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Old 03-20-2017, 05:08 PM
 
5,474 posts, read 8,162,916 times
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In a word: freedom.

I remember the first time I had $100k in my Checking account.
(And a lifestyle where that was 3-4 years of expenses)
I remember thinking: "I can do ANYTHING I want!"

It's helped in getting higher pay (Employers know they need you more than you need them... it resonates off you.)

I was very fortunate, because FOLLOWING this lifestyle I... was and have been very unfortunate (health wise)
My financial habbits/savings/investments saved me, and continue to offer me a better quality of life.

Hasn't paid off how I'd like, but it's paid off BIG.
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Old 03-20-2017, 06:14 PM
 
Location: Las Vegas
13,433 posts, read 24,210,764 times
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Several reasons! First because I am not wealthy. Second because it gives me a sense of accomplishment. And third because it means I have more money to spend on the things I want!
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Old 03-20-2017, 07:49 PM
 
Location: Oklahoma City, OK
3,616 posts, read 3,883,295 times
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I'm frugal because I don't want to end up like my Dad, filing bankruptcy right before he died. I don't want to be like most Americans and just consume, consume, consume. I also know Social Security may not be around when I'm in my late 60's, or at least greatly reduced. I want to be self sufficient in my 25-30 years in retirement. Of course, I'm also frugal now because the recession wiped me out and I have to start over at middle age and save aggressively to not work until I'm 80.
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Old 03-20-2017, 08:16 PM
Status: "I can learn to admire w/o having to aquire." (set 5 days ago)
 
Location: Where the last of the "Big 3" has retired. Spurs country.
3,027 posts, read 3,612,315 times
Reputation: 7341
I'm frugal now because I have everything I NEED so I don't spend much, and I have everything I WANT. And at this point in my life, I have "been there, done that" with spending money. It is no longer fun to spend it on "stuff" I don't need.

Now I find it fun, and a form of inexpensive entertainment, to bargain hunt, look for "treasures" at estate, yard, garage sales and thrift stores, and save money, a year at a time, by putting cash in an envelope whenever I get refunds, rebates, unexpected money, found money, and monetary Christmas gifts and seeing how much I end up with at the end of each year. I call it "forced savings" and it works! I have ended up with "found" money every year from $200.00 - $500.00! This is what I am using to pay for my trip to California in June (savings from 2007-2016, except for 2013, when I bought my house. I used every penny of any extra monies that year).

Last edited by Lodestar 77; 03-20-2017 at 08:19 PM.. Reason: Added more to post.
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Old 03-23-2017, 07:24 AM
 
4,328 posts, read 4,426,600 times
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I like efficiency in areas of my life where they can be. I am not frugal all over, I will buy a 6 pack of beer that is 12 bucks, but at the same time I eat the same thing for lunch every day at work (chicken breast, fruit, and some form of carbs, usually chips, and my snack is a protein shake and some fat (if I didn't work out) or a protein shake and carbs (if I did). We usually eat the same thing for dinner on the same night of the week during the week. It makes it easier to know that we are eating breakfast for dinner on Thursday night, etc. Now the weekends is usually when we change it up a little.

I've made a game out of saving/investing. I keep track of my networth on a monthly basis and it's just awesome to watch that mountain (area graph) continue to rise!
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Old 03-23-2017, 11:44 AM
 
3,270 posts, read 1,942,828 times
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I was raised to be frugal and a bargain-hunter. As my husband and I get closer to retirement age, I have stepped-up the frugality more, so that we have enough saved when we retire.
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Old 03-24-2017, 05:39 AM
 
Location: Bella Vista, Ark
69,278 posts, read 79,469,982 times
Reputation: 38646
Quote:
Originally Posted by 49erfan916 View Post
Is it because it's in your nature or do you have a particular reason why you're frugal. (income, goals, etc)


The reason why i became frugal because i wanted to beef up my savings account. Sure, i could go to every sporting game in california, buy every video game on my consoles, buy the most expensive jordans to add to my collection, or go to the naughty adult clubs, but i want to beef up my savings account just in case something catastrophic happens.
For me it is a combination of things: 1 have always loved being a smart shopper, ever since I got married almost 60 years ago. It also is a necessity if we are to have quality at a price we can manage. Living on a fixed income or broken as I sometimes call it, I have to watch what I spend or we wouldn't be able to do anything other than barely exist and being retired we have the time to shop wisely. Other than shopping and a few other things I really am not all that frugal.

I have learned another lesson, when I see something in a catalog I think I just have to have; I cut it out, let it sit my my computer for about a week or so and if I still think I have to have it, then I will purchase, but this does keep me from impulse shopping. I also always use on line stores that have free shipping. I even buy our wine this way. We save a fortune on gas.
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Old 03-29-2017, 08:16 PM
 
52 posts, read 24,076 times
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Growing up my siblings and I were know as the rich kids. We were fortunate enough to live a very comfortable life. One day I asked my mother if we were infact rich....her reply: We spend our money wisely. I've lived that way most of my life, spending wisely. Of course when I reached adulthood I realized my parents were infact rich.

I also don't like being in debt.
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Old 03-30-2017, 01:10 PM
 
Location: trapped in the body of a dying animal
3,174 posts, read 1,348,340 times
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Quote:
Originally Posted by 49erfan916 View Post
Is it because it's in your nature or do you have a particular reason why you're frugal. (income, goals, etc)


The reason why i became frugal because i wanted to beef up my savings account. Sure, i could go to every sporting game in california, buy every video game on my consoles, buy the most expensive jordans to add to my collection, or go to the naughty adult clubs, but i want to beef up my savings account just in case something catastrophic happens.
I grew up poor. We lived in Deepest Darkest Appalachia outside of a dying coal-mining town. My dad was sporadically employed and in and out of the hospital... so we got by on food stamps occasionally. And more often on tomatoes from the garden and government cheese

When I was a teenager my dad found stable employment. My mom finished nursing school in her 30's and also got a pretty good job. So after that point we were doing ok financially (though not great)- we even got air conditioning!

But the die had been cast- I grew up in an environment where money was scarce. And my parents had dealt with that for most of their lives, and my grandparents lived through the Great Depression and WWII. So I just grew up with the mentality that debt is a bad/scary thing. You don't spend beyond your means. And you save money to prepare for hard times that WILL eventually come.

It's not the standard American outlook these days (I'm a generation or two behind the times in some ways)... but these have been useful lessons.


Now I'm middle aged. Finished college in my 30's and started a second career just like Mom I make decent money and so does my wife- we don't really *need* to be frugal... but we choose to (well, mostly *I* chose to). These days for me, it's all about financial security. Job losses happen. Economic crashes happen. I've lived through several of each, and I'll live through several more. If your debts are minimal and you have money in the bank/investments... the hard times are so much less stressful.

And in a broader sense... I've become more interested in history as I get older. The Pax Americana we live in is an extraordinarily peaceful and stable time in many ways. Human history is LITTERED with calamity of any sort you can imagine- even the most mediocre American is extremely lucky in a historical sense. One theme that you see over and over in history is that with a very few exceptions (such as the Bolshevik Revolution)... even a modest amount of prosperity GREATLY improves your odds of a good outcome. Doesn't matter whether you're talking about war, disease, economic depression, famine, foreign invasion, natural disaster- any calamity you can imagine. The poor ALWAYS bear the brunt of it. Not saying it's right- just that it's a tragic and *fact* of history repeated over and over.

So yeah, it's about security.
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Old 04-06-2017, 06:34 AM
 
Location: Tampa, FL
27,798 posts, read 24,867,080 times
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Quote:
Originally Posted by C24L View Post
I am frugal because I want to save money for retirement
But don't forget to live and enjoy life while you're on your way to retirement. You'll be retired with money but no memories or memories of being so conscious of not spending that you won't have anything to show for your life on Earth. Balance it a little, imo.
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