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Do people who grow up poor tend to spend less money even when they're not poor

Home Personal Finance and Budgeting Do people who grow up poor tend to spend less money even when they're not poor

  • fatlittlepig fatlittlepig 
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    maybe so, but you won’t see fatlittlepig buying every box of cereal in the store to save a few bucks. i think i’m past that point.. 

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    And why not, exactly?  We know FLP doesn’t care what other people think.

    So let’s imagine you’re at the store, your favorite cereal is on sale and the store has 12 boxes.

    What is FLP’s mathematically correct number of cereal boxes to buy?

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    I personally would buy 2 boxes, cleaning out the shelf to save 12 bucks to me (although you are correct mathematically the most efficient) seems strange and bordering on unseemly.

    #234676 Reply
    q-school q-school 
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    I grew up on free lunches at school (didn’t know why), living in a 2 bedroom apartment with my family (older brother).  We were poor, but happy.  Food security was never an issue.  Family of 4 on my father’s graduate school salary and my dad worked as a custodian as his side hustle.  The benefit my brother and I had as kids was knowing there was a way out (via education).

    Fast forward 30 years.  My brother loves stuff.  Buys shit all the time.  $1.3 house, 2 luxury cars, many watches (>$10-20K each).  I am pretty sure he doesn’t save for his kids’ college.  I went the opposite direction.  Frugal, separate needs vs wants, minimalist.  If I worry about breaking/damaging it, then I don’t want to be a slave to it and won’t buy it.

    Same parents, same upbringing, polar opposites.

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    exactly.  who knows how much control and influence parents, environment have versus individual personality.   it sounds like brother is successful, albeit big spender (compared to this board).   i’m not sure who is ‘right’.   i think that is the beauty of the human condition.   we all make our own choices.

     

    #234679 Reply
    hatton1 hatton1 
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    I need to confess that I frequently buy multiple boxes of cereal when they are on sale. I love cereal.

    #234704 Reply
    Avatar danesgod 
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    Earnest refinancing bonus
    maybe so, but you won’t see fatlittlepig buying every box of cereal in the store to save a few bucks. i think i’m past that point.. 

    Click to expand…

    And why not, exactly?  We know FLP doesn’t care what other people think.

    So let’s imagine you’re at the store, your favorite cereal is on sale and the store has 12 boxes.

    What is FLP’s mathematically correct number of cereal boxes to buy?

    Click to expand…

    One of my favorite stories about my wife’s father occurred when he found some kind of coupon/sale combo that let him get dollar boxes of pasta for $0.50. He went to three local grocery stores and bought ALL of the pasta. It was… like, hundreds(?) of boxes. His excuse, “I’ll eat it eventually.”

    Notes: (1) this is a man worth multiple millions; (2) it took somewhere between 10-15 years, I haven’t been paying attention; (3) Texas sized food pantry

    #234708 Reply
    Liked by Peds
    Avatar AR 
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    I personally would buy 2 boxes, cleaning out the shelf to save 12 bucks to me (although you are correct mathematically the most efficient) seems strange and bordering on unseemly.

    Click to expand…

    OK, now we’re getting somewhere.  At least we’re off the poor grasp of math.

    Strange and unseemly is a fine position to have.  I don’t think of it as such, but I can understand how others might.  It does seem to be a position that is a little bit at odds with the rest of your persona.

    Who cares if it seems strange and unseemly?  You’re FLP.  You don’t care what other people think.  Especially random grocery store patrons and clerks.

    #234721 Reply
    Liked by Tim, danesgod, Lithium
    Lordosis Lordosis 
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    (2) it took somewhere between 10-15 years,

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    To amass the wealth or eat the pasta?

     

    “Never let your sense of morals prevent you from doing what is right.”

    #234729 Reply
    fatlittlepig fatlittlepig 
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    I grew up on free lunches at school (didn’t know why), living in a 2 bedroom apartment with my family (older brother).  We were poor, but happy.  Food security was never an issue.  Family of 4 on my father’s graduate school salary and my dad worked as a custodian as his side hustle.  The benefit my brother and I had as kids was knowing there was a way out (via education).

    Fast forward 30 years.  My brother loves stuff.  Buys shit all the time.  $1.3 house, 2 luxury cars, many watches (>$10-20K each).  I am pretty sure he doesn’t save for his kids’ college.  I went the opposite direction.  Frugal, separate needs vs wants, minimalist.  If I worry about breaking/damaging it, then I don’t want to be a slave to it and won’t buy it.

    Same parents, same upbringing, polar opposites.

    Click to expand…

    What do you think accounts for the difference? I think it’s just random, maybe genetics, who knows.

    #234742 Reply
    childay childay 
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    Who cares if it seems strange and unseemly?  You’re FLP.  You don’t care what other people think.  Especially random grocery store patrons and clerks.

    Click to expand…

    The honda can only hold so many boxes after all

    #234744 Reply
    Liked by Tim
    Avatar danesgod 
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    (2) it took somewhere between 10-15 years, 

    Click to expand…

    To amass the wealth or eat the pasta?

     

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    Sorry for the lack of clarity: to eat the pasta.

    When I first visited their house (over 10 years ago) there were still 50-100 boxes of pasta, specifically boxed spaghetti, stacked on one entire lower shelf in their pantry. I don’t live in the same state, but the pasta has been gone for a few years now.

    #234759 Reply
    Avatar benign_user 
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    (2) it took somewhere between 10-15 years, 

    Click to expand…

    To amass the wealth or eat the pasta?

     

    Click to expand…

    Sorry for the lack of clarity: to eat the pasta.

    When I first visited their house (over 10 years ago) there were still 50-100 boxes of pasta, specifically boxed spaghetti, stacked on one entire lower shelf in their pantry. I don’t live in the same state, but the pasta has been gone for a few years now.

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    Doesn’t pasta expire?

    #234762 Reply
    Liked by Lordosis
    IlliniGopher IlliniGopher 
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    Personality, birth order. @fatlittlepig

    "Comparison is the thief of joy." - Teddy Roosevelt

    #234853 Reply
    Avatar Tim 
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    Personality, values and self image are greatly influenced by peer groups and peer pressures.
    Different friends and relationships.

    #234866 Reply
    SerrateAndDominate SerrateAndDominate 
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    I had two working parents who combined made well for a oil rig worker and piano teacher. Obviously several issues with parents since they divorced but spending was a big one. As a kid, I was always aware of how expensive things were, especially when it was just me and my mom. She always had this mindset that buying lots of nice gifts equated love. Her husband and I are finally breaking her from that. I’ve even gone as far to return gifts that I didn’t want/need but also to make a point. She used to remark that my wife (Dentist, grew up pretty well off with parents in a country club home) would want this and that stuff. I’ve shed the “but you’re a doctor “ crap when it comes to having things.

    I guess I learned by watching what not to do. My oldest sister, OTOH, is all about spending her now ex-husband’s alimony and child support payments. She legit said she couldn’t date a guy who didn’t make what her ex did (software engineer $300k). My wife always remarks on how different my sister is from me in that regard.

    Maybe it’s a combo of growing up poor and wanting things we mistakenly equate with being rich, but I agree with others that social pressure to buy and move up some dumb, arbitrary social ladder is a big driver.

    Earn everything.

    #234893 Reply
    Lordosis Lordosis 
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    She always had this mindset that buying lots of nice gifts equated love.

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    I have a strikingly similar issue.

    This is not a way of thinking I want passed onto my kids.

    I have argued and refused gifts but then I feel like a jerk.

    I wish people would not buy things they cannot afford.  Even worse is giving gifts you cannot afford.

    “Never let your sense of morals prevent you from doing what is right.”

    #234994 Reply
    Avatar Tim 
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    “Even worse is giving gifts you cannot afford.”

    This occurs frequently. Not sure the motivation. At one point, we accidentally got into the “returning the favor”, more than replacing the “value”. The result wasn’t good. Spending on “gifts” with marginal values. Hard conversations to have. “I can’t accept this. But thank you for the thought.”

    #235000 Reply

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