Comments on: Why you should pay for luxuries with cash http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/ Personal Finance Columnist Thu, 09 Feb 2012 03:37:26 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Want to Keep More of Your Money? Here’s What Not to Do - It's Your Money - TIME.com http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/comment-page-1/#comment-2313 Want to Keep More of Your Money? Here’s What Not to Do - It's Your Money - TIME.com Tue, 27 Jul 2010 13:29:05 +0000 http://asklizweston.com/?p=2134#comment-2313 [...] taking out a loan whether you think so or not, and the terms of the loan are pretty awful. Liz Weston says that the only luxuries you should buy are ones you can pay for in cash. The problem, Weston [...] [...] taking out a loan whether you think so or not, and the terms of the loan are pretty awful. Liz Weston says that the only luxuries you should buy are ones you can pay for in cash. The problem, Weston [...]

]]> By: Eric A http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/comment-page-1/#comment-2266 Eric A Mon, 19 Jul 2010 15:20:17 +0000 http://asklizweston.com/?p=2134#comment-2266 John - We went to China last year, and had an amazing time, enjoy! I agree with the diverse vacation philosophy, as it teaches children to value traveling and experiencing new cultures, rather than material possessions. John – We went to China last year, and had an amazing time, enjoy! I agree with the diverse vacation philosophy, as it teaches children to value traveling and experiencing new cultures, rather than material possessions.

]]> By: Craig Arnold http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/comment-page-1/#comment-2256 Craig Arnold Fri, 16 Jul 2010 21:52:23 +0000 http://asklizweston.com/?p=2134#comment-2256 There's another valuable lesson here - your kids have a better chance of learning the difference between need and want. Buying the things your kids need and occasionally the things they want (and as John has done, steering their "wants" a little go get desirable results) may help them appreciate the things they do have rather than wanting whatever they don't have. There’s another valuable lesson here – your kids have a better chance of learning the difference between need and want. Buying the things your kids need and occasionally the things they want (and as John has done, steering their “wants” a little go get desirable results) may help them appreciate the things they do have rather than wanting whatever they don’t have.

]]> By: lizweston http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/comment-page-1/#comment-2255 lizweston Fri, 16 Jul 2010 21:04:54 +0000 http://asklizweston.com/?p=2134#comment-2255 That's awesome, John. In Alaska, pilots often referred to their planes as "a hole in the sky you throw money into." I've heard the same thing said about boats. Better than to own either is to have friends who do! Second best is to rent. That’s awesome, John. In Alaska, pilots often referred to their planes as “a hole in the sky you throw money into.” I’ve heard the same thing said about boats. Better than to own either is to have friends who do! Second best is to rent.

]]> By: John Peralta http://asklizweston.com/2010/07/16/why-you-should-pay-for-luxuries-with-cash/comment-page-1/#comment-2254 John Peralta Fri, 16 Jul 2010 20:09:47 +0000 http://asklizweston.com/?p=2134#comment-2254 I agree with not borrowing for luxury costs. I think people should consider renting or visiting for these types of things and they can keep their experiences diverse and fresh. Instead of a in-ground pool, one could take several vacations, trips to museums, etc. I give my kids a book-buying allowance - they can only buy books with the money and it works wonders because in their mind they see books as something their "grumpy" dad limits so they WANT MORE as a form of rebellion(of course the allowance has cleverly gone up when they want more)! When we go on vacation, we rent a boat for a day or two, or we rent a 4wd for off-roading, or we pay for a guide. Our fun family experiences are much more diverse than our neighbors who are sacked with the expenses of having bought their own boats, pools, RVs, ATVs, etc. They tend to only do one or two things in the limited time they have to use their expensive toys. We're off to China soon for the same cost as our neighbor paid for his boat! I agree with not borrowing for luxury costs. I think people should consider renting or visiting for these types of things and they can keep their experiences diverse and fresh. Instead of a in-ground pool, one could take several vacations, trips to museums, etc. I give my kids a book-buying allowance – they can only buy books with the money and it works wonders because in their mind they see books as something their “grumpy” dad limits so they WANT MORE as a form of rebellion(of course the allowance has cleverly gone up when they want more)!
When we go on vacation, we rent a boat for a day or two, or we rent a 4wd for off-roading, or we pay for a guide. Our fun family experiences are much more diverse than our neighbors who are sacked with the expenses of having bought their own boats, pools, RVs, ATVs, etc. They tend to only do one or two things in the limited time they have to use their expensive toys.

We’re off to China soon for the same cost as our neighbor paid for his boat!

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