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Old 03-09-2009, 09:36 PM   #1
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The New Frugality: No Passing Fad - Room for Debate Blog - NYTimes.com

Where is the Complete Cheapskate when ya need him. Wonder if he ever thought he'd be seen as cutting edge.
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Old 03-09-2009, 10:26 PM   #2
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I'm getting a bit tired of these stories. In a few years, when people are back to their old spending ways I wish some one would drag out these stories and ask the writers - how could you be so wrong?

Also, the comparison to the depression - getting old. We are at 8.1%, the depression near 30%. It is similar to someone who applies the term Holocaust to every war or mass killing - it demeans what holocaust.
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Old 03-10-2009, 12:58 AM   #3
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It is maybe good to wait a few years before we decide whether the "new frugality" is here to stay or long gone.

Ha
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Old 03-10-2009, 05:35 PM   #4
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I'm part of the 'old frugality'.
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Old 03-10-2009, 06:19 PM   #5
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Itís a new hobby for me:

The last times I tried shopping in Chinatown for produce, it was crowded and after work. I always felt like ďa ghostĒ as the clerks would look through me, didnít see my money and pretended to speak no English although they looked fifth generation. Well I tried it again today, leisurely retiree mid-day style. Wow, so nice and friendly, and Iíve never seen prices like theirs: navel oranges 20 cents each, 6-oz fresh California blueberries $1.49, mushrooms $1.99/lb, avocado .79 each, forgotten which items were .49, .69/ lb., sweet potatoes, broccoli, tomatoes, six garlic bulbs, an apple, tofu, fresh pasta, got a heavy bag totaling $9.10.
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Old 03-10-2009, 06:56 PM   #6
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I'm getting a bit tired of these stories. In a few years, when people are back to their old spending ways I wish some one would drag out these stories and ask the writers - how could you be so wrong?

Also, the comparison to the depression - getting old. We are at 8.1%, the depression near 30%. It is similar to someone who applies the term Holocaust to every war or mass killing - it demeans what holocaust.
I just had a peanut butter sandwich with one of my meds. Pretty frugal dinner. But tomorrow, I'm going to grill a steak! Assuming the market doesn't tank a 1,000 points.
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Old 03-10-2009, 07:57 PM   #7
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It’s a new hobby for me:

The last times I tried shopping in Chinatown for produce, it was crowded and after work. I always felt like “a ghost” as the clerks would look through me, didn’t see my money and pretended to speak no English although they looked fifth generation. Well I tried it again today, leisurely retiree mid-day style. Wow, so nice and friendly, and I’ve never seen prices like theirs: navel oranges 20 cents each, 6-oz fresh California blueberries $1.49, mushrooms $1.99/lb, avocado .79 each, forgotten which items were .49, .69/ lb., sweet potatoes, broccoli, tomatoes, six garlic bulbs, an apple, tofu, fresh pasta, got a heavy bag totaling $9.10.
Good for you! I found staring into their eyes works well when we go shop. A bit of "aggression" tends to work wonders. Always finish with a smile Have a nice day.
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Old 03-10-2009, 08:20 PM   #8
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It’s a new hobby for me:

The last times I tried shopping in Chinatown for produce, it was crowded and after work. I always felt like “a ghost” as the clerks would look through me, didn’t see my money and pretended to speak no English although they looked fifth generation. Well I tried it again today, leisurely retiree mid-day style. Wow, so nice and friendly, and I’ve never seen prices like theirs: navel oranges 20 cents each, 6-oz fresh California blueberries $1.49, mushrooms $1.99/lb, avocado .79 each, forgotten which items were .49, .69/ lb., sweet potatoes, broccoli, tomatoes, six garlic bulbs, an apple, tofu, fresh pasta, got a heavy bag totaling $9.10.
I could sure go for a 20 cent orange. Your Chinatown is so much bigger than ours, there is some competition there. Maybe if I fool around a while I can find something similar.

Can you walk or do you have to ride a bus to get there?

Chinatown is a lifetime hobby.

Ha
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Old 03-10-2009, 08:27 PM   #9
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I could sure go for a 20 cent orange. Your Chinatown is so much bigger than ours, there is some competition there. Maybe if I fool around a while I can find something similar.

Can you walk or do you have to ride a bus to get there?

Chinatown is a lifetime hobby.

Ha
My dear MIL would give you a whole bag. All you need to do is pick em
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Old 03-10-2009, 11:38 PM   #10
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I am enjoying this new "frugality trend." It used to be that all my friends would want to go out, and I am the only cheap one who would rather cook a simple house meal. Now, all of them want to stay in and cook. I am saving a lot of money.

I love Chinatowns, but we don't have one where I live. Flushing, NY is probably my favorite. Monterey Park, CA is also excellent.
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Old 03-11-2009, 01:28 AM   #11
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My dear MIL would give you a whole bag. All you need to do is pick em
Looking forward to meeting your MIL, I'll bring my own bag.

I've been meaning to learn to shop in Chinatown; that to-to list item took 6 mos. to get to. It is walkable but I usually take the bus up the hill. Still want to check out the theory that the prices gradually decline with distance from Chinatown gate. So much to explore, so little time.

Yes, frugality can be a fun hobby; I think it was Nords in the FAQ section who pointed out that there is more time to shop after retirement. I budgeted for eating lunch out more often but the shorter retirement days don't require that very often. Ah, three or four hours out instead of nine or ten.
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Old 03-11-2009, 07:52 AM   #12
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Here you go Dex. Another article for you.

Extreme cheapskates: Tightwads revel in frugality
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Old 03-11-2009, 09:25 AM   #13
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This time it'll probably stick. Pre-crash (2007), the average baby boomer retirement account was about $55k, I don't have the number but now it's probably around $35k since those accounts were heavily weighted (>60%) towards stocks. Additionally the cat is finally out about pension funds, which are under funded.

As a group, the boomers have been overspending their income by about 2% per year for 25 years, and are only finally giving up now because there's no bubble to continue to fund the imbalance. So on the whole I expect frugality to be the norm for the next few decades as boomers (and the other generations) repair their balance sheets.
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Old 03-11-2009, 10:06 AM   #14
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This time it'll probably stick. Pre-crash (2007), the average baby boomer retirement account was about $55k, I don't have the number but now it's probably around $35k since those accounts were heavily weighted (>60%) towards stocks. Additionally the cat is finally out about pension funds, which are under funded.

As a group, the boomers have been overspending their income by about 2% per year for 25 years, and are only finally giving up now because there's no bubble to continue to fund the imbalance. So on the whole I expect frugality to be the norm for the next few decades as boomers (and the other generations) repair their balance sheets.
Whatever happened to those old Money magazine forumlas, where you should have 4-5 times your age in retirement? For instance, a 40 year old should have $200K in a 401K??
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Old 03-11-2009, 10:28 AM   #15
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Whatever happened to those old Money magazine forumlas, where you should have 4-5 times your age in retirement? For instance, a 40 year old should have $200K in a 401K??
Think about who dreamt up such foolishness and your question is self-answering. Of course, you would need to save that much if you needed to offset the financial crook's entity's fees.

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Old 03-11-2009, 03:09 PM   #16
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I just had a peanut butter sandwich with one of my meds. Pretty frugal dinner. But tomorrow, I'm going to grill a steak! Assuming the market doesn't tank a 1,000 points.
The market just barely closed up today. Grill those steaks Dawg
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Old 03-11-2009, 03:18 PM   #17
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I will plead guilty to extravagance for buying my Mustang, but I paid cash, so no guilt is felt here.
I've been training dh2b in Beginning and now Advanced Cheapskateness for almost 4 years now. His previous life was just the opposite.
My biggest reward is when he out-cheaps me!
But seriously, folks, in my pre-FIRE life, I was always astounded at the material goodies co-w*rkers told me they treated themselves and their kids/grandkids to. And in the next breath, they would complain about how much longer they would have to w*rk to pay for <subsitute any bauble>.
And the times they are a-changing...
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Old 03-11-2009, 05:40 PM   #18
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Here you go Dex. Another article for you.

Extreme cheapskates: Tightwads revel in frugality
Txs - one of the reasons I ERd was because I didn't want to die with a large bank account. I hope these people get the message.

As Nords mentioned in his post about "The Fog of Work" what you do influences how you think. Those people taking frugal living to an extreme are creating a mental state of scarcity. They are taking pride in their denial just as those religious zelots do who beat themselves until they bleed.

The people in the article have always been out there and the current economic situation now justifies and reinforces their behavior. They will most likely contiue it after the economy gets better.

Seeing the world through the eyes of bounty allows you to appreciate what you have, your blessings, opportunities and nature that leads you to be efficent because it honors what you have.
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Old 03-11-2009, 08:46 PM   #19
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Txs - one of the reasons I ERd was because I didn't want to die with a large bank account.
I don't think I have to worry about that any more.
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Old 03-11-2009, 10:06 PM   #20
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I don't think I have to worry about that any more.
It's nice to see you laugh.....
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