Quote:
Originally Posted by Curious Investor
I read somewhere that about 40% of working Americans make less than $30k a year ($15 an hour.) Most people could not come up with $1000 to cover an emergency. A good percent of Americans are poor.
The result is most Americans live pay check to paycheck and have very little saved for retirement and with the average Social Security check being about $1200, many seniors live their final years in poverty.
Anyone on this board, the exception and even though you were low income most of your life, you still saved a good amount of money for retirement? If so, tell us how.
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My grandmother did. Because she always found ways to live beneath her means. She did not turn on the heater in Ohio. IDK how she kept her pipes safe, but no heat. She slept under 18 blankets and stayed clothed inside the way one does outside.
She died with a half a million dollars and 3 propertyies and she had never bought a plastic bag for anything. She used the plastic bags that bread come in and vegetables and fruit from the grocer.
She never bought anything that wasn't on sale AND had a coupon. When you stock up like that, you don't run out and find yourself having to pay full price.
She did not use anything electric that could be avoided. I remember crawling with my cousins over three floors of carpet to pick up anything visible to the naked eye so as to avoid using the vacuum at my Aunt's house when g'ma was visiting. We had to keep it a secret that we used electric blankets while the heat was on 50 or something for her visit.
She raised three children during the depression and never gave up any of the habits she had taken up to survive and keep her kids fed.
It CAN be done, people just don't WANT to. There are things now showing how you can grow food in tiny spaces.
My stepmother rolled her eyes at my g'ma which is big because SM was pretty close to her in frugal. But when g'ma said 'don't throw that milk out, it's still good for cooking' I realized how every few pennies she had to stretch before.
My stepmother has not purchased paper since the kids left the house. Because every part of the paper has to get used, front and back.
I know when I go over there if I want to write something down I go to the little drawer with little pieces of paper cut that have at least one side not written on.
All scraps that are not toxic to dogs are given to them. Saves on dog food. Well, g'ma wouldn't have had a dog to spend a penny on, but my Dad does.
My sister and I got in trouble if we used too much toilet paper. Never throw away something like laundry detergent that just 'ran out'. Swish some water in to get what is sticking to the inside of the bottle. That is two more loads.
No dryer usage, except to de-wrinkle in some cases. Everything is hung up outside.
The water heater is on for a total of four hours a day. 2 in the AM and 2 in the evening. All showers and such must be done during that time.
At this point I'm mixing step-mom and g'ma but the point is - extremely frugal.
Repair, not replace. My father drove a car literally into the ground and still didn't want to give up on it. The new one has a leaky tire and he fills it up every 3 weeks. Not getting a new one until he has to.
My aunt about lost her mind at my copying this! I filled up a tire every 2-3 weeks too until she pitched a fit.
she has no concept of frugal and is wasting all her retirement money as a result.
I'm nowhere as frugal as I should be, but I do a lot of the things I was taught!
I bought a fixer-upper condo but I won't fix it up until the mortgage is paid. That's many many thousands saved on interest.
Most people who think it can't be done aren't willing to. Would I like floors? Yes. But my mortgage is half what rent would be for an apartment with everything normal in it. Or to spend to fix mine.
I only fix or replace what I have to and the rest will be the way it is until there is no mortgage. HTH
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