Why do we buy high end vehicles ?

[motorwerks]

im sorry but debt=bad i dont care how you slice it paying 379k for a 250k house is not good and thats only at a 3 percent apr
the only good loan is a zero interest loan

---------- Post added at 04:12 AM ---------- Previous post was at 04:05 AM ----------



it depends on the circumstances if you take home 5k per month and your expenses are 4900 permonth and yer driving really nice rides living in a enourmous house shopping at nieman marcus then yes yer blowing yer money
if you only make like 1500 permonth and yer expenses are almost 1500 and yer buying groceries as wall mart and driving a kia then yer just poor like me

Both are relative. To some, taking home $5k per month is poverty. To some, taking home $1500/month is poverty (technically it may be actually). Either way, you're living paycheck to paycheck...and that means you're overshopping or overspending point blank. One bad day, rainy day, etc...with no savings, and that Neiman Marcus shopping spree bankrupts you and you're on the street.

...regarding the mortgage...the interest is fully tax deductible. Did you forget that part? The interest cost you nothing. $129k of interest on that $250k house was tax deductible over 30 years. Makes sense? It only cost you $250k and you had 30 years to pay it back free of charge.

 

[George C]

I'm thnking at 34, it may be too late for him to grasp the concept.


To take it a step further, the best auto loan is to finance your vehicle with a home equity loan. This tool makes your vehicle loan interest completely tax deductible as well.

 

[motorwerks]

Where do you plan on living while saving up a quarter million or so to buy a house?
Renting is flushing money down the toilet.

Love it

 

[CHOO CHOO]

Living paycheck to paycheck IS blowing all the money you have chief

Alot of people save up money to afford something nice. Its a sacrifice people make. Just like people make a sacrifice a buy a bigger house. They may be tight on money, but its what they want and are willing to sacrifice for. Its not blowing money if its something you want and are willing to do for a while.

 

[George C]

I guess, but wasn't there a valuable lesson of that type of thinking taught back in 2008?

I'm in a different place now Phil, so I'm not looking at it through 30 something eyes, but I can tell you that that time runs out, and runs out fast.
Before you know it, you are 50, and trust me, you aren't the same eager and productive person at 50.
Save your money and buy only what you can afford because at some point, you are not going to want to live from check to check.

 

[CHOO CHOO]

I know what you mean george, I am currently looking for a house, and nothing big. Just paid off all my debt, and bought a new chevy cruze to save money on these gas guzzlers. Saves me two hundred a month from the tahoe payment and gas money. Its our daily beater. I work for the railroad so money is real good, retirement is gold, and is live comfortable. Not stupid, but comfortable. I save money, have a rainy day fund, and am starting my kids college funds soon.

I used to save all my money and eat pb and j all the time and be very stingy with money. Then I realized I aint taking it with me and im only here one. I want to enjoy life and if I want something, I will work for it and buy it. Not a lambo cause thats just unnecessary and out of my range, but if I want it I buy it. I see all these old people who saved all thier lives and retire, sit at home, and do nothing with thier money. Then die. F that. When I retire, I wont be living in the states, thats for sure. Living in the Philippines with the rest of the wifes family living very very well.

 

[motorwerks]

Alot of people save up money to afford something nice. Its a sacrifice people make. Just like people make a sacrifice a buy a bigger house. They may be tight on money, but its what they want and are willing to sacrifice for. Its not blowing money if its something you want and are willing to do for a while.

Um...yes..that IS blowing money...because you're making a sacrifice and purchasing something you can't really afford. Too bad if it's something you really want...tough...live without.

George hit the nail...this stupid mentality is what caused our economy to crash....and people like me are stuck bailing out all the dip ***** who didn't know when to stop spending.

 

[George C]

I know what you mean george, I am currently looking for a house, and nothing big. Just paid off all my debt, and bought a new chevy cruze to save money on these gas guzzlers. Saves me two hundred a month from the tahoe payment and gas money. Its our daily beater. I work for the railroad so money is real good, retirement is gold, and is live comfortable. Not stupid, but comfortable. I save money, have a rainy day fund, and am starting my kids college funds soon.

I used to save all my money and eat pb and j all the time and be very stingy with money. Then I realized I aint taking it with me and im only here one. I want to enjoy life and if I want something, I will work for it and buy it. Not a lambo cause thats just unnecessary and out of my range, but if I want it I buy it. I see all these old people who saved all thier lives and retire, sit at home, and do nothing with thier money. Then die. F that. When I retire, I wont be living in the states, thats for sure. Living in the Philippines with the rest of the wifes family living very very well.

Sounds good.
I guess I'm all about making life easier when you get older, and not harder.

 

[CHOO CHOO]

Um...yes..that IS blowing money...because you're making a sacrifice and purchasing something you can't really afford. Too bad if it's something you really want...tough...live without.

George hit the nail...this stupid mentality is what caused our economy to crash....and people like me are stuck bailing out all the dip ***** who didn't know when to stop spending.

So im a ******* who is not in debt and can afford what I have? That doesnt make sense. People who go into debt and have credit cards maxed and still buy new stuff and juggle bills are dipshits. I can afford everything I have and still have money to splurge on small things. Its kinda rude to tell me what I can and cant afford. I dont go balls out and spend money like crazy. I know my limits. You wont be bailing me out I can tell you that.

And at the same token, if stingy older generations who are ******* the younger generations by creating laws and taxing every single thing to the point of mowing my lawn, then we might not be screwing you. My parents generation and grandparents generation have been the demise of this economy and country. Ruining it with laws and taxes that are ridiculous. Giving themeslves raises as a ceo or higher up and screwing the people that work for them. The rich get richer and the poor get poorer.

It is NOT blowing money if you can afford it and make steady payments and are willing to sacrifice other things to have something you want.

Do you take family vacations? Well thats just dumb and are wasting money when you could be saving it. Right? Technically your blowing money on something that is frivolous and dont even get to use but once.

Well, everyone has a different view of spending money on things they enjoy.

 

[George C]

We live in a dog eat dog world. It isn't the old screwing the young, it's the smart and greedy positioning themselves to screw you and me over, and usually they are young and aggressive bankers and stock brokers.

In my next life, I'm coming back as a wolf on Wall Street. Our laws are still more than favorable to robbing the poor to get rich...
Either way, the only person looking out for you and me, are you and me..