TNLib (294 posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Fri Apr-22-11 05:31 PM
Original message
Drastic times = Change in Life style
Because of the increase cost of fuel, food and other commodities I have drastically changed how I live over the past few years. I use to alway spend allot of time at malls and expensive grocery stores (like fresh market) I use to spend allot of money eating out at high priced chain restaurants like out back and Long horn. Over the years I've changed my lifestyle. I rarely eat out for dinner. I've become a vegetarian. I bought a hybrid vehicle. I moved close to where I work. I've stayed at jobs that I really don't like just to live closer to work. My mother moved in with me because she can't afford to live on her own. Now I'm starting a vegetable garden and I've always had a black thumb. I shop at the dollar tree now.
And I have a good paying stable job in IT but I feel it's necessary to make changes in my life style because of survival.
But at some point I wonder when is it going to end and how far do we need to go.
I'm starting to think we are going to back to the days where every home has a garden, farm and chickens and pretty soon we'll be putting up stables and riding horses to get around town. The grocery store may become that little country shop around the corner, but instead of being in the country it will be in the suburbs or city. I think we're going back in time. I just wonder how far back.
Well dumbass... I have always lived below what I make. I invest the rest. Why you may ask? Because I do not want to be beholden to the gummint to survive. Currently I can live 1 year with zero income, at my current lifestyle, and that is not even touching my retirement funds. It is really easy to do. A wise man, my father (may he rest in peace, 10/14/1934-04/21/2011), told me long ago that it is really easy to save. What one does is that when you are starting out you set a budget and live within it. Then when the salary advances come, you save those for the simple reason is that you are already living on what you currently make and if you take those salary advances, you will find it harder to cut back when life throws the inevitable curveball at you. He told me conventional wisdom is to have 3-6 months of savings... and he told me that is wrong. You should have at least 1 year and it is prudent to have two or even three yrs.
Once you get that, then you invest the rest in retirement. Over 40 some years, invested conservatively, you will be able to live the lifestyle that you are accustomed to in your golden years.
I have followed that advice. However in this Obama economy, I have been scrimping even more the last couple of years so I can get up to 3 years of no income and maintain my lifestyle.
It is called financial planning.
He also told me that once every third year, you should save and splurge a little bit and maybe take a vacation at the beach. Recharge your batteries so to speak. I always wondered why when I was growing up we always took a vacation every third year instead of every year like every one else.
