There is nothing wrong with spending money

[tripods68]

My take on Suze's approach is purely based on numbers. So its not about whether Suze likes what the caller's is buying. She tries to take out her emotions (dislikes/stupid or silly) and based it on caller's financial situation; income/savings/retirement far exceeds debts. It's common sense approach we all generally go by. It wouldn't be silly to me to approved or denied anyone if she or he wants to buy an luxury Porche 911 Turbo which cost $120K. But you have to show me substantial income/pension/savings/retirements in relations to your existing debt. Of course, the key word is Substantial. That's how I would based my decision and I don't see nothing wrong with common sense approach.

Now whether or not someone dislike the common sense approach because it's perceived it as "wasteful", its sort of big brother "1984" socialistic view.

If I was the person buying the 911 Turbo responsibly, I wouldn't personally give a HOOT what other people thinks cuz it's my money, my life, and wouldn't even care whatever socialistic view spite of what you think.

[Well Spent]

I think that is more true when you are just starting out and probably don't have much in savings. As you get older, though, if you consistently live below your means and save diligently, you will have a much larger cushion to carry you through any rough spots.

My wife and I are both 44. We have savings equal to over 3 times our annual income (and probably 5 times our annual expenses). I certainly wouldn't want to burn through a lot of that money if I became unemployed, but it would be there if absolutely necessary. I certainly couldn't say the same thing 15 years ago when I was just starting out.

That's outstanding. I wanna be like you

[kork13]

If I was the person buying the 911 Turbo responsibly, I wouldn't personally give a HOOT what other people thinks cuz it's my money, my life, and wouldn't even care whatever socialistic view spite of what you think.

TOTALLY agree. Sure, I'm a little partial.... Not gonna lie, when I can afford it, I'm eventually gonna get myself a BMW M3. It just so happens that in addition to buying a home and saving for retirement and such, that car is one of my additional long-term savings goals.

Realistically, I do think that someone who has managed to make themselves successful is justified in spending some money to make themselves happy. I mean, what's the point of having the money if you can't enjoy some of it occasionally? Life isn't all about saving for and thereafter living through retirement. If anyone doesn't plan on 'living' until retirement, my sympathy goes out to the poor soul... Not to bash anybody else's thinking, that's just my opinion.

[Broken Arrow]

I guess I'm "lucky" in that I'm not really a car person. However, there's something I find hot about the Audio R8, but realistically, wouldn't mind a modest little Miata some day....

[LivingAlmostLarge]

I am going to travel the world. But I'm sure that sounds entirely selfish, wasteful, and extravagent. But it's something I want to do. Also I want to do it while saving for retirement, I don't want to wait forever and not be able to do it because of age.

[disneysteve]

I am going to travel the world. But I'm sure that sounds entirely selfish, wasteful, and extravagent.

That depends. Do you plan on backpacking across Europe and staying in hostels or using your private jet to hop from city to city where you are then chauffered around and staying in 5-star hotels with a staff of servants?

[jamiefic]

Thanks for that - that was encouraging... I think we all have our "area" where we are more likely to spend money. It is good to get an outside perspective, like on this forum, but it's also good to remember the whole picture.

[Broken Arrow]

That depends. Do you plan on backpacking across Europe and staying in hostels or using your private jet to hop from city to city where you are then chauffered around and staying in 5-star hotels with a staff of servants?

...and whether you guys take me with you!

[GREENBACK]

I think, perhaps, the key word here should be balance.
I took an Alaskan vacation a few years ago and throughly enjoyed everything about it. I spent a lot for it and some would say it was crazy to spend that much on a silly fishing vacation. I saved for it and didn't come home to any debts. It's possible to be a frugal saver and still spend money and enjoy your time on the planet if you plan it out. I save, give to charity, and don't see any reason to not pursue your passions in life as long as you can truly afford it.

[LivingAlmostLarge]

Well disneysteve, I think my DH plans on a private jet and 5 star hotels. We're too old now to backpack and we don't want to stay at rat motels anymore. We like staying in nicer places and eating whatever we want. Also we enjoying drinking and paying admission to places instead of freebies like before.

So I guess we're moving to luxury! And I am not sure if I should stuff any of you in my suitcase.

My roomie would by many people's definitions have blown all his money. He owns no home, has no retirement and is still a student at 31. He instead has travelled the world literally. Backpacked in Pakistan, India, Turkey, hiked Kilamanjaro, gone on african safari, lived/worked in malaysia and indonesia, volunteered in croatia, etc. He's seen pretty much all of Europe and Asia and a good chunk of Africa.

But to him money is not important. His parents are currently volunteering in Turjukistan with an AID relief group taking a year sabbatical from their jobs. He did that between college and graduate school as well!

So like his parents he'll work longer than maybe many here. But I think like his parents they are very happy and satisfied with life. Calling their lives extravagent maybe, but they made decisions they can live with.

[IVSPORT]

I understand the moral basis for saying some purchases are ridiculous but as cold as this sounds, we are all here talking about saving money so that we can utilize it. What's the point in saving and being thrifty if there's no reward at the end. I agree that the reward can be in the form of helping your kids or even a charitable donation and I respect anyone who does that immensely, but I also don't think you can criticize someone for buying a luxury car or a nice watch to reward themselves for years of difficult savings.

My problem lies with the multi-millionaires who make tons of those purchases without doing anything good with their money. If you have that kind of scratch, do something nice for every five luxury items you buy and that can make a huge difference.

[disneysteve]

Well disneysteve, I think my DH plans on a private jet and 5 star hotels. We're too old now to backpack and we don't want to stay at rat motels anymore. We like staying in nicer places and eating whatever we want. Also we enjoying drinking and paying admission to places instead of freebies like before.

Same here. In high school, I went camping a few times on vacation. In college and med school it was the Econo-Lodge or Days Inn for $25/night. In the early years of our marriage, it was the Quality Inn or Holiday Inn Express for $59/night. Now it is typically a Courtyard or Residence Inn for $99/night and occasionally something a little nicer for $129 or so/night. For a special occasion, it might be a Renaissance or the former Rhiga Royal in NYC for $300/night. You know what? Those $300/night places blow away all the others. If and when we can afford to stay at those kinds of places regularly, we certainly will consider it. Is it extravagant? Sure. That's why it costs so much. But if we have it to spend, we'll do it.

[GREENBACK]

Much agrred
I personally don't want to be on my death bed saying I wish I had stayed at a cheaper hotel on that fabulous vacation. If it's within your means then go for it.

[Ima saver]

Well, you all know that I married a car guy. So far, he has worked 7 days a week for over 30 years taking very few vacations or even holidays off. I feel that he has worked so hard, he deserves that $50,000 car and he has it !! We have enough in savings to pay for it 12 times over and we are not getting any younger!!

[LivingAlmostLarge]

But Imasaver that would be extravagent! LOL! :P I love the fact you have such cute corvettes though! Very nice!

Now if I could rent one for the Autobon...