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January 08, 2007

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100% agree here. Also, have you heard of the "Debt Warp"? That was tagged by the guy that wrote "The Number". Same concept, that people are not living in reflection of their net worth, they are living in reflection of how much credit they use.

I drive a 14 year old Acura Integra, and am over the 1/2 way mark on the way to our first 7 digits.

We rarely go out to eat, don't shop unless we know ahead of time what we are looking for, etc.

It really does make a difference in your net worth though, doesn't it?

[...] The Carnival of the Capitalists has a slightly different focus and I found several interesting articles. The Biggest Barrier to Becoming Rich at Free Money Finance is an article that fits right into the focus of this blog. [...]

That sounds like my younger sister. Of all the kids in my family, she is the only one that did not want to go to college. She spends like she is has a high paying successful job, but I know that her $15/hr office does not support her lifestyle. She has a new fancy cellphone, digital camera, etc every year. She doesn't understand my husband and I do not go out to $80 meals or spend money on "electronic toys." But she has no retirement, no real future with her current job, and no health insurance. And she wonders why our family is concern.

The pressures are great and stacked against you. It's not easy when you are "expected" to fit in with the high consumption lifestyle. People talk behind my back and call me cheap. It's these very same people that I am supposed to impress by buying fancy televisions and luxury automobiles and buy a house when I do not desire any of those things. Luckily I can think for myself.

Someday I'll be winding down my career and looking to live off of the income from my investments and savings and do whatever I want while my peers will still be struggling with their mortgages and car payments, and credit card debt. Oh, they'll still talk behind my back but this time their sentiment will be envy rather than derision.

Thank you very much for the inspiration. i really learned a lot from this page. Now, I will start becoming thrifty and spend less and save much.

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