More money than sense...

[bpsmith]

I understand the saying perfectly. Essentially it's about people who have decent money coming in, but don't spend it wisely or strive for any value for money in their spending. They just waste money and spend frivolously and have very little to show for it after it's been spent.
For example, I know people who spend money like water; they run expensive cars, go on expensive holidays, buy expensive clothes etc - BUT, and here's a big but, they still live in rented accommodation, have no financial investments, no private pension, and bugger all savings in the bank. Some are seriously in debt and spend a fortune on loan/CC interest repayments. Their existence is all about projecting a certain image of wealth, but it's an illusion, in reality they haven't got a pot to pee in that actually belongs to them. On the other hand, you could be forgiven for thinking I was living hand to mouth, because I don't splash cash around, whereas I do have my own paid-for house, investments, pension, and savings. I'm happy to spend on the right things but if and only if, I believe that what I'm spending on offers VFM and the thing I'm buying has some intrinsic value.

So, based on your explanation, they actually don’t have more money than sense.

With respect to the way that you’re careful with your cash, there’s admiration in that whilst at the same time some people might think you actually have more money than sense by not enjoying it.

My point is, there is a happy medium surely, where you don’t spend beyond your means but that you also enjoy your earnings.

I know that you will reply stating that you do enjoy what you have, but we are discussing how others perceive you to be, when it comes to the title of this thread. Don’t judge others as you wouldn’t be expected to be judged yourself.

 

[BoldonLad]

........., when it comes to the title of this thread. Don’t judge others as you wouldn’t be expected to be judged yourself.

Quite! Each to their own, who cares what anyone else thinks?

 

[screenman]

What is a lot of money?

 

[JhnBssll]

I had quite a lengthy discussion recently with a group of friends about our financial situations - it very rarely happens that people open up about money so it was quite refreshing. It was also very interesting to see that between the 8 of us there were very few similarities in how we earned, spent and saved our money.

I guess what I'm trying to say is it's a very personal decision and there really is no right or wrong way to do it as long as you maintain a roof over your head and running water..! Our household has a decent income but we've still got some debts - does that stop me buying new things? Within reason, no. Would some others disapprove of our spending habits? Yes, and a few of our friends are quick to take the mick Do I care? Absolutely not I work very hard for my salary, as does my wife. If I want to buy a remote control monster truck on a whim I will jolly well do so

vanessa's lunchbox

• JhnBssll
• 11 Feb 2018
• 3

 

[bpsmith]

I always wanted one of those as a kid @JhnBssll, but my parents just simply didn’t have the cash. I did have a cheaper alternative which I loved nonetheless. Did I rubbish anyone who had the real thing? No. Would I still like the real thing? Definitely!

Enjoy what makes you happy!

 

[Gravity Aided]

I had quite a lengthy discussion recently with a group of friends about our financial situations - it very rarely happens that people open up about money so it was quite refreshing. It was also very interesting to see that between the 8 of us there were very few similarities in how we earned, spent and saved our money.

I guess what I'm trying to say is it's a very personal decision and there really is no right or wrong way to do it as long as you maintain a roof over your head and running water..! Our household has a decent income but we've still got some debts - does that stop me buying new things? Within reason, no. Would some others disapprove of our spending habits? Yes, and a few of our friends are quick to take the mick Do I care? Absolutely not I work very hard for my salary, as does my wife. If I want to buy a remote control monster truck on a whim I will jolly well do so

vanessa's lunchbox

• JhnBssll
• 11 Feb 2018
• 3

Speaking of skips and such, before they had bins in our area, I found a remote control car, very nice, and the remote control once on trash day. I still have it, until it can get made into guidance for something more my style.

Susan Constant.
I have a book of plans, and the history of her replication.

 

[SkipdiverJohn]

That’s what’s known as a “tightwad” .

No, there's an important difference between frugality based on VFM criteria and being downright miserly, just for the sake of not spending anything. I don't see any point in depriving myself of say, a nice meal and a few beers just so I can swell my bank balance by a relatively trivial sum. All you achieve by doing that is have a miserable standard of living when you don't actually need to. What I never do though, is spend frivolously, or pay what I consider an excessive or even rip-off price for something. If I'm happy I'm getting a deal, new or used, I'll spend the cash. If I think it's a fantasy price that bears no relation to an item's true worth, I sit on my hands and let someone else get ripped off.

Screenman, I daresay if I earned 5 times what I do, I would have a somewhat more casual attitude to discretionary spending - but only to an extent. If you have an inherently frugal nature, originally driven by necessity, suddenly having much more disposable income is not going to radically change one's conception of what is good value, and if I'm not getting perceived good value, the cash stays in my pocket. The absurd Hermes road bike would not find a customer in me, no matter how much I could afford. Most ordinary mortals rightfully regard those people who spend silly amounts just for a brand name, as complete idiots and sad fashion victims. I would sooner get ribbed for pulling something out of a skip than get ridiculed for spending thousands on something just for the designer name.

 

[Gravity Aided]

I mostly like to support my hobby my self, through sales and service and work at the co-op. I have some pretty nice machines for a hobbyist living in the Midwest United States, but all have been bought with money or trade the bicycles have brought in.
This does 2 things:
1-pays for the bicycles, and
2-keeps me in a network where I am the first to learn of anything coming up in terms of trades and such.

 

[Markymark]

No, there's an important difference between frugality based on VFM criteria and being downright miserly, just for the sake of not spending anything. I don't see any point in depriving myself of say, a nice meal and a few beers just so I can swell my bank balance by a relatively trivial sum. All you achieve by doing that is have a miserable standard of living when you don't actually need to. What I never do though, is spend frivolously, or pay what I consider an excessive or even rip-off price for something. If I'm happy I'm getting a deal, new or used, I'll spend the cash. If I think it's a fantasy price that bears no relation to an item's true worth, I sit on my hands and let someone else get ripped off.

Screenman, I daresay if I earned 5 times what I do, I would have a somewhat more casual attitude to discretionary spending - but only to an extent. If you have an inherently frugal nature, originally driven by necessity, suddenly having much more disposable income is not going to radically change one's conception of what is good value, and if I'm not getting perceived good value, the cash stays in my pocket. The absurd Hermes road bike would not find a customer in me, no matter how much I could afford. Most ordinary mortals rightfully regard those people who spend silly amounts just for a brand name, as complete idiots and sad fashion victims. I would sooner get ribbed for pulling something out of a skip than get ridiculed for spending thousands on something just for the designer name.

Why do you assume it’s beung bought for the name? Maybe soomeone thinks it’s well made, looks nice and couldn’t care less about the price tag? People buy things fir different reasons. There must be several million people with bikes in the U.K. plenty will buy on aesthetics and fir those who dint bother worrying about price tags, this will rock some people’s boat.

I’m glad it annoys you though.

 

[youngoldbloke]

No, there's an important difference between frugality based on VFM criteria and being downright miserly, just for the sake of not spending anything. I don't see any point in depriving myself of say, a nice meal and a few beers just so I can swell my bank balance by a relatively trivial sum. All you achieve by doing that is have a miserable standard of living when you don't actually need to. What I never do though, is spend frivolously, or pay what I consider an excessive or even rip-off price for something. If I'm happy I'm getting a deal, new or used, I'll spend the cash. If I think it's a fantasy price that bears no relation to an item's true worth, I sit on my hands and let someone else get ripped off.

Screenman, I daresay if I earned 5 times what I do, I would have a somewhat more casual attitude to discretionary spending - but only to an extent. If you have an inherently frugal nature, originally driven by necessity, suddenly having much more disposable income is not going to radically change one's conception of what is good value, and if I'm not getting perceived good value, the cash stays in my pocket. The absurd Hermes road bike would not find a customer in me, no matter how much I could afford. Most ordinary mortals rightfully regard those people who spend silly amounts just for a brand name, as complete idiots and sad fashion victims. I would sooner get ribbed for pulling something out of a skip than get ridiculed for spending thousands on something just for the designer name.

Spot on!

 

[Cuchilo]

I find it interesting that for someone who calls himself frugal he finds spending money on cars , alcohol and eating out good value for money .

 

[SkipdiverJohn]

I find it interesting that for someone who calls himself frugal he finds spending money on cars , alcohol and eating out good value for money .

All those things above are far better value in terms of what enjoyment you get for your money than buying expensive high end road bikes! I see no meaningful benefit to owning a bike that cost £10k rather than owning one that cost £1k or less. You're paying £9k extra to save maybe a pound or two in weight, and that's about it! I'd sooner put the £9k I'd have left over to better use on other things that would give me an overall higher standard of living, such as having a nice warm car to drive around in - whilst the cyclist who doesn't drive cars is getting blown all over the road by gusts of wind and his face pelted with hailstones, like during the crap weather earlier this afternoon!

 

[JhnBssll]

And that's absolutely fine We're all different

For example I used to love spending money on beer but I've now been teetotal for 18 months for health reasons. I don't smoke either so have plenty of spare money to splash on bicycles

 

[Cuchilo]

All those things above are far better value in terms of what enjoyment you get for your money than buying expensive high end road bikes! I see no meaningful benefit to owning a bike that cost £10k rather than owning one that cost £1k or less. You're paying £9k extra to save maybe a pound or two in weight, and that's about it! I'd sooner put the £9k I'd have left over to better use on other things that would give me an overall higher standard of living, such as having a nice warm car to drive around in - whilst the cyclist who doesn't drive cars is getting blown all over the road by gusts of wind and his face pelted with hailstones, like during the crap weather earlier this afternoon!

I think that's where we differ and you dont want to understand that . Setting the bar at your own standards and everyone else is getting ripped off if they dont agree with you .
I find eating out and having a few beers a waste of money as i'm a pretty good cook and beer is beer So i would need to go to a place where the chef is pretty bloody good for me to enjoy the food . With that is a ("rip off cost " as you would call it ) I would rather do that or cook myself .
I was out today on my TT bike training for the summer races . Yes it was cold and hailing but i loved it as i have clothes that keep me warm . I also had a bit of banter with about 5 or 6 other people out in it all having great fun .
Would i have gone out today for a drive . NO !
This afternoon i rode to the fish mongers about 5 miles away . The weather was still crap as you know but i would rather ride through the nature reserve than sit in traffic .

 

[screenman]

Nature reserve? where is that. OT I know sorry.