Rich/Poor mindset

Buddyboy said:
Steve,
"Shopping Aldi won't make a massive difference to most people's wealth. But driving a €100,000 Range Rover to get there will. "
I laughed at this. It appears to fly in the face of "look after the pennies and the pounds look after themselves", But if you look after the pennies, and squander the pounds........
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Except that saying means if you save small amounts, you will accumulate money. Not spend it on a €100k car :)

Gordon Gekko said:
There are also people who have the money to adopt either approach, but choose a Porsche and an Aldi product because they prefer both.

There are loads of things that are nicer in Aldi, but I’ve never seen a €30k car nicer than a Porsche.
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Not what I was talking about Gordon. ;)
 
Gordon Gekko said:
There are also people who have the money to adopt either approach, but choose a Porsche and an Aldi product because they prefer both.

There are loads of things that are nicer in Aldi, but I’ve never seen a €30k car nicer than a Porsche.
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Maybe you are looking at the wrong car.
 
I lived in the US for a few years up until 2017, and had no need for a car but lived close to a few high end dealers (Volvo, Merc, Porsche etc) and was aware of the price.

When I moved home it was finally time to buy our first car and I eagerly logged onto Volvo and I was shocked at the price vs the US. I did a comparison and the top end volvo XC60 in the US was almost half the price of the entry level model in Ireland.

I was looking at deposits of 15k plus and pcm costs of 500 upwards! I just couldn't fathom the expense and what people are paying when I see all the range rovers and other high end cars driving around Blackrock! We have significant earnings, but even a car payment puts a dent in monthly income when you account for mortgage, childcare etc. Maybe when I stop paying for childcare I can replace some of that for a Porsche!
 
Dublinbay12 said:
I lived in the US for a few years up until 2017, and had no need for a car but lived close to a few high end dealers (Volvo, Merc, Porsche etc) and was aware of the price.

When I moved home it was finally time to buy our first car and I eagerly logged onto Volvo and I was shocked at the price vs the US. I did a comparison and the top end volvo XC60 in the US was almost half the price of the entry level model in Ireland.

I was looking at deposits of 15k plus and pcm costs of 500 upwards! I just couldn't fathom the expense and what people are paying when I see all the range rovers and other high end cars driving around Blackrock! We have significant earnings, but even a car payment puts a dent in monthly income when you account for mortgage, childcare etc. Maybe when I stop paying for childcare I can replace some of that for a Porsche!
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A lot of people I knew in rural ireland would drive high end vehicles. Might use them for work related things (towing boxes, accessing farm etc).
One friend told me they got them greatly reduced as they werec
self employed. Prob some of the high end cars around are company cars also.
Mad money at minute all the same.. cost me nearly 10k for a hatchback car recently..
 
dubdub123 said:
A lot of people I knew in rural ireland would drive high end vehicles. Might use them for work related things (towing boxes, accessing farm etc).
One friend told me they got them greatly reduced as they werec
self employed. Prob some of the high end cars around are company cars also.
Mad money at minute all the same.. cost me nearly 10k for a hatchback car recently..
Click to expand...

My hypothesis is that a lot of people work in Tech and got stock annually. In most cases this stock reward was surplus income and given the bull run over the last decade was very profitable. Thus spending on a luxury car probably didn't impact overall financial goals.

With the recent downturn this surplus will greatly reduce at least in the interim.

I also look at it this way, my car sits on the driveway most of the time but If o was driving daily I'd want to spend more money on the car.
 
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