The power of frugality

[Papa Mustache]

I guess frugality is our (all of us) super power.


When we were younger any emergency for DW and I was a potential hair on fire emergency. We didn't have the resources to do anything and calling on family for financial assistance wasn't really an option either. We had a few friends that we helped and they would help us with rides to work or help moving something heavy. We would never ask for financial help from them. if we needed money we didn't have there was debt - and we had debt.

Last night DW called and said the oil light was on in the family car and she parked it near work. Could I come get her? Sure.

Car has been great. About 100 miles short of 300K. Pressure switch is okay. Pump is certainly not making pressure b/c the engine rattles lightly. Don't worry I only ran it for a few seconds.

Getting it towed home today. Will take it apart this weekend and replace the pump. ~$200 in OEM parts from an online dealer. Right now I'm eliminating all the easy possibilities. Last chance is to investigate online if anyone has had an oil filter fail in some way that starves the oil pump of flow/pressure. I have the factory manual for my car and will study the pump and oiling system.

Maybe there is a pressure bypass/relief that is stuck open.

Our reaction was what was so enjoyable - because we have savings. The tow truck is free per our insurance. I can do the repair mysefl with eldest child. Online OEM parts are the same price or a little cheaper than quality aftermarket parts.

If we need to replace the engine (rest of the car is still good) we can out of pocket. Or we could replace the car with something cheap or nice whatever.

Just so nice not to stress over something like this.

[Uturn]

When I talk to people about money, I tell them it's not really about the math or amassing a pile 'o money, it's about peace of mind.   I got laid off unexpectedly a few years ago and was able to take a vacation before looking for a new job, instead of freaking out about next month's bills.  Four years ago, my AC went belly up on morning, and it was nice to have the cash sitting in my emergency fund.  But some people are not even that advanced and cannot fathom paying cash in full for a new AC, so I ask "what happens if the company that you are working for closes the doors tomorrow?  Wouldn't it be nice to know that no one is coming for your stuff while you are seeking a new job?"

[Gimesalot]

People think that I am cheap or a miser because I don't spend a lot.  In reality, I am buying myself the most expensive and useful thing, "peace of mind".  A couple weeks ago, it looked like I was going to be out of work in December.  Coworkers kept implying that I should be very worried and that I needed to look for another job.  All I could think was that I could really use some time at home!

[charis]

People think that I am cheap or a miser because I don't spend a lot.

I have recently found that mentioning the virtues of saving money is not worth it.  I'm not expecting a pat on the back, but after a bad reaction from a family member who clearly interpreted it as us being miserly, I have issued a ban on discussing the seemingly banal topics of saving money, travel points, and reducing spending, etc.   Certain people seem to think that if you are trying to pay more than the minimum on your student loans, you must be loaded. 

[Papa Mustache]

Jezebel - I'm with you. Not something I discuss with anyone besides DW. I would coach someone that asked sincerely - mostly point them to alot of reading like MMM and give them a suggested reading list I've compiled from reading everyone's comments. Or not - maybe the lessons stick better when a person really has to invest time to study and read and explore the topic themselves.

It feels like we've stood out from our crowd b/c we are clearly frugal. And our frugality might be a silent but public statement about our priorities. Like it is pointing fingers at other people and saying "you should feel bad about what you spend b/c we wouldn't do that".

Maybe its just because we don't celebrate shopping and enable and encourage people around us to spend. Yay for $175 clothing accessories! Yay for shopping therapy! Yay for vacationing with debt! Yay for thirsty vehicles in times of high fuel prices when you only have a pauper's budget! Okay so we've had the same cars approaching twenty years... ;)

In reality I don't care what people spend but don't think I haven't considered every angle of the situations we have seen in our social circle as examples to optimize our own situation with. Yeah, I'll admit when I hear someone complain about money while I've watched them spend wildly it takes conscious effort not to deal out a few "dope slaps" - but then we did some dumb things over the years we're not proud of too.

[purephase]

Money and how to become savvy with your own personal finances is not something that I discuss with anyone other than my wife. Most people dont understand and what is even more baffling is they dont want to understand. I would only discuss finances with someone if they brought the subject up and I would not use my own personal finances as an example

[fishnfool]

Lacking envy of what others have is very powerful. And knowing you can afford nicer things if you desire them is icing on the cake. I've never understood the "keeping up with the Jones" mentality?

[Rotax]

People think that I am cheap or a miser because I don't spend a lot.  In reality, I am buying myself the most expensive and useful thing, "peace of mind".  A couple weeks ago, it looked like I was going to be out of work in December.  Coworkers kept implying that I should be very worried and that I needed to look for another job.  All I could think was that I could really use some time at home!

Gimesalot, I couldn't agree more! Recently I had a coworker caution me that it's possible our team could be replaced by another unit. All I could think to myself was, 'This is why I have been getting out of debt for the last 7 years' and also 'I am going to take so much time off with that severance check' lol. It just seems like it's a reality today that layoffs are a certainty at some point in a career.

[Bateaux]

I enjoy being frugal because it doesn't betray keeping stealth wealth.  I drive older cars.  I live in an old fishing camp and I wear regular clothes.  No Rolex, no rings, no expensive suits.  I enjoy walking around as just a regular guy. 

[AM43]

Money and how to become savvy with your own personal finances is not something that I discuss with anyone other than my wife. Most people dont understand and what is even more baffling is they dont want to understand. I would only discuss finances with someone if they brought the subject up and I would not use my own personal finances as an example

^This^

[Rotax]

I enjoy being frugal because it doesn't betray keeping stealth wealth.  I drive older cars.  I live in an old fishing camp and I wear regular clothes.  No Rolex, no rings, no expensive suits.  I enjoy walking around as just a regular guy.

lol...I had not heard the term "Stealth Wealth" yet. I think it's going on my list of favorites. I prefer to grow successful and still just be a regular guy as well. Status symbols scream too much (for me) that I need validation, when it seems like true financial contentment doesn't need to show it off.

[Kansas Beachbum]

In reality, I am buying myself the most expensive and useful thing, "peace of mind".

Peace of mind, and the ability to do what really moves you, and yeah...other people will get bent out of shape over it.   

A bit over a year ago we purchased our dream home.  Southern Gulf coast of Florida, 5 minutes from the most beautiful, un-crowded beaches in the state.  We tried to keep it a secret as long as possible because we expected there to be a backlash from our less frugal "friends".  Once it got out we were like pariahs.  It's like people thought we were being uppity, or rubbing it in their faces or something.  People we have known for years now won't speak to us.  What they don't see is Mrs. KBB and I have been planning for, and saving towards this for 15 years.  Nobody's interested in that part, just want to be jealous.  We move in a month and are beside ourselves happy, so let the haters hate :-)

[alex@seed4great]

Unfortunately, the system we live in designed to encourage hard work, to earn more money and spend more money. In this way, we help our economy to grow. Wall Street is happy and big investors too. And small guys like myself also may get a share out of it. But the cost is high: stress, health issues, family issues and constant fear are always with us. Frugality is one way to escape this circle. This is why it is so unpopular among many people: it is for purpose. I personally believe frugality is a right way to go. But everything has its boundaries. I do not believe in extreme frugality: there is always a smart way to figure out how to reduce expenses without terribly affecting the life style.