Author Topic: Mustachian: no fear of being poor - or scared of ever being poor?  (Read 6919 times)

offroad

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Am reading posts and am starting to wonder:

1)  Are mustachians scared of becoming poor?  Do they go through all the possible fiscal disaster situations, and try to eliminate them one-by-one until they are at this peak of contrived fiscal security? Savings, insurances, education, coverage for extended family, putting away toys in life.

2)  Or do they have the opposite attitude.  One of a survivor mentality.  No fear of being poor.  No matter what happens, there is a way to solve it.  The celestial tide of life will bring a new saving experience in at the next turn.  Does not matter how you get smacked down.  We are getting back up again.

Kind of like the second attitude more, as it cultivates freedom.  The first will cultivate slavery to your assets, and liabilities, and persieved responsabilities.   

gdborton

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #1 on: October 04, 2012, 08:52:28 AM »
I think the idea of Mustachian is a combination of both (minus the fear in part 1).  That being said, people aren't all built the same and I'd think there is an even spread of people to each/both categories.

AJ

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #2 on: October 04, 2012, 08:58:08 AM »
For me it is some of both - but I would rephrase "scared of being poor" to "scared of being dependent". I want to always be able to care for me and mine if at all possible. If something were to happen (job loss, disability, etc.) I don't want to have to look back and say "Man, I wish I would have been smarter with my money when I had the chance." I want to make the best decisions I can in the good times so that I'm prepared if/when the bad times roll around.

It is also an issue of having a better relationship with money. I don't like the idea that I "need" a certain income to be happy. I want to develop habits that allow me to be happy at any income (eating at home, enjoying free entertainment, etc.)

But more than anything, I crave freedom. Freedom from work, yes, but also freedom from the hedonic treadmill and freedom from chasing the Jonses.

jrhampt

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #3 on: October 04, 2012, 09:05:55 AM »
I've been poor and young and am scared of being poor and old.  I also loathe corporate life, but am willing to put up with it for a few more years in order to avoid being poor.  Since I grew up poor, I know I have no one to depend on but myself.

kisserofsinners

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #4 on: October 04, 2012, 10:40:11 AM »
For me it's the 2nd. I've been poor. It's actually not too bad. At least it's would be easier now VS when i was a child. That was some shit and i feel like that experience better [prepares me to not get hopeless about it.

For me the reality is that i could move. If shit really went down, i could live in a trailer on my step mother's goat farm. The property is paid for. There's free food and goat milk. It's not glamorous, but i'd be fed and housed and with family.

I think what Mustasianism wants to do is make you ready for anything. Given that mentality, you're never really "poor". You're able to make the most of where ever you end up.

MoonPilgrim

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #5 on: October 04, 2012, 11:02:40 AM »
I don't think Mustachians are afraid of being poor once they hit FI, because they have planned for their income to cover expenses, and include a safety margin as a part of that plan.  Mustachians have tracked expenses and done experiments with frugality so they know what it takes to maintain a standard of living that's acceptable to them.

That being said, I'm absolutely terrified of being old and homeless.  It is my biggest fear, because I know I'll be entirely alone at the end--I'm younger by my closest friends by 20 years, and I won't have a family I can stay with.  Scary stuff.  So wage slavery for now!  :)

wiferkhart

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #6 on: October 04, 2012, 11:11:16 AM »
I don't fear being homeless.  We have land and are building a small house by hand, so we'll always have somewhere to live, but not having money for food/medical care scares the crap out of me.  Hence - striving for FI.

arebelspy

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #7 on: October 04, 2012, 11:21:58 AM »
I'm not worried about being poor at all.

I don't think it will happen, and if it did, I'd manage and survive and be just about as happy.

I want FI for freedom, not happiness.  I have that no matter what.
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Angelfishtitan

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #8 on: October 04, 2012, 11:49:10 AM »
I would say it is some of one (this is a savings blog after all) and a lot of two. Whenever my wife even mentions one of losing a job I always remind her that we already live on less than what only she makes (which is about half what I make), so even if only one of us had a job we would be set and still saving. I am also very confident on being able to get a job, neither me nor my wife have ever been out of work for more than a month when looking, and we are both willing to be underemployed if the need arises. Perserverance is a big part of my personal brand of Mustachianism, because it begins with doing without and bettering yourself to begin with.

However, I have never been poor, so I do not have a true respect for having to be without or have the possibility of homelessness hanging over me, so my view may differ if I had more experience.

Jamesqf

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #9 on: October 04, 2012, 12:07:09 PM »
There's a third choice.  I've been poor (as in not knowing which dumpster your next meal will come from poor), didn't like it, and prefer not to go back.  That's not my main reason for being Mustachian, though.  (To the extent I am: I've no interest in retirement, even though it's getting to where "early" is no longer an option.) 

It's really just a matter of living a more pleasant life.  Being financially independent (somewhere in the gray area between being independently poor and independently middle class) means I don't have to sweat bills or jobs.  I can do work I enjoy, in circumstances that let me take off for an afternoon hike, ski or horse ride if the weather's too nice to sit indoors.  If there's something I do want, I can buy it without budgeting, scrimping or going in debt, while a minimalist attitude means that I don't have to buy all sorts of consumer fad goods to provide me with retail therapy.

travelbug

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #10 on: October 04, 2012, 03:58:59 PM »
Interesting question.
I don't think I have a fear of being poor.
It's more that I feel I have unplugged from the fear of having to have stuff or live a certain way to be successful or fit into what society dictates.
I know that we will never be truly poor, third world poor, where I have to watch my children starve, dehydrate or die from diseases that are preventable.
We have more freedom than that, for which I am trult thankful.
When I feel fear I compare to what much of the planet deals with daily and know that we would have the opportunity to climb back up again. Nothing is set in stone, life has variables and by planning for these as much as we can and learning from mistakes of our own and others, I feel quietly content and free.

happy

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #11 on: October 04, 2012, 05:15:01 PM »
My folks were depression children and I grew up with a an ill defined "fear of being poor" even though we weren't.  This fear has at least partly contributed to  my need to stay in a highly paid job with its commeasurate lifestyle. Interestingly I've spent several years  as a "poor student", and found it quite liberating, but  this did nothing to counter the vague fear of being poor.

My prelude to Mustachianism was a couple of years ago I started reading a simple living blog called "Down to Earth" http://down---to---earth.blogspot.com.au/    which exudes MMMs optimism, a beautiful gentle blog about a couple THRIVING on an Australian Age pension (A$30k for a couple).

This completely opened my eyes to the joys of frugal living and I was hooked, but I was stuck on the financial details since I am not eligible for a pension ( nor would wish to take one). How to create the income stream?

Enter MMM and  Mustachianism: the financial  part of the solution ie the financial "how to" roadmap to create the 30k or so required.

So for me, Mustachianism has freed me from the "Great Fear of Being Poor".    Delicious irony since I am learning to live happily on numbers that I would have previously considered "Poor".

Kriegsspiel

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #12 on: October 05, 2012, 07:13:02 AM »
Am reading posts and am starting to wonder:

1)  Are mustachians scared of becoming poor? 

Naaaaah :)

Quote
2)  Or do they have the opposite attitude.  One of a survivor mentality.  No fear of being poor.  No matter what happens, there is a way to solve it.   Does not matter how you get smacked down.  We are getting back up again.

BOOYAH!  That's the spirit!

KMMK

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #13 on: October 05, 2012, 07:51:27 AM »
I just don't want to be poor when I'm too old to work at all. Other than that, not fearful.

offroad

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #14 on: October 05, 2012, 10:04:28 AM »
I really think that social security is barely able to provide a frugal ninja with the resources in old age to not be fearful of being poor. 

My mom is a frugal ninja  she makes it work well.  but there are a lot more that are not frugal ninjas, and end up relieing on their extended family to make it all work.  My x-girlfriends mom is the opposite, as she had my x pay for all her stuff. 
« Last Edit: October 05, 2012, 01:36:40 PM by offroad »

Zaga

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #15 on: October 05, 2012, 10:22:12 AM »
I don't have a fear of being poor, just a determination that my old age will be comfortable.  I have seen too many elderly relatives not able to pay their bills, that will not be me!

sibamor

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #16 on: October 05, 2012, 10:52:22 AM »
I have three very simple needs.  Not be hungry, not be cold, and not be without her.  Beyond that I can put up with anything.

Catbert

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Re: Mustachian: no fear of being poor - or scared of ever being poor?
« Reply #17 on: October 05, 2012, 11:39:49 AM »
I grew up poor (alcoholic father who couldn't hold a job poor, not 3rd world country poor).  I always knew/vowed that I (a) would never rely on a man to support me and (b) would do whatever it took to not be poor.  To that end I got a job with a large, stable company after high school, went to school at night, and progressed up the ladder at that company until retirement.  Never had to rely on a man for support and (luckily) never had be a sex worker either.

No sure if that's fear or no fear of being poor.