Thread: American average daily spending

Originally Posted by Maanaam

You'd better start spending and enjoying it.

Originally Posted by JPPR2

quality of life is everything. Who wants to be 80 and sitting doing nothing with a lot of money. I say after 55 spend like you stole it.

There is both wisdom and flaws in the presented logic. Speaking for myself and myself only - I have everything I need, I have everything I want, I have everything I desire, my bucket list is empty, nothing that I want to do that I haven't done, no place that I want to visit that I haven't been.

Today - sitting pretty, lazy, nothing on the agenda - visit friends and family in the US end of month for a month.

Money is of no consequence, pulling $3k/mo. from my retirement nest egg, in four years that'll be replaced with our social security retirement benefits. The nest egg will continue to grow. It increases in value more than our distributions. So, when I get the final call that no man can refuse - somebody gonna get a bunch of free money. Up to them if they squander it or put it to good use. It served me and mine well.

I am at the point, and in the position, that money is meaningless.

Originally Posted by JPPR2

In the states a study was out and IIRC most Americans would struggle to pull together $10,000 and most that did , leveraged credits cash advances to do so. I am always on my daughter's to pay themselves. My youngest is on board now at 23. My oldest not so much. I told them do not plan on a big inheritance from me, I plan on running out.

Speaking of that I read that the new financial plans that many 25 to 35 year olds have is live at home and wait for the inheritance. So no need for them to save. Go out and buy that $100k Benz, BMW or Porsche and live off the parents.

In my years I've come across many well educated and otherwise intelligent people that were more or less bumming around and wasting those critical parts of their lives waiting for their parents to pop off or their trust to mature. Against that is their general philosophical reasoning that whatever they are doing constitutes life experience.

Also known many from wealthy families that worked hard make it on their own.

Originally Posted by bowie

I am at the point, and in the position, that money is meaningless.

I'm not quite yet because of two reasons: kids.

^And your children.

Originally Posted by jabir

According to some consumer report a while back, most Brits couldn't put together £500 in a hurry. Don't know about America, probably similar.

MONEY

Only 39% of Americans have enough savings to cover a $1,000 emergency

Published Thu, Jan 18 2018 • 1:20 PM EST Emmie Martin@EMMIEMARTIN

Scary thought - naw, not in the least... gofundme!!!!!

Originally Posted by AntRobertson

Saw something similar for NZ while back, think it was around the $5,000-10,000 mark.

You Kiwis appear to be quite well orf, bit of a difference in the stress stakes between a generous $5-10k and what should be a manageable £500, the type of amount one might need for sudden and critical car repairs.

Far from super rich, but can't imagine not being to scrape together a few £k in a hurry.

Originally Posted by bowie

MONEY

Only 39% of Americans have enough savings to cover a $1,000 emergency

Published Thu, Jan 18 2018 • 1:20 PM EST Emmie Martin@EMMIEMARTIN

Scary thought - naw, not in the least... gofundme!!!!!

More or less tallies, and as you say scary!

Originally Posted by Texpat

And your children.

Stop beating around the bush Tex.

If you're gonna say it say it.

Originally Posted by jabir

You Kiwis appear to be quite well orf, bit of a difference in the stress stakes between a generous $5-10k and what should be a manageable £500, the type of amount one might need for sudden and critical car repairs.

Far from super rich, but can't imagine not being to scrape together a few £k in a hurry.

I checked that and it was actually $10k.

Pretty much in the same boat as you on that one.

Originally Posted by jabir

Also known many from wealthy families that worked hard make it on their own.

Yup, know a couple that were born with the "silver spoon" - yet, when they look in the mirror, they aren't all too happy with the person they see. Doesn't really matter who you are or what circumstances you are born into. You pass judgement on the man in the mirror - and only your own hard work will satisfy him.

Originally Posted by bowie

There is both wisdom and flaws in the presented logic. Speaking for myself and myself only - I have everything I need, I have everything I want, I have everything I desire, my bucket list is empty, nothing that I want to do that I haven't done, no place that I want to visit that I haven't been.

Geeeezzuuus Bowie, why the hell do you even want to live. You are saying you plan on possibly another 30 years of living with zero aspirations?

I'd off myself...

Originally Posted by AntRobertson

I'm not quite yet because of two reasons: kids.

Children change everything. I just finished up my last one through college. Now it's free sailing until the marriage deal.

Originally Posted by JPPR2

I just finished up my last one through college. Now it's free sailing until the marriage deal.

The if/when of college is still a little ways off for us, not to mention the marriage deal.

They can fuck right off with that shit though they're on their own with that one.

Apropos of this thread...I recently opened a couple of investment accounts for my kids to do online trading in some ETFs.

Nothing serious, started them off with $100 each and they invest about $10 per mth of their pocket money just to get them used to the idea of saving and investing.

Explained the basics and left them to make their own choices and mistakes... which they promptly did. Checked today though and they're finally starting to get some returns so will be good to show them those.

Money gives one options. Nothing really more, at least that's how I see it. Everybody has different desires, needs and wants. Their personal make dictates how much they might need or want. For me I play hard and love my tech shit. I'd love to buy me a long boat as a project. Regardless though at my age I will incur nothing on debt. I buy it when I have cash. My wife here is always counting baht. I told her do what you want but don't bother me with it. I was the same when we lived in that states. I must still have money because I have blank checks and they accept my credit cards...

I went back and looked at what my wife and I were spending while I worked back in the states. Their stats do not lie. Ball park was $240 to $270 a day. Bulk was housing, gas, food and utilities including cable and internet.

Originally Posted by Simon43

I have a very enjoyable life, buying what I want with my monthly $3k income, and living where I want. I live my life how I want, and I feel zero pressure or desire to 'waste' my money on frivilous items

Now, that's the way to do it. Simon, ya happy with the man in the mirror? The life many pursue and few obtain.

I've dealt with the rich, and found many, not all, but many, are miserable folk worried about others taking what's on their plate, and not being able to develop friendships, undeserving superiority complexes, etc. But, most were raised believing the fallacy that money buys happiness... a most shocking truth when they realize it can't

Originally Posted by JPPR2

You are saying you plan on another 30 years of living with zero responsibilities?

"God Willing"

FTFY

Yup - freedom, able to do what I want to do, when I want to do it, how I want to do it, on my terms, no concerns, no cares, no worries, everything is entirely up to me, I'm alive and undamaged, freedom with a capital "F", not a care in the world... only took me sixty years of planning and good works to reach this state...

Originally Posted by Simon43

There are millions of people in the world who don't have that luxury.

Your station in life, does it matter? look around, you don't have to look far to find folk that are so much worse off than yourself...

There but for the grace of God...
If you happened to be born in the slums of Bangkok, with all the opportunities that would present themselves to you, could you climb out?

Originally Posted by bowie

"God Willing"

FTFY

Yup - freedom, able to do what I want to do, when I want to do it, how I want to do it, on my terms, no concerns, no cares, no worries, everything is entirely up to me, I'm alive and undamaged, freedom with a capital "F", not a care in the world... only took me sixty years of planning and good works to reach this state...

Whew, glad you FTFU. Don't get me wrong. You and I have posted before and agreed on financial and personal freedom to do whatever you like when you like. I am there and have been but man I gots things I wanna do, projects to embark on, places to go hang out but all on my terms ( of course with wife constantly in my ear saying "Pang"..

Originally Posted by cyrille

TSP (Thread Smugness Potential): 10/10.

Where's TC?

Probably best if you don't read this thread as you'll only end up making yourself feel even more worthless.

So I am sitting in a Van ride back to the airport and ran some basic daily numbers

United States all living expenses (California) near $330 to $370 a day

Thailand all living expenses $45 to $70 a day.

Glad I am here

Originally Posted by JPPR2

American average daily spending

Yup, back to the threads topic with a slight twist

Through analysis - and I did do a thorough analysis - USA Northeast coast, yup, high cost-of-living, high tax area. Family was spending USD $60k/annum Cash (after tax cash). So, USD $165/day

Nonthaburi - same living conditions and same standard of living we're spending about USD $40k/annum $110/day

So, roughly, my cost-of-living in Thailand is running about 66% of USA Northeast coast

Originally Posted by JPPR2

United States all living expenses (California) near $330 to $370 a day

Now that's a "Wow"... whereabouts - you one of the San Fransicans? Does keep my side of the USA in perspective.

Originally Posted by bowie

Now that's a "Wow"... whereabouts - you one of the San Fransicans? Does keep my side of the USA in perspective.

Median apt rent in SF is now $3,900.00 bucks a month.
And for that, you have to navigate thru sidewalks of human feces & used needles .

If you happened to be born in the slums of Bangkok, with all the opportunities that would present themselves to you, could you climb out?

If someone helps you (teach a man how to fish etc etc)...... That's what got me started on my charity work in Burma. The kids didn't have money to buy textbooks, but each book cost only 1 US dollar! My little money goes a long way and many only need a little help to open up opportunities. (I never donate money - I only buy the specific things that will help them to improve themselves).

As some may know, about 18 years ago I was a USD millionaire. Now I'm a Myanmar Kyat millionaire Going from the 'top' to the 'bottom' financially taught me some hard facts about life. I'd rather have more money than I have now, but it more than suffices.

Back to living expenses. My total monthly expenses are about 27,000 baht, but most of that (20,000 baht) goes on private medical insurance, my car payment and a little on house rent. I spend about 250 baht a day on food and drink (fruit, veg, nuts, milk, cereal etc). I could spend a lot more, but I don't NEED to spend more - I'm very happy with my life, absolutely zero stress (unlike when I was married and when I was rich..)