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How frugal are you. Teach me thy way.

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  • How frugal are you. Teach me thy way.

    I’m sure most of you on here are cheap... ummm frugal. No matter how much you make, if you spend it all, you can’t build wealth.

    So what are some of your habits?

    In the early days of starting out, pretty easy. They say ‘live like a resident’. This to me means, renting a studio, possibly even with a roommate. Cook at home. Look for coupons and deals. I can keep going.

    At what point did you start to let go of that ‘live like a resident’ and live a little? Or do you still ‘live like a resident’?

    1) Are you still cutting coupons? or are you more like, ‘what’s a coupon’?
    2) Do you haggle the guy who cuts your grass/does your lawn/handy man? Or do you pay what they ask for?
    3) Are you still waiting/looking at Black Friday deals? Or do you just look online for what you want and just pay for it out right?
    4) Do you have a food budged or do you just get what you want when you walk into the grocery store?
    5) what other frugal habits do you practice?



  • #2
    I don't like wasting money, but I don't mind spending it, either. For example, a couple weeks ago, I bought a $2k bottle of whisky. It is from a place that is underpricing market value, a sales tax arbitrage, and a 5% off coupon. So...am I cheap?

    These threads/discussions make me chuckle.

    Comment


    • #3
      havent you been talking about your millionaire stock picking?
      sounds like you want someone to say live it up....

      Comment


      • #4
        Originally posted by Peds View Post
        havent you been talking about your millionaire stock picking?
        sounds like you want someone to say live it up....
        I’m not very frugal in general. So wanted to know how others live.

        Comment


        • #5
          Originally posted by STATscans View Post

          I’m not very frugal in general. So wanted to know how others live.
          we are.....efficient? not frugal.
          we have saved >20% of gross since tracking ~8 years ago.

          1- we dont cut coupons
          2- we dont haggle those items but also get multiple quotes.
          3- always look for deals. buy when things are on sale 90+% of the time. if what i want isnt on sale, i dont get it. the luxury of money is being able to wait to pull the trigger for non-essential items.
          4- no food budget. buy our usual or whatever from tj/wf/sprouts/ralphs/tjmaxx/etc. if its <100 something went wrong.
          5- save first. thats it.

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          • #6
            Just don't buy everything that you want. There are lots of things that sound like a good idea to buy but I just don't. And you know what? I am just as happy.

            It is like if there is a tray of your favorite cookies. Do you oink them all down as fast as possible? No, you have a reasonable amount. Now reasonable is a little different for everyone which is where the issues lie.

            Comment


            • #7
              Basically, buy what you need.
              Buy what someone else that is important to you wants.
              Don't take out any loans.
              https://www.whitecoatinvestor.com/on...pouse-one-job/

              Comment


              • #8
                I am probably penny wise and pound foolish. One of my inefficient habits is to use the gasbuddy website and to stop at the cheapest gas station anywhere in the vicinity in which I am traveling. If I am on a road trip I try to time it such that I only have a gallon or two left when I pull up to the cheapest gas station within 500 miles.
                I sometimes have trouble reading private messages on the forum. I can also be contacted at [email protected]

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                • #9
                  I don’t think I’m cheap/frugal. More intentional with $. And I like simple things—reading a book on a hammock on a nice day, running, hanging out, cooking, etc. Even when we travel we are by nature not too extravagant, it just doesn’t fit us.

                  We don’t coupon
                  No to haggling with service providers. Yes to multiple quotes unless we feel the first quote is fair or we have gotten excellent service from the person before then just go with it
                  I bought one thing on a Black Friday sale. It is something I would have paid full price for but knew it was going on sale so waited a week.
                  Typically get what I want regardless of sale or not. The trick is what I want—I have learned to want less. It is more of a desire to have less stuff (I am not a minimalist—but don’t want to become a hoarder either) than a desire to save $.
                  No food budget.
                  No budget in general.

                  I am kind of glad that Covid has put a damper on the gift exchanges i sometimes get sucked into this time of year...it’s not that I don’t want to spend on a gift for someone else, it’s that I don’t want to receive a give that I don’t really want. If I really wanted something I would have already bought it. I’d rather just give more to the local food bank.

                  I can’t imagine what we would have to do do come close to spending even 80% of our take home. We would have stuff everywhere, be fat from eating all the time, or exhausted from all the extra “experiences”. At a certain income I feel like it is work to spend it all. To be fair, we don’t have kids...I acknowledge they expand the spending opportunities quite a bit. My dog wants nothing but a nap and my time.

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                  • #10
                    And I’ve never lived in a place smaller than a one bedroom or had a roommate since leaving college.

                    Comment


                    • #11
                      1) Are you still cutting coupons? or are you more like, ‘what’s a coupon’?

                      I use coupons when it’s convenient. I use this phone app called Ibotta. Whenever we go to the grocery store I see if there’s any deals on stuff we want. Don’t get much back but have gotten back like $100 total with minimal effort.

                      2) Do you haggle the guy who cuts your grass/does your lawn/handy man? Or do you pay what they ask for?

                      no haggling if the price is reasonable.

                      3) Are you still waiting/looking at Black Friday deals? Or do you just look online for what you want and just pay for it out right?

                      I needed a new computer and thankfully happened around Black Friday deals.

                      4) Do you have a food budged or do you just get what you want when you walk into the grocery store?

                      get whatever we want but often opt for store brand versions as I don’t see a huge difference between store brand and name brand.

                      5) what other frugal habits do you practice?

                      have cheap hobbies.

                      Comment


                      • #12
                        I am admittedly an enigma. I will fly business class to Europe and stay at expensive hotels but I will also clip a coupon for $5 off a Dairy Queen ice cream cake. I will haggle price over anything "haggleable", (this practice goes way back for me and is hard to quit). When it comes to lawn service, I got estimates from several companies but felt they were all too high so I mowed it myself this year. I will go out to nice expensive restaurants but I still wear sweatshirts that are over 15 years old and I feel are still "good enough" (this one does bother my wife a bit....). I am a DIYer and hate to call any service provider for any house need unless I absolutely cannot figure out how to fix it myself. We are very wealthy by most standards at this point in our lives and have loosened up a lot. You should have seen me in the early years!

                        Comment


                        • #13
                          I think the only way anyone around us would call us frugal would be the cars we drive and the toys we own. We take expensive vacations, mostly on points, but don't do all the expensive boats, motorcycles, ATVs, side by sides, snow mobiles, jet skis, etc. My wife still loves a good deal, but we don't plan around it.

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                          • #14
                            I would consider myself conservative, not frugal. I don’t like wasting money but if is some thing I want I don’t mind paying for it. It is really how you think about debt, not the stuff you get. For me the big money pits were cars and the house. We drive nice reliable car, but nothing fancy. We made a conscientious decision not to buy the biggest house we could afford , just a nice house in a nice neighborhood, we don’t have any neighbors named Jones either. We are now in a position with more money than we need but we also really don’t need anything.

                            Comment


                            • #15
                              Originally posted by STATscans View Post
                              I’m sure most of you on here are cheap... ummm frugal. No matter how much you make, if you spend it all, you can’t build wealth.

                              So what are some of your habits?

                              In the early days of starting out, pretty easy. They say ‘live like a resident’. This to me means, renting a studio, possibly even with a roommate. Cook at home. Look for coupons and deals. I can keep going.

                              At what point did you start to let go of that ‘live like a resident’ and live a little? Or do you still ‘live like a resident’?
                              1) Are you still cutting coupons? or are you more like, ‘what’s a coupon’?
                              Never use coupons.

                              2) Do you haggle the guy who cuts your grass/does your lawn/handy man? Or do you pay what they ask for?
                              No haggling for these things. The expense is trivial.

                              3) Are you still waiting/looking at Black Friday deals? Or do you just look online for what you want and just pay for it out right?
                              Don't bargain shop, just buy what I need, though my wife likes to find "deals."

                              4) Do you have a food budged or do you just get what you want when you walk into the grocery store?
                              No budget. Just buy the best food at the asking price. Again, that's a trivial expense.

                              5) what other frugal habits do you practice?
                              We don't have a budget, but we end up saving an enormous percentage of income because:
                              We live in a LCOL area where physician salaries are higher, and
                              No kids,
                              No life or disability insurance,
                              No mortgage or other debt,
                              I work all the time,
                              and we like to exercise, read, hang out with family, etc.
                              Erstwhile Dance Theatre of Dayton performer cum bellhop. Carried (many) bags for a lovely and gracious 59 yo Cyd Charisse. (RIP) Hosted epic company parties after Friday night rehearsals.

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