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In a follow-up post he clarified that if he and his wife are dining with another couple who doesn't want their leftovers they will take them, not that they pick food up from the plates of random strangers.
I'm not eating after people I know. Wife? Yes, if I had kids yes but that's the line for me. He did also state they ate food that was recovered from a dumpster by a third party. No thanks
While that is true, I'm glad I earn enough to not be forced into the following
To me it's extreme to get your bed from the side of the road, eat off of other people's plates not bath daily and move from one part of your house to another depending on seasons.
Again, it can be a choice lifestyle. You can earn enough money and still choose it.
We were once pretty darn poor (graduate student) but now we're in the top 6% income bracket and I'm still picking up stuff from the side of the road (tupperware!) and I volunteer to help the school kids recycle/compost their lunches I will take everything home that is sealed or in baggies (like cookies and chips). Sometimes an unopened container of yogurt or applesauce will be tossed into the trash and I will go after it and clean it off.
I mend our clothing and I buy nearly all our clothing from Goodwill or second-hand (not shoes though.. I'd rather wear used undies than used shoes!). I opened up a local "Buy Nothing -insert city name-" and I have a community exchange room under my condo so that I can get even more free stuff... food, coffee, coffee filters, clothing, presents, etc.. I just ask my community to gift me... it's pretty cool!
Homes where I live are made without A/C's so in the summer time we sometimes sleep downstairs where it's cooler. Not a big deal.
This lifestyle is not for everyone. It's for me. My husband makes the money and my job is to conserve it. We're a team and it's going allow us to fund college educations, investments and pay off the home 23 years early. I'll have my fun in my 50's after I've paid my dues and obligations.
Again, it can be a choice lifestyle. You can earn enough money and still choose it.
We were once pretty darn poor (graduate student) but now we're in the top 6% income bracket and I'm still picking up stuff from the side of the road (tupperware!) and I volunteer to help the school kids recycle/compost their lunches I will take everything home that is sealed or in baggies (like cookies and chips). Sometimes an unopened container of yogurt or applesauce will be tossed into the trash and I will go after it and clean it off.
I mend our clothing and I buy nearly all our clothing from Goodwill or second-hand (not shoes though.. I'd rather wear used undies than used shoes!). I opened up a local "Buy Nothing -insert city name-" and I have a community exchange room under my condo so that I can get even more free stuff... food, coffee, coffee filters, clothing, presents, etc.. I just ask my community to gift me... it's pretty cool!
Homes where I live are made without A/C's so in the summer time we sometimes sleep downstairs where it's cooler. Not a big deal.
This lifestyle is not for everyone. It's for me. My husband makes the money and my job is to conserve it. We're a team and it's going allow us to fund college educations, investments and pay off the home 23 years early. I'll have my fun in my 50's after I've paid my dues and obligations.
That's great and I already acknowledged it could be your lifestyle just not mine unless forced. Sorry it's one thing to run your AC less, but to relocate to your living room for months means you should have invested in a better house IMo. If you are so frugal why have a 30 year mortgage in the first place
That's great and I already acknowledged it could be your lifestyle just not mine unless forced. Sorry it's one thing to run your AC less, but to relocate to your living room for months means you should have invested in a better house IMo. If you are so frugal why have a 30 year mortgage in the first place
We don't sleep in the living room... we use a guest room...
First of all, we've only been in this income bracket for a couple of years and we have to substantially compensate for the years we weren't able to save. We have a mortgage because we were impatient and didn't want to wait the 5 years it would have taken to save up the full amount of cash for the condo. I also felt that it was economically the best time to buy.... we bought right before the market took off (spring 2012) and rates were still low <4%. An identical condo sold 9 months later for $50k more than what we paid and another sold for $100k more than ours a few months ago... It was a hard decision for us, but one I definitely don't regret... and most importantly:
We were sure to go with a lender that doesn't penalize for pre-payment.
We don't sleep in the living room... we use a guest room...
First of all, we've only been in this income bracket for a couple of years and we have to substantially compensate for the years we weren't able to save. We have a mortgage because we were impatient and didn't want to wait the 5 years it would have taken to save up the full amount of cash for the condo. I also felt that it was economically the best time to buy.... we bought right before the market took off (spring 2012) and rates were still low <4%. An identical condo sold 9 months later for $50k more than what we paid and another sold for $100k more than ours a few months ago... It was a hard decision for us, but one I definitely don't regret... and most importantly:
We were sure to go with a lender that doesn't penalize for pre-payment.
Most fixed rate mortgages don't have a prepayment penalty. My question about the 30 year mortgage wasn't about having a mortgage but rather a 30 year. Why not 15 year fixed? 10/1 7/1 5/1 arms?If you were going to pay it off in 7 any of these would have been better choices
Most fixed rate mortgages don't have a prepayment penalty. My question about the 30 year mortgage wasn't about having a mortgage but rather a 30 year. Why not 15 year fixed? 10/1 7/1 5/1 arms?If you were going to pay it off in 7 any of these would have been better choices
Gosh, well, I really have no good excuse. Paying off a mortgage in 7 years seemed like pie in the sky in 2012 and it's not even something we discussed as a couple, but I'll also be the first to admit that I'm really ignorant, naive and overwhelmed about finances as I spend most of my concentration on day-to-day home management.. cooking, cleaning, helping kids, etc. Despite his advanced degree and (relative) prestige, my husband is not all that much better than I...
We're not interested in making a huge amount of wealth, we simply want financial stability and security. All variables remaining constant (crossing fingers!), frugality alone will allow us to reach the magic number a financial advisor said we'd need for retirement... and that is without the possibility of an extremely substantial inheritance (very possible, but out of prudence it's not considered). But since we're not complete idiots, we do have some investment vehicles, although I definitely don't pay all that much attention to them. I could do more.. I've sorta been following the most basic Dave Ramsey/Suze Orman advice of making sure there is a substantial emergency fund (1 yr for us), no consumer debt, no debt at all (okay, that's my personal goal), make sure the kids are okay.. and then build wealth. I know our financial advisor would prefer us make very different choices if it weren't for our our very low risk tolerance. I'm sure we could make our money work a lot harder for us, but the reality is that no amount of money will entice us to change our living habits... we're just simple, frugal people that believe all that there is to enjoy in life can be found on a walk in the park or hanging out with our kids and our pets.
From a frugality standpoint, I don't know of there's anything I do that society frowns on....and I really don't care if anyone frowns on what I do or not.
So I consider myself a fairly frugal person, but I was wondering what other people do that society in general would frown upon. I'll start with my list..
1. We use beds and most of our furniture found on the side of the road.
2. We will take and eat food off other peoples plates, yes in restaurants. I don't mean chewed and spit out food. We have standards
3. We hand wash clothes.
4. We reuse food boxes and bags that food comes in.
5. We don't shower daily.
6. Walmart bags for all trash cans.
7. My mother in law makes our blankets and pillows from older items.
8. No lights on during the day, except in bathroom.
9. Ac doesn't come on until 85, heat at 55
10. We will cook bones to make broths, I mean we never throw away bones, if we eat meat with bones its assumed our next meal will use the broth.
11. Metal food cans are cleaned for dry food storage.
12. Me and wife move to living room during hot part of summer and seal off the upstairs.
13. I suppose I could add no internet or tv. We both do have smartphones with data plans.
My list is not as impressive as yours, but then again I like some little luxuries. However I don't really care about what "society thinks" of the way I live (for the most part anyway).
1. I believe in reusing everything I can. Recycling is secondary to reusing.
2. I only buy used clothes (except for underwear and most shoes) and furniture (although I did buy a new mattress).
3. I NEVER shop at malls / department stores (no need for that when buying used, right ?)
4. I eat very cheaply (vegetables, fruit, beans, tofu, rice). Absolutely no meat or animal products.
5. I grow whatever food I can, but I don't do this enough as I don't grow stuff year-round.
6. I have a $10/month cell phone plan
7. I drive a hybrid and my monthly gas bill is about $30 (I plan to move much closer to work and school and ride the bus to school to save even more on gas).
8. I don't eat out and I don't spend money on alcohol, apart from the occasional bottle of wine from Trader Joe's (about once every 3 months or so).
9. I cook big batches of soups and stews in my crockpot and it makes many meals. I also bake my own bread.
10. No cable, but I do have internet as I need WiFi for my $10 a month phone plan
11. Absolutely no soft drinks (What a massive waste of money!!)
Does society frown on that, or just the moderator up on the Pittsburgh board?
I'm confused!
According to the statistics (2011 Gallup poll), 73% of registered voters would frown on that.
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It was a hard decision for us, but one I definitely don't regret... and most importantly:
