Author Topic: Article posted on IWTYTBR about frugality with response from MMM  (Read 6833 times)

CopperTex

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CopperTex

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #1 on: February 17, 2015, 02:33:33 PM »
Scroll down in the comments to see response from MMM :)

slugline

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #2 on: February 17, 2015, 03:06:18 PM »
In that comment, he says he's 36, which means it was probably posted the year he started his blog.

It would be fun to get those two guys in the same room and listen to them compare perspectives.

CopperTex

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #3 on: February 17, 2015, 09:41:46 PM »
Ahh... It was posted today on Ramit's Facebook. I guess he's recycling content.

solon

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #4 on: February 18, 2015, 06:07:41 AM »
I sure wish there were dates on the article and the comments. Can anyone find a date anywhere?

Avidconsumer

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #5 on: February 18, 2015, 09:26:08 AM »
I don't think the problem is a $4 latte either, but it is at the same time, as there's a knock on effect. $4 here and there soon compounds to $500 on little things that don't matter. I do think there isn't enough focus on increasing income on this forum by working side jobs/becoming self employed. I find the article about jobs that make more than $50k a month far more important than most on this site.

zephyr911

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #6 on: February 18, 2015, 01:22:38 PM »
I don't think the problem is a $4 latte either, but it is at the same time, as there's a knock on effect. $4 here and there soon compounds to $500 on little things that don't matter. I do think there isn't enough focus on increasing income on this forum by working side jobs/becoming self employed. I find the article about jobs that make more than $50k a month far more important than most on this site.
You're right that it doesn't come up explicitly in a lot of threads. But functionally, there's very little difference between a side hustle and insourcing things most people hire out. I would argue that the latter is just an easier version of the former - you took an easy job you were paying someone else for, and now you're "paying yourself" to do it instead. Once you've insourced all the low-hanging fruit, only then does it make much sense to leave your house for a side job.
I'm not knocking the side hustle BTW, because in addition to all-DIY all the time, I have three side jobs and they are truly the key to my future. They provide me with variety, new friends, new skills, real enjoyment, extra savings, and by replacing part of my full-time income they'll speed FI along by several years. But I honestly don't feel like there's much to say about them. Work is work, pay is pay, get what you can, and it all goes in the pile ('stash). MMM's stance is that increasing your income is great, but we generally have more power over our SR than anything else; hence, his focus thereon.

Side note:
I make my own espresso at home, not just for the 90% cost savings, but also because I do it better, and in less time than it would take to drive to a cafe' and sit in line for one. Fuck that noise!

MgoSam

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #7 on: February 18, 2015, 02:05:08 PM »
What is “marital inflection?"

dividendman

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #8 on: February 22, 2015, 11:53:48 PM »
What is “marital inflection?"

I think it's about how your life goes from good to bad after getting married.

zephyr911

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #9 on: February 23, 2015, 08:55:05 AM »
What is “marital inflection?"
I always thought it was the funny speech affectation developed by unhappy, stressed-out married persons.

Beaker

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #10 on: February 23, 2015, 01:03:55 PM »
What is “marital inflection?"

She actually said “point of marital inflection”. The term you want to look up is inflection point, which is (roughly) the point where a line on a graph goes from positive to negative, or vice versa. ie, it's a point where you change directions.

MgoSam

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #11 on: February 23, 2015, 01:13:46 PM »
What is “marital inflection?"

She actually said “point of marital inflection”. The term you want to look up is inflection point, which is (roughly) the point where a line on a graph goes from positive to negative, or vice versa. ie, it's a point where you change directions.

So this could be the "straw that broke the camel's back?"

zolotiyeruki

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #12 on: February 23, 2015, 03:18:23 PM »
What is “marital inflection?"

She actually said “point of marital inflection”. The term you want to look up is inflection point, which is (roughly) the point where a line on a graph goes from positive to negative, or vice versa. ie, it's a point where you change directions.
Math pedant here.  You're close, but not quite mathematically correct.  It's the point where the change in slope changes from positive to negative or vise versa.  So if the graph is accelerating downward, it's the point where its path downward starts slowing.

MrMoogle

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #13 on: February 23, 2015, 05:53:39 PM »
I don't think the problem is a $4 latte either, but it is at the same time, as there's a knock on effect. $4 here and there soon compounds to $500 on little things that don't matter. I do think there isn't enough focus on increasing income on this forum by working side jobs/becoming self employed. I find the article about jobs that make more than $50k a month far more important than most on this site.

50k/month is well into the 1%, so 99% aren't going to be able to do that.  Cutting out a $4 latte is possible for everyone, and if that's $100/month, you'd have $17k in 10 years if you invested it instead (at 7%).  If you cut out this small expense over a "normal" 40 year career, that's $262k:
http://www.buyupside.com/calculators/recurringinvestmentcalculatordec07.htm

Small things, compounded over a long time can add up to huge numbers.  And 99% of earners can save $100/month, instead of the other way around. 

Logic_Lady

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Re: Article posted on IWTYTBR about frugality with response from MMM
« Reply #14 on: March 05, 2015, 07:58:18 PM »
I don't think the problem is a $4 latte either, but it is at the same time, as there's a knock on effect. $4 here and there soon compounds to $500 on little things that don't matter. I do think there isn't enough focus on increasing income on this forum by working side jobs/becoming self employed. I find the article about jobs that make more than $50k a month far more important than most on this site.

50k/month is well into the 1%, so 99% aren't going to be able to do that.  Cutting out a $4 latte is possible for everyone, and if that's $100/month, you'd have $17k in 10 years if you invested it instead (at 7%).  If you cut out this small expense over a "normal" 40 year career, that's $262k:
http://www.buyupside.com/calculators/recurringinvestmentcalculatordec07.htm

Small things, compounded over a long time can add up to huge numbers.  And 99% of earners can save $100/month, instead of the other way around.

It's not possible for people who don't buy $4 lattes to begin with :) (Also, I think that may have been supposed to say $50K/year)