Are you frugal - Page 6

ALRATIBA · ‎07-15-2016

I'm frugal about everything! We were raised to live below our means. So - it's just a way of life.

I worked until I was 68 to be sure my SS / retirement / savings would keep me comfortable in retirement.

ccassaday · ‎10-21-2010

@CelticCrafter wrote:
@ccassaday wrote:
@happycat wrote:
@WaJa61 wrote:
Growing up my parents had to be frugal ~ times were very tough, so I learned to be fiscally conservative. My family now complains that I'm too frugal for myself, while not at all with buying for them and others. I can see how it would annoy them over the years, and they now gift me with expensive items they know I’d love or need but refuse to buy for myself. So this is counter-productive, as well as silly. I certainly don’t want them feeling as though they need to do that. I'm not even retired yet! Make a nice salary and my husband owns his own business. Our home is paid for ~ I don’t need to work, just love my job.

We don’t buy cheap when it comes to vehicles, farming equipment, household appliances, furnishings, etc., because that's not practical. They don’t hold up. I'm talking about personal items like fashion, cosmetics, hair stylists, day spa treatments, perfumes, jewelry and such. I skimp on these things ~ usually trim my own hair and do my manicures and pedicures.

I'm going to work on this and since I'm slowly getting better with delegating, I think I'll finally hire someone to help clean the house as @Newgate has. I've always doubted that someone else could do it to my picky standards, but I need to get over myself! Free up more time to enjoy my family, friends, travel... and even some shopping and pampering. We can’t take it with us and our children’s and grandchildren's inheritance is already set up, as well as our burial plans.

I won't go crazy, though! I've seen first hand how healthcare costs can completely drain family resources. We never know what awaits us in this regard.

Also have a set amount that I donate to my church and other charities. Big believer in the first fruits go in obedience to my Lord's instructions. 💜

OH, I so agree with not buying cheap when it comes to vehicles, farm equipment, and other things. It absolutely does not pay. I say that, and I realize in my previous post I did gush over my 2nd hand chair. But, my dd bought a couch a few years ago, and it was cheap. And it is falling apart. I do think in a lot of cases you get what you pay for. Unfortunately.
I disagree with this a little. My dad has always bought a older car. But he paid cash and kept if a while. Sure he has put some money into it. But thats ok because he paid cash. One od the things ramsey teaches is only buy a car for cash. The only people sho should be buying new cars are multi millionaires who buy with cash. Eventuly you keep working up your car fund to be able to buy a 15k car with cash. You dont hsve to spend a fortune on a car to get a reliable one. Of course if you get a loan and pay it off and keep it another ten years I suppose you would get what you paid out of it.
Who said that? That's the most ridiculous thing I've read in a long time.
When my daughter bought her first brand new car, a 2015 Subaru - she paid cash for it and she is far from a multi millionaire - she's not even close to being a one millionaire.

Your daughter would not br included in thst becsuse she paid cash wnd bought reasonable priced car. That statemrnt is directed more at people who get loans for a brand new 40k car. If your daughter paid cash she did the right thing.

ccassaday · ‎10-21-2010

THere is a difference in being f frugal and being a cheap scape. It is prety nasty that some people will do to be cheap. You can be frugal and still enjoy your money.

reiki604 · ‎03-09-2010

@ccassaday......as I stated in my post DH and I always have paid cash for our cars and have paid more than your cut off amount. We are not multi millionaires but have a system of saving to pay cash. Please do not judge or count other people's money or judge how they choose to spend what they have worked for and earned.

'I refuse to engage in a battle of wits with an unarmed man'.......Unknown

Trinity11 · ‎11-16-2014

@ccassaday wrote:
@Trinity11 wrote:
@ccassaday wrote:
@Trinity11 wrote:

Frugality is defined dependent upon income.

No I dont think so. The examples i stated with thr rich guy driving a used car prove that. What got me thinking about this thread was listening to this gideo where this guy and his wife make a combined 40k. They wanted people to think they had money so they each had a 35k vehicle loan. 70k in car debt making 40k. But yet a lot of time you will see the rich guy driving a used car and keeping it 15 yesrs. Cant determine thd amount of money womeone has by their house or car. A lot of time thise kind of people are broke.

Rich people buy new cars all the time and don't keep them for fifteen years. If you are wealthy you buy what you want and you aren't necessarily going to care what anyone thinks. I think a lot of these blanket statements about how people who retire wealthy were just cheap are stories told by people where it makes them feel better to think that rich people are in debt. Nobody I know who retired well is in any debt and a half a million dollar minimum income got them that way...not cutting out a cup of coffee at Starbucks or riding around in a ten year old car.
You dont have to make a 500k income to retire wealthy. My main point is people you never would of guessed have a ton of money actually do. Dont judge a book by its cover. Sure super rich people buy new cars. I think what i wm trying to get at is people who make a moderate income can also retire wealthy and they do by staying out of debt snd paying cash.

I dont think being frugal means you cant enjoy your money or life.

I think you have a completely different opinion of the definition of rich than probably I do. The entire subject is subjective. Frugality is subjective and dependent on income. Retiring with a couple of million might make someone worry about not having enough money while someone with $100 grand might think they are well off...

Trinity11 · ‎11-16-2014

@ccassaday wrote:
@CelticCrafter wrote:
@ccassaday wrote:
@happycat wrote:
@WaJa61 wrote:
Growing up my parents had to be frugal ~ times were very tough, so I learned to be fiscally conservative. My family now complains that I'm too frugal for myself, while not at all with buying for them and others. I can see how it would annoy them over the years, and they now gift me with expensive items they know I’d love or need but refuse to buy for myself. So this is counter-productive, as well as silly. I certainly don’t want them feeling as though they need to do that. I'm not even retired yet! Make a nice salary and my husband owns his own business. Our home is paid for ~ I don’t need to work, just love my job.

We don’t buy cheap when it comes to vehicles, farming equipment, household appliances, furnishings, etc., because that's not practical. They don’t hold up. I'm talking about personal items like fashion, cosmetics, hair stylists, day spa treatments, perfumes, jewelry and such. I skimp on these things ~ usually trim my own hair and do my manicures and pedicures.

I'm going to work on this and since I'm slowly getting better with delegating, I think I'll finally hire someone to help clean the house as @Newgate has. I've always doubted that someone else could do it to my picky standards, but I need to get over myself! Free up more time to enjoy my family, friends, travel... and even some shopping and pampering. We can’t take it with us and our children’s and grandchildren's inheritance is already set up, as well as our burial plans.

I won't go crazy, though! I've seen first hand how healthcare costs can completely drain family resources. We never know what awaits us in this regard.

Also have a set amount that I donate to my church and other charities. Big believer in the first fruits go in obedience to my Lord's instructions. 💜

OH, I so agree with not buying cheap when it comes to vehicles, farm equipment, and other things. It absolutely does not pay. I say that, and I realize in my previous post I did gush over my 2nd hand chair. But, my dd bought a couch a few years ago, and it was cheap. And it is falling apart. I do think in a lot of cases you get what you pay for. Unfortunately.
I disagree with this a little. My dad has always bought a older car. But he paid cash and kept if a while. Sure he has put some money into it. But thats ok because he paid cash. One od the things ramsey teaches is only buy a car for cash. The only people sho should be buying new cars are multi millionaires who buy with cash. Eventuly you keep working up your car fund to be able to buy a 15k car with cash. You dont hsve to spend a fortune on a car to get a reliable one. Of course if you get a loan and pay it off and keep it another ten years I suppose you would get what you paid out of it.
Who said that? That's the most ridiculous thing I've read in a long time.
When my daughter bought her first brand new car, a 2015 Subaru - she paid cash for it and she is far from a multi millionaire - she's not even close to being a one millionaire.
Your daughter would not br included in thst becsuse she paid cash wnd bought reasonable priced car. That statemrnt is directed more at people who get loans for a brand new 40k car. If your daughter paid cash she did the right thing.

Actually you are better off taking 0% financing and letting your principal collect interest.

Financial advisors tell people this all the time. Let your money work for you...

Mominohio · ‎08-08-2010

@bikerbabe wrote:
Please keep in mind that one lost job, one major recession, one real estate collapse, can blow that nice retirement nest egg out of the water. Don’t assume that someone doesn’t have a substantial retirement fund because they were not frugal.

Good point!

And I think many people don't realize that some hard working people never do make enough to get too far ahead of the 8 ball. They save, they plan, but live so close to the wire because of low wages, that something is always cropping up to take the savings.

Many have no retirement plans at work, and even when they fund their own, have things happen that prevent them from contributing for periods of time and/or dipping in for health issues or to keep their heads above water during job losses etc.

It is really easy to say that we should 'live below our means', but it really is dependent on what your means actually are.

For a good part of my young adult life, I lived paycheck to paycheck to 'invest' in things for my future like affording to buy a very modest first home (it was considerably less than renting), have a good life insurance policy, continue my education etc. For many who never get financial assistance from their parents past high school, who never inherit money or property or businesses, who never work in fields that pay well (but love what they do), living 'below their means' would mean not living at all sometimes.

I like the idea of living below my means as a smart financial decision. But the reality of people being able to do it and still have a quality of life in decent housing, decent health care, decent food etc. makes the idea unachievable for many.