No. of Recommendations: 0
With this subject I am reminded of two friends of mine who is quite wealthy compared to the rest of the group we hang around. I am most likely have the third highest income in my group of 30 people. The first two are self employed, one with a strong business handed down from his parents and the other a financial services rep (yes he's the guy who makes money off of non Foolish people). The first has all the toys and also likes to go out to dinner and to the bar 3 or 4 times per week. The is always wining and dining clients aswell, but that is tax deductible. So their lifestyles are quite extravagent.

My remaining friends always lump me into the same catagory as them. Always commenting on my old TV and VCR amoung other things. When they ask why, with all of my money, don't I buy a new TV, I respond "I have other things I want to do with my money". SOmeday I will have a new TV and VCR, brand new furniture in the living room. But right now I would rather buy myself a new bed and bedroom furniture, X-Country Skis (which by the way are an excellent way to save money when you are in the mountains), and other things.

It makes me feel pretty good when people who make twice what I do talk about the fact that they have no savings and have to borrow money because there check hasn't gone through.

I have friends in their 30's with 6 figure income with about the same savings that I do at 24. Their priorities are all screwy. I find it hard to resist spending money and I still have my times of weakness, but my times of stregth more than make up for them, at least that is what I am hoping.

Print the post  


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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.