rewards of frugality

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Vaeagen
Posts: 168
Joined: Mon Aug 31, 2015 8:03 pm

rewards of frugality

Post by Vaeagen »

Hi all,
Sorry I have not posted more recently. I am starting to get some traction on my recovery from my broken leg and have lots of field work at work so I am not near my computer a lot...
Anyway, a thought came to me that not much attention is paid to the benefits or good side of frugality....let me elaborate....in the next few days I am going to be picking up a brand new car!! now on the surface that would seem like the exact opposite of frugality!! A brand new car!! How excessive! But hear me out....dh being a long time fireman and medic believes that having a safe car for his family is very important. We buy our cars new and keep them forever (my "trade in car" is a 2004)...we save every month for about 10 years to get a new car. So to me driving my new car is the benefit I get for being frugal!! For another person, something else maybe the benefit that is important for them. I guess it is all about priorities!! For me having new, name brand clothes is totally unimportant but having a new, safe, reliable car is very important so I will scrimp for years for this time when I get a new one. It is a luxury that we feel is worth it....and that is different for every person. It makes being frugal worth it to us.
I think being frugal can mean you are more rich because you can afford the things that are most important!! BTW, we are buying it for cash so no loans. Next month I will start saving money to be used to replace dh's 2014 vehicle.

Just a few rambling thoughts....

Valeroe

Vaeagen
Posts: 168
Joined: Mon Aug 31, 2015 8:03 pm

Re: rewards of frugality

Post by Vaeagen »

If I didn't have fat fingers you would know it is me,

Valerie

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Jackielou
Posts: 7907
Joined: Tue Aug 25, 2015 7:51 pm

Re: rewards of frugality

Post by Jackielou »

I think for us one of the rewards of frugality is being able to pay cash for whatever we buy. It is such a relief to not be in debt like many of my friends at this time in my life.

We also manage to save enough for some pretty nice trips by being frugal.

floridacatlover
Posts: 4055
Joined: Fri Aug 28, 2015 7:21 am

Re: rewards of frugality

Post by floridacatlover »

Enjoy your new car, Valerie. That's fantastic. And having no car payment is the best!

Vaeagen
Posts: 168
Joined: Mon Aug 31, 2015 8:03 pm

Re: rewards of frugality

Post by Vaeagen »

I was really thinking that so much is said and written about the sacrifice of frugality but not a lot is written about the benefits like being debt free or having the means to buy a brand new car. It's not all about drinking tap water or eating dry crackers! Being frugal leads to living rich!

Valerie

Dgflorida
Posts: 4381
Joined: Wed Oct 07, 2015 8:10 pm

Re: rewards of frugality

Post by Dgflorida »

This is a great subject. Thanks for starting it, V. It is true that sometimes you wonder if all the extra attention to details required to be frugal is worth it. I also buy cars with cash. And I keep them a long time. The rule is when they no longer feel reliable, they are gone. Sometimes, it is sooner than other times. ;) Some people save for a specific purchase like you and the car. I don't. I like to look at the balance sheet and see that it is bigger on the plus side than it was a month or a year ago. I like this site because I can share and get re-enforcement on good frugal habits. Since we are pounded every day with spend, spend, spend, this site and the people here are a good counter to the constant din of advertising.

When is something frugal and when is it stupid.When is it saving stuff and when is it hoarding. That is a question that I ask myself regularly. Everyone decided their own answer. A year ago, I reached the end of the accumulation phase of my life. Retirement and no significant income(except social security) was educational. The TV ads for brokerage companies say save more (we will mange it for you) and suggest there is never enough saved. I took a course many years ago called "managing your money". It said set a specific amount you want to retire with and make every penny count to achieve that goal. I did that. Hubs went along with it begrudgingly. Now, I can enjoy the rewards of the effort, but what I found is I enjoy the effort. For me, the reward of being frugal is being frugal.

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