hide

Read Next

How to Be Frugal And Live a Good Life

I think that the way most people spend money is absolutely nuts. I see people buying things they can't really afford, or things that will have no lasting impact on their lives whatsoever, and I cringe. Be frugal, I want to yell.

On the other hand, there are people who go way out of their way to save a dollar, even When spending that dollar would really make their life better, or create some lasting memory that would impact them long after the dollar was gone. Don't be cheap, be frugal, I want to yell.

Maybe a better phrase for frugal, at least the way I think of it, is financially-efficient. And just like most mistakes I see people make, this one stems from not actually thinking about decisions and just going with the flow.

Money should only be spent if you have it, first of all. Just because everyone else has a car doesn't mean that you are somehow entitled to one, too. If you don't have money for a car, don't buy one. Never finance anything, with the possible exception of a house. Even then, I think it's usually a bad idea.

Should you drop out of college to hang out and play XBox?

On SEBASTIAN MARSHALL

Yes!

Wait. Maybe not. Let's think this through.

I just got an email from a reader. It's a variety I get a lot. It goes like this:

"I'm doing X-practical-thing, but I'm passionate about Y. I don't like that X takes up so much of my time. But... it's practical. WTF?"

It could be "college," but it could also be a stable salaried job or whatever. Actually, this particular email wasn't about college, it was about a really well compensated salaried job that wasn't the person's passion.

Rendering New Theme...