PowerSwitch

Am I on the right path? That is the question that has been bugging me for the last six years, as I see my friends and family living the lives of kings while I am living, or should I say surviving on my wages. I cannot help thinking that I am missing out because I have not got into a whole lot of debt. Everyone I know has got fancy cars, nice houses, fancy clothes etc and then there is me with my run down car, rented accommodation, and no sense of fashion!
I have been saying for years that things will change but they never have and I just don?t know what to do. I know it is stupid of me to think like this, but I cannot help it especially when I know that they earn no more than me and it is all paid for by credit, loans etc. Should I just go mad and rack up the debt, buy my own place and have a good time? Or should I continue living within my means and get looked at funny every time I open my mouth? What should I do? I am just getting so tired of fighting all the time, being the only one who thinks like this has made me into a bit of a pariah and I am sick of it. I feel like I am going the wrong way around the M25 and everyone is beeping their horns trying to get me to turn around. How much longer can I go against the flow of traffic? It would be just my luck that things will change and all these people in debt will walk away without paying and little old me will of lost out on the biggest party of all time!

So what do you think should I just live for today and pay by credit card and have the house, car, clothes etc? Or carry on as I have been living within my means and being sunned from society?

It can feel lonely swimming against the tide especially when it would appear that everyone else is swimming with it and doing very well thank you. You are right, the tide will turn but I suspect it will give you no satisfaction. If you feel that you are missing out on the biggest party of all time it's time to make a change! (you don't actually have to get massively into debt to enjoy life)

Listen to your thoughts -then act upon them.

Koba, I can't really advise you other than to say I wish I had lived within my means and didn't have the bank loans and credit card debt that I have. It is a heavy weight around my neck that I feel I am fighting all the time. I guess we are just having different struggles.....

Interesting post.
If I understand you correctly, your friends and family does not earn more than you but yet consume much more. And if that is the case, you should have more money available after expenses are paid, especially as you don't have much debt. If that is not the case and you barely get by, then your friends and family who consume based on debt simply must run into big problems sooner or later.

I think the smartest thing one can do is to pay off debt. In the past I have been economically irresponsible and aqired a lot of consumer debt. After coming to my senses a few years ago, I have paid a lot down on it and feel a little bit more free as each loan is paid down. If one is debt free, one are able to use more on for example traveling while it's still affordable. Do you travel?

I think it's important to be very conscious on the matter of not letting other people's behaviours decide what one does. Like when I last month made the last payment on our car and people then asked me what new car I was going to buy. With credit of course. Now way am I going to buy a new car, at least not while my old one works perfectly fine.

When looking around I can see many who have large beautiful houses, cottages, cars, boats and so on. Some make good money from their jobs but I can't help feeling that just a small interest hike will put lots of people in big problems. Why add this stress when consumption like buying things often only bring a short-lived joy?

So yes, I think you are on the right path and are doing the most sensible thing with your economy.

I've been studiously avoiding debt since about 2001, and particularly since 2003 when the PO scenario seemed to start playing out.

This means that I don't have quite such a big appartment/house as many of my colleagues, however when the heating bills come in, I'm sitting pretty. I'm also fortunate that my partner is very minimalist, so I'm not under continual moral pressure from that angle.

When I started telling people about the coming problems in 2004 (oil at $34), people would ask "when will this happen?". I would tell them that if oil prices had not doubled by 2008, then I'd accept that I was wrong. In fact it doubled during the following year.

Having followed recent geopolitics, I'm convinced that we are now at-or- near the world energy peak, and that the distribution of wealth will change radically in the next generation. There are already strong hints that interest rates will continue to rise, the stock markets seem to have started a downward trend, while oil prices remain robust.

I think that 2007/8 may be the time frame by which the impacts are so obvious that general panic sets in. Just hang in there.

You are doing the right thing. Staying out of debt is about the single best thing you can do in advance of a worldwide energy shortage. Your friends could be in a terrible position if they have substantial debts to pay off in a shrinking economy. It may feel like you're missing out on the party, but believe me, they will be nursing bad hangovers in the morning.

As Pippa said, there are others ways enjoying life than saddling yourself with debt. Some of us are taking the path of deliberately living at, or below, our means. Resist the siren call of consumerism and you'll thank yourself later.

PhilSage wrote:When I started telling people about the coming problems in 2004 (oil at $34), people would ask "when will this happen?". I would tell them that if oil prices had not doubled by 2008, then I'd accept that I was wrong. In fact it doubled during the following year.

Have you followed-up your oil price prediction with those people? You'll have extra credibility and they might listen more attentively to what you've got to say. Get them thinking more about PO.

Koba wrote:no sense of fashion.....saying for years that things will change.......get looked at funny every time I open my mouth...........carry on as I have been living within my means and being shunned from society?

Hiya. From the excerpts the following points spring to mind....

1) Being aware of environmental or resource issues doesn't mean you have to follow the "green image" that such "aware" people bestow.

2) Don't say that things will change, say they might or probably will.

3) There's usually a right way to be right. The point is to avoid discussing the issue with those who aren't interested, or just drop subtle hints. Be right and be quiet.

4) Definitely carry on, don't necessarily be "hardcore" and be too hard on yourself. Don't feel guilty every time you use a car or catch a train or go on holiday somewhere. Keep Jevon's Paradox in mind. We are in a transitional time which means you need to present "two faces", one which interfaces with mainstream society, the other which interfaces with "aware" people. Turning your back on society, making yourself outcast, doesn't help the big picture. Keep a foot in both camps, so to speak.

5) Perhaps post on here a bit more often, get things off your chest

caspian wrote:

PhilSage wrote:When I started telling people about the coming problems in 2004 (oil at $34), people would ask "when will this happen?". I would tell them that if oil prices had not doubled by 2008, then I'd accept that I was wrong. In fact it doubled during the following year.

Have you followed-up your oil price prediction with those people? You'll have extra credibility and they might listen more attentively to what you've got to say. Get them thinking more about PO.

Depends who. Some seem to get it, but even then the attitude is mainly "what will be will be".