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Teens Get Frugal
Old 04-17-2008, 06:59 PM   #1
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Teens Get Frugal

It's almost enough to warm your heart... A new generation discovers LBYM.

Teens turn to thrift as jobs vanish and prices rise: Financial News - Yahoo! Finance
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Old 04-17-2008, 11:18 PM   #2
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I remember what a thrifty shopper my oldest daughter became when she started buying things with money she actually had to work for. It is encouraging to see young folks get an attitude adjustment in regards to spending. Maybe the pains of today's economy will help to slow down the consumption mentality and create a new generation of LBYMers. Time will tell.
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Old 04-18-2008, 01:24 AM   #3
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I remember when i became a thrifty shopper. My butt was on the street sleeping in my car. Damn the good old days! You learn the meaning of a dollar real fast. Im thankful that I had some mode of transportation.
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Old 04-18-2008, 11:00 AM   #4
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My dad and mom brought me up thrifty. Best lesson they could ever impart...
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Old 04-18-2008, 11:37 AM   #5
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i don't relate to the allure of buying retail; never did. having never bought a stick of new furniture besides my bed, i don't discern the difference between new & used. showroom or junk, it's all new to me.

here's a junk/showroom installation at my home. the big round piece i bought for 5 bucks at a flee market. the eagle sculpture is probably worth a few k.



nice junk!...

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Old 04-18-2008, 12:23 PM   #6
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"Thrifty teen" is an oxymoron!
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Old 04-18-2008, 12:29 PM   #7
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But there's a difference between being forced to be frugal out of necessity and being frugal because you have a long-term savings plan. People in the former category tend to start splurging once they have money again versus those that always avoiding unnecessary junk (regardless of how much money they have).
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Old 04-18-2008, 12:29 PM   #8
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"Thrifty teen" is an oxymoron!
Not for those of us who didn't have a life or couldn't get a date. I was able to buy a condo when I was 23 by using all the money I saved in high school and college as the down payment.

So it took a while to realize, but being the guy that all the girls wanted to set up (with someone else) eventually had its upside...
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"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 04-18-2008, 10:18 PM   #9
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But there's a difference between being forced to be frugal out of necessity and being frugal because you have a long-term savings plan. People in the former category tend to start splurging once they have money again versus those that always avoiding unnecessary junk (regardless of how much money they have).
Yep. What's worked for us is asking "Let's see, at $8.50/hour minus taxes, how many hours would you have to work for this lifestyle-enhancing gizmo?"

It works almost as good as asking my 15-year-old daughter "So, would this make you a guy magnet?" Because the idea that she would do anything to impress a guy is like, so lame, and just how did Mom end up marrying you anyway?!?
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Old 04-19-2008, 12:49 AM   #10
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DD wanted to turn down a babysitting opportunity tonight...which would pay her 50-60 bucks for three hours work. I told her if she wasn't willing to work for some spending money, then I wasn't willing to chip-in either. (there aren't many opportunities for a foreign kid to make a buck here, so we do chip-in when she needs a bit of cash).

That changed her mind quick...

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Old 04-19-2008, 11:56 AM   #11
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Rambler,
That's good money for babysitting -- where do you guys live?
Nothing like raising the stakes on them -- I use that strategy so much with my two teen boys but it's still effective. It helps them realize that not everything they have already is secure -- that things they've taken for granted can be retracted. They get that concept really quickly, but need 'reminders' at strategic intervals.
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Old 04-19-2008, 05:36 PM   #12
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Originally Posted by lazygood4nothinbum View Post
i don't relate to the allure of buying retail; never did. having never bought a stick of new furniture besides my bed, i don't discern the difference between new & used. showroom or junk, it's all new to me.

here's a junk/showroom installation at my home. the big round piece i bought for 5 bucks at a flee market. the eagle sculpture is probably worth a few k.
The funny thing is, you could show that $5 piece to the average superficial person these days, and tell them it's worth $5k, and by some famous artist, and they'd go gaga...then tell them it cost you $5 and you have no idea what it's worth - or even what the hell it is - and they would then proceed to turn their nose up at it.
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Old 04-19-2008, 11:54 PM   #13
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i don't relate to the allure of buying retail; never did. having never bought a stick of new furniture besides my bed, i don't discern the difference between new & used. showroom or junk, it's all new to me.

here's a junk/showroom installation at my home. the big round piece i bought for 5 bucks at a flee market. the eagle sculpture is probably worth a few k.



nice junk!...




lol, that is like my parents. They have nice things sitting with/on stuff bought at garage sales and estate sales. Granted a lot of the antiques they buy are nice, but really some of the junk still looks cool though, even if it only cost $1.00
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