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No Desire To Spend

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Re: No Desire To Spend

#11

Post by npsimons »

engtech wrote: post #2

I'm always surprised that more people don't bike to work, if they can do it in a reasonable amount of time and safety.

There's actually a good article on this: http://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-c...

Basically, the idea is that for every mile you live closer to work, you can afford another $15,900 worth of house.

It's also interesting when you throw in cycling to work; I used to argue with a friend about going to the gym (which I'm not fond of). I told him I could bike to work (20 minutes) and bike home (20 minutes) for a total of a 40 minute workout during my commute and save myself the extra hour (maybe more) it would cost going to the gym everyday.

Re: No Desire To Spend

#12

Post by jacobr »

Limiting your expenses also gives you more freedom. You can quit your job, take a lower paying job if it's more inspiring, or just afford to work fewer hours on your day-job.

Re: No Desire To Spend

#13

Post by johnrydell »

Here is my own piece of financial advice that I learned from a wise man 20 years ago: You have to double your income in order to improve your standard of living by 10%. Many people get a raise or a new job and they think they are now rich and can spend like crazy. You can't. Double your income and you'll honestly only see a 10% lifestyle change. Don't forget it. Keep saving. Limit spending. And give a percentage of your income back to charity.

Re: No Desire To Spend

#15

Post by cperciva »

ZanderEarth32 wrote: post #9

"It goes like this. The people who generally have their financial shit together don't usually realize when it's pay day. Those who live pay-cheque to pay-cheque always know, and will remind you as well! I once received an email from a colleague who signed off with Happy Payday!. It's a very telling test." I've got my finances setup pretty well and I still know when payday is and enjoy it very much. No, I don't need t…

I'd almost argue that if you don't know when payday is, and when money is coming in and out of your account, you don't have your financial shit together.

My impression is that the usual cause of payday unawareness is when people have enough liquid funds that "getting paid" doesn't have any significant effect. There's an argument to be made that such people probably have too much liquidity and should be more aggressive about investing their wealth, but that's certainly a better position to be in than not having enough liquidity.

Re: No Desire To Spend

#16

Post by spindritf »

engtech wrote: post #2

I'm always surprised that more people don't bike to work, if they can do it in a reasonable amount of time and safety.

It's crazy inconvenient, not particularly pleasant and offers weak health benefits[1]. If someone likes it, great but for most of us getting sweaty right before classes/work (and likely keep sweating while there), not being able to dress properly and not being able to go out afterwards is a deal breaker.

And you can't even ditch the car and all the maintenance costs and efforts that go with it because you will still need it occasionally.

[1] http://medicalxpress.com/news/2012-09-short-intense-health-l...

Re: No Desire To Spend

#17

Post by spindritf »

npsimons wrote: post #11
engtech wrote: post #2

I'm always surprised that more people don't bike to work, if they can do it in a reasonable amount of time and safety.

There's actually a good article on this: http://www.mrmoneymustache.com/2011/10/06/the-true-cost-of-c... Basically, the idea is that for every mile you live closer to work, you can afford another $15,900 worth of house. It's also interesting when you throw in cycling to work; I used to argue with a friend about going to the gym (which I'm not fond of). I told him I could bike to work (20 minutes) and bike home (20 mi…

Workout at a gym is not really comparable to a bike ride.

Re: No Desire To Spend

#18

Post by startupfounder »

cperciva wrote: post #10
engtech wrote: post #2

I'm always surprised that more people don't bike to work, if they can do it in a reasonable amount of time and safety.

There's a lot of people who are physically incapable of biking to work -- not because of distance, but because of some combination of {age, injuries, lack of fitness, difficult terrain, luggage}. It's easy for a fit 20 year old who lives on a flood plain to say that more people should cycle to work. It's not so easy for an overweight 40 year old who needs to drop her kids off at daycare, works at the top of a steep h…

The fact is most people work within biking distance of work, yes there are SOME that can't, but most just plain don't want to. In NYC is is faster to bike then any other mode of transport.

If you are in fact a overweight 40 year old who has kids and luggage needs then what about: http://www.kickstarter.com/projects/faradaybikes/faraday-por... ?

An electric bike for hills, add on a kids seat on the handle bars and on the rear wheel and then put your groceries in the front basket. Solution. Physically incapable?

This bike is on the expensive side at $9.50/day, but compare that to car, gym membership and public transportation cost and you might be breaking even.

Of course this might not work in all locations, but it is a solution for many.

Re: No Desire To Spend

#19

Post by [deleted] »

endemic wrote: post #3
engtech wrote: post #2

I'm always surprised that more people don't bike to work, if they can do it in a reasonable amount of time and safety.

Laziness. I'm able to commute by bike, on a well-maintained bike path, no less. However, more often than not, I don't do it. Why? Because since I also have a car, I'm more likely to drive when running late (which is basically ALL the time).

[deleted]

Re: No Desire To Spend

#20

Post by ZanderEarth32 »

cperciva wrote: post #15
ZanderEarth32 wrote: post #9

"It goes like this. The people who generally have their financial shit together don't usually realize when it's pay day. Those who live pay-cheque to pay-cheque always know, and will remind you as well! I once received an email from a colleague who signed off with Happy Payday!. It's a very telling test." I've got my finances setup pretty well and I still know when payday is and enjoy it very much. No, I don't need t…

I'd almost argue that if you don't know when payday is, and when money is coming in and out of your account, you don't have your financial shit together. My impression is that the usual cause of payday unawareness is when people have enough liquid funds that "getting paid" doesn't have any significant effect. There's an argument to be made that such people probably have too much liquidity and should be more aggressiv…

Well, having too much liquidity is one of the reasons I know when payday is. If you have direct deposit, do you just let your check sit in your checking account (or where ever it is desposited)? I don't have funds automatically moved to various accounts, I do it by hand because sometimes things come up and funds need to be re-appropriated. That is probably why I know when payday is, I have banking to do!
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