Things that are worth spending lots of money on, and vice versa

[needinit]

We are going down the 'simple is best path' currently - we are clearing t lots of things we have used in a long time (coffee table books, for example that are in a box in a spare room), clothing, furniture etc. We are replacing some items with fewer but better quality which will last longer.

Currently digitizing all our movies and photos and getting rid of the hard copy (with a huge back up drive as well!).

Cooking a lot ore food from scratch - don''t know the last time I ate a processed meal.

My biggest bug is being tied into technology and cell phones - expensive but necessary for my business (at east a write-off, but still twice the cost I believe I should be paying)

 

[spaman]

When your lying on your deathbed and you wished you spent a weekend in Madagascar, or had those three great looking girls in Costa Rica, or headed into turn 2 at Mosport in a Porsche GT3RS with your hair on fire, then get back to me. I'm not saying be reckless and spend until you drop. What I am saying is you go around one time, I want to experience everything this awful world has to offer and then some. My two cents

 

[anon1]

headed into turn 2 at Mosport in a Porsche GT3RS with your hair on fire,

Been there, done that!



Well, not at Mosport.




And not in a GT3RS.

 

[SkyRider]

You never have too much time or money. sometimes money can buy you time. Here is a story of a woman who was allowed to die because she couldn't afford an expensive drug not covered by OHIP.

http://www.ctvnews.ca/health/ottawa-family-blames-red-tape-for-death-of-hep-c-patient-1.2096531

 

[Marla]

Well here in my country there is something which occurs within higher end establishments. It is called "Tipping Out". There is a movement to stop it but it exists and is a huge issue for those who don't "feel" they should tip $20 for reasonably good service.

http://howtobeagoodserver.com/tipping-out-the-debate/


The interesting thing is I often seem to have come across people who don't see the value in tipping. Don't worry though! When I am at the table I watch every other person and correct the tip. Thank you to all those short tippers out there whom I have had the displeasure of dining with. From my point of view it is the same as not paying the taxes on the bill (had that happen a time or two also... cheap bastards!).

I waitressed from the time i was 16 and paid most of my university education through waitressing and bartending. For those of you who think it is easy, think again. A waitress has to put up with the foibles of a finicky chef, wait on a station that fills up all at once and pay for the dinners of those who skip out without paying. She has to be versant on people's allergies, all of the various menu options and run, run and run more to get the orders out quickly and hot. She has to put up with people's rudeness, their complaints and takes the flack for a poor chef.
If the chef is having a bad day, he can screw up the waitresses orders unbeliebably and does. The chef reighs supreme and what you don't see behind the walls is a very frustrating experience and then she has to put a a smile back on her face adn deliver the food. She has to know table etiquette as to how to lay the food on the table and try and antciipate what her patrons are wanting. I have been stiffed by people leaving without paying their bill while being very demanding throughout their dining experience. Some people get off on running out and not paying their bill and the waitress has to subsidize their meal and drinks. So she has to keep on the look out for people trying to sneak out as well, while smiling.
When i am out with my friends I always over compensate for the cheapskates who don't tip enough as I know what it takes to have the servitude and humbleness to be a good waitress.

 

[nottyboi]

Yes, the mathematics works out that if you invest the difference, you're much better off. Think of all the expenses that come with owing a house also: taxes, maintenance (roofing, plumbing, lawn care, utilities, insurance, etc.).


Visit below to find out why:

https://www.khanacademy.org/economi...nting-v-buying/v/renting-versus-buying-a-home

The model is based on 6% interest rates... who pays that. But in Toronto, ROI on income property right now is VERY low. That said I feel I over consume on my house as a single guy living in a detached home, so I am changing that this year. That said, it is the best investment I have EVER made in my life. I paid 189K for it in 1997, it is now worth about 700-750K, in the 19 years I have lived her it has provided me with shelter I would value at about $410K (1800x12x19years) TAX FREE, it has also paid me about 30K in rental income (sporradic basement apartment rentals) and probably about 40K in refunds relating to said rental. But subtract 17K in insurance, 40K in taxes, 100K in improvements (utilities I expect to pay in either arrangement) Feel free to tweak the math or add anything I missed, but it has worked out great for me. Of course I admit I was lucky to own it during an unprecedented boom in property prices...

 

[Smallcock]

I agree that North American tipping culture needs to stop. Nobody should ever feel compelled to tip. I always tip when I'm out but I hate doing it.

 

[Smallcock]

The model is based on 6% interest rates... who pays that. But in Toronto, ROI on income property right now is VERY low. That said I feel I over consume on my house as a single guy living in a detached home, so I am changing that this year. That said, it is the best investment I have EVER made in my life. I paid 189K for it in 1997, it is now worth about 700-750K, in the 19 years I have lived her it has provided me with shelter I would value at about $410K (1800x12x19years) TAX FREE, it has also paid me about 30K in rental income (sporradic basement apartment rentals) and probably about 40K in refunds relating to said rental. But subtract 17K in insurance, 40K in taxes, 100K in improvements (utilities I expect to pay in either arrangement) Feel free to tweak the math or add anything I missed, but it has worked out great for me. Of course I admit I was lucky to own it during an unprecedented boom in property prices...

You also need to subtract the interest you paid to the bank on your mortgage for those 19 years. Most people forget this.

For illustrative purposes only: If you paid $600k for a house in 1990 at 4% interest, after 25 years you have paid $350k in interest. Therefore if you sell that house for $1 million you've only made an extra $50k in 25 years, because you actually paid $950k for your house out of your own pocket. If you factor in home repairs, property taxes, and insurance over 25 years, you may not have made any extra money from your home.

Paying off a home mortgage quickly is key to big savings and big returns, or having others shoulder the payments. If you have somebody else paying your mortgage for you (i.e. renters), in the example above, you can actually walk away with an extra $400k in 25 years.

 

[superstar_88]

It's quality of life. You have low standards thus you can live the way you do and be happy. I could take the bus everywhere but I choose not to. Much rather drive my car around. Bottom line is everyone has a fixed amount of money. Choose for yourself how you want to allocate.

 

[nottyboi]

yeah ok I paid about an average of 5% and paid the whole thing down in less then 10 years. Started of with 145K mortgage... so 30K?

You also need to subtract the interest you paid to the bank on your mortgage for those 19 years. Most people forget this.

For illustrative purposes only: If you paid $600k for a house in 1990 at 4% interest, after 25 years you have paid $350k in interest. Therefore if you sell that house for $1 million you've only made an extra $50k in 25 years, because you actually paid $950k for your house out of your own pocket. If you factor in home repairs, property taxes, and insurance over 25 years, you may not have made any extra money from your home.

Paying off a home mortgage quickly is key to big savings and big returns, or having others shoulder the payments. If you have somebody else paying your mortgage for you (i.e. renters), in the example above, you can actually walk away with an extra $400k in 25 years.

 

[Scarey]

Folks,

1.I take lightbulbs , garbage bags, toilet paper,Soap, Utensils, Cola, Water, and various treats they bring in for us from work.
2.I stream movies and TV for free on the net.
3.I buy meat that has 30% off(and then freeze it) and get my bread and bakery stuff on Saturday morning from the day old tray they put out.Once a month, first Tuesday of the month they have a sale on Meat at the local bulk warehouse.....buy 2 get one free.I get my produce for great prices from a local producer.Eggs are free from a neighbor who has free range chickens.Shoppers Drug Mart has an awesome points program and they have great deals on cheese and other staples.I'm closing in on $1,300.00 worth of free stuff this year.
4.Books come from the library, second hand shops, and Christmas and Birthday gifts.
5.I don't wear underwear
6.Socks are usually Christmas gifts.
7.My wife's dad worked for CNR his whole life so train rides are 80% off
8.My wife's a director in the company she works for ,and they buy everything on credit and let the higher ups(the missus)use the points for travel......business class.
9.I work 5 minutes from home and use about $30.00 a week in gas.
10.My wife is a Red Seal chef and i'm pretty damn close.Why would I pay $150.00 - $200.00 for something I can do at home for a fraction of a price...and better.As to the "dining out "experience.I'd find better manners at a homeless shelter.
11.I drive a 2003 grand am that purrs like a kitten and starts in any kind of weather.New car buyers should just calculate 30% of the cost and burn it metaphorically in their drive way when they get home.Because that's how much value it just lost.
12.I've lived in 4 houses.Each one helped pay for the next one through rental fees.$125.000, $200,000, $285,000.00, and the 4th about 3 years from being paid off at $350,000.(all numbers Approximate)
13.I do a lot of yard sales in wealthy areas and you'd be shocked what people will give away for next to nothing because they can.I don't think i've ever bought new furniture, but it sure looks brand new.Kijiji can be a gold mine also.
14.I take the recylables from work each week and pay my neighbors kid to mow the lawn in the summer and shovel in the winter
15.My wife's friend cuts my hair.

That's just the top 15 off the top of head and I don't feel like I'm missing out on anything.Beat that with a stick...oh and mandatory restaurant tipping is for suckers.S-U-C-K-E-R-S

 

[james t kirk]

On one hand, there is being wise with your money.

On the other hand, there is being cheap.

I'm all for being wise with your money, but I don't have the time for cheap people. There's a big difference between being wise with your money and being cheap.

Not leaving a reasonable tip when eating out when the service is satisfactory is cheap. 15 percent for satisfactory service. 20 if you feel it's very good service. More if you want.. To those who think that tipping in restaurants should be abolished, well, then the price of your meal would just go up in order to retain good people on staff.

 

[alex52]

You also need to subtract the interest you paid to the bank on your mortgage for those 19 years. Most people forget this.

For illustrative purposes only: If you paid $600k for a house in 1990 at 4% interest, after 25 years you have paid $350k in interest. Therefore if you sell that house for $1 million you've only made an extra $50k in 25 years, because you actually paid $950k for your house out of your own pocket. If you factor in home repairs, property taxes, and insurance over 25 years, you may not have made any extra money from your home.

Paying off a home mortgage quickly is key to big savings and big returns, or having others shoulder the payments. If you have somebody else paying your mortgage for you (i.e. renters), in the example above, you can actually walk away with an extra $400k in 25 years.

You know nothing about property. I bought my house for $400,000 twelve years ago and is know worth a million dollars. That is 2.5 times increase.

 

[pablice]

Her smile is priceless, and no money can buy that for you...as long as you have enough to get through life is ok ...it's what you make of the little and often overlooked things that matter...money is the root to our indifference..and very sad that it enslaves good souls...

 

[MadonnaLove]

Her smile is priceless, and no money can buy that for you...as long as you have enough to get through life is ok ...it's what you make of the little and often overlooked things that matter...money is the root to our indifference..and very sad that it enslaves good souls...

very well put ………


I just lost a very good friend because the dollar bill blew up his ego he actually said if he's not making money he has no time for others …….he used to be a really good guy :frown: he will be rich and alone

 

[poseidol]

I'm glad you're enjoying the simple life stinkynuts. There's a wonderful freedom in not being chained by debt (and its requisite interest payments), and not being caught up in the materialistic lifestyle that seems so prevalent here in the West. You get to experience life on your own terms.

Some things where money is well spent:
- MPs and SPs that provide warmth, passion and good, consistent service
- good, sturdy shoes that are well built
- good quality, aromatic coffee (freshly ground preferably)
- fresh meat and fish

Money poorly spent:
- the latest fads (in clothing, cellphones, etc.).
- cable television (especially when everything is available for free on the internet)
- warranties on electronics
- credit card interest

 

[nottyboi]

You know nothing about property. I bought my house for $400,000 twelve years ago and is know worth a million dollars. That is 2.5 times increase.

did you pay cash?

 

[Smallcock]

You know nothing about property. I bought my house for $400,000 twelve years ago and is know worth a million dollars. That is 2.5 times increase.

Unless you paid $400,000 in cash 12 years ago, you've paid interest on your mortgage for 12 years which means you paid more than $400k for your house. Therefore, you have not made 2.5 times more than you paid for your house if you sold it for $1 million today. But you've done well regardless.

Interest is how banks make money. It's an added cost to the original price tag of your house, unless you're able to buy your house without getting a mortgage.

For somebody like you who doesn't understand investment mathematics, owning a home is a great thing because it acts as a forced savings account, and you can reap profits when the real estate market is hot like it is now in the GTA. But you'll get much less bang for your buck than somebody that understands how to optimize their return on their home investment.

 

[stinkynuts]

Folks,

1.I take lightbulbs , garbage bags, toilet paper,Soap, Utensils, Cola, Water, and various treats they bring in for us from work.
2.I stream movies and TV for free on the net.
3.I buy meat that has 30% off(and then freeze it) and get my bread and bakery stuff on Saturday morning from the day old tray they put out.Once a month, first Tuesday of the month they have a sale on Meat at the local bulk warehouse.....buy 2 get one free.I get my produce for great prices from a local producer.Eggs are free from a neighbor who has free range chickens.Shoppers Drug Mart has an awesome points program and they have great deals on cheese and other staples.I'm closing in on $1,300.00 worth of free stuff this year.
4.Books come from the library, second hand shops, and Christmas and Birthday gifts.
5.I don't wear underwear
6.Socks are usually Christmas gifts.
7.My wife's dad worked for CNR his whole life so train rides are 80% off
8.My wife's a director in the company she works for ,and they buy everything on credit and let the higher ups(the missus)use the points for travel......business class.
9.I work 5 minutes from home and use about $30.00 a week in gas.
10.My wife is a Red Seal chef and i'm pretty damn close.Why would I pay $150.00 - $200.00 for something I can do at home for a fraction of a price...and better.As to the "dining out "experience.I'd find better manners at a homeless shelter.
11.I drive a 2003 grand am that purrs like a kitten and starts in any kind of weather.New car buyers should just calculate 30% of the cost and burn it metaphorically in their drive way when they get home.Because that's how much value it just lost.
12.I've lived in 4 houses.Each one helped pay for the next one through rental fees.$125.000, $200,000, $285,000.00, and the 4th about 3 years from being paid off at $350,000.(all numbers Approximate)
13.I do a lot of yard sales in wealthy areas and you'd be shocked what people will give away for next to nothing because they can.I don't think i've ever bought new furniture, but it sure looks brand new.Kijiji can be a gold mine also.
14.I take the recylables from work each week and pay my neighbors kid to mow the lawn in the summer and shovel in the winter
15.My wife's friend cuts my hair.

That's just the top 15 off the top of head and I don't feel like I'm missing out on anything.Beat that with a stick...oh and mandatory restaurant tipping is for suckers.S-U-C-K-E-R-S

Nice list ... except the underwear thing. lol!

Yeah, I also think that going to a fancy restauarants and shelling out $20 tips is not very smart. It adds up.

The library is a great source of entertainment, and downloading movies or using Netflix is a great alternative to cable and movies.

I do wish I could cut my own hair, as I live alone and don't have anyone to. Any recommendations on how to do so?

 

[Scarey]

Nice list ... except the underwear thing. lol!

Yeah, I also think that going to a fancy restauarants and shelling out $20 tips is not very smart. It adds up.

The library is a great source of entertainment, and downloading movies or using Netflix is a great alternative to cable and movies.

I do wish I could cut my own hair, as I live alone and don't have anyone to. Any recommendations on how to do so?

I used to do something similiar to this type of deal

http://www.timeout.com/london/shopping/londons-best-free-haircuts

Trainees are always supervised by a master stylist and you usually get better hair cuts because they are literally being graded......for a fraction of the price.Be polite and interested and they'll let you"model" for them every 2-3 months or so.I only had one bad experience and the cut was stopped mid way and a master stylist fixed it for free.