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Living Beyond Their Means...

post #1 of 144
10/4/09 at 9:55pm
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Quote:
Originally Posted by sho'nuff View Post
Don't live beyond your means. Period.
What makes people want to do it?
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post #2 of 144
10/4/09 at 10:15pm
They see people who have money and aren't living beyond their means and want the same lifestyle. Or in many cases, they know someone personally with more money and want to compete with them. This is why often people make Toyota Camry money, and buy Mercedes C-class cars. It's human nature to compete, so people will always live beyond their means, no matter how many recessions it leads to.
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post #3 of 144
10/4/09 at 10:19pm
many people don't even know what their means are. if you owe 500k on a 500k house it isn't an asset. if you have 20k in savings but 20k in debt, you have no savings.
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post #4 of 144
10/4/09 at 10:20pm
Quote:
Originally Posted by thekunk07 View Post
many people don't even know what their means are. if you owe 500k on a 500k house it isn't an asset. if you have 20k in savings but 20k in debt, you have no savings.

Including you, apparently.
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post #5 of 144
10/4/09 at 10:21pm
^yeah, agreed. am definitely living above mine.
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post #6 of 144
10/4/09 at 10:23pm
My parents definitely do this. We are up to our eyeballs in debt. Endlessly pisses me off.
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post #7 of 144
10/4/09 at 10:27pm
i do it from time to time with my wife, we will get bored sitting around the house then go on a 3 day shopping spree to only kick ourselves for it later. I am not sure why other than boredom?
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post #8 of 144
10/4/09 at 10:28pm
Quote:
Originally Posted by TyCooN View Post
What makes people want to do it?

Ego
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post #9 of 144
10/4/09 at 10:31pm
^it's having the wrong idea of comfort or what you deserve or what is owed to you.
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post #10 of 144
10/4/09 at 11:13pm
I have no idea why someone would live beyond their means, but then again, apparently living below your means and being an ant doesn't necessarily mean you'll not get caught in the fall out from all the grasshoppers.
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post #11 of 144
10/4/09 at 11:18pm
Irrational belief that you'll somehow have the money in the future to easily cover the expense you are creating now.
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post #12 of 144
10/4/09 at 11:22pm
This phenomena exists at almost all income levels. For as many people there are making Camry money and buying a C-class I'd bet there are the same amount of people making C-class money buying a CLS.

Look at how many millionaires go bankrupt, or people who rely on bonuses or pay-for-performance money to pay for things. Those people live a risky life because they make a shit base salary compared to the huge bonuses. One year with no bonus could spell disaster.
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post #13 of 144
10/4/09 at 11:35pm
Quote:
Originally Posted by Piobaire View Post
I have no idea why someone would live beyond their means, but then again, apparently living below your means and being an ant doesn't necessarily mean you'll not get caught in the fall out from all the grasshoppers.

Im afraid you might be right. We may have reached a critical mass of dumbass grasshoppers. The next few years are going to be interesting and may cater to the problems of grasshoppers at the expense of ants like me. It looks like the mayans may have been right after all.
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post #14 of 144
10/4/09 at 11:37pm
Quote:
Originally Posted by redcaimen View Post
Im afraid you might be right. We may have reached a critical mass of dumbass grasshoppers. The next few years are going to be interesting and may cater to the problems of grasshoppers at the expense of ants like me. It looks like the mayans may have been right after all.

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post #15 of 144
10/4/09 at 11:39pm
hits close to home.

Quote:
Originally Posted by LVoer View Post
This phenomena exists at almost all income levels. For as many people there are making Camry money and buying a C-class I'd bet there are the same amount of people making C-class money buying a CLS.

Look at how many millionaires go bankrupt, or people who rely on bonuses or pay-for-performance money to pay for things. Those people live a risky life because they make a shit base salary compared to the huge bonuses. One year with no bonus could spell disaster.
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