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Vice

Discussion in 'Investor Psychology' started by hammer, 4th Jul, 2016.

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  1. hammer

    hammer Well-Known Member

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    Went to a mate's house last night.
    He and his partner had just finished a 14 hour shift at their business.
    His partner had gotten smashed the night before, arrived 4 hours late, left early and was letting my mate do all the dinner prep whilst polishing off a second bottle. My mate was exhausted, and clearly stressed.

    They haven't got enough money to do anything....no holidays, no repairs....nothing. Stuck.

    They have a huge mortgage on a house that's worth 25% less than what they paid for it and its all a disaster.

    I was talking to my wife on the way home and she said my mate's partner was spending $400 a week on wine and ciggies...while they barely has enough money to eat.

    It then got me thinking to my own family who all sit around over a bottle of wine talking wonderful yarns.....but never achieving anything because their sitting around having too many wonderful yarns over bottles of wine......

    It got me thinking about Vice....in this case alcohol....but it could be anything (coffee, TV, crackbook, crack, sugar, ...whatever). most of us have one or four...so..how have you managed it/avoided it/embraced it...and how has it affected your wealth so far?

    Have you seen it doing bad things to your friends and family? If so have you managed to change their behavior at all?

    No need to say what the vice is BTW...I just think Vice is something worthy of discussion as it is often overlooked in our strategies despite it affecting the outcome greatly.
     
    Last edited: 4th Jul, 2016
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  2. EN710

    EN710 Well-Known Member

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    My vice is coffee. If you combine the amount of money I spend, yes, it would have affected my savings. That said, I didn't drink coffee until I could actually afford it (and now addicted, can't go back to low paying job!). I make my own lunches when I can, easier than stopping coffee.
    I don't drink alcohol ;)

    Family - gambling and smoking. No, dealing with a close family who have these addictions taught me that you can't change them if they don't want to.
     
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  3. Leo2413

    Leo2413 Well-Known Member Premium Member

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    For us we have always believed that if our reasons for wanting to create wealth are strong enough then no vice will get in our way. We don't smoke or gamble, have the odd beer every couple of months. Over the years there just hasn't been any other strong desire for something else other than to just keep on the same path and build wealth so we can achieve our dreams. Maybe that fire will burn out one day, don't know.. but it hasn't yet.
     
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  4. EN710

    EN710 Well-Known Member

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    Your vice might be building wealth @Leo2413 :p

    When I'm bored I have bad habit of looking for trouble, like "maybe I should buy another property" or "maybe I should paint the IP wall myself" ... Usually ended up with "what were I thinking"
     
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  5. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I enjoy good wines and bourbons... but decided spending $100pm on them wasnt good for my wallet or my liver so cut it right back :)
     
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  6. Leo2413

    Leo2413 Well-Known Member Premium Member

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    You're probably right! :oops:

    Should be bored more often then :p
     
  7. EN710

    EN710 Well-Known Member

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    I only started coffee when I can afford it.... Don't have that capability with playing houses yet! One day maybe :)
     
  8. EN710

    EN710 Well-Known Member

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    That's my coffee per month, probably a bit more :oops: apart from the alcohol I don't see an issue :D
     
  9. MTR

    MTR Well-Known Member Premium Member

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    Am I the only one that breaks the rules...drug, sex and rock in roll:p:p
     
  10. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Write the book, I'd buy it! :D


    I'm with you on coffee.:). it's our morning joy...we travel 6km from our home to this place that does aaaamazing coffee !
     
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  11. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    I enjoy good coffee too, one of my clients is a roaster and their beans are superb
     
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  12. DaveM

    DaveM Adelaide Buyers Agent & KFC Strategist Business Member

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    Careful that could damage your teeth
     
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  13. EN710

    EN710 Well-Known Member

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    Rock in roll is not a type of dancing?
     
  14. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Rock 'n' Roll :)
     
  15. joel

    joel Well-Known Member

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    Alcohol
    Women
    Money
    Power

    Rich women with powerful alcohol

    Also coffee, because I'm not a morning person, or an afternoon person
     
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  16. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

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    I am not so happy I paid $8 for a glass of wine at my RSL tonight... It didn't even taste good... it was supposed to be moscato but I am highly dubious.

    Other than that I try not to drink coffee, it affects me badly.
     
  17. wategos

    wategos Well-Known Member

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    Coffee or occasional drinking are not vices.
    Most people with a real vice wouldn't be publishing it here (eg gambling, prostitutes, adultery, heavy drinking, illegal drugs).
    I have certainly seen alcohol kill a few friends and close relatives, but I also know a few that were able to escape it.
     
    Last edited: 11th Jul, 2016
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  18. Scott No Mates

    Scott No Mates Well-Known Member

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    [​IMG]

    My favourite vice.
     
    Last edited: 11th Jul, 2016
  19. Bayview

    Bayview Well-Known Member

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    Anyone who lives and/or works in any "blue collar" suburb will see hundreds of examples of this every single day..

    Not so much an excess of wine and ciggies; a total life of bad choices combined with not enough income - on rubbish such as their cars, tattoos, ciggies and grog of course, gambling...the list is endless.

    And they invariably hate and/or resent the Boss, the Gubb....the rich. :rolleyes:

    My vice is wine, and chocolate...daily. :p
     
  20. Greyghost

    Greyghost Well-Known Member

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    I'm lucky as my boss bought a 5k coffee machine for the office.. If we fail in business we can always sell coffee now haha
     
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