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 Icelander
The Minstrel in the Gallery
Registered: 03/15/05
Posts: 79,858
Loc: underbelly
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 Re: Frugality  [Re: geokills]
#8374207 - 05/07/08 08:12 PM (5 years, 15 days ago) |
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Quote:
geokills said:
Interesting you should frame your response in such a manner, Icelander. I find a similar motivation for my own frugality, namely that I do not wish to work too hard (definitely not full time), thereby preserving a greater portion of my time for matters of personal intrigue, study, and artful expression. I have never placed myself in debt, and as a younger child without more than a $5/week allowance for taking out the trash and washing dishes after dinner, I simply did not spend money that I did not have. My parents entrusting me with a credit card at age 16 while simultaneously explaining the risks and benefits of such financial tools, fostered in me a frugal way of living; not unwilling to spend money on things much longed for, but also not eager to spend my money on disposable items of little lasting value.
I will admit, there was a period of time during the early years in my adolescent development where I did engage in stealing, by way of credit fraud and shoplifting. Ultimately, a local friend who broke into a neighbor's house with me, confessed our crimes and we worked off our debt to the family from whom we stole by way of manual labor in their garden. This family's kindness, understanding, and generosity (they would constantly offer us food either from their own kitchen or to actually drive and pick some up for us!), was a powerful wake-up call. I have never stolen since, and will never forget the awesome impact simple acts of kindness can have upon others. I was thirteen at the time, and am now aged a quarter-century.
Very cool post lucky boy.
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"Hang on tightly, let go lightly" -anonymous
“under the present brutal and primitive conditions on this planet, every person you meet should be regarded as one of the walking wounded. we have never seen a man or woman not slightly deranged by either anxiety or grief. we have never seen a totally sane human being.”
― Robert Anton Wilson
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TODAY
Battletoad
Registered: 09/25/03
Posts: 10,218
Loc: Metropolis City, USA
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Re: Frugality [Re: meams]
#8383006 - 05/09/08 09:48 PM (5 years, 13 days ago) |
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I'm a saver and I always have been. Remember that line from "Blow" about Johnny Depp's dad still have Communion money saved? That's my style. Though, I guess it helps to not have a vehicle, that I live with my parents, and that work is just a bicycle trip away.
I spend $10-$30 each week and make $625-$650. All my money is in a "risk free CD" (no penalty for early withdrawal if it goes into either of my other accounts) and I've managed to save about $17K ,in addition to my previous savings, in seven months of working full time.
If I had the normal expenses (rent, food, utilities, etc) I'd have only been able to save 60% of what I've been able to save in my current situation.
Anyways, I'm depriving myself now so I'm positioned to have some real financial leverage when it counts. I want to save now, so I can spend money on money making assets when opportunities arise, so I can retire early in a nice home with nice things.
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ca'rouse (k-rouz)
intr.v.
To engage in boisterous, drunken merrymaking.
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 Terillius
Renaissance Man
Registered: 07/21/06
Posts: 1,190
Loc: UT
Last seen: 2 days, 3 hours
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Re: Frugality [Re: TODAY]
#8384212 - 05/10/08 04:03 AM (5 years, 12 days ago) |
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I am totally with you on the saving money for independence gig, but does it strike anyone that we are potentially the MOST capitalistic people in the world? I wonder if we are truly the social leeches and "bad people" that society makes of us...
Does the scene make us sensitive and smart or greedy and lazy?
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TODAY
Battletoad
Registered: 09/25/03
Posts: 10,218
Loc: Metropolis City, USA
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I am absolutely capitalistic. I am greedy.
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ca'rouse (k-rouz)
intr.v.
To engage in boisterous, drunken merrymaking.
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Prisoner#1
Even Dumber ThanAdvertized!
Registered: 01/22/03
Posts: 168,346
Loc: Pvt. Pubfag NutSuck 
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Re: Frugality [Re: Veritas]
#8404906 - 05/15/08 01:11 PM (5 years, 7 days ago) |
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Quote:
Veritas said:
IMO, frugality is underrated as a means to achieving wealth.
frugality isnt just pinching pennies, it's finding the best buy
for the money, my wife believed being frugal meant buying the
cheapest thing, she still hasnt learned that the extra $20 spen
on an item that last 30 years is well worth spending if you dont
have to replace it 10 times
she replaced 3 toasters at $20 each, none last more than a
year, same with coffee makers, in fact it seems the life span is
around 4 months, I purchased a 1930s Silex in great condition
that's still working for only $15, my $8 waffle iron is a 60's
model that works well, it helps to have a bunch of 'antique'
stores around, most are just junk shops but that old junk
you dont have to do without, you just have to be wise with your spending
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there are 923 words in the english language that do not follow the "I before E"
rule, there are 44 words in the english language that follow the rule. this is
the shit our education funding is paying for and these liberals want more money
for education to keep making students stupid
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Prisoner#1
Even Dumber ThanAdvertized!
Registered: 01/22/03
Posts: 168,346
Loc: Pvt. Pubfag NutSuck
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Quote:
Icelander said:
I'm fifty five, mostly retired, own my home outright, almost never have worked full time, and mostly all from being frugal.
I'm in the same boat at 40, I own 85 acres as a 'hobby' farm,
I've taken the last 2 days off to take down some hoop houses, I
purchased 3 for $75 each (24x100) which is $1100 less than
retail on each of them, from that I'll have 2 that are complete
and a bunch of scrap metal for an older couple that comes around
to collect it every couple of months in exchange for cuttings
from their garden and what ever else they feel I need, I just
dont have the heart to refuse their gifts.
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there are 923 words in the english language that do not follow the "I before E"
rule, there are 44 words in the english language that follow the rule. this is
the shit our education funding is paying for and these liberals want more money
for education to keep making students stupid
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QCaz
Stranger
Registered: 05/25/08
Posts: 25
Last seen: 4 years, 11 months
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Ok, I know this is an OLD thread, but I have a few things to say!
I'm 24, Own my house (well.. paying the bank for privilege to say I own it!!) & car & have just managed to pay off $60,000 of Sexually Transmitted Debt from my Evil Ex. (Although most of this was paid off from capitol gains to my house - and also a renovation that I did myself)
I think most people have missed the point of Veritas post. Lots of people have been banging on about food. Weather you buy brand name stuff of not is personal choice. Here in Australia all the big grocery stores have their own gerneric brand which is (usually) the exact same stuff as the name brand stuff, but with a different lable on the tin. (proven fact, not urban myth). The big thing with food, if you choose to buy organic or anything else is to buy the basics - and learn how to cook!! you'll save HEAPS if you figure out how to just USE your oven and stove top. Heaps of things come pre-packaged/pre-mixed etc at a much higher cost than the extre 5 mins for cutting up some vegies is worth it!
Dont buy take out very often - and when I do, I buy a burger from the local fish and chip shop or something and then go and sit in a nice park etc to eat. Much better food and heaps more than what you'd get at macca's for the same price. Also, buying some takeaway & packing a picnic rug with good plates, candles and stuff makes a great alternative to a resuraunt dinner - and much more secluded & romantic dates have happened that way!!
I have found that the best way to be frugal in general is just to shop around! Even your grocerys make a huge difference if you buy a few extra of X item at Y store this week cause its on special this week & you know you'll use it all before it goes off! Stores put out their specials promotions weekly, we get it in the junk mail in our letterboxes here - dont throw junk mail away!! It saves me like $50.00 a week on my groceries!! Yes, sometimes its a pain to shop at 2 or 3 different stores - but they are mostly in the same shopping centre anyway (for you americans - thats in the same mall).
Buy clothes/shoes in a sale if you want new ones - I save my money for the twice yearly stocktake sales. They happen at the same times every year, and you can save anywhere between 30 - 80% on stuff (especially for lingerae, shoes, handbags and all the girly things). So I kind of have a twice yearly shopping spree with about $200 - $300 each to buy HEAPS of things for myself. EVERYTHING is on sale then - jewlery, perfumes, makeup EVERTHING!! And haveing a proper shopping SPREE once or twice a year makes me feel better for the rest of the year when I dont usually buy anything other than food items unless I ABSOLUTLY HAVE TO. Also, change your style - I buy classic timeles peices rather than high-fasion trends. Your clothes last more than one season this way, and when you dont have the money to buy more stuff, you dont feel stupid wearing last years fad.
Over here in Australia, we have lifeline & the Salvation Army who sell very good quality furniture, whitegoods etc very cheep. So most of my big household items have come from there. Heaps of my smaller household items come from there too - cutlery, glasswear, a special vase etc. My cat eats out of a beautiful crystal bowl I found for 20 cents!!! Everyone who visits comments on why I use it as a bowl for the cat - but it was cheep enough that thats what I bought it for!! Pet shops will charge between $8 - $20 just for a plastic bowl!!
And no, I'm not above 2nd hand clothes (not underwear though, there should be laws against second hand underwear!!). If you buy from the church-run op shops (not sure what they're called in america) things are HEAPS cheaper than in 'Vintage or Antique' stores. For the same quality goods (clothes, furniture & appliances included). Although from my Stocktake sale buying regime, I dont normally need any 2nd hand clothes as I have HEAPS now to choose from! This is usually only if I know I'll need something I dont have for a special project, visiting friends in a different climate zone etc. where I wont use that item of clothing much.
So you wanna do a few jobs around the house and yard?? Look in the newspaper for 2nd hand building materials - people are selling everything from tools, planks of wood, windows and doors right upto compleate kitchens & bathrooms!!
Also, your hardware store will sell miss-tint paints for a fraction of the price to normal retail. All because a 16 year old didnt mix the right colour in the tin, some miss-tints are just from the fact they made "sunshine yellow" instead of "marigold yellow". Its still un-saleable in their oppinion. In your oppinion, its a bloody good deal!! Lots of jobs are also fairly easy to do around the house yourself - I'm a 24 year old girl and I managed to do most of the reno's on my house myself. I just paid Tradesmen to come and do the things I couldnt - like moving my hot water system. The internet is your friend for finding out how to do heaps of stuff you thought you couldnt!! AND as a by-product, you get a great confidence boost, bragging rights and (for me) a little thrill everytime some old tradie guy who thinks girls cant do anything finds out you did everything around the place yourself!
Pay all your bills ON TIME. This sounds stupid - but for every time you default on your phone or power bill the company charges you like a $30.00 fee.. the same with your bank balance - never default on a payment etc for the same reasons.
I also dont drink very much booze. That saved me HEAPS straight up when I quit my wild partying days - I still go out with my mates, but now only once a month instead of 2 or 3 times a week!! And if you drink less alcohol, your tolerence is lower, so it costs you less to get drunk anyway - and your healthier in general! win win!
BUY the house you live in!!! I know your property market is not going very well over there at the moment (america) - but this can be a plus for you to break into the property market. Paying rent is stupid when for aproximatly the same amount of money you can own your home - then when you move out you will possibly make some money if the capitol growth has gone up, if it hasnt - move out & rent somewhere else while you put tenants in your house. They'll pay your repayments for you whlie you live somewhere else at no extra cost.
Or as I did, I had 2 extra bedrooms and charged my mates to live with me & they pay off my mortage. Not as feasable when you have kids - but it depends on the house.
The other bonus for you americans is that when an economy goes into a recession - or your property market falls over.. banks are deperate to get more people borrowing money cause thats how they MAKE their money (banks are a business out to make a profit too & they do this through interest charged on money lent out - if no one is borrowing money, the bank doesnt get any profits) but the people are like "NO WAY!!! have yuo SEEN the interest rates!!" so then the banks start raising the percentage they will lend to you. Some banks will lend upto 110% in a recession or when interest rates tip 15%. Yes, you heard it - they'll give you the house for free + some spending money. The trick with this is that you have to make sure you can make the repayments otherwise you'll be living on the street. But if you work out the repayments based on a 2% higher interest rate than what the market is at the moment & you can pay that COMFORTABLY then you should have enough room to breathe if/when the rates go up again.. or several more times.
So you dont have the money for a deposit?? borrow it!! its not ILLEAGAL - its just IMMORAL. But thats how I bought my house. A personal loan for $10,000 is easy to get. They dont ask you what its for - its PERSONAL & unsecured (thats the point). Put that money into a share trading account, wait 6 months while you save a lil bit more. All of a sudden you have a deposit (and a savings and repayment history). (but for goodness sake - be smart enough not to go back to the ORGINAL bank yuo got yuor personal loan for your new home loan.)
I only go and see a movie very occasionally - but to compensate I hold nights at my house where my friends come over & have home-made pizza, videos & just as much fun.
Or we have card nights. Board game nights. My chocolate cake is better than your chocolate cake nights (although be prepared for the stomach ache the next day from this night!!). I think people have forgotten how to have fun at home!!
Frugality is living smarter not poorer.
I'd love to hear any more PRACTICAL tips anyone else has.
Caz.
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