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Personal Finances / Living Below Your Means


Subject:  Re: I'll never be fashionable... Date:  10/29/2013  5:05 AM
Author:  Commodore64 Number:  877633 of 902712

"I finally dipped a toe into the fashion world by buying a very nice Coach handbag."

Get a bag that does the job, for the lowest cost possible. Don't worry about what your (mostly broke) friends and (mostly broke) co-workers think.

My wife and I are multi-millionaires. Her last two handbags have come from Target. No "name brand," but knock offs that looked, and had the functionality of "designer" bags, at about 1/10th the price. Not only were they Target, they came from a Target clearance bin. The last one she bought cost $21.99- it replaced an 8-year old "Fendi" knock off (that, I think, cost about $16).

My wife's friends and co-workers are professionals, and most have designer bags and designer clothes. They think my wife and I are weird because we don't buy designer anything, don't belong to the club, and live in a part of town well outside the area where most of the upper middle class folks live.

Yet they are stunned when they find out that my wife's "payment" on her BMW is $0 (because we paid cash for it) and our mortgage payment is also $0 (paid the house off 15 years ago).

So they have big house payments, big car payments, and Coach bags (probably bought on credit). We have a paid for house, paid for BMW, and paid for Target bags.

Clearly, we don't "get it."
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