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Why are you frugal?

Posted Oct 31 2007, 01:51 PM by Donna Freedman
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Frugal people sleep better.

That’s a recurring theme in a Smart Spending message board thread called "Why are you frugal?" Readers say it’s hard to beat the contentment of a good night’s slumber, untroubled by debt.

Some readers say they're frugal because they love finding great deals, but most have more complex reasons. They're thrifty now to meet future goals: a car, a house, a family. They've chosen to reject hyperconsumerism. They're called to careers (e.g. the arts) that are fulfilling but require careful money management. Or they simply enjoy the peace of mind that comes with having an emergency fund.

Frugality begets options. “I try to save money on things that don’t matter, so I can have choices on things that do,” wrote a reader posting as “SC CDF.”

Opera or HBO?
What matters, of course, is completely subjective. “Great Arm” has opera season tickets. She does not have long-distance phone service or cable television. On the other hand, reader “Lynn D” is frugal so she can have cable.

"If clipping coupons means I can afford my HBO," she writes, "then I'll clip the coupons and take the time to scour the grocery sales ads to get the best deals.”

Years ago, “matts-dad” quit a job he hated; it was affecting his health, he says. At the same time, he and his spouse were two years into a five-year plan to pay off credit card debt. Walks, trips to the library, local celebrations and other free things took the place of expensive treats. Matts-dad realized that all their debts had come from "trying to buy some feeling that couldn't be bought."

Now, he writes, they know that "money is a tool, living is an art!”

Reader "bee dance" also made a conscious lifestyle choice. To her, frugality means going outdoors rather than staying inside with “expensive gadgets.” It means buying less and buying secondhand to reduce waste. Most of all, it means not “(spending) the better part of my life sitting in a cubicle to pay off the stuff I bought to make myself feel better because I sit in a cubicle all day!”

Frugality = freedom?
When “laterbloomer” sees pricey items, she sees handcuffs.

"Handcuffs that (could) chain me to a job I might not like," laterbloomer writes. "Being frugal has been a way of protecting my freedom.”

Also on the subject of freedom: Frugality means being able to pay one’s own way. "Librarygoddess” is a careful spender so she won't have to “go running to my parents or grandparents if an emergency arises.”

Having savings in hand is the reason that "JenniferG1982" is frugal. Not going into debt for school uniforms or car repairs makes her happy. So does paying cash for Christmas: “I love giving, especially when I can afford it.”

“Rose 1953” and spouse sacrificed financially for two sets of futures: their own, and their children's. Thrifty living allowed them to help their kids graduate from college without student loans. It also has helped them prepare for early, debt-free retirement.

The frugal lifestyle has made them appreciate what they have. "There comes a time when you have everything (you think) you want and need – and it's true," Rose writes. "We are happy and content and enjoy each and every day."

Waste not, want not?
“Cronewitch,” who started the original thread, technically can afford to waste money but “just can’t seem to feel good about it.” At times she thinks about buying things that would impress other people. Usually, she decides that “I don’t need to compete.”

I agree. For me, frugality is not about deprivation -- it's about decisions. It's deciding to live the best life I can without going into debt. It's deciding to do without some things now so that I can save for the future. It's deciding to budget for a certain amount of charitable giving. All of this is more fulfilling to me than having the latest designer handbag -- or living in that cubicle that bee dance mentioned.

If I could waste money, would I? I guess it depends on how you define "waste." For example, some people might think it would be a waste to buy a bunch of Mentos and some Diet Coke and show my great-nephew how to turn them into backyard geysers.

Heck, even I think that's a waste! But I might do it anyway if he visits next summer, because it would be hilarious.

Of course, I'll buy the Mentos at the dollar store.

Comments

 

Sometimes you have to have a thick skin to be frugal. I have a friend who has never owned a car because she saves the money for things that are more important to her - like visiting family in Europe. She rides a scooter and is the subject of ridicule by the well-heeled who think she "looks silly" on the scooter.

Hi, I was born in 1930, raised by my g randmother in Iowa and we were very poor. I knew I didnt want to live that way. After high school and a stint in the navy, I worked in a flower shop. My boss had only made it to the 8th grade and one of his secrets of success which he shared with me was, " If you don't need it it isn't a bargain at any price."  Good council.!!!!!!!

I've been thinking lately that the town I live in should be termed "Anaheim Hills, Land of Conspicuous Consumption".  (Same for Yorba Lknda whos motto is "Land of Gracious Living".  

We drive older cars and bought older muscle cars for our boys to learn to repair and fix up.  One son has completed his down to its bright orange paint job.  Unforunately in this town, older is not better and many do not appreciate the hard work and pride that comes from making a silk purse out of a sow's ear.  I agree with Mikey, (sometimes you have to have a thick skin to be frugal).

I don't have a car and just rent a single room from a family so most of my cash can be saved and invested. I rarely buy anything at all, and outside of my investments i don't own any assets (apart from this laptop). I must admit, i have a saving problem. Perhaps it's the security i crave, but i detest spending money, even on things i might want. If i do it grinds on me for days even though i have a large net worth. Sometimes i will even not eat properly to save money. I dream of saving, and keep complicated speadsheets showing my financial situation and costs that i will read over and over and over. Given a choice, I would rather save than spend money to see relatives, go out or purchase entertainment of any kind. For me spending money is to loose it - and i cannot bear that.

Not everyone will understand the frugal person's actions. Suich people may be ignorant of the possible benefits, some are clearly wasteful & have a I don't give a damb attitude-live for today tomorrow will take care of itsself- childlike "logic".Others are on a mission to to feel superior: Look mat what I have...I am dressed expensively- at any cost, look at my social standing, my fancy car(s), diamonds vs zirconas...how mant points on the diamond...the color....anybody have a pair uf jeweler's magifying gkasses....but I think most people get caught by not knowing, not having a certain type of upbringing, not having learn ed to annalize the situation & their way of thinking ( poor math, poor logic, lack of intelligence... Then there is the part of society that is too ill, too overworked, too stressed and maybe too young or too old to be able to deal with evaluating the best deal,choosing the  smart thing to do etc. No one is born a smart shopper & we will all get taken advantage of at some time- it's part of the game. Part of the game is also making your money work for you so you can have or do or help as you prefer. This makes for a more pleasurable and satisfying life for you & your family. The best deals are the ones that give to  best quality for the least money which is not always the cheapest or most expensive item.

I learned to be very frugal from my 81 yr old mom she and her family lost everything during the depression.We drive an hrybrid car and I also shopat thrift shops! I love a bargin and love name brands but dont like paying full price.dh and I are saving money for retirement in several yrs.We took a vacation the first one in 3 yrs last month and had a ball we carried 2 sons and one gd we ate out at night and snacked during the day the hotel had a free breskfast.We paid for everything in cash.Saving money and being frugal is a way of life.P.S.I also have always been careful using gas for our car and its paid off.

I've always equated frugality with being a grown-up. I watched my parents forgo useless fluff and status purchases for finanacial security and the ability to spend on items and activities we truly enjoyed. As I matured and began making better choices for myself and my family I felt I was coming closer to my idea of what it meant to be an adult. Once your biggest priority is the security of those you love, baubles lose their shine. Like any exercise, flexing those muscles of restraint feels good and makes you healthier in the long run.

I'm frugal, to a degree.  I don't needlessly waste money by leaving lights on, buying new clothes constantly to be "in style", eat out only once  a week for date night (and twice weekly for lunch, because it's cheaper than taking!), keep the thermostat low (or high), etc.  However, if you're sitting around thinking only about your money all the time and won't release any of it for yourself, family, friends, charity, etc. I believe you have a problem.  "The root of all evil is the LOVE of money".  Moral judgement is not mine to pass; however, even being tight I love to give to church, charity, and children.  Being frugal is one thing, but being cheap is entirely something different entirely.

My Husband is 90 years old, I will 71 in march I never could hold on to money. he has always been frugal. It has taken me 20 years to see Frugal can be a goog thing

Ann

I can relate with Anon who has an obsession with saving. It comes from something I saw when I was a kid.

There was this fabulous, beautiful lady who lived on our street. Her husband was a doctor. She always had the 'hot' car, the 'hot' clothes, and bragged about it constantly. She also made fun of my mom, who was (is) a plain Jane.

One day, this fabulous woman's husband left the country with all his $ to be with his Portugese secretary. The woman ended up losing everything, for all the neighbors to see. She posted signs that she was having a yard sale. My kind mother offered the assistance of all her children to move furniture onto the front lawn. That was a long day.

That night at bedtime, I asked her why she wanted to help that woman. She told me it was a lesson for us about spending, saving, and managing our OWN money. She told us that every time we think about spending wastefully or extravagantly, think twice and think about that lady, having a nervous breakdown in the front yard as people nickel and dime her for her precious 'stuff'.

My lifestyle is partly an homage to my mom an partly a response to fear of ending up like that fabulous lady, who last year ended up crashing on my parent's sofa for a month for lack of shelter. scary.

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