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Forum ยป Living the Frugal Life *Official Thread*
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Thread: Living the Frugal Life *Official Thread*

post 1489677461 04-03-2017, 02:37 PM
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#61
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Originally Posted By Bhruninha⏩
I'm a CPA, income is confidential lol
But if you make enough to support your lifestyle while still saving $1K per month, can't you easily make more through investments such as retail, etc?

There is no failure, only feedback
post 1489677511 04-03-2017, 02:37 PM
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Originally Posted By Bhruninha⏩
I do, still save $1k a month at least but I like expensive clothes, homes, cars, etc. would not be ok with a frugal lifestyle which is why I invested a lot in my career.
How old do you plan to be when you retire?
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1489677931 04-03-2017, 02:40 PM
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#63
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Originally Posted By BangBrahs⏩
But if you make enough to support your lifestyle while still saving $1K per month, can't you easily make more through investments such as retail, etc?
I have had luck with real estate the past 3 or so years so I focus on that. I try not to compromise on lifestyle though because I don't want to miss out on things while I'm young to have money when I'm old and won't be able to enjoy as much.
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post 1489678071 04-03-2017, 02:41 PM
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Originally Posted By SaviorSelfJT⏩
Why that and not a low cost index fund? Even with a savings account on the higher end of interest, you are still losing to inflation.
This guy knows. LOL if you are "investing" in a savings account. You missed out on a 20-25% gain over the last few years.

Index fund > savings account
post 1489678341 04-03-2017, 02:43 PM
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#65
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Originally Posted By LDARboyo⏩
This guy knows. LOL if you are "investing" in a savings account. You missed out on a 15-20% gain over the last few years.

Index fund > savings account
Yep. Index funds are riskier in the short term, but in the long term, savings accounts are far far riskier. You have a 100 percent chance of losing value in a savings account, and close to a 100 percent chance increasing with the index fund.
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1489678461 04-03-2017, 02:44 PM
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Originally Posted By SaviorSelfJT⏩
How old do you plan to be when you retire?
I probably won't retire, I enjoy my work a lot. If anything I would quit my job and just do investments or open some sort of business. I get a lot of satisfaction from doing business deals.
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post 1489678641 04-03-2017, 02:45 PM
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#67
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Originally Posted By Bhruninha⏩
I have had luck with real estate the past 3 or so years so I focus on that.I try not to compromise on lifestyle though because I don't want to miss out on things while I'm young to have money when I'm old and won't be able to enjoy as much.
As much as people are ragging on you ITT I think that's respectable (srs) as long as you are still saving for retirement. No sense in scrooging around in your youth, so that you can have a BMW when you are 80 so that you can drive to the doctor and back.
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1489678851 04-03-2017, 02:47 PM
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#68
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Originally Posted By Bhruninha⏩
I'm a CPA, income is confidential lol
inb4 works at a local Taxman
post 1489678861 04-03-2017, 02:47 PM
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30+ tax /month isnt that good for a phone plan. if you get one with friends or family you can get an even cheaper one with probably more data.
maybe save around 10 bucks a month


and why are you paying rent to live with ur mom
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post 1489679021 04-03-2017, 02:48 PM
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Originally Posted By SaviorSelfJT⏩
As much as people are ragging on you ITT I think that's respectable (srs) as long as you are still saving for retirement. No sense in scrooging around in your youth, so that you can have a BMW when you are 80 so that you can drive to the doctor and back.
Exactly! And that's if you're even lucky enough to be alive at 80.
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post 1489679651 04-03-2017, 02:53 PM
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#71
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Originally Posted By Iukas⏩
just a little tidbit for miscers who have their own apartment or live with gf, roommates, etc. it is easy to qualify for food stamps if you make less than 2200 a month. make an appointment, bring your paystubs, rental agreement, monthly bills (internet, electric, water) and as many IDs as you can. social, drivers, state etc.

this is what you pay taxes for and 6 months of help isnt shameful in the least. single guys can easily qualify for 200/month.
Seriously? Food stamps are for people with children dude. Not grown men.
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post 1489680011 04-03-2017, 02:56 PM
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Originally Posted By Iukas⏩
just a little tidbit for miscers who have their own apartment or live with gf, roommates, etc. it is easy to qualify for food stamps if you make less than 2200 a month. make an appointment, bring your paystubs, rental agreement, monthly bills (internet, electric, water) and as many IDs as you can. social, drivers, state etc.

this is what you pay taxes for and 6 months of help isnt shameful in the least. single guys can easily qualify for 200/month.
Pls go

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post 1489681781 04-03-2017, 03:11 PM
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#73
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Originally Posted By rynnp⏩
30+ tax /month isnt that good for a phone plan. if you get one with friends or family you can get an even cheaper one with probably more data.
maybe save around 10 bucks a month


and why are you paying rent to live with ur mom
Because she could be renting it out for 1500-1600 if I wasn't here. It's an income property, by me freeloading she would be losing money.
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post 1489684961 04-03-2017, 03:40 PM
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#74
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Originally Posted By Iukas⏩
just a little tidbit for miscers who have their own apartment or live with gf, roommates, etc. it is easy to qualify for food stamps if you make less than 2200 a month. make an appointment, bring your paystubs, rental agreement, monthly bills (internet, electric, water) and as many IDs as you can. social, drivers, state etc.

this is what you pay taxes for and 6 months of help isnt shameful in the least. single guys can easily qualify for 200/month.
I am sorry, but this entitlement-mentality has just about destroyed this great country.
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post 1489686271 04-03-2017, 03:52 PM
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#75
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OP, buy a Hario Cold Brew coffee pot. Best 17$ I've ever spent in my life. Been drinking high quality, cold brew coffee for ages now with that thing, and it costs next to nothing in coffee grounds. On mobile and don't feel like posting a pic.

Frugal crew checking in. Brb have more money than all my friends, dress better and have less stress simply because I'm not pissing away all my money at restaurants while also getting fat.
post 1489687381 04-03-2017, 04:04 PM
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#76
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I reuse condoms to save cash.
post 1489687501 04-03-2017, 04:05 PM
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#77
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Switching from eating at restaurants most meals to cooking almost all of our meals saves my wife and I enough money each month that we started doubling up on the mortgage payment. I'll also take about 30 minutes each month to go through the credit card statement and categorize purchases to see where I'm spending.
MFC
post 1489688351 04-03-2017, 04:13 PM
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#78
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Frugal life is the life. People stuck on those other things (ie status,"keeping up with the Joneses"), are being dumb.

Im at a huge crossroads now between giving up my really frugal/care about my self life, and the good woman who wants us to get married and all that.

Im a Miser to a very high degree, and love that peace of mind of having a high savings and a high income when compared to your expenses. The simplicity and peace of mind afforded to you as a single man, if you are doing even decently in life with that philosophy....
post 1489694261 04-03-2017, 05:02 PM
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#79
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Originally Posted By Bhruninha⏩
I'm a CPA, income is confidential lol
I'm a CPA as well - what type of accounting do you do (no whiteknight)? I find it funny that CPAs always end up doing the frugal thing. Doesn't help our reputation for being nerds at all.

In on this thread. I initially chose my field because I thought that it would afford me a ton of creature comforts (i.e. nice car, baller apartment, etc.). Reality hit hard pretty quickly. Started out in audit with the Big 4 making really crappy pay relative to the cost of living of the city I was living in and working terrible hours to boot. To make things worse, things got expensive for me quick because the partner I worked under was an ******* and wouldn't let me expense reasonable things like parking at the client site, which quickly ate into my already low salary along with rent, etc.

The point is, from there, I learned how to live on less and take pleasure out of the simple things in life and I'm kind of glad that I did go through that, even though it was miserable at times. I'm now within the consulting division at a firm that pays much more, and I'm honestly living close to the same lifestyle that I did before. I'm now saving at least 20% of my salary (including company match) in the retirement account and have $1000+ leftover each month that I usually just end up saving.

Sometimes I feel like I'm being too old-mannish and not living it up enough, especially since I now have the means to. That said, aside from a few small changes (i.e. upgrading my wardrobe from Banana Republic/Cole Haan to Brooks Brothers/Allen Edmonds, traveling more, and not turning down invites to hang out with friends on the weekend because I need to save money), I'm not really sure what else I "need" to spend money on.

I'm kind of curious what you guys like to splurge on. So far, for me it's been clothes (and even then, it's on-sale Brooks Brothers and factory second Allen Edmonds) and travel. Anything else that's worth it in y'alls opinions?
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post 1489694911 04-03-2017, 05:08 PM
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#80
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Great job, srs.

You will be really happy you did this the longer you do it for.

People waste a ton of money eating out, its crazy. Women especially do this as they oddly have no concept how to cook. hell, i didnt either but was hungry so figured it out. people like to stay stupid.

I dont spend much myself. of course I dont do much either like bars and clubs but dont really need or want to. I drink beer at home. Its more comfortable and all of my stuff is here.

I like to shop but thats just a replacement for a relationship and I know it. This is why women shop, to collect the love they dont have in life, just fyi. Anyway, if i want something, i will go to the dollar store or something. its not that I actually need stuff, I just want to get something so might as well keep it cheap. Maybe get some stuff from amazon, thats spreads it out over a couple days. the fun of the search, the purchase and then the fun of getting the item a few days later.
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post 1489695231 04-03-2017, 05:12 PM
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#81
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Originally Posted By SaviorSelfJT⏩
Why that and not a low cost index fund? Even with a savings account on the higher end of interest, you are still losing to inflation.
Completely understood and something I'm starting to lean to. I need to do a little more research. I've got around 20k in there at the moment. Any tips ?
post 1489695421 04-03-2017, 05:14 PM
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#82
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Originally Posted By nas_is_illmatic⏩
I'm a CPA as well - what type of accounting do you do (no whiteknight)? I find it funny that CPAs always end up doing the frugal thing. Doesn't help our reputation for being nerds at all.

In on this thread. I initially chose my field because I thought that it would afford me a ton of creature comforts (i.e. nice car, baller apartment, etc.). Reality hit hard pretty quickly. Started out in audit with the Big 4 making really crappy pay relative to the cost of living of the city I was living in and working terrible hours to boot. To make things worse, things got expensive for me quick because the partner I worked under was an ******* and wouldn't let me expense reasonable things like parking at the client site, which quickly ate into my already low salary along with rent, etc.

The point is, from there, I learned how to live on less and take pleasure out of the simple things in life and I'm kind of glad that I did go through that, even though it was miserable at times. I'm now within the consulting division at a firm that pays much more, and I'm honestly living close to the same lifestyle that I did before. I'm now saving at least 20% of my salary (including company match) in the retirement account and have $1000+ leftover each month that I usually just end up saving.

Sometimes I feel like I'm being too old-mannish and not living it up enough, especially since I now have the means to. That said, aside from a few small changes (i.e. upgrading my wardrobe from Banana Republic/Cole Haan to Brooks Brothers/Allen Edmonds, traveling more, and not turning down invites to hang out with friends on the weekend because I need to save money), I'm not really sure what else I "need" to spend money on.

I'm kind of curious what you guys like to splurge on. So far, for me it's been clothes (and even then, it's on-sale Brooks Brothers and factory second Allen Edmonds) and travel. Anything else that's worth it in y'alls opinions?
I'm in corporate finance. If you have big 4 experience you will be able to make a lot of money real soon. I love spending on clothes, we would get along at the mall lol. I also splurge on beauty treatments, hair, furniture and home decor. Early 20s I lived cheap and spent money on travel, partying and eating out. Now I prefer to have a nice kitchen and cook at home, have friends over for dinner parties,etc.
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post 1489695511 04-03-2017, 05:15 PM
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#83
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Originally Posted By fate0311⏩
I reuse condoms to save cash.
Would be cheaper to masturbate.
post 1489695831 04-03-2017, 05:17 PM
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#84
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Originally Posted By fate0311⏩
I reuse condoms to save cash.
I just don't use them at all, save boatloads


A fake name is much cheaper than a condom
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post 1489696661 04-03-2017, 05:24 PM
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#85
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Originally Posted By Bhruninha⏩
I have had luck with real estate the past 3 or so years so I focus on that. I try not to compromise on lifestyle though because I don't want to miss out on things while I'm young to have money when I'm old and won't be able to enjoy as much.
Have you been on biggerpockets podcast before?
post 1489696941 04-03-2017, 05:27 PM
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#86
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Originally Posted By IH8RICE⏩
Have you been on biggerpockets podcast before?
No, what is that?
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post 1489698731 04-03-2017, 05:43 PM
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#87
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Originally Posted By IH8RICE⏩
Completely understood and something I'm starting to lean to. I need to do a little more research. I've got around 20k in there at the moment. Any tips ?
Here's a good place to start:

https://www.bogleheads.org/wiki/Vide...ent_philosophy

There's also a forum there if you are interested
Best lifts:
Bench press: 315x5
Squat: 465x1
Strict press: 205x5
Deadlift: 405x13 (conv tap'n'go with straps)
post 1489699401 04-03-2017, 05:50 PM
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#88
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Lmao @ ur wife being frugal

All women these days want to dump loads of $$$ on to designer clothes and bags. If she isnt getting the luxury and the status she so deserves then shes going to get it elsewhere boyo
post 1489701701 04-03-2017, 06:10 PM
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#89
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misc frugal crew if you had $8K to your name with no income and your monthly expenses were low... $700 for rent/internet and $100 for car insurance how long could you survive? With no income? Oh, and 6K in CC debt (on 0% interest for another 3 months)

Asking for a friend of course...
post 1489702501 04-03-2017, 06:15 PM
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#90
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Frugal crew checking in

Able to save 5-8k/month

Live in a chitty house well below my means, bike to work (no car), don't eat out, don't really go out too much, and if I do I pre drink. All my hobbies are fitness/health related. Working out, biking, swimming, reading.

I invest everything I save aggressively and should be able to retire by 32
RON PAUL 2012
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