What Is Enough Money?

[Madeline]

When you try to decide whether you and yours have enough money, what standard do you use? I'll admit, mine seems to vary. When I watch Suze Orman, I feel as if there's an objective formula and the question should be easy to answer.

When I talk to my kidlet, if she has a struggle with money I cannot solve for her, I feel as if I have nowhere near enough.

When I watch television, or ponder what my friends and family seem able to afford, etc., I feel I have nowhere near enough.

I've been wealth-ier and poorer than I am now. No matter how much I had, it never, ever felt like enough. Mebbe because I was poor as a child and young adult, anxiety over money has plagued me all my life when I allowed it.

But I have a home, food, a car, and money in savings. Is this enough? It would be, to 99% of the world. For most of my life, I said this was my goal, that I just wanted to feel "secure".

What standard do you use to measure "enough"? Do you look inward, to what your own needs and goals are or have been...or outward, to what you think others may have?

 

[Sky Dancer]

My whole relationship to properity changed when I traveled to third world countries. Even the poor in America have more than the poor in third world nations.

We have police, roads and infrastructure, food stamps, libraries, free public education, fire fighters, a military, hospitals, national parks, social security, welfare, charitable foundations.

We are truly a wealthy nation.

I used to have kind of a poverty consciousness. No more.

 

[FA_Q2]

Enough money is whatever I happen to have at the time. Simple. Making more is always nice but never needed and making less would mean some cutbacks.

 

[Madeline]

I guess my question is, is your sense of having enough (or not) ever affected by the apparent wealth (or poverty) of others...rather than by your own well-being? Mine is. When I realize that I feel deprived not because I need something and cannot have it, but because I think everyone else's standard of living has risen faster than mine, I get annoyed at myself.

Seems to me, this is a fairly common experience in America. But how can you "need" something you did not earlier, once you come to believe that others have it? Is that a basis for any real "need"?

 

[FA_Q2]

That's not a common practice in America, it's a common practice of mankind. I have been lucky and have never really cared what others have. I have wants but those are more concerned with what I want, not with what others have. IMHO, that attitude breeds nothing but grief and sadness. There will ALWAYS be other that are better off and have more than you do. There will always be those that have less as well. Happiness can never be found in another, you have to find that equilibrium within yourself and be happy with your goals and accomplishments. I would like to have more but I am rather content with what I have and I like it that way. Some time ago I surprised myself when I realized that me and my wife live at the same level despite changes in our earnings. When our earnings increased we simply saved the extra and not on purpose (I never could stick to a budget). Of course that has affected us negatively when our earnings drop but it has not dropped to a point where that would actually matter in at least 5 years and will not likely happen again. I believe that it is because we have never fallen into that trap of having one up on the neighbors or seeing what others have and wanting it.

 

[Douger]

Everyone is different. My neighbor is a zillionaire but drives an 8 or so year old truck, rides his horse to town to save diesel and buys his clothes from a Ropa Americana, kinda like a Goodwill store.
He's lived in the same little farmhouse for over 50 years.He's the happiest guy I know and doesn't have many material possessions. Just thousands of acres and head of cattle and some fine horses.

Then you have murkin assholes like me that have a hissy fit if I cant flip 50 grand out of my pocket for something I want.
Well. That was the old me.Florida boy.Choppers, airboats,28 foot Parker, Cat in the not so Virgin Islands, hot cars, fine jewelry, huge knife and gun collection, every decent piece of cast iron cookware ever made etc etc..
The last expensive thing I bought was a windmill. $20K, several years ago.My vehicle is a 1973 diesel Land Cruiser.I don't own a watch or any Jew_lery. I have no long pants other than bib overalls. 3 pieces of footwear. One belt.One leather jacket. One rain jacket.One hat.
I'm far happier than I ever was with all of that useless shit.

I ditched all of that crap when I realized murka and the dollar were finished and hit the road.
I was laughed at until all my buddies watched their idiocy collapsing all around them. One lives in a shed now.
$10,000 SF house, on 10 acres, with a 100,000 gallon swimming pool to a shed, in 6 years flat.
Only in murka !

The person that spoke of third world travel got it right.
Relax and don't be a CONNEDsumer.Ya can't take it with you so why have it ?

Get rid of anything you don't use or need and pay off your slavemaster. THEN You'll have enough.

 

[Newby]

Everyone is different. My neighbor is a zillionaire but drives an 8 or so year old truck, rides his horse to town to save diesel and buys his clothes from a Ropa Americana, kinda like a Goodwill store.
He's lived in the same little farmhouse for over 50 years.He's the happiest guy I know and doesn't have many material possessions. Just thousands of acres and head of cattle and some fine horses.

Then you have murkin assholes like me that have a hissy fit if I cant flip 50 grand out of my pocket for something I want.
Well. That was the old me.Florida boy.Choppers, airboats,28 foot Parker, Cat in the not so Virgin Islands, hot cars, fine jewelry, huge knife and gun collection, every decent piece of cast iron cookware ever made etc etc..
The last expensive thing I bought was a windmill. $20K, several years ago.My vehicle is a 1973 diesel Land Cruiser.I don't own a watch or any Jew_lery. I have no long pants other than bib overalls. 3 pieces of footwear. One belt.One leather jacket. One rain jacket.One hat.
I'm far happier than I ever was with all of that useless shit.

I ditched all of that crap when I realized murka and the dollar were finished and hit the road.
I was laughed at until all my buddies watched their idiocy collapsing all around them. One lives in a shed now.
$10,000 SF house, on 10 acres, with a 100,000 gallon swimming pool to a shed, in 6 years flat.
Only in murka !

The person that spoke of third world travel got it right.
Relax and don't be a CONNEDsumer.Ya can't take it with you so why have it ?

Get rid of anything you don't use or need and pay off your slavemaster. THEN You'll have enough.

Too bad you didn't have enough character to leave your prejudices behind the same way you claim to have left materialism behind.

 

[editec]

Do you have enough money to support your lifestyle?

Have you saved some for a rainy day?

If so then you're affluent.

This question is entirely subjective for most Americans.

There is really no right answer.

 

[Douger]

Everyone is different. My neighbor is a zillionaire but drives an 8 or so year old truck, rides his horse to town to save diesel and buys his clothes from a Ropa Americana, kinda like a Goodwill store.
He's lived in the same little farmhouse for over 50 years.He's the happiest guy I know and doesn't have many material possessions. Just thousands of acres and head of cattle and some fine horses.

Then you have murkin assholes like me that have a hissy fit if I cant flip 50 grand out of my pocket for something I want.
Well. That was the old me.Florida boy.Choppers, airboats,28 foot Parker, Cat in the not so Virgin Islands, hot cars, fine jewelry, huge knife and gun collection, every decent piece of cast iron cookware ever made etc etc..
The last expensive thing I bought was a windmill. $20K, several years ago.My vehicle is a 1973 diesel Land Cruiser.I don't own a watch or any Jew_lery. I have no long pants other than bib overalls. 3 pieces of footwear. One belt.One leather jacket. One rain jacket.One hat.
I'm far happier than I ever was with all of that useless shit.

I ditched all of that crap when I realized murka and the dollar were finished and hit the road.
I was laughed at until all my buddies watched their idiocy collapsing all around them. One lives in a shed now.
$10,000 SF house, on 10 acres, with a 100,000 gallon swimming pool to a shed, in 6 years flat.
Only in murka !

The person that spoke of third world travel got it right.
Relax and don't be a CONNEDsumer.Ya can't take it with you so why have it ?

Get rid of anything you don't use or need and pay off your slavemaster. THEN You'll have enough.

Too bad you didn't have enough character to leave your prejudices behind the same way you claim to have left materialism behind.

Prejudice is a disease. You catch it from idiots of every race and religion.
Some are far more likely to be ' infected carriers".Being surrounded by, and doing business with, some can give a person a terrible case of it.
The only way to get cured of it is to get far, far away from them. The recovery is quite slow.

 

[Newby]

Everyone is different. My neighbor is a zillionaire but drives an 8 or so year old truck, rides his horse to town to save diesel and buys his clothes from a Ropa Americana, kinda like a Goodwill store.
He's lived in the same little farmhouse for over 50 years.He's the happiest guy I know and doesn't have many material possessions. Just thousands of acres and head of cattle and some fine horses.

Then you have murkin assholes like me that have a hissy fit if I cant flip 50 grand out of my pocket for something I want.
Well. That was the old me.Florida boy.Choppers, airboats,28 foot Parker, Cat in the not so Virgin Islands, hot cars, fine jewelry, huge knife and gun collection, every decent piece of cast iron cookware ever made etc etc..
The last expensive thing I bought was a windmill. $20K, several years ago.My vehicle is a 1973 diesel Land Cruiser.I don't own a watch or any Jew_lery. I have no long pants other than bib overalls. 3 pieces of footwear. One belt.One leather jacket. One rain jacket.One hat.
I'm far happier than I ever was with all of that useless shit.

I ditched all of that crap when I realized murka and the dollar were finished and hit the road.
I was laughed at until all my buddies watched their idiocy collapsing all around them. One lives in a shed now.
$10,000 SF house, on 10 acres, with a 100,000 gallon swimming pool to a shed, in 6 years flat.
Only in murka !

The person that spoke of third world travel got it right.
Relax and don't be a CONNEDsumer.Ya can't take it with you so why have it ?

Get rid of anything you don't use or need and pay off your slavemaster. THEN You'll have enough.

Too bad you didn't have enough character to leave your prejudices behind the same way you claim to have left materialism behind.

Prejudice is a disease. You catch it from idiots of every race and religion.
Some are far more likely to be ' infected carriers".Being surrounded by, and doing business with, some can give a person a terrible case of it.
The only way to get cured of it is to get far, far away from them. The recovery is quite slow.

So you're blaming others for your short comings? Nice.

 

[Madeline]

Newby, sounds like Douger did what he thought he needed to get clear. Why not answer the Op yourself?

 

[dixierat]

Enough is enough to meet your expectations from life. I've made a LOT more money in the past than I do now, but I still feel comfortable. I'm still working to make more because I want more.

The real key top building wealth, IMO, is to eliminate debt. Once you've done that, you can build wealth up to the point where you can live comfortably and plan effectively for the future. The trick is to control your desires until you've reached the point of zero debt. Then pay cash or go without.

 

[editec]

Enough is enough to meet your expectations from life. I've made a LOT more money in the past than I do now, but I still feel comfortable. I'm still working to make more because I want more.

The real key top building wealth, IMO, is to eliminate debt. Once you've done that, you can build wealth up to the point where you can live comfortably and plan effectively for the future. The trick is to control your desires until you've reached the point of zero debt. Then pay cash or go without.

EXCELLENT advise, Dix.

I jettisoned the credit card lifestyle 15 years ago, and my net worth has been rising ever since.

Seriously consumer credit as currently structured is an evil system designed to keep people trapped in debt.

And Obama's so-called reform of the CC system is mostly worthless feel good BS.

When you borrow at X percent and the balance on THAT debt can change on the whim of the lender?

That's not honest capitalism, that's exploitation.

And they did NOTHING to address that problem, folks.

Merely letting people know that in 30 days they're going to start screwing them with higher rates on money ALREADY borrowed isn't reform!

 

[Newby]

Enough is enough to meet your expectations from life. I've made a LOT more money in the past than I do now, but I still feel comfortable. I'm still working to make more because I want more.

The real key top building wealth, IMO, is to eliminate debt. Once you've done that, you can build wealth up to the point where you can live comfortably and plan effectively for the future. The trick is to control your desires until you've reached the point of zero debt. Then pay cash or go without.

EXCELLENT advise, Dix.

I jettisoned the credit card lifestyle 15 years ago, and my net worth has been rising ever since.

Seriously consumer credit as currently structured is an evil system designed to keep people trapped in debt.

And Obama so called reform of the CC system is mostly worthless feel good BS.

I'm doing the same thing, on a 3 year plan to be completely debt free. It's not easy, but will definitely be worth it in the end.

 

[Madeline]

Good for all of you getting clear of debt. I wish someone had explained this to me when I was 30.

 

[FA_Q2]

Enough is enough to meet your expectations from life. I've made a LOT more money in the past than I do now, but I still feel comfortable. I'm still working to make more because I want more.

The real key top building wealth, IMO, is to eliminate debt. Once you've done that, you can build wealth up to the point where you can live comfortably and plan effectively for the future. The trick is to control your desires until you've reached the point of zero debt. Then pay cash or go without.

EXCELLENT advise, Dix.

I jettisoned the credit card lifestyle 15 years ago, and my net worth has been rising ever since.

Seriously consumer credit as currently structured is an evil system designed to keep people trapped in debt.

And Obama's so-called reform of the CC system is mostly worthless feel good BS.

When you borrow at X percent and the balance on THAT debt can change on the whim of the lender?

That's not honest capitalism, that's exploitation.

And they did NOTHING to address that problem, folks.

Merely letting people know that in 30 days they're going to start screwing them with higher rates on money ALREADY borrowed isn't reform!

So true. Debit is at the core of what has destroyed this country. If you cannot afford it you do not need it. I never understood what was going through the minds of some of my friends as I watched them amass tens of thousands of dollars in debt only to have frivolous things that they did not need. Most of what you purchase with debt does not even last long enough to outlast the bill. That is a sad way of doing things.

 

[Madeline]

All true, but lenders share some of the blame. Ever see a $50,000 car parked in the driveway of a $100,000 home? Some evil banker gave that homeowner a home equity loan or line of credit to pay for it....knowing that borrower was squandering his one chance to get on solid ground.

 

[ABikerSailor]

You know, the most I've ever netted in any one year over my entire life is 37,500/yr. I was a First Class Petty Officer on shore duty with a specialty that gave me an extra 200/month.

Middle class in America is said to start at 50,000/yr. I've never seen that at any time in my life.

But then again, the military doesn't really pay that well.

I still have a really nice bicycle (Lemond Zurich steel frame with Campy Chorus components and Mavic aero rims, around 4,000 new), still have enough to eat, still have enough to keep a roof over my head, and can afford to have a couple of luxuries every now and again.

Am I sorry that I don't make a lot of money? No. Rich people miss something that the rest of us experience a great deal of joy with........paying the final payment.

As long as I can have a full stomach a couple times per day, enough water to keep clean, and enough to pay my rent, I'm a happy boy.

BTW.......I live on 750/month.

 

[Madeline]

I was never rich, but I have been around rich people. Wouldn't wish it on my worst enemy.

 

[ABikerSailor]

Yeah......because in rich people's circles, everyone is trying to out do others by spending more than their friends.

My worth and value is not measured in cash, it's measured in the depth of my experience.