Dont forget fastlaners...be cheap, that's how you get rich! LOL

[Z5 FILMS]

I see these type of articles all the time. I was just reading this one and had to laugh.

It basically says "To build wealth, save your money and pinch pennies".

Warren Buffet lives in the same house he bought 50 years ago so that's what you should do too. LOLOLOLOL.

Yahoo! Finance - Financially Fit

I don't know anyone driving a Rolls Royce Drophead with money they bought from skipping on Starbucks and buying Dunkin Donuts coffee instead.

 

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[Kak]

Yeah where's the 25 year old retired guy tha made his money in mutual funds and 401ks? Haha the slowlane is a total joke. I can't believe people decide (yes decide) to live life like that. They are alyays the people that say they want to be happy, well money buys me fun and time, that will make me very happy.

 

[MJ DeMarco]

There also is considerable evidence that "social-spending" is highly correlated to happiness. Social spending is going out to dinner with friends, traveling, joining various clubs/sports leagues, etc.

 

[wallstreet]

I wouldn't completely knock being cheap though. It's a really good mindset to have while boot strapping a start-up.

 

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[Kak]

There also is considerable evidence that "social-spending" is highly correlated to happiness. Social spending is going out to dinner with friends, traveling, joining various clubs/sports leagues, etc.

I find social spending to be a blast!! :cheers:

 

[Limitless]

I see these type of articles all the time. I was just reading this one and had to laugh.

It basically says "To build wealth, save your money and pinch pennies".

Warren Buffet lives in the same house he bought 50 years ago so that's what you should do too. LOLOLOLOL.

Yahoo! Finance - Financially Fit

I don't know anyone driving a Rolls Royce Drophead with money they bought from skipping on Starbucks and buying Dunkin Donuts coffee instead.

Warren Buffet has been a cheap a$$ all his life for a different reason than what those articles say. The financial guru's advice is to sacrifice what you want now for a better tomorrow.

But that's not what Buffet has done. He just doesn't care about a flashy life style, he never did. He could have been living it up in his late 20's but that was not his personality. That is why he donated half of his money. Accumulating money for buffet has been like a game doing what he loves to do. He wasn't penny pinching so that he could retire rich.

I don't think Buffet is a good example for what the financial gurus preach.

 

[Strewth&Dodgy]

I can't help but wonder if this article is a surruptious method of holding the masses in check.

Nuggets like "live below your means" - yeah, tell that to the folks showing up at WalMart in
the middle of the night. The article makes wealth seem unobtainable to them locking them
firmly into their place in society as a worker.

Then there is the creation of the fear of wealth by stating that "Many times, friends and family
take advantage of the rich".....yea, and many times they get the swiftly showen the door.

The overall message is no point in getting rich as you won't spend it - just look at poor Mr Buffet.
He's put in all that effort and look where it got him!

 

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[Kak]

Yeah Buffet made Billions by being cheap... That is hilarious. :smilielol:

 

[Fermovian]

Yeah Buffet made Billions by being cheap... That is hilarious. :smilielol:

Actually, that is not far off the mark.

He is a value investor and his philosophy is to buy companies at a discount to their intrinsic value. I know I am being a bit too literal here, but if you use a certain philosophy in one area of life it is bound to come out in other parts of life. Same with Sam Walton, who created Wal-mart.

The difference of course is that they wouldn't have gone broke once they had made their money if they had abandoned their way of life once they had made it. Still, when your starting out almost everything goes into your business.

 

[Russ H]

"Live below your means" is actually fastlane advice, too.

If you don't learn how to live below your means, you will always be spending more than you take in-- going deeper and deeper in debt with each passing day.

Many see living by credit cards and living a debtor's lifestyle as "the way everyone lives", so they must, too.

These folks look at actually living within your budget/income as being "cheap".

Not so.

You need to get that money coming in before you spend it-- not the other way around.

Otherwise, you're just a 30K millionaire . . .

[video=youtube;oKwA8pFJvJc]http://www.youtube.com/watch?v=oKwA8pFJvJc[/video]

-Russ H.

 

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[FastNAwesome]

There also is considerable evidence that "social-spending" is highly correlated to happiness. Social spending is going out to dinner with friends, traveling, joining various clubs/sports leagues, etc.

This has proven to be very true for me too.

I find social spending to be a blast!!

Cheers to that