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| Original and still working well from 1914. Made by the OTIS company: DC Electric Motor Smith Tower, Seattle WA |
A lot of people could avoid debt spending and get more out of life by simply making the best of what they have already, by embracing the old faith, family and friendships that already exit in their lives.
Cell phones are a great example: is their really a compelling reason to upgrade every 6 months? What does the new phone do that the old one did not?
Computers are another great example: is there really a compelling reason to upgrade every year? What does the new computer do that the old one did not?
For a long time I was one of those "new is better" people: and this idea may hold true for a lot of "things", but it doesn't hold up for the things that have real value in life.
New love is not better than stable enduring deep and lasting love. A new faith is not better than one that you have believed in for years, that has guided you, that you know to be true. New friends are nice, but they are certainly not better than friends who have been around for a long time. New homes can be nice, but they are not necessarily better then ones that have been made into homes. We can find a lot of things in life that get better with age: classic cars for example/ classic architecture/ classic art/ fine wine, family, faith and friends.
I was even reminded of trees when thinking about this. A new seedling is not nearly as magnificent and glorious as a sacred fig or olive tree. People too become more interesting with age and life experience.
Sometimes the new is worse: I liked the value of the USD in 1980 more then I enjoy the new value of our money. There we times in history when we had a chance to make a great leap forward for the benefit of everyone, but certainly some bad old ideas held us back. So I am not saying old is better and new sucks, I am only saying we should be more careful to be thoughtful when thinking about what this or that "new" things is really worth to us.....
The New Car Example
Did you buy a brand new car and pay the full retail price like me? If so, the only way you will get a good deal out of that car, is to operate it for its full operational life. Car's depreciate so rapidly that their functional use value quickly eclipses their resale value in the used car market. Typical vehicles loose half their resale value within just 3 years, when they can function to bring people and stuff from point A to point B for 20 years or more.
Frugal Smart?
Speaking of new cars: I happen to know two older very wealthy guys that have never owned a new car.... they always buy them use to save lots on the initial depreciation loss of someone else. Perhaps their frugal car buying choices is part of what gives them fiscal stability? Actually, I have noticed that a lot of moderately wealthy people are intelligently frugal.... food for thought, eh? The other side of that, is that poor people spend all of their money: regardless of their income level....... I know of people that make hundreds of thousands of dollars per year, that are always short on money, cause they spend every dime of their income.... is that an intelligent lifestyle to live? To Who's Benefit?
The New Car Example
Did you buy a brand new car and pay the full retail price like me? If so, the only way you will get a good deal out of that car, is to operate it for its full operational life. Car's depreciate so rapidly that their functional use value quickly eclipses their resale value in the used car market. Typical vehicles loose half their resale value within just 3 years, when they can function to bring people and stuff from point A to point B for 20 years or more.
Frugal Smart?
Speaking of new cars: I happen to know two older very wealthy guys that have never owned a new car.... they always buy them use to save lots on the initial depreciation loss of someone else. Perhaps their frugal car buying choices is part of what gives them fiscal stability? Actually, I have noticed that a lot of moderately wealthy people are intelligently frugal.... food for thought, eh? The other side of that, is that poor people spend all of their money: regardless of their income level....... I know of people that make hundreds of thousands of dollars per year, that are always short on money, cause they spend every dime of their income.... is that an intelligent lifestyle to live? To Who's Benefit?
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