Truth at last! I read through all the posts and I can't believe how the OP has been flamed about this. Obviously most people aren't reading through the thread because they continue to flame him about the "poor" statement when he already admitted that it was a poor choice of words. Get over it!Originally posted by: Skoorb
Good question, but I'm basically tired of finding the answer to it, so I just lump it all into the general malaise and stupidity that most of the population embraces. As time goes on I realize that my superior approach to life is just not something the average brain-dead clown can appreciate, so while I'm using standards and intelligence applied to my life, the average joe is using a dumbed down view of the world with a weakened mental capacity applied to his. The result is anything from obesity to habitually making the same wrong choice in relationships to incurring too much debt, etc.
Now, let's get to the heart of the matter. I agree with Skoorb that most of these responses are here because the posters are the ones that don't understand money or they are jealous that this guy and his family actually save up for items and don't have to shoulder the stress of bad debt. Now, I do believe that paying for a house in cash is over the top as this is good debt in that you're borrowing on something that gains value. But everything else, except maybe cars, should be paid in cash from a fiscally responsible point of view. Face it, consumerism is the order of the day in the US and bankruptcies are at an all-time high. People only think about affording the monthly payments on things and then live paycheck to paycheck until they lose their job and have nothing saved up. But gluttonous fools will be in for a rude awakening sooner or later.
His parents are frugal and there's nothing wrong with that. If you read "The Millionaire Next Door" you will learn that the majority of the rich in America live simply. You wouldn't know they were rich from the houses they live in or the cars they drive. They save and what you have in the bank is what determines if you're rich or not.