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View Poll Results: What is the primary reason why you LBYM?
A 6 4.44%
B 41 30.37%
C 8 5.93%
D 25 18.52%
E 34 25.19%
F 13 9.63%
G 8 5.93%
Voters: 135. You may not vote on this poll

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Re: Poll: Why do you LBYM?
Old 02-14-2007, 11:05 AM   #21
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Re: Poll: Why do you LBYM?

Quote:
Originally Posted by FinanceDude
I think it's "cool" to LBYM, since the average Joe won't..........

Actually, I have a few LBYM folks aroud me, and we all laugh at the new huge homes with the two new leased Lexuses in the garage that are being built nearby................
Speaking of which....

http://www.orlandosentinel.com/news/...news-headlines
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Re: Poll: Why do you LBYM?
Old 02-14-2007, 09:45 PM   #22
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Re: Poll: Why do you LBYM?

Quote:
"If I pay $1 million for the land, doesn't it reason that I'd want to put at least a $3 [million] or $4 million home on the property? Otherwise you're spending too much on the land."
Haha! Because I blew a huge wad for the land, I wanna burn even more cash on the house!

Just like, I paid too much for this Dodge Neon, now I wanna put rims, spoiler, neon lights, ground effects, etc. on it.

Hilarious.

-CC
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Re: Poll: Why do you LBYM?
Old 02-17-2007, 08:42 AM   #23
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Re: Poll: Why do you LBYM?

I'm with Master, it's H. Dreaming every day of getting out of the rat cube is the only thing that get's me through the work day sometimes.... And th ebest way to do that is to LBYM...
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Re: Poll: Why do you LBYM?
Old 02-17-2007, 09:04 AM   #24
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Re: Poll: Why do you LBYM?

I picked B - we didn't have a lot growing up, and neither did DH. We got into the habit of LBYM, and (not that we've tried) I don't think we could live any other way. Early in my life (I was 23) I had an entry-level job, then got thrust into lower-level management. The bump in pay was enormous, and I honestly didn't have a clue what to do with all that money. Then I married DH in 1980, and the 2 of us together were making about $42K. Our apartment rent was $225 a month and we both had paid-off cars and no other bills. Since we both had grown up "poor", we squirreled away money, "just in case". Fortunately, those were the days of 14-15% money market funds so we did pretty well without knowing squat about investing.

DH still worries about having enough, which at this point is ridiculous. Whenever there is a news story about the plight of the middle class, he gets upset, and I have to remind him that we are no longer middle-class.

LBYM is a state of mind.

CJ
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Re: Poll: Why do you LBYM?
Old 02-17-2007, 10:09 AM   #25
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Re: Poll: Why do you LBYM?

I was naturally frugal in childhood. I had jobs and little businesses starting whenI was 8. I sold veggies from my grandparents' farm, door to door in the city-pulled them around with my wagon. I bought model planes to build and other cool stuff, but I also liked to save. I paid part but not all of my college with jobs, usually selling jobs where I made pretty good money.

But when I got done with my education I had been around well to do people so much that I pretty well lost the habit of saving, though I was more likely to spend on recreation than on stuff.

After I had kids I figured out that I was going to have a hard time adjusting to the degree of regimentaion that most work requires, so I started saving again.

If I had had the foresight or luck to find a work that I could happily stick with I would not be a big saver. IMO, if you have any taste at all spending money is often fun. Also, many careers can give a personal power base that beats the hell out of the modest path.

Ha
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Re: Poll: Why do you LBYM?
Old 02-17-2007, 10:46 PM   #26
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Re: Poll: Why do you LBYM?

I voted for B growing up poor, although financial setbacks also played a role. When I was a kid, my friend lived in a McMansion. I got home and asked my Mom why we were poor. She said what gave you that idea. I said, when my friend made some soup, he would use whatever portion he wanted and just threw the rest away. Just the concept of throwing away something unused was alien to me. She just smiled.
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Re: Poll: Why do you LBYM?
Old 02-17-2007, 10:55 PM   #27
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Re: Poll: Why do you LBYM?

As an immigrant myself, "A" is the best choice, although several apply in my case actually.
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Re: Poll: Why do you LBYM?
Old 02-18-2007, 08:19 AM   #28
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Re: Poll: Why do you LBYM?

I have to say it is B and C. B is true and I started down that path as soon as I left home. But, I had a significant "C" experience within the first 4 years of my career and that's when I greatly improved how much I was LBYM. I realized that hard work, dedication, and results weren't what I was getting rewarded for at work and these things made my job security worse because they threatened either my manager or others in the company. I wish I would have started my own company instead of working in corporate America.
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Re: Poll: Why do you LBYM?
Old 02-18-2007, 05:29 PM   #29
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Re: Poll: Why do you LBYM?

We weren't poor, but my parents were so frugal that they obessed about money. I grew up thinking that we were poor. We were constantly reminded how much everything cost. There were 5 kids. We all went to college. However I think I'm probably the only one that LBYMs.

I don't plan on keeping it up, once I retire I will stop being so careful. I don't want to leave a large estate. What would be the point in that?
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Re: Poll: Why do you LBYM?
Old 02-18-2007, 09:07 PM   #30
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Re: Poll: Why do you LBYM?

Quote:
Originally Posted by mickeyd
I pick "B", the poor one. "We were damn poor growing up, but did not know it!"
My mother's parents were sharecroppers, called squatters, during the depression. My grandmother went to work at an armory to make bullets for the war effort (WW2). She never owned a car. She made most of her own clothes and those for her 4 children.
She stayed with my parents a lot while I grew up. She made shirts for me, too. I always got compliments on them. She could make a meal out of whatever was in the cupboard.
We had a close relationship in my childhood.

Rather than rebel against the depression-era thinking like some of my friends, I suppose I developed a deep respect for my grandmother's ability to be so happy and resourceful at the same time. I still remember a lot of her sage advice about living in a material world.

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Re: Poll: Why do you LBYM?
Old 02-18-2007, 09:14 PM   #31
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Re: Poll: Why do you LBYM?

As Mother said:

Use it up
Wear it out
Make it do
Do without
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Re: Poll: Why do you LBYM?
Old 02-18-2007, 09:38 PM   #32
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Re: Poll: Why do you LBYM?

Quote:
Originally Posted by mountaintosea
I don't plan on keeping it up, once I retire I will stop being so careful. I don't want to leave a large estate. What would be the point in that?
Some habits die pretty hard.

And the Gates Foundation will be happy to relieve us of our estate problems!
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Re: Poll: Why do you LBYM?
Old 02-19-2007, 11:21 PM   #33
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Re: Poll: Why do you LBYM?

my parents lived way below their means although they were wealthy. i was brought up saving and investing. my friends parents in general appeared wealthy but only some were, some were in debt trying to keep up appearances. my parents did not spoil me, in fact growing up i did not even get a cabbage patch doll because my parents thought it was way too much money for a doll. we were solidly middle upper class at least if you want to put a financial tag on it, but parents are immigrants so had to struggle and when i was young we were living in a poor area so i learned my lessons through parents and also watching friends parents and seeing they weren't as wise as mine. think i will raise any future children as unspoiled, otherwise they will suffer in the long run.
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Re: Poll: Why do you LBYM?
Old 02-20-2007, 06:09 PM   #34
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Re: Poll: Why do you LBYM?

I voted D... But I also had shades of B and E. I did not grow up poor, but my parents were careful with money. Both of my parents were children during the depression and experienced having little and losing almost everything. It stuck with them and they always were careful to make the most of what they earned. Some of that rubbed of on me!
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Re: Poll: Why do you LBYM?
Old 02-20-2007, 06:57 PM   #35
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Re: Poll: Why do you LBYM?

Quote:
Originally Posted by JustCurious
A) You lived in another country, and are somewhat innoculated from American consumerism.

B) You grew up poor, or, your parents lived below their means, and you never forgot the value of a dollar as an adult.

C) At some point during your adult life, you suffered some financially catastrophic event (ie loss of job, health issue, loss of family member, etc) that caused you to re-evaluate your lifestyle and adopt an LBYM lifestyle.

D) At some point during your adult life (usually middle age) you realized that if you kept spending every dollar that you made, you would not get ahead and you would never be able to retire comfortably, so you got religion and started LBYM.

E) You were born frugal, and it's just the way you are.

F) You witnessed the effects of overspending and a lack of financial discipline by your parents or other role models, and you vowed it would never happen to you.

G) A different reason. (Please elaborate)

I know that for some of you there may be a combination of reasons, but for the purpose of simplicity of this poll, please select the primary reason.
Catalyst was C.

Reinforcement was provided by F and a sense that simplifying my life was healthy for both me and the environment.
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