Discussion for frugal living

[blackrose]

I turned 30 last year and will be turning 31 within a couple of months...so I figure it's time to start making the money I make count for something. I've done some research on how to live on the cheap; but much of what I've found out there is kind of bull, generic advice aimed at your average consumerist moron. You know the types, "make money by doing amazon reviews" or "fill out online surveys" and stuff like that.

All malarky.


I've decided to give up the ghost on bachelor life and plan on moving in with my current girlfriend to help us both save money. I've managed to reduce spending to gas and food almost entirely. Gave up drinking and smoking. Those two were a huge leak in my pocket, more than I could ever have imagined at the time (if I actually had the motivation to quantify it).

Vices are the #1 way you end up wasting money, I am absolutely positive about it now after living with so many over the years. I only wish I'd become financially responsible earlier in life, but what can you do?

Another mistake was buying a car which requires payments. I'll never do it again.

Not having a father who could have showed me how to change my own oil, or fix a tire, has also meant spending more money where I could have saved. I'm using Youtube University to learn those things now but i'm lacking in tools and skills.

My chick sews; and I'm making sure we don't spend needlessly on new clothes where we can repair.

That's one thing our forefathers knew how to do: Buy once, repair indefinitely. Today, most just throw things away without giving it a second thought.

I firmly believe my generation is going to have to learn to be skilled at these sorts of things to survive as the economy gets worse.

So what are your ways to save and cut down on costs, fellow TNet posters? I figure being treasure hunters and history buffs this would be a good place for such a post.

 

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[Timecop67]

Moving in with Girlfriend?.....could cost you money instead of save you money. I'm thinking kids....etc or future marriage. My friends all have had major divorces which have cost them a sizable fortune. I have stayed single and have lived the travel life style....at 50 have visited a lot of dream destinations like Tahiti, Fiji, Switzerland. It is all what you want out of life in the end....all about the memories you want. If you love kids that is okay too....just have to pay for them.

Saving..... start small and it will accumulate over time. Vices.....I only have one and that is wasting money on those darn lotto tickets. lol

 

[DeepseekerADS]

Well, I've some thoughts on this as well.

YOU'RE YOUNG, a puppy in the things which come along.

The major things that come along, maybe the greatest is divorce. Once upon a time I did very well, and then I had nothing. I've three kids I love to my death, but in loving them it has been a major drain. I always had what I figured as a proper approach to wealth building (nest making).

But those plans suffered repeatedly.

The major thing I came away with in my life was sanctuary and ideas. My farm is a kilometer up a muddy holler, it is all mine with zero banking partners. And I hide up here safe from all, but keeping my dreams of delight - the simple things, just like the finds we come across when out detecting.

Shed all parasites, period.

 

[trdking]

Best advice ever given me was by my grandfather. "Its not what you make, its what you save" Spend less than you make and save the difference. You can make a million dollars a year and spend a million and one dollar you are a poor man. Religiously save, invest a portion of it wisely. Find any way possible to make extra dollars and save that too. Now go out and get all that good stuff your generation is throwing away and sell it! There is money laying in the streets, just keep your eyes open

 

[Rebel - KGC]

At 66; Wife & I do two things; BUDGET $$$$$$$$$ for BASICS & Invest in "Meat & Potato", LONG-term "FOREVER" stuff, that we KNOW ppl will NEED. We are making some $$$$$$$$ while we sleep.

 

[against the wind]

It's good that you are looking at long range financial planning. I compliment you on starting at the age of 31.
I am 66, looking at 67 in September. I'm fortunate in that I was able to retire last year from a civil service job after 26 years. I also qualified for full Social Security and collect a small annuity from previous employment at Metlife. I will probably never be rich but I will be comfortable. I'm in the process of buying a house which will cut my monthly expenses in half.
It sounds like you are going in the right direction. You will soon discover what choices were good and what needs to be tweaked.

 

[DeepseekerADS]

You might be interested in the Survival Tips forum here:

Survival Tips

 

[Butter Hat]

Three things. Simple but not easy:

Don't conspicuously consume.

Live below your means.

Start putting money away ASAP.

Wish I'd known then what I know now.

 

[boogeyman]

Advice I got from grandpa. "NEVER spend more than you got in your pocket." "If you want it, either wait till next payday or go without." Yeah, grandpa & grandma had two credit cards for emergencies. When they passed, neither card had ever been used. The other one I try to live by is, "NEVER buy something you can make or repair." The other thing you can do is hoard your finds. Keep the stuff you know will appreciate over time, I call it my retirement fund even though the kids & grands will probably get it & throw it all out for some smart scavenger that wants to invest a little work. Do all this after you dump the cards! Sit down & look at all the interest & fees you're paying then imagine what you could do with that money. Too easy for the young'uns to get into the habit of whipping the card out for everything. Ever see someone whip the card out for a $1.00 soda? What did that soda really cost?

 

[Rebel - KGC]

Use "credit free" credit cards; wife had several, until I told her to keep only ONE. We use it for BIG "stuff", like a vacation (Outer Banks, NC, or Peaks of Otter, VA)... pay it off in a month or two. Take AM TRACK trips to DC, or places within 200 miles; We BOTH love trains, and AM TRACK 211 is adding more trips every years.

 

[releventchair]

Congrats on turning your back on smoking and drinking.
Now take that same amount of money you would have spent on it ( regardless) and bank it. Then one day reward yourself with something tangible that fits your goals . (You can see and find some real tragedy related to what you faced if you continued. Meanwhile I need to quit smoking again as a friend goes through hell from cancer.)

# 1. Live below your means.

Depending on your state ,and pre-nups ,divorce can mean starting over broke.( I have proven that a couple times.)
Save the money if moving in with your girlfriend saves you two money. Know what will happen if you split up.
Mutual accounts and financial responsibility ,or individual is up to you two.

If you buy a home / the right home... ( as many reasons not to as there are to) you might consider that you would be paying rent anyway.
My home despite fluctuating value is as you know a heck of a better investment than most cars will be.

When long-term goals can be seen ...being thrifty now is easier.
Do you need to pay full retail? Do you need the item?
I do not have to buy second hand clothing but my clothing budget is low . I'm wearing a shoe with the heel glued back on ,but have some nice toys too. Even some land. All paid for in cash after long term shopping and paying below market value's ,mostly. What YOU want comes at a cost YOU are willing to endure. Delayed gratification can be worth the effort.
For over a decade ,most breakfast's have been a slice of peanut butter toast. By choice. To allow more money to be spent elsewhere in time ,per goals.

Champagne on a beer budget , or beer on a champagne budget?

Today my little debt can be paid off if called in.
Only because of being determined to not be burdened by debt... and by saving ,even when savings were minuscule. A habit once started....

Don't be miserable ,or never spend money on a budgeted planned good time....just have something to show long term,or benefit your soul if spending beyond necessity.

What you need ,vs want ;are very different critters when shopping. With savings or investing , you need or want to be involved because no one else will for you that will care more about your interests.

 

[hvacker]

Black Rose. Your post reminded me a bit of the back-to-the-land move by some of the hippy persuasion in the 60's.
Some stayed with it. Not a bad thing actually based that everything had to be relearned. They weren't brought up on farms or knew witch end of a horse was the front. but one thing you posted "I firmly believe my generation is going to have to learn to be skilled at these sorts of things to survive as the economy gets worse. " This probably won't happen. Even though there were signs that change was coming to the USA, my generation couldn't spend enough so we invented credit cards. Spending is too intoxicating to quit. Probably the only thing to break this compulsion would be economic collapse. Ya can't spend what doesn't exist. Even in an economic collapse there are those that invent economies. People have always had trade.

 

[Rebel - KGC]

Well, Mountain ppl of the Blue Ridge Mountains have always survived, until the Feds lusted after their land; "Flat-land"... BAH HUM-BURG! They did OK during the Depressions of the 1930's; "we" now-a-days, want MORE! So... BARTER (trade), it is... I paint your house; give us a half-a-cow or hog... heh!

 

[SeabeeRon]

When my wife and I were first married, back just after the wheel was invented, we never bought anything on credit. I we couldn't pay cash, we waited until we could. Also, always had something, no matter how small saved out of my salary into a credit union and then later 401K. We can live our retirement more comfortably now because of what we did back then!

 

[Slingshot]

Wherever your at grow some of your own food.

Harvest as much food as possible from nature, fishing, hunting, and foraging wild plants.

Never throw anything away until you have repaired it at least 3 times.

I grow some of my own tobacco to help with my pipe smoking habit. Did you know that according to life insurance records that pipe smokers live 2 years longer than non-smokers on average?

I also make my own wine and beer for a small percentage of the price you pay at the store.

Save money as much as you can and I recommend a putting a percentage of your saved money into silver to preserve your wealth from inflation and dollar devaluation. Also keep your silver in the ground, much safer than a bank, and don't put all your eggs in one basket.

Metal detect as much as possible! Keep it local, and go for the gold, spend the clad or convert it to something useful.

I'm 62, retired, and living well of a small SS check, and actually am able to save money!

See my videos for actual hands on information to survive in a world where everybody wants to clean out your wallet. https://www.youtube.com/channel/UCrLxXgZtdi8POXDIu7MgTpw

Good luck!

 

[Honest Samuel]

Save your money now, so you can live good when you retired.

 

[blackrose]

Black Rose. Your post reminded me a bit of the back-to-the-land move by some of the hippy persuasion in the 60's.
Some stayed with it. Not a bad thing actually based that everything had to be relearned. They weren't brought up on farms or knew witch end of a horse was the front. but one thing you posted "I firmly believe my generation is going to have to learn to be skilled at these sorts of things to survive as the economy gets worse. " This probably won't happen. Even though there were signs that change was coming to the USA, my generation couldn't spend enough so we invented credit cards. Spending is too intoxicating to quit. Probably the only thing to break this compulsion would be economic collapse. Ya can't spend what doesn't exist. Even in an economic collapse there are those that invent economies. People have always had trade.

Thanks for the input. I realize that most probably won't adapt to be more frugal of my generation but the point that it's going to be necessary, stands.

 

[hvacker]

Thanks for the input. I realize that most probably won't adapt to be more frugal of my generation but the point that it's going to be necessary, stands.

I can understand what your saying but because of what's largely innocence for most I don't want to see suffering. Most had nothing with how the world is run. Even living frugal existence can't save many from the collateral damage of a collapse. We can't rule out some crazy with the launch codes.
Just like many ways to cook shrimp there are many ways to die.
Given that, your life plan is one many will probably wish they had taken that road less traveled.
Some will tell you that they wouldn't change a thing in their life. Not me. I already know how this life ran and I want to
go another route. For instance I wish I had met my wife when I was way younger. I was 58 when we met.

 

[Honest Samuel]

I am still waiting to meet my wife. I am 75 years old.

 

[boogeyman]

Aside from saving, growing etc. Probably one of the best things you can do for yourself being a young pup is to learn EVERYTHING you can about mechanical things, welding, wrenching on cars, carpentry, plumbing etc. These skills are highly valuable for trading, only take up a little space in your noggin. One of the saddest things I've seen is the guy in a suit with a flat tire on the side of the road jack & spare on the groundscratching his head trying to figure where his AAA card is.........

Learn everything you can from the old farts! They'll give you more useful knowledge in 20 mins. than you'll get from 10 years of reading. Better hurry! We're dying off & the knowledge is going with us.