I subscribe to the philosophy of being very frugal in some areas so that I can have a lot more to give to others and to myself.
People at the office used to laugh at me, until they saw what I was able to accomplish on a modest income (great home, nice vacations, gifts to others, etc.) Now they all practice a little common sence. One person has wiped out all her debt, one person figured out how to pay off her mortgage and retire, no one is worried anymore about losing their job, because everyone at the office has built up their savings and lowered their debt. Now that's freedom, Ladies!
Why are you frugal? What do you get out of it?
At my last job I was nicknamed "fish" because I am very tight with my money. I wouldn't even buy new clothes unless I absolutely had to. I would pay my rent and bills and that was it. I saved the rest. It was a big shock to my coworkers when I bought a brand new car which I paid cash for and still had a healthy sum of money in the bank.
I recently decided to redecorate my flat and that is making a fair dent in my savings. But I am getting back on track. I generally only buy things that are absolutely necessary.
I pay less rent than I would on interest on a mortgage. To me, the thought of going into debt scares the hell out of me and while I have such a great deal on rent and save the rest, I do not see the point.
At my last job I was nicknamed "fish" because I am very tight with my money. I wouldn't even buy new clothes unless I absolutely had to. I would pay my rent and bills and that was it. I saved the rest. It was a big shock to my coworkers when I bought a brand new car which I paid cash for and still had a healthy sum of money in the bank.
I recently decided to redecorate my flat and that is making a fair dent in my savings. But I am getting back on track. I generally only buy things that are absolutely necessary.
I pay less rent than I would on interest on a mortgage. To me, the thought of going into debt scares the hell out of me and while I have such a great deal on rent and save the rest, I do not see the point.
this is the first step to riches. Good luck.
I recently decided to redecorate my flat and that is making a fair dent in my savings.
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What did you do to redecorate? New furniture or remodeling?
What is considered a flat in Australia?
Unfortunately I have a hard time saving any extra money that doesn't go towards bills and whatnot. The way my husband and I do our money is so that all the bills etc gets paid and then we each get some spending money of our own to do with as we please. I tend to spend mine fairly fast on whatever I feel like at the time, while he tries his best not to spend very much at all. He rarely buys himself anything like clothes etc. Only the neccesities, while I tend to spoil him and others with my money, and also on myself.
Im a bit of a compulsive shopper, I see something I like and as long as I have the money I buy it. Even if it's not for me. Like I said I buy my husband more stuff than he buys himself! lol...
But it would be nice to learn to save more than what I do!
...As long as I have the money I have NO problem spending it on going out for dinner and drinks or whatever, but my husband on the other hand, hates "wasting" money on stuff like that. He thinks, we have food at home, eat at home. He rarely spends money on anything more than whats neccesary.
i used to be terrible with money (its something i am still working on). my problem is i have a hard time not spending money on friends and family - there is also a bit of me that usually feels - life can be too short to be frugal. i save/ invest a lot more now and feel beter for it - the bank balance is getting there too.
i think being frugal is one thing but there is a fine line between being frugal and also just being tight fisted (whether with yourself or others).
yeah I also have a hard time not spending on family and friends, especially for birthdays and Christmas etc. I tend to over spend around those times, but it makes me feel good for being able to give to others. I love to see how appreciative they are, and love to see how much they really enjoy their gifts. But i dont really buy them "things" I usually treat them out to dinner and a concert, or plan a surprise party, or take them somewhere as a surprise. Things like that
and then once and a while I spoil myself with clothes, makeup, relaxation stuff etc.
I recently decided to redecorate my flat and that is making a fair dent in my savings.
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What did you do to redecorate? New furniture or remodeling?
What is considered a flat in Australia?
Well, it's not a flat but a two bedroom, two storey townhouse, in the centre of town - great location - good and solid - nothing wrong with the place - excellent value for money considering the other places available in the area.
As for re-decorating, I didn't do anything major. I can't do too much as it is a rental. Just bought a new sewing machine and made new cushions and curtains. I have a good solid lounge so I am not going to do anything with that except re-upholster it. I have invested a fair bit in some really nice wall hangings/pictures. Bought new lamps, kitchen stuff, etc. I sanded down my kitchen table and re-laquered that. I want a small water feature but the ones that I like are between $1500 - $3000 for a very small unit and I struggle to part with that sort of money. I am hoping to make one soon when I have some time and some energy.
It's a work in progress.
What do I get out of frugality?
Peace.
I can achieve living on less than my husband makes by making good choices and looking for good deals on things we do want. This means we have more in the long run.
In the past, living frugally saw us through some hard times.
I'm worse than frugal, I'm definitely tightfisted. I can't HELP it! I grew up with no money (food from the food bank, welfare checks), and now can't enjoy spending money. My only indulgence is travel, and fitness classes (but I work with Parks & Rec so I don't even have to pay for most of my fitness programs!). And my laptop, it's a good one.
It's funny because I thought when I got married I'd loosen the purse strings, but it hasn't happened at all. My husband makes good money and doesn't like to waste it (but he's not as tight as I am). The wierd thing is that I don't like to spend ANYBODY'S money, even if it's not mine! Well, I don't mind expensive dinners and hotel rooms on hubby's expense account, but that feels different somehow.
Anyway, I've been wanting to practice being less frugal and enjoy our money more, but I don't even have anything I want to buy. I couldn't care less about clothes or dvd's or eating out....I do like massages, though (but we are covered for those!).
Maybe I'll indulge in a spa day for my birthday....
Aha! A $3000 very small water feature? Very interesting! Is there a web site where we can see some?
lala21, I also prefer experiences to "things"
Laurie,
Don't feel bad, it souds like you have everything you want. Isn't that called happiness?
Do you think you worry about ending up in the financial situation your parents were in?
Yes, we all enjoy spending on friends and family. But sometimes the need to save is more.
I am frugal so that I can be in the financial situation my parents are in. They are recently retired teachers and have done very well for themselves over the years. Growing up we had a nice house, a family vacation every summer, a swimming pool in our yard, cars when we learned to drive, and a college education paid for. My parents were smart about their money and taught me to be as well.
I think it's stupid to waste excess money on groceries when using some coupons can cut my bill in half. Sure it takes a few hours every week to see what is on sale but it's worth it when I'm spending $60-75 a week instead of $150. I'd rather drive a modest car instead of a luxury car and take an extra vacation during the year. My husband and I stretch our money to make the most of it. Being frugal (NOT cheap) is a way of life for us. That's just my take on it, though.
Aha! A $3000 very small water feature? Very interesting! Is there a web site where we can see some?
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Lovely fountains! Not very frugal, but definitely worthwhile!!! Enjoy your new space.
I havn't actually bought it yet. I struggle to spend that sort of money. I am a cheapskate. I am still trying to work out how to do it without spending any money.
I think being frugal is fun! It's great to feel you got a good deal on something. Why be wasteful?
I have certainly had my money issues, being broke, in debt, borrowing money. All that fun stuff. Just recently I have decided I need to focus on just paying my bills and stop wasting money. It is amazing how much money you just waste, a dollar here a dollar there it really can add up. I have been going through my house and ridding myself of things that I just don't use anymore. It is amazing how much [censored] I have collected over the years. I am either donating or selling everything I don't need and then will not be replacing it. I am just trying to clean my life of clutter and being frugal is just one step.
I totally agree about wasting money. My husband and I have divided our money into "pots" and each one gets a certain amount each month-with 10% going to a play account. With a certain amount budgeted for necessities, it's helped me to look for less expensive options to many things. You can save $10 and $20 there and soon you have "found" a hundred dollars you didn't realize you were spending.
When I used to work in a bead store, I bought an iced tea every day for $1 and many times bought lunch. when I started to bring my own lunch and drinks in a cooler, I saved nearly $100 a month.
Cleaning out the clutter in your life is a great way to also clear your mind.