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Old 12-11-2013, 12:04 PM
 
Location: Verde Valley AZ
8,775 posts, read 11,853,324 times
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Quote:
Originally Posted by eastmemphisguy View Post
You don't know what's going on in other people's finances. Maybe they have to scrimp because of college loans or family problems or whatever. Personally, I'd much rather sacrifice quantity than quality. I can't believe some people have walk in closets! That are filled!!!! And the size of some houses today. Yikes!
I see this all the time on those House Hunter shows. I can't imagine having that many clothes, shoes, etc.. And so much 'wasted' space in those homes.

It's true we don't know what other folks finances are. I even caught myself being a tad judgmental toward some fellow employees last week. We were given an extra 25% discount on everything we wanted to buy in one trip on certain days which was a really good thing. One employee spent $1,200 on some pretty big items, saved $300, but still went into debt for $900. I simply cannot do that but shouldn't judge others because they do. There were others who did the same thing and others who had actually saved up for the stuff they bought. Last year I stocked up on food. This year I bought myself a Food Saver and Therma lined drapes for my big living room windows. Not much but stuff I really needed.
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Old 12-11-2013, 01:15 PM
 
15,631 posts, read 26,122,878 times
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Quote:
Originally Posted by AZDesertBrat View Post
I see this all the time on those House Hunter shows. I can't imagine having that many clothes, shoes, etc.. And so much 'wasted' space in those homes.

It's true we don't know what other folks finances are. I even caught myself being a tad judgmental toward some fellow employees last week. We were given an extra 25% discount on everything we wanted to buy in one trip on certain days which was a really good thing. One employee spent $1,200 on some pretty big items, saved $300, but still went into debt for $900. I simply cannot do that but shouldn't judge others because they do. There were others who did the same thing and others who had actually saved up for the stuff they bought. Last year I stocked up on food. This year I bought myself a Food Saver and Therma lined drapes for my big living room windows. Not much but stuff I really needed.
How do you know this person went into debt?

The reason I ask is that a lot of people assume if someone uses a credit card that means the person can't afford it. A little over half the people that use credit cards pay them off monthly. I'm tired of the she charged it she MUST be in debt thinking.
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Old 12-11-2013, 06:50 PM
 
Location: Corona the I.E.
10,137 posts, read 17,400,741 times
Reputation: 9138
I am frugal, Millionaire Next Door Type, not quite there yet LOL, but I take good care of my stuff and whether it's built in China or the US it lasts quite awhile.

In the last 10 years I don't have the energy to bargain shop for everything, and more importantly time, so now I am only willing to put a lot of time into savings on big ticket items.
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Old 12-12-2013, 12:18 AM
 
Location: Brawndo-Thirst-Mutilator-Nation
22,573 posts, read 24,379,858 times
Reputation: 20219
Yes, I am cheap.....but not too cheap when it matters.

Forget the stainless steel refers or the washer dryer set that costs 2000 smackers.......people don't NEED that stuff, they want it.

I will buy cheap, like tools.....but not too cheap, that means junk.
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Old 12-12-2013, 07:28 AM
 
23,972 posts, read 10,323,302 times
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I can be very frugal especially when I have a goal but I will not be cheap. Quantity cannot replace quality!
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Old 12-12-2013, 07:40 AM
 
18,837 posts, read 37,215,927 times
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Do I need a fancy blender that costs $500 or one that costs $30? How much will I use it? For what purpose? I am frugal with some things, not so much with others, for example, cheap shoes, I rarely purchase cheap shoes, sure, I have some $5 flip flops, but most of my shoes cost upwards over $100, on sale!

This year, I am not saving much...buying new furniture, for the first time in my life...I have always had hand me down beds, sofas, tables...finally, I can buy new...I have earned the right to have a sofa and flat screen tv!
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Old 12-12-2013, 09:09 AM
 
Location: MO->MI->CA->TX->MA
7,021 posts, read 14,413,454 times
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Quote:
Originally Posted by johngolf View Post
Frugal when one has little is a good trait and one that could keep you out of trouble. As you start to earn, enjoying the nicer things is good. As you earn more being a bit extravagant is nice as you earned it. The ultimate is OK I have been there and while I enjoyed the $2,500.00 watch, I am just as happy with the $250.00 watch especially when I can still afford the $2,500.00 watch but I am going to invest the $2,250.00 difference for the future.

I say there are stages.

1. I have nothing but I yearn for more and I will work for it. Walmart.
2. I am beginning to earn and I can afford better. Macy's.
3. I am doing well and I can be a bit crazy with it. Nordstrom's.
4. I am doing very well but I want value for my dollar. A combination of all 3.
Reminds me of how I started out with Frugality.. I bought everything at Walmart, Target, or the Dollar Stores in the beginning (and store brand whenever possible.) After a while, I found I couldn't tolerate the quality of some of the things, I upgraded the brand or went to a more expensive outlet (i.e. Macys.)
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Old 12-12-2013, 10:30 AM
 
Location: All Over
4,003 posts, read 6,059,651 times
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Quote:
Originally Posted by MJ7 View Post
I recently graduated college, and my friends and I have professional careers. Back in college I was a frugal shopper, sometimes (I also worked a full-time professional job through my Masters), and now that we are all out on our own making decent salaries the question is...why are so many people content on saving a dime to live with less quality?

I'm not talking about wining and dining every night or even comparing Aldi brand items to Kraft or whatever...I'm simply talking about the mindset and old saying, "you get what you pay for".

I like to think of myself as a frugal shopper still, however, by frugal I mean this:

example: I will compare beer prices (for the same beer that I want to drink that evening) at Wholefoods and the local liquor stores and grocery stores and buy whichever is cheaper...I do this generalyl for all the foods I eat, however, I do have some rules that I follow when shopping for food (I choose to buy organic when I can).

I agree with and understand that SMART shopping is great, being frugal (as in careful about what you purchase with your money as in my example above), and being flat out CHEAP and only buying things because they are less expensive.

I have a few friends that were super CHEAP in college, one lived off free Jimmy Johns white bread, oranges and Aldi boxes of mac and cheese for nearly 2 years...gross. Now that he has a job he is no longer this way.

Is this all about living within ones means? In my experience people do this even though they make more than enough money to purchase higher quality...it's like people are addicted to saving 3 pennies per lb of beef or chicken or whatever.
I agree with what your saying. You can be frugal and not splurge or limit treats. Buy the best bargain not the most expensive and not the cheapest just for being the cheapest. That said I see some people like I'll never order a soda at a restaurant its a waste. Yeah it is expensive but if I'm going out for Pizza on a friday night if I have pizza and a soda or a beer its like wow that was satisfying. If I decide to save $2 and get a water with my pizza I'll probably only enjoy that pizza about 70% as much as I would with a soda. Now I'm wasting money on a pizza I'm not fully enjoying so I'd rather get the soda and really enjoy the experience.

I think this goes to other areas of life as well. If your always saving and never enjoying anything or splurging whats the point.
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Old 12-12-2013, 10:40 AM
 
1,721 posts, read 1,620,589 times
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Quote:
Originally Posted by ragnarkar View Post
Reminds me of how I started out with Frugality.. I bought everything at Walmart, Target, or the Dollar Stores in the beginning (and store brand whenever possible.) After a while, I found I couldn't tolerate the quality of some of the things, I upgraded the brand or went to a more expensive outlet (i.e. Macys.)
I used to buy everything at Wal-Mart too. I didn't realize that they have name brand small appliances made especially for Wal-Mart. I bought a confection/toaster oven (lg) and it quit working within a few months. It was a GE which I trusted. Check the box to see where it's made and for who it's made for.

I agree, try to always buy quality, it will pay off in the long run.
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Old 12-13-2013, 09:32 AM
 
Location: MO->MI->CA->TX->MA
7,021 posts, read 14,413,454 times
Reputation: 5568
As for the statement that "you get what you paid for", I generally agree. Aside for isolated "scams" and mispriced items, I agree that the more you pay, the higher the value you get. However, the marginal (incremental) value you get for each additional $ you spend on a higher quality item diminishes the more expensive the item gets.

Example:

The incremental value you get going from a $1000 to a $2000 used car is probably a lot greater than the value you get going from a $10,000 to a $11,000 car. But the $10,000 and $11,000 cars both are greater value than the $1000-2000 cars.

Paying more generally gets you more value. But the value you get per dollar spent is usually lower. There's no clear cut rule that buying cheaper, lower quality or expensive, higher quality is better. Buy the cheapest and lowest quality thing that'll get the job done to your satisfaction. If you're fine with getting from point A to point B, get a $2000 used car. If you need a flashy ride, the cheapest and lowest quality car that might fit the bill could be a $50,000 BMW.


Quote:
Originally Posted by Littlelu View Post
I used to buy everything at Wal-Mart too. I didn't realize that they have name brand small appliances made especially for Wal-Mart. I bought a confection/toaster oven (lg) and it quit working within a few months. It was a GE which I trusted. Check the box to see where it's made and for who it's made for.

I agree, try to always buy quality, it will pay off in the long run.
My Rice Cooker, bought at Walmart 8 years ago, is still going strong.. but the same can't really be said about may other items I've bought there.
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