Reply to Anyone live below their means?

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[quote=Anonymous]Most of the items listed as avoided spending in this thread are so insignificant - eating out at lunch, coffee, the occasional fashion splurge, etc. These things don't make or break the finances of someone who is making bank. Neither is buying a luxury car if you stick with a car for 3 years and limit the purchase price to about 2 months of gross monthly income. You'll end up getting maybe 50% of the car on resale and end up spending one monthly gross income to drive the car for 3 years - again not a huge deal. Similarly, homeownership with an expense ratio of 28% to gross income is perfectly comfortable.

Where people get in trouble most often is truly frivolous spending - paying money for things they don't derive an adequate level of utility out of. Owning multiple expensive suits that they wear a few times a year; home renovations with exotic fixtures and materials; excessive fine dining; excessive travel experiences; owning a boat; getting married for the wrong reason or to the wrong person; etc.[/quote]

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