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16 money wasters

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Mike da Carpenter

Mike’s 1st rule of investing.  I married a smoking hot blonde who owns a hair salon.  That saves me a LOT.  I’m gonna try selling her on the new shotgun deal seeing as I have saved so much over the years by not going anywhere else.  I tell her often that if she were to get another job, I could spend more time hunting.

 

  Her biggest joke to me is...what’s the difference between a bad haircut and a good haircut?  

 

 

2 weeks.

 

 

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WI Outdoor Nut

As my father taught me, life for today, but plan for tomorrow.  I always live below my means, and that meant driving the worst car in the parking lot when I was in my 20's.  I called it trusty rusty.  It was no beauty, but it worked just fine.  From the planning perspective, I have maxed out my 401K since about 25.  Add that with 2 pensions I will be drawing from and I should be making more in retirement than I am right now.  But, I still enjoy life to its fullest incase my time comes up early, but don't do it on credit.  The only thing I own money on is my house, and should have that paid off in 6 years.  I will be an even 50 then and 100% debt free, which will be great.  Still hit up vacations, but find ways to cut cost such as driving vs flying.  Still hunt a ton, but often day hunts or stay at buddies cabins so no hotel bills.  Catch or shoot most of our protein which helps too.  All while having fun doing it. 

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atticus

Great article. I agree with uplander on travel though.  Both my wife and I love travel-- something I'm glad we passed on to our daughter.  But Disney is another thing altogether. I've spent significantly less on safaris in Africa with my wife than folks I know who broke the bank at Disney world. 

 

Travel can can be done practically. FF miles, discounted airfares, airBnB, subways and buses instead of taxis/uber. Good planning is a fun part of travel. 

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Brad Eden

Cripes, I oughta be a millionaire with a huge retirement nest egg... according to those 16 dont do's, that I don't do. Not even close, Oh well.

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Tony Moore

I remember a conversation a long time ago, a young military officer was in charge of a group of young new recruits, all received exactly the same paycheque, he observed that at the end of each month, the same soldiers were broke, some were fine, and some had managed well enough to finance their broke comrades;  people are what they are..

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stwilgefortis

 when I was growing up( in the 50’s and 60’s), it seemed like everyone in this area , including the really rich ,  avoided  ostentation, did  not  call attention to themselves ,and worked hard to blend in. People in general seemed  self effacing. Now it’s the reverse. It seems like everyone is out to create the impression of means – new cars, big houses, brand obsession , spending lots on entertainment, always eating out, sporting automobile bumper stickers that tout  where they vacation, etc. Keeping up with the Jones and materialism seem to be the order of the day,which isn’t the way to save. There seems to be little grasp of the concept of delayed gratification .maybe because my parents grew up in the teeth of the great depression, I still feel some guilt when i spend money on myself.

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Mike Connally

Ok. I read the article. Some good advice, some advice saves you so little money that it’s absurd. 

Neither my wife or I finished college. But we always had good paying jobs. We started retirement accounts when I was 18 and she was 21. We maxed out 401k’s. 

WE KEPT OUR MONEY IN THE STOCK MARKET. 

We wrote checks for our son’s tuition so that he had no debt when he graduated college. 

We didn’t use credit cards. We paid off our cars in 3 years. 

We paid off our house. We have no debt. 

It was tough, but now we are retired and very comfortable. 

Its not rocket science but it takes discipline. 

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Alaskan Swamp Collie

Interesting article, but I imagine most of us already have followed that reasoning. A big one is staying married to the same woman. Getting cut in half really throws one back and especially if you do it more than once. Our credit cards (which we pay off every month) give us frequent flier miles for cheap vacations.Quit buying new and impressive vehicles once I got married. Now my "new" pickup is a 2002 that I bought used when it was 4 years old. However we did have to buy a new boat 15 years ago and will probably keep it until we can't use it anymore. I let my wife pick out the colors and the interior, I only cared about the fishing capabilities.

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airmedic1
24 minutes ago, Alaskan Swamp Collie said:

A big one is staying married to the same woman. Getting cut in half really throws one back and especially if you do it more than once.

That is not always true.  Getting a divorce was probably the best thing I ever did financially.  Emotionally not so much but my first wife couldn't manage money and unfortunately for me I didn't pay attention until it was to late.  When we divorced I had a ton of debt I didn't even know about but I took care of it and successfully bounced back.  The lesson here is you can recover if you are willing to bust your ass.

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Don Steese
On 5/16/2019 at 8:58 PM, Mike da Carpenter said:

  I’m gonna try selling her on the new shotgun deal seeing as I have saved so much over the years by not going anywhere else.  

 

  

 

 

 

Gee...I sure hope you're able to sell her on the deal, and I hope the deal is for a shotgun that looks exactly like this!

IMG_0415.thumb.JPG.fc9db177538f8ce045fa9b8eb79646d0.JPG

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Don Steese

I don't buy new vehicles, haven't paid for a haircut in 50 years, and buy 99% of my wardrobe in thrift stores but if I had all the money I pissed away, I'd be richer than Midas!!   If some fool hadn't come along at just the right time with a boatload of money and a severe hankering for my business, I'd probably still be working! Had a helluva lot of fun though!!  God really does love me!! 

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WyomingArt

This guy blogs about living frugally as the way to financial independence and retiring early.  He has a pretty loyal following and some good ideas, esp. for young people just starting out.

 

https://en.wikipedia.org/wiki/Mr._Money_Mustache

 

 

 

 

 

 

 

 

 

 

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1971snipe
On 5/16/2019 at 4:46 PM, C.J.L. said:

 

 

I do agree on the tattoos though.  The poorest folks seem to have the most.  I guess the carnival will always have a job opening for them.  Or if they are tall, there's always basketball.  

Or Starbucks.  (Not that I frequent Starbucks ..... too much.) 

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Mike da Carpenter
1 hour ago, Don Steese said:

 

Gee...I sure hope you're able to sell her on the deal, and I hope the deal is for a shotgun that looks exactly like this!

IMG_0415.thumb.JPG.fc9db177538f8ce045fa9b8eb79646d0.JPG

 

 

In all honesty Don, this is THE shotgun I was talking about.  As of right now, it isn’t happening.  It sure is hard to say those words, but I just cannot swing it right now.

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C.J.L.
9 hours ago, airmedic1 said:

That is not always true.  Getting a divorce was probably the best thing I ever did financially.  Emotionally not so much but my first wife couldn't manage money and unfortunately for me I didn't pay attention until it was to late.  When we divorced I had a ton of debt I didn't even know about but I took care of it and successfully bounced back.  The lesson here is you can recover if you are willing to bust your ass.

Agree 100%.  When I was married last time we had a big house with land and an in-ground pool, I had a GMC truck, a Mercedes, a bass boat and she had a Suburban. All New.  What we didn't have was money.  Got divorced and lost my job at the same time so I lost everything pretty much which was a blessing I didn't see at the time.  13 years later in a little house I'll have paid off by the end of the year, with just a few new guns, my jeep as my only toy I'm pretty well off. With luck I can retire in a few years before I'm 60.  It seems I've been rudderless most of my life but I've had very favorable winds blowing me in the right direction.  

 

As for credit cards, I put everything on them.  My main card gives me cash back points and I pay it off every month.  Have never paid interest and a few months ago I cashed in my points and got $800 off my bill.  

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