1) Do you use coupons?
2) Do you save at least 10% of your income?
3) Do you buy used cars, not new, and drive them for more than 5 years?
4) Do you shop at second-hand stores?
5) Do you read Consumer Reports?
6) Do you avoid buying full-priced merchandise?
7) Do you buy generic drugs and store-brand groceries?
8) Do you reject "keeping up with the Joneses"?
9) Do you have zero credit card debt?
10) Do you buy and sell on eBay?
Bonus: What do you do with all the money you save by being frugal?
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59 comments:
1) Do you use coupons? --No
2) Do you save at least 10% of your income? -- 50%
3) Do you buy used cars, not new, and drive them for more than 5 years? --Yes
4) Do you shop at second-hand stores? --Yes
5) Do you read Consumer Reports? --No
6) Do you avoid buying full-priced merchandise? --Yes
7) Do you buy generic drugs and store-brand groceries? --Yes
8) Do you reject "keeping up with the Joneses"? --Yes
9) Do you have zero credit card debt? --Yes
10) Do you buy and sell on eBay? --Yes
Bonus: It's still sitting in Yen and treasury market funds.
There are times when being frugal is a smart thing. Being frugal allows me to buy more stuff for the same amount...
yes to everything except reading consumer reports and shopping at 2nd hand stores.
extra money - bank it and put it into agriculture and gold.
keep up the good work Keith.
1) Do you use coupons?
No, usually get better deals on stuff that's on sale.
2) Do you save at least 10% of your income?
I save about 50% while I still have a job.
3) Do you buy used cars, not new, and drive them for more than 5 years?
No, buy new cars drive them 15 years.
4) Do you shop at second-hand stores?
Sometimes.
5) Do you read Consumer Reports?
Sometimes
6) Do you avoid buying full-priced merchandise?
Never buy full priced stuff.
7) Do you buy generic drugs and store-brand groceries?
Most of the time.
8) Do you reject "keeping up with the Joneses"?
The Joneses just got foreclosed on.
9) Do you have zero credit card debt?
Pay i off every month.
10) Do you buy and sell on eBay?
Yes. Let's you determine true market price of an item in a hurry. Sometimes I just check the price on Ebay to make sure I don't get ripped off buying locally.
1) Do you use coupons? --No
2) Do you save at least 10% of your income? -- Way more.
3) Do you buy used cars, not new, and drive them for more than 5 years? -- No, I use a company provided car. Even better as there is no depreciation, maintenance or insurance. Free gas too.
4) Do you shop at second-hand stores? --No, but I negotiate often.
5) Do you read Consumer Reports? --No, it's useless.
6) Do you avoid buying full-priced merchandise? --Usually.
7) Do you buy generic drugs and store-brand groceries? --Drugs are all covered by my employer. Zero out of pocket. I do buy expensive groceries though (got to live a little).
8) Do you reject "keeping up with the Joneses"? --Totally!
9) Do you have zero credit card debt? --Yes. Zero other debt also - nothing.
10) Do you buy and sell on eBay? --Not since I moved out of the USA.
Bonus: Speculate on stocks $100k here and there. The rest is in the Bank, in a mixture of US dollars and Asian currencies.
Hope 2009 brings you good fortune, Keith!
Way back in 1992 I got a big promotion and a raise. A good friend of mine cautioned me, "be careful, before you know it your lifestyle will expand and it will seem like you're not making anything extra." Well, I took that to heart. I pretended I never got that raise. I took almose all of the extra money and saved it. For 20 years I saved it... including all the subsequent raises. (I did use some of my bonuses for travel and special purchases.)
So, now as things contract, torturing many, I don't have to adjust to any new "cool" frugality. I've been cool for years! (who knew?)
I'm a yes on all your questions except for eBay and Consumer Reports (they were wrong too often). I do shop on Craigslist and I shop at flea markets and frequent storage facility auctions.
Also, I have never had a balance on my credit card...I prefer the old-fashioned term "Charge Card".
I've also always hated going to the mall and cringe at the thought of going to Wal*Mart.
I need a new country. Any suggestions? Too late, I don't want to be an American in a foreign land. It's bad enough being a Yankee here in North Carolina.
YES, except USED CARS are risky.
Buying a new car, taking care of it and driving it until it becomes unreliable is IMO the best way to be frugal.
Yes to all. Good questions.
I've always been frugal both by nature and by upbringing. I like to make things, had a dad who could make anything from scratch and it seemed a lot of fun to do that. So if it's not something that needs to look culturally correct (some things do), I might try making it myself. Dad had a business and bought many things wholesale, and after you find out what that is, who wants to pay retail? Never had a very high income so always had to buy used cars, which I drove until they were dead. Don't have credit cards. Can't save much, must admit that, but I sure can stretch what I've got. I shop everywhere, try to pay a low price no matter what for same quality. The number of things you have to buy full price to buy or get quality is less than 1 percent. I shop at yard sales, occasionally second hand stores, but I find yard sales meet that need. I love estate sales going way back because quality is great.Tools, cooking equipment still useable after half a century, sort of finds.Haven't tried ebay. Might, or etsy.com (more craft oriented) one of these days. Don't care for coupons except for toilet paper and pet foods for most part because most are brand names and I have nutritional issues with a lot of "popular" food. Further down value added/technology chain, less expensive. IE clump of brocolli is more veggie for less money than cream of brocolli soup, which I can whip up in 20 minutes or less myself, and serve 5 people...
I think you could say I like my money to be effective. How many of my needs can I get it to cover, or the needs of those I love. It was earned by the hours of my day, my life, my effort. No one cares about my life as much as me or my family as much as we do. Thrift and creativity is a way of meeting family needs in lieu of money.
grandma pkk
> 1) Do you use coupons?
No. Burdensome discount schemes == consumerist hell. Hopefully, nearly every attempt to introduce rebate coupons, bonus miles or loyalty cards to the Russian consumer has failed.
> 2) Do you save at least 10% of your income?
Sure.
> 3) Do you buy used cars, not new, and drive them for more than 5 years?
I prefer new subway tickets.
> 4) Do you shop at second-hand stores?
Yes, at least that's the place to go for some unusual computer hardware.
> 5) Do you read Consumer Reports?
No. Why read more when you can consume less?
> 6) Do you avoid buying full-priced merchandise?
Yes.
> 7) Do you buy generic drugs and store-brand groceries?
Yes.
> 8) Do you reject "keeping up with the Joneses"?
Yes. The Russian equivalent of Joneses is "kak u lyudei" - "like [other] people do", shaped by the Soviet egalitarian past. Deviate from the mean in either way, and find yourself ostracized.
> 9) Do you have zero credit card debt?
I have zero credit cards.
> 10) Do you buy and sell on eBay?
No, for logistical reasons.
> Bonus: What do you do with all the money you save by being frugal?
I donate it to anti-consumerist campaigns (j/k)
Yes to all your questions ,but I can't save very much anymore .I'm on a fixed income and my savings are making 2% these days .Every year the health costs go up and they raise the co-pays on my health insurance .
I pay about 700 a month in health costs in spite of having Medicare because I have a sick wife ,while I take care of her most the time now.
Don't ever have a stroke because the system throws you to the dogs and considers its long term care and doesn't pay for it . After the Doctors try to make a bunch of money off the situation ,they turn you loose to do the real care . Don't ever think that Medicare is some big give-a -way, because it isn't .I paid extra for insurance also ,but it doesn't matter . You guys don't realize all the disclaimers they have in insurance policies and
Medicare .
So , I guess my point is that you should save even more for retirement for medical costs because they screw you in the end .
I am a little too ADD to use coupons, but I do rent a small, energy-efficient apartment, own a car I bought used in 2000 (I had a reliable mechanic check it out first, of course. He liked it so much he said if I didn't buy it, he would. Oh, and it's Japanese.)
I do 99% of my shopping in thrift stores. I draw the line at shoes and underwear. But everything else is washable to my standards. I think it's a great idea to buy household goods and furniture second hand. Saves the landfills.
I buy whatever I can generic and on sale. I pay off cc bills every month. I buy and sell on ebay.
Joneses? What Joneses? They lost it all with Madoff!
Frugal is the new black!
Despite doing-- literally-- all these things, before I read the survey questions, I definitely thought I wouldn't qualify as "frugal."
But then again, my Dad used to have me make ice for a week before a party, so he wouldn't have to pay money for a few bags from the store.
HE was frugal.
Used cars are a crapshoot. A lot of people have no clue how to take care of their car.
1) Yes
2) YES
3) New, kept by 1st for 17 years
4) No
5) Yes
6) Yes
7) Yes, but not always
8) Who are the Joneses?
9) Yes
10) No
Bonus: What do you do with all the money you save by being frugal?
I save it; I invest it conservatively; I have helped family and I hope to help them more.
Go back and look at the Story of Stuff on youtube again. Quit buying stuff. You don't need "stuff". Do without. Use your money to buy services from people who need food and shelter. Recycle everything. Use it over, make do. Do without. Most of the world does this. As much as Americans do they still consume more than Europeans.
1) Do you use coupons?
Yes
2) Do you save at least 10% of your income?
Yes - 50% or more
3) Do you buy used cars, not new, and drive them for more than 5 years?
I take public transport. Not primarily to save money, but its just easier to do so in Japan. Although I am eying a second hand scooter for 300$.
4) Do you shop at second-hand stores?
No.
5) Do you read Consumer Reports?
Yes
6) Do you avoid buying full-priced merchandise?
Discount shops ftw.
7) Do you buy generic drugs and store-brand groceries?
Yes. Groceries are from mom and pop farmer-stalls, better quality for cheaper.
8) Do you reject "keeping up with the Joneses"?
Yes
9) Do you have zero credit card debt?
Yes
10) Do you buy and sell on eBay?
No. Craiglist is better.
The fact that we have to ask people these questions is sad. All these are basic things everyone should always be doing unless you are worth $20mil++
"...USED CARS are risky.
Buying a new car...is IMO the best way to be frugal."
No. The depreciation is very high the first year or two.
I wouldn't buy from a woman, teen/young, or poor person for obvious reasons.
We buy well-maintained, reliable brands(Toyota, Volvo) 2-3 years old after scrutinizing the hell out of them, and sell them after a few years.
Before the maintenance spikes.
They still look/drive reasonably new, but our depreciation/mile-year is way low.
I have bought several used cars over the years.
Some, worry free.
Others, nothing but trouble!
So it's a crap shoot
All except coupons. Too much hassle and it's actually a commercial trap.
1) Do you use coupons?
No, waste of time. Go for really good sale items
2) Do you save at least 10% of your income?
yes, that and more!
3) Do you buy used cars, not new, and drive them for more than 5 years?
No. Buy my cars and trucks brand new, get extended warranty from third party (never from the dealer,) dive them till they drop. Use company vehicles as much as I can. I work my shopping in on lunch hour.
4) Do you shop at second-hand stores?
Goodwill, Salvation Army, Love em!
5) Do you read Consumer Reports?
No. Complete waste of time. Their reports are slanted.
6) Do you avoid buying full-priced merchandise?
Yes, whenever possible. Sometimes you just got to have that brand new and improved bling. Just not often.
7) Do you buy generic drugs and store-brand groceries?
All the time. But I don't avoid name brand simply because of price. There can be a notable difference in quality.
8) Do you reject "keeping up with the Joneses"?
Are you kidding? In my neighborhood, I AM the Jones'.
And I know that I spend a lot less than those trying to "keep up" with me. I inherited frugal from my parents, God bless em!
9) Do you have zero credit card debt?
Definite YES. Credit card companies hate me.
10) Do you buy and sell on Ebay?
Occasionally. Another poster commented about using Ebay for price comparison, and I couldn't agree more. If you want to find out what in item DOES (not should a, could a, would a) go for on the open market, always check the COMPLETED section on an Ebay item. The price difference between what an item actually sells for in the real world, and what’s "on sale" on the local store shelf, or your foreclosed neighbor's front lawn, may surprise you.
Just a side note. Almost everybody I know is working long hours, usually two jobs, and barely making ends meet. My company, agricultural equipment (everybody’s got to eat, right?) has cut hours for the hourly employees for the first time in anyone's collective memory. I was out all day Saturday, and will put in half a day today Sunday (my choice of hours, not theirs, salaried, semi-retired.) I talked with a lot of people in my travels this week. In my area, the clueless are finally starting to get a clue.
The guy I work for in the last 2yrs has purchased a custom made sandrail (dunebuggy)plus a large toy hauler to take the buggy to the desert. A custom made 28ft powerboat (600hp)
A Gold Rolex Yachtmaster, plus Big vacations and cruises.
All because times 'were' good and money was rolling in.
Today, little or No work, Big payments on luxury toys....all told over $250K+ -!
Bet you he wishes he would have re-thought this spending spree!
I am one cheap sob.At least I have money while you tools don't.
Frugality is very cool, but I tend to be more of a minimalist, which also is a great way to save money.
My mantra: Buy quality even if it costs more, but own less.
Less is more.
And, of course, live within your means, always.
Money is parked in gold, cash, real estate and my daughter's hand made German cello...
Ques. 1 - 10: YES on all
Bonus: What do you do with all the money you save by being frugal?
Ans. Pay the hideously high child support that takes 25% of my gross income.
Extra credit question - When will the Revolution hurry up and arrive in order to crush the above mentioned State child support system?
1) Do you use coupons? --No, I wait for sales.
2) Do you save at least 10% of your income? --More, about one third.
3) Do you buy used cars, not new, and drive them for more than 5 years? --Yes, my truck was built in 1999. *Warning: Watch out though, only divorce can be more financially draining than a lemon.*
4) Do you shop at second-hand stores?--sometimes
5) Do you read Consumer Reports? --never
6) Do you avoid buying full-priced merchandise? --When I can.
7) Do you buy generic drugs and store-brand groceries?--When I can find them.
8) Do you reject "keeping up with the Joneses"? --Why would I want to act like those idiots? Ha!
9) Do you have zero credit card debt? --No credit cards
10) Do you buy and sell on eBay? --No
Yes to many of these. Most important ones are saving as much % of income as possible, and eschewing debt of any kind.
With my extra savings, these days I buy bullion and/or invest in agriculture & precious metal mining ETFs. My brother, who follows a similar track, uses his extra $ to buy survivalist gear (food, fuel, equipment, guns). I'm not there yet, but thinking more about it...
1) Do you use coupons? Yes, but not as much as I would like -- sales + coupons=free/nearly free
2) Do you save at least 10% of your income? Back of the envelope calculation = 20% of pretax income in savings annually.
3) Do you buy used cars, not new, and drive them for more than 5 years? Sometimes. If I buy new, I keep it for life (which I have discovered can be sadly short on American cars).
4) Do you shop at second-hand stores? Sometimes -- not always the best value.
5) Do you read Consumer Reports? No -- CR is not always right in my experience.
6) Do you avoid buying full-priced merchandise? Always.
7) Do you buy generic drugs and store-brand groceries? Usually, but sometimes there is a distinct difference between brand and store brands (most recent experience is pie crust -- brand name is better than my local market)
8) Do you reject "keeping up with the Joneses"? I and my family actively mock the Jonses.
9) Do you have zero credit card debt? Yes -- I have NEVER had CC debt in my 20 years of charging stuff.
10) Do you buy and sell on eBay? Yes, but you MUST be careful -- I have often found stuff new locally or online for less than eBay.
Frugality is in big time. I'll pay for quality gold, guns, ammo, and food within reason, but I spend as little as I can get away with.
yes to all.
we have zero debt
eBay is a awesome
used 4runner runs smooth
sites like consumerist.com help a lot and HP blog saved us from financial ruin(thanks Keith!)
with the money we save we are putting some cash aside but most of it goes to buying silver bullion,we started doing this last year but in the last 3 months our deliveries are taking less than a week, when in the past it would take 6 weeks,weird.
and we never kept with the Joneses.
especially now because they are broke!
1) Do you use coupons -no because it's usually an ad campaign and I don't really want the stuff.
2)Do you save at least 10% of your income - saved 30 percent for 20 years and retired. Made about 90 K at the end in 2003.
3) Do you buy used cars, not new, and drive them for more than 5 years? --Yes
4) Do you shop at second-hand stores? --Yes
5) Do you read Consumer Reports? --No, behind the times and suspicious that it is really ad paid.
6) Do you avoid buying full-priced merchandise? --Yes
7) Do you buy generic drugs and store-brand groceries? Yes, but they can be disappointing sometimes and I do change around.
8) Do you reject "keeping up with the Joneses"? --Yes, always have.
9) Do you have zero credit card debt? --No but it is at zero percent and could be paid off tomorrow.
10) Do you buy and sell on eBay? --No, I don't like bidding games, and as far as selling goes, I don't understand ebay that well and am worried about shipping costs.
1) Do you use coupons? - Not exactly. I use "points" programs and discounts. Coupons are usually designed to promote overpriced foods & services.
2) Do you save at least 10% of your income? - yes
3) Do you buy used cars, not new, and drive them for more than 5 years? - I bought my first new car in 2005. It has less than 30K miles on it. I don't plan on selling it for a long long time. Previous cars were all used and I got tired of spending $$$ for maintenance.
4) Do you shop at second-hand stores? -used books and CDs. Rarely buy clothes or furniture so I'd rather buy new and have something that lasts longer/stays in style longer.
5) Do you read Consumer Reports? -no
6) Do you avoid buying full-priced merchandise? -yes. Always looking for discounts/deals on expensive items. Don't have the time to worry about 10 cents off corn.
7) Do you buy generic drugs and store-brand groceries? - I would, but fortunately I don't need anything.
8) Do you reject "keeping up with the Joneses"? - since I'm better off (luckily) than most of my friends that's easy to do.
9) Do you have zero credit card debt? -yes.
10) Do you buy and sell on eBay? -yes, although I like craigslist and amazon better.
Lady Di,
Like your philosophy.
Keith, I'm a 36 year old guy with cheap rent and a good salary. I buy what I want when I want but don't give a crap about keeping up. I do ok.
1) Do you use coupons?
- No, can't be bothered
2) Do you save at least 10% of your income?
Of course.
3) Do you buy used cars, not new, and drive them for more than 5 years?
Yes, see question #5
4) Do you shop at second-hand stores?
No. I don't want more stuff, I want better stuff.
5) Do you read Consumer Reports?
Yes. I would not make a major purchase without it. The Used Car Buyer's Guide is my bible for buying cars. Can't believe so many SAers don't use it. Do they know it's a non-profit? Do they know assessments are independent and based upon objectively selected criteria and empirical data?
6) Do you avoid buying full-priced merchandise?
No, not really. I don't buy a lot of stuff so that when I do I buy what I think to be best, regardless of price. I would rather have 1 Zegna shirt and wear it for 5 years than 10 new shirts per year from wal-mart.
7) Do you buy generic drugs and store-brand groceries?
Yes.
8) Do you reject "keeping up with the Joneses"?
Yes. I hope that I buy things for me, not because I am so desperate for respect that I spend hard-earned money in what is ultimately a vain pursuit.
9) Do you have zero credit card debt?
Yes. Credit card debt is crazy.
10) Do you buy and sell on eBay?
No. But I've found some really good stuff on craig's list.
yeah now that i can't get the credit to buy what i really want i do all the stuff on your list. i did notice you didn't mention anything about going on exotic vacations so i guess you have issues with practicing what you preach. save what money the economy effectively fucked that up.
1) No, we don't take the paper
2) ~30%
3) Yes, 2 Toyotas (8 & 5 yrs) but the cars are definitely an extravagance in our very walkable/public transit friendly city.
4) Usually the first place I look
5) No need, rather ask a friend
6) Yes
7) Yes on the drugs; I have no problems opting for the generic, except for cereal: I can't do the generic cheerios, just plain nasty.
8) Recently we have managed to slingshot past the Jones without changing our lifestyle.
9) No debt at all
10) No
Bonus: Try to find places where it will (hopefully!) still be there when I need it: major purchases, emergencies, college for the lil' republicrat, and retirement. And sometimes we'll use a little to take a trip somewhere fun.
Hi Keith,
Given this topic can you please add two more surveys to your sidebar:
Current yearly income
Current net worth
Should be interesting to see where S&A'ers measure up given the current economic mess we're in.
Thanks.
Yes to most, except usually don't buy at second hand stores. . .but do buy on Craigslist, so that is about the same - don't use EBAY much. . .Craigslist is more local. . .keep money in money-market at Fidelity, and hope to hell they don't "break the buck". . .keep some in Swiss Francs. I walk most places here in downtown San Diego, and put less than 4000 miles a year on my 1996 Corvette - still in mint condition - bought that in 2000 at a consignment lot in San Jose after the dotcom crash put thousands of sportscars on the used car market.
No. The depreciation is very high the first year or two.
Actually that's a myth, depending on the car you buy. For instance, if you buy an used Japanese car or Mercedes, a couple of years old, the depreciation is minimum because these cars hold a lot of residual value. The difference is about $1,500, but you get one with a zillion miles. The less miles, the more they jack the price up of an used one. So it's not worth it to buy an used car like those; better buy new and run it to the ground. But that works only with those makes.
Ok, I do every one of those things and always have done so. I could probably write for Consumer Reports; at least about household stuff. My neighbors and family call me for the 411 on appliances and household products.
Coupons: Mostly only worth it for the 20% to 40% off at retailers and at restaurants. Too many product coupons are for heavily advertised packaged food and products. We eat mostly fresh food, which means I like to work in the kitchen. I try to remember toothpaste coupons, but stocking up when items are on sale is usually smarter.
Saving: 10% is chump change. My husband is the expert on maniacal tracking of family finances. But then he keeps track of multi-billion dollar projects for a living.
Cars: We have never bought a new car. At this point in our lives, we do drive 2 (pre-owned)luxury cars. I do not feel as if I am defined by my car, which is a non-luxury car. My husband asks me if I want a new car, but I like my 13 year old jeep with low mileage. Most of the teenagers in my neighborhood drive newer cars! I do not think teenagers should have anything but a beater which they learn how to care for.
2nd Hand: I could write a book. Do you have any idea what people throw out? I have bought $3000 coats, Burberry trenchcoats etc. at the Salvation Army.
Full-priced merch: Having worked in retail, I know the rapid turn around from the front of the store to the sale racks at the back of the store. I have trained my children to hit the sales racks first. It's BS that you can't find basic anything on a sales rack.
Store-brand: Only when the quality is good. Sugar (but not flour), Beans (but not rice) etc...I make my own dressings, croutons, etc. Much healthier without all the additives.
Jonesing: I live on a street with a few heart surgeons ; gave up competing long ago. Even if you're Madoff, there is always somebody with more money.
Credit card debt: NEVER They are a major convenience and tend to give you a better exchange rate when traveling. 0 debt overall.
Ebay: My weakness. I buy more than sell, but then I never pay full price for anything. Selling is the only job I'm suited for; my husband appreciates the entertainment value. I am frequently astonished at what I am able to sell things for.
Bonus: Now? In cash and diversified 401K - which took a beating. In fact we have loaned money recently, since we can undercut the banks and make a little over what a bank is willing to give us. We can wait it out.
You didn't ask do we rent or own. That might be interesting.
Oh I forgot the bonus question. Live in Europe 3-5 months every year. Get together with family members many times a year.
Have no worries.
I like this subject. Have wondered about this stuff for a long time.
..Look it's totally cool. You can transcend the materialism without becoming a flipped out freevegan fruitloop. Just cut back on the BS and all the crap and focus on what's important. We need some stuff but you don't need all that extraneous stuff to make you happy. Focus on core experiences. Having a beer with your friends is a good thing...laugh at each other a little for being idiots....it's a human trait. Have a cold water on a hot day...it tastes good. Help your neighbor fix their faucet. Tell the Jones to Fck off. I was queuing up for a bagel and a little kid next to me wanted a Santa chocolate thing or what ever it was high up on the counter and couldn't reach it, so I got it down for her.... it was a really simple and I felt good. Appreciate stuff around you. Help people...and do some cool shit with your life. Be brave.
I buy high quality things I want at a huge discount on craigslist. Whenever I desire something in reason ie; racing bicycle, digital slr cameras, last years computers, a snowboard, a kayak etc I search craigslist in all socal cities then I drive my prius with cash in hand to get it and always lowball the seller.
I do this sometimes just for the hell of it. I also offer to trade as well as cash.
Now that the middle-class have less alternative, frugality has to be cool.
Frank? Frank? Cmon bro were waiting for your comment on this very important subject? Please just let us all know if your still alive. No ones heard from you in so long. Cmon Frank this thread is just for you.. How ya livin man???....inquiring minds want to know!
I've just watched Story of Stuff on Youtube after a commenter asked to do... I am dumbstruck!
http://www.youtube.com/watch?v=gLBE5QAYXp8
No
Yes
No
No
Rarely
No
Never
YES
ABSOLUTELY
No
No, GLD and cash, sold my FXF and FXE higher than here, and Treasuries are getting ready to tank.
I buy autos new, when I buy them--but I haven't owned one since 2003. I don't buy used. I don't buy generic. I don't buy crap I don't need. I don't buy crap that is likely to break soon. I don't buy image. I don't buy crap that I won't have time for, just to impress other people. I don't buy crap in order to buy the fleeting "wealthy" feeling some people apparently get. I don't spend time looking for "special" bargains--I wait until the price is NORMALLY cheap. Example: after 8 years of thinking about it, I still don't have a big screen TV--but 2009 may finally be the year.
You see, I LIVE BELOW MY MEANS, and instead of spending time clipping coupons, I use it to earn over $1 a minute, so I don't HAVE to pinch pennies.
Remember: It's a game; a contest; if someone is selling some crap and later on they have your money and you have the crap (with optional credit card debt), GAME OVER, YOU'VE LOST.
I'm the richest person in my family, relative to how many work years and investing years I've had.
I'm the richest person I know, other than some friends who are C-level executives who work more hours than I do.
I WIN.
Keith, I guess you forgot what I told the HPers a few years ago...I said "F--- the Jones, live you own life"
Sincerely,
Anton Chigurh
I had a 'when to buy' rule for decades:
Bedding and such stuff - January.
Winter clothes - March
Summer clothes - September
I still have thick beautiful cashmere sweaters purchased for $10, a beautiful long black wool $50 coat, etc.
You need to buy 'classic'
clothes, not whimsical fashions.
That is all.
Anton Chigurh
1) Do you use coupons? Yep. And discount cards.
2) Do you save at least 10% of your income? Hell, yeah.
3) Do you buy used cars, not new, and drive them for more than 5 years? Yes - our car is 11 years old.
4) Do you shop at second-hand stores? Yes.
5) Do you read Consumer Reports? I keep up with the economic situation generally, and have self-educated in economics.
6) Do you avoid buying full-priced merchandise? Yes.
7) Do you buy generic drugs and store-brand groceries? Yes - and eat low on the food chain to save money.
8) Do you reject "keeping up with the Joneses"? Yes, and have done so for a long time now.
9) Do you have zero credit card debt? Yes.
10) Do you buy and sell on eBay? I've never bought anything on Ebay, and don't use it. I do sell stuff secondhand though.
What you're asking is, Do you live within your means? The answer is yes.
1) Do you use coupons? Sometimes, but not as much as we should.
2) Do you save at least 10% of your income? Much more, it's different every month but averages around 33%.
3) Do you buy used cars, not new, and drive them for more than 5 years? Yes. I've only bought a new car once and will never make that mistake again.
4) Do you shop at second-hand stores? Eh, not really. I don't buy much aside from food and you certainly don't buy that second hand. Seriously, if I buy two pairs of jeans a year, why not get new ones?
5) Do you read Consumer Reports? Yes, although I keep feeling like they're trying to sell me a TV. I trust the reviews on amazon a bit more.
6) Do you avoid buying full-priced merchandise? Not really. The only stuff I typically buy is food. Even the occasional stuff (such as tools) I just purchase something quality and it lasts forever, so over time it's no big deal. However, I will say that I ensure that if I'm paying more that I'm actually getting something of higher quality, and that furthermore I actually require that level of quality. For tools I don't use often, I just get the cheap version or borrow it from someone.
7) Do you buy generic drugs and store-brand groceries? Yes. I'm picky with food, but the store brand groceries are frequently fine.
8) Do you reject "keeping up with the Joneses"? Absolutely. That stuff is pointless and boring. Listening to some douche talk about his new car is almost more than I can stand. Anyone can solve a problem with money, it's not interesting.
9) Do you have zero credit card debt? Yes. Sometimes a few things end up on there if we decide to go out and go over budget, but they're paid off next month.
10) Do you buy and sell on eBay? Sometimes. Craigslist is a little more fair to sellers.
Saving for a mortgage free Smug Bastard shack on small plot zoned for agriculture.
Smug Bastard
Coupons - not much
Savings % - about 40%
Autos - yes (motorcycles no)
2nd hand store - don't buy much
C.R. - sometimes
Avoid full price - retail is for schmucks
Store brand - yes
Keep up w/Jones - again, for schmucks
CC debt - paid monthly
buy/sell e-bay - nope
Smug Bastard
1) Do you use coupons?
No, shop at a bag your own and bulk grocery store and its WAY cheaper than using coupons at one of the big chains. I have been buying rib eye's for around $5 per pound for years and wonder why everyone says groceries are going up? If you shop at Safeway or Whole Foods, its your own damn fault so don't bitch about it!
2) Do you save at least 10% of your income?
More like 20%.
3) Do you buy used cars, not new, and drive them for more than 5 years?
One used for me and lease a new every 3 or 4 yrs for the wifey and kids. Always want the warranty, roadside assist and most importantly, latest safety equip for my ladies! Although my current lease is up in a year and the way things are going, leases won't be around or a good deal anymore. Unsure of what else to do at this point if thats the case.
4) Do you shop at second-hand stores?
No, but TJ Max and Ross are regular places for the girls to shop.
5) Do you read Consumer Reports?
Sometimes.
6) Do you avoid buying full-priced merchandise?
Of course, doesn't everyone?
7) Do you buy generic drugs and store-brand groceries?
Of course, doesn't everyone?
8) Do you reject "keeping up with the Joneses"?
Of course.
9) Do you have zero credit card debt?
Yes.
10) Do you buy and sell on eBay?
No, don't trust online purchasing or the internet in general. We buy books through Amazon.com and I use craigslist. But craigslist is local. People and thier blind faith in anything on the net and with computers in general is amazing. Not that I fear ghosts in the machine or big brother. I am not a paranoid freak. But when my money is leaving my hands or if someone is using my personal info, I want to be there to witness what the fuck they are doing with it! Plus, computers are at best a glorified calculator and they are groovy when they work right. But when they lockup, a whole bunch of shit gets fucked up!
Stupidity is not cool.
I have never owned a new car. I have not been to an auto show in 30+ years. I don't care what that junk looks like. It is 40 years after the Moon landing. The SR-71 Blackbird was doing 2,000 mph in 1964. I could pay cash for a new car today but I would not spend half a second thinking about it. You can buy a good new stereo system with what you lose on depreciation in the first year on a new car.
How much do Americans lose on the depreciation of automobiles every year? What do economists say about that? Would you believe $300,000,000,000 per year? When have you heard an economist talk about NET Domestic Product?
I bought my Archos PMA400 off ebay for $280. It retailed for $800. Somebody lost a bunch of depreciation. I ran a cross compiled C program on it and it beat the IBM 3033 mainframe running COBOL. That is a 1980 machine that cost $3,000,000.
People that spend a lot of money on technology they don't understand and brag about it are not COOL. They are DUMB. The entire economics profession has been lying to us by not talking about planned obsolescence and how much consumers lose on the depreciation of all of the JUNK. But they add the JUNK to GDP and call it economic growth.
GlobaLIES
.
Frugality is awesome because it helped me get out of my credit card debt! You just need to find a great bank, as well!!
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