Keith, I agree that it is stupid and pointless to try to "keep up with the Jones" but I also don't think it makes any sense to consciously under spend them either. I think the best approach is to ignore them, whoever the heck they are. Do what makes you happy. Maybe that's what you meant?
I think frugality is important for all types of people. You know the interesting thing that I've learned over the years, is that the people who appear the most well off cause they're flashey are usually not that well off they just have a lease on a mercedes and $50k in credit card debt. The people I know who actually are well off, well those are the guys driving the old beat up vehicles and wearing clothes until they fall apart. I met this guy who's 20 years old and drives a brand new BMW works in the same building as me. I got to chatting with him and found out he makes $18/hour in the call centre, lives with his parents and pays $1000 a month in lease payments for that car. Oh I see. There is a lesson in there for sure.
Yes I see a concern with that example above, but for the frugally people that have amassed wealth and then die, you can't take it to the grave so what is the point?
Does dieing broke make sense? Working less? etc
Just taking a counterpoint to the previous statement, one could say that money is only unimportant as long as you don't have a need for it, so a little overkill can't hurt, and as long as it's unimportant, maybe just leave it to your favorite charity rather than ruining your heir's chance to learn on their own, just a thought.
@Cashmoney. While I also know of people like that, especially in the US, I know many more who don't owe a cent, drive expensive cars, own expensive real estate, take expensive trips, give a lot to charity, and still don't spend above their means. So what should these people do? Volunteer to pay more tax perhaps? No I think not as that would be a real waste.
I think it depends on your money blueprint/how you were raised(how your parents handled money-your early enviroment around $)I don't think frugality is a rich or poor trait(alot of wealthly people got wealthly being srewd in business)and clipping coupons for example is no different than them shopping prices in business deals ect.(you look for vaule no matter what the $ amt is)I also think it depends from where one starts,people who grew-up poor never forget what that is like and NEVER want to go back.I always think it depends on the skill-set a person has and there personality....I actually think introverts and intellects build wealth from frugality more than extroverts and people strong in sales skills as a example.
@Donald- Perhaps but also it depends on how well you do financially in life and your personal tastes and utility function. Are these set in childhood or develop as one attains more wealth. I don't know. We can probably dredge up a lot of anecdotal evidence either way.
@square root-I'm not sure either,i would think there is a threshold when being frugal might leave someone*in there personal dealings*(i don't think imo it would leave a business man thou in his dealings in a professional setting)I think being frugal is a skill-set and some just have "it" and others(rich or poor)don't,almost in the same sense some people are natural athletes(genes).I also think some frugal people almost view it as a game-It's like it stimulates there mind to search and excute ways of being frugal.
I agree. We don't (and couldn't) eat out every night, but more than most because of our current work situations. Though I do think you can find some pretty decent choices out there. A Vietnamese bun is quite delicious and nutritious and cheap too at under $8 as an example, or freshly-made steamed/boiled dumplings in Chinatown for $10 for a variety of dishes.Originally Posted by Guigz
I certainly don't disagree that it's more frugal to eat at home most of the time, just that I'm learning more and more how time needs to be factored into the equation is all.
Dinner on the patio every night sounds amazingDW and I love eating our own food on our own patio. So dining out tends to be "an experience", better environment with superior food (perhaps ethnic) or a social event with friends and acquaintances. Aside from travel expenses, it is our largest expense. Call it an indulgence. But we very seldom eat out which is much cheaper than dining out.
Yet our car is 7 years old and the second (snowbird) is 19 years old.The Jones are way ahead. Good for them!
The ethnic note is definitely an important one. I can make a decent plate of pasta for cheap, but to attempt a butter chicken wouldn't really save me much since I'd have to buy a ton of exotic spices/oils/sauces, and I doubt I'd make anything close to edible.
And now I'm really really craving Indian food and it's only 6:45 am...
I don't ignore them. We often have them over for a BBQ. They might bring their expensive wine and specially brewed beer. I serve cheapo but good Chilean red when theirs runs out and standard brewery beer. It does not matter to me. I tell them how my AWD Escape handles like my BMW 3 series did (except for turning circle). When I talk about my portfolio (seldom), they make some vague comments about their investment advisor. One of them was paying $750/mo for cell phone plans for the 4 of them! I just said that I hoped they held Rogers shares!
Posting Permissions
Reply With Quote