We live by the 80/10/10 rule...Live on 80% of your take home pay, save 10% of your take home pay, give away 10% of your take home pay. (In reality we live closer to 60/20/20) We also pay cash for everything we buy. Seldom buy very many brand new items, let the original purchaser take the hit on deprecation.

We own our house(s), acreage and vehicles free and clear. We don't live like hermits, but don't run out and buy the latest and the greatest just because it was advertised on the idiot box. Before spending money on big ticket items we research and find out what is the most durable, repairable and best value prior to spending the money.
Aaron