[Kunama]

Originally Posted by tlgerdes

I see the problem differently, I have so many colleagues that are complaining about the price of housing, but what have they been doing for the last 15 years? Having their 2 lattes a day, having sunday breakfast at the local coffee shop, maybe smoking 2 packs of cigarettes per week, going out on a Friday night spending $300 on dinner and alcohol, buying the latest iPhone every year and then complaining that they cant afford a deposit on the $1mil house and that it is the investors/Chinese buyers fault as they are driving up the market price.

So what was the investor doing all this time, drinking the office instant coffee, giving up smoking, making do with the phone that work supplies and having a quite Friday night at home (or going out to dinner at the local RSL club for $25).

It is what you do with you money that counts more and working out the priorities in your life.

My wife and I had saved $80k together, before we got married (at 25yo each), while we were living a home with our parents, we saved another $60k in the following year by sacrificing all luxury, we then bought an "expensive" apartment for $300k (1996). We have just moved into our $1.5m house 3 years ago. We have never had a mortgage of greater than $200k, we placed a priority on what we value.

We also have investment properties that are negatively geared, BTW they aren't flash, on contrary, they are the cheapest rental properties in Burwood NSW. We have goals for early retirement and they are part of they or our plan.

We sacrifice things to put our kids to good schools. Our kids don't miss out on anything.

We just don't live an extravagant lifestyle, will go out once a month to the local club for dinner for $60 for the family. We entertain at home a lot with friends and family (everyone bring a plate of food). We drink $10 wine rather than $30 wine. If I go to pub with friends I buy myself a beer, rather than shout the crowd. We have 8 year old cars. We buy a new car every 10 years, rather than every 3-5 years. I wear $40 sunglasses instead of $300 ones.

I have a fantastic life and couldn't want for more. It is all about priorities.

+1