Are you or family members SPENDTHRIFTS?

  • Posted by a hidden member.
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    Apr 18, 2013 2:58 PM GMT
    Found out this week that a family member, who barely has two pennies to rub together, purchased a laptop from a rent-to-own place at $140 a month for 15 months. I purchased a laptop on Craigslist for $75 and it works perfectly. I'm just floored by her lack of restraint. When she found out I had an Archos tablet (which serves all my needs) she bought one, then a Kindle, then a Nook, then a Kindle Fire. All without selling the others. SO wasteful.

    Do you know anyone like that? Wasteful spenders?
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    Apr 18, 2013 3:19 PM GMT
    I went to a junk shop and put my computer together , Spent less than $35 for all . 4gb ram/1tb of hard drive , a noisy old tower 2.4 gh
  • AMoonHawk

    Posts: 11406

    Apr 18, 2013 3:23 PM GMT
    The Kindle and Nook and Kindle Fire were definitely wasteful. But as you seem to state she doesn't have much money to begin with, so in her mind she doesn't sell them because she paid more for them than she can get by selling them, so she would rather hold on to her investment and get all the use she possibly can out of them. I'm surprise she didn't pass them on to another family member though. As for the rent-to-own she probably saw it as her only option to get a new computer because obviously she doesn't have a credit card or has bad credit. She needs someone to help guide her ... you might try to kindly offer your advice.
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    Apr 18, 2013 3:59 PM GMT
    This drives me nuts. Sometimes I think I'm cheap but I'm the first to pick up the tab for a friend or family when we're out. I think I'm more conscientious about purchasing 'stuff' than spending on others. I know people who have teetered on bankruptcy and yet will only buy the most expensive clothes. I don't get it. I'll buy nice things but not until I've saved for them and then they're few and far between.

    I agree, wasteful spending. I'm much more like you and if I wasn't, I would never have been able to buy a condo in SF!
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    Apr 18, 2013 4:16 PM GMT
    eb925guy saidThis drives me nuts. Sometimes I think I'm cheap but I'm the first to pick up the tab for a friend or family when we're out. I think I'm more conscientious about purchasing 'stuff' than spending on others. I know people who have teetered on bankruptcy and yet will only buy the most expensive clothes. I don't get it. I'll buy nice things but not until I've saved for them and then they're few and far between.

    I agree, wasteful spending. I'm much more like you and if I wasn't, I would never have been able to buy a condo in SF!


    We could be twin when it comes to financial matters ... i am not making 3 figures a year , but i own a flat in Australia as well as one in the U.S , and i can say proudly that everything i have is paid for !! . I am cheap when it comes to buy something for myself , but enjoy to pick up the tab while out with family or friends ...
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    Apr 18, 2013 8:14 PM GMT
    neffa saidWe could be twin when it comes to financial matters ... ...

    Yep, but only on finance. Looking at your adult pic, I think I've failed my twin! LOL Nice job on the two flats though! Managing your finances is so valuable, but you have to start young by NOT wasting it all on nonsense.
  • Posted by a hidden member.
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    Apr 24, 2013 5:50 PM GMT
    neffa said
    eb925guy saidThis drives me nuts. Sometimes I think I'm cheap but I'm the first to pick up the tab for a friend or family when we're out. I think I'm more conscientious about purchasing 'stuff' than spending on others. I know people who have teetered on bankruptcy and yet will only buy the most expensive clothes. I don't get it. I'll buy nice things but not until I've saved for them and then they're few and far between.

    I agree, wasteful spending. I'm much more like you and if I wasn't, I would never have been able to buy a condo in SF!


    We could be twin when it comes to financial matters ... i am not making 3 figures a year , but i own a flat in Australia as well as one in the U.S , and i can say proudly that everything i have is paid for !! . I am cheap when it comes to buy something for myself , but enjoy to pick up the tab while out with family or friends ...
    Three or five figures? If three, I'm REALLY impressed.
  • BAHBAA

    Posts: 122

    Apr 24, 2013 6:41 PM GMT
    This is me in a way...as my BF puts it I have a very "self indulgent" lifestyle. I live very well and always buy the best I can afford. I could definitely own my place by now and have a nice nest egg if I used my money differently.

    But all aside the way I look at it is this... my name is on that paycheck and its up to me to determine how to spend it.

  • Posted by a hidden member.
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    Apr 24, 2013 6:48 PM GMT
    i'll admit. there's times where i'll just get that urge to toss my money away foolishly for something that i want. it's not a habit.

    but yeah, i have someone in my family who is a compulsive spender to the point where they're broke and rely on other people to pay the bills that are in their name. for as long as i've known them, they don't seem to think they have a problem and even go as far as to blame the people around them for why they have no money. yet the moment they get their hands on some cash, they're ready to toss their money on a damn lottery ticket or some junk food. it's depressing. i've NEVER seen them buy clothes for themselves or groceries for the house. they sure know to spend money on whatever they want though and they're like in their 60s. their wife is taking care of them like she is his mother. everything they have on from their underwear to their damn dress shirt has been brought by someone else for them. they'll even wear and steal their sons clothes. no sense of ownership or self worth.
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    Apr 24, 2013 7:33 PM GMT
    eb925guy saidThis drives me nuts. Sometimes I think I'm cheap but I'm the first to pick up the tab for a friend or family when we're out. I think I'm more conscientious about purchasing 'stuff' than spending on others. I know people who have teetered on bankruptcy and yet will only buy the most expensive clothes. I don't get it. I'll buy nice things but not until I've saved for them and then they're few and far between.

    I agree, wasteful spending. I'm much more like you and if I wasn't, I would never have been able to buy a condo in SF!


    You have given a typical scenario as to why so many people in our country are in serious financial debt. When I was employed in the banking world, I dealt with people who had so much credit card debt, they absolutely did not have any clue as to what cards they were carrying nor the balance of each card. How does anyone get themselves into that kind of mess is beyond me. My bf and I are going on a holiday next month and I made sure beforehand, that it is something we can afford.
  • kevmoran

    Posts: 1543

    Apr 24, 2013 7:45 PM GMT
    tumblr_mi4u2jcwts1rl2z7po2_r1_500.gif

    *guilty*

    I don't make big, uneducated purchases. But sometimes I forget that I'm 19 and poor and I go around spending like someone twice my age with five times my salary. So my little trips to HomeGoods and Anthropologie sometimes get me into trouble... Luckily everyone else in my family is a cheapskate so they're teaching me their ways.

    But I ever have a credit card, prepare to see me homeless in a matter of months.