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- cdlavalle, on 10/12/2007, -3/+75I have seen millionaires go bankrupt multiple times and folks build a multimillion dollar a year business with less than a thousand dollars. It's all about living within your means. NEVER EVER spend more money than you have. Avoid buying anything that depreciates (car, fashion, computer) unless it will make you more money than you spend. Easy. Impressing people (including yourself) with your free spending attitude is the surest way to go broke and worse. Besides, that is the most fleeting type of glory. If you do have a lot of money, for crissakes, don't let your kids live like it. That's the surest way to create an arrogant, drug abusing sociopath. Let your kids realize the pleasure of creating something that's of value to others and they will never be poor. Some kids are lucky, and can rise above a pampered upbringing to become worthwhile human beings, but I have to say, in my experience, it is rare. Woe to the poor bastard that ends up with that little succubus. That's the second surest way to go broke.
- cbasst, on 10/12/2007, -4/+45Kevin Rose please take note.
- jonathantneal, on 10/12/2007, -20/+2Note taken, cbasst.
- ShrimpCrackers, on 10/12/2007, -2/+9Not to mention Larry Ellison who gets a new multi-million dollar toy practically every week.
I feel bad for repeating this mistake last year and owing $2,500 on top of a $16,000+ college bill. Now I feel better in a shaudenfraude way that this girl owes $12,000 in spending alone. I wasted all this money on SlickDeals/FatWallet bargains that I found myself unloading on Craigslist when the bills came. I guess I'll stop now and work out how to pay off the $2,500 and the $16,000 as soon as possible. I shouldn't be so foolish. - Osjpr, on 10/12/2007, -5/+3"that little succubus" XD
- inactive, on 10/12/2007, -2/+9I agree with cdlavalle, alot of people dont think about buying things at a young age, that will be worth something, and not end up useless.
I wish we had a list of list of things that were smart investments at any age, like land, and umm? *scratches head* any ideas? - EochaidRiata, on 10/12/2007, -1/+11"Kevin Rose please take note."
Can someone give the Cliff Notes for those of us who do not follow his personal life? - cyssero, on 04/18/2009, -0/+4cdlavalle - couldn't agree more. It's how I live and I wish more people would live within their means. I still have all the stuff they have, latest mobile phones, decent clothes, but I ensure I wait till the time is right to buy and I ensure I never pay retail. If I have to pay retail, I don't buy it. I wait until it becomes affordable. Managing your money efficiently (spend a little, save a little) is probably one of the best skills you can learn in life. You can still enjoy life while you save!
- jonesin, on 10/12/2007, -4/+16Avoid buying anything that depreciates? How are you supposed to avoid buying a car or a computer? You're not even following that advice since you posted that message with a computer.
- spoonz, on 10/12/2007, -0/+8@jonesin
The point is don't be stupid about your depreciating assets. Don't buy a $30k car that will be worth $10k in 4 years. Buy a $5k car that will be worth $4k in 4 years (see the $19k difference?). And if you buy anything that depreciates on payments (cars, computers, dinners out and well anything except houses) you can't afford it. In other words.... spend less than you make... - agimat, on 10/12/2007, -1/+9@jonesin:
Avoid buying anything that depreciates (car, fashion, computer) ..
*unless it will make you more money than you spend* - Solkre, on 10/12/2007, -0/+4You forgot. Don't get sick or need to use the medical system in this country.
I pay $600+ a month for family coverage insurance, that's the same as my rent. Yes i'm still renting, because I don't have enough to afford a house payment because of my insurance. - GeneralSun, on 10/12/2007, -6/+2I agree with most of what was said, except the part about the kid. If the money is not passed onto your child, then what is the point of making all that money? Point of money is to spoil your child, if your child turns out to be an idiot, well sucks for him/her. And he/she will be forced to become fiscally responsible. There are more ways to raise a kid than to walk him through every step of life you know.
- inactive, on 10/12/2007, -0/+5@generalsun:
i assume you are under the age of 18? maybe even
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