@RohoMech: Yes, peers are often a bad influence. Which is why I encourage people not to make comparisons with their money.

@Kyle J.: Thanks for the thoughtful and brutally honest response. It is amazing to see coworkers blow money (I knew someone with credit card debt, even though the job paid well).

I like how you quoted how the family said “the trade-off is worth it.” We often think in a false dichotomy–like kids having horse or no horse, which is better? I mean, we really want to know–which is better: kids having a horse versus the million better things the money could be used for. The kids don’t understand that current debt might hurt their chances of parent’s helping them get a car or enjoy things later in life. It’s the parent’s job, and they should know better.

In another segment of my company, two guys who started around the same time of me have made
rather large purchases, one of them has bought a new car, 1080p 52″ LCD, motorcycle, and is currently contemplating a MacBook Pro for his hobby as a musician. The other has purchased far less, but is certainly rather loose about he spends his money.

Admittedly, I am much more willing to pick up lunch for my friends and employees since I receive a much more stable gross paycheck, but the largest single purchase I’ve made since employment has been an iPod video this summer when I was in training for 2 months and wanted something to entertain myself on the two hour bus ride every week day.

I am of the opinion that in the end, each individual person has either justified their purchase to themselves as necessary and would not change a thing unless faced with possible repercussions for a rogue payment. Maybe I too that Boy Scout law thing about Thrifty thing too far?

Anyway as my final comment, fuck that family that is living check to check on 150k a year. No one put a gun to their head and said “SPEND!”

From the article: “The trade-off is worth it, says Brian, because “the kids so love having a horse.”

…I lack the drive to devote any more time to making my response a PG rating, so instead I’m done here.

I’d venture to guess that peers are a big influence on spending habits. It’d be really hard to work at some finance company, see everyone else around me spending tons of money on things like club memberships, clothing, cars etc but resist.

As a Computer Science graduate student, I was surrounded by hundreds of other grad students who had laptops. I’d never wanted one till that point, and even though I disliked them strongly, I did think about getting one…