Anonymous
01/07/2016 13:22
Subject: How do you keep dedicated to living below your means?
We don't have a choice.
Anonymous
01/07/2016 13:21
Subject: How do you keep dedicated to living below your means?
Anonymous wrote:Anonymous wrote:Anonymous wrote:My DH and I try to live below our means. This year we bought a house that cost way less than we could afford. We're still driving old used cars. Etc. I'm usually pretty good about resisting peer pressure. I'm a lawyer and our HHI is over 300k and have friends kind of balk about our vacation (cheap, local) and other choices and point blank ask me why I don't upgrade considering my income. Our goal is financial independence, earlier retirement, funding kid's college fund -- those kinds of things -- rather than a nicer house, cars, whatever. Occasionally I find it tough to resist the pressure -- like I find myself obsessed with renovating this or that when it's not necessary and probably a bad investment at our home's price point. My question is -- if you have similar goals to us, what do you tell yourself to keep yourself in line?? I usually pull myself back from the brink but it's tough to stay disciplined. Tips welcome!
You need new friends. Why do your friends know what your income is, anyway?
They ask! Which I do find kinda tacky (esp. Because it's pretty easy to google what a biglaw person makes so I wish they'd just do that insead of making it a convo) but no one's perfect.
Well, it's tacky but also I think people would manage money better if they talked about it more. I think you should explain your financial strategy to your friends. Maybe they need help. In The Millionaire Next Door the authors found that doctors/lawyers had nowhere near the savings they should have considering their income because of lifestyle choices. Kudos to you for being an exception to that.