Is being frugal hazadous to your Finance career?
I'm the kind of person who doesn't like to spend more money than necessary in life even if I can easily afford it. For example, although I can easily afford a new car by now, I still drive the old Honda Civic given to me in High School back in the 1990s. I don't have many possessions at home other than a bed, chair, computer, desks, and drawers. I don't even own a TV since I have little time to watch it. I'm so busy with my job that I don't have much time to spend at home.. and any extended free time I'd rather spend away from home. I'd much rather spend the hard-earned money from my Finance career invested for the long term, with a small portion siphoned off to have fun in the present. I could care less to spend my hard earned cash on toys to show off. The only exception is spending more on my wardrobe.. but that's a lot less pricy than upgrading my beater Honda to a new BMW.
Would my "could care less about showing off" type of attitude hurt my Finance/I-banking career in the long run?
no
See "Truth About Money" thread.
No
If you ask IP, you're a living saint and a genius among cavemen.
@OP im the same way....is living a flash lifestyle really worth it? i dont think so. I have a bunch of friends that live like that, and they always make fun of me for living so modest. I dont have the heart to tell them that in the LR, joke will be on them :)
Go splurge and buy something nice, then see how you feel afterward.
Been there, done that.. felt a lot better but only temporarily.. didn't feel much better in the long term.
The feeling of being able to rely on your investments/savings if you lose your job is infinitely better..
That's a long story
No; but once you start meeting clients you may want to upgrade the car ;)
Good idea.. can I deduct it as a business expense?
Look at Warren Buffett....Still lives in the house he bought in the 60s and still drives an American Caddy. The most successful financier of the modern era, yet probably the most frugal one.
x
no. I think the term is 'value guy' :)
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