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Old 04-25-2016, 05:51 PM   #1
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Frugality list

At the risk of censure for overdoing the LBYM thing, and subverting current any current threads, Here's a re-visitation of some details from an earlier thread, that provided a framework for reducing expenses without sacrificing health or well being. I haven't put a $$$ number on the costs, since with some exceptions, we haven't spent the money in the first place.

Not to say that this could or should be a guideline. Obviously most here would not choose this path... nor should they. Just some possibilities for a fallback position in the case of hardship for whatever cause.

Feel free to add to, or contest any of the listed items. You could use the list as a check to see how much you spend each year on items that are important to you.
.................................................. .................................................. ...
STUFF WE DON'T SPEND MONEY ON

______Life Insurance
______New Clothing
______Haircuts
______Hair styling
______Pedicures/manicures
______Beauty products
______Movies
______Concerts
______Sporting events
______Restaurants (more than $8 meal)
______Books
______Music
______"New" Computers (since 2002)... all refurb or reclaim
______Software... (Twice in lifetime.. total $30) all other "free"
______Car maintenance labor... all DIY except 3 times for major repairs
______Brand vs. Generic foods
______Premium meat or fish
______Financial Advisor
______Lawyer
______Chiro/Massage/Tan etc.
______Tatoos...
______New Home Decor.. (all resale)
______Cars.. since 1998...
______Car Wash and wax... since 1989
______Premium TV channels
______New Bikes or Exercise equipment
______Sporting goods
______Cruises (so far)
______Group trips
______Flying (Airlines)
______Lodging (more than 3 star)
______Premium Gasoline
______Tools (have more than I'll ever use, including welders etc.)
______Housekeeper
______Carpet Cleaning all DIY
______Window/Gutter/Furnace etc. Cleaning... all DIY
______Premium booze/wine... (Winking Owl Shiraz- Aldi)
______Jewelry
______Organic foods
______Brand sodas
______Painting, remodeling
______Weapons
______Subscriptions (AARP only)
______Gambling
______Banking or Credit Card Fees
______Credit card interest charges
______Appliance or Electonics insurance
______Eye Glasses... except for $1readers (since 2000... maybe eye test this year.)
______Pets... (except bird feed)
______Healthcare maintenance... exercise equipment, pool, advisor etc... all included in our senior community membership. (no fees)
______Pest control... DIY
______Only "fee for" is Activities Association (FL).. $6/year

And to add:
______Computer APPS (last year $250 Billion spent in US)
______Shopping at Whole Foods type stores... Mostly Aldi and Walmart
______State and Federal Taxes... Since 1989
______Donations... to causes with very high operating costs that we check out
.................................................. ........................................
We didn't consciously choose this path, and never felt (or even now "feel") that we missed out on anything. It was just a natural result of deciding to retire with less than total safety, and not spend several more years of working to follow the advice of a financial advisor. Absolutely no regrets.
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Old 04-25-2016, 06:06 PM   #2
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My list is much shorter;

Life Insurance
Tatoos
Banking or Credit Card Fees
Credit card interest charges
Appliance or Electonics insurance
Pest control... DIY
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Old 04-25-2016, 07:39 PM   #3
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For each of us, the list is different. I would spend money on some things on Imoldernu's list like

new computers,
car maintenance, and
haircuts.

But, there are some other things that I would NOT spend money on, like

Netflix, Hulu, cable TV
Starbucks
Alcoholic beverages of any kind
Tobacco products of any kind
Recreational/illegal drugs of any kind
Throwing parties
International travel
Boats, private planes, RV's, motorcycles, race cars, race horses, second home... you get the idea
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Old 04-25-2016, 09:57 PM   #4
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Surprised to see life insurance on the list
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Old 04-25-2016, 10:11 PM   #5
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Quote:
Originally Posted by dsp0725 View Post
Surprised to see life insurance on the list
If you are financially independent you should have no need for life insurance.
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Old 04-25-2016, 10:15 PM   #6
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And yet there are grey haired guys on TV selling policies to old retired folks every night so they won't be a burden to their families when they pass.
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Old 04-26-2016, 05:51 AM   #7
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Give me a forum ...
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Isn't that more for "funeral expenses" than actual life insurance?

I remember saying something at work - when I was just starting out - about not needing to have life insurance premiums deducted from my meager pay, since I had no dependents. A secretary, who seemed elderly to me but was probably younger than I am now, started in on me with "You still need to be buried, don't you? Do you want to put that burden on your family?"

Quote:
Originally Posted by RobbieB View Post
And yet there are grey haired guys on TV selling policies to old retired folks every night so they won't be a burden to their families when they pass.
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Old 04-26-2016, 06:38 AM   #8
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Life Insurance
Tatoos...
Housekeeper
Window/Gutter/Furnace etc. Cleaning... all DIY
Painting, remodeling
Pets... (except bird feed)
Tobacco products or drugs
motorcycles (yet)
lawn care

We will spend $ on almost anything that we need and we can get a good value on.
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Old 04-26-2016, 07:22 AM   #9
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I prefer pay someone to tattoo me, rather than doing it myself.
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Old 04-26-2016, 08:17 AM   #10
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Being frugal is probably easier when you don't really want or need the thing you are frugal about. So I'll throw in designer handbags, diamonds, camping equipment, fishing tackle, flying lessons, second homes, and yes, tattoos ��
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Old 04-26-2016, 08:34 AM   #11
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I looked at the list. The "x" indicates the things I am willing or have since retirement, spent money on. So, maybe I'm not frugal, however, I still live well below my means. While many of the x's I spend little money on, example: Flying. It's hard to get to Hawaii by car, and I don't consider $.99 for an app as wild spending. Some of the things of the list seem to put frugality ahead of good common since. i.e. Life Insurance if you are not FI and have small children to care for. Doing your own home repair when you are all thumbs and will have to pay more to have someone correct your mistakes. It's back to the long discussed thread here, 'How miserable do I want to be now, so I can be happy later'

______Life Insurance
__x___New Clothing
______Haircuts
__x___Hair styling
______Pedicures/manicures
__x___Beauty products
__x___Movies
______Concerts
______Sporting events
__x___Restaurants (more than $8 meal)
______Books
______Music
__x___"New" Computers (since 2002)... all refurb or reclaim
__x___Software... (Twice in lifetime.. total $30) all other "free"
__x___Car maintenance labor... all DIY except 3 times for major repairs
__x___Brand vs. Generic foods
______Premium meat or fish
______Financial Advisor
______Lawyer
__x___Chiro/Massage/Tan etc.
______Tatoos...
______New Home Decor.. (all resale)
__x___Cars.. since 1998...
__x___Car Wash and wax... since 1989
__x___Premium TV channels
______New Bikes or Exercise equipment
______Sporting goods
__x___Cruises (so far)
______Group trips
__x___Flying (Airlines)
______Lodging (more than 3 star)
______Premium Gasoline
__x___Tools (have more than I'll ever use, including welders etc.)
______Housekeeper
__x___Carpet Cleaning all DIY
______Window/Gutter/Furnace etc. Cleaning... all DIY
______Premium booze/wine... (Winking Owl Shiraz- Aldi)
__x___Jewelry
______Organic foods
______Brand sodas
__x___Painting, remodeling
__x___Weapons
______Subscriptions (AARP only)
______Gambling
______Banking or Credit Card Fees
______Credit card interest charges
______Appliance or Electonics insurance
__x___Eye Glasses... except for $1readers (since 2000... maybe eye test this year.)
__x___Pets... (except bird feed)
______Healthcare maintenance... exercise equipment, pool, advisor etc... all included in our senior community membership. (no fees)
______Pest control... DIY
______Only "fee for" is Activities Association (FL).. $6/year

And to add:
__x___Computer APPS (last year $250 Billion spent in US)
______Shopping at Whole Foods type stores... Mostly Aldi and Walmart
__x____State and Federal Taxes... Since 1989
______Donations... to causes with very high operating costs that we check out
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Old 04-26-2016, 09:25 AM   #12
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We all find ways to cut in an area that doesn't interest us, in order to fund an area that does.

Imoldernu doesn't pay for cruises - but has had 2nd homes....

I buy few new clothes for myself - but since retiring I dropped some weight - so, yeah, I had to buy a pair of new jeans. Not to mention needing to replace undies and bras periodically - so that makes it impossible to say I don't buy new clothes. My sons are in the adolescent phase of growing like weeks. (15 year old is 6'2"... and still growing). So yeah - I have to buy him new clothes as he outgrows the old stuff... but he's good about taking hand me downs from his dad and has an awesome collection of pre-owned t-shirts from goodwill.

No tattoos, expensive jewelry, hair styling products or beauty products (other than shampoo and rinse... and cheap goodie brand barrettes.) I give the boys haircuts with a flowbie, and DH trims my long hair with scissors.

I do fly airlines. I do travel internationally. I do buy organic foods when the price is reasonable. I don't own a second home. I don't eat at restaurants often. I don't pay for a housekeeper or gardener. (Unless you count when I incentivise the kids to participate in weeding/lawn/scrubbing toilets.)
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