View Full Version : Living Below Your Means

5th May 2004, 23:48
Seems like every cojo I fly with these days has a bigger house than me, owns two houses, owns two houses plus a holiday home.....etc etc etc.

I have one house. Its small. I love it. Its in a fantastic location with a sea view to die for.

I could sell it tomorrow and buy a big f***off house for the same money next to one of my cojo's, out in the boonies. But I know I'd regret it because a property like this doesn't come up every day.

So the mortgage is paid off, and I'm consequently living way below my means. I feel guilty! Should I be selling and taking on a massive mortgage in order to trade up in the same area, or getting into the investment market at the top of the boom, just when interest rates are bottoming out and theres a slump in the rental market?

What to do?

Not complaining mind you...just looking for input.

6th May 2004, 00:31
Mrs J and I have discussed this often. Several people she used to work with had huge houses, kick ass cars and were up to their eye balls in debt. Some of them were on an above average salary with quaterley bonuses being paid if they hit targets, and were taking their pay slips with their bonus payments to their lending institutions and basig their borrowings and repayments on that. Folly indeed, as the industry slowed and they weren't hitting their targets........whoops, no bonus for this quarter.

6th May 2004, 00:51
Keep the house ya got if ya like it, and lie about it. :D

6th May 2004, 00:55
You can always get a sticker for the back of your car........

"My other car is a piece of sh*t as well!"

6th May 2004, 01:18
If you're happy where you are then why change? While they are all indulging their insecurities and lack of self-confidence, you can be making real financial progress. Real as opposed to perceived. If you are living below your means, use the excess to purchase an investment property such as an apartment to rent out or even a small factory unit. Then, while everyone else is wondering how to pay their next bill, you are happily working your way towards complete financial independence.

If you have an ocean view, mate ... that's worth everything and I don't mean money. Stay put and enjoy it.

Northern Chique
6th May 2004, 01:27
IDunno...... Can I borrow you? Ive got some folks here who find it impossible to live to their means let alone below them!!!! Gotta show em that it is possible and obviously no fairytale....

henry crun
6th May 2004, 01:34
I imagine he has a superb ocean view BlueDiamond, cannot be much else when he is located in the mid atlantic. ;)

Stupendous Man
6th May 2004, 01:39
You've paid the mortgage off
I take it you are maintaining your lifestyle.

Therefore - status quo - everyone (inc bank manager happy)
- some extra cash - pays for the one off 42" Plasma Screen
anually you have more than the Joneses and therefore more / nicer /morer nicer holidays than the Joneses.

If you like your house / neighbourhood / neighbours - then relax in the fact than the debts are all paid. If you really don't like all of the above - then cash in - up sticks and good luck.

6th May 2004, 03:35
What to do?
Seems to me you have already done it. Chill. enjoy life... be your own person, and don't feel you have to justify yourself to anyone.

6th May 2004, 04:35
just looking for input

Big houses= more rooms to keep clean,whopper amount of energy bills to keep it warm even though you won't use 2/3 of space.

We bought our farm for the grounds and the acreage but it came with a huge stone house. I would love to dynamite the house and build a manageable size warmer cottage any day. :{

6th May 2004, 05:56
ooh don't move stay put, the view sounds great!
Your house should support you, not you it. If you have somewhere pleasant to go home to and escape from the world then why move just to keep up with the Jones's?
Like you nearly everyone I know with ginormous houses and very flash cars are in debt up to thier eyeballs but still seem obsessed with 'upgrading' whatever that is supposed to mean.
Have what you need and enjoy peace of mind.
Incidentally the notion 'The house supports me, not me it' can also be used as a defence when explaining a laidback attitude to housework.

6th May 2004, 06:13
I have one house. Its small. I love it.

Seems you answered your own question before you asked it.
Why leave something you are happy with.
I lived in a similar position once. No mortgage in good old Ireland, close to the sea, golf, Guinness. Would have stayed there if I could have.
My Father never borrowed a penny in his life. I try not to but its difficult these days, so I now have the inevitable mortgage. Everything else is paid for. If I can't pay for it I don't buy it.
Unfortunately "the Joneses" don't see that. But b0llocks to them.
Peace of mind is worth an awful lot of money.
Stay put, live below your means, enjoy life.


6th May 2004, 06:37
When you are sitting in traffic, doing the same 3 mph as the 40 grand high status car in the next lane, comfort yourself that you could be driving it too, just by signing a piece of paper, and paying three months up front.

Stay the way you are - it's a low stress way to live.

6th May 2004, 06:40
But it does beg the question...What are you doing with your spare capital? If it is rotting in a bank/building society then you are getting poorer relative to all those people with big houses/second homes. Unfortunately, for the last 15 yrs it would appear the only way to have made real money is to have had invested in property.

6th May 2004, 06:54
As life rolls forward, the same house changes size.

Kids and animals and the piles of stuff that follow one do make a house seem smaller, but a few more years can clear those things out so as to make the same house quite agreeably large enough .

Sounds like instinct is guiding you well.

6th May 2004, 07:16
Idunno, not qualified to offer advice on what to do with your extra money, so won't. :)
But like fishtits says on the 'tramps' thread, most of your cojos are probably only 3 pay checks away from the streets. You're not, and isn't that something to be happy with?

Here at 40Towers we've had the same discussion with ourselves over the years. We decided a few years back that yes we wanted and could afford a bigger house, so we built it. Lots of DIY, so we could build something far nicer than if we had employed prefessional builders for each and every job, without saddling ourselves with a crippling debt. The work involved almost killed us, but it's been worth it. :ok:

Now society, our circle of aquintances, the media; all seem to be pushing for us to max ourselves out money-wise. I am forcefully resisting. Way I see it, we don't need a holiday house, we don't need fancy cars, there's a hell of a lot of stuff we really do not need.
Now and then, when our kids moan about not getting more money, or about us not being able to afford what some of their friends can afford, I take the time to explain.
If their Dad worked more hours and became the boss of more hotels (like the owners keep pushing him to & and I keep telling him not to) we would have more money. Dad would be home a lot less, and when he would be home, he would be tired and stressed.
If Mum would work full time instead of 50%, I would have made Long Haul Purser 15 years ago and earned more than double what I do now. More money but never home. When home, jetlagged.
We'd be much richer, and I believe our life would be a lot poorer .

Trying to make the kids understand why we have chosen a life style which gives us enough time is difficult, and they'll maybe only understand when they get older themselves.
Time is the commodity we have bought ourselves by not having to work to the max to afford posessions we would like to have but don't really need.

Time to spend with the kids and with eachother. Time to drive them about when they need it, time to talk & fight together, time to eat leisurely meals together also on weekdays, time to just hang around and do nothing at all. Time to sit on my @rse and PPRuNe if that's what I enjoy, 'cause I'm not a contestant in the rat race and can do as I like. ;)

I work hard at making my family understand that having fun is much more rewarding than having 'stuff'.

When I get really old I will find out if it was the right choice.

6th May 2004, 07:27
Flaps... It was the right choice... and the right stuff you have.

Idunno... Don't worry yourself... you can't help loving the place so go with it. ****** your "friends"... you do what you want to do with YOUR money.

I have been in a similar situation... and am still doing what you are, curiously, pondering.


Windy Militant
6th May 2004, 09:13
Buy an Aeroplane that'll soon have you living beyond your means!:ok:

tony draper
6th May 2004, 09:33
Is not our whole economy based on living beyond our means? and the acquisition of consumer items we dont really need.
Mind you saying that Draper towers is stuffed to the roof with consumer items.
One does remember in the days before hire purchase came in,indeed in the days when most folks did not even have a bank account let alone a line of credit,people had to save up the cash when they wanted to buy anything, was it better then? was it f-----------k.

Point Seven
6th May 2004, 09:51
Remember: you ARE NOT the car you own, you ARE NOT the number of bedrooms your house has.

As it happens it sounds like you've got it down pretty well. Enjoy living it as you see it, not some dumb fuc$er elses.


6th May 2004, 16:28
Tis my heartfelt wish to continue living below my means into retirement. My current 15 year old extremely ugly and unfashionable sedan which I have owned since new will last another four years till that day and still have only 220,000 km on the clock. I will probably shout myself another extremely unfashionable and reliable small sedan on retirement date, which will be the last car I ever buy. (It will probably be a demonstrator model too).

The house I have lived in for 20 years will continue to be my place of residence, but with only one child still left at home at that stage, we may well make a few cosmetic improvements, until now moved down the priority list by awkward things like dancing lessons, tennis, netball and swimming costs, drama and music lessons, (ten instruments scattered around the house)... you know, the usual stuff.

I will never own nor wish to own a 4WD, SUV, call it what you like. My kids have never shown any inclination to be on Big Brother or Pop Idol, and they will continue to come home happily during holiday periods, where they will be showered with love as they always have.

They will take their place in society as normal people, with their own questions, their own doubts and uncertainties. They will shake their heads as I do at some of the madness they see around them, and they will probably decide to join in protesting against some of that madness because they are frightened or outraged by it.

Whatever their stance, it will be arrived at by growing up with parents who loved them, rather than those who thought affection could be purchased.

It's my humble opinion that the popularly held belief that the 80's were the "Greed is Good" decade is a convenient smokescreen. The 4WD generation of the 90's (without wishing to over-generalise) took the bigger is better theme to a level unheard of in the 80's, and the children of that generation are the products of it.

Massive generalisations all.


Or is it too hard?

tony draper
6th May 2004, 16:36
Wise words Mr B. :ok:

6th May 2004, 17:07
......and it weren't even on a tuesday.... ;)

Kalium Chloride
6th May 2004, 20:21
Be thankful for what you have - especially if you are happy with it.

I'd give a lot right now to be able to afford a house (and I'm in my mid-30s with a few bob stashed) and I'm sick to the back teeth of property bores going on about the increasing value of their bricks-and-mortar.

Luckily I have a very patient wife, who understands when I keep having to tell her that we can't afford our first house just yet (nothing flash - just a place to call our own). But I'll be damned if I'm going to join the rest of the lemmings chasing houses which are already 30% overvalued.

One day people will wake up and realise that a sky-high housing market doesn't survive without first-time buyers...

Boss Raptor
7th May 2004, 07:02
Best advice I ever had at the start of my flying career 'never live outside an F/O's salary'...meaning always expect the unexpected in aviation and never over stretch yourself...

I have seen too many people caught in the big house, big car trap...and then unemployment...

Myself - small low maintenance house, mortgage paid, easy to keep, easy to sell if necessary...have a good condition Peugeot 205 GTI cost 800 to run around in (classic car) and another sports car which i own with a friend and we share...live on 200 a month food/booze/fun money and have a good quality of life...recently spent surplus cash on 2 other homes abroad which were peanuts in comparison to UK prices...(my mum) and I commute between the UK and the other 2 houses...better lifestyle without the stress I think :ok:

7th May 2004, 07:33
Stay where you are

Sea view priceless

Worldy goods and chattels are just a pain, who wants junk (albeit posh junk) in their lives.

As long as the car gets you where you want to go, who needs a porsche?

Your financially independent - stay that way - no worries

Enjoy :)