economy compared to the typical, gluttonous American. However, my base expenses are high because... America. Whenever I read the myth that we're only supposed to pay 30% of our income on housing I laugh. I don't know where these mythical people are, but almost no one my age and younger meets that marker. For me, it's a non-issue because I reject consumerism. But for the typical American who has fallen for the allure of stuff, stuff, and more stuff? It's an issue.

JustGeorge · Nov 28, 2022

Kenny said:
My wife made my children's clothes. Only one car (still only one car).

When I went from being formally employed to becoming a domestic engineer(homemaker), I thought I would go that route to save money... I was shocked to learn that material cost more than pre-made clothing!

Father Heathen · Nov 28, 2022

I've had some rough patches in my life (still dealing with medical bills), I'm very frugal and try to save and invest when and where I can.

Kenny · Nov 28, 2022

JustGeorge said:
When I went from being formally employed to becoming a domestic engineer(homemaker), I thought I would go that route to save money... I was shocked to learn that material cost more than pre-made clothing!

LOL - that would be so true today.

JustGeorge · Nov 28, 2022

Kenny said:
LOL - that would be so true today.

I loved the idea of it, but sewing seemed like an unaffordable hobby...

Kenny · Nov 28, 2022

JustGeorge said:
I loved the idea of it, but sewing seemed like an unaffordable hobby...

Walmart has replaced sewing and creative seamstresses are no longer. .

However, for the home engineer, (financial guru, professional chef, doctor, teacher, house cleaner et al) it isn't like there isn't enough to do.

Saving and Spending Habits

Vipassana

Veteran Member

Crazy Cat Lady

"Be strong", I whispered to my coffee.

-- untitled --

Not As Much Fun As I Look

Bridging the Gap Between Believers and Skeptics

I'm a planet

Brought to you by the moment that spacetime began.

Veteran Member

Grand Hat

Rockerjahili Rebel

devotee

Face to face with my Father

Consults with Trees

Not As Much Fun As I Look

Veteran Member

Face to face with my Father

Not As Much Fun As I Look

Face to face with my Father