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Spending above your means
- Thread starter Randy
- Start date
Several years ago I worked with an older guy that suddenly started giving everybody presents.
He bought stuff on a card, and gave it away. He gave me a fancy calculator that I had no idea how to work, so I gave it to my daughter who was in high school at the time, and did know how to work it. He bought the office a fancy coffee machine, and donated a carload of food to a local shelter.
He paid for a set of tires for one of the older ladies in the office.
He had been diagnosed with a serious illness, and he simply wanted to check out with as much debt as possible. He did, only a few months later. After working for longer than was pleasant for him.
I don't know of any family members or other relatives, and when we went to his funeral, there was a handful of 'cousin' there, but that was it.
If I was going to go into debt, that may be the way to do it.
Which reminds me, somewhat, of this (listen to the words):
He bought stuff on a card, and gave it away. He gave me a fancy calculator that I had no idea how to work, so I gave it to my daughter who was in high school at the time, and did know how to work it. He bought the office a fancy coffee machine, and donated a carload of food to a local shelter.
He paid for a set of tires for one of the older ladies in the office.
He had been diagnosed with a serious illness, and he simply wanted to check out with as much debt as possible. He did, only a few months later. After working for longer than was pleasant for him.
I don't know of any family members or other relatives, and when we went to his funeral, there was a handful of 'cousin' there, but that was it.
If I was going to go into debt, that may be the way to do it.
Which reminds me, somewhat, of this (listen to the words):
Only spend what you have. 😉
I used to be way way bad about managing money when I was younger. I couldn't wait to go out and buy shit after pay day. The good news is I've had to learn some major self control and quit giving into impulse buying.
I've paid off all of my past debts to Capital One.
Currently I've acquired some hospital debt that I'd like to get rid of. I went in for a sleep study because my sleep apnea took a turn for the worse and was badly effecting my health.
I have always been careful to live within my means. My dad told me if i get a credit card to always pay it off in full at the end of every month and i there is a month I cannot, then I need to realize i am going above my means. Somy entire life that is what I have done.
I have quite a few credit card, definitely spend above our means. We have been working on slowly to fix it, but it seems like everything has been going wrong. Car needs fixing, we needed to get our furnace fixed. One step forward....two steps back. Trying to break that cycle.
I can relate to that!
yeah... but got the best of me and i ended up declaring bankruptcy...well, it wasn't because i spent so much it was the fact i had to look after myself, my ex parnter and 4 dogs.....
Sorry you had to declare bankruptcy. Are things better now?
I hate having debt, so I don't spend above my means. It makes me physically ill to see my credit card with more than few hundred bucks on it. I've learned the hard way by watching other people drown themselves in debt and have to claw their way back out. No thanks. Don't need to learn that myself. I'll just be careful with my money, thank you.
I remember when I first moved out on my own, my mother wrote me a list of all the anticipated expenditures that I would have on my own. She said (and sincerely believed) I would not be able to live on my own with my wife (then, girlfriend) and I's current jobs of employment.
So when I moved out, I budgeted hard. Real hard. I had everything drawn out in a notebook, I wrote a diary of my expenses.
Then, I realized something. She lied. Unintentionally. Not only did she and I have enough money to live comfortably with our jobs, but I found out we actually have enough money to live off my income alone. Once I realized that, I eased up a little bit. Although, I would still say I have maintained a certain reasonableness with how I spend my money. Since then, I have moved twice. And now, my house payment is now more than double what my rent was when I first lived on my own. And, you know what? We can still live on my income alone (but, barely). The only reason I bother writing all this out is that it was an important lesson for me to realize that so many people (including the ones you look to for guidance) have no idea what the hell they're doing (and that's okay).
Nowadays, I could stand to tighten the ship a little bit - a lot more money goes to Door Dash / fast food than what it should. Other than that, I'm fairly responsible with how I spend money (I have a nice nest-egg for my wife and I).
So when I moved out, I budgeted hard. Real hard. I had everything drawn out in a notebook, I wrote a diary of my expenses.
Then, I realized something. She lied. Unintentionally. Not only did she and I have enough money to live comfortably with our jobs, but I found out we actually have enough money to live off my income alone. Once I realized that, I eased up a little bit. Although, I would still say I have maintained a certain reasonableness with how I spend my money. Since then, I have moved twice. And now, my house payment is now more than double what my rent was when I first lived on my own. And, you know what? We can still live on my income alone (but, barely). The only reason I bother writing all this out is that it was an important lesson for me to realize that so many people (including the ones you look to for guidance) have no idea what the hell they're doing (and that's okay).
Nowadays, I could stand to tighten the ship a little bit - a lot more money goes to Door Dash / fast food than what it should. Other than that, I'm fairly responsible with how I spend money (I have a nice nest-egg for my wife and I).
You'd hate to see a couple of my credit card bills then!
Indeed. Its crazy how fast you can fall into that rabbit hole.
I used to budget like that but after living on my own for the last 20 years I don't bother any more. I just pay all the essential bills first, pay what I can towards credit cards, then I leave a little leftover for fun money.
Also doordash is the worst! Just when I think I've ditched them completely they send me a coupon / promo and draw me back in.
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