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Old 01-11-2019, 08:15 PM   #21
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I guess this drives home the point that frugal living is still in my bones as I could not enjoy a $100 lunch.
I can and do, occasionally enjoye $300 dinners for two for special celebrations. But I do admit that I'm a little grumpy signing the check!
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Old 01-11-2019, 08:33 PM   #22
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I guess this drives home the point that frugal living is still in my bones as I could not enjoy a $100 lunch.
DW and I enjoy several $50 lunches every week. Which is worse? I don't know but I'm curious what other people think.
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Old 01-11-2019, 08:35 PM   #23
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It was a lunch, but with my wife and beer and wine were also enjoyed.
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Old 01-11-2019, 08:47 PM   #24
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While I have very frugal Scottish genes, I feel $2600 spent on California wine grapes and $800 on a French oak barrel was an extremely cheap deal. However, I'm sure that there are those that think it was an extravagant foolish expenditure and question my sanity and good sense. I will most likely spend the same amount next year although I don't need another barrel, 4 is enough.
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Old 01-11-2019, 08:50 PM   #25
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I would have no problem increasing our expenditures but the 4 children keep me from going too crazy. Hoping to leave something for future generations. But in the meantime, not suffering at all.
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Old 01-11-2019, 09:23 PM   #26
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We are spending our money and don’t care about leaving our kids inheritances. We helped our kids when they were young and needed it.
I think that is a wise plan myself. I am helping my children as I can so that they will not need an inheritance in their 60's to be able to retire. They will inherit whatever is left over.
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Old 01-11-2019, 09:24 PM   #27
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While I have very frugal Scottish genes, I feel $2600 spent on California wine grapes and $800 on a French oak barrel was an extremely cheap deal. However, I'm sure that there are those that think it was an extravagant foolish expenditure and question my sanity and good sense. I will most likely spend the same amount next year although I don't need another barrel, 4 is enough.
What? No investments on aging Scotch Whiskey?
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Old 01-11-2019, 09:31 PM   #28
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I don't mind spending money but I look for a good value but am willing to pay more for quality or convenience.

I’ll spend the money now for quality or convenience, but do I mind it....? Maybe a teensy bit. A couple years back I replaced our Elantra with a (used) Lexus. A definite not-like-me splurge, but it turned out to be the most comfortable, reliable car I’ve ever owned. Still surprised that I spent the dough on a car, though. Just have to remind myself that the kids are through college, the house is paid off, and we’re no spring chickens, but I’m still gonna wait til the Wednesday over-60 discount at Kohl’s to buy that shirt.
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Old 01-11-2019, 11:20 PM   #29
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+1 for being less frugal after retirement. My accumulation days are over and it is time to enjoy life. I have enough money to last my remaining life and then some (to leave it to my only child). No point being as frugal as before.
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Old 01-12-2019, 12:47 AM   #30
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This always has been my philosophy. You quickly forget how little you paid for something when it turns out to be crap.
Yes but you remember forever how MUCH you paid for something if it turns out to be crap too
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Old 01-12-2019, 12:55 AM   #31
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There is a difference between being frugal through deprivation and simply spending for good value. I like the good value part. I don't see a reason to change. Being retired we have more time to price shop and optimize expenses.
+1
I think of getting good value or being frugal as simply smarter shopping. Any fool can through down a thick wad of money to buy something, but the person who can get the same thing for less money is being smarter.

We were just on a Viking Ocean cruise a few months ago, while sitting talking, found out the fellow beside me was made, as he had paid $2,000 more for the same trip as us, at same stateroom level. All the while, he had been assured he was getting the best price possible by the cruise line.
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Old 01-12-2019, 01:40 AM   #32
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There is a difference between being frugal through deprivation and simply spending for good value. I like the good value part. I don't see a reason to change. Being retired we have more time to price shop and optimize expenses.
Well stated.

I think getting the best price for the best value is being money smart, not frugal. To me, frugal implies a certain sacrifice in life style to save money/survive. Being a smart shopper-ie: saving money on one thing and using that savings to treat yourself on another area is just good "business".

The opposite of being frugal should not have to be living the life of a spendthrift. It could be as simple as not sweating spending a little extra money now and then.
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Old 01-12-2019, 02:16 AM   #33
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+1
I think of getting good value or being frugal as simply smarter shopping. Any fool can through down a thick wad of money to buy something, but the person who can get the same thing for less money is being smarter.

We were just on a Viking Ocean cruise a few months ago, while sitting talking, found out the fellow beside me was made, as he had paid $2,000 more for the same trip as us, at same stateroom level. All the while, he had been assured he was getting the best price possible by the cruise line.

Right, it can be more than double the fun of paying full price. You had the enjoyment of the Viking Cruise, you had the fun of finding the bargain price and you can apply the $2K you saved on another cruise or some other bargain adventure.
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Old 01-12-2019, 02:50 AM   #34
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I’m with others who will pay for quality and convenience but want good value. I think we’re all more frugal in some areas vs others. We spend a lot on high-end groceries, dining out and travel because we enjoy these things. However we buy clothes at Target and Kohl’s and drive 12 year old cars with 160K and 130K miles on them. All a matter of priorities.
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Old 01-12-2019, 02:55 AM   #35
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I’ve also struggled with this since I retired over 7 years ago. On paper we could spend more than twice as much as we do, fortunately we’re comfortable just spending modestly. I tell myself we need to be conservative to make sure our money lasts if (FIRECALC) history does NOT repeat, and then we’ll spend more later in retirement - though I realize by then we will probably be so limited physically we can’t enjoy the extra spending. Catch-22? That’s exactly what happened to my Dad, he was only spending about 20% of his income for the last 10+ years if his life - sad. It’s a good question I don’t have an answer for either...

I don’t mind spending money, but I hate wasting money. So I too am always looking for good value, so I’m selectively frugal? And we keep things we buy longer than most people; cars, appliances, consumer electronics, clothes, sports gear, pretty much everything.

However, I also think this is another ER question that yields different answers for SIRE vs FIRE retirees. The more SIRE you are, the less need to LBYM?
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Old 01-12-2019, 06:54 AM   #36
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OP here. Some interesting responses so far. Without tallying all of them, I think it turns out to be about 50/50. I believe that I'll am destined to be frugal, or LBY, or modest, whatever we want to call it, for the rest of my time here on earth. Not that that is a bad thing. We are still as comfortable if not more so than we were most of our lives. Only now we have a bit more financial security. That's a good thing. I simply hate spending more for things than I need to. I do find satisfaction when I've done my best to at least investigate lower priced sources whether it is a $10 item or a $10,000 item. I hardly ever look back and kick myself if I find a better deal afterwards. I did the best I could at the time.

Others have made it to the other side. Not me I think. My thoughts and actions along these lines may change with time. It is in my DNA I think. I'm in full retirement for only 1 year now. I still have time to grow into it.
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Old 01-12-2019, 07:05 AM   #37
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I still like getting good value for my money.

It takes time to change, but after a while one starts to realize that time really is much more valuable than money.

+1 to what Chuckanut said. I will always look for good value in anything I'm considering buying, as I don't like being taken advantage of. On the other hand, I am not averse to putting out a significant chunk of $$ for something that is a priority for us (like our annual winter snowbird trip south). And the older I get, the more I realize that time is the most precious commodity one has, not money. It's unlikely that I will run out of money anytime soon, but you never know when your time might be up.
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Old 01-12-2019, 07:54 AM   #38
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Could have, (maybe have) written a book about frugality. To sum it up... Two cars... total 40+ years old. Could easily buy a new Mercedes @ 45+K. But why? Total miles per year are less than 2000 now.

30 years retired... We are happy with what we have. Our lifestyle is just a habit, and not likely to change.
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Old 01-12-2019, 08:06 AM   #39
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There's always a fine balance between LBYM, frugality, and enjoying the fruits of a lifetime of saving for retirement. I don't think I waster money, per se, but I do freely spend according to our budget.
In my running heyday, I often flew to other states just to run a Half Marathon. I only run short distances now so no need to do that anymore. But I am an avid Bridge player. I spend in the area of $200 per month to play. Does that mean I'm not frugal? No, it means I am spending money I can afford on one of my leisure pursuits. NOT spending that, just to hoard my money, would be acting like a cheapskate.
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Old 01-12-2019, 09:19 AM   #40
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Slightly less frugal. I paid $585 to have a fuel pump replaced in my GTA instead of doing it myself. Mixed feelings about it at the time.
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