Comments on: Making Lots of Money? It’s Time To Shut Your Trap

By: Teri

Teri — Sat, 26 Sep 2009 05:14:22 +0000

I enjoy buying nice things, and sometimes they are expensive, not to show off but because they are what I want. It has nothing to do with showing off. I feel that I have worked hard to be in the position I am in and that I should get to spend my money the way I want. I have had people make comments to me both on things that I already have and at the time of purchase. Everyone is entitled to their own opinion. I also have people that want to know how when so many people are struggling I am doing so well and that opens the door for me to show them some options open to them. I do agree with the earlier comment that it is more about how you say something that determines whether or not you are bragging. If people have a right to complain about how bad things are I should have the same right to point out that things aren’t like that for everyone. I think so many people jump on the band wagon of blaming their circumstances on the economy but the truth of it is there is always money to be made, you just need to go out and find it. Yes the economy plays a part, but people get so focused on thinking that until the economy turns around they are stuck, that they seem to get blinders on and throw up their hands. I love reading about people who are currently thriving and also find out their backgrounds and their starting circumstances because to me they are not bragging, they are leading by example and showing people that regardless of the economy, you can change your financial situation.

Your blog is awesome, keep it coming!

By: Cathy

Cathy — Sun, 01 Mar 2009 23:33:12 +0000

I've been saving money a long time to buy a new car. I'm shopping around for the best deal. If I find the right deal on what I want, I'm going to buy it. I didn't buy a car or house a year ago because they were more than I wanted to pay. I tried to deal with car dealers, and they wouldn't deal because they had too much money pouring in. Now it's dried up, and I'm finding all kinds of deals. I'm buying something sensible, not extravagant.

By: Matt_SF

Matt_SF — Sun, 01 Feb 2009 17:32:54 +0000

I must agree with MBL and Rebecca here. Sure, there can be some harm with gloating about how well you're doing, but I think it's all in how you say it. If you state it factually, and not a "Ha Ha You Suck – I Rule" tone of voice, you're adding some value to your blog.

In addition, many people who are struggling might actually look forward to seeing how well some people are doing so they can emulate those who have found success. After all, it's easier to copy an effective plan than create one on your own which they might have failed to do.

By: DebtKid

DebtKid — Fri, 30 Jan 2009 19:11:45 +0000

Thanks Rebecca. You are probably right about taking other people's financial decisions personally. I had never thought of that, but I think you have a point. I'll have to think about this a bit…

By: Rebecca

Rebecca — Fri, 30 Jan 2009 19:02:03 +0000

DK, sometimes when I read your posts (and especially this one) I am left with the impression that you take other people's financial decisions way too personally. It is human nature to agree or disagree with another person's decisions, but you tend to go a little overboard, I think. Let other people make their mistakes (or successes) and you worry about you.

Keep up the good work with your business and debt repayment. We are all so proud of you!

By: MBL

MBL — Fri, 30 Jan 2009 15:38:02 +0000

It's not the time to be angry at those who actually have money and go out and spend it. I'm no economist, but I understand that we need people to spend money for our economy to work; so it's important that we not ostracize those who have money if they want to spend it.

My parents are planning on buying a new car in the next 2-3 weeks. They have the money, and the car dealership employees and the businesses that said employees patronize will be grateful for the business my parents provide.

I don't feel this way in the case of using money one doesn't have for purchases or someone elses money for purchases, BTW.

I'll miss seeing your spreadsheets. I looked at them to see how you were doing on your debt payoff, and I never saw them as gloating over the success of your business.

By: Tom

Tom — Fri, 30 Jan 2009 05:53:03 +0000

I probably wouldn't buy a new car, because it's a waste of money.
But, if I were rich and had the money to burn, I'd have no problem buying a fancy new car … I'd probably buy something conservative, though, and not too flashy.

By: DebtKid

DebtKid — Thu, 29 Jan 2009 06:09:12 +0000

Thanks everyone for the comments here….good stuff.

I agree about not throwing money around. For me this means paying down debts, but if I was debt free I would be trying to really sock away as much cash as possible right now.

By: DebtKid

DebtKid — Thu, 29 Jan 2009 06:07:25 +0000

Good point about how you say it.

By: 8020Financial

8020Financial — Thu, 29 Jan 2009 05:14:00 +0000

I do think its a shame you won't post spreadsheets of your financial position any more. I've enjoyed watching the $300K or so shrink, often at quite a rapid pace, its very encouraging. I don't think you should feel guilty about the success of your business (didn't you make $15K last month? Well done.) But like Benjamin I respect your privacy.

My own personal finance / options trading blog does have a post about my current financial position, which is quite healthy, but I will probably delete it if I stop being anonymous.

As for buying a fancy car during these historic times, not only does it make you a jerk, it also shows you are dumb. Now is not the time to be throwing money around, even if you are lucky enough to currently have lots of it coming in. As bad as things are, they can get worse.