Resolved Question

Why am I the only person I know that's financially successful?

I look around me and see everyone racked with debts, struggling to get by and constantly borrowing money or trying to take out loans just to pay off the interest repayments on other ones! I know of people who live like kings on payday but like paupers for the rest of the month. These people splash out on things that don't really matter and only placate themselves, probably to try and deal with the stress. They compete with each other on everything, one got a new sofa another gets a bigger one, that person gets a new tv the other person has to get a much bigger one.

I however have always lived well within my means, instead of fancy cars and big houses I live minimally with a small car and small home but have a beautiful home just the same. Buy only what I need, carry cash and not credit cards (I don't have any) am very frugal, have no debts, earn a fantastic salary and save 80% of it each month and have already saved more than most could even guess. People ask my how I'm so worry free and can go away for a month on holiday every year... I just tell them I work for financial freedom not to be tied to a job for years to come paying off pointless debts.

Best Answer - Chosen by Asker

Because not everyone has the opportunity to get a fantastic salary like you must have to be able to afford to save 80% of your wages a month. For a person to pay there bills (household, rent/mortgage, car, food etc) you would need in reality at least £1000 a month to live on and be comfortable and not need to dip in to your savings. So that means if you only spend 20% of your wage a month to live you earn about £5,000 a month? Which is about £60,000 a year. The average wage in the UK for a full time worker is £21,000 a year. See the giant difference in your wages compared to the average? This is why you seem to be the only one financially secure, you have 3x the average UK wage (presuming your telling the truth of course - someone with a £60,000 salary would already know there successful and wouldn't require to tell a bunch of strangers how well off they are. Just my opinion though) So there's your answer, yes some people do overspend but at the end of the day you might have sh*t loads of savings but you can't take them with you when you die. People like to enjoy life, maybe some take that to far by racking up debts but you only live once and if buying a bigger sofa gives them enjoyment who are you to say that's not there right way to live. Having savings is great but at point will you look back and realise that you were too frugal and missed the opportunities in life to splurge on something completely useless but gave you enjoyment.

There's two sides of extreme, one side is racking up debts way beyond being able to pay them back (having a credit card or taking out a loan doesn't make a person irresponsible with there money) and then theres worrying too much about being finacially stable to the point that you forget to enjoy the money you earned. What are you going to spend these savings on?? New house? according to you the house you have is adequate so buying a new one would be a waste. New car? waste of money if your happy with the one you have. An island off the coast new zealand? You'll be dead before you spend anything and it would have been a complete waste, your kids will thankyou for it when there blowing it on the new boyfriend .

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Other Answers (6)

• Does having all this money really make you happy though?
  Reading between the lines ,I guess you are living alone and you have no dependents.
  Have you ever considered donating a small % of your disposable income to charity? And in doing so enriching the lives of others less fortunate.
• UK: You asked the question then answered it. What people are doing around and about makes their world go round. It's not your kind of world but theirs. It is good to be careful and it gets you what you want.
  Enjoy. One thing I will mention is some people know advertising their 'wealth' attracts the wrong kinds. Stay free.
• Your conceited and too proud of yourself. Don't be so cocky, a lot of things could happen to you. Try being humble and thankful and know it could all be taken away from you tomorrow!
• those whom are successful don't shout about it or have to show it
• You sound like an idiot, so you must be lucky...
• are you asking for ATTA BOYS?