Quote:
Originally Posted by jamesqf
Which is something I've never understood. If you're at the economic level where you can spend $100K on a car, why get paranoid? If it gets scratched, you can just buy another :-)
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2 thoughts:
1. It seems people become increasingly protective of their stuff as they accumulate more, which is counter-intuitive on the face of it. You would think people with relatively few things would be more protective of what little they have. Perhaps when you have more to loose, protecting it becomes a greater concern?
2. Rich people live as though they were poor, and poor people live as though they are rich. In general, the truly wealthy drive relatively (in proportion to their wealth) economical cars. They didn't get rich by being frivolous with their money. Poor people (anyone living beyond their means) over-extend their finances by purchasing things that bring immediate gratification. They might be very protective of their pride and joy, since they aren't able to own many very expensive things. The opposite might also be true; their lack of concern about investing wisely also carries over to a lack of concern about protecting their investment.
I make $40k / yr. On that salary, I'm able to afford travel anywhere I wish, or to spend $20k on a whim. I have these options because I don't spend money on a whim, and travel as economically as possible. I'm price sensitive with everything. Previous generation things cost less, but they are still new to me. I get the same satisfaction owning the previous generation of something that others get owning the current model.
My coworker makes $65k / yr and has had to borrow rent money on several occasions due to unexpected expenses (car needs brakes, etc). He just financed a new Dodge Challenger R/T, which will cost over $40k over the next 6 years. He rents a small apartment, I purchased a 4 bedroom home.