Joe Dominguez's Wife Says Frugality Ain't So Hot

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http://lifestyle.msn.com/MindBodyandSoul/CareerandMoney/Articlelhj.aspx?cp-documentid=63333

Vicki Robin, 60,

Back-to-basics guru

For Robin, who coauthored 1992’s Your Money or Your Life, a bible of the back-to-basics movement, money is the great distraction from our limited time on the planet. What inspired the book, she says, was “seeing how many people were suffering from the culture of  ‘more is better,’ and there’s never enough.”

When people figure out how much money they’re making, Robin says, they usually leave out the real expense: the time, trouble and stress of making it. “You trade your hours for money,” she says. “When you buy a latte, that might be a half-hour of your life.”

Robin also lived frugally, cutting her own hair and maintaining her car, even rebuilding her engine, calling that “very empowering.”

She cheerfully concedes that now that she’s 60, her need for creature comforts “has probably doubled. I actually have a comfortable bed now, and I go to the gym. I even have a cell phone!”

Robin says her sense of spiritual fulfillment is what leads her to feel she has “enough.”

The bottom line:  If that latte takes up a half-hour of your life, make sure you really enjoy it. Stay connected to the things that make you happy.

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[dex]

The bottom line: If that latte takes up a half-hour of your life, make sure you really enjoy it. Stay connected to the things that make you happy.
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I think that quote is key. We humans have a problem with happiness. We are never satisfied with the happiness we have. We always want more. We can not enjoy one latte a week. It must be one or two a day.

 

[Spanky]

Did anyone see 20/20 last night? The focus was on Greed, but it also showed people who actually denote almost their entire income. A math professor denotes $800K yearly and his time building houeses for the poor. He lives in a 300 sq. ft appoitment. Another story shows a young lady (in her 30s) denoting all the money (over $3 million) from her trust fund while living in a very small appointment in NY.

 

[saluki9]

Did anyone see 20/20 last night? The focus was on Greed, but it also showed people who actually denote almost their entire income. A math professor denotes $800K yearly and his time building houeses for the poor. He lives in a 300 sq. ft appoitment. Another story shows a young lady (in her 30s) denoting all the money (over $3 million) from her trust fund while living in a very small appointment in NY.

That was $800K so far, not per year but yeah I saw it and it was pretty cool

 

[CZAR 8]

I would like to meet the young women in the 20/20
piece, who gave away her 3mil.$ trust fund. She is
one of the few with a pure heart.
God Bless Her.......

 

[Jay_Gatsby]

I can't say that I agree with the altruistic nature of some of the posts in this thread.  As far as I'm concerned, my money is just that -- mine -- to be used to benefit me and my family.  I could give the vast majority of it away, but in many cases those who receive money through charitable donations never understand how it was earned in the first place.

Perhaps my philosophy goes back to the concept of "give a man a fish, and he eats for a day.  Teach a man to fish, and he eats for a lifetime."  Consequently, I'd rather donate my money to teach people how to earn and save money, than just simply give them some of mine after they've wasted theirs...

 

[Sheryl]

I can't say that I agree with the altruistic nature of some of the posts in this thread.  As far as I'm concerned, my money is just that -- mine -- to be used to benefit me and my family.  I could give the vast majority of it away, but in many cases those who receive money through charitable donations never understand how it was earned in the first place.

Perhaps my philosophy goes back to the concept of "give a man a fish, and he eats for a day.  Teach a man to fish, and he eats for a lifetime."  Consequently, I'd rather donate my money to teach people how to earn and save money, than just simply give them some of mine after they've wasted theirs...

Just my two cents on the topic.

Two points in reply, Jay:

1.  Many people get a psychological benefit (i.e. happiness, what we're all in pursuit of) from giving to others.  [So one could digress into a a really tedious discussion about the definition of alturism, and if one benefits from the "feel good" effect is it really altruistic or just another version of self serving.... but I won't go there since it's not 2 am in a college dorm after too much beer].

2) Many charities agree with the "teach  a man to fish" (or a woman to start a business) concept and are doing just that....   Google Microcredit.    And some of the people doing the learning never had any "theirs" to waste....

 

[TromboneAl]

What does it mean to "denote" your income? I haven't heard that term before.

 

[Jay_Gatsby]

Two points in reply, Jay:

1.  Many people get a psychological benefit (i.e. happiness, what we're all in pursuit of) from giving to others.  [So one could digress into a a really tedious discussion about the definition of altrurism, and if one benefits from the "feel good" effect is it really altruistic or just another version of self serving.... but I won't go there since it's not 2 am in a college dorm after too much beer].

2) Many charities agree with the "teach  a man to fish" (or a woman to start a business) concept and are doing just that....   Google Microcredit.    And some of the people doing the learning never had any "theirs" to waste....

As for #1, that's their business. As for #2, I'd consider making a donation to such organizations once my future and family are secure. I don't agree that there are people who never had any "theirs" to waste. More likely, they weren't interested/motivated to build "theirs" in the first place. Put another way, everyone has money -- some have more than others -- but it's what you do with it that counts. Likewise, everyone has the potential to make money. There are countless stories of people who started with nothing, and over the years became very wealthy through discipline and hard work.

 

[SteveR]

I can't say that I agree with the altruistic nature of some of the posts in this thread.  As far as I'm concerned, my money is just that -- mine -- to be used to benefit me and my family.  I could give the vast majority of it away, but in many cases those who receive money through charitable donations never understand how it was earned in the first place.

Perhaps my philosophy goes back to the concept of "give a man a fish, and he eats for a day.  Teach a man to fish, and he eats for a lifetime."  Consequently, I'd rather donate my money to teach people how to earn and save money, than just simply give them some of mine after they've wasted theirs...

It's your money and you are free to do what you want with it. If giving some of it away to assist those not as well off mentally, physically, emotionally and fiancially is not important to you then by all means don't give. It is a personal choice.

I have a different view perhaps because of being closer to these people than most would ever want to be. Seeing first hand how some of these people live due to a variety of reasons beyond their control is a life changing experience. It is not for everyone, but I do suggest it to people that think that charity is just another way for people to steal from them.

I choose to give and I am selective on where I give. I don't do it to make myself feel all nice and warm inside. It do it because there is a need that I see and I want to share my good fortune with some of those that are not as fortunate; not as bright, not as physically able and not as financially capable. I give my time more than my money and we plan on doing more of it after we retire.

We can agree to disagree on "need" vs "want" but having personal experience with "needs" can be very educational.

 

[Martha]

Likewise, everyone has the potential to make money. There are countless stories of people who started with nothing, and over the years became very wealthy through discipline and hard work.

Because some start with nothing and are successful hardly means that everyone has the potential to make money.

I think this is the great American myth.

 

[Cut-Throat]

Because some start with nothing and are successful hardly means that everyone has the potential to make money. 

I think this is the great American myth. 

You got that right!

- This is like someone in the NBA that happens to be 6 foot 11 inches and thinks that just his hard work, drive and ambition got him where he's at!

 

[maddythebeagle]

I think this is the great American myth. 

ok, slow down. It looks like we are heading down the liberalism vs. conservatism debate. 

 

[tryan]

What does it mean to "denote" your income?

Straight from websters:

denote: To reveal or indicate; mark

 

[Sheryl]

Straight from websters:

denote: To reveal or indicate; mark

I assumed that the OP made a typo, and meant to say donate.

 

[azanon]

Because some start with nothing and are successful hardly means that everyone has the potential to make money.

I think this is the great American myth.

I pity the person that thinks they have no potential. Wait, no I don't.

What a sad mentality that must be.... besides the fact that its wrong.

 

[azanon]

- This is like someone in the NBA that happens to be 6 foot 11 inches and thinks that just his hard work, drive and ambition got him where he's at!

It would be a good point, if it wasn't for the fact that there are infinitely more ways to make money than being an NBA player.

 

[Cut-Throat]

It would be a good point, if it wasn't for the fact that there are infinitely more ways to make money than being an NBA player.

And yours would be a good point, if it wasn't for the fact that there are infinitely more money making attributes than being 6 foot 11 inches, and that these attributes are not distributed evenly.

 

[Jay_Gatsby]

And yours would be a good point, if it wasn't for the fact that there are infinitely more money making attributes than being 6 foot 11 inches, and that these attributes are not distributed evenly.

I've always been of the mind that everyone has an attribute that they can use to make money. The problem is realizing that you do, and then using it to do so.

 

[SteveR]

I've always been of the mind that everyone has an attribute that they can use to make money.  The problem is realizing that you do, and then using it to do so.

"Everyone" covers just about everybody on earth. I would respectfully disagree.

There are some basic elements that need to be at least partially available for this to be likely including but not limited to; the right education, a culture that allows some level of financial freedom and upper ward mobility, financial freedom, and having your basic needs met to allow time and resources to pursue making money.

Does everyone have the mental and physical ability to make money? No. There are many people of limited intellect that are not capable of holding even the simplest of jobs. Likewise, severe health issues can prevent one from engaging in money making endeavors.

I am not trying to be argumenative, but there are many factors that could prevent one from being able to make much more than a subsistence living, and in some cases, a living at all. I just find it a bit tod broad a statement to state that everybody can make money.

 

[maddythebeagle]

She cheerfully concedes that now that she’s 60, her need for creature comforts “has probably doubled. I actually have a comfortable bed now, and I go to the gym. I even have a cell phone!”

Robin says her sense of spiritual fulfillment is what leads her to feel she has “enough.”

The bottom line: If that latte takes up a half-hour of your life, make sure you really enjoy it. Stay connected to the things that make you happy.

- back to the original post... I think this make sense. Being frugal to me doesnt nec. mean depravation, it means allocating resources efficiently and avoiding waste. There is a balance somewhere. OR I wonder if she is setting up these statements for ANOTHER book?

 

[Cut-Throat]

I wonder how Amy Dachyzznnn (Sp for sure) is doing these days. I wonder if she still is reusing tin foil and making popsicles out of empty grape jelly jars?

 

[maddythebeagle]

my favorite is one I read about someone never buying laundry soap. rather raids the recycling bins for old containers and rinses out the remaining soap.

 

[laurence]

Like CT said somewhere else, it's all about balance. We will donate about $3k this year, we turn the lights out when we leave a room, but we also enjoy our gourmet breakfast bagels and french roast coffee after church on Sunday without a moments hesitation or guilt. It's $12 (or 30 minutes after tax) well spent.

 

[haha]

I would like to meet the young women in the 20/20
piece, who gave away her 3mil.$ trust fund. She is
one of the few with a pure heart.
God Bless Her.......

I also would like to have met her, before she gave away the money.

Ha