Lîvíng the good life on $30,000

[HoneyBBQ]

That article is garbage. Who buys Movado watches on 30k a year? This guy is a douche canoe.

That said, I lived on HALF that as a student and had a GREAT time... especially in grad school. However, my life revolved around beer and classes, not working/home/family.

Doing it with a family would be hard but not impossible.

[NomoreDramaQ1015]

It's doable, but like the article it isn't doable all at once and it would take a really long time.

Combined DH and I net about $55k and I try to hammer home to him that we CAN have some of the things his BIL has on 3/4x our salary we just cannot have it all AND have it all at the same time. We have to carefully plan and it will take us longer than it would if we had higher salaries.

My BIL can't either, but that is a different story. He's the guy from the commerical that says "How do I do it? I am in debt up to my eyeballs".

We also live in an area where it is doable though. My house is valued at about $90k, no way you are getting a house for that price somewhere like California.

[illinicheme]

I think it's certainly possible to occasionally find incredible deals on formerly expensive material goods. But it doesn't really meet me definition of "living the good life."

[Deleted]

My first house was 42K. Sometimes I fantasize how my life would be now if I'd just stayed there in 2000 instead of building a big house in the country and never had any kids. I'd be styling on 32K with no mortgage or childcare.

[Gardening Grandma]

Well the house part IS possible, BUT there are a lot of things not mentioned.

My son is currently looking for a foreclosure to buy. Last week he looked at one, the bank was asking $75000. It was assessed at $140000. My son said that it probably needed $25K to $30K to make it habitable. That a lot of these foreclosures have been trashed (esp the lower priced ones). That house sold in 4 days - he is still looking.

I do think you can live well on less than you think. After pricing a pair of "Not My Daughter's Jeans" at $115 in a dept store, I bought a pair on ebay for less than $20, including shipping.

[Frugal Nurse]

doable? yes. Desirable? no. It doesn't seem like it would leave much room for savings, vacations, fun stuff. I can get by pretty inexpensively, but I wouldn't like it.

[RoadToRiches]

Where I live, yes it's doable. If I didn't have credit card debt, I could probably live on 30k per year right now.

[dancinmama]

I guess if you want that "stuff", that's the way to get it.

We tend to spend our money on "living" rather than on stuff. We spent a lot on our home cuz that's where we live. We also like to buy concert and sporting event tickets, go to museums, travel (when we have time), spend money on good food and booze when we have people over, etc.

We drive very nice, but older model cars purchased used with low mileage. Both are over (8) years old and have many, many good years left.

Just curious. How many of you YMers would know a Movado if you saw one? How do you know? I have NO CLUE.

[Tiny]

Who buys Movado watches on 30k a year?

Not really defending the article and author here but a very possibly answer to the above question:

Someone who really values Movado watches and who's willing to give up other descretionary spending to buy them.
a.) they are buying older models on the secondary market
b.) they may only buy one a year or every couple of years when they find the 'exact one' they are after.

The whole designer/expensive items thing is abit beyond me... there seems to be 2 camps of people - those buying 'last year's or older' designer stuff on sale/discount/secondary market (I guess because just owning the designer stuff makes them feel good - even if it's outdated) and those buying current designer stuff at retail (I guess because owning the latest designer stuff makes them feel good).

[Tiny]

Just curious. How many of you YMers would know a Movado if you saw one? How do you know? I have NO CLUE.

I might - they have a very plain watch face (or atleast they did in the past). I like the minimalist look. I don't own one as I'm hard on watches (crack the bezels, bend the metal bands, submerge them in water when they shouldn't be, etc). If I'm just gonna destroy the watch sometime over the next 24 months why buy a super expensive one? To save it in it's box in a drawer -- forever waiting for the never to arrive 'special occassion' when I'd wear it?

[april47]

He doesn't say he does it for real. Just he experimented and found you could. Does he even live in that house? He probably really live in a "better" neighborhood. Does he take into that $30,000 kids, daycare and emergencies?? That said, I live on less. But, I am retired with few bills and tastes that don't run to expensive watches and cars.

[daisylu]

May 11, 2011 11:06:30 GMT -5 Tiny said:

Who buys Movado watches on 30k a year?

Not really defending the article and author here but a very possibly answer to the above question:

Someone who really values Movado watches and who's willing to give up other descretionary spending to buy them.
a.) they are buying older models on the secondary market
b.) they may only buy one a year or every couple of years when they find the 'exact one' they are after.

The whole designer/expensive items thing is abit beyond me... there seems to be 2 camps of people - those buying 'last year's or older' designer stuff on sale/discount/secondary market (I guess because just owning the designer stuff makes them feel good - even if it's outdated) and those buying current designer stuff at retail (I guess because owning the latest designer stuff makes them feel good).

This is why I try not to judge people based on their vehicle, purse, etc. Most people can afford these types of things - but they would be making sacrificing in other areas.

[ty]

I suppose he's living the high life to those on SS benefites getting 700 to 1k per month to live on.

[dancinmama]

May 11, 2011 11:16:30 GMT -5 daisylu said:

This is why I try not to judge people based on their vehicle, purse, etc. Most people can afford these types of things - but they would be making sacrificing in other areas.

Or maybe they just don't want them.

[❤ mollymouser ❤]

This Movado watch is about $600ish.

Attachments:

[nalto]

Meh. I've never understood the allure of watches. Especially on a dude. It's like wearing a bracelet that constantly tells you how late you are.

[dancinmama]

May 11, 2011 11:41:12 GMT -5 ❤ mollymouser ❤ said:

This Movado watch is about $600ish.

$600 and it doesn't even have numbers!! What a rip.

[hurley1980]

May 11, 2011 10:30:34 GMT -5 @illinicheme said:

I think it's certainly possible to occasionally find incredible deals on formerly expensive material goods. But it doesn't really meet me definition of "living the good life."

This. I don't buy alot of designer/expensive stuff. I just can't justify the cost, since my style changes frequently (mostly out of boredom), but if I'm looking for something I want to last a while, I look for designer/name brand thats made well and will hold up. Sometimes I can find something nice at a thrift store, but it requires alot of searching. Also anything thats high quailty/high price and is being sold for cheap on ebay is probably going to have a million bidders on it, and you most likely have to glue yourself to your computer for the last 30 minutes of bidding. Bottom line is great deals take some effort to obtain, and alot of people just don't have that kind of time....definitley not "living large" like those who just walk into a store, point to a $3000 watch and say "I want that!" And you're not always going to find what you're looking for. This guy makes it sounds as if its as easy as typing in the product, and hitting the BUY button. A little msleading.

[michelyn8]

May 11, 2011 10:24:38 GMT -5 @insurancegal said:

So, what do you think? Think it is possible?

finance.yahoo.com/news/First-Person-Living-Six-ac-2328933919.html?x=0

Ok, so he had to do what most lower income folks already do - save, shop for deals, and be patient. Nothing new there.

I don't know why he's so proud of himself. I've been able to find great deals on Ebay too because I refused to pay what stores were asking for items I thought should cost less. And I know I'm not the only one looking for good deals on there or Ebay wouldn't have lasted its first year.

[michelyn8]

May 11, 2011 10:57:06 GMT -5 dancinmama said:

I guess if you want that "stuff", that's the way to get it.

We tend to spend our money on "living" rather than on stuff. We spent a lot on our home cuz that's where we live. We also like to buy concert and sporting event tickets, go to museums, travel (when we have time), spend money on good food and booze when we have people over, etc.

We drive very nice, but older model cars purchased used with low mileage. Both are over (8) years old and have many, many good years left.

Just curious. How many of you YMers would know a Movado if you saw one? How do you know? I have NO CLUE.

I must be out of touch because I had never even heard of a Movado watch before I saw this post.

[gooddecisions]

I wear a Movado watch and have never really thought of it as a luxury. My engagement ring cost a lot more than the watch I've worn every day for 7 years. There are a lot more non-necessities that cost way more than $600 and you don't even get to use them every day. But, mine was a gift, I probably wouldn't wear a watch if this one hadn't been gifted to me.

I used to make 30,000 gross after overtime and felt like I was living the good life. Of course, I had a roommate back then and was only paying $500/month for rent and utilities.

[Poppet]

"This guy is a douche canoe."
"How many of you YMers would know a Movado if you saw one"

I wouldn't recognize a Movado watch if it rode in on a douche canoe.

[skubikky]

"Someone who really values Movado watches and who's willing to give up other descretionary spending to buy them. "

I think that he bought a few and then kept one and sold the rest. Seems to have fully paid for his watch and then some. Not a bad strategy.

[skubikky]

Try not to get caught up in what he bought,(i.e. the fact that it was a watch that you might not have any interest in) but better in how he managed to afford something that he wanted.

It was just an article to highlight a few creative ways to procure things that one might want. Would it have resonated more if it were tickets to a concert or a show?

[CarolinaKat]

May 11, 2011 12:35:57 GMT -5 Poppet said:

"This guy is a douche canoe."
"How many of you YMers would know a Movado if you saw one"

I wouldn't recognize a Movado watch if it rode in on a douche canoe.

[ty]

May 11, 2011 11:49:42 GMT -5 dancinmama said:

May 11, 2011 11:41:12 GMT -5 ❤ mollymouser ❤ said:

This Movado watch is about $600ish.

$600 and it doesn't even have numbers!! What a rip.

It's the cheap version of the Rolex, and you can get a rolex at the Swapmeet for $10.

[Deleted]

May 11, 2011 12:38:15 GMT -5 skubikky said:

"Someone who really values Movado watches and who's willing to give up other descretionary spending to buy them. "

I think that he bought a few and then kept one and sold the rest. Seems to have fully paid for his watch and then some. Not a bad strategy.

He called that getting the watches for free, seeming to miss the point that he could have spent that $500 on something else.

He talks about the mortgage being under $500 but not what the taxes are or how much the renovations cost him, even with doing a lot of the work himself.

He got a couple of good deals. That does not a life make.

[dancinmama]

May 11, 2011 12:43:23 GMT -5 skubikky said:

Try not to get caught up in what he bought,(i.e. the fact that it was a watch that you might not have any interest in) but better in how he managed to afford something that he wanted.

It was just an article to highlight a few creative ways to procure things that one might want. Would it have resonated more if it were tickets to a concert or a show?

Maybe I should look on E-bay for used concert tickets. ;D

I think anyone who is frugal looks for creative ways to procure ANYTHING that they want to buy at the lowest cost possible. For example, I use a combination of sales, manufacturer coupons, and store rewards to get most toiletries, paper products, and cleaning supplies for free. Then I take those savings and apply them to other items that are in my budget that I am forced to pay market price for - gasoline, concert tickets, etc.

[Deleted]

I say you can do it but I know we can't.... would need to cut out a lot of things to make it happen.
I have no problem buying second hand clothes since I was raised by struggling mother and hands me down were a good alternative. My wife finds it just weird and would never do it (even after I suggested she could get dry cleaned) so for her it's a no go which sucks for us since she spend way way way more money on clothes than I do.

[Sum Dum Gai]

It's possible for sure, my mom is only making about that now. Of course she lives in a small town in AZ, not the bay area in CA. That part usually isn't mentioned in articles like this.