my dad would be proud....

[ladybug8876]

Congrats on making that financial accomplishment :clap_1: Last year I paid off all my Credit Cards and my car loan will be paid off by May this year. So I know what it is like to have that burden released.

 

[Paula]

i took after my dad in this respect, i hate to have debt hanging over my head. i think it comes from him and mom having absolutely nothing when they got married - mom said all their belongings fit into 2 cardboard boxes. my sis and i also got everything we wanted, her more so than me because she was part of the "it" crowd. i just wanted to be left alone. i think i was born 30 years old sometimes ;-)

Well done on paying off debts! Read the books, "The Millionaire Next Door" and/or "Rich Dad, Poor Dad". Both make the case to live under your means, don't worry about keeping up with the Jones's (they may look richer than you but they may not be richer than you because they are in so much debt and stress that comes with living above your means can take its toll in other ways), and if you go into debt do it for wise investments. Here's a short summary of the books that I wrote for my students who I advise to live under their means given that many will be making a lot of money (they're MBAs). The summary doesn't discuss the link between wealth and happiness -- money's effect on happiness is pretty minimal once one has enough money to pay for basic needs:

A LITTLE ADVICE ABOUT WEALTH

The media promotes the image of the wealthy person as having high status and a lot of material possessions. Yet many people who develop this image and collect material possessions aren?t wealthy. Simply stated, if a person spends all of his or her $125,000 yearly salary and bonuses on things that are not investments (e.g., expensive cars, dinners out, electronic toys, expensive vacations, etc.), then he or she may not be as wealthy as the person who earns $60,000 yet saves a significant portion of his or her salary.

In studies of people who become wealthy through their own efforts (not through their parents? gifts or inheritances), a few patterns stand out. Many people who are millionaires in the U.S. don?t look like millionaires (and those who do look like millionaires aren?t wealthy). Instead, they?re the people who save, rather than spend, a large percentage of their income. Rather than accumulating material goods or worrying about status, they get pleasure out of watching their investments grow. They tend to live below their means, invest their money wisely (they seem skilled at finding profitable investment opportunities, and spend some time every week doing financial planning.) They tend to be risk takers and are less drawn to immediate gratification. They do not dole out a lot of money to their children, except through their support of high-quality education.

The message: Your savings and investments and life choices, not just your salary, make you wealthy.

Stanley, Thomas, and William Danko, The Millionaire Next Door: The Surprising Secrets of America?s Wealth, Pocketbooks, New York, 1996; Kiyosaki, Richard and Sharon Lechter, Rich Dad, Poor Dad, Warner Books, New York, 1997.

 

[Miss Kitty]

Good thoughts, Paula. SHOP AT TARGET!!! :clap_1:

 

[iwishiwasthere]

In that case, I will definitely get in touch with an engineering firm in the area. Thanks for sharing your experience as well. I do appreciate it!

Let me know it turns out. Good luck!

 

[Mermaid]

i took after my dad in this respect, i hate to have debt hanging over my head. i think it comes from him and mom having absolutely nothing when they got married - mom said all their belongings fit into 2 cardboard boxes. my sis and i also got everything we wanted, her more so than me because she was part of the "it" crowd. i just wanted to be left alone. i think i was born 30 years old sometimes ;-)

That's pretty well the same way we grew up, Audie. We were taught to value experiences gained in life rather than material items purchased in life. I can't say it was always an easy way to live but in the long run I am grateful for that philosophy! We have a ten year mortgage on our house that is hard to live with, but I'll be dammed if I want house payments hanging over our heads when we're ready to retire and have fun. We just won't do it! I drive a 1993 Ford Explorer with 127K miles and you better believe I plan on eaking 150K miles or more out of it. Can you tell I despise debt? Our 80 year old house is another story--the maintenance for this aging beauty is worrying--but we take it step by step. Part of me wants to sell it when the kids are in college, but we are so close to paying it off! Ah, that double-edged sword we all face.

 

[audie]

my dad would be so NOT proud today, i am gonna buy a new car as soon as they locate one for me. that way i can have it and the house paid off at about the same time. happy bday to me !

 

[Miss Kitty]

my dad would be so NOT proud today, i am gonna buy a new car as soon as they locate one for me. that way i can have it and the house paid off at about the same time. happy bday to me !

:clap_1: What color?

 

[Ocean Lover]

my dad would be so NOT proud today, i am gonna buy a new car as soon as they locate one for me. that way i can have it and the house paid off at about the same time. happy bday to me !

You said you wanted a convertible and you were going to Honda I think...so are you gonna get a S2000?

 

[Mermaid]

my dad would be so NOT proud today, i am gonna buy a new car as soon as they locate one for me. that way i can have it and the house paid off at about the same time. happy bday to me !

And you should drive it top down to SoWal!!! :clap_1:

 

[audie]

You said you wanted a convertible and you were going to Honda I think...so are you gonna get a S2000?

yep i believe a silver s2000, they couldn't locate a white one for me.