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I doubt they were spending $15 per day on that stuff, but still it can add up.  Ill never understand the people that smoke and have no $.  Whenever I run into a QuikCheck/7-11/Wawa type store to buy something there is at least 1 person in there buying cigarettes for $6+, one time the person was paying in coins.  Nothing against people who smoke but people who dont have the money to do so should figure out how to quit.. theyd be RICH!

 

Many people spend 15/day on food or heck, even just on a car.  Figure if you lease/financed your car and your average bill is 300/month and you spend 150/month on gas - there is 15/day :)

 

That ignores insurance, cleaning, upkeep, parking, tolls, fees, licensing as well.  It's the reason I so can't wait to not own a car and just rent one as I need.  Already ride my bike 90% of the time to work!

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Many people spend 15/day on food or heck, even just on a car.  Figure if you lease/financed your car and your average bill is 300/month and you spend 150/month on gas - there is 15/day :)

 

That ignores insurance, cleaning, upkeep, parking, tolls, fees, licensing as well.  It's the reason I so can't wait to not own a car and just rent one as I need.  Already ride my bike 90% of the time to work!

true, but most would not consider a car as "frivolous" not everyone lives/works in areas that allows someone ride a bike or use public transportation.  so if someone needs a car they dont have an option to save $15 a day from that. 

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Many people spend 15/day on food or heck, even just on a car.  Figure if you lease/financed your car and your average bill is 300/month and you spend 150/month on gas - there is 15/day :)

 

That ignores insurance, cleaning, upkeep, parking, tolls, fees, licensing as well.  It's the reason I so can't wait to not own a car and just rent one as I need.  Already ride my bike 90% of the time to work!

 

Of course, to someone other than yourself everything they spend money on can be considered a want and not a need. It is a very difficult line to draw for many, as I highlighted in my previous post.

 

Do you need the house you're paying a mortgage on? You could downsize or move to another area to lower or eliminate this cost.

Do you need a cell phone? You could save over $1200 a year ditching the smartphone.

Do you need Internet access? You could save a great deal ditching this as well and visiting public places for free access.

 

This is why it is very easy to armchair complain about someone else's finances, but it is, in reality, very difficult for everyone to manage their spending.

 

That being said, I do agree with you regarding cars. Most Americans are "car poor" and it is the reason I don't own a car and don't plan on owning one anytime in the future.

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Unfortunately that new car of yours might've set you back quite a bit!

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Of course, to someone other than yourself everything they spend money on can be considered a want and not a need. It is a very difficult line to draw for many, as I highlighted in my previous post.

 

Do you need the house you're paying a mortgage on? You could downsize or move to another area to lower or eliminate this cost.

Do you need a cell phone? You could save over $1200 a year ditching the smartphone.

Do you need Internet access? You could save a great deal ditching this as well and visiting public places for free access.

 

This is why it is very easy to armchair complain about someone else's finances, but it is, in reality, very difficult for everyone to manage their spending.

 

That being said, I do agree with you regarding cars. Most Americans are "car poor" and it is the reason I don't own a car and don't plan on owning one anytime in the future.

 

I've already downsized, work pays for my phone and when I moved, I made sure to move within a bike ride distance to where I work.

 

Being car poor sucks and all too often people never realize how much having car(s) impact their budgets.

 

The one car I do have is paid off, but maintenance, fuel, insurance, parking, tolls add up..  Just wish more people biked to work (or commuted by bike to whatever it is you do..)

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Where did you get that number from? According to my quick dash in Excel it should be an effective interest rate of 1.005% which also is agreed to by Wikipedia.

 

Far below the 2% inflation target of the Federal Reserve.

 

My apologies, I punched in the wrong numbers (it was a hard long day at work and it's +30C outside). Basically, I accrued each month, instead of once a year. 

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