Do you live within your means and how?

I've been in debt many times. Right now, I"m about to HELOC my way out of my last credit card debt. But I've cashed in two 401Ks, including one last year. So I have about $5K saved for retirement right now...

I still have four more years of paying for the kids (now college), and then I'm hoping I have the discipline to really do catching up in the 401K after that...I'll have about 10 years.

I just like fun too damn much; I could live within my means easily -- but I wouldn't enjoy it, so I don't.

It's not a path I'd recommend to my kids, but that's my deal.

 

Home Equity Line of Credit.

Sorry, been spending too much time around mortgage brokers.

 

For the first time in years and years, my net worth is in positive numbers.

But again, that was at the expense of those 401Ks...

Starting in December, 2010, I hope the kids realize they're on their own. (or that I do, but I'm such a softy).

 

I'm sorry but if you have to base your purchases in life on what other people have, then you will eventually have some serious problems because you will never, ever be happy. Somebody will always have something bigger and better and to get to that level, you will put yourself in debt.

I grew up in a big family with little money and we appreciated every little thing that we got. Most of my family is doing reasonably well now, but nobody is possession-oriented. I just bought a new place which makes me happy every time I go home. I don't need another four rooms to tell me (and my friends) that I have been successful.

I wouldn't mind being rich, but I know too many people who have money and it makes them miserable. My cousins -- who I don't see very much -- won the lottery about 15 years ago. It wasn't much by today's standards -- about 5 million I think -- but it set them up for life (family of four, the daughter wins it and gives some to the brother and her parents). That family as a pretty good unit until the money came. Now they don't even talk to each other. The parents divorced. The daughter is afraid to get into a serious relationship because she thinks everybody wants her money. If that's the trade off for having money, then keep it.

 

Lots of people feel this pressure and the economy would suffer greatly if not for them, so we should be kind. Me? A fancy car would be nice, but I can count on a serious door ding within two weeks of getting any new car, so I ain't shelling out for a Lexus or anything.

Biggest purches has been a house. Spent a the top of what we could afford, but figured it was better to grow into that then want to move in five years. No boats or motorcycles or anything like that. Wish my wife would stop buying shoes and purses, though.