I would imagine the OP could afford a good psychiatrist if he should suffer one.
Car spend appropriate to my earnings!
- Thread starter MrViking
- Start date
Powderfinger
Registered User
- Messages
- 22
You must have a big mirror Gordon.
That comes across a bit sarcastic.
I think he already gave the formula; hard work and careful financial planning.
And sometimes it's nice to have stuff.
Sure, but sometime expensive things own you as much as you own them. An expensive car being the obvious example.
This topic came up a while back with someone and articles like https://www.creditunion.ie/blog/how-much-should-you-spend-on-a-second-hand-car/ surfaced where the rolling advice is "The general option: spend 35% of income on your car". I've never understood how some people can be spending more on their car than their accommodation, while just viewing it as a tool, and not see it as their head is on fire.
very good friend of mine, mortgage free, comfortable bank account, drives a 1990's red car that he calls the pink one (super faded), for him it works almost as a filter....gets rid of the ones who don't matter. (Those who matter don't mind, and those who mind don't matter).
This is like those "you should spend X times your income on the engagement ring" rules. Load of you know what....
Gordon Gekko
Registered User
- Messages
- 7,843
“This rule of thumb was helpfully brought to you by a) The Jewellery Industry, and b) Women.”This is like those "you should spend X times your income on the engagement ring" rules. Load of you know what....
Specifically De Beers
The Incredible Story Of How De Beers Created And Lost The Most Powerful Monopoly Ever
www.businessinsider.com
A fascinating article on the diamond monopoly.
"Through advertising, men were convinced that the size of the diamond in an engagement ring showed how much they loved their fiancée. Movie stars were shown wearing diamonds in the relatively new motion pictures. And the most effective piece of advertising came in 1947, with the creation of the tag line "A diamond is forever." This later become the company's official motto.
As a result of these campaigns, the number of brides receiving engagement rings, and diamond prices in the U.S., increased dramatically."
Ironically, diamonds aren't forever, and will be destroyed by fire, being carbon based.
(Apologies for thread drift).
Yes - this programme was very interesting/entertaining on that marketing master stroke:
BBC Radio 4 - Marketing: Hacking the Unconscious, Series 1, Diamonds and the Peacock's Tail
The ad slogan that changed our culture, and the psychology that still powers it.
DazedInPontoon
Registered User
- Messages
- 374
OP's terrific post #58 has it right in my opinion. It's similar to my philosophy - figure out what material items actually bring value to you versus what they cost and spend money on them. Save/invest the rest until it reaches critical mass and then use it to eventually buy yourself freedom and time.
Declining to participate in keeping up with the Jones's can be a good filter too. Those who would judge you by something like what car you have are often people to avoid anyway.
Declining to participate in keeping up with the Jones's can be a good filter too. Those who would judge you by something like what car you have are often people to avoid anyway.
time to plan
Registered User
- Messages
- 910
Unless you're someone who judges people by something like what car you have.
But to be fair it works both ways. Who can honestly say they've never judged someone for driving a Range Rover Evoque?
EvenStevens
Registered User
- Messages
- 72
I just replaced my 16 year old car with a 4 year old car. I was saving for and buying a house in the last few years so it just wasn't an option to buy a another car. For me I'm not too bothered as long as it gets me from A to B in one piece. My last car owed me nothing by the end but it was starting to cost a lot every time I went to the garage and i was at the point where I wouldn't have trusted it on a long journey.
My new car isn't fancy but the fact the back doors open without having to have " the knack" is very refreshing. I also have a cupholder on the drivers side which gives me a strange amount of joy...
My new car isn't fancy but the fact the back doors open without having to have " the knack" is very refreshing. I also have a cupholder on the drivers side which gives me a strange amount of joy...
Yea, guilty as charged.