Who is more loose with their money?

[Blue_boost]

Who is more loose with their money? The rich person or the renter?

The rich person buys stuff they don’t really need, lots of spare money so they waste money on a $50,000 watch instead of a $100 watch or spends $400,000 on a car instead of a car worth $35,000? Flying first class instead of economy. Are they too loose with their money buying stuff you dont really need?

Or is the renter more loose with their money? Spending money on rent and accumulating
No wealth in return? Signing up to bad credit with super sized interest rates giving away money.. or the money they spend on smokes, tattoos and beer.? Plus they waste money on unnecessary car parts, big exhausts etc.

Who is more loose with their money?

Perhaps renters are more loose spending a higher proportion of their income on waste? But rich people wasting more in absolute terms?

 

[Wahesh]

Rich people spend within their means generally speaking.

 

[Blue_boost]

Rich people spend within their means generally speaking.

Thats true, what might be wasteful, indulgent, if its also affordable then its not really being loose.

I am getting tired of these renters advocates out there trying to give advice to renters, to squat in empty homes.

IF someone wants to leave their home empty then so be it, its their house.

 

[King Gus]

What do you call rich?
Someone that makes millions a year or
Someone that make $500k a year or
Someone that makes $100k a year.
To me I can be any of them and invest and be well off and can still rent.

 

[Blue_boost]

What do you call rich?
Someone that makes millions a year or
Someone that make $500k a year or
Someone that makes $100k a year.
To me I can be any of them and invest and be well off and can still rent.

I dunno too many people that make millions each year that rent.

Maybe short term roles moving away from home but rare like tits on a bull

 

[King Gus]

I dunno too many people that make millions each year that rent.

Maybe short term roles moving away from home but rare like tits on a bull

Plenty rich people rent, it’s just easier for them to move from place to place.

 

[BlackJackBulldog]

Plenty rich people rent, it’s just either for them to move from place to place.

Can be a handy tax write off too

 

[King Gus]

Can be a handy tax write off too

Exactly

 

[Memberberries]

Home owner or renter?
When your eulogy is taking place at your funeral.
It won't be mentioned if you were a home owner or a renter!

 

[Wahesh]

Plenty rich people rent, it’s just easier for them to move from place to place.

Moving is a headache, a BIG headache. I know a chick who moved homes 12 times in 10 years. She just wanted to find a permanent home and live there. Problem is she couldn't afford it because she wasted all her money on renting by the sea.

 

[Wahesh]

Thats true, what might be wasteful, indulgent, if its also affordable then its not really being loose.

I am getting tired of these renters advocates out there trying to give advice to renters, to squat in empty homes.

IF someone wants to leave their home empty then so be it, its their house.

Exactly, this isn't France. Squatters here don't have any rights.

 

[Wahesh]

What do you call rich?
Someone that makes millions a year or
Someone that make $500k a year or
Someone that makes $100k a year.
To me I can be any of them and invest and be well off and can still rent.

He's talking in general. Generally, rich people don't rent.

 

[King Gus]

He's talking in general. Generally, rich people don't rent.

Fair enough I know a few clients of mine that live on the water and rent and they have a few places they rent .

 

[Blue_boost]

Can be a handy tax write off too

How so… personal rent isnt a tax deduction.

 

[Blue_boost]

Fair enough I know a few clients of mine that live on the water and rent and they have a few places they rent .

So they can’t really afford to live on the water so they rent? Sound rich to me

 

[BlackJackBulldog]

How so… personal rent isnt a tax deduction.

Just because it is used personally in reality, doesn't mean it is not a business expense on paper.

Spending money on a good accountant opens up a world of opportunities.

Too add to your themes of discussion;
Do poor people use an accountant?

 

[CrittaMagic69]

@Blue_boost do your tenants tip you?

 

[Psycho Doggie]

Could it be that people who make the decision to rent are just losers generally, and that their poor use of money is just correlational with the fact they rent?

 

[Wahesh]

Fair enough I know a few clients of mine that live on the water and rent and they have a few places they rent .

Generally speaking, renters are not big money earners. Yes you get the occasional big company executives and former Prime Ministers (Paul Keating for example) who rent a luxury high-rise apartments, but that is not generally speaking.

 

[King Gus]

So they can’t really afford to live on the water so they rent? Sound rich to me

???? They rent cause they are happy moving around where it’s closer for them to do business.