That notion might have worked when I was in my 20s but I've shopped, dined, and traveled enough to know that spending more money won't necessarily make me happier. Some of that activity actually made me less happy. And so I save my capital for the day when I come across something that would be really meaningful.
My Cousin owns a highly successful major recycling business in Berkely, CA named Urban Ore.
If you have ever viewed the TV show "Mythbusters" his place is a source for much of the Odd things needed on "Mythbusters", like toilets, for example, just about anything you could need or want to buy new-it is there.
His is a fascinating modern-day tale of taking trash before people pay to place it in already overflowing Bay Area Landfills, and providing a source for those of us who can re-use and recycle what was to be landfill.
Of course, he has to charge for it, but that is business, and in my opinion, a business that is helping the world, right?
There are many articles about Urban Ore on the Web..including one on my little blog, 12th Child Musings.
Dan Knapp and his Urban Ore provides inspiration for any of us out there with the entrepreneurial spirit!
---12th Child, Nick
This article is profound. Postponing joyful occasions, whether travel or a fine meal or visiting a distant friend, is a recipe for disaster. When I was in my twenties, I did not save for the future, so in my thirties I worked like a sharecropper to bring in a harvest that would provide for me in old age. I did not travel. I did not treat myself to even the occasional splurge. I neglected my friends. I figured I'd have time to manage all that in my sixties, when life would be all liesure and not toil. Well, I developed a chronic illness; and now, in my late forties, I cannot enjoy travel or anything phyically challenging. The pile of money I've got simply won't deliver the same experiences I could have had if I'd been more balanced in my thirties. Live each day fully.
Well since you have to spend almost all of your younger years working the choice is already made. You must spend your money when you can't. The financial services and health-care industries thank you for your business, although I doubt even they get to enjoy your money.
There quite a bit of money out there, but the states are making it harder and harder to claim it. I found a site that helps the process, the site is http://www.foundmoney.com/
is between being frugal and being a miser. A person who embraces frugality knows that they still need to enjoy things in life that they can afford (travel, food, wine, art, whatever stirs your passions) and a miser closes themselves off from being able to enjoy things like that.
My husband and I save, we put money away to retirement, we have no debt other than our mortgage and if we want to treat ourselves to a dinner at Chez Panisse (or Michael Minna or Gary Danko or wherever) and we have the money in the bank then more power to us. It can make a special occasion all the more special for doing so.
BUT I will not just 'blow it all now' and not think of the future. Yes I could get hit by a bus and die tomorrow but odds are that I will live into my 90's and do I want to be in a state run nursing home or have saved up enough that I can be in a pleasant facility with my own hired care? The difference it HUGE (having seen both sides).
Live for now but plan and think for the future.
40billion.com helps entrepreneurs raise money for startups through friends and family rather than through traditional financial institutions. It is the first friends-and-family funding network for small-business entrepreneurs. Using the Internet-based service, entrepreneurs connect with their social networks - friends, family, friends of family, colleagues, and others - to raise capital, and entrepreneurs can share their fundraising pages on MySpace and Facebook too. 40billion.com’s scalable platform facilitates the funding requests and transactions to make it easier for an entrepreneur to manage many investors, who can provide $50 to $10,000 each. For more information, visit http://www.40billion.com .
I have different budget categories for current and future expenditures. This way I never feel guilty spending for current fun because I've budgeted for that in addition to retirement and future repairs and replacements of things.
I like your point about how the world changing means that you should spend now on things that may not be around in the future (specific restaurants and performers also fall in this category and perhaps also things that require a lot of gas like going overseas) but it also means that that you should save for things that are not available now but will be in the future. (If I had been retiring 20 years ago, I wouldn't have known specifically to save for a personal computer, but it would still be good to have a fund for that sort of thing.)
Other things that change are us, our friends, and our circumstances. I'm always trying to take advantage of odd opportunities to do things that might not be at the top of my list such as visiting a friend who got a postdoc in Switzerland or going on the family trip to Disney World. And of course do things with friends and relatives while they're still around and friendly. And do things with your kids while they're still around. Also, I bet some movies would be more enjoyable to watch now than they will later, out of context (especially the special effects ones). There certainly some good books that I feel I'm not able to appreciate but could have if I'd read them as a kid.
Finally, some things are easier to do at different ages or different times in your life. Learning languages is easiest as a kid. Wearing braces works better when you're younger, too. Starting a business might be best either when you're young with no dependents or when your older and wiser.
Yes, save and invest for the future, but live now. Enjoy the fruits of your labor. Takes some risks, buy the things you love. Just be smart about it. Don't spend 60 years of your life in a vice grip saving every last penny, then the last 20 or so trying to catch up with what you missed. Live hard, live now, because tomorrow is not promised for anyone. If your not living your dreams, start, and enjoy the ride.
Usually these BOGO-type promotions are there to boost tire sales on certain brands and select sizes/styles. The fact that one is older may just be coincidence, but if you're concerned, take the car in and ask that the older tire be replaced with a new one. If it's only a little older, I doubt they'll bother. If it's several years older, you should make a stink.
Inflation is likely to be 10-15% for the next decade with the governments bailout monetary policy. Therefore, the dollar could loose 70-90% of its value. Spend your dollars while they still have value.
When are you too old to accept financial help from your parents? When you figure out they don't know what there talking about since their own financial and credit situation is dismal...LOL
pay for it with a credit card that you can't pay off at the end of the month.. that's the issue with most people.. we/me/you aren't spending what you have right now, we are spending what we think we might have tomorrow..
We definately get our use of of things. Beyond the fact that we are still driving a 10 year old cherokee closly approaching 200,00 miles and the usual hand me downs of siblings, we try to do our best when it comes to the "life-use" of objects. I have repatched holes in kid's jeans and husband's workpants, as long as the cuffs are not frayed. I have turned old objects into new uses not originally intended. I think it is smart to reuse what you have not only on an economical level but an environmental level too. When you fixed your fridge you spared the landfill. And in my experiences, 8 out of 10 times if you fix something it will usually last long enough to have recieved the value of your fix.
Wow! Hit the nail on the head. But sometimes I have to wonder if we as individuals fit ourselves into what we believe we would like to be like when it comes to personality tests. I mean, we all have some traits that stand out and then we all have the traits most individuals have...it just makes me wonder! Thanks for sharing!
I think there has to be a finite balance in everything a person does within the realms of his or her life. My husband would "spend it all" on a few whims and short lasting bliss; I would plan and coddle and run it over a thousand times in my head before purchasing a simple tee shirt wondering if the guilt of buying a necessity would come back to haunt me. Then we realized the necessity of spending and saving without guilt and without shame. If there is something that is not a necessity, we find ourselves asking "Do I need it? Will it make me happy? Will it make me a better person?" And these three questions are all we need. We love to travel and will always travel no matter how little or how much money we have. So, I don't really see spending on travel as endulging, I guess it has just become a way of life for us and is unconsiously built into the budget. We enjoy good food and by good I mean if my husband "the chef in engineer's clothing" can't dish it up, there are a select few restaurants we are willing to spend the cash. But then again, if you go out to eat daily then the appeal is gone and it is more of a chore than a pleasure.
Why would they even begin this study if most Americans are spending everything they've got, and more, already? Maybe they're mining for the small population of frugal people to get them to loosen their purse strings.
I agree. . .it IS all about balance. I'm trying to live that way now. Pay the bills, save money, and use money wisely. I'd much rather save up for a beautiful night out than fritter away money on fast food and coffees. By the way, I count a night at Chez Panisse as one of the top ten meals of my life. That was well worth the price tag!
I travel now because I'm single without kids. Its the perfect time to enjoy the world. I'll hopefully continue doing so, but probably less in the future. In the same breath I'm aggressively paying off my student loans. So I agree that it's important to enjoy life when you're young, but to ALSO take care of business.
I would not feel happpy spending $100 on a meal. After the last forkfull and when the bill came, I would start to feel ill. However, seeing a nice, plump bank balance makes me smile--stock portfolio goes up, I get giddy!! I guess it depends on how you grew up. People with parents (like me) or grandparents who lived through the Depression would not look favorably on this notion of spend now and to heck with later. And the apple doesn't fall far from the tree.
The Wired story is hilarious. I guess with so many terrible things happening in the market right now, people are ready to believe in the worst news possible.
"Think you need a Costco membership to get their low-priced gas? Well, not really. See, you can insert an American Express card instead of a Costco card. The pump will accept both."
But. That would be unethical. Is saving a few cents per gallon really worth doing something that's dishonest?
That notion might have worked when I was in my 20s but I've shopped, dined, and traveled enough to know that spending more money won't necessarily make me happier. Some of that activity actually made me less happy. And so I save my capital for the day when I come across something that would be really meaningful.
GREAT Article!!!
My Cousin owns a highly successful major recycling business in Berkely, CA named Urban Ore.
If you have ever viewed the TV show "Mythbusters" his place is a source for much of the Odd things needed on "Mythbusters", like toilets, for example, just about anything you could need or want to buy new-it is there.
His is a fascinating modern-day tale of taking trash before people pay to place it in already overflowing Bay Area Landfills, and providing a source for those of us who can re-use and recycle what was to be landfill.
Of course, he has to charge for it, but that is business, and in my opinion, a business that is helping the world, right?
There are many articles about Urban Ore on the Web..including one on my little blog, 12th Child Musings.
Dan Knapp and his Urban Ore provides inspiration for any of us out there with the entrepreneurial spirit!
---12th Child, Nick
This article is profound. Postponing joyful occasions, whether travel or a fine meal or visiting a distant friend, is a recipe for disaster. When I was in my twenties, I did not save for the future, so in my thirties I worked like a sharecropper to bring in a harvest that would provide for me in old age. I did not travel. I did not treat myself to even the occasional splurge. I neglected my friends. I figured I'd have time to manage all that in my sixties, when life would be all liesure and not toil. Well, I developed a chronic illness; and now, in my late forties, I cannot enjoy travel or anything phyically challenging. The pile of money I've got simply won't deliver the same experiences I could have had if I'd been more balanced in my thirties. Live each day fully.
Well since you have to spend almost all of your younger years working the choice is already made. You must spend your money when you can't. The financial services and health-care industries thank you for your business, although I doubt even they get to enjoy your money.
There quite a bit of money out there, but the states are making it harder and harder to claim it. I found a site that helps the process, the site is http://www.foundmoney.com/
is between being frugal and being a miser. A person who embraces frugality knows that they still need to enjoy things in life that they can afford (travel, food, wine, art, whatever stirs your passions) and a miser closes themselves off from being able to enjoy things like that.
My husband and I save, we put money away to retirement, we have no debt other than our mortgage and if we want to treat ourselves to a dinner at Chez Panisse (or Michael Minna or Gary Danko or wherever) and we have the money in the bank then more power to us. It can make a special occasion all the more special for doing so.
BUT I will not just 'blow it all now' and not think of the future. Yes I could get hit by a bus and die tomorrow but odds are that I will live into my 90's and do I want to be in a state run nursing home or have saved up enough that I can be in a pleasant facility with my own hired care? The difference it HUGE (having seen both sides).
Live for now but plan and think for the future.
40billion.com helps entrepreneurs raise money for startups through friends and family rather than through traditional financial institutions. It is the first friends-and-family funding network for small-business entrepreneurs. Using the Internet-based service, entrepreneurs connect with their social networks - friends, family, friends of family, colleagues, and others - to raise capital, and entrepreneurs can share their fundraising pages on MySpace and Facebook too. 40billion.com’s scalable platform facilitates the funding requests and transactions to make it easier for an entrepreneur to manage many investors, who can provide $50 to $10,000 each. For more information, visit http://www.40billion.com .
I have different budget categories for current and future expenditures. This way I never feel guilty spending for current fun because I've budgeted for that in addition to retirement and future repairs and replacements of things.
I like your point about how the world changing means that you should spend now on things that may not be around in the future (specific restaurants and performers also fall in this category and perhaps also things that require a lot of gas like going overseas) but it also means that that you should save for things that are not available now but will be in the future. (If I had been retiring 20 years ago, I wouldn't have known specifically to save for a personal computer, but it would still be good to have a fund for that sort of thing.)
Other things that change are us, our friends, and our circumstances. I'm always trying to take advantage of odd opportunities to do things that might not be at the top of my list such as visiting a friend who got a postdoc in Switzerland or going on the family trip to Disney World. And of course do things with friends and relatives while they're still around and friendly. And do things with your kids while they're still around. Also, I bet some movies would be more enjoyable to watch now than they will later, out of context (especially the special effects ones). There certainly some good books that I feel I'm not able to appreciate but could have if I'd read them as a kid.
Finally, some things are easier to do at different ages or different times in your life. Learning languages is easiest as a kid. Wearing braces works better when you're younger, too. Starting a business might be best either when you're young with no dependents or when your older and wiser.
Yes, save and invest for the future, but live now. Enjoy the fruits of your labor. Takes some risks, buy the things you love. Just be smart about it. Don't spend 60 years of your life in a vice grip saving every last penny, then the last 20 or so trying to catch up with what you missed. Live hard, live now, because tomorrow is not promised for anyone. If your not living your dreams, start, and enjoy the ride.
-doozieUp
http://doozieUp.com
Usually these BOGO-type promotions are there to boost tire sales on certain brands and select sizes/styles. The fact that one is older may just be coincidence, but if you're concerned, take the car in and ask that the older tire be replaced with a new one. If it's only a little older, I doubt they'll bother. If it's several years older, you should make a stink.
Inflation is likely to be 10-15% for the next decade with the governments bailout monetary policy. Therefore, the dollar could loose 70-90% of its value. Spend your dollars while they still have value.
When are you too old to accept financial help from your parents? When you figure out they don't know what there talking about since their own financial and credit situation is dismal...LOL
-doozieUp
http://doozieUp.com
pay for it with a credit card that you can't pay off at the end of the month.. that's the issue with most people.. we/me/you aren't spending what you have right now, we are spending what we think we might have tomorrow..
That sounds "ta die for". And super healthy and affordable as well.
We definately get our use of of things. Beyond the fact that we are still driving a 10 year old cherokee closly approaching 200,00 miles and the usual hand me downs of siblings, we try to do our best when it comes to the "life-use" of objects. I have repatched holes in kid's jeans and husband's workpants, as long as the cuffs are not frayed. I have turned old objects into new uses not originally intended. I think it is smart to reuse what you have not only on an economical level but an environmental level too. When you fixed your fridge you spared the landfill. And in my experiences, 8 out of 10 times if you fix something it will usually last long enough to have recieved the value of your fix.
Wow! Hit the nail on the head. But sometimes I have to wonder if we as individuals fit ourselves into what we believe we would like to be like when it comes to personality tests. I mean, we all have some traits that stand out and then we all have the traits most individuals have...it just makes me wonder! Thanks for sharing!
I think there has to be a finite balance in everything a person does within the realms of his or her life. My husband would "spend it all" on a few whims and short lasting bliss; I would plan and coddle and run it over a thousand times in my head before purchasing a simple tee shirt wondering if the guilt of buying a necessity would come back to haunt me. Then we realized the necessity of spending and saving without guilt and without shame. If there is something that is not a necessity, we find ourselves asking "Do I need it? Will it make me happy? Will it make me a better person?" And these three questions are all we need. We love to travel and will always travel no matter how little or how much money we have. So, I don't really see spending on travel as endulging, I guess it has just become a way of life for us and is unconsiously built into the budget. We enjoy good food and by good I mean if my husband "the chef in engineer's clothing" can't dish it up, there are a select few restaurants we are willing to spend the cash. But then again, if you go out to eat daily then the appeal is gone and it is more of a chore than a pleasure.
Why would they even begin this study if most Americans are spending everything they've got, and more, already? Maybe they're mining for the small population of frugal people to get them to loosen their purse strings.
I agree. . .it IS all about balance. I'm trying to live that way now. Pay the bills, save money, and use money wisely. I'd much rather save up for a beautiful night out than fritter away money on fast food and coffees. By the way, I count a night at Chez Panisse as one of the top ten meals of my life. That was well worth the price tag!
I travel now because I'm single without kids. Its the perfect time to enjoy the world. I'll hopefully continue doing so, but probably less in the future. In the same breath I'm aggressively paying off my student loans. So I agree that it's important to enjoy life when you're young, but to ALSO take care of business.
WHOO-HOO!
(That was a WaMu joke.)
I would not feel happpy spending $100 on a meal. After the last forkfull and when the bill came, I would start to feel ill. However, seeing a nice, plump bank balance makes me smile--stock portfolio goes up, I get giddy!! I guess it depends on how you grew up. People with parents (like me) or grandparents who lived through the Depression would not look favorably on this notion of spend now and to heck with later. And the apple doesn't fall far from the tree.
Thanks for the great roundup Andrea!
The Wired story is hilarious. I guess with so many terrible things happening in the market right now, people are ready to believe in the worst news possible.
"Think you need a Costco membership to get their low-priced gas? Well, not really. See, you can insert an American Express card instead of a Costco card. The pump will accept both."
But. That would be unethical. Is saving a few cents per gallon really worth doing something that's dishonest?
The article you're linking to is on Slate, not Salon.