[ravieira]

My two cents are:

1. Do not buy an expensive car; 2. Do not buy a car unless really necessary (of course not feasible/practical in many parts/cities of the world); 3. Avoid all kinds of subscriptions you can. Anything that consistently affects your income; 4. If you're making good income, don't act like it's going to be like this for ever; 5. Try to stay ahead in your career so that you're eligible for the upper end salaries;

[astura]

It's perfectly okay to buy an expensive car if you can afford it and it brings you joy.

People have trouble with the "can afford it" part, anything can look affordable if it's broken down into enough monthly payments. But one must look at the bigger picture and also work towards not having to borrow money for the rest of your life.

The problem I have with most personal finance advice is it usually comes down to simply moralizing. The whole point of personal finance is it should be personal.

[pm90]

Usually people tend to buy expensive cars that they can't afford. And expensive cars give most people joy. There is that feeling of owning a shiny new thing that other people will see you in.

I kinda agree with you that personal finance shouldn't be about moralizing, but only in cases where that moralizing actually doesn't really affect you at all. The bullshit stuff about not buying coffee and instead saving up to thousands of dollars or whatever.

An expensive car (usually just a car in general) ends up being one of the most significant financial investment in the large majority of Americans' lifetime. So its wise to moralize about a decision which has the possibility of having such a huge impact.

The only time I would personally consider buying a fancy car is that if I got really really lucky and made over $10 million dollars somehow, at which point a $100k car is not insignificant, but not a sizeable part of my wealth portfolio. Until then I have my trusty Civic to take me around : ).

[astura]

When we moralize about how "expensive car = bad" (no matter the context) we take the "personal" out of "personal finance."

Some people are gearheads, just because you aren't doesn't mean you should moralize the preference of others.

[pm90]

Are most people who purchase expensive cars gearheads? I would wager they're not. In which case I have every right to moralize about their poor choices.

The existence of outliers doesn't prove a rule wrong.

[SirLJ]

C’mon, you live only once...

[pm90]

Exactly. You have only one life to enjoy everything except buying that fancy car that will cost you a ton of time, money and worry. Is that how you want to spend your one lifetime? Centered on Vehicles? Really?

[SirLJ]

The vehicles are just an example, even though I actually have 2 and will upgrade one or both soon... also have a big house with all the extras and I am enjoying every day in the large heated pool... The point is, live for today, because you might not be here tomorrow... don't be miserable... if you need more money, just make some more... Frugality is the mother of all misery in my book...

[astura]

Frugality gets a bad rap because most people, like the person you're replying to, advocate depriving themselves of as much as possible for the sake of not spending money - like dying with the highest score is the goal. Frugality, to me at least, should instead be working on how your money can make you the most secure and the most happy, both now and in the future.

[pm90]

> Frugality gets a bad rap because most people, like the person you're replying to, advocate depriving themselves of as much as possible for the sake of not spending money - like dying with the highest score is the goal.

That is such a flagrant micharacterization of what I'm trying to say. Don't put words in my mouth. I was asking an honest question about whether the things you spend money on really give you happiness. If they do, awesome. If not, you blew a hole through your finances leading to even more unhappiness.

[SirLJ]

Just to make myself clear, I don't like money, but I do like to spend them very much, if you never tried, please go ahead and try 12+ years old isles scotch, cohiba maduro, kobe stake... and don't get me started on vacations, 5 star hotels, new car smell, concerts, art...

There are no memories from money in the bank...