It seems that we Americans spend our money very foolishly. We spend insane amount of money on our car, for example, let us say a $30,000, $40,000, $50,000, $60,000, $70,000, $80,000, $100,000, $250,000 dollar car.
Let us say that a day pass at the gym is $20, this seems like a lot, but, that is 1,500 visits to the gym… the same price for $30,000… nowadays a “standard” car. That is 4 years straight, every single day, 365 days a year. Arguably going to the gym every single day, even assuming that you were spending $600 a month for a gym membership or multiple gym memberships, seems to be a better investment for your happiness and your well-being.
Even spending money on meat. We tend to think that meat is expensive, especially beef and lamb. However once again that is not the case. And assuming that you don’t spend more than $2500 on your car, you should have very very plush funds to experiment with.
Taking this even further, how much money we spend on homes, in California, whether Norcal or SoCal, it looks like a cheap house is $800,000, $900,000, or under the $1 million mark. Then after that, $1.1 million $1.2 million and $1.3 million.
Is the point of your life to simply pay off a mortgage? And even assuming that you paid off the mortgage in full, or even if you bought the house in 100% cash, property taxes can still range in the $1500 a month to $2000 a month range, that’s a lot. Even more than rent in some places. Let us not forget that when you’re in a home, random shit breaks, repairing a roof, replacing your water heater, fixing your toilet etc.