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Can being frugal be taken too far?
11-16-2010, 05:44 PM
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#1
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Thinks s/he gets paid by the post
Join Date: Jul 2007
Location: St. Louis
Posts: 1,563
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Can being frugal be taken too far?
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11-16-2010, 06:08 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2008
Posts: 13,147
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I think, yes, frugality can be too far if safety is an issue.
For example, not fixing a broken down car (what..change the brakes and tires? Do I have to?) or an old furnace. The risk isn't worth the savings. Plus, remember that old commercial (pay me now, or pay me later)?
On the otherhand, if safety or big losses later (such as liability) is not an issue, that's a different matter.
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Have you ever seen a headstone with these words
"If only I had spent more time at work" ... from "Busy Man" sung by Billy Ray Cyrus
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11-16-2010, 06:31 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 3,323
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Weeeeellll, there was the Witch of Wall Street years ago who let her son's leg go cause she didn't want to spend the money to take him to the Dr. He lost his leg. Is that what you mean about taking frugality too far maybe
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11-16-2010, 06:44 PM
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#4
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Seems like a few blind spots on customer & employee relations...
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11-16-2010, 06:48 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Oct 2003
Posts: 5,105
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It is a story I've seen before. People raise in the depression who can not spend money on themselves but can give it to others - 500K to charity - and treat the workers fairly - pays them for sick days they do not take.
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11-16-2010, 07:07 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2007
Posts: 7,746
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Sweet! You can use tarps for roofing instead of paying thousands to reshingle??
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11-16-2010, 07:32 PM
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#7
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Recycles dryer sheets
Join Date: Dec 2008
Posts: 119
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Thanks for sharing this link. I thought I was cheap.
Surely this smart businessman can do a cost/benefit analysis and see at a certain point it makes economic sense to replace a roof.
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11-16-2010, 07:36 PM
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#8
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Thinks s/he gets paid by the post
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,698
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I've tried the frugal thing, I'm not too good at it and DW is worse, much worse in fact.
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11-16-2010, 07:53 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,296
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...and he got free publicity for his company....
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11-16-2010, 08:15 PM
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#10
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Full time employment: Posting here.
Join Date: Mar 2008
Posts: 654
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I wondered as I read through the article:
Would he invest and watch other peoples money closely?
If so he might be the best company out there to help investors.
Steve
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11-16-2010, 10:12 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by Stevewc
I wondered as I read through the article:
Would he invest and watch other peoples money closely?
If so he might be the best company out there to help investors.
Steve
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I used to have an account there.
Ha
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11-17-2010, 06:10 PM
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#12
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Dryer sheet wannabe
Join Date: Jun 2009
Posts: 23
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Absolutely nothing to do with frugality. Re-read the end of the article. Who would spend money on repairs when the building is going to be torn down? (maybe the U.S. government, but we won't go there)
quote:
Wedbush said he took steps to fix the roof but stopped because the house has extensive mold, which he blamed on hillside drainage problems.
"I've had to live in that place and I've got some potential infections from the mold," Wedbush said. "My wife won't even enter the house. We've suffered."
He said he probably would demolish the house and buy another one nearby.
end quote
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11-17-2010, 06:15 PM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Do not stop there. One needs a smaller piece of tarp to cover a leaky motor home than for a house.
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11-17-2010, 06:18 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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Quote:
Originally Posted by kypix
Absolutely nothing to do with frugality. Re-read the end of the article. Who would spend money on repairs when the building is going to be torn down?
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Most of us who own homes keep an eye on the condition of our roof and take action to repair or replace when a leak develops. He obviously delayed taking care of the initial problem and allowed a mold situation to get out of hand. Maybe not frugal, more like cheap...
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Numbers is hard
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11-17-2010, 06:32 PM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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When we buy things, we assume the responsibility of keeping them reasonably maintained. A frugal person who buys a home buys one that is small and modest enough that he/she can afford the maintenance cost, taxes, and insurance.
Had he been frugal, perhaps he would have bought a less expensive home (perhaps a smaller home with less than 500 square feet?), and kept it up fastidiously.
But he did not. He is a spendthrift, because he threw his money away buying a home that he then allowed to deteriorate so badly. I could do the same spending $100K/year, buying a mansion, and then letting it fall apart. That just isn't frugal IMO.
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