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10-04-2007, 04:29 PM
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#41
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: Independence
Posts: 7,175
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"Pay yourself first." 'Do or do not - there is no try' - Yoda.
Those 2 statements kinda point up an issue i have with the world of today. Seems to me that a person's word is no good if it's dependent on the situation of the moment: if "pay yourself first" means "screw the lawful debts (contracts, promises) I've made - I'm getting mine first" then I have a problem with it. Seems that too many people are too willing to accept that if something is difficult or costs too much to perform that it's just fine to break the contract.
Kind of feels like a twelve step sort of thing - "everybody fails, we're all human, saying you're sorry = performance". For too many the attempt is a feeble gesture and the focus is on the payoff rather than the job at hand. The person that says they'll try to start at 8, finish the paper on time, pay the rent, land the plane at LAX - whatever - is not the person I want making the attempt. "Pay yourself first", to me, sends the wrong message to our youth, dilutes the social contract, and poisons our American culture. It's like those which one doesn't fit questions:
1. Do or do not, there is no try.
2. Ask not what your country can do for you, ask what you can do for your country.
3. Pay yourself first.
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10-04-2007, 04:42 PM
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#42
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Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,588
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Interesting ... now if I only had a nickle for every time a tenant paid himself first.
__________________
FIRE'd since 2005
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10-04-2007, 05:05 PM
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#43
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Recycles dryer sheets
Join Date: Jul 2007
Posts: 229
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To me "pay yourself first" means save, i.e. put it in 401k before you even get it home. Save it before you spend it. There may be several other meanings for that phrase, but I always connected it with saving money and being responsible.
Pay yourself first is one of the most basic financial principles there is . . . or so I thought. Maybe that is one of many meanings?
http://finance.yahoo.com/expert/arti...llionaire/2058
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10-04-2007, 05:32 PM
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#44
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,628
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 Quote:
Originally Posted by TexasGal
To me "pay yourself first" means save, i.e. put it in 401k before you even get it home. Save it before you spend it. There may be several other meanings for that phrase, but I always connected it with saving money and being responsible.
Pay yourself first is one of the most basic financial principles there is . . . or so I thought. Maybe that is one of many meanings?
http://finance.yahoo.com/expert/arti...llionaire/2058 |
I agree with you, TexasGal.
Perhaps calmoki is confusing the phrase with "Look out for number 1"?
2Cor521
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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10-04-2007, 06:56 PM
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#45
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Orlando
Posts: 2,601
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1. Get a college degree.
2. Read "The Four Pillars of Investing."
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10-04-2007, 07:43 PM
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#46
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Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
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Save early because of the compound effect.
Every penny counts toward saving!
Avoid debts if possible.
Pay your bill as you receive it.
Buy reliable used cars, i.e., Toyota, Honda, etc.
Resist the temptations to time the market.
Money should not be the main goal in life. Take time to enjoy life instead of focusing constantly of making money and not spending time with friend and family.
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10-04-2007, 10:57 PM
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#47
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Full time employment: Posting here.
Join Date: Nov 2005
Posts: 655
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Quote:
Originally Posted by Spanky
Save early because of the compound effect.
Every penny counts toward saving!
Avoid debts if possible.
Pay your bill as you receive it.
Buy reliable used cars, i.e., Toyota, Honda, etc.
Resist the temptations to time the market.
Money should not be the main goal in life. Take time to enjoy life instead of focusing constantly of making money and not spending time with friend and family.
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I agree with Spanky that spending time with friend and family is important. I missed a family reunion once because I didn't want to spend the money for travel and have regretted it ever since.
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10-04-2007, 10:59 PM
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#48
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gone traveling
Join Date: Oct 2007
Posts: 1,135
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Simple - pay yourself first.
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10-05-2007, 02:39 AM
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#49
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Thinks s/he gets paid by the post
Join Date: Apr 2005
Location: Duesseldorf, Germany
Posts: 1,198
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Establish the habit of saving a portion of income. Balance your investments.
Differentiate wishes from needs carefully.
Avoid debt. Repay mortgage asap.
Invest time and resonable $ to connect with family and friends.
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10-05-2007, 07:13 PM
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#50
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Full time employment: Posting here.
Join Date: Oct 2007
Location: Montreal
Posts: 940
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Cautious lot so far,any one into the "he who dies with the most toys wins"philosophy?. (flame suit on)
__________________
"Second star to the right and straight on till morning"
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10-05-2007, 07:37 PM
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#51
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Thinks s/he gets paid by the post
Join Date: Nov 2005
Location: North of Montana
Posts: 2,767
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Quote:
Originally Posted by jambo101
Cautious lot so far,any one into the "he who dies with the most toys wins"philosophy?. (flame suit on)
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Or "Who wants to be the richest huy in the graveyard?"
__________________
There are two kinds of people in the world: those who can extrapolate conclusions from insufficient data and ..
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10-05-2007, 07:38 PM
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#52
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,324
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Quote:
Originally Posted by jambo101
Cautious lot so far,any one into the "he who dies with the most toys wins"philosophy?. (flame suit on)
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Other than my ex? NO..... 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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10-05-2007, 08:49 PM
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#53
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Full time employment: Posting here.
Join Date: Oct 2007
Location: Montreal
Posts: 940
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Quote:
Originally Posted by kumquat
Or "Who wants to be the richest huy in the graveyard?"
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I'm not saying spend every dime you have but financial caution can be taken a bit too far as in the case of my father in law who ran a beef farm and for 45yrs got up at 3 am and did his barn chores then at 7 am went to work at the local telephone company for 8hrs then came home had supper and another 3hrs of barn chores,never took a vacation,never bought anything new and died with basically nothing to show for it except a million bucks in the bank. 
__________________
"Second star to the right and straight on till morning"
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10-05-2007, 09:09 PM
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#54
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Full time employment: Posting here.
Join Date: Aug 2005
Location: Far NW 'burbs of Chicago
Posts: 889
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Quote:
Originally Posted by David1961
What is the best advice relating to money/finances you have ever received?
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From an old captain, when I was a very young, single, copilot:
"Keep your first wife"
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10-06-2007, 08:16 AM
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#55
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2003
Location: Kansas City
Posts: 7,965
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Never let the boring stuff in life prevent the chance to party - or something like that.
Being a dam Yankee - took me 30 years to get the 'let the good times roll' skill mastered so I could shift gears at the drop of a hat and still LYBM, work, etc without missing a beat.
I suspect it might be a little harder to come by today.
heh heh heh - haven't seen that in Kansas City - no Jazz funerals, Second Lines, throw me something mister - other than the middle digit in traffic.
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10-06-2007, 02:31 PM
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#56
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jul 2006
Posts: 11,401
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Look out for #1 (Mom)
Get an education (Mom & Dad)
Always buy quality: it pays in the end (Mom)
Never borrow to pay for things you can't afford (Dad)
Save something every month (Mom & Dad)
Start planning for retirement NOW! (medical group orientation)
Watch the MER! (medical group orientation)
Japanese economy fundamentals risk recession (Time, 1991 or 1992)
Time to get out of dot.coms (David Dreman, 1999)
Canadian dollar may reach parity with US dollar by 2010 (Financial Post, 2005)
Property value appreciation to slow (Bank of Ireland economics, 2005)
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10-06-2007, 03:31 PM
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#57
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 33,674
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Study hard, get a degree, and get out of here (Parents - we grew up in a small pit village where everyone left school early to work - usually in the mines)
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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10-06-2007, 03:35 PM
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#58
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Recycles dryer sheets
Join Date: Jul 2006
Posts: 91
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LBYM definitely. I don't ever remember anyone telling me this, my family just had these behaviors. For example, no upgrading to larger houses. We've all lived in our houses for a long time.
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10-06-2007, 09:36 PM
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#59
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Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
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Quote:
Originally Posted by Callie
LBYM definitely. I don't ever remember anyone telling me this, my family just had these behaviors. For example, no upgrading to larger houses. We've all lived in our houses for a long time.
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Use it up,
Wear it out,
Make it do,
Do without.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
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10-07-2007, 03:43 AM
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#60
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Dryer sheet aficionado
Join Date: Oct 2007
Posts: 34
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Quote:
Originally Posted by MasterBlaster
Don't spend your money on worthless crap that won't make you happy and requires you to dedicate your life to "The Man". That worthless crap just ain't worth it for your worthwhile worthy lifestyle.
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We were in Costa Rica last month and ran into a delightful lady (65) who is doing a world tour (> 1 year) with her 20 something son. I got the feeling she isn't hurting for money since she owns rental property in Miami.
Anyway, her quote on this subject was "You don't realize you don't need any of it until you've had it all". While I'm sure most of us haven't had it all, we can probably relate to the message.
Jim.
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