Prius Owners Income

Would be helpful to couple household income with level of education, geographic location, occupation and other factors. While difficult to quantify, I see owning a Prius as a major factor under the category of Quality of Life.

 

The questions are contradictory which is probably skewing the results. The title states "Household income" while the question is about individual income. I responded to the question, our household income is more than double.

 

Good point on the household/individual thing! In my personal case, the difference is infinite right now!

That said, I still couldn't count the zeros right, so the results are screwed up because of me.

 

Wealth
The means to material well-being in the world. To be wealthy is to be able to purchase things that money can buy. Wealth can provide us with security, pleasure, health care, education, and a certain degree of political power.
Wealth is desired as a means to the things it can buy and is therefore less desirable than those things themselves.

Prosperity
Being well-off in this world, materially and spiritually. To prosper is to have in an orderly and vital balance the good aspects of life: material posessions, security, health, knowledge, friends, family, work, virtue.
Prosperity is desired for its own sake and is therefore more ultimate than wealth, which is desired for the sake of what it can buy.
Key aspects of prosperity cannot be bought.

From "The One Minute Philosopher" by Brown.

 

CPI tables, Jan 18, 2006:

http://oregonstate.edu/Dept/pol_sci/fac/sahr/cv2005.pdf

reveal that $1 million in 1955 = $7,300,000 in 2005!

Reverse the numbers a $137,000 in '55 would buy the same goods/svcs as $1 mill in 2005!

Put another way, in 1962 my wife and small child and I lived on a salary of $163 (after tax) per month. Not well, mind you, but we lived! Fortunately housing was a prepaid benefit. In today's dollars that would be $1045/mo., or $12,452 per yr.

It's all a matter of perspective.

 

that not looking like a millionaire reminded me of a podcast of the Bob Rivers Show the monday after the Seahawks won the NFC Championship. a sportswriter was in the booth next to where Paul Allen and Bill Gates were so he had a pretty good view of them. Allen never dresses up so he was just wearing jeans and a sweatshirt.

the sportswriter noticing the two men's not perfectly white teeth, commented, "considering that they are two of the richest men in the world, you think they could afford better dental care"

 

Income means nothing if your expenses are high. Some folks live on paycheck to paycheck no matter what their income might be.

A better measure might be total worth.

My net worth was in the red for seven years after living abroad on my savings. It was life-altering fun and I wouldn't give up the experiences for the world but at times my nails were nibbled down to nubs.

 

I agree with TonyPSchaefer except for one thing, I prefer Quicken over Microsoft Money. "Millionaire Next Door" was an epiphany for me. My favorite thing to do with my finances is peck away at operating expenses using a capital investment. What do you know? Prius fits the bill. Also switched my wife from Sprint to T-Mobile pre-paid. Called the city and got a reduced size trash can. Saved $4 a month. DO ANYTHING to avoid carrying a credit card balance. Maximize your 401k, Roths and IRA's. Learn that expensive things aren't investments unless you stand to pull a profit (don't INVEST in a home theater. Unless you charge admission). I asked my boss if he would pay for my Cable Modem. He said, no problem, standard policy, saves $53 per month. Sign up for direct deposit of your paycheck and direct withdraw of your bills. No more late fees!

Also, I like Suze Orman. Some folks don't, but I do. (Most agree her advice is sound, except of course, for her endorsement of GM a few months back). She recommends that everyone tear up a dollar bill and throw it in the trash. The emotion you will feel is bizarre! It will change your attitude towards money. She says you should feel the same every time you spend a dollar as when you tear it up. To you it's still gone. You'll think twice about buying a bottle of water when your standing next to a faucet with free cups.

All of the philosophies apply no matter what your income level. Trust me, rich people know the value of every penny.
-Run your household at a profit
-Reduce your debt
-Reduce your tax liability
-Reduce your expenses
-Avoid consumerism and materialism, but don't be afraid to pay for quality.
-Try like heck to avoid paying retail (everything's negotiable! Everything!)
-Increase your income (that's right! Go get a better job!)
-Respect money. It will respect you.

Nate

 

*boot*