UnThreaded | Threaded | Whole Thread (52) | Ignore Thread Prev | Next
Author: Goofyhoofy Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 59650  
Subject: Re: Your Brain Wants You To Be Poor Date: 2/22/2007 2:14 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 3
I really doubt it's that simple. If it is, that would suggest that the Japanese and the Chinese (who have, by American standards, extraordinary rates of saving) are genetically quite different than us. I don't buy that.

This is a point well made. I wish you could address it to the PhD's who wrote the study.

That said, there are similar problems in other societies, including the Japanese and Chinese. There is greater "shame" there, so cultural influences certainly have some bearing, perhaps major bearing. But I don't think you can chalk it up to "all one" or "all the other."

There is no doubt in my mind that the human animal - like so many others - is wired for immediate gratification. It's just that we are also wired, at least some of us, for the reality of what that sometimes entails.

I happen to have a sister-in-law who is not. I knew people growing up who were not. My wife's (deceased) mother was not. It's like that gene was simply missing, or something.

Every large purchase should be accompanied by a question(s):
"Who are you trying to impress?"
"And why?"


I make large purchases all the time. (OK, not all the time, but frequently, sort of.) Most recently: A digital camera, a flat screen TV, an addition to the house. Never was it "to impress." I bought the TV because a lightning strike took out the old one, and as long as I needed a new one, I bought an HD model. The digital camera? The old one died. The addition to the house? To improve the layout and give us some closet space.

When I buy a new car it won't be "to impress", it will be for my own comfort, and it will be a luxury car (I have an Infiniti at the moment, and will likely repeat - although I'll wait until this one gets too expensive to maintain. I don't need "new" for the sake of "new".)

yikes, I spent $700 at Woodcraft this month

I am so glad there's not one of those close to home. :)


I am embarrassed to say that was entirely on "pen supplies." My brother in law came to visit, brought his mini-lathe, got sick and went home without it. While he is gone I decided to make some pens, and some more, and some more, and well, some more. So I have decided that all the relatives are getting pen & pencil sets for next Christmas (handmade! and pretty nice looking, if I do say so myself), and some will also get some glamour pens, and I will still have a dozen or so left over. OK, I got carried away and am justifying this short-term whim, but luckily I lose the lathe in another couple weeks, so I can't do any real long-term damage.

Maybe that's part of it. I managed to recover about $400 in "gifts" with my $700 in "spending." So I'm only down $300! At this rate I'll be saving my way to salvation.
 
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (52) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Macro Economics

U.S. Stable, Europe Stalling
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement