Why I Quit Frugal Living
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- เผยแพร่เมื่อ 16 ก.ค. 2024
- I'm done saving money.. Kinda... Frugal living has pretty much always been a big part of my life it was frugal living and minimalism that really led me to reaching a level of financial freedom that let me leave my day job. However recently I've been trying to actually be less frugal and in this video i want to share why.
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There needs to be a balance. I had friends diagnosed with cancer, or with long covid and chronic fatigue, I've seen people losing their husbands way too early... So sure, we save money and we don't waste them on expensive clothes or useless stuff, but I will take that nice vacation, and I will have professional family pictures taken, because tomorrow is not guaranteed
Facts i save for emergency but i still ball out every day for my family💯💯💯🙏
This lifestyle being portrayed seems needlessly and unnecessarily harsh. There is clearly an abundance here. Save for what? Not having a hot tub that will cost $25 a week to run that you know will give you so much enjoyment but then choosing not to despite having hundreds of thousands in the bank seems like an awful way to live life. Recklessly spending obviously not. This kind of living seems like a depressing way to live life.
@@fanatical56 agreed
Live as best you can, time escapes on all , and tomorrow was never ever guaranteed
If the clothes are better quality it is worth the extra cost. Photographs are not something that needs to be paid , just my two cents
To me, being frugal doesn't mean that you don't buy anything. It means not spending money on things that don't matter to you so that you can spend money on things that do. Appreciated the message of this video.
I totally agreed with you. Frugal doesn't mean don't buy. We only buy what we need, liked food, getting haircut, visit dentist etc. we spend when we need to, not to look good comparing with others etc.
Agree!
I’m so happy you explained it like that because that just opened my eyes tremendously
I'm surprised to hear that some people here are using Mrs. Anna trading strategy! I met her 2 months ago and it was a great pleasure to work with her. Bravo to be part of his winning team.
That's pretty cool, I'm sort of new to the crypto space and was wondering if crypto day-trading is a visible option to make money. Are they consistent strategies there.?
I had an elderly relative who was so frugal he denied himself simple pleasures like the *slightly* more expensive (but still cheap) kind of fruit he preferred despite having ample financial security (no mortgage and multiple income streams including rental property income). I was glad to hear he indulged a tiny bit in the weeks before his unexpected death (maybe somehow he knew?), but it breaks my heart that his whole life was clouded by his fear of not having enough. : - ( Balance is important.
An old farming couple who lived outside my home town were known for saying things like, we don't have money for cable tv or cellphones, but when they died my grandmother learned they died with millions and hundreds of acres of land. This creator is on a similar path. He obviously doesn't need to analyze everything so closely or live like this, he either chooses to for the channel or is trapped with certain mindsets.
It is sad also to think you could be frugal and those who inherit your estate just blow the money
That's not being frugal that's being stingy. Spend money on things that matter, food, vacation, time with friends and family, experiences that add to your life
I had a similar journey, I'm still frugal on larger purchases and tend to look at reviews for most things I buy online. I was spending 2-3 hours every week mowing my lawn and would have bad allergies the day after, I hired a lawn guy and it saved me time and allowed me to be more productive the following day.
That’s awesome. We have done some similar stuff that just doesn’t make sense anymore.
Why do you want the lawn mowed? Is it a legal thing or the way it looks or something else?
Feel ya! For me it's getting a cleaning lady. I am simply very messy and it's a huge emotional lod to me to handle my household. I did put lots of effort into getting better at it and I for sure improved a lot but it's still something overwhelming for me and the worse my apprtment gets, the worse I feel, the less productive I become and the more stressed I am. It's not simply the 2 hours of cleaning that goes then into it but also the 5-6 hours of me stressing about the task.
Instead, as ai earn now good money, I spend 180.- a month to have someone come and clean and change my bedsheets, organizing some little things. And it's just the best feeling to come home after a stressful day and not even thinking about it being cleaning day and just be so happy about how it looks after she was here. And since I do earn enough I have more mental space to even pick up some extra hours of doing something that helps me financially
@@brixan... I want the lawn to look nice and be functional, it's also required by my Home Owners Association (HOA) legally.
@@JustLIkerapunzel I also have a cleaning lady. It's worth it for me, otherwise, I'd spend way too many hours during my weekend doing something I don't particularly enjoy. I'm a slow cleaner so it takes me much longer than my cleaning lady anyway! Money well spent.
I love being frugal. Growing up very poor made me appreciate what I have as an adult, especially as a single mom. It is ingrained.
God bless
I agree with you totally. I love being frugal too. I don't like wasting anything if I can possibly help it.
Same. Single Mom for 7 years and frugality is just part of life. I’ve learned to look at it as a challenge and also being a good steward of my resources.
tip for those entering the 'retirement zone' and used to being frugal .. what they don't tell you in the retirement planning workshops is how to make the mental transition from saving to spending .. all those years of watching your spending to now having to spend what you saved is a daunting change and you need to know how best to meet the challenge .. 7 years in and i'm still working on it ....
@@underleft a lot to be said for that ... in huxley's 'brave new world' you partied till you were 40 then worked till you died ..
This resonates with me, as I've been shifting away from being so frugal too. It's not as easy as it sounds
I’ve always had the philosophy of I can get more money but I can’t get more time. I am all about paying others to do things that would take me a lot of time.
Love your channel. I have been frugal all my life and I love it. I hate giving money to someone or something when I can keep it and save it or get something else. Thank you for a great channel.
Here’s the thing, you HAVE to have TWO incomes with your essential LIVING expenses (like shelter, transportation, food and internet) LESS than ONE of those incomes. Frugal is wonderful but if you are single or have a super reduced income to start OR you are disabled and can only work ONE job (some people can’t work and build a business) then it is a lot harder. It’s doable absolutely! But super hard and you have to get super creative. It’s EASIER to save money when there’s TWO incomes and either no kids or just one or two. AND everyone is physically and mentally healthy. No one talks about that and we should. All the frugality in the world won’t help a person in a $13 an hour job, period. If you can get your shelter, food, transportation and internet for cheap or free then you are on your way. But otherwise, let’s stop pretending that “just not eating out” will make you rich (sure it can help). Otherwise wonderful video!
Amen! Well said!
Some people title their videos: How I saved 20,000 in a year! It makes me laugh, because Im retired and I live on 2500 a month max.
It has been said many times that frugality is not a cure for poverty, decent wages are. If 95% of your wages are needed for the simplest of homes, food, transport to work and utilities that's how it is, loads of employers give people 1 hour less than full time to avoid paying benefits in USA ( it's not legal in much of Europe as part time employees must get same benefits pro rata)
Absolutely! We have always been frugal out of need, not choice. When you have to stand in line at the food bank, it's a very humbling experience. Life sometimes throws big curveballs that you can't anticipate, but you have to say ok what CAN I do. For me it's going back to school at almost 50 to increase our family income because as you said, with a low wage you can never save enough.
I know. I just feel sad because I see videos like this and remember how when I was in college I also had to work to pay for the rent or the bedroom I was living in, the bus, and a little of food. I walked as much as I could because I couldn't afford to play for the bus. Sometimes I only ate once a day, I grabbed bananas from a food bank, I never, really never went out like other colleagues. And still be on red numbers.
So glad you are balancing frugality with blessing yourself, your family, and others. Enjoyed your video.
Love to see this topic on your channel, Gabe!
I do value my time, but I could die tomorrow so I tend to spend because I want to enjoy my life now. However, I am starting to save more. 😊
I appreciate your growth. Celebrate you bro!
Thanks for touching on this topic!
Lol she’s going to get the gifts next time! 😍🙌🏽
Truly enjoyed this video and it has got me thinking too about frugality. Thanks Gabe.
Thank you, Gabe, for this video. I know it's been out for awhile, but I only got to see it now. I have been trying to figure out how to balance budgets and hearing you has been inspiring. Hope you get your Tesla this year!
I am having a negative net worth right now at age 28 and right in the middle of turning that around. Your content helps me very much at the moment to overcome this phase. Thanks so much for your good work, Gabe!
Your editing is amazing! Love the content
Excellent video. I love it when it's real content and you share your own experiences. I believe Gabe, the time will come when you're way beyond FIRE. But your head's in such a good place now, it just seems to me you'll always be grounded and live a great life.
Thanks for your content, it’s really good!
Amazing and inspiring super thanks for these great realistic approaches to understand the concept of money and living a happy life 😊 Always inspired after watching your video.
I also love being frugal. At our grocery it is actually less expensive to pick up groceries!! 😮 I also joined up with Mint when they were doing the buy 3 months get 3 months free!! LOVE finding ways to save money. Only pay for things that really matter. Appreciate the things I already have!! My dad was my best teacher of being frugal. 😁
Thrift stores are awesome.
Got a $12 coat. I’ve had it now about 10 years
Great coat
I brainwashed myself into only buying what i need since a couple of years ago. I did save alot of money and it made get anxiety when wanting to spend it. It took awhile for me to be ok with buying things i wanted obviously within reason but im past it now and i enjoy life a little more thankfully
Brilliant as always! Love the Time is money idea
Thanks 🙏
Awesome video! I recently discovered online grocery delivery & I love it. I save a lot & don’t buy things I don’t need. I enjoy your content & have added your podcast.
Great personal information, thanks for sharing.
Great video! Thank you 🙏🏾💯
I am overall pretty frugal and agree that it is good to be generous. We live where we get a ton of snow (Donner Summit, CA). We've had 600 inches this year, with 80 inches more expected this week. Just tipped my driveway snow plow guy $100 who has been working day and night for the last 2 months to keep us cleared, and tipped the UPS guy $40 (whom I rely on for packages because I have a home based retail business). It felt good to let them know how much I appreciate them. And my husband likes having a hot tub, which I think is super wasteful money and energy-wise that he only used about every week. It recently broke and I think he's not going to replace it, so I am happy.
This is a really cool video, seeing you make good and creative decisions. I get some good clues from you for living better on less. I think this shift of spending mindset means you are getting to a new age and stage of your life....and seeing the payoff for frugal living and smart sacrifices in the past.
Great message. I think balance and purpose are keys to good living. Frugal for the sake of being frugal - - or frugal to accomplish a goal, to prepare for the future, to be able to accomplish philanthropy, to live responsibly in this world, to avoid waste...
Great video and message.
I really enjoy your content thank you for sharing!!
Thank you! I'm no longer gunna deprive myself this month!! Lol. Love from the Philippines! Btw, I always love your curly hair!
Inspiring video
You're are speaking my lingo!
Fantastic video Gabe.
Although I can’t deny I panicked a little when I first saw the title of the video however it makes sense and was a great video as always - here’s to living life a little more often @gabe 🍻
genious, one of the best videos about frugal life and minimalism !!!!!!!!!!!!!!!!!!! 👏👏👏👏👏👏
Thanks 🙏
You are AMAZING! Love you content
I started in February once a month shopping at the food store. I make a list of ingredients I need to prepare meals for the month. Plus it saves me gas money and time. I also joined fetch it’s an app on my phone you take a picture of all your receipts they give you points when you have enough points you turn them in for gift cards. I’ve been saving my points for Amazon gift cards and then use them for Christmas presents for my kids. Thanks for the video 😊
Love these videos. I have been trying to simplify my life a bit and the tips are helpful. I agree completely that living a simpler life is NOT just being a tightwad. I'm sure my kids think I an a spendthrift because I now pay other people to do things that I CAN do, but I value my free time at a higher rate than they charge.
Ironically I am looking at how and who I can work with to buy back my time.
As I am developing my businesses I am looking to build a group of people that will accomplish tasks.
Good tips BTW and thank you. ❤
A ‘low price pay twice’ video would be interesting. I always find the initial expense of better quality is most of the time cheaper in the long run.
Awesome video. Where I live the housing market is still into the millions for just a small family home so we have had to move back home to save for the future. Small sacrifices now for something greater to come.
Great video! For me, being frugal got boring. I loved buying picture frames and enjoying family photos. Having extra blankets is great because I keep my furnace temp super low. I have always wondered if "sharing" subscriptions is kinda like theft?
Unless it is magazines, I kinda think it is - like Netflix, etc.
Great video from you Gabe!!! You've always been impacting knowledge on the younger generations and I pray God keeps blessing you... I remember months ago when I joined your channel and watched a video where you spoke about your confidant on Virginnia maywynne, a financial consultant who has been a fundamental part of your journey, I am happy I reached out to her like you suggested, her one on one sessions on Financial Planning and wealth management has really made me better. Copying her daily course of action has helped me avoid mistakes as I've recently purchased my first house few weeks ago. Thank you so much I also feel you should make more videos like that, it will help people know the right person to use to get a better one on one experience when the youtube videos are not enough to avoid getting scammed, make wrong moves and make better yields.
Wow!! Congrats🎉 to you, being a house owner really sounds amazing and inspirational too. I'm working towards mine and I strongly wish myself the same🤲.
@Lopez mckennie Okay, give me a few minutes to drop her details below.
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I been following for a while and this has to be my favorite video you ever made.
Thank you for talking about making realistic choices that match needs. Every family is different, it's not about being frugal and depriving, but it is a mindset like you said and that is something that has to be practiced continuously. If someone is working hard on rewiring their brain for better choices after a lifetime of bad decisions, once they get to good financial spot, it is so easy to fall back into bad habits. You have to keep practicing. It's just like sobriety.
Yeah this video was banger.
Big facts
I particularly agree with your point about valuing one's own time to the point of actually hiring services/help for things that free you up to do what you do best. I've long since observed a genuine truth in life -- you pay with money or you pay with time. For much of my work life, time was a very precious commodity so we'd pay to, for example, have a deck put on; I can sink footers, run a saw and swing a hammer but even a straight forward project would take me two years to do -- two years of not enjoying that deck nor much else!
I have died to myself and want nothing. My problem is I like to give. It makes me happy and I give too much many times.
Great Video!
Beautiful Family . Beautiful Home!
I heard you say "I have very few skills". But I have seen you building houses and working with wood, and being crafty and handy. Don't say that about yourself. I can see you have more merit than you give credit yourself for. Have a nice day, man! 😁 Love your videos!
Great video! You and your family will always do well because of your mindset.
oh man, that's what we've been triyng to do too! We were SO SO Frugal as well, and now it's like...we CAN say yes, saying yes is still hard haha
Many times I can buy things on clearance and often with coupons cheaper than the thrift store!
My Wedding was at my husband’s home. Dress was borrowed from an older woman who kept hers for years. Ring 10.00 at a pawn shop and a notary of the public was dirt cheap.
You have helped me tremendously in the last few months. From the book reviews to the ideas on saving money. I now live with a more concentrated focus on financial affairs. Thanks Brother..! Great work..!!!
That’s awesome to hear. Keep it up!
Hey Gabe! Would you be interested in sharing your GF pizza crust recipe? I have Celiacs and am always looking out for a new pizza crust. Like you, we have 97% of our meals at home so it would be nice to try a new crust. Thanks! Love your channel!
Good for you, both. Living experiences are so important. You never know what the future holds. Years ago, my sisters and I started sister trips. No spouse or kids allowed. Epic travel trips domestic/international via planes, trains, cruises, etc. Little did we know one of us would get cancer years down the road and pass. We have all those lovely experiences that we cherish each day. Be frugal but spend wisely/thoughtful. Thanks for sharing.
Sounds like living in such misery, has lead to a point where you feel guilty buying a drink and you need people's approval to justify spending $10.
Frugality needs balance otherwise you end up in the headlines "They found millions in cash stuffed in the mattress of a poor old person who died of starvation".
Balance is a good thing. You can enjoy yourself just don't put yourself in a place you have go do some extreme digging to get out of. Love your channel by the way 😉
Oh man. I would love to have a hot tub. That would be hard to let go, especially after living through COVID. Too fun to have that in the backyard.
There's a difference between being frugal and being cheap or a miser
“Poverty mindset’ is not contributing to you life…
I love this dude 😎
I always enjoy your videos and your different view points when it comes to things.
Thanks 🙏
Love the video man and hmmm yea I really need to learn how to cut my own hair.
I've been trying to live in a more frugal way, but the two things I won't skimp on are things for my pets and organic food. But on other things I'm willing to save money. Everyone chooses what's important to them.
those are good priorities tho 🤷♀️ vet bills are hellish, and good food will keep you healthier and - barring things you cant do anything about- will give you a longer life.
I agree with you it’s a hard balance to go from frugal living to giving. I just tell myself exactly what you did, it’s a blessing to give. I just make sure our home is blessed and then can bless others. Loved the content and can totally relate! Oh my word, totally loving that pizza oven! Meredith got ya a great gift! 🙌
great video, also be careful because if you'r frugal and start spending money you could start being addicted to spending and ending up pretty bad, put limits (20% of X income) put goals into it, but also keep being frugal, so you won't get addicted on spending.
I love Mint Mobile! It truely is NO different than the big box cell carriers. $1,200 a year to $240, yesssss please.
I grew up poor but never knew food pantries.
There is frugal and there is self debting. Frugal is buying underwear at discount stores, self debting is getting another year out of wearing them. Eating frugal is frugal, skipping meals to save a dime is self debting. If it is something you truly need, want and are willing to give up somewhere else it is adding to life. If it really would give you quality of life or an essential but you deny it it is self debting.
Interesting concept.
I just subscribed to your channel to help you get the MX. But please don’t underestimate that car, it has many features that will give you peace of mind, especially when somebody scratching your car when you park and charge it, but your Sentry records everything and the repair costs being paid by the other party. Also, if you get it, please make the Falcon doors dancing, it’s just so much fun 😂
I get it, Gabe. Sometimes we go too far with frugality. I have been guilty of that! However, the older I get, the less I need or want. (Pushing 75 big ones) I thoroughly appreciate what you and your wife have accomplished.....this early in your life. I find making things work, being creative in our lifestyles and enjoying each day.....cannot be measured in dollars. Keep up the good work.
what a cool video..........i love it
Yeah, live a little, you deserve it!
This video was relaxing. It literally put me to sleep.
Frugality and minimalism is a sliding scale. It isn't one-size-fits-all.
Your videos are amazing! Of late, I have been able to track my spending and have saved my money lately. Cooking Dinner every day has also helped me out financially and have been grocery shopping once a week every Friday.
👍👏
Yes the pursuit! The chase, that's where it's at.
HI, Gabe. I have been watching some of your TH-cam-content lately and got to the point where your goal is a Tesla. Go for it! Juste subscribed to help you. There are other nice electric cars out there, but I love your idea tu be frugal and have some objectives. Il work for MOVE public charging here in Switzerland. Thank you for sharing your thoughts and being authentic. 😊
Share your sourdough pizza crust recipe!! I’m gluten free and I miss a good pizza crust! I’m just starting to learn how to make sourdough! Have any starter you want to send my way??
I’ve always been frugal, which to me means spending my money wisely and not being wasteful. I simply don’t enjoy luxuries. I’m a simple man and if given the choice between living in a cozy old studio cottage or a luxurious mansion, I’d choose the cottage. That’s why when I moved to the Philippines, I was able to live on very little. A lot of guys move here and claim they spend thousands here every month. That’s absurd to me. I’ve lived here on as little as $200 a month. I only spend more now because I like using my extra savings to hire someone who needs a job. Because pay is so low here, I’m able to give someone a job, and that makes me happy. Happier than living in needless luxury. I treat myself to nice things, it’s just not constant. It’s when one is constantly spending money on needless purchases or carelessly spending more than necessary for things that they’re no longer living frugally. Like driving three new luxury cars, renting the most expensive apartment, and going to Whole Foods everyday and ordering premade meals. That’s definitely not frugal. It’s borderline insanity. 😂
The reason I normally spend more on items is:
1: Enjoyment. I like having nicer stuff.
2: Lifespan. Usually better stuff lasts longer, and has a lower cost per use as you say.
3: Resale value. This is worth considering. If you can use something for 3 years, and sell it for 40% of what you paid your cost per use drops further.
4: Hand me downs. If I decide not to sell something, at least I can give it away to a friend, family member, or donate it instead of throwing it out.
Exactly
I’m convinced mint mobile is the flagship for minimalists..I’ve been on it since 2018
I guess my problem after seven decades on this planet, is that I realize that by looking at everything in life as a monetary transaction has the potential for seriously damaging relationships. Just sayin’.
Yes 👏🏽👏🏽👏🏽👏🏽 I’m so glad you said this. All this hyper fixation on finance means nothing when you’re in the middle of precious moments with the ones you love
I agree. Alot of these frugal people take from people who could use things who are struggling. You only have one life. My friend knows a guy who had no family he was the cheapest man like super frugal he had no relatives he never enjoyed anything. He died where did his money all go. It went back to the state. He wasted his life living as if he was poor . He died and didn't have any fun. I don't want to be like that not my thing
I disagree. Money has nothing to do with meaningful relationships. Poor people and frugal people have just as much access to love as do those who waste their money.
@@katherinekier THIS^^^ is why I hate phones with cameras invading sweet times together with family & friends. It is over done, imho.🤷🏽♂
I really enjoy your content....I wish I had your mindset when I was your age!!!! Lol....and....your daughter is adorable!!!!!!!!!!!!
So excited to get motivated on Monday’s!
Let’s gooo
Good stuff! One thing we spent money on when our two kids were growing up (in the 2000s) was Good Shoes. My husband’s family was very frugal about shoes and he grew up wearing cheap and/or secondhand shoes for far too long, and he developed problems with his toes and feet that are with him for life. He insisted that I buy our kids new, good quality shoes - not a lot of them, but what they genuinely needed - as they grew rapidly. They are now adults with healthy, strong feet and toes. Worth it!
I think all minimalist face that struggle . It’s so hard for me to spend but I have to remember to live.
God bless you always❤
I really love your videos, you always give great insights. I am striving to be more frugal and i am slowly getting there. A big point of improvement i am working on is to cut down our familys grocery bill, i find the videos on your diet and meal ideas very helpful. I would highly appreciate more frugal meal inspirations. All the best to you and your family from france❤
Frugality only makes sense when you don't have enough. If you have enough, you've earned the right to not be frugal. Also, it can get the point where you're saving pennies and in the process losing out on dollars.
It’s greed. Don’t let them fool you.
Frugal people who have money, that is
I love love love this video Gabe! There is the balance that we need!
I love the production value of your videos in addition to the content and your delivery style. I have those same frugal struggles with not being stingy with myself and others. Thanks for the video!
I had a friend who used to say. It's easy to Spend, hard to o Save. I said you should try living by, Need vs want! Eventually he saved a deposit and bought an Apartment! He always thanked me for giving him that pep talk!!
I get the ads of Gabe's selling Huel as watching this video. II thought I was watching the video.
This is a conundrum for many of us - we want to be more mindful with our money but it is too easy to become cheap. I always try to look for cheaper options but sometimes I have to ask myself if I actually like the thing because it’s not he cheapest one or should I buy the more expensive thing which is what I really like. I say it’s about balance - if you always buy cheap you will be left unsatisfied but you should always ask yourself if you really need it in the first place
well done video