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Luxuries you can live without - Page 10

post #136 of 147
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For the entire 6 month period before my layoff, I was saving and investing about 70% of my gross income, and spending very little.
That is awesome. As I said above, I save about 70% of my NET, but no way gross - tax mans hand is too deep in my pocket to get anywhere near that. In fact, Id be lucky to net any where close to 70% of my gross living in New York. As far as commenting on other spending patterns - I think anyone has the right to spend their fairly earned income any way they wish. In fact, I have no problem with anyone spending even 100% of their take home. Just one condition - you never, ever, ask or expect others (gov't, family, whoever) to subsidize you at any point of your life after reaching adulthood. Thats all I ask.
post #137 of 147
Whenever anyone starts talking about consumer spending and needs, I have this horrible flashback to my college years, during which I was forced to memorize and comment coherently on Maslow's Hierarchy of Needs. (Usually at an 8:00 a.m. class in the throes of some horrible chemical-induced hangover   ) I don't know if Maslow was the theory of the moment (I think it was first published in 1943 or so), or if he has now been supplanted by more modern philosophy, but all my classes (marketing, advertising, journalism, sociology, etc.) seemed to refer again and again to Maslow. So, what we're seeing in these luxury purchases, at least according to Maslow, is personal immaturity. We buy these brand names, these overt signs of success to either satisfy our "need to belong" or our own self-esteem. In Advertising 101, we were taught the secret was to tap into either of these two needs and we've have consumers quite literally eating out of our hands. The "immature" comment comes from Maslow's contention that the highest level of need is that of self-actualization. One of my profs used "altruism" as an example; when we've finished satisfying ALL our other needs, then and only then do we move on to "serve mankind". I don't know if I've ever totally bought Maslow, but it does bring an interesting slant to what I would call pretty unrestrained, perhaps even manic consumer spending. Here's Maslow's theory: http://www.ruralhealth.utas.edu.au/comm-le....ram.htm
post #138 of 147
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(ernest @ Feb. 26 2005,09:15)
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Originally Posted by paul44,Feb. 26 2005,06:28
Savings, family and education are top priorities in most of our families.  
The perfect religious clone. Are your a mormon? My priorities is = my pleasure and happiness Education = once you are educated what do you do? After 20/25 years of study, you can say your are educated. You will not spend all your life to study. You can always learn some stuffs more but you are educated enough. Family = what do you call family? It is sensless to be the slave of people just because you are in the same familiy. For exemple you didn't choose your brother. If you don't like him (you could have never been his friend if he hadn't been your brother) I don't see why he should be a priority more than your dog or even your ties in your life. Savings = saving for what? for your grave?
I happen to be a mormon, redneck farmer who wears brown in town. (Kai, I respect your restraint w/ Ernest)
I'm at BYU right now.
post #139 of 147

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Edited by 4Mica - 8/22/11 at 1:29pm
post #140 of 147
We were taught Manslow's theory also. It's rather grey sometimes what falls into which category, and a lot depends on an individual's personality. My best friend from childhood, a man I still consider my brother, grew up with 10 siblings and was hence quite poor. My father paid for his tuition and often his clothing (since we attended a private academy, our clothing was not optional and we weren't allowed to wear private clothes such as StyleMAN described). Rather than going on to study law, which is what his father had hoped for, he decided to enter the seminary and study theology, and is now a reverend (I believe he is now a "High Reverend" or something like that). Anyway, to Mark, being a member of the clergy was a thing of great honor, kind of like being a rock star to some people, or a CEO. Mark is obviously quite proud of his accomplishment, and considers it a great achievement, as do my parents (although his, I think, are still somewhat upset that he did not pursue a higher-paying career). However, he doesn't make much money at all. He chooses to live a simple life, which he always has, even when he was a kid (we used to make fun of him for not kissing girls, smoking pot with us, not swearing, etc). He was very ambitious and extremely self-disciplined (the most disciplined person I have ever known in my life, actually - I always looked up to him for that), and would have been quite successful in whatever he chose to do. I still don't quite understand why he entered the clergy, but I do know that for him, service of this type must fall into one of those categories outside of self-improvement, or else his "self-improvement" comes before many of the other categories.
post #141 of 147
My 4th car (the Jag convertible), my jet, the butler, my mistress, the home in Vail, the flat in London, my yacht in Monte Carlo....lets see, what else, those are some tough ones, but if I must make do, well I will try.
post #142 of 147
Maslows theory is an excellent point. There are also cultural norms regarding luxuries. For instance a construction worker who shows up for work in a Kiton suit would be laughed off the job site, it would not elevate his status at all. Someone like myself, I no longer feel that expensive suits and shoes are a luxury anymore. In fact, I feel my career may have experienced a slow period with no growth simply because I did not fit into the cultural norms of the positions I was striving for. When I was younger, I probably erred on the side of saving too much and living a lifestyle of denial. Websites like this have taught me a lot and now I'm starting to reap the rewards of everything I've learned here. I agree with linux_pro, save and invest a minimum of 25% of your gross and enjoy the rest.
post #143 of 147
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Maslows theory is an excellent point. There are also cultural norms regarding luxuries.  For instance a construction worker who shows up for work in a Kiton suit would be laughed off the job site, it would not elevate his status at all.   Someone like myself, I no longer feel that expensive suits and shoes are a luxury anymore. In fact, I feel my career may have experienced a slow period with no growth simply because I did not fit into the cultural norms of the positions I was striving for.   When I was younger, I probably erred on the side of saving too much and living a lifestyle of denial. Websites like this have taught me a lot and now I'm starting to reap the rewards of everything I've learned here. I agree with linux_pro, save and invest a minimum of 25% of your gross and enjoy the rest.
don't know if this has already been said - but what i've learnt about america is: its not the high cost of living, its the cost of living too high.
post #144 of 147
Even though this thread is far from being a chocolate addict's discussion, allow me to make a couple of observations: As regards the exclusivity of Chuao/Porcelana Cacao, this is of course relative. True Chuao beans are produced only in Chuao. However, like the Porcelana and other original varieties from Venezuela, lower quality hybrids of these beans are cultivated all over the place and are still called Chuao and Porcelana. Furthermore, makers combine the Cacao with lesser varieties and still label their products with the exclusive bean names. I used to visit Chuao very frequently, mostly because of the beautiful beaches (cough cough women), and had the opportunity to tour the Chuao haciendas. They are tiny and also their production. There's a handful of European houses who access the production,  but personally I'd see a large etcetera of producers and mass availabilty with skepticism.  The small houses that manage to get the beans do so thanks  to their good connections at the source (E.g. California's Chuao Chocolatier), whereas relatively large firms use their purchasing power. Small size is usually good, but not always. Both Porcelana and Chuao are top varieties; although the latter gets more votes; which one is best depends merely on personal preference. I prefer the Chuao because it is a bit stronger. As to the rarer types from Madagascar, these are new to me. It might be an American variety in the first place, as Cacao is originary from the coasts of the Caribbean and crossed the Atlantic after colonization.
post #145 of 147
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(WhysGuy @ Feb. 28 2005,13:52) Maslows theory is an excellent point. There are also cultural norms regarding luxuries.  For instance a construction worker who shows up for work in a Kiton suit would be laughed off the job site, it would not elevate his status at all.   Someone like myself, I no longer feel that expensive suits and shoes are a luxury anymore. In fact, I feel my career may have experienced a slow period with no growth simply because I did not fit into the cultural norms of the positions I was striving for.   When I was younger, I probably erred on the side of saving too much and living a lifestyle of denial. Websites like this have taught me a lot and now I'm starting to reap the rewards of everything I've learned here. I agree with linux_pro, save and invest a minimum of 25% of your gross and enjoy the rest.
don't know if this has already been said - but what i've learnt about america is:   its not the high cost of living, its the cost of living too high.
You probably have a point. I also think there is, in general, a silly amount of consumption -- and it's most often quantity rather than quality.
post #146 of 147
Sorry for getting on board this late in the conversation but isn't every "luxury" by definition "something that you can live without" or it would be a necessity and not a luxury?
post #147 of 147
I got into this conversation pretty late. It has been pretty interesting. Of course your personnel finances plays a role in this(if you are living within or outside of your means). And as a person, what your interests are and the importance placed on that. I try not to get too involved in some pursuits, but am guilty of having to many hobbies. I do try to find the least expensive with the highest quality in whatever I am pursuing. Pots: Guilty to degree. I bought the Emeril pots made by All Clad. For the money, very nice and the same warranty. Jeans: Not Guilty- Wear them alot, but when you teach welding, well I think you get the idea. Knives: Guilty, love my wustoff Strollers: We returned two received at shower for one nicer one. Kind of Guilty Sheets: Not Guilty, but that would change if I let my wife loose. Sneakers: Not Guilty. I don't even own a pair. Watches: Wish I was guilty. Saving my pennies. Chocolates: Not Guilty Scotch: Not Guilty, bbut I mooch off of my friend who is guilty. Bathrobes: Not Guilty T.V.: Not Guilty. Up until last year, I hadn't bought anything in 12 years. Wine Glasses: Not Guilty, but I love wine.
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