Would you consider this or yourself greedy when you have to have something

[Azure]

Life is to short to pardon ourselves from things we want, but do not need. Of course you can be stupid as well and take yourself into debt, but people that know how to manage money properly learn to exclusivally buy most everything they want, and still be able to pay the bills.

[V]

Did they specify when they wanted the loan paid off? If you made a committment to pay it off in a period of time and had the ability to do so and still you bought clothes instead of paying back the loan I'd say you were selfish. If there was no agreement on how quickly it should be paid off, no big deal. And why the heck do your siblings care? Was it their money somehow??

Just remind me to never loan you money.

[MissKat]

Originally Posted by Super-Rye

lol I know quite a few. I wish I could do the same but lord knows when the Nintendo Wii comes out I won't be strong enough to walk out of Future Shop without one.

I cant believe Im saying this (coming from a diehard playstation fan and all), but get the 360. The graphics are just breathtaking and the fact that I can play it in HD, . I have a bad bad feeling, I will be making another trip back tommorow

[MissKat]

Originally Posted by Dominicwasalreadytaken

Bah, I still don't think it's selfish. My siblings always get on my case because I don't buy the best things for other people's birthdays, etc. but I couldn't care less. I spend the time to look for something for them, and if they aren't happy with it? Too bad.

The way I figure it, my money has one use, and only one use. It helps make my life easier. If I can retire in the next 5-10 years because I scrimp and save and spend every last penny on investing, it will be well worth it. If you feel that you would have a much more comfortable life by buying the things you want, go for it. Just don't complain when you're 40 years old and still renting out a basement suite and living from paycheck to paycheck. Just look back on how happy that $750 cell phone made you feel.

. I thought it was very arrogant of me to spend that kind of money on a phone.

That's the thing, I dont live paycheque to paycheque nor do I care to anytime in the future. But I would like to eventually plan trips around the world, go on cruises, buy some land, etc. I just want to do stuff that not everyone may be able to do in life, and that takes a lot of dedication and time. I figure you only live once, when Im 40 or even 35 I dont want to be living in some basement suite

[Incinerator]

Originally Posted by MissKat

That to me is key. Too often I buy stuff, keep it for however long a week, month whatever, until I realize that I dont "need it" and then sell it and take a loss. Very expensive way of living if you ask me.

Got any deals? I'm looking for a new phone and a camera

Seriously though, I pay off my bills every month and lock all the extra cash away in various forms of investments and GICs, and it's all set up and automated, so the bottom line is that it's a hassle for me to take out any extra cash to finance any impuslsive buys, and as a result, I rarely engage in such practice. My last impulse buy wasn't really an impulse buy, it was a necessity buy that ended up with a lot of impulse options...i.e. was gonna buy a $25000 car and ended up spending thousands more for one that's loaded to the gills. I don't regret it one bit though, it makes the daily commute a lot more tolerable, heck, even enjoyable sometimes.

[Frank the Tank]

OK I just have to ask....what in the hell kind of cell phone costs $750!?! Thats MORE than my mortgage payment. For a freakin' portable phone that you don't need. Cell phones are a (relatively) new thing. I'm only 36 and no one had cell phones even when I was in University, so the world CAN function without them.....

Anyhow, have a kid, that'll take care of your spending, cause, well, there won't be anything to spend.

[Nufy]

Originally Posted by Frank the Tank

Anyhow, have a kid, that'll take care of your spending, cause, well, there won't be anything to spend.

Have Two....

Then you have three times as less money...........

[J pold]

Well for me it’s not about things that I need, I don’t really get wrapped up in superficial things, like cell phones, Ipods, brand names or things like that, they are all empty things that we try to substitute for meaning in our lives anyways.

But that’s not to say I don’t have my spending problems, mine comes when I go out, to the bar mostly, if I have had a few, and am at the bar I can somehow justify spending ridiculous amounts of money on literally nothing, buying people I don’t even know drinks, hell 2 weeks ago at Ranchman’s I had a cute waitress and spent 100 dollars on her alone! It’s really bad I know and the next morning I beat myself up so bad

[rubecube]

Originally Posted by MissKat

Some of the worst impulse buys (though the cell phone I love it), $400 on new eyewear when I really didnt even need it, $750 on a cell phone, $400 on a Prada skirt.

Remind me never to marry you.

[V]

Originally Posted by Frank the Tank

Thats MORE than my mortgage payment.

Your mortgage payment is under 750 bucks?! Wow, colour me green with envy. I'm paying 1300 clams a month.

[TheyCallMeBruce]

Umm...I guess I shouldn't mention what I did last week that cost me $1500 then.

I have my good and bad days with money. I've been pretty stupid and spent $400 on a pair of true religions, and most recently I was gonna get a Mazdaspeed 6.

My problem is, I don't notice how much money I'm spending. I do make a pretty good living, but I think sometimes that is the problem. I draw out money and in a day or two, it's gone. I draw out some more and the cycle repeats.

I need to budget properly. Ok, no more vacations, clothes, and stupid $5,000 watches.

[Reaper]

Originally Posted by MissKat

Heck, there are some things right now that I own, that I frankly have no business owning. Some of the worst impulse buys (though the cell phone I love it), $400 on new eyewear when I really didnt even need it, $750 on a cell phone, $400 on a Prada skirt.

Any of you guys really good with controlling the spending on yourself all the time and instead doing it to others who mean a lot to you in life?

Not to sound judgemental but unless you have an income level to pay cash for any of the things you described above then you have no business buying them.

Seriously, a $750 cell phone? There is no way you can justify that in any way. Hell, you can get a free cell phone just by signing a service contract. $400 for glasses when you just want new ones? Time to prioritise your spending a bit. $400 skirt? You are just paying for the name, you know, right?

Emotional spending is probably one of the worst things you can do financially. It's one of those things where if you don't keep it in check could lead to shopping addicition.

[Cowperson]

Originally Posted by MissKat

Exactly, it doesnt do anything other than look and feel good and knowing you have a phone that not many have...very few if that. I really should do whats best and get rid of it. I know I will take a bit of a loss, but I dont need such an expensive phone.

People suffering depression often spend to validate themselves and gain a short term high . . . . . followed by a spiral downwards again as the money runs out or guilt hits them.

Set up a few accounts for different things . . . . for a trip, for a condo purchase and yes, for spending foolishly. Pay yourself first and you'll see those other accounts will give you some emotional satisfaction as well as they grow.

Cowperson

[MissKat]

Originally Posted by Frank the Tank

OK I just have to ask....what in the hell kind of cell phone costs $750!?! Thats MORE than my mortgage payment. For a freakin' portable phone that you don't need. Cell phones are a (relatively) new thing. I'm only 36 and no one had cell phones even when I was in University, so the world CAN function without them.....

Anyhow, have a kid, that'll take care of your spending, cause, well, there won't be anything to spend.

I know, I know $750 on a cell phone is ....uhhh Thats why I need to smarten up, stop being so obsessed with it and sell it, use my $100 phone.

[MissKat]

Originally Posted by Reaper

Not to sound judgemental but unless you have an income level to pay cash for any of the things you described above then you have no business buying them.

Seriously, a $750 cell phone? There is no way you can justify that in any way. Hell, you can get a free cell phone just by signing a service contract. $400 for glasses when you just want new ones? Time to prioritise your spending a bit. $400 skirt? You are just paying for the name, you know, right?

Emotional spending is probably one of the worst things you can do financially. It's one of those things where if you don't keep it in check could lead to shopping addicition.

Like many girls, I have gone through this before. Fortunately, I've been able to stay away from the mall for the last few months (thank you lord!). I had to get a new phone, but nobody said I had to get a $750 one (though it retails for $1250), so I got a deal believe it or not lol. I tend to be into the really expensive things and its obviously getting me nowhere in life. To be honest with you, I am able to pay for this stuff cash, but that is only because I dont have a lot of bills - ex. still living at home with the rents, car is paid off, done school (parents paid for it), etc. Not that Im exactly proud to admitting Im living with mom and dad still, but I will eventually hopefully be able to buy my own property.

[Frank the Tank]

Originally Posted by Dominicwasalreadytaken

Your mortgage payment is under 750 bucks?! Wow, colour me green with envy. I'm paying 1300 clams a month.

I know I totally lucked out. We bought our house at the absolute perfect time, my wife works at a bank so we get a staff rate. I pay it bi-weekly so yearly, its a bit more money out, but it'll be paid off faster.

Oh, plus my house is not that big at all. Small in fact, according to rich people.

[TheyCallMeBruce]

Originally Posted by MissKat

Like many girls, I have gone through this before. Fortunately, I've been able to stay away from the mall for the last few months (thank you lord!). I had to get a new phone, but nobody said I had to get a $750 one (though it retails for $1250), so I got a deal believe it or not lol. I tend to be into the really expensive things and its obviously getting me nowhere in life. To be honest with you, I am able to pay for this stuff cash, but that is only because I dont have a lot of bills - ex. still living at home with the rents, car is paid off, done school (parents paid for it), etc. Not that Im exactly proud to admitting Im living with mom and dad still, but I will eventually hopefully be able to buy my own property.

Yeah, I know a lot of girls who are into expensive taste. Dated a few like that too. Holt Renfrew was a regular hangout.

I think starting a seperate account is a great way of saving cash. I have several savings accounts dedicated to certain needs. I also invest a lot of my money in various savings plans. I think a good way to start is to start an account of pure savings or invest in a savings plan (or both).

[Frank the Tank]

Originally Posted by MissKat

I know, I know $750 on a cell phone is ....uhhh Thats why I need to smarten up, stop being so obsessed with it and sell it, use my $100 phone.

You know, just to try and save you some money, you don't NEED a cell phone at all. What are your monthly charges? Something like $75 I'll bet. Thats an astronomical amount of money for a phone.

[MissKat]

Originally Posted by Dominicwasalreadytaken

Did they specify when they wanted the loan paid off? If you made a committment to pay it off in a period of time and had the ability to do so and still you bought clothes instead of paying back the loan I'd say you were selfish. If there was no agreement on how quickly it should be paid off, no big deal. And why the heck do your siblings care? Was it their money somehow??

Just remind me to never loan you money.

Sorry for missing this post. Well, no there wasn't any agreement with the family, but I felt pretty bad for delaying in paying them back when I was able to. After working a 9-5 job, it finally got me to realize just how hard it is to make money and get by in life. Though, I was pretty lucky for having a really well paying job for doing practically nothing but sit there, you can't take anything for granted - obviously at that time I did. Everyone has bills to take car of and it was pretty selfish of me to not pay them back ASAP, even if I had to save up however much every week or so. Thats what I did when I started working, saved up and spent nearly nothing on myself, until I had everyone paid back. Once that was done, my spending got out of control again - $400 eyeglasses, you name it.

The good thing coming from all of this, is that I dont drink or smoke. If I did, I would be in much more in a world of hurt.

[Kybosh]

Originally Posted by Cowperson

Set up a few accounts for different things . . . . for a trip, for a condo purchase and yes, for spending foolishly. Pay yourself first and you'll see those other accounts will give you some emotional satisfaction as well as they grow.

Cowperson

Quoted for truth. I don't make a whole heck of a lot of money right now (in fact I'm technically under the poverty line) but by smart budgeting and not spending beyond my means I am able to save for things I want. At the beginning of every month I pay off all my bills/mortgage/everything else. Then I put what I can afford into my "vacation" account. For how much I make it takes a while but if I can keep it up I should be able to have a very nice (read hostels) vacation in europe next summer. After I'm finished all my schooling these practices should really come in handy.

I'm with the others though. Is there a picture of this $750 cell phone anywhere? I would like to see it.