4 ms·

> The only way I managed to create savings is by earning like a wealthier person but living like a less wealthy one, Isn't that natural by the definition of sa

> The only way I managed to create savings is by earning like a wealthier person but living like a less wealthy one, Isn't that natural by the definition of saving up? That you'll have less money here and now, because you are saving for later? > but there's a social cost to this course of action. Only if the people you hang around spend more money than you. There can also be social costs to earning and spending more money than people around you.

scarface74 4y ago
And only if you give a shit about what other people think.
- _djo_ 4y ago
  Nope. Also if you want to share the same experiences as your friends and colleagues, such as joining for Friday drinks, going with them on holidays, going to concerts and other events together. Of course it doesn't mean you should do all that in lieu of saving, but it's nonsense to claim there are never any social costs to living a lower or higher lifestyle than your friends.
  - scarface74 4y ago
    “Hey we are trying to save for $x. Can we meet some place cheaper?” “I won’t be able to go on $x vacation with you all. I will have to catch you next time”. I work for $BigTech remotely in a lower cost of living area. Our income is much higher than many of our friends. We purposefully choose places that are affordable. I was just planning a trip with my cousins (we grew up together like siblings) and everyone without small kids and responsibilities was talking about going to all inclusive in Mexico for a week. My being the only person reading the room - knowing that one of my cousins had twins in high school and knowing her situation - I suggested a much cheaper option. On the other hand, my wife and I have had to say no to vacations we would typically go on with friends because they just weren’t in our budget because of the combination of expenses we are having transition to our digital nomad lifestyle and the drop in the value of my unvested RSUs in the River company.
    - _djo_ 4y ago
      You're missing the point. I'm not saying it's not possible, I'm saying there is a social cost and friction involved, which makes it a not so easy choice especially for younger people just starting their careers and needing to form those social networks. The things you can do as a married couple with an established social circle are quite different.
      - scarface74 4y ago
        That’s an even easier choice to make. I’m very cognizant of my fixed expenses. But if I know my company is going through a rough period - and let’s be honest Twitter has never been flying high - I’m going to cut my variable expenses down so I can have an oh shit fund. This isn’t my just speaking from the experience of a 48 year old who has been in the industry long enough to see the dot com bust, the financial crisis and Covid. I immediately focused on savings the day I graduated from college.

scarface74 4y ago

And only if you give a shit about what other people think.

_djo_ 4y ago
Nope. Also if you want to share the same experiences as your friends and colleagues, such as joining for Friday drinks, going with them on holidays, going to concerts and other events together. Of course it doesn't mean you should do all that in lieu of saving, but it's nonsense to claim there are never any social costs to living a lower or higher lifestyle than your friends.
- scarface74 4y ago
  “Hey we are trying to save for $x. Can we meet some place cheaper?” “I won’t be able to go on $x vacation with you all. I will have to catch you next time”. I work for $BigTech remotely in a lower cost of living area. Our income is much higher than many of our friends. We purposefully choose places that are affordable. I was just planning a trip with my cousins (we grew up together like siblings) and everyone without small kids and responsibilities was talking about going to all inclusive in Mexico for a week. My being the only person reading the room - knowing that one of my cousins had twins in high school and knowing her situation - I suggested a much cheaper option. On the other hand, my wife and I have had to say no to vacations we would typically go on with friends because they just weren’t in our budget because of the combination of expenses we are having transition to our digital nomad lifestyle and the drop in the value of my unvested RSUs in the River company.
  - _djo_ 4y ago
    You're missing the point. I'm not saying it's not possible, I'm saying there is a social cost and friction involved, which makes it a not so easy choice especially for younger people just starting their careers and needing to form those social networks. The things you can do as a married couple with an established social circle are quite different.
    - scarface74 4y ago
      That’s an even easier choice to make. I’m very cognizant of my fixed expenses. But if I know my company is going through a rough period - and let’s be honest Twitter has never been flying high - I’m going to cut my variable expenses down so I can have an oh shit fund. This isn’t my just speaking from the experience of a 48 year old who has been in the industry long enough to see the dot com bust, the financial crisis and Covid. I immediately focused on savings the day I graduated from college.