You gotta plan ahead. And live long enough to spend the money you save.
I bought my home in 1980 for $41k. The mortgage payment took 75 cents less than half of my monthly takehome. I got my ex-girlfriend to sign off on the mortgage application in order to qualify - she knew I'd make the payments and figured as a starving artist on the west coast she could use the credit reference.
The house was built in 1916 and had been mistreated for at least 10 years. For the last 2 years of the 10 the heat had been off. Of course, with 14-inch brick walls, slate roof and heart pine floors not much real damage was done by the neglect. Now it's assessed at $207k and I haven't had a house payment for years. Of course, it's only 1350 sq. ft. not counting the basement or the three porches and the lot is only 25.5' x 90', but location means a lot, the neighbors at great and I live around the corner from work. If I'd break down and invest in central air and some other things I'd be paying our silly real estate taxes on $270k or so. Nope, I like high ceilings, fans and lazy summer days.
I drove a 4wd '86 Subaru wagon for 14 years until the all of the beach driving rusted it out and then I bought a fancy Forester with a sunroof - both for cash. Could I have afforded a more expensive car? Sure, but I don't make that much after 30 years as a low-level state employee with an M.S. in counseling.
I have one credit card that I'll use if I have to, but I was raised on cash. (I've always liked the suggestion to put your one credit card in a bowl of water in the freezer, but I've never done it. It would prevent impulse purchases though, wouldn't it?)
I often wonder what I've have if I'd skipped the vacations and limited my social life a tad. I guess I'll never know.
I am looking for somebody to teach me how to play poker.
It's either that or I'm going to have to get off the www and get a part-time job.
John