Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 12-30-2013, 09:28 PM   #161
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Mulligan's Avatar
 
Join Date: May 2009
Posts: 7,369
Quote:
Originally Posted by haha View Post
Scanning these posts, it seems that almost all or all of us are naturally frugal and we don't really want to spend much more than we are already comfortably spending. I know for myself, there are many things I could spend money on that would not increase my satisfaction at all, and might even decrease it. When I had a wife and kids at home, I enjoyed spending some money on them. Ha
I kind of grew into modest frugality over time. Frequent purchasing of cars, clothes, and "toys" have lost their luster to me in relation to the pleasure of saving. I do not deprive myself, but I don't need a sugar high anymore by purchasing things that don't increase "my satisfaction" as you mentioned.
__________________

__________________
Mulligan is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-30-2013, 09:40 PM   #162
Recycles dryer sheets
 
Join Date: Oct 2007
Posts: 123
About approximately the same as 2012, a paid off house and cars, no debt, son is in college, a few million net worth, am glad and feel blessed I could spend what we spent.

-MINT CATEGORY SPENDING
Total $103,649.46

Kids $22,136.80
Home $15,083.90
Health & Fitness $10,376.61
Auto & Transport $10,147.53
Food & Dining $9,936.28
Taxes $5,247.67
Bills & Utilities $5,247.65
Personal: Care $5,053.81
Travel $4,876.67
Financial $4,734.92
Gifts & Donations $4,727.93
Shopping $2,122.89
Pets $1,722.63
Entertainment $1,610.92
BusinessServices $534.25
Fees & Charges $89.00
__________________

__________________
rkser is offline   Reply With Quote
Old 12-30-2013, 09:58 PM   #163
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Quote:
Originally Posted by Mulligan View Post
I kind of grew into modest frugality over time. Frequent purchasing of cars, clothes, and "toys" have lost their luster to me in relation to the pleasure of saving. I do not deprive myself, but I don't need a sugar high anymore by purchasing things that don't increase "my satisfaction" as you mentioned.
I don't know that I'm all that frugal, even. I am just such a rebel, and I really resent being told by Madison Avenue that I need or should have things that I don't even want.

But if there is something that I really want, I'll buy it. The hard part (still) is knowing what I really want. I am learning that part and I am a lot better at it than I was a few years back.

Besides, I spent over $30K this year! So, I guess that is that.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 12-30-2013, 10:02 PM   #164
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,074
Quote:
Originally Posted by W2R View Post
But if there is something that I really want, I'll buy it. The hard part (still) is knowing what I really want.
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 12-30-2013, 10:05 PM   #165
Administrator
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 38,826
Quote:
Originally Posted by REWahoo View Post
Well... I WAS thinking about consumer stuff.....
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities.

- - H. Melville, 1851
W2R is offline   Reply With Quote
Old 12-30-2013, 10:47 PM   #166
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
We just wised up a couple of years ago and realized we would be happier with less stuff and more free time.

I still have a ways to go compared to many people here on spending, but we have been doing some things right in terms of income taxes, ACA subsidies and financial aid.

Today we are researching getting a car for one of the kids. We almost bought a sporty, brand new, all wheel drive vehicle and paid cash. Partly the lower budgets posted here made me rethink that and we are looking at a used, "catastrophically boring", front wheel drive sedan with a .99% Penfed loan instead.

We are still kind of amazed at how much we have been able to cut and not miss. Actually getting rid of expense items like fast food a few times a week has saved money as well as a lifestyle improvement.
__________________
daylatedollarshort is online now   Reply With Quote
Old 12-31-2013, 02:10 AM   #167
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,125
Quote:
Originally Posted by Mulligan View Post
I kind of grew into modest frugality over time. Frequent purchasing of cars, clothes, and "toys" have lost their luster to me in relation to the pleasure of saving. I do not deprive myself, but I don't need a sugar high anymore by purchasing things that don't increase "my satisfaction" as you mentioned.
While I respect your point of view, I don't understand how someone can get pleasure from saving in retirement? What is the point? More money left to heirs or charities? You could view this as a worthy goal for sure but having a savings fetish once "you have already won the game" is certainly not something I personally strive for. I certainly agree that spending for spending sake is a waste of money. Maybe you need to find more useful and thus more enjoyable uses of your money? Anyway, a good problem to have I guess.
__________________
Danmar is offline   Reply With Quote
Old 12-31-2013, 05:44 AM   #168
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Amethyst's Avatar
 
Join Date: Dec 2008
Posts: 5,874
I think it is a game for some. "How much less can I pay for this" becomes its own point, instead of "Can I get this for less, because I can't afford full price."

Others may feel they've won the game for now, yet the score may turn against them at some point.

Amethyst

[QUOTE=Danmar;1396729]While I respect your point of view, I don't understand how someone can get pleasure from saving in retirement? What is the point [of] having a savings fetish once "you have already won the game" ./QUOTE]
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success to be able to spend your life in your own way. Christopher Morley.
Amethyst is offline   Reply With Quote
Old 12-31-2013, 08:55 AM   #169
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 270
For the big ticket items it is kind of a game for me to get the "best deal" for high quality products. I do not sweat the smaller stuff (yet). I am starting to notice the higher monthly costs for Internet, DirecTV and Cell phones. I will probably try to get these cost lower in 2014. I have not resorted to coupon clipping yet ....
__________________
bradaz2488 is offline   Reply With Quote
2013 expenses
Old 12-31-2013, 09:14 AM   #170
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
2013 expenses

Quote:
Originally Posted by Danmar View Post
While I respect your point of view, I don't understand how someone can get pleasure from saving in retirement? What is the point? More money left to heirs or charities? You could view this as a worthy goal for sure but having a savings fetish once "you have already won the game" is certainly not something I personally strive for. I certainly agree that spending for spending sake is a waste of money. Maybe you need to find more useful and thus more enjoyable uses of your money? Anyway, a good problem to have I guess.

I don't think Mulligan was describing a "savings fetish", just choosing to spend based on the value of products to him. That certainly resonates with me. If some savings result, that's great. Otherwise, provided that spending stays within the budget, no big worries. One example of value spending has been cutting cable. I did it after I realized that I had not turned on my TV for over 6 months, and I do not miss it at all. Instead, I spent that money on travel. If I can save a little in ER, I intend to sock it away in my TFSA, where I can access it for discretionary use without paying further taxes. It's reassuring for those of us who are not in your financial league to have a little cushion like that. 😄
__________________
Meadbh is offline   Reply With Quote
Old 12-31-2013, 09:17 AM   #171
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,125
Quote:
Originally Posted by Amethyst View Post

Others may feel they've won the game for now, yet the score may turn against them at some point.

Amethyst

Quote:
Originally Posted by Danmar View Post
While I respect your point of view, I don't understand how someone can get pleasure from saving in retirement? What is the point [of] having a savings fetish once "you have already won the game" .
Agree that saving in case you run out in the future could be a valid objective. In fact we are guilty of this . I really hate to sell stock, and haven't ,knowing full well at some point I need to (unless I intend to leave a huge estate). Effectively we are saving.

Another objective might be to save for a future large expenditure like a car or big trip, or to help a child with a house down payment.

But other than this I think some people get pleasure looking at their investment or cash balances and seeing them increase. I am a little guilty of this. Who doesn't like to see their net worth increase? But in my case I don't try to restrict spending to make it happen. Although, I admit that by not spending more than the income from the portfolio, I am effectively saving.

Maybe I am over thinking this, but I am always a little surprised that given improved finances some people just can't think of anything to spend it on. Seems a little defeatist to me. Anyway to each their own.
__________________
Danmar is offline   Reply With Quote
Old 12-31-2013, 09:25 AM   #172
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,125
Quote:
Originally Posted by Meadbh View Post
I don't think Mulligan was describing a "savings fetish", just choosing to spend based on the value of products to him. That certainly resonates with me. If some savings result, that's great. Otherwise, provided that spending stays within the budget, no big worries. One example of value spending has been cutting cable. I did it after I realized that I had not turned on my TV for over 6 months, and I do not miss it at all. Instead, I spent that money on travel. If I can save a little in ER, I intend to sock it away in my TFSA, where I can access it for discretionary use without paying further taxes. It's reassuring for those of us who are not in your financial league to have a little cushion like that. ��
OK fetish might be a little strong. Look don't get me wrong, we would have cut our cable off long before you did. We are constantly working our cable/telco/internet expenses down in our places. If you don't they rip you off.
See my last post but my point is you can only spend it or give it away, saving it (in retirement) just defers the inevitable. Can't take it with you. So why not get some fun out of it while you are still here? If you can't think of any way to do this, kind of sad. Nothing to do with the financial league you play in.
__________________
Danmar is offline   Reply With Quote
Old 12-31-2013, 09:44 AM   #173
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
What I have found that is that while I have more money, I desire stuff less and less. I have enough toys that should last me a while. Anymore and I run out of place to keep them. And many of the new electronic toys and gadgets do not interest me at all.

We have also become fastidious. When eating out, we often noted how something was not to our liking, that we could have done the same dish better at home because we enjoy cooking. We become harder to please as we age.

Of course if we went to higher-tiered restaurants, the experience would be different, but we are not rich to do that too often, plus doing that more often then it becomes old-hat and the joy is diminished.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is online now   Reply With Quote
Old 12-31-2013, 09:51 AM   #174
Full time employment: Posting here.
 
Join Date: Nov 2008
Location: Harrogate, UK
Posts: 864
Wasn't there somebody on here a couple years ago who only spent $800+ TOTAL for the year on food? That set off some people questioning how they could do that. I'm still not sure how they did it.
__________________
F4mandolin is offline   Reply With Quote
Old 12-31-2013, 09:53 AM   #175
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by Danmar View Post
OK fetish might be a little strong. Look don't get me wrong, we would have cut our cable off long before you did. We are constantly working our cable/telco/internet expenses down in our places. If you don't they rip you off.
See my last post but my point is you can only spend it or give it away, saving it (in retirement) just defers the inevitable. Can't take it with you. So why not get some fun out of it while you are still here? If you can't think of any way to do this, kind of sad. Nothing to do with the financial league you play in.

I agree. But there are some people who derive their enjoyment from watching their NW grow (my mother with two pensions) or enjoy giving it away (my grandmother). I would say that my mother got a little irrational about it. When she became ill and needed home care, she didn't want to spend the money because she was "saving for a rainy day". I informed her that it was pouring!
__________________
Meadbh is offline   Reply With Quote
Old 12-31-2013, 09:54 AM   #176
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,017
Quote:
Originally Posted by NW-Bound View Post
What I have found that is that while I have more money, I desire stuff less and less. I have enough toys that should last me a while. Anymore and I run out of place to keep them. And many of the new electronic toys and gadgets do not interest me at all.

We have also become fastidious. When eating out, we often noted how something was not to our liking, that we could have done the same dish better at home because we enjoy cooking. We become harder to please as we age.

Of course if we went to higher-tiered restaurants, the experience would be different, but we are not rich to do that too often, plus doing that more often then it becomes old-hat and the joy is diminished.

My sentiments exactly.
__________________
Meadbh is offline   Reply With Quote
Old 12-31-2013, 10:00 AM   #177
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
audreyh1's Avatar
 
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 16,455
If I want to spend more, all we have to do it travel to Europe! I never saw my credit card rack up expenses so fast!!!!!

It was awesome though - we had a great time! Even though we spent twice what was expected.

We have family there - a brother with two little ones who are like grandchildren to us - so good reason to visit at least once a year.
__________________
Well, I thought I was retired. But it seems that now I'm working as a travel agent instead!
audreyh1 is offline   Reply With Quote
Old 12-31-2013, 10:05 AM   #178
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,412
The whole ideal behind a safe withdrawal rate is the portfolio will sometimes generate excess returns, and these need to be saved to offset the other more difficult times when our portfolios decline.

Seems to me most retired people here have targeted a withdrawal rate and are sticking to it even while portfolio returns are rosy and might support a higher level of spending. That's the whole idea, and why the withdrawal rate is safe. How easily we forget the bad times when we lose sleep worrying about going broke.
__________________
MichaelB is offline   Reply With Quote
Old 12-31-2013, 10:13 AM   #179
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,391
Quote:
Originally Posted by audreyh1 View Post
If I want to spend more, all we have to do it travel to Europe! I never saw my credit card rack up expenses so fast!!!!!
There were several years when we took two trips abroad a year, plus two shorter domestic ones too. And my wife still found time to take trips on her own to the Orient with her friends.

Nothing like travel to drain your coffer. Heh heh heh... But too much of it, then it becomes work. I do not see how some people can be a perpetual traveler. I need a place I call my own so I can go back to.

A deck perched over a hillside, with the summer breeze blowing, a book in my lap, a glass of pastis within reach, flamenco music by Armik playing on the stereo... It is difficult to see how life can be better. How does more money buy more pleasure than that?
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is online now   Reply With Quote
Old 12-31-2013, 10:31 AM   #180
Thinks s/he gets paid by the post
jollystomper's Avatar
 
Join Date: Apr 2012
Posts: 1,357
Quote:
Originally Posted by NW-Bound View Post
What I have found that is that while I have more money, I desire stuff less and less. I have enough toys that should last me a while. Anymore and I run out of place to keep them. And many of the new electronic toys and gadgets do not interest me at all.

We have also become fastidious. When eating out, we often noted how something was not to our liking, that we could have done the same dish better at home because we enjoy cooking. We become harder to please as we age.

Of course if we went to higher-tiered restaurants, the experience would be different, but we are not rich to do that too often, plus doing that more often then it becomes old-hat and the joy is diminished.
I agree with some of this. Now that I am FI, time has become a much more valuable commodity than money. For example, for Christmas I finally decided to buy a PS3 (didn't get a PS4 due following the IT rule of avoiding the cost of being "bleeding edge") - which I hadn't bought before not because of cost, but because of "when I am going to find the time to enjoy it?" I could upgrade every TV in the house without any financial impact... but them I feel obligated to spend more time watching TV. In a sense, every "toy" has a time "price", which for me is more important that the financial price.

However, for restaurants we are probably easier to please now, since someone else is doing the cooking, and we're usually out with family and/or friends more for the social interaction than for the food.
__________________

__________________
Current target FIRE date: Under negotiation, can happen anytime.
jollystomper is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 08:38 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.