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Old 02-09-2013, 02:46 PM
 
Location: San Antonio/Houston
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In the process of living on the cheap, we can often diverge into a path of stupidity. The problem is, it's tough to know when you've gone too far. When frugality myths are simply not true?
Does frugality actually involve sacrifice and denial, or it's all about how far you take it?
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Old 02-09-2013, 03:04 PM
 
Location: East of the Mississippi and South of Bluegrass
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Default Great question

Quote:
Originally Posted by elnina View Post
In the process of living on the cheap, we can often diverge into a path of stupidity. The problem is, it's tough to know when you've gone too far. When frugality myths are simply not true?
Does frugality actually involve sacrifice and denial, or it's all about how far you take it?
Personally, for me, I think it's a little bit of both. Being frugal does mean a little sacrifice and some denial but I would not say so much so that it is not possible to do. To be honest I think most of us (certainly not all of us) grew up in leaner and more practical times and we may have been born by parents whose lives were a bit more austere than our own.

I imagine a life where, if possible for me, I would go off grid and be less than 100% dependent on the various utilities; realistically however, I don't see it happeningfor me. In the end I think we can be frugal and it is mostly a matter of just a little common sense.

Best regards, sincerely

HomeIsWhere...
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Old 02-09-2013, 03:47 PM
 
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Being frugal is being money smart. Do I need to buy that 25k car...no. will a 7k used car get the job done and still be a decent car...yes. Am I sacrificing anything...not in my opinion. Hardly in denial.

Do I need to get fast food at work for lunch or can I pack my own lunch for literally 2 bucks.

There is a line though, I don't cross it though so not worried.

Someone already made a thread about this though.
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Old 02-09-2013, 05:07 PM
 
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Originally Posted by packer43064 View Post
Being frugal is being money smart.
I don't know if that's the best way to put it. You can technically be money stupid and frugal at the same time.

Consider a guy who makes $20/hr and washes his own clothes. He's money stupid in that he sells an hour of his time for $20 but he's frugal in that he doesn't hire someone to wash his clothes.

Another guy who makes $50/hr and pays $20/week to get his clothes washed. He's money smart in that he's selling an hour of his time for $50 while not so frugal about his laundry.
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Old 02-09-2013, 05:28 PM
 
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Originally Posted by NJBest View Post
I don't know if that's the best way to put it. You can technically be money stupid and frugal at the same time.

Consider a guy who makes $20/hr and washes his own clothes. He's money stupid in that he sells an hour of his time for $20 but he's frugal in that he doesn't hire someone to wash his clothes.

Another guy who makes $50/hr and pays $20/week to get his clothes washed. He's money smart in that he's selling an hour of his time for $50 while not so frugal about his laundry.
That is just called being stupid. Lol

Also who doesn't do their own laundry. Unless were talking about suits or something.
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Old 02-09-2013, 05:33 PM
 
Location: North Jackson
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Unless they are doing their laundry during work hours, why does their salary come into play here?

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Old 02-09-2013, 05:42 PM
 
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Originally Posted by JacksonPanther View Post
Unless they are doing their laundry during work hours, why does their salary come into play here?

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I've always wondered this too. If your making $20 an hour from 6 am to 2pm Mon-Fri how does that equate to me making $20/hr on a Saturday when I'm doing laundry.
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Old 02-09-2013, 05:49 PM
 
Location: San Marcos, TX
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I know I gave this example in another thread here (maybe the one about being cheap?) but my mother falls into the "stupid" category when she takes frugal too far.

Example was an argument we had about renting a dumpster vs. making trips to the city dump to clean out our old house. It was storage items, stuff from remodeling, stuff that had gotten wet from a plumbing problem, and just a general, thorough house cleaning.

I went round and round with her, trying to explain why renting a dumpster for (for example, not remembering exactly at this time) about $250 for two weeks made more sense than using her big pickup truck to make multiple trips to the dump, even though her "method" would have saved about fifty bucks.

Finally she ended the argument by declaring me to be foolish with money and something along the lines of "IF you are so RICH, then go ahead!"

Another example was when she needed extra help cleaning out a rental house she owns. It's 2.5 hours away from where we live. She had my oldest son helping her but the mess was huge, taking way too long. I suggested she put an ad on Craigslist for someone who was out of work to come help and pay them a flat rate (it was mainly bagging up trash and sweeping, no special skills needed) and she insisted she couldn't afford that. Instead, she wanted me to come down for a weekend, with my spouse and the other 2 kids, and said she'd pay for our expenses (gas both ways in our van, plus food for the weekend). Would have cost her way more than hiring someone for a full day or work and lead to way too many distractions and would have resulted in less work done in the long run anyway. Stupid, in trying to be frugal.
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Old 02-09-2013, 05:57 PM
 
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Quote:
Originally Posted by JacksonPanther View Post
Unless they are doing their laundry during work hours, why does their salary come into play here?

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They are two separate, unrelated activities. I was showing how in one activity someone can be stupid while in another completely unrelated activity they can be frugal.

The way I look at it is that being money smart encompasses your entire economy. That includes money coming in, money saved, and money spent.... and time.
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Old 02-09-2013, 05:58 PM
 
Location: Kailua Kona, HI
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Quote:
Originally Posted by NJBest View Post
I don't know if that's the best way to put it. You can technically be money stupid and frugal at the same time.

Consider a guy who makes $20/hr and washes his own clothes. He's money stupid in that he sells an hour of his time for $20 but he's frugal in that he doesn't hire someone to wash his clothes.

Another guy who makes $50/hr and pays $20/week to get his clothes washed. He's money smart in that he's selling an hour of his time for $50 while not so frugal about his laundry.

Because time is money. this example and the dumpster rental vs trips by the mom, are good examples of being stupid with your time. If you have a busy schedule, lots of vital appointments, that "corporate lifestyle" perhaps, and you have to take 3 or 4 hours out of a rare Saturday afternoon spent not at work, I don't think that's a great use of time unless you happen to love doing laundry.

We faced a similar option when we moved to Hawaii. 50 or 60 miles away from Kona are much cheaper houses. However, we cannot jump on a freeway and go 85 mph to get to work as we did in Las Vegas. 40 or 50 miles in LA or Nevada is nothing. But when you have one 2 lane blacktop going around the island with no shoulders, lots of curves and a speed limit of about 35 to 45 90% of the time, that 60 miles becomes wasted time spent in your car not to mention $4.60/gal gasoline. I don't want to drive 1.5 hours twice a day to get into town for work, so we spent more on a home but we have much more time to call our own.

to me, driving all over visiting 3 or 4 stores to save a couple of bucks is a ridiculous waste of time. so that's my idea of stupid vs "frugal"!!
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