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Reminder: Being cheap is not a pathway to wealth. Focus on increasing your income.
10-01-2023, 10:05 PM
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#1
- r32gojirra
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Reminder: Being cheap is not a pathway to wealth. Focus on increasing your income.
Why?
Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.
By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.
If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.
TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.
Inb4 Dave Ramseycels
Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.
By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.
If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.
TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.
Inb4 Dave Ramseycels
10-01-2023, 10:06 PM
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#2
10-01-2023, 10:08 PM
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#3
- r32gojirra
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Originally Posted By theory816⏩
Disregard fiat acquire landLand and resource steeling is the quickest way to wealth.
10-01-2023, 10:11 PM
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- Horizon92
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No, being cheap IS the pathway to wealth.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
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10-01-2023, 10:13 PM
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#5
Originally Posted By Horizon92⏩
Being cheap can be ineffective because lets say you need to buy medicine to cure a cough. If you buy the cheap stuff, its not effective at certain dosages. That's one of the problems with being cheap - youre not yet accomplishing the very least of whats required. Being rich often means you're doing more than is required.No, being cheap IS the pathway to wealth.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
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10-01-2023, 10:14 PM
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#6
- ErnieMccracken
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This is one of the biggest red pills about wealth. Dave Ramsay is full of chit. You're not a boomer, you have no pension, and you can't wagie slave your way into the wealth class anymore like your parents and grandparents did.
Most of the lower and middle class money is being vacuumed up by the guys at the top. You think the cost of living is going to go down? You think they'll ever be happy? The only way to win is to keep money coming in faster than Mr. Noseberg can rake it away.
Most of the lower and middle class money is being vacuumed up by the guys at the top. You think the cost of living is going to go down? You think they'll ever be happy? The only way to win is to keep money coming in faster than Mr. Noseberg can rake it away.
10-01-2023, 10:18 PM
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#7
- AlexxVann
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Originally Posted By Horizon92⏩
Would satisfy me for as long as I could live doing it to be fair.Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one..
10-01-2023, 10:20 PM
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#8
- r32gojirra
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Originally Posted By Horizon92⏩
Lowering your expectations to fit the limits of your imagination is the definition of copeNo, being cheap IS the pathway to wealth.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
Why?
Because if you are cheap, then you will get by on less money. It is infinitely easier to cultivate a disposition where you are happy with less consumation and less materialism than it is to become so rich you can buy whatever you want at all times. Rich people aren't even happier than non rich people. Lets say you were suddently worth 10 million dollars. You'd go buy a big mansion, several sport cars, have some fun investing some chit, go blow cash on hookers and coke etc. How long would this satisfy your frontal cortex? Maybe a month, maybe 6 months - at some point, however, that new Porsche wouldn't really be all that interesting. The mansion is nice but its not giving you dopamin boosts on the daily after some time has passed. You're back to square one.
The key is to have enough money so that you do not worry about financial issues and doing what you want. The way to achieve that is having reasonable goals and requirements. There is no happiness in mindlessly consuming garbage products.
10-01-2023, 10:26 PM
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#9
- Horizon92
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Originally Posted By AlexxVann⏩
The issue is that it wouldn't. You would very quickly get tired of buying car after car - and even if you kept doing it, you wouldn't be more happy than if you just had a single, properly working car for years on end.Would satisfy me for as long as I could live doing it to be fair.
Originally Posted By r32gojirra⏩
I mean, what you just said can be applied to anything. If a heroin addict just wants to take as much heroin he physically can because its so god damn sweet, but he also wants to quit because he's worried about where that might lead - do we say no, in fact your life would be better if you never took heroin in the first place, or do we say "Lowering your expectations to fit the limits of your imagination is the definition of cope"?Lowering your expectations to fit the limits of your imagination is the definition of cope
Its just a simple fact that endless consuming won't make you happy, period. Its also a simple fact that almost no one actually becomes wealthy, even though a huge amount of people try. Chasing wealth will for most end up being a waste of time. You're better off seeking true fulfillment elsewhere because not only is it much, much more realistic to obtain - its also just objectively better.
390 back squat
285 bench press
500 deadlift (I don't DL anymore)
"It's not about how much you lift. Its about how much it looks like you lift"
10-01-2023, 10:27 PM
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#10
- MustardTiger17
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I think I'll listen to Dave Ramsey instead of an anonymous gay Indian thanks
Not in the AM
10-01-2023, 10:33 PM
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#11
- ErnieMccracken
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Originally Posted By MustardTiger17⏩
brb work 10 wagecel jobsI think I'll listen to Dave Ramsey instead of an anonymous gay Indian thanks
brb drive chitty used toyota
brb spend nothing
brb live in the pod, eat ze bugs
He doesn't even follow his own advice.
10-01-2023, 10:33 PM
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#12
10-01-2023, 11:11 PM
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#13
- r32gojirra
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Originally Posted By davik⏩
Point out where I claimed to be smart, geniuscant believe you think youre smart
10-01-2023, 11:18 PM
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#14
- r32gojirra
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Originally Posted By Horizon92⏩
Your analogies are so tortured they are empaneling a jury for you in the HagueThe issue is that it wouldn't. You would very quickly get tired of buying car after car - and even if you kept doing it, you wouldn't be more happy than if you just had a single, properly working car for years on end.
I mean, what you just said can be applied to anything. If a heroin addict just wants to take as much heroin he physically can because its so god damn sweet, but he also wants to quit because he's worried about where that might lead - do we say no, in fact your life would be better if you never took heroin in the first place, or do we say "Lowering your expectations to fit the limits of your imagination is the definition of cope"?
Its just a simple fact that endless consuming won't make you happy, period. Its also a simple fact that almost no one actually becomes wealthy, even though a huge amount of people try. Chasing wealth will for most end up being a waste of time. You're better off seeking true fulfillment elsewhere because not only is it much, much more realistic to obtain - its also just objectively better.
I mean, what you just said can be applied to anything. If a heroin addict just wants to take as much heroin he physically can because its so god damn sweet, but he also wants to quit because he's worried about where that might lead - do we say no, in fact your life would be better if you never took heroin in the first place, or do we say "Lowering your expectations to fit the limits of your imagination is the definition of cope"?
Its just a simple fact that endless consuming won't make you happy, period. Its also a simple fact that almost no one actually becomes wealthy, even though a huge amount of people try. Chasing wealth will for most end up being a waste of time. You're better off seeking true fulfillment elsewhere because not only is it much, much more realistic to obtain - its also just objectively better.
10-01-2023, 11:31 PM
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I sold everything I had, rented a 400 square foot apartment and lived as cheaply as possible so that I could hire my first 4 employees.
I used being cheap to increase my income.
I used being cheap to increase my income.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
10-01-2023, 11:35 PM
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#16
10-01-2023, 11:50 PM
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#17
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Originally Posted By r32gojirra⏩
Jews and Indians would disagree. And in this country they know a thing or two about wealth. Im doing both for now.Why?
Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.
By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.
If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.
TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.
Inb4 Dave Ramseycels
Because increasing your income usually takes time. It requires hard work, often study to gain qualifications, and grinding away at a career path until you’ve got enough capital together to start investing.
You can’t suddenly increase your income overnight.
By contrast, even if you were the worst spendthrift in history, you can stop spending money instantly. Sell off the toy cars and all the insurance and maintenance costs. Stop eating at 5-star restaurants. Quit the weekly Pepsi benders. Whatever it is that’s draining your budget can literally be quit overnight.
If you build a large income, even saving a very small percentage of your income will put you miles ahead of a person with a low income but high percentage savings rate.
TLDR: if you want to be wealthy, first build your income. That’s the difficult part. Worry about the expenditures later.
Inb4 Dave Ramseycels
10-02-2023, 12:07 AM
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- r32gojirra
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Originally Posted By DuracellBunny⏩
Sure.I sold everything I had, rented a 400 square foot apartment and lived as cheaply as possible so that I could hire my first 4 employees.
I used being cheap to increase my income.
I used being cheap to increase my income.
But if you had only done the first part - living cheaply - you would be in that same situation today.
It’s the second part - the income - that is the important bit.
10-02-2023, 12:21 AM
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#19
- eddiehaskell
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Been hitting the bong again tonight and decided to grace us with your edgy advice?
It's not an either or thing. Most people can do both at the same time...reduce expenses while also working towards increasing income.
Now tell us why something that has worked for billions of people is actually wrong.
It's not an either or thing. Most people can do both at the same time...reduce expenses while also working towards increasing income.
Now tell us why something that has worked for billions of people is actually wrong.
10-02-2023, 12:22 AM
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#20
- DuracellBunny
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Originally Posted By r32gojirra⏩
You have to increase the difference between your income and expenditure, which requires you to do both. Most people increase their lifestyle to match their income; so whilst increasing their income increases their standard of living, it doesn't actually build any meaningful wealth.Sure.
But if you had only done the first part - living cheaply - you would be in that same situation today.
It’s the second part - the income - that is the important bit.
But if you had only done the first part - living cheaply - you would be in that same situation today.
It’s the second part - the income - that is the important bit.
What they have to increase is their discretionary income, as opposed to their disposable income and then limit their use of discretionary income on non-essential goods.
Screw nature; my body will do what I DAMN WELL tell it to do!
The only dangerous thing about an exercise is the person doing it.
They had the technology to rebuild me. They made me better, stronger, faster......
10-02-2023, 02:12 AM
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#21
- r32gojirra
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Originally Posted By DuracellBunny⏩
There are hard limits on how much you can decrease your expenditure, and inflation is constantly working against you.You have to increase the difference between your income and expenditure, which requires you to do both. Most people increase their lifestyle to match their income; so whilst increasing their income increases their standard of living, it doesn't actually build any meaningful wealth.
What they have to increase is their discretionary income, as opposed to their disposable income and then limit their use of discretionary income on non-essential goods.
What they have to increase is their discretionary income, as opposed to their disposable income and then limit their use of discretionary income on non-essential goods.
Less so on the income side.
10-02-2023, 04:33 AM
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#22
- MustardTiger17
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Originally Posted By Anachron⏩
No idea who cardone is, and I realize all you do is troll so I'm expecting a snarky response with a smiley face.However, I'm not sure how anyone can have an issue with the advice of living within your means, investing your income and avoiding bad debt.Just LOL @ ramsaycels srs, almost as delusional as cardonecels.
Not in the AM
10-02-2023, 04:40 AM
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#23
- r32gojirra
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Originally Posted By MustardTiger17⏩
If you read the OP, the whole post is contingent on the assumption that you want to get wealthy.No idea who cardone is, and I realize all you do is troll so I'm expecting a snarky response with a smiley face.However, I'm not sure how anyone can have an issue with the advice of living within your means, investing your income and avoiding bad debt.
If that assumption does not apply to you, then carry on as you were.
10-02-2023, 04:43 AM
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#24
- Itzblunted
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So much I can fucj everyone over and expect no one to do anything about it itt
10-02-2023, 04:46 AM
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#25
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Originally Posted By Anachron⏩
Cardone present real estate as some kind of risk-free printing press for money. He’s just as bad or potentially worse than Ramsay.It's because it's financial common sense, but the guy is making money off of it by presenting fake scenarios that financially illiterate people believe are real.
Canned beans or whatever his catchphrase is.
Canned beans or whatever his catchphrase is.
10-02-2023, 04:51 AM
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#26
- MustardTiger17
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Originally Posted By Anachron⏩
That's one of the issues I have with him, I'm not going to give up eating out. I work hard so I'll splurge when I want to. I think of him in the same regard I have for Jordan Peterson, he has some solid advice but I don't treat his word as gospel.It's because it's financial common sense, but the guy is making money off of it by presenting fake scenarios that financially illiterate people believe are real.
Canned beans or whatever his catchphrase is.
Canned beans or whatever his catchphrase is.
Not in the AM
10-02-2023, 05:14 AM
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#27
10-02-2023, 05:15 AM
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#28
10-02-2023, 06:18 AM
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10-02-2023, 06:26 AM
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#30
- LtGoose
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You forgot the part where you have to eat beans and rice. That is one of the key money saving components.
And if you get tired of beans and rice you can always move over to rice and beans.
And if you get tired of beans and rice you can always move over to rice and beans.
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