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Old 08-24-2009, 11:13 AM
 
Location: Falls Church, VA
722 posts, read 1,714,202 times
Reputation: 314

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I'm not really frugal yet. Well, I'm more frugal than most Americans, overall, most of the time - but that isn't saying much. I still don't shop carefully enough; I still eat out too often. I'm working on it.

I am debt-free, though. Because of my parents. Not because they were frugal, but because they weren't. They spent carelessly and abused credit and filed for bankruptcy multiple times. Despite this, they actually managed to give me a solid upbringing (they were very loving), but their whole lives they have struggled and struggled with bills. They are in their early 60s, and broke, broke, broke now. I do what I can for them, but I have 2 kids to care for, too, and I am not wealthy.

Anyway. I don't want to burden my own children this way in 30 years. I don't want them up at night worrying about my finances, the way I must do with my parents. This is why I'm frugal.
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Old 08-24-2009, 11:50 AM
 
60 posts, read 94,353 times
Reputation: 17
lizzy: pinay din ako. anyway... living frugally all boils down i think on one's own personality and dignity. like if your grand dad's kids are ok living off something they didn't work hard for... then good for them.. coz i can't live like that. esp. the poster above me... her/his parent's lifestyle of ABUSING credit... i personally can't spend money I KNOW I DONT HAVE AND CANT PAY! coz well i can always file for bankruptcy... well congratulate your parents and people like them coz they are the VERY reason why AMERICA is economically depressed right now. WAY TO GO.... undignified spenders.!


i am obviously pissed coz i paid for my car in less than 2 yrs. HOW? i dont shop and eat out. i live like a freaking pauper so i can pay off my car loan early coz i cant sleep when i know i have debt. and i dont wanna pay any more interest on my car loan. i am also pissed that my sister's 2 adopted kids are spoiled rotten while my sister is working her ass off and living like a pauper while her adopted kids do NOTHING but milk her. i mean she honestly looks like a beggar while her adopted kids who i dont even know where and who their parents are spend all her hard earned money?!

freaking crazy i believe you worked hard to spend on yourself not your kids or on her case the adopted ones.

Last edited by iamhgp; 08-24-2009 at 12:06 PM..
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Old 08-24-2009, 01:34 PM
 
Location: Meridian MS
18 posts, read 71,804 times
Reputation: 25
My boyfriend and I are trying to save up to get our own place together.
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Old 08-27-2009, 10:31 AM
 
Location: Redondo Beach, CA
7,308 posts, read 6,903,911 times
Reputation: 7470
I'm frugal because it's just plain smart. It just doesn't make any kind of sense to pay more for something when you don't need to. That's not the same as depriving yourself of nice things, it just means not paying more for them than you have to.

As an example, why pay full price for a new book when you can buy that same new book with a coupon for 30% off from the store if you sign up for their rewards program? And if it's a book you don't care about keeping, and it's available, check it out for free at the library. Now that book money can go towards something else, or be saved for future retirement. And all those little savings add up to big bucks in the long run.

When we first got married, my husband was mortified when I asked retailers for discounts on purchases. . . until he saw that it often works! "How much if I buy 2?" "Will you discount this if I buy the display item?" Sometimes I just say, "How much for me? ," and I get a discount. Hey, if they're willing to sell it for less, why should I pay more just because I'm not willing to ask? It doesn't work every time, but my husband enjoys the feeling of negotiating a better price now, instead of being embarrassed to even ask.

And as a result of checking labels for price per lb/oz/gallon/etc., negotiating discounts, taking advantage of 0% financing, using coupons, etc., we can afford to travel to Europe every year so we can visit his side of the family, make home improvements (we're remodeling our kitchen right now), and most importantly, not have to freak out about where we're going to find the money when something unexpected comes up, like a flat tire on his motorcycle (which is expensive to replace!).

Bottom line, it's common sense.
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Old 08-28-2009, 09:51 PM
 
24,718 posts, read 26,785,278 times
Reputation: 22714
I am frugal because:

1. I don't want to be a wage slave until I'm in my 60s or longer. I would like to be financially independent as soon as possible so that I am not dependent on the labor market.

2. Once you reach a certain comfort level, owning more stuff does not make a person happy. Psychologists and economists are now confirming this in their research. The comfort level that a person needs to be happy is much lower than many people think.

3. Having savings and investments bring a measure of security/freedom/options that you don't have when living payday to payday or in debt. Having money in the bank is not an automatic route to happiness, but it's a lot better than the alternative.

4. Finally, I find that having stuff is a burden. I don't like cleaning, maintaining, and organizing stuff. It's easier to not buy things in the first place.

Last edited by mysticaltyger; 08-28-2009 at 10:34 PM..
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Old 08-28-2009, 10:05 PM
 
Location: Suffolk County, NY
874 posts, read 2,416,973 times
Reputation: 452
To myself, being frugal is basically being responsible. What is the main reason for the economic crisis we are in now? People putting themselves in debt that they simply could not handle.
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Old 08-28-2009, 10:27 PM
 
24,718 posts, read 26,785,278 times
Reputation: 22714
Quote:
Originally Posted by Fat Freddy View Post
Why would anyone want to get rich if they weren't interested in spending it?
Well, if you are rich, you DO spend it...just not all of it. You live off the income/capital gains generated by your savings/investments. Ideally, the really rich are able to increase both their lifesyles and their wealth at the same time. For example. If you have $1,000,000 in a stock mutual fund and take 3% of it, you get an income of $30,000. If the fund earns 8% in that same year, you can take a little more the following year and sill withdraw less than the 3% you took out in year #1, etc.

Most people don't save enough for their old age, when they will need money the most.

Last edited by mysticaltyger; 08-28-2009 at 10:38 PM..
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Old 08-30-2009, 12:46 AM
 
Location: Ocean Shores, WA
5,082 posts, read 12,579,535 times
Reputation: 10543
Quote:
Originally Posted by mysticaltyger View Post

Most people don't save enough for their old age, when they will need money the most.
The older I get, the less I need.

This is probably because I already have it.

Or, because I have learned that I don't really need it.
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Old 08-30-2009, 12:52 AM
 
Location: southern california
55,237 posts, read 72,402,860 times
Reputation: 47449
been caught sleeping 2 times. had it all, woke up--- the house was on fire,
not guna happen a 3rd time.
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Old 08-30-2009, 03:48 PM
 
24,718 posts, read 26,785,278 times
Reputation: 22714
Quote:
Originally Posted by Fat Freddy View Post
The older I get, the less I need.

This is probably because I already have it.

Or, because I have learned that I don't really need it.
There's some truth to that. But there are also a whole lot of people in their 50s who have gotten caught with their pants down, who saved little, thinking they were going to work at decent paying jobs until their mid 60s...but instead, they've been laid off from good paying jobs and relegated to the low wage labor force. I've seen this with quite a few people.
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