Author Topic: Terminal Velocity--Frugalism  (Read 2056 times)

Elbata

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Terminal Velocity--Frugalism
« on: May 30, 2015, 09:59:40 AM »
I often read stories/ideas on MMM about frugality. Often I think it's out of necessity, wanting to save more, or other similar reasons.

It leads me to wonder: Has anyone on this board achieved terminal velocity with their finances (what I define as having more income than can reasonably spend for life) and still practice frugality?

I would think it's as MMM says about exercising one's frugality muscles. Once ways of frugality are part of one's life, it provides happiness/contentment to continue doing so.

MDM

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Re: Terminal Velocity--Frugalism
« Reply #1 on: May 30, 2015, 10:22:57 AM »
It leads me to wonder: Has anyone on this board achieved terminal velocity with their finances (what I define as having more income than can reasonably spend for life) and still practice frugality?
Depends on the definitions of "reasonably" and "frugality" - which can be in the eye of the beholder.

E.g., we could say we have achieved terminal velocity because we continue to practice frugality and thus keep our spending "reasonable".  But I'm sure we could outspend our income if we tried. ;)

arebelspy

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Re: Terminal Velocity--Frugalism
« Reply #2 on: June 01, 2015, 11:20:20 AM »
Once ways of frugality are part of one's life, it provides happiness/contentment to continue doing so.

Yes, this.

Typically if one hits this stage, they've realized that spending more doesn't make them happier, so why do it?

MMM could sell the blog for millions--lots more than he'd need.  But he doesn't have any use for more money, per se.  Most of us who hit FIRE don't need more money, and any extra beyond that would be passed on to something (charity, kids, whatever), not spent.
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forummm

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Re: Terminal Velocity--Frugalism
« Reply #3 on: June 01, 2015, 07:08:24 PM »
I don't see how I could ever quit being frugal. It would feel wrong. Why pay more to live than I really need? I have some luxuries, sure, and will keep them, and maybe add a little. But I don't need more. And there are others that do, and I think it's a better use of money to give it to charity. And it's a better use of my time to do something I enjoy than to stay at work for 10 extra years so I can blow money on crap.