is it better to have been poor at one stage in your life?

[TMNT]

I've been fortunatell to be involved with people from all walks of life, be it rich, poor, criminal, successful, smart, dumb, young, old,

This is a paint everyone with the same brush type of comment, but

Do you think people who have been poor or bankrupt if they become rich truly know how to appreciate it??

I've met heaps of rich kids who were born rich with such a stinky entitled attitude, where they think life should be handed to them on a silver platter cos their daddy is rich

However I've met some filthy rich people who at one stage of their life were either poor or bankrupt and are as humble as pie

On the other hand I've met some average people who have become moderately successful and now drive a leased BMW x two kids at private schools their one 1m mansion with a huge mortgage who are arrogant as anything

On another angle, I've met some.normal people who have done well above average who think that their kids are going to starve and they should be gifted a housr and a car when they turn 18 so "I want to give my kids the best, nothing less", like as though they are incapable of living a normal life without millions to start with

Personally I think it's good to.have experienced poor or.bankruptcy, it gives you perspective on things and you make mostly better financial decisions and are more grounded

Years and years ago, I was introduced to some.girl who was filthy rich at a party, I said hello and she ignored me.because she thought I was poor, after I told her I.owned a gym, then she was all friendly and nice to me. I was truly disgusted as she thought I was a hot shot at a fairly young age. I excused myself and didn't speak to her again

Anyway,
What's everyone's thoughts, are you more grounded if you've experienced financial hardship?

 

[Peter_Tersteeg]

I wouldn't say I've ever been poor, but I have experienced cash flow shortages at several points in life. It's not something I ever want to go through again, but I also understand that it can be dealt with.

In hindsight given what's been achieved since, I think I do have a better understanding of some of the sacrifices that can be required for success, and I also appreciate better what the payoff for that sacrifice can potentially be. If I were in that situation again I'd be able to appreciate that there is a way through it if you just push through the tough times.

Bankruptcy is not something I'd suggest anyone experience, it's a devastating event. Whilst there's a lot of people who have had unfortunate events lead them there, the majority of bankrupted people have make bad decisions which left them at risk of going there. Those who learn from these mistakes often go onto bigger and better things, but they're in the minority. In truth, most I've met don't learn a thing.

 

[Bantam Roosta]

You get rich idiots that started with nothing.

You get rich idiots that were given everything.

You get average idiots that started with nothing.

You get average idiots that were given what they have.

In short, you get idiots everywhere you go, regardless of their historical financial situation.

BR

 

[datto]

Look, if you were born poor and then get rich later in life one may find it hard to let go of the hard old days. That baggage from being poor gets carried around. I've seen it happen.

 

[D.T.]

are you more grounded if you've experienced financial hardship?

I think so TMNT.

My parents were always lower-middle class, and personally I've been at a point where I couldnt put food on the table. I think that gives me a lot more perspective on the journey than if i was brought up in a bmw with a silver spoon.

This has also heavily impacted both my political and religious beliefs.

 

[WattleIdo]

It's certainly better for you that you're not as poor as you used to be!

Or is it ...?


...but seriously,

more grounded

yeah, probably agree with this. When you know there's nothing to fall back on, you tend to be more realistic. And if you stuff up, you know that you can persevere and your life is still better by far than it was before.

Not saying that this is better but it's an advantage. The rich ones have the advantage of a lifetime of observation and experience and others to fall back on...

 

[TMNT]

yeah agree with most of hte points here,

my parents were mid class, the most expensive car we drove was a corolla, we went overseas every 2-3 years,

did we do anything extravagant, id say no,

did we have food on the table? always

Did I wear expensive Nikes, reeboks? never, only got one pair on my birthday

I went to a private school, however, got told to change schools in late high school as fees were hitting $14k per year, and because my twin brother wanted to go to a private school, so I dropped out and made way for him.

That being said not that I am rich, but I think im very grounded in that respect,

if I won lotto, and lived like a king, and lost it all somehow, I could easily go back to a frugal lifestyle without slitting my wrists

 

[WattleIdo]

No offence but doesn't really sound like you were poor.

Sounds like your parents chose to do things like OS trips and private schools and nice birthday presents instead of showing off. That's just plain sensible.

First time I went overseas was to live and go to school in PNG so my Dad could rent the house and get out of serious debt - which he then re-entered later several times.

Immigrants are the best savers. Born adn bred in Australia just doesn't compare- and we can't really claim 'poor' either.

 

[moridog]

I've had times where I struggled to pay the bills, used my sickies on night shift because I could not pay the babysitter, put petrol in the car to get to work, or both. You never forget.
I make sure that any dollar coming in now does the work of at least 2 or 3, I love scoping out bargains and don't think if I came into money I would change my lifestyle too much, maybe less hours at work.
Personally, I think poverty was of benefit to me, now, I didn't think so then! I work with a bunch of very, very, well paid people, I am not one of them. On occasion I point out the financial implications of things they have recommended, or ordered, and they are genuinely taken aback at the cost of this or that. And the financial impost of some of their recommendations.
I do think if you have no experience in living if not in poverty, then in constrained circumstance, it can be pretty hard to understand the experience of people who have no choice.

 

[redwing]

is it better to have been poor at one stage in your life?

Yes

As it means that stage has now passed

 

[TMNT]

No offence but doesn't really sound like you were poor.

Sounds like your parents chose to do things like OS trips and private schools and nice birthday presents instead of showing off. That's just plain sensible.

First time I went overseas was to live and go to school in PNG so my Dad could rent the house and get out of serious debt - which he then re-entered later several times.

Immigrants are the best savers. Born adn bred in Australia just doesn't compare- and we can't really claim 'poor' either.

Hell no were we poor, we always had food on the table, we could always pay our bills, I.never claimed I was poor

Poor to me would mean not being able to eat or heat thebhouse or have a warm shower

 

[skater]

Look, if you were born poor and then get rich later in life one may find it hard to let go of the hard old days. That baggage from being poor gets carried around. I've seen it happen.

Is it baggage, or common sense, or just the way you are wired?

We had a very rough time, just over 20 years ago. You know the time, 17.5% interest rates, new mortgage, hubby gets retrenched.

My God! We struggled to put food on the table! We ate baked beans and rice for two years! Not one cent went to waste & we did whatever we could, just to get the bills paid, which included any part-time or casual work we could find, which saw us through, just!

So.....I'm not sure if the me I am today, is the same me that I would have been without that experience. What I'm trying to say is, "did that experience change me?".

I admit I'm a bit of a tightwad, I hate spending money, just for the sake of spending money, but funnily enough I never was where sport was concerned. So, maybe it was the tightwad in me that got us through that time and didn't develop because of it, if you know what I mean.

I mean, we could have taken the easy road. Sell, live on benefits, etc. We had friends who had heaps more than us that were in that position, but that didn't sit well with either of us. And you know what, when we moved from the area, those same people on benefits were still on benefits, while we were now miles ahead.

And when I look back on my youth, my parents ensured that I learnt how to handle money. I got more pocket money than all of my friends, but I had to budget and buy ALL of my clothes and activities out of this, including my skating. I remember saving ALL my wage from my part time job (one half day a week) to save for some skates. So, I was well prepared when push came to shove & we fell on hard times.

I think so TMNT.

My parents were always lower-middle class, and personally I've been at a point where I couldnt put food on the table. I think that gives me a lot more perspective on the journey than if i was brought up in a bmw with a silver spoon.

I prefer the word perspective than baggage.

You can see why some people just can't get ahead, despite having a large income. Sometimes it's like others don't know what the priorities are. You know, have a nice meal in a restaurant, or pay the rent? You can't do both, which do you choose? And you see it happening all around you, & you just shake your head.

If you've had the silver spoon treatment, and now you're not earning much, it's a bitter pill to swallow when you finally realise that you need to budget to get ahead.

 

[TMNT]

Is it baggage, or common sense, or just the way you are wired?

.

I think its a bit of both, probably more baggage if I had to choose.

When I go to a restaurant. the first thing I look at is the prices, then I look at the cheapest items to see if anything tickles my fancy, if I see two things I wouldnt mind, I work out is the price difference worth it.

I usually dont order dessert because Im not a big sweets fan but im very wary that ordering desert and coffee will add another $20 odd to my bill

Ill never order multiple drinks because I can drink at home/friends place for 1/4 of the price.


yes im a tight a$$ and I HATE myself for it, maybe had i been born rich I would simply eat what I wanted to and not really take much notice of price

 

[datto]

You're a tight wad! lol, so am I, lol. I go to both woolies and coles and look at all the flagged cheapies to see if I need them. I guess it is baggage afterall. But I wouldn't recommend being poor to anyone.

When you think about it, it's like asking someone if they like being sick and then recovering. I don't like the school of hard knocks.

 

[skater]

I think its a bit of both, probably more baggage if I had to choose.

I'm not sure, some of your comments are a little strange, I think.

When I go to a restaurant. the first thing I look at is the prices, then I look at the cheapest items to see if anything tickles my fancy, if I see two things I wouldnt mind, I work out is the price difference worth it.

A REAL tightwad wouldn't go to a restaurant in the first place. Too expensive! But on the occasions when kind of forced to do it, then yes, I can understand. I USED to do the same, or just order whatever was the cheapest. But that was a long time ago. Now, I order what I want, and am happy to go to restaurants more often.

I usually dont order dessert because Im not a big sweets fan but im very wary that ordering desert and coffee will add another $20 odd to my bill

I often won't order desert either, but it isn't usually price motivation, more me trying to behave myself.

Ill never order multiple drinks because I can drink at home/friends place for 1/4 of the price.

Well, drinks ARE expensive. I don't order drinks often either, but I'm not a drinker. I'm just as happy with a soft drink or even water. The older I get, the less I enjoy having a drink. I've come to realise that I drink in social situations simply because it's the done thing to do, and since I don't really like the taste of alcohol, I find that I'm saying NO a lot more often, but this is not price motivated.

yes im a tight a$$ and I HATE myself for it, maybe had i been born rich I would simply eat what I wanted to and not really take much notice of price

And maybe you'd be so busy spending everything you earn, that you wouldn't prioritise putting something away, so you'd be in a bad way (financially) when you are older.

 

[skater]

I don't like the school of hard knocks.

But it is what's made you, you, so embrace it.

 

[macca446]

What is poor having no money or little I think not it is not having someone or loved ones in your life to share the journey.

Macca446

 

[datto]

But it is what's made you, you, so embrace it.

yeah I suppose. (sticking chin out - just whack the pointy end please...arrghh!)

 

[jackbak]

I've never been rich or poor, well not by my definition anyway, so can't give a first hand account but I certainly don't think you need to be poor to appreciate money. You just need to be sensible and level headed. I definitely appreciate what I have and the hard work I put in to get it because my parents always taught me to be grateful for what I have and not to waste money.

As you pointed out in your initial post, their are rich idiots and poor idiots, I think money has very little to do with it.

 

[Blacky]

I think its a bit of both, probably more baggage if I had to choose.

When I go to a restaurant. the first thing I look at is the prices, then I look at the cheapest items to see if anything tickles my fancy, if I see two things I wouldnt mind, I work out is the price difference worth it.

I usually dont order dessert because Im not a big sweets fan but im very wary that ordering desert and coffee will add another $20 odd to my bill

Ill never order multiple drinks because I can drink at home/friends place for 1/4 of the price.


yes im a tight a$$ and I HATE myself for it, maybe had i been born rich I would simply eat what I wanted to and not really take much notice of price

As others have said - there are idiots at every end of the scale. On the other hand some of the best people in the world are financialy well off.
Im not sure that there is a direct correlation between finanical wealth and personallity.

Slightly off topic but...
I firmly believe that when most people look to save money - they look in entirely the wrong direction.
As Skater said - if you want to save $20 - you dont go to a resturant in the first place.
Looking at the price difference of a meal? youre just kidding yourself.

How many people do you know who will 'shop around' for their fuel price, but 9/10 buy a drink/snack while in the store.
Or alternatively shop at coles/woolies to get a 4c discount at the bowser. Its a joke. Do the real maths. If 4c/l makes any difference to your weekly budget you are running a very fine line. Want to save that much? dont take your car to work 1day/week. Youll save a lot more than 4c/l.

I renonowned amongst my friends for spending a lot of money. I can blow a couple of hundred dollars in an evening without battering an eyelid. Yet strangely, I dont actually spend very much money at all. How? because I focus what I save money on, and what, in the scheme of things, doesnt make didly squat difference.

Blacky