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Living the Frugal Life *Official Thread*
04-04-2017, 12:41 AM
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#121
- jwlee7ucla
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I used to be like you op, but now I'm more or less the opposite.
Living a happy life
04-04-2017, 12:44 AM
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#122
I'm pretty conscious about what I spend money on, but still always consider effort/time as a cost (i.e. having a $ value). Many people fail to do that.
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04-04-2017, 04:51 AM
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#123
- Mike1991
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Originally Posted By fressssh⏩
I make around 200k a year as a tradie, I also have a few corporations for real estate holdings and investments. And just started my own business.~$5500 a month is $100k salary in california. how much are you pulling in a month to be able to save 5-8k?
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
RON PAUL 2012
04-04-2017, 06:10 AM
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#124
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Originally Posted By Mike1991⏩
what trade?I make around 200k a year as a tradie, I also have a few corporations for real estate holdings and investments. And just started my own business.
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
SS + GOMAD is all you need srs
04-04-2017, 06:14 AM
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#125
- Aesthetical
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Originally Posted By Mike1991⏩
MirinI make around 200k a year as a tradie, I also have a few corporations for real estate holdings and investments. And just started my own business.
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
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04-04-2017, 06:15 AM
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#126
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Originally Posted By FlexLex⏩
Only an absolute moron would move out of a $900 apartment to pay $1800 for a two bedroom apartment to impress some loser ******* on misc.You had me until "living in my moms attached apartment."
You arent being frugal by living in your moms basement, errr, I mean apartment. If you want to subtly brag about how much you save while being frugal, do it when you are truly on your own and have real person rent/bills, etc. Until then you are essentially living with mommy and daddy and giving them a gift to do so...
You arent being frugal by living in your moms basement, errr, I mean apartment. If you want to subtly brag about how much you save while being frugal, do it when you are truly on your own and have real person rent/bills, etc. Until then you are essentially living with mommy and daddy and giving them a gift to do so...
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04-04-2017, 06:18 AM
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#127
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Very inspiring to read all the comments here from like minded folks.
One of my best friends is the same way, we have the same goals and same out looks. Very easy to talk about money and financial situation with him.
Then I also have a friend that is exactly the opposite working 60 hours a week and only having $100 left over in his pocket every month with no savings and no investments.
My friend and I are looking into starting a landscaping company to supplement our incomes. But just start out with the basics, mowing, edging, trimming, clean up, & seeding. We have two lawn mowers, an edger, and a pickup truck with some rakes.
Wish us luck lol.
One of my best friends is the same way, we have the same goals and same out looks. Very easy to talk about money and financial situation with him.
Then I also have a friend that is exactly the opposite working 60 hours a week and only having $100 left over in his pocket every month with no savings and no investments.
My friend and I are looking into starting a landscaping company to supplement our incomes. But just start out with the basics, mowing, edging, trimming, clean up, & seeding. We have two lawn mowers, an edger, and a pickup truck with some rakes.
Wish us luck lol.
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04-04-2017, 08:00 AM
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#128
Just started acorn investing. One of my bank's does this but it's in some money market account earning basically nothing. With this, I plan to invest a portion of my extra money to this every month and leave it alone. I'll set a reminder quarterly to see how my invest,nets are doing but this is long term so no withdrawing. I have 20 dollars recurring a month at the moment( saved from dropping gym membership to lowest tier yesterday), and any purchase I make with any of my cards will automatically round up to the nearest dollar and invest the change to my portfolio.
04-04-2017, 08:24 AM
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#129
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Originally Posted By BMXcaprisun⏩
I just ordered the Hario Cold Brew Pot on Amazon, will be here Thursday.OP, buy a Hario Cold Brew coffee pot. Best 17$ 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.
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.
Cant wait for a home made iced coffee friday morning, going to get my coffee grounds today. Wife uses one of the single serve pod machines so it does no good for me.
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04-04-2017, 08:28 AM
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#130
- ProboscisMonkie
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Originally Posted By Aesthetical⏩
But .. but.. $5 starbucks coffee is way cooler!I just ordered the Hario Cold Brew Pot on Amazon, will be here Thursday.
Cant wait for a home made iced coffee friday morning, going to get my coffee grounds today. Wife uses one of the single serve pod machines so it does no good for me.
Cant wait for a home made iced coffee friday morning, going to get my coffee grounds today. Wife uses one of the single serve pod machines so it does no good for me.
04-04-2017, 08:36 AM
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#131
- stoverbruce
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In on this thread.
Graduated college last year and with a loan from my parents was able to buy a one bedroom duplex where I live in the first floor and rent the second.
That loan, on top of renovations, mortgage, student loans, and daily expenses has left me in a position where being frugal is a must.
Can't wait till this winter when I clear the loan from my parents and have an extra $1000 a month to save for my next property or eliminate student loan
Graduated college last year and with a loan from my parents was able to buy a one bedroom duplex where I live in the first floor and rent the second.
That loan, on top of renovations, mortgage, student loans, and daily expenses has left me in a position where being frugal is a must.
Can't wait till this winter when I clear the loan from my parents and have an extra $1000 a month to save for my next property or eliminate student loan
04-04-2017, 08:42 AM
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#132
Originally Posted By stoverbruce⏩
I'd suggest eliminating student loans before getting another property.In on this thread.
Graduated college last year and with a loan from my parents was able to buy a one bedroom duplex where I live in the first floor and rent the second.
That loan, on top of renovations, mortgage, student loans, and daily expenses has left me in a position where being frugal is a must.
Can't wait till this winter when I clear the loan from my parents and have an extra $1000 a month to save for my next property or eliminate student loan
Graduated college last year and with a loan from my parents was able to buy a one bedroom duplex where I live in the first floor and rent the second.
That loan, on top of renovations, mortgage, student loans, and daily expenses has left me in a position where being frugal is a must.
Can't wait till this winter when I clear the loan from my parents and have an extra $1000 a month to save for my next property or eliminate student loan
Good debt- rental property
Bad debt-student loan debt
04-04-2017, 08:53 AM
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#133
- solidus2k3
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can confirm, am frugal
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04-04-2017, 09:03 AM
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#134
- Jason265
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If I wanted to be frugal to the extreme, I could probably spend $1000 less a month. It would mainly come out of the food/alcohol budget. Not going to the extreme but trying to spend less.
"You have power over your mind - not outside events. Realize this, and you will find strength"- Roman Emperor Marcus Aurelius
๏ฟฝWhenever you find yourself on the side of the majority, it is time to pause and reflect.๏ฟฝ ๏ฟฝ Mark Twain
04-04-2017, 09:14 AM
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#135
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Originally Posted By Aesthetical⏩
Yes. The only reason is "to say I don't live at my moms apartment"...I mean I could move out for the next year or two and rent, thus paying an additional 700-800 just to say I dont live at my moms apartment, but thats fukin stupid LMFAO
Why are you getting so defensive over this?
When half of what you save, is only saved because you live at your moms apartment, it's easier to understand why you live there. Not that I would do it, but still.
Some people make more money than you, and because of that they are able to live independently while saving. Some people value living in their own place and being independent more than you, and while earning the same amount of money, they still chose to move out.
There's no reason to, basically, call people who don't live at their parents house "fukkin stupid LMFAO". Chill out.
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04-04-2017, 09:22 AM
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#136
Originally Posted By Brosnbroc****⏩
Then that isn't being frugal which is why he said it's idiotic. This thread isn't about what people find comfortable for them, it's about being frugal.Yes. The only reason is "to say I don't live at my moms apartment"...
Why are you getting so defensive over this?
When half of what you save, is only saved because you live at your moms apartment, it's easier to understand why you live there. Not that I would do it, but still.
Some people make more money than you, and because of that they are able to live independently while saving. Some people value living in their own place and being independent more than you, and while earning the same amount of money, they still chose to move out.
There's no reason to, basically, call people who don't live at their parents house "fukkin stupid LMFAO". Chill out.
Why are you getting so defensive over this?
When half of what you save, is only saved because you live at your moms apartment, it's easier to understand why you live there. Not that I would do it, but still.
Some people make more money than you, and because of that they are able to live independently while saving. Some people value living in their own place and being independent more than you, and while earning the same amount of money, they still chose to move out.
There's no reason to, basically, call people who don't live at their parents house "fukkin stupid LMFAO". Chill out.
04-04-2017, 09:24 AM
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#137
- W1LLW
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it's easier when you get older and when you don't run in certain circles. in my early 20's i was attracting girl gf's that just expected me to pay for everything cause i was making 80k+
yeah well dinner for two and cocktails is easily a $80 - $140 night. multiply that by 2 nights a week, and you're easily talking a mercedes car payment. haven't read the thread but know the point opee is trying to make and wish i had known it earlier in my life.
living frugal, or at least below your means frees up soooooo much life stress.
yeah well dinner for two and cocktails is easily a $80 - $140 night. multiply that by 2 nights a week, and you're easily talking a mercedes car payment. haven't read the thread but know the point opee is trying to make and wish i had known it earlier in my life.
living frugal, or at least below your means frees up soooooo much life stress.
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04-04-2017, 09:27 AM
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#138
04-04-2017, 09:39 AM
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#139
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I think everyone needs a wake up call in their early life... I had a tooth problem ($4K crown surgery) that I BARELY was able to pay for a while back, and never wanted to be in that chitty situation again. Now I have a $10K Emergency fund just sitting there for such events, and my normal savings account is growing healthier every paycheck.
My GF (who is a few years younger) just had her own reality check a few months back, got hit with a -minus tax return and speeding fine straight after buying $2K holiday flights... She took it like a champ, took a credit card interest hit instead of borrowing from daddy. Lesson learned, she budgets appropriately now and has been saving methodically.
I think it's good for people to get hit in the face with a reality check early on in life to really teach them the value of saving money and having some available at a moments notice. Together we plan to buy an income property home in the next few years.
My GF (who is a few years younger) just had her own reality check a few months back, got hit with a -minus tax return and speeding fine straight after buying $2K holiday flights... She took it like a champ, took a credit card interest hit instead of borrowing from daddy. Lesson learned, she budgets appropriately now and has been saving methodically.
I think it's good for people to get hit in the face with a reality check early on in life to really teach them the value of saving money and having some available at a moments notice. Together we plan to buy an income property home in the next few years.
04-04-2017, 09:41 AM
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#140
- Sarevoke75
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Lots of great ideas and comments ITT. In for more.
I cook 99% of every meal I eat, make my own coffee, and I don't spend hundreds of dollars on women like a lot of guys my age do. Both of my roommates make almost exactly the same as me (~40k) and are ALWAYS broke.
-They always eating out and weekend bat crawls
-taking girls out 3 or 4 times a week to impress them
-buy dumb chit
"I'm broke mang I can't do x, y, z this summer"
My friends are dumb
I cook 99% of every meal I eat, make my own coffee, and I don't spend hundreds of dollars on women like a lot of guys my age do. Both of my roommates make almost exactly the same as me (~40k) and are ALWAYS broke.
-They always eating out and weekend bat crawls
-taking girls out 3 or 4 times a week to impress them
-buy dumb chit
"I'm broke mang I can't do x, y, z this summer"
My friends are dumb
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04-04-2017, 10:00 AM
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#141
04-04-2017, 10:03 AM
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#142
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Originally Posted By W1LLW⏩
why be rustled? My parents were able to help me out and did just that. It's not free money. Family helps family, at least that how I was raisedi get so rustled when i read stuff like this, but congrats.
04-04-2017, 10:12 AM
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#143
Originally Posted By Mike1991⏩
mirin brah. i'm a software engineer living in SF making ~$100k. just starting to look for a new position, I should be able to get around $150k total comp and increase my savings / investment rates.I make around 200k a year as a tradie, I also have a few corporations for real estate holdings and investments. And just started my own business.
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
Probably save closer to 10k a month if you include cash from rentals and my new business
The key to being frugal and living a nice lifestyle is to only buy things that are APPRECIABLE assets. For example spending 50k on a nice kitchen and 25k to renovate your bathrooms will add a decent amount of luxury to your life, while still adding more value then what you paid for it to your house when you decide to sell. Whereas if you spent 75k on a new car, you're losing the majority of its worth within a few years.
You can be frugal and still enjoy the finer things in life if you're smart about it.
Sounds simple. But if you apply this to everything in your life you can build networth fast. The only thing I spend money on that isn't an appreciable asset is food/bills/clothes
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04-04-2017, 10:13 AM
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#144
- Mike1991
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Originally Posted By mp83⏩
Good to see fellow miscers in on this, just as dedicated as myself. We should start a thread or keep in contact to share business ideas/investment strategies. I dont know anyone in real life who thinks it's even possible to retire before 40.Damn, I am impressed. I am hoping to be financially independent in about 10 years (will be 43). I put away $4.5k per month
RON PAUL 2012
04-04-2017, 10:14 AM
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#145
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Originally Posted By IH8RICE⏩
very true. thanks for the adviceI'd suggest eliminating student loans before getting another property.
Good debt- rental property
Bad debt-student loan debt
Good debt- rental property
Bad debt-student loan debt
04-04-2017, 10:15 AM
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#146
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in on 5rd page
04-04-2017, 10:18 AM
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#147
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Originally Posted By IH8RICE⏩
He's doing a lot of "non frugal" stuff, so it's clearly about priorities. It's probably a cultural difference.Then that isn't being frugal which is why he said it's idiotic. This thread isn't about what people find comfortable for them, it's about being frugal.
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04-04-2017, 10:19 AM
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#148
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in. one of my best investments was a multi family home. we live on one side and rent the other. my mortgage with taxes comes out to less than 400 a month
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04-04-2017, 10:20 AM
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#149
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My HUGEST leak in my budget is eating out.
I don't spend money on coffee, only on occasion because I get coffee from the front office at my apartment or at work. Saves you a lot.
Still working on it. I do buy a few things but I try and find deals. Put money towards savings / HSA / 401k.
I don't spend money on coffee, only on occasion because I get coffee from the front office at my apartment or at work. Saves you a lot.
Still working on it. I do buy a few things but I try and find deals. Put money towards savings / HSA / 401k.
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04-04-2017, 10:22 AM
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#150
- MrAWatts
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That sounds miserable. If you died tomorrow you will have lived tight and enjoyed life less for no reason at all.
You'd have a stroke if you saw my spending habits.
BRB miserable if I don't take at least one vacation a month
BRB eating out is awesome
BRB new shoes/clothes for days
BRB BRB
Life is too short to be like that.
You'd have a stroke if you saw my spending habits.
BRB miserable if I don't take at least one vacation a month
BRB eating out is awesome
BRB new shoes/clothes for days
BRB BRB
Life is too short to be like that.
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