Author Topic: What is the first mental thought of being Mustachian in your life?  (Read 2018 times)

texxan1

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I was having a little thought this morning, thinking back to what mustachian thing was the first one I did consistently in my life.  As I rubbed my bald head, BADDABING.. It came to light lol

The last haircut I paid for was on January 8th 1989... The day before I went into the US NAVY... I shaved my head with the dog clippers and have never looked back.. I'm kinda a MR Clean looking guy anyways, so it works for me.\

one side not to mention, is I had the same pair of clippers for 23 years .. I burned them up when I went overseas two years ago, not knowing that hertz were different

I don't dare do the calculations to see how much I saved in my life not paying for a haircut.... I know this is hard for a lot of peo0le to do, but for us Mr Clean types, its easy.

So that I have broached the subject, what if you can remember.. Was your FIRST thing that you can recall.

Cheers

Tex

Raymond Reddington

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #1 on: July 08, 2018, 11:07:01 PM »
I used to receive an allowance each week for doing simple chores around the house. When I was in the second grade, my mother opened a savings account at NatWest bank for me and on my way after school to attending a CCD/IREP program, we'd deposit my earnings into the savings bank. Later, when I switched to Catholic school, I/we would deposit on the walk home. I thought it was so cool that the bank would pay me interest just for putting my money there instead of in my piggy bank at home.

By sixth grade, I was able to buy a computer. Because I was paying for it myself, I didn't get the newest model, but one that lasted me until sophomore year of high school when it died and I had to get a new one. It taught me the value of money as a kid, and when I did occasionally spend on things I wanted (my parents took care of all necessities, but things like video games I was on my own), I had to prioritized if I wanted that thing bad enough to set back my account so much that I'd likely have to give up the next (unknown) thing.

I also always tried to find ways to earn income and work, even as a teenager. I worked at a baseball camp, learned to be good at Texas Hold'em when that was all the rage, because it would pay the bills sometimes when I was around willing gamblers that weren't good at math, did various odd jobs here and there, took the plunge and attempted to start a franchise while in college (that ended badly, but I gained a ton of experience from it, and generally kept my customers happy, so I did learn something, even though the parent company was pretty awful), and worked at my school to assist with having spending money. I'd also frequently work odd jobs if any were available when I was home on breaks.

I was never the smartest, or most academic, but I pride myself on having common sense, which I realize now is far more valuable in the workforce, but when I was 22 I didn't know how to market myself or position myself for the right careers, and I've never been into computer programming. So I took a job with great benefits and a defined benefit pension plan even though it means sacrifices in my way of life for now, but I do it with the goal of retiring at 50 (best case scenario) to a life with plenty of wealth to spare, at 55 worst case scenario. I really can't regret any of the lean times either, because had it not been for those, I probably would have never spent time on the internet finding time to come across MMM, which aggregated a lot of my thought processes into a consistent philosophy and way of life to aspire too, and I also probably would not have met my wife. I do sometimes wonder how different my life would have been if I had been more open to different geographic and career options with other girlfriends, and where I might be now but meeting my wife is one of the best things that happened to me.

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BTDretire

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #2 on: July 09, 2018, 06:41:08 AM »
It was 3 months into my marriage in 1982, we had saved $1,500.
 I never had $1,500 before, and I thought "wow, we could actually
save a lot of money". By the end of that first year we earned $18,000
and saved $6,000, OK $5,380, we started with $620 of wedding gifts. :-)
 Our average inflation adjusted income has been about $71,000 over the
37 years of marriage. We have saved about twice what many Mustachians
Our retirement will be comfortable, if I can ever get my wife to retire.

Imma

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #3 on: July 09, 2018, 11:15:15 AM »
I was always a frugal kid. For as long as I remember, I always put any money I earned into my savings account and give myself a monthly allowance. I remember when I had just graduated highschool and living with my parents, it was €75, now it's €200 (a month). That means that if I'm going to make a big purchase, I have to transfer money from one account to the other. I've never impulse bought anything more expensive than a book.

I also remember a conversation with my mum about money when I was in my early teens. They were always running low on money while they didn't have such low incomes, and that confused me. I remember asking why they didn't just save money by downsizing (a couple years before this conversation happened, they moved from a very affordable house to a big expensive house) or selling a car or not shopping at the expensive bakery and butcher. She was angry and said "I'll take to you when you're a grownup, let's see how you're doing then!". I decided there and then that was never going to happen to me and she laughed at me. Fast forward 15 years: 28 this week, with a good job, a degree that I paid myself (with a €3k student loan), year's worth of expenses in the bank, homeowner since the age of 24 with a low mortgage. My parents were my biggest inspiration in avoiding lifestyle inflation. They think we're poor because we live in an affordable home with vintage furniture and no car.....

Retire-Canada

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #4 on: July 09, 2018, 11:20:06 AM »
My first adult MMM thing was to join the army at 17 and get a free education and get paid while studying. I came out of university with no debt, some savings and a job.
« Last Edit: July 09, 2018, 11:24:57 AM by Retire-Canada »

Linda_Norway

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #5 on: July 09, 2018, 11:20:58 AM »
Learning to brew beer. We used to live in the Netherlands and we loved to drink Belgium beers. Then we planned to move to Norway where that type of beer was not popular at that time, 1998, at not affordable. We learned to brew shortly before we moved. We have been brewing ever since, even though this kind of beer now has become pretty popular. It is still very expensive to buy in a shop or café.

The other thing was living very frugally because we moved to a HCOL country and were affraid to not be able to afford it.

Next next major thing was keep living in our first cheap house for 15 years. Paying down the 7,5% mortgage within 5,5 years. Then I started to invest in low cost index funds.

Then in 2015 we made the major unmustachian decision to put all of pur money in an expensive house. This was before we realized that we were so closed to being able to FIRE.
« Last Edit: July 09, 2018, 11:36:44 AM by Linda_Norway »

GuitarStv

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #6 on: July 09, 2018, 12:05:09 PM »
As a kid, I saved my allowance for three years straight to buy a nintendo entertainment system.  It was the thing I wanted most in the world for a long time, and was totally worth it.
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aGracefulStomp

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #7 on: July 09, 2018, 03:06:50 PM »
I had an allowance which I always saved. It never made sense to me why I would spend it on stuff that I didn't really want, just because I had the money.

I desperately wanted the Nintendo 64 when it came out. I remember looking at my little bank account book and saw that I could in fact afford it! That was an important lesson for me. I remember thinking about how much better it was to save for something before you even knew what the thing was yet.

Second lesson came when mum and I went into a pawn shop and they had a second hand Nintendo 64 at half the price - which I actually slept on and then we went back in the next day and got it. Because I got it second hand, I was able to buy 3 games instead of just one, and still had savings left over. That was another important lesson for me - that you can still get the things you want at a fraction of the cost if you're smart about it.



craiglepaige

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #8 on: July 09, 2018, 06:45:20 PM »
I remember being 8-9yo and picking up bicycles from the trash piles. My brothers and I would take them home, gix them and resell them. My mom still has a picture of the three of us with about 15 bikes in the background that were in separate forms of rebuilding. The whole "One man's trash" has always been a part of me.
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DreamFIRE

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #9 on: July 09, 2018, 06:58:05 PM »

That I've already been doing this stuff.... way before I ever heard of "mustachian".

Raenia

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #10 on: July 11, 2018, 07:13:13 AM »
When I was a kid, my parents set up a little organizer box that we used to divvy up our allowance.  It had a section for church offering, fun money, long-term savings, and some that we could label ourselves to save up for particular things.  Each week when we got our allowance, we had to put something into both church and savings, and the rest we could allocate however we wanted.

Hirondelle

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #11 on: July 11, 2018, 07:31:47 AM »
As a teenager me and my friends all had weekend jobs. One of my friends asked me "So what are you saving for?" and all I could answer was that I wasn't saving for anything in particular, I just always earned more than I was interested in spending, even when earnings were $15/week.

dude

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #12 on: July 11, 2018, 12:21:45 PM »
Hmm, I lived a very un-Mustachian life for a while, but after law school when I realized I'd racked up $12k worth of credit card debt (with a "fake it 'til you make it" mentality), came to my senses and took out a fixed-interest personal loan to pay those cards off and I haven't carried a balance beyond a billing period since. That was nearly 20 years ago. I also contributed right away to my 401k when I started my career, and ramped up contributions over the next 6-7 years until I was at the max. That move has paid off, bigly. However, it wasn't until I found MMM that I sought to cutting the small leakages that add up big over time, like my cell phone plan, landline telephone, home alarm system, cable package, etc. And that focus also helped me to ramp up savings. Since then, our net worth has grown considerably and FIRE is within sight.

Cool Friend

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #13 on: July 13, 2018, 09:30:37 AM »
When I was 13 years old, I collected recyclables to cash in the deposit in order to pay for a guitar.

I was raised by someone who made (and continues to make, as far as I know) nearly every bad financial choice imaginable. Rampant frivolous consumerism with commensurate credit card debt, refusing to move from a high COL town (though in her defense, the quality of schools was very good), going to law school and then dropping out which left her with insane student debt with nothing to show for it, we were homeless for a couple of months because she couldn't pay the mortgage... It goes on and on.

It was chaos, and I was terrified of money well into my 20s because I thought these kinds of financial problems were inevitabilities and that I was sure to suffer them too. I remember thinking at age 15 or 16, "I will never, ever, ever get a credit card," because my assumption was that there was no responsible way to use one.

I already had made significant financial missteps by then, but I dreaded the idea of flailing around my whole life like my mother did. Thank god for the internet and books, because eventually I realized I could choose to educate myself about how to make sensible choices, something my mother didn't have the emotional and/or mental capacity to do.

Zikoris

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #14 on: July 13, 2018, 09:45:25 AM »
When I was 18 and freshly on my own, I had a savings account that paid 5% interest - those were the days! So pretty early on, like in my first month or two of living alone, I thought "I wonder how much money I'd need to just live on that 5% interest and not work?". So I calculated it. And it was a big number. And I hardly made any money back then. So instead of doing the sensible thing and building a proper FIRE plan, I promptly forgot about it for the next six years. D'oh!
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lisa_mustache

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #15 on: July 13, 2018, 10:33:38 AM »
I'm only 18 months in, so I remember spending three days over a January weekend reading every post from beginning to end.  I was picking and choosing what I was going to do, and then got to the complainypants post and realized that I needed to make more changes than were comfortable.  I brought MMM up with my husband, and we cut cable that weekend.  It seemed CRAZY!  But we got an antenna off our Buy Nothing group for a few channels, and we don't even really watch anymore at all.  I also remember setting up our Mint.com account and my jaw dropping on the floor with how much we were spending each month on takeout.  And now we don't even spend our $100 budgeted to takeout/restaurants every month.  It's funny how some of the craziest-seeming things seem so easy and normal now. :)

[a]bort

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #16 on: July 13, 2018, 11:47:25 AM »
I realized it wouldn't be all that difficult to get to a million dollars with only an average wage while learning about compound interest in school. I often see people complaining that they don't teach the important stuff like this in school, but from what I remember they did, just most people didn't retain it or it wasn't presented well enough.

Just Joe

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #17 on: July 13, 2018, 02:47:36 PM »
For me it was simply seeing the money needle move in a positive direction.

We had both always worked since we were kids, we always had spending money and after DW and I married, we naturally sprouted credit card debt. My fault mostly. Also $45K of student debt so DW could strategically position herself for advancement at work.   

We were moving in the right direction but very slowly when a good friend gave me a link to MMM and I started reading the forums. Next came rapid fire personal and financial epiphanies. Various ideas I had about the world around us were not totally off the wall, everybody has similar life challenges, some of the same characters in their lives, and dysfunction around them in various amounts. Things obvious to everyone else with a basic monkey brain. I chalk it up to being surrounded by people with very small personal worlds.

DW and I started taking a more thoughtful approach to everything. Our careers finally started to pay off, debt was shrinking, long term plans progressing, less stress, more joy, etc.

A dozen different variables all moving their right directions.

That we were optimizing old habits from when we were poorer was accelerating our budget success. The relatives are noticing at least. We're known as the frugal relatives now.

Mikila

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #18 on: July 15, 2018, 07:36:47 AM »
When I was a child my grandmother opened an UTMA account for me and matched my savings.  I remember looking at my pass savings book, counting what I had to deposit, and the higher interest I could earn when I deposited my hard-earned $7.82.  This taught me "savings is fun."

Clookie

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #19 on: July 15, 2018, 11:44:48 AM »
Learned to save money on books when I was 16. I discovered the schoolțs library (a place forgotten by my friends) and borrowed specialty books on different subjects. I studied them for two to three weeks, long enough to learn the material and take all the important information in those books. That made a huge difference in my skills and in my grades and taught me that a public library is the best collection of books anyone can have. Not to mention that I would have never afforded to buy all the books I borrowed. Also I became the school's library superstar and was praised by the librarian.

This experience also prepared me for college, where I found ways to spend less on books (borrowing from the library, sharing with other students) and also studying an extensive material, more than required. That put my in the top 10 of my class, as an overachiever.

To this day, I'm only buying books if I can't borrow (speciality books I use in my field of work). I never buy literature
 -if it's not at the library, I'm not sure it's worth reading anyways.

LorettaLynn

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #20 on: July 15, 2018, 04:46:10 PM »
I was shopping at thrift stores decades before thrifting was a popular activity!
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Hedge_87

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #21 on: July 16, 2018, 06:32:19 AM »
In middle school and high school I had a summer gig mowing lawns in the evenings after working on the farm all day. I always deposited my paychecks from the farm work ($6 an hour). My mowing money was always cash. I would take this cash home and put it in my night stand in an envelope. This was to be my spending money. it covered gas and going to movies with friends and stuff like that. I used a little bit to by my first real mountain bike. after that I would buy new fishing gear as needed but other than that it sat in my night stand accumulating. one evening I was putting money in my envelope and noticed it was getting pretty full. I decided to count it and had a little over $2000 in there. I thought I must be the richest person in the world! I thought for a bit about spending it on something fancy but couldn't think of anything. Then I thought I better not have that much cash in the nightstand and took it down to give to my mom to put in the bank (she works at the bank where i had my account). She couldn't believe I had saved that much just from mowing. Then she laughed and said well I hope you don't get audited (since it was all under the table money).

One advantage of growing up in the sticks is you don't have many chances to spend your money lol.
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peregrine

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #22 on: July 16, 2018, 08:38:50 AM »
My first Mustachian instinct...

In the summer after third grade, I spent every day riding my bike with my friends and I had a favorite T-shirt. It was one of my Dad's old work shirts that Mom had volunteered for a tie-dye project at the elementary school. Very cool.

Man, I loved that cheap, oversized shirt.  I wore it every day I could (i.e., when my mother didn't force me to put it in the laundry). I wore it until it was threadbare and tattered. I didn't want any other shirts, and I resisted 'buying' new shirts when my Grandma took me shopping.

Alas, one day the shirt never returned from Mom's laundry basket. I guess she saw that it had outlived its purpose.

I still miss it... (sigh)
« Last Edit: July 16, 2018, 08:40:47 AM by peregrine »
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aladystash

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #23 on: July 16, 2018, 09:13:41 AM »
I was also always a frugal kid, saving my money and if I spent I had to have a reserve while my brother would save until he had enough to spend all of it on one thing. I wish I had known about interest back then, my dad IS very old fashioned when it comes to talking about money with the kids. It translated into my pre MMm reading life by Work Trades and Craig’s List arise Share. I’ve always loved living on less if given the opportunity.

scissorbill

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #24 on: July 18, 2018, 01:05:44 PM »
I used to read Penny Power magazine at the library in the 1980's

Imma

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #25 on: July 18, 2018, 02:31:34 PM »
I used to read Penny Power magazine at the library in the 1980's

I used to go to the library every week as a kid! Books were one of the few things I'd spend my pocket money on, but before I'd splurge on a hardcover book I wanted to borrow it from the library a million times to make sure I really liked it enough to buy it. I still have those books, about one shelf full of them. All timeless classics, all hardcover editions, all well read but in a good condition. Among them is the entire Little House on the Prairie series.

I wanted to play Little House as well, so I would take fabric scraps from the thrash bin next to my mum's sewing machine and hand sew them together while dressed up. I still have that quilt (and use it, in winter!).

soccerluvof4

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Re: What is the first mental thought of being Mustachian in your life?
« Reply #26 on: July 18, 2018, 03:37:03 PM »
At 15 my parents told me to get a job because if I wanted clothes for school and money to spend I better get a job and pay for it. I was never lazy and always had money in my pocket from that day forward and was a working fool. Sadly the saving part didnt come till much further on BUT i never took on debt. It scared me. I dont know why but I am glad it did
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