U.S. CitiesCity-Data Forum Index
Happy Easter!
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 10-31-2009, 09:46 AM
 
Location: Texas
42,237 posts, read 49,783,147 times
Reputation: 67035

Advertisements

Quote:
Originally Posted by slmaol View Post
Another arm to this topic could be - what happens when in a marriage - one person is FRUGAL - and the other is the total OPPOSITE ? one save so the other can live in luxury ! BS !!!

Those people shouldn't have married and this illustrates why conversations about things like money and lifestyle need to happen before the ring goes on the finger.

 
Old 10-31-2009, 10:05 AM
 
69,372 posts, read 53,615,406 times
Reputation: 9357
Quote:
Originally Posted by Gottasay View Post
Read The Millionaire Next Door, that's what the author says.
An even better book that would apply to the OP,

Amazon.com: Stop Acting Rich: And Start Living Like A Real Millionaire eBook: Thomas J. Stanley: Kindle Store

Stop Acting Rich.
 
Old 10-31-2009, 10:30 AM
 
Location: in here, out there
3,065 posts, read 5,281,869 times
Reputation: 5109
Rich people save their money. That's why they're still rich.
 
Old 10-31-2009, 10:39 AM
 
Location: Portland, Oregon
7,091 posts, read 10,490,270 times
Reputation: 4104
It's pretty simple, if people spend all their money every month they have noting left to save or invest.

Last edited by subsound; 10-31-2009 at 10:51 AM..
 
Old 10-31-2009, 11:49 AM
 
1,801 posts, read 3,396,025 times
Reputation: 1453
Quote:
Originally Posted by Texas User View Post
Thats why they are rich. Because they are smart in spending.
I totally agree. Very wealthy people tend to be good with money, frugal to a point and often don't mind wearing clothes/accessories that are not name brand. They know most people assume it is name brand just like some have faux diamond jewelry because they know the average Joe assumes it is real because they are wealthy. Doesn't make it right or fair but it is what it is! People struggling often strive for the look and spend tons of money un necessarily to look wealthy. They are wannabes that never will be unfortunately because they are always in debt trying to keep up!
 
Old 10-31-2009, 03:17 PM
 
943 posts, read 2,790,540 times
Reputation: 499
Quote:
Originally Posted by Rakin View Post
There are 3 generations of rich in a family:

1st Generation is frugal, works hard and builds a great business. Teaches kids the value of a buck.

2nd Generation just tries not to screw it up and lives a pretty nice lifestyle. Raises spoiled kids.

3rd Generation is the spoiled kids who did not earn it, has no concept of how to keep it going, lives lavishly, parties hard, does drugs and files bankruptcy. They blow everything Grand Pa worked to build.

Not all rich folks are frugal but the ones who earned it usually are.
This sounds sorta like the Hilton story, lol.
 
Old 10-31-2009, 04:41 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,974,551 times
Reputation: 4304
Quote:
Originally Posted by sterlinggirl View Post
If you take the time to study people, you'll find that people typically spend their days with people who have similar interests.
And if you took the time to study people you'd know that what interests people have are highly correlated with their socio-economic status. People surround themselves with people of similar socio-economic status, in the case of the lower classes they are often not even aware of the higher social classes. They never encounter them! That was certainly the case of myself when I was growing up.


Quote:
Originally Posted by sterlinggirl View Post
I love to cook (and eat), and I'll happily spend time with somebody from a richer or poorer background in the quest for the perfect recipe, but you couldn't pay me enough money to spend a week with somebody of my own class who can't talk about anything but shoes.
Most people that cook are in lower socio-economic classes, there are of course exceptions in high cuisine though.

Quote:
Originally Posted by sterlinggirl View Post
If a rich person happens to be frugal, there's a good chance that they'll choose to associate with another frugal person over the snobs down at the yacht club.
Perhaps, but it depends on what people mean by frugal. If one simply means that they live "below their means" then many rich people are frugal, including those at the yacht club.

But this idea of the "frugal millionaire" was sold by a particular silly book. Its amazing that so many people think that a book that looks at a handful of people actually would tell you anything about the world in general. There are certainly "frugal millionaires", they are usually people with strong personalities that grew up in prole families that gained wealth later in life. But that is not representative of most rich people.
 
Old 10-31-2009, 04:44 PM
 
Location: Conejo Valley, CA
12,476 posts, read 16,974,551 times
Reputation: 4304
Quote:
Originally Posted by 3-Oaks View Post
Another example of someone with lots of $$$ but lives more like a 'normal' person....

Warren Buffet lives in an early 1900s neighborhood in Omaha, in a house he bought in 1958.
Warren Buffet lives nothing like an average person, yeah it still owes his home in Omaha.....along with a number of other homes! He recently sold his beach house here in Southern California for a few million.
 
Old 10-31-2009, 05:39 PM
 
Location: Fairfield, CT
5,536 posts, read 8,190,931 times
Reputation: 5780
Quote:
Originally Posted by user_id View Post
Warren Buffet lives nothing like an average person, yeah it still owes his home in Omaha.....along with a number of other homes! He recently sold his beach house here in Southern California for a few million.
With wealth, all things are relative. He lives modestly for his income and level of wealth. As others have said, the key to wealth is spending less than you earn, by a significant amount over time. As long as you're spending less than you earn by a significant amount, you're frugal.
 
Old 10-31-2009, 05:43 PM
 
Location: La lune et les étoiles
17,414 posts, read 18,283,787 times
Reputation: 18588
Quote:
Originally Posted by Rakin View Post
There are 3 generations of rich in a family:

1st Generation is frugal, works hard and builds a great business. Teaches kids the value of a buck.

2nd Generation just tries not to screw it up and lives a pretty nice lifestyle. Raises spoiled kids.

3rd Generation is the spoiled kids who did not earn it, has no concept of how to keep it going, lives lavishly, parties hard, does drugs and files bankruptcy. They blow everything Grand Pa worked to build.

Not all rich folks are frugal but the ones who earned it usually are.
Seen this exact scenario happen several times over.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top