Getting things off your list. - page 4.

Snappycoco

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

Well for me, invest first before you buy those things that you want. I'm a teenager who's suffering from financial crisis and having a 3rd world country is making it much worse. Reading and watching youtube motivational videos also makes me disagree with you. Lots of my followed financial advisors in YT preferred to invest first before buying things. 50/30/20 rules applies as well.

ChiBitCTy

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

To some extent I like what you are saying here, but to another I'm not sure all of this is exactly how people should be approaching things. Often time waiting to purchase things means you can leave the money you currently have invested to continue to grow and save it for an even more appropriate time to purchase them. Right now that new TV I want I could easily have but do I really want to see some of my stocks or bitcoin in order to purchase that, especially when I believe they are in a strong accumulation phase? Not so sure.

kryptqnick

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What the op's suggesting only works for wealthy people who have the money to buy stuff but just stall for some reason. Also, I'm not sure that I fully agree with this. For instance, buying a house is a bigger and more important decision than buying a mixer, so perhaps not rushing with the house and not overspending on a mixer when you need more money for the house makes sense. I'm against cars, but I'm sure the same goes for it: people aren't usually willing to buy a random car; they want it to feel right and to cost reasonably (in my country, there's a problem with cars being more expensive than in the EU, for instance, because of high taxation rates). It's important to have a list, and to get things off when possible, but some big decisions like the kind of house you buy require more thought than the kind of cooking utensil you buy.

Piggymonster

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Quote from: Darker45 on November 01, 2021, 08:55:34 AM

I wish it is this simple. From where I'm living, an ordinary person wishes to buy a house as early as possible, but ends up buying one only after retirement at 60 years old or above. My parents must have wished to buy a house as well. Today, they're both old and separated. They were never able to build one for the family. It is very common for an ordinary person or family in my country to wish to have a car one day. To the majority of them, that wish will remain so until the day they die.

I felt emotional after reading your post, life is hard specially in poor countries and now when the pandemic hit makes life far worse for the poor. Economic crisis, job loss and unemployment stress many families are struggling to put food on the table how much more on buying a house and car?. Though life is tough, but it is not a hindrance to live a comfortable life. The best things in life are free, they come in the form of good health, family, love, friendship, simple pleasures, we should focus on improving the quality of our life not on just acquiring material wealth.

LastKiss

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

Well if you have one house then u will need another house, if you have a car mostly u want to have another car the more expensive one. It's not about how fast we take out our what we need from our list but we need to think it thoroughly like do we really need that car? Mostly our mind just thinking what we like not what we need also we need to be grateful for what we already have Wink

LogitechMouse

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

Prices of houses decreases as they are being used but the price of land increases.
Cars? they're depreciating because a new model are launching anytime. Its just like smartphones that depreciates its price as a new model is released so its the same as cars.
Home equipment? Same as cars. As they are being used, the price of it decreases.

In general, I don't think that this is true. Prices increases yes because of inflation that makes the buying power of money goes down therefore, prices of everything increases from foods to cars to equipment. As for me, I'd rather invest my money than buying something like land or car. Delayed gratification is what I like to do

.

so98nn

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Quote from: mk4 on November 01, 2021, 12:11:00 PM

That's such a broad "advice" that it could mean multiple things.

If you meant that just buy that thing asap just to get it done with, then prooobably not a good idea.

On the other hand, if you meant buy that thing if you already have enough savings for a rainy day, that your finances are already managed really well, and that you've already done your monthly DCA investment, then probably; sure.

I think what he meant is real simple buy the things which you need, wait for your turn to buy those things which are way expensive for ya at this time. I think it’s okay to be like this if we are on medium scale wagers and has a family to look after. I have observed my parents who are chief wage earners would always go after the dreams of rest of family rather than theirs. Their priority is always grocery and food, important stuff required to run the house like fuel, different bills, etc. I think that’s what it is, you don’t overspend on unwanted things.

TheNineClub

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That is not a bad strategy, however, for things like buying a house, that really isn't a viable solution. Not a lot of people have the funds to buy a house quickly and lay need to save up for years to do so. I know it depends on your country of origin, but thi is more or less universal. Sure, it can be done if you have the money ready, but that's a diferent topic.

Hippocrypto

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

Having those kind of plans like you want is such a great things. But, I think it's not that simple to do such things quickly. I also wish to buy even a simple things for my family such as house or any thing that can make them happy but, it's not that simple, you must need to double your hardwork for you to grant all of that wishes. Of course I want to buy anything I want because it serves us my self reward. If really I can afford it then why not. If you can afford it and it is necessary, then why not buy anything you've planned. I know it will make you happy.

Mauser

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I like your approach to do things more quickly, it's a good way to life in the moment and to not procrastinate. This is a problem I have myself where I keep postponing things until the last minute. Being more proactive when it comes to small things is good, but when it comes to larger purchases I am not sure. Buying a house or a apartment is a very serious investment, we do such kind of purchases maybe once or twice in life. Rushing such a decision can be problematic because we will locked into it for many years. Loans for buying an apartment usually run for 10 years, so if we rush into a bad loan we might not be able to get out of it. Same goes for the actual place we buy, we need to be sure it's not a lemon we are buying. For example how is the wiring in the apartment, maybe it's not modern enough and we need to renovate in a few years. Same goes for the roof or basement, when it comes to such important decision we should really think it over.

aoluain

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Quote from: Findingnemo on November 02, 2021, 01:36:35 AM

Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

You are wrong and completely wrong, have you heard of delayed gratification?

You might have need and want list but both are not same, more you delay the want list then more chances to become less and lesser.

And when you have atleast 10 times more cash than the cost of your wanted product in your bank account then just go for buying it.

This reply is very similar to what I am thinking. There is far too much "want" in
the world today which leads to over consuming which is killing this planet.
Delayed gratification for things we want usually results in us realising we
dont actually need them.

Delayed gratification is beneficial especially if we factor in Bitcoin, for example
if you NEED something today but can delay its purchase until December you
wont have to use as much Bitcoin then even though the items price may have
gone up.

I thought this thread was going to be about something elae particularly after
the OP's opening line "strike things off your need/want list and be content"

I thought it was going to be about not buying that new latest watch, phone,
car, clothes etc. but keep your funds for more essential stuff.

davis196

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I kinda agree with your point.Things become more expensive day after day,so it's a good decision to buy them today(if you have enough money to buy them).I'm not a fan of consumer debt and getting loans to buy stuff you don't need.
However,houses,cars and furniture are liabilities,not assets(except some houses/apartments,it depends of the location).
A liability can increase your expenses,while an asset can bring you new income.You should focus on gathering more assets,rather than wasting your money on more liabilities.
I don't agree that you have to make fast buying decisions,when it comes to buying a house,a car or furniture.
You might regret for decisions that you have made,especially without enough thinking and analysis.

hugeblack

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Personally, I don't advise you to save, especially in paper money, because it loses its value over time, so when you want to get used, you'll find out that a large part of your asset value has turned zero because of hyperinflation, and also the expropriation of assets like gold and others doesn't yield a good return, especially if you decide to save.

Vaskiy

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Quote from: Darker45 on November 01, 2021, 08:55:34 AM

I wish it is this simple. From where I'm living, an ordinary person wishes to buy a house as early as possible, but ends up buying one only after retirement at 60 years old or above. My parents must have wished to buy a house as well. Today, they're both old and separated. They were never able to build one for the family. It is very common for an ordinary person or family in my country to wish to have a car one day. To the majority of them, that wish will remain so until the day they die.

Almost the same is happening on third world countries. In my country if we have the plan to buy/construct a home , it is possible on the rural regions. Because of the property value, construction cost. In City region the expense for the same will be atleast five times the cost.

If our parents have saved in terms of cryptocurrency, now we might've bought a mansion and had a luxury car. Grin

dbc23

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There is no need hesitating when the funds are available but in cases where what you plan to buy is beyond your budget settling for lesser products wouldn't be an advice. Saving more so as to meet the taste of your wants can come in handy. This will protect against buying what you would end up not getting satisfied about.

Findingnemo

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Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

Try out this strategy, strike things quickly out of your need/want list and be content, so they no longer become a problem and hindrance to your plans to save/invest.

If you plan to buy a house for your comfort, and it is within your means, seek out a way to get it done quickly.

If you plan to get a car, as you feel you are ripe enough for it, and there's a means to get it, don't hesitate, get it quickly off your list.

if you plan to buy a home equipment, electronics or furniture, and it is super important to you and your comfort, buy it and get it off your list.

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

You are wrong and completely wrong, have you heard of delayed gratification?

You might have need and want list but both are not same, more you delay the want list then more chances to become less and lesser.

And when you have atleast 10 times more cash than the cost of your wanted product in your bank account then just go for buying it.

Wexnident

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I don't request loans~

Well, I'd reckon it's also something that would help you get it off of your mind, though honestly before considering the price, I'd really consider trying to identify whether that stuff are needed or not though, like create a priority list or something similar. Though it is still advantageous if you're able to tick off some stuff that you really want off your list in the long run. There's still some risks involved but as long as it's properly planned out I don't think there's anything wrong with that.

Quote from: mk4 on November 01, 2021, 12:11:00 PM

That's such a broad "advice" that it could mean multiple things.

If you meant that just buy that thing asap just to get it done with, then prooobably not a good idea.

On the other hand, if you meant buy that thing if you already have enough savings for a rainy day, that your finances are already managed really well, and that you've already done your monthly DCA investment, then probably; sure.

Well, I'd reckon the list was already made with each one having their own priority in mind.

lienfaye

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If its really necessary and you can afford then why not. Its true that as time passes, things are getting expensive hence there's nothing wrong if you buy at this time (especially if its important to you) so you can list another goal to achieve.

But for me I prefer to priotize the needs before wants. I am more on expanding my resources to earn more so that in time I can retire as financially stable. Those things can wait and even worse scenario happened (like dying since its inevitable), its fine since I can pass the fruit of my hardwork to my kids.

ashmodeus

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of course i am . i call it self reward , because i still single of course , no need to hold my desire for something, as long we are not exaggerating our wish list , we still behave normally about wishes.

cabron

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Quote from: tulusikhlas on November 01, 2021, 11:45:18 AM

Quote from: Rruchi man on November 01, 2021, 06:39:39 AM

The longer you wait at times, the more prices increase, things are not getting cheaper, the longer you wait the more the thought of this need bugs your mind.

What if an item when first launched is expensive, do we have to buy it immediately or do we have to wait for the price to drop first and wait for a new version to come to replace it?
I don't want to rush just because I have to rush what I want to have, be it property or the like. Not all waiting is a bad thing. Unless item X has a limited supply and cannot be renewed, the price will be even more expensive.

This is if the supply is not disrupted already. If you just knew what is going on in the supply chain today, you will not be seeing your Christmas package arrive if you order today because it may come after 6 months. With such a situation, the effect is that instead of prices going low because the launch price is higher, it may not go that direction anymore because if you add the inflation, the price may go higher instead.

I would rather take care of my old car, washing machine, and all that I have and never waste a dime. But buy more stock food, scarcity could come.

Topic: Getting things off your list. - page 4. (Read 591 times)