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Online looney


  • Joined: Mar 2007

  • Drives: VW Beetle
So I just got off the phone with one of my best mates, who found out this week he has some rare form of bowel cancer. and he's 38 years old has just had his first child, and is starting to get his business finally running.

it's the sort of thing that puts it all in perspective. I had a Lymphoma scare a few years ago myself too.  After which I swore to myself I'd live more for today than for tomorrow.  Yet over time my innate personality has taken me back to my saving for the future ways.

I seem to find myself firmly sticking to a 10% rule where I can't bring myself to have any more than that tied up in frivolities, or personal items.  And now that I don't even have a weekend car, I'm probably more around 5%..

So I guess the question for this topic is, where do you guys draw the line between enjoying your spoils today, vs saving for the future?



Offline Paulstar


  • Joined: Jul 2008

  • Location: Sydney
I'm young so it's mostly save for tomorrow. On the one hand I might get hit by a bus tomorrow, on the other hand I might live to be an old man  :p I'd rather do without now then struggle then. My view is, if your sensible and you get struck down like your mate, at least you'll be in a decent position to fight back. Good luck to him, sounds like he has a lot to live for  :thumbsup:



Offline futurism


  • Joined: Jan 2009

  • Drives: Regretfully sold my GT3
  • Location: Adelaide
  • Name: David
People tell me I am conservative (a tight ass).

My rule of thumb is that if I had $0 income for a year, I must be able to continue to live as I do now, without making any changes.

This means not selling anything, not borrowing anything, not suspending the mortgage, not relying on various insurances paying out, eating the same food at the same places etc.

The figure is simple enough to come up with, most bank accounts list your total debits and credits, check what that figure is for a year.
The only thing I would remove is a car or house purchase if you made one.

This is my measurement for whether or not someone is living beyond their means.
Its a hugely conservative number compared to most people who live week to week even when they are on huge salaries.

As far as I am concerned, any funds available beyond that figure are play money.

I should also add, superannuation does not come into my thinking currently, I have it of course, and I would like to hope im well above the median level in my super account for someone of my age, which should put me in at least a comfortable position when I retire.

When I raise this concept with some people it makes them really angry! But this is a forum for people who can afford frivolous high cost purchases, so hopefully we all made sure we have a financial safety net in place before we made such purchases :)



Offline B2

  • Slowest Ferrari Owner

  • Joined: Apr 2008

  • Location: Melbourne
David you are not alone.  I too am extremely conservative. I don't have any debt (other than my monthly CC). I own my house, cars, business and factories.  I don't buy anything I can't pay cash for now.   I have a rolling TD of few hundred k like you just in case there is an emergency.

I guess it's a confidence thing.  Scottski has been telling me for ages to use other people's money which I should.  Maybe if I took a few more risks I to would have a yellow 458 Speciale, not a shitty old 308. Haha.



Offline Condor Man

  • Is it a Bird?? Well, sort of, Yes.... 300kph+ club
  • Plastic Surgeon

  • Joined: May 2012

  • Drives: A car
  • Location: Melbourne
David you are not alone.  I too am extremely conservative. I don't have any debt (other than my monthly CC). I own my house, cars, business and factories.  I don't buy anything I can't pay cash for now.   I have a rolling TD of few hundred k like you just in case there is an emergency.

I guess it's a confidence thing.  Scottski has been telling me for ages to use other people's money which I should.  Maybe if I took a few more risks I to would have a yellow 458 Speciale, not a shitty old 308. Haha.

This ultra conservative view is exactly what the OP may be referring to.

You need to live a little or do what I do.

Everytime I make a money from a positive investment. I keep the capital and some and then buy a other investment and start the cylcle again.

With the balance of profit, I buy toys or personal property.

That way, I still have my capital and I get to invest the principal again.

Now on the other side of the coin, I could live a lot more however this would engage my capital which would be a silly thing to do.

You should try the book "The richest man in Babylon".

It set my future up.
May the Horse be with you....



Offline Aircon

  • Master Baiter 300kph+ club
  • Who said it couldn't be done?

  • Joined: Mar 2007

  • Drives: TBA
  • Location: Melbourne, Australia
  • Name: Peter
I say spend every cent you earn and live like there's no tomorrow and wait to inherit lots of money from parents and grandparents and spend that too. It's served me well so far.



I love my car. Buy your own



Offline mondi

  • Resident Bogan
  • Moderator

  • Joined: Jul 2008

  • Location:
  • Drives:
I say spend every cent you earn and live like there's no tomorrow and wait to inherit lots of money from parents and grandparents and spend that too. It's served me well so far.


Can I have it when you get kneecapped and murdered????







Offline Aircon

  • Master Baiter 300kph+ club
  • Who said it couldn't be done?

  • Joined: Mar 2007

  • Drives: TBA
  • Location: Melbourne, Australia
  • Name: Peter

Can I have it when you get kneecapped and murdered????

It depends what order it's done in.
I love my car. Buy your own



Offline PA

  • One man comedy gala

  • Joined: Jan 2008

  • Location: www.club-carbon.com



Offline mondi

  • Resident Bogan
  • Moderator

  • Joined: Jul 2008

  • Location:
  • Drives:
I heard there is a couple of collections going on. :)


I am only looking for his stalker so I can coach him and give him so tips.  :)



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