Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-25-2016, 10:02 AM   #121
Recycles dryer sheets
 
Join Date: Mar 2013
Posts: 260
Interesting thread/topic. I only skimmed it so far, will read more later.

2 things for me:

My mom grew up in public housing in a single parent household. Her father passed away when she was a toddler from an industrial accident. She discarded nothing, is 85 today and makes most of her own clothes. She instilled confidence in all of us to pursue our goals. I am the youngest of 3, will retire first at 54, but my siblings all will also retire early. We are all frugal and conservative spenders.

Someone else mentioned "work hard/deny myself things today, so I can FIRE and be 'lazy' later". Same here. I have cut my own hair since 1994 (getting easier to do since there is less of it now), have never had a car payment and in general never pay anyone to do anything that I can do myself. I fully manage our home, do landscaping, plumbing, electrical, and major home improvements. My DW doesn't quite espouse those ideals. She has a cleaning lady, but also works and probably brings in 53% of the income, and will retire 3-4 years after me. But she earns money too, and is entitled to spend money on things that she values. And she has always supported my hardcore savings and listened to me say that I was going to retire by 55 since I was in my 20s.

But we hardly live what anyone would call a "frugal" lifestyle. We own 7 cars (3 antiques), travel and dine out often, and have some expensive tastes in some things. We place a high value on some things and work to keep them in our lives... making sacrifices in other areas.

And to be honest, we have just been damn lucky too.....
__________________

__________________
doneat54 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 04-25-2016, 11:12 AM   #122
Thinks s/he gets paid by the post
MasterBlaster's Avatar
 
Join Date: Jun 2005
Posts: 4,359
Quote:
I'm not frugal per se...

It's just that my money seems way better than anything it could buy ! ?

Quote:
Originally Posted by Danmar View Post
Really, how could that be? Can't eat it, drive it, wear it. Can certainly give it away. That must be your end game?
Danmar:

My little quip was a feeble attempt at humor.
__________________

__________________
MasterBlaster is offline   Reply With Quote
Old 04-25-2016, 11:51 AM   #123
Thinks s/he gets paid by the post
 
Join Date: Dec 2009
Location: Alberta/Ontario/ Arizona
Posts: 3,119
Quote:
Originally Posted by MasterBlaster View Post
Danmar:

My little quip was a feeble attempt at humor.
Sorry, didn't see it.
__________________
Danmar is offline   Reply With Quote
Old 04-25-2016, 12:17 PM   #124
Thinks s/he gets paid by the post
 
Join Date: Apr 2010
Posts: 1,674
I don't know if it is hereditary or not.

We have one son who absolutely gets it. And we have a daughter who absolutely does not get it. Cannot figure that out.

In general when we look at our relatives and friends, the ones who 'get it' are retired or FIRED and comfortable.

Many of those who don't get it are still working and wondering how we were able to do it. Plus, when they do retire many will either have debt or will have the bare minimum of incomes.

This situation will get worse moving forward as the number of middle class employment opportunities continues to shrink. What we really notice when we travel is the increasing number of older folks working at Walmarts and in other service type jobs.
__________________
brett is offline   Reply With Quote
Old 04-25-2016, 12:19 PM   #125
Recycles dryer sheets
 
Join Date: Dec 2015
Posts: 220
Quote:
Originally Posted by davismills View Post
My parents were children of the Great Depression and they were my greatest influence regarding frugality.
+1 Rejected it all as a teen. But the seeds had already been planted. As an adult, once I was earning my own money, I got the point.

I like to think I'm not quite as extreme. My mother used to take a box of Kleenex , cut every sheet in half, then put them all back in the box. Some day I'll probably find myself doing that too.
__________________
misshathaway is offline   Reply With Quote
Old 04-25-2016, 08:32 PM   #126
Recycles dryer sheets
 
Join Date: Aug 2015
Posts: 340
My parents provided me with all necessities but could not give me what some of my childhood friends had (fish tank, camera, watch etc) so I started to save on my lunch money. By the time I was close to finish a HS, it was very clear to me that if I want something I need to work hard and save in order to get it. My frugal ways of life style had developed. My wife had similar conditions at her childhood as well. I think that it was because of this part of my character what allowed me to retire early when I could not continue with highly physically demanding, well compensated job.
__________________
VFK57 is offline   Reply With Quote
Old 04-25-2016, 10:08 PM   #127
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 402
Wow, so at $200K a year, you'll be paying a huge amount of tax, compared to your $10K/year salary.

That's a lot of tax going to Uncle Sam, probably $40K-$50K going to taxes


Quote:
Originally Posted by Elbata View Post
I fondly remember my mom saving each paycheck to buy a piece of Ethan Allen furniture (on layaway). Or packing lunch (extra for friends) when mom and dad went golfing. So many little stories, but adds up to dad retiring at 47.

I happily live on $10K/year, but soon at 4% SWR, it will be ~$200K. Thanks to parents for planting the seeds of frugality.
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 04-25-2016, 10:16 PM   #128
Recycles dryer sheets
 
Join Date: Aug 2013
Posts: 402
A lot of times, I only order the appetizer as a meal, because it already gets me full. Like a plate of Calamari gets me full when I go to an Italian restaurant. And when I go to a Vietnamese restaurant, ordering 3 appetizers like Shrimp Roll, Fried Tofu, and Fresh Veggie roll already gets me full. And yeah, Dimsum in an authentic Chinese restaurant ... a few plate of those, and who needs a full course meal

Quote:
Originally Posted by dtbach View Post

But now I have money coming in from several sources that is much more than I need, so not so frugal anymore (i.e. I actually order an appetizer now! LOL)
__________________
No to consumerism, Living a simple life, enjoying the experience - not the material stuff
cyber888 is offline   Reply With Quote
Old 04-25-2016, 10:51 PM   #129
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,387
"Money is much more exciting than anything that it buys" -- Mignon McLaughlin

Quote:
Originally Posted by MasterBlaster View Post
I'm not frugal per se...

It's just that my money seems way better than anything it could buy !
Quote:
Originally Posted by Danmar View Post
Really, how could that be? Can't eat it, drive it, wear it. Can certainly give it away. That must be your end game?
You can count it, admire it, the number on your laptop screen. If you invest it right, you can watch it grow.
__________________
"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 04-26-2016, 12:12 AM   #130
Full time employment: Posting here.
old woman's Avatar
 
Join Date: Dec 2005
Posts: 551
My parents lived in the great depression. We grew up with no excess money and our parents talked about money to us. Some of my earliest memories are about money. At 7 my dad was injured at work so we went to work picking green beans by the pound so I was earning pennies a day to me a dime was a lot of money. Soda was a dime in the fields but I couldn't let go of an hour or two income for a soda. My parents talked about shopping telling us we could have bananas if we found them for 10 cents a pound or mom saying she wasn't paying 10 cents a pound for potatoes. I heard mom complain about not being able to afford a dress because one of the kids always needed shoes. Then I learned about interest income, free money for having money in the bank. That is when I dreamed of fat bank account supporting me without work I was still a preteen. Now I have about a million invested and don't want to spend it because I love getting free money. I can spend on things I value and try to spend a little more but still look at the prices on everything I buy and decide to not spend when I don't get value.
__________________
old woman is offline   Reply With Quote
Old 04-26-2016, 07:07 AM   #131
Recycles dryer sheets
 
Join Date: Feb 2008
Posts: 452
Quote:
Originally Posted by Which Roger View Post
You are just like my sister. My candy would be gone within a day or two. Then I would hope that she'd feel sorry for me and hand over some of hers. It didn't work.
HAHA, this sounds like my kids now, but the sister does feel sorry sometimes and gives her brother, but it must be a trade or he must do something in return.
__________________
aida2003 is offline   Reply With Quote
Old 04-26-2016, 08:47 AM   #132
Thinks s/he gets paid by the post
Rustic23's Avatar
 
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,624
We buy Great Value brand, rather than Name Brand, if the quality has been proven similar. Is that frugal, or just common since? On the other hand, a friend, buys Name Brand always as he believes quality is always better. Here again, is paying for over quality, non-frugal? i.e. name brand razors that give 10% longer life, at 20% more cost and same shaving experience.
__________________
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Old 04-26-2016, 08:58 AM   #133
Moderator
Ronstar's Avatar
 
Join Date: Aug 2007
Location: A little ways southwest of Chicago
Posts: 9,335
I'm not nearly as frugal as my parents and grandparents were. I'm somewhat impulsive and occasionally go crazy and buy something stupid.
__________________
Ronstar is offline   Reply With Quote
Old 04-26-2016, 11:22 AM   #134
Recycles dryer sheets
 
Join Date: Apr 2011
Location: Castro Valley
Posts: 400
I don't know how I became frugal, I just know that I don't like to waste money. I don't mind spending money as long as it is an efficient use of money. Also, I don't mind buying more expensive items (car, furnishings, home upgrades, etc.) as long as I really really want them and I get satisfaction from owning them. I don't like to spend money on things that have very little value to me and almost no effect on my life or happiness. Frugal not cheap!
__________________
jkern is offline   Reply With Quote
Old 04-26-2016, 11:28 AM   #135
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Chuckanut's Avatar
 
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 6,315
My old grand pappy used to say " I would rather spend a dollar on something I enjoy, than 25 on something I don't care for". He was referring to cigars, but I think his point is well said. Being frugal means getting a good deal on something one truly wants, needs, enjoys, etc. It does not mean buying a 25 cigar that is unpleasant to smoke.
__________________
The worst decisions are usually made in times of anger and impatience.
Chuckanut is offline   Reply With Quote
Old 04-27-2016, 12:39 PM   #136
Recycles dryer sheets
Lawrence of Suburbia's Avatar
 
Join Date: Mar 2009
Location: Newcastle, WA
Posts: 109
I was a spending maniac/would-be rock star until I hit age 30. Then I got a day job; my father finally took me aside and twisted my arm in no uncertain terms to save at least 15% of my paycheck into the 401k. It became a habit (now 20%) and I learned to "get by" on the remainder. No cable, no Internet, no fancy restaurants, no Porsche ... vacations are maybe once every 2-3 years at a friends' condo in Mexico (i.e., free excepting food & airfare) ... but sometime after I'm 66 or so (hey, I started saving late) I shall have "early" retirement; in a sort of genteel poverty. But I will say good-bye to the minimum-wage job in (hopefully) about three years ...
__________________

__________________
Lawrence of Suburbia 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


Similar Threads
Thread Thread Starter Forum Replies Last Post
Are you unnecessarily frugal? Midpack FIRE and Money 42 02-13-2010 03:45 PM
Are you frugal or a cheap b@$t@rd? Grizz FIRE and Money 108 09-29-2007 08:50 PM
How frugal is too frugal? setab FIRE and Money 36 05-18-2006 01:51 PM
Are you frugal or are you stingy? Martha Other topics 60 03-25-2006 03:30 PM
So, frugal people, what DO you allow yourselves? LRAO FIRE and Money 131 11-25-2005 01:21 PM

 

 
All times are GMT -6. The time now is 10:20 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.