Why Everyone Should Be Frugal | The Truth About Frugality
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Everyone should be frugal. I know that's a blanket statement which I usually try to avoid using because we're all different and so are our situations. However, I think frugality has some universal benefits that are worth considering. Today we're going to be talking about those benefits.
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#Frugal #Frugality #FrugalLiving
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One who is cheap is concerned about cost. One who is frugal is concerned about value. I always like to say "Cost is arbitrary and value is personal" as a personal mantra when making any financial decision because it forces me to put my own price tag based on my value and justify whether or is worth the difference.
In times like these, frugal people are in a way better position than most other people
It certainly can help give us an edge :)
I agree, but the economy would crash if everyone did this.
Frugality + luck. Both play a factor but I've been semi-frugal for 10 years since highschool and do feel like I'm in a good spot compared to many others.
@@matthewvandeventer3632 This is a very important point!
Matthew Vandeventer. But our planet would be better off!
I have been frugal all my life and what does it gets me, nothing but money to show for it.
Another benefit of frugality: When you do go on a shopping spree, you enjoy it more. When one always spends at the budgetary limit, the excitement wears off. But if most of the time you are paying a lot of attention to cost and asking yourself "can I do without that?" then the times when you do say, "screw it, I am buying what I want!" feel a lot better.
Quarantine has been the ultimate test of frugality. Let’s carry this on
Not carrying any debt is the best way to be frugal! ... Don't waste your money in payments and interest... And save, save SAVE!
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Essien-ij However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@Christian-3e Oh please I’d love that. Thanks!
@@Essien-ij Clementina Abate Russo is her name
Lookup with her name on the webpage.
I enjoy frugality. My grandparents grew up during the Spanish Flu, the Great Depression, and my great uncles served in WWII. They saved and always spoke of the hard times and how lucky we were that we did not have to live through them as they did. We appreciated outdoor picnics, good weather, and hanging out together. Good times - that did not cost a lot - accompanied by real-life stories about the importance of hard work and saving.
I am 72, retired, have modest income and am debt free. I can survive on 1/3rd of my net retirement income. In this time of financial uncertainty that we're all facing, I'm feeling relatively stress-free, even with the thought that SS and pension benefits could possibly get cut in the future. I can be quite happy with the necessities.
I thoroughly enjoyed this video and
the abundance of reasoned and thoughtful comments! Kudos one and all.
The benefits you speak of remind me of what minimalism aims for as well because like frugality, it is about being intentional with your things and spending and this created a happier life.
Olivia, there's definitely a commonality between the two. Learning to be more intentional (in our personal finances and beyond) is probably one of the most underrated skills of all!
The other two major sources of stress are health and people. Fortunately I’ve been able to work from home throughout this quarantine, so I haven’t had financial stress, and the quarantine has been amazing at eliminating stress from people’s feelings, beliefs, and desire to control people which is played out through politics, law, workplace rules/norms, and various other social rules and norms that come from the imposition of people’s feelings and beliefs, and it’s been incredibly liberating and de-stressing not having that, or having a minimal amount of it, over the past month. Anyway, this was a great video about frugality. It made me realize that I’m pretty frugal.
Frugality is an income all it’s own
yesss
I Frugality comes naturally to someone like me because I am use to seeing waste in the USA... I was born in the Caribbean and Caribbean people are much more resourceful people.... I have seen people dump WORKING laptops in a bin and it was only a 2 years old DELL midrange model... it actually makes me physical sick to see this because of the recourses it took just to make the product.
Also after someone like me “has enough stuff,” it’s just not important to get more and more... that’s why I like quality used things because they tend to be a better value long term.
I have some friends with frugal wives, never have they ever considered getting a divorce!
hahahahaha
The true unicorns
Frugality is good for the soul I believe. To say "no" to yourself now and then is healthy both for body and soul.
,l buy my freedom with my frugality
Love the quote!
wowwwwwww this is so true ,,,thankyou
Penny Nickels. Yes, you do! I’m debt free. Being debt free gives me the freedom to help family members who are still struggling; and allows me to contribute to my local food banks on a regular basis!
I am 72, retired, have modest income and am debt free. I can survive on 1/3rd of my net retirement income. In this time of financial uncertainty that we're all facing, I'm feeling relatively stress-free, even with the thought that SS and pension benefits could possibly get cut in the future. I can be quite happy with the necessities.
I thoroughly enjoyed this video and
the abundance of reasoned and thoughtful comments! Kudos one and all.
Our tired old planet needs us to be far more frugal and way less wasteful. It’s an environmental issue as much as anything.
FlowerGrower Smith yes! More people need to discover joy in simple life styles!
FlowerGrower Smith. I agree!
Disagree, it is innovation that is needed. Even if all humans lived really frugal there would still be environmental impacts...
litcguitarist apples & oranges, both are worthy.
Absolutely! I had a female relative start screaming at me that I don't understand about the environment, global warming and how I don't have a clue...she's completely nuts. I smiled and told her that she's the one that doesn't understand and I pointed out that not only is her home 3 times the size of ours but so is their vacation home, they drive more than twice as many miles per year as we do and they've flown all over the world for nothing more than their own selfish desire to travel. That shut her up rather quickly ;)
Started my frugal journey a bit too late. I'm in my late 30s now and saving aggressively. I plan to retire before 50
Never too late.
Never retire. Always have a reason to get up, get out, and be involved. People are living longer and longer. It always blew my mind that anyone would WANT to be done at 50. Do something that you love, and you won’t WANT to retire.
I Believe Financial Independence is simply adding a source of income-from-assets that covers your basic expenses. Don’t stop working! Don’t stop contributing :)
Yup me too. Thumbs up
Kicik
It's never too late.
The independence of frugality. Make do with what you have. Plan. efficiency is the game. Pay as you go. Waste not, want not.
I retired at 45 and completely mortage and debt free - being frugal is smart ..
You can say that again!
That's over the top awesome. I was able to retire at 54, which is young but 45? Wow! Good for you!
Up until a few years ago I was living paycheck to paycheck, and was working a full-time job and a part-time job, all due to debt and poor financial habits. But then I began re-evaluating everything, and I made the decision to cash in some company stocks so I could pay off all my debt. At the same time I began cutting all unnecessary costs, getting rid of unnecessary things (selling whatever I could), and saving a lot more every month. I also moved into a smaller apartment. The amount of stress I got rid of was worth it! And I feel better overall about life. And I'm able to help more people and contribute to causes that I believe in, while still saving money every month. And now I only work the one full-time job, which I really enjoy.
The one thing I still could work on is that I should cook more of my own meals instead of eating out so much. But I enjoy the social aspect of it, and it gets me out of my apartment more often. So maybe it's a worthy trade off; the jury is still out on that one.
Def cook more its healthier and u save alot more$$
I enjoy eating out as well. As long as you budget it, it's okay. We have a date night every week within budget.
For years all my clothing and shoes and some household items have been bought at thrift stores and garage sales I shop my local grocery store for markdown meat other food items and sometimes I find some household items my trade off is this allows me to dine out 2 to 3 times a week using senior discounts or coupons with friends in nice weather we potluck at the park and I am still able to save money monthly.
@@debbieframpton3857 Sounds like you're smart about it all. That's good to hear.
@@jimmyboy131 ,
Believe me I've made mistakes but I try and I think that's all you can do.
Sounds like you're doing very well yourself
Learned a lot from this channel. I used to not handle my money very well because of wants. Now, I'm mindful of my spending and created a budget for early retirement. I'm 30 and I'm planning to retire at 40, doing delayed gratification, being frugal and cutting back unnecesary expenses. Your fan from the Philippines 🇵🇭
It's been two years, are you still on your way to early retirement?
What do you want? Your Money or your time. Your Versace or your Vacation? Your time or your toys?
Love the book Your Money or Your Life.
Casey Burns Investing Wouldn’t want Versace or vacation, but I get your point ;)
@ Casey Burns Investing
I want my Vacation lol...
I feel that the time in my life is way more important than money. It's why I took a fuck it all pill, sold my stuff, converted a van to live and travel in, and hit the road. Best decision I've ever made. I'm not stressed about anything anymore (especially during this epidimic), I am able to live on 40 percent of what I make , and save the other 60 percent. I actually was able to create an emergency fund! Wow talk about a mental weight lifted! Thank you for the book recommendation, gonna go download on the kindle app. Can I make a fun book suggestion for you? It's called Radical Frugality. It's an interesting read.
@Casey Burns Investing...I see two books with the same title but different authors. Is it the one by Vicki Robin or Matthew Moore?
It should be taught starting in middle school and then more advanced classes in high school.
@@ketarita1911 I read it. It is Mathew Moore I believe.
I’m very glad you mentioned using frugality to give money away. Donating money to charities, or friends in need, or to the homeless, soup kitchens, wherever you see a need, is so important. And doing it silently is the best way. Do not do it to boost your standing in society, or among your friends. There is a verse in the Bible that says “Do not let the left hand know what the right hand is doing” (Matthew 6:3).
I was given "your money or your life" at age 23 nearly thirty years ago...life changing.
A lot of Americans who lived through the Great Depression were tight with their money for the rest of their lives. I know my father was like that.
The Great Depression likely effected American in lasting ways. My Mom learned to be frugal from her father who had a difficult time during the Great Depression, and I picked up on some things from her. Big events creates waves through time.
My mother-in-law was a great depression child. She felt very generous not charging her kids rent from age 14yrs and on. She considered contributing $200 toward a 4 yr college degree as paying for her kids college. So proud and bragged to people she paid for her 3 kids college degrees. Yeah, no! The girls worked full time and went to school full time. One graduated in 3 yrs while working full time.
Live within your means. Simple.
Below your means, even better
@@torillondoner8982 Those are equivalent expressions.
I like to sleep comfortably knowing that unexpected situations can be handled. I have moved and made new friends. I began to see that each person with similar incomes were widely in debt. I see the stress when crises happen and they have no room to move ( no credit even). They still continue to spend more than they take in.
I feel kind of sad for them. It is an insecure way to live. I am able to be more generous to the people that I love.
My needs have never been great. Seeing all those people at food banks is so very sad. It never seems to be how much you make but rather how you decide to live.
I help at a church food pantry some of the seniors we see in there don't really need the food they come in to sit around and visit but yes it is a shame that some people do live paycheck-to-paycheck because they do not know how to manage their money
I am so frugal I was able to spend ten years without an income and lived a middle class life. It really does work. The less you consume, the less you have to work.
You are correct. I had to move into brother's home. I have been talking to him about how we can help others. He agrees. Thank You. Have a Great Thanksgiving. Hugs
Being frugal also provides your brain with regular opportunities for taking on challenges to be creative, problem solve, etc. For me, it also gives me a sense of pride and joy when I solve those problems or come up with new ideas. I also often see that many (maybe even most) ways of being frugal can be highly beneficial to our planet/environment.
All excellent points! Thanks for sharing :)
This is a great way to explain frugality and made me realize that I’m a pretty frugal person as my approach to money is to get maximum enjoyment out of each dollar that I spend, and to spend as little as possible on routine things, just above a satisfaction threshold, so that I have more money to spend on things that I really enjoy. I didn’t think about being frugal, but I had to buy a car in 2018, and it just made sense to maximize my level of enjoyment for the least amount of money that would still leave me satisfied. I also knew going in that I would upgrade the sound system in my car, because that’s something that greatly extends the time that I receive satisfaction for me personally, as it makes it enjoyable to drive throughout the life of the car.
I know many doctors, scientists and academics. When other kids were goofing off, they were studying and working. They give of themselves and they donate
a lot of money to charity. None are flashy with money. Tina
Started this a few years ago and I couldnt put it better than your video.
I often try to explain to my kids how frugality can help us have more fun. One example is that we have a great Zoo very nearby. In addition to the things included in the ticket price they have lots of VERY expensive extras: souvenirs, food and drink, rides, face paint, etc... I tell my kids that if we bought all the extras we probably could only make our money last for one trip to the Zoo a year. But if we bring our own food and drink and stick mostly to free experiences, we can get our season pass and come back over and over. Sometimes we'll even spend $6 on the way home for ice cream cones at McDonald's, Icees at the gas station, or dipping dots from the freezer section at the store, so we are still getting the same treat that would have cost $30+ in the Zoo. Also when I am trying to teach them not to waste or break things at home I explain that it is really boring having to spend money to replace or fix things, and then that money isn't available for fun things like vacations and other cool experiences.
All great lessons to teach them :)
It's called being "ECONOMICAL" -The best use of limited resources.
Video nailed it, the situation we all our facing now is a wake up call for many of us. People that are and have been frugal are doing better then people that have no savings and have high expenses. The best part of life is when you feel you are in control of yourself and your money. Less stress , less wanting and less needing. More living, more giving and more spending time with the people we love. This can be hard lesson to learn , but so worth it. Wishing everyone the best !
I am afraid frugality is personality trait - not something that's easily malleable. I love being frugal - preferring to get broken stuff for cheap/nearly free and get tremendous joy from repairing/fixing it. Joy is many folds greater than buying something expensive and having lackluster experience afterwards.
I disagree. I think it's true to an extent, but people can change. I was never a particularly frugal person until about a year ago, and now I'm quite frugal, and love it. I've roughly halved the amount of money I spend each month, and I did it on purpose, not because it was my innate tendency
Some people enjoy buying expensive things and have great experiences with them though. I for example don't like buying the majority of things second hand. The only things I've ever bought second hand were textbooks for school and my first car. My current car is new (and I plan on keeping it until it just won't go anymore). I dont get any joy at all from buying something that I know someone else has had because I dont like the imperfections that come with something being used. I get tremendous joy from unboxing things and knowing that its untouched, new, fresh, and clean. Something given to me by a family member or friend is different, specifically purchasing something from a stranger is what I mean.
I dont want to have to fix or touch up anything. I dont want to buy and search for parts, I dont want to pray that it works after I fix it up. I want a warranty and a time period to test it out, take it back, and exchange it for another one if need be. But that doesnt mean that I'm not frugal, I absolutely ake pride and joy in the things that I buy. I'm more modest with certain categories such as clothes, groceries (I dont buy organic and make brand most times), entertainment, housing and etc. And I'm not as modest with technology, appliances, furniture, and eating out at restaurants. Walking in my home knowing I have new, nice things makes me feel so good and comfortable. Every knick, scratch, and ding is from me. As silly as it may seem to some people, I'd rather have it that way. I'm only 24, so this may just be a phase in my life, but I've never had to have anything used. My mom always made sure we had new clothes, new toys and etc. And it's all because she grew up in poor and never had anything new because they didnt have a choice. I have a choice, and second, third, and forth hand just isn't for me. Unless I get a second car.
I couldn't agree more with you, Aaron! There are definitely some people who are more prone to frugal tendencies naturally, but it doesn't mean that those who aren't can't change over time and become more frugal :)
Very well said Shay! We're all different and have different priorities for various items. I totally get where you're coming from with the joys of unboxing things and knowing that every knick, scratch or ding on something you own is from you. Those sort of assurances can be very valuable to some people. And some people are great tinkerers/mechanics (I am not) and enjoy the process of fixing, remaking, or even reshaping/re-purposing things. There's a lot of pride in that (not to mention the ability to customize things to suit your specific tastes/purposes comes with its own benefits as well! I do this with some things that I have a decent handle on how to fix, but not for everything). Others (like me with most items) are not great tinkerers and thoroughly despise having to spend hours trying to fix something that should just work from the start because they got it used or otherwise on the cheap. For that person, this is not a very frugal use of money. It is a cheap use of money. For the tinkerer, this is an incredibly frugal way to use the money.
Obviously, we all need to make sure that we're well on track to meet our goals in all the areas of our financial lives (perhaps some non-tinkerers may need to deal with some short-term frustrations to make sure that we're able to pay our bills and get ourselves set up for our future), but as long as we're not neglecting others areas of our financial lives it really does come down to a "to each his own" situation.
Thanks for the comment!
Explore your inner frugal self
This just gave me freedom, because you explained frugality in the best way since it's subjective... So my mission is to spend on my vision and experiences I won't regret and be woke to not get lost on vanity of brands. Only spend on what you enjoy and will never regret on a long run🔥🔥🔥
Fabulous video!
I would have to agree on all points.
With all that it going on in the world today it is my family’s frugal lifestyle that is helping so we are not super stressed out everyday!
Be well!
Dana, well said! Frugality is beneficial even in the best of times, but when times are tough its value shines through all the more. Be well!
Great video. Agree completely with the impact with frugal lifestyle. I didn’t agree in my 20s but I didn’t know how to properly use and manage money then. I wish this channel existed back then! 🤗
Glad you enjoyed it! And as they say better late than never :) Thanks for sharing.
Maybe this pandemic will have people reconsider if it’s really worth spending a quarter to a half of their take home pay on leading a 3-series or C-class.
I'd say it's a distinct possibility for some. Or, at least, that there will be some reconsidering many of their major expenses (car-related and otherwise) ;) It's a great way to turn this tragedy into an opportunity to come out the other side stronger and wiser than before.
Nope. People spent their corona checks almost immediately on stupid things.
Thanks for making this video!
Glad it was helpful!
I don't know if frugal is the right term. It's more of living within your means which most people don't
That's what frugality means except maybe living BELOW your means so you have 10-15 -20% to save and invest.
In mid 2016 I Ieft Australia as I believed I'd be happier elsewhere. I moved to south east asia and have not worked a day since due to being frugal and investing what i had already saved. I live basically but i enjoy it.
I'm thankful for what I have. Compared to some I don't have much. Compared to others I have a lot. I'm a normal guy on a moderate salary, single. I used to be married. We stacked cash without trying. After divorce it got much more difficult to save. In April of 2019 I started on the Dave Ramsey baby steps. I paid off $24k in debt from savings (truck + student loans). I put together a written budget. From April 2019 through March of this year, I was able to save about $33,000 on a 90k gross salary. This won't be sustainable because our economy is melting, but my point is that if I can do it, so can you. debt makes me cringe. save as much money as you can while you can during your prime working years so that you can truly enjoy it later. The most valuable thing money can buy is freedom. the borrower is slave to the lender.
"Debt makes me cringe". Great way to look at it.
If you live like you’re in a bind you probably won’t ever be in one
Because my partner and I live frugally, we were able to help our son get an education, build his career, and buy a house. If you think all the benefits went to him, you've never been a parent. We sleep easier knowing that he, like us, lives well (as well as well within his means) and is healthy and comfortable and frugal.
Produce fewer consumer goods and more capital goods, that's how we speed up progress as a society.
You're amazing btw. Thank you for sharing your knowledge ❤️🤗
Happy to help!
Your numbers on “Bob” blew me away, it’s what and where I am right now at. 55. 26yrs ago I closed my self employment, and business with a heavy heart. I was hired on as a construction super, and started saving very modestly starting a 401k 23 yrs ago. Through my career any time my position changed or I received a raise, I continued to raise my percentage to my retirement, for several yrs saving 15 to 20percent towards retirement. I am now at the 1.2 M number in retirement. This all took place while raising a family of 3 children on one income paycheck. My wife was a wonderful homemaker, selling food goods, and seamstress piece work from home when time allowed. Our home is beautiful, 2800 sq ft. We have always driven used good cars, most entertaining is at a our house with friends and family, more modest vacations. Did we have wants, yes but focused on needs first. We never felt deprived of anything, we have felt blessed. Great family and friends can’t be bought by material things. At 55 I am looking to retire soon, or semi retire, it comes down to health insurance coverage til we would be eligible for medicare.may look for a part time job just to cover insurance. You can do this too.
I agree on the universal benefits of frugality. It’s something I have certainly been working on myself. I would say that my upbringing has made this a lot easier for me, however.
Some of us certainly do have an easier time adopting frugal habits than others, but it still takes some effort and practice to truly master. Glad to hear that you've found some success at it already and are continuing to improve!
Next Level Life most definitely! It takes persistence, strong will, and great reminders like your video!
Although I totally agree, there are people that take this to the extreme. I mean let me ask you a hypotetical question: what's the point of having billions in the bank, if you die with just numbers in the bank and nothing else? All your life you live with just this: numbers in the bank...water and some cheap food...
Live frugally but make your life enjoyable too...money for the sake of money and nothing else is another losing game...
Your Money Or Your Life is one of the top 20 books I've read in my life that made it significantly better. Would recommend to anyone. A great, easy read that helps you take a look at your own priorities (financial and otherwise!), and work toward getting them, through the lens of many interesting stories shared about people rediscovering their own. (no I didn't write it nor do I know either of the authors - heh) Favorite quote: "I buy my freedom with my frugality"
Any other recommendations for life changing books? I agree with you. I read this book every year!
This is a very good video. With some great ideas about frugality. I like the definition you set from the beginning. Benjamin Franklin had a somewhat different view of frugality in his 13 virtues. Frugality: Make no expense but to do good to others or yourself...i.e. waste nothing. I like this take on frugality.
Glad you enjoyed it! And I hadn't heard about Franklin's view of frugality. Thanks for sharing!
In 7 to 9 yrs Social Security will b cut back 25% so im getting myself in the habit of living on 25% less. I get $963 so I'm trying to live on bout $735 mo. N I get 99 food stamps so I set aside 24 for store om sales loss leaders etc. The $200 I put towards my highest % debts then once they're eliminated in December I'll apply it to the principal of my mortgage.
Awesome video advice.👍🏻
Glad it was helpful!
Love your videos, always offer quality informational content. How do you animate your videos?
I use a piece of software called VideoScribe. It's one of the many whiteboard animation programs out there. Thanks for the support!
Using the words 'apartment' vs. 'home' is a bit of a misnomer - there is nothing necessarily unhomely about living in an apartment and in many big cities it's the only realistic option!
Really? Every apartment I ever lived in felt like a cheap hotel room on a television series, not homey at all.
As a non American I couldn't stop laughing at the numbers, 900 sqft small, 2,000 sqft hopefully adequate, $1,500,000 retirement fund needed but may get by on $1,250,000 if frugal, lol.
I read this book shortly after my divorce (after 25 years of marriage.) It changed my life. I realize that in my "previous life"I had spent something like 27,000 hours at the hairdresser getting my hair cut, frosted and styled. Once I realize that I also realized I no longer want to spend my TIME that way I wanted to be out of doors instead. For me, it wasn't' about the money as much as it was about the time....Great book....Time for a paradigm change!
When he mentioned about not comparing your life to others hit so deep but so true. You should not care what others earn unless it affects you in some way. They earned it like you earn from your hard work. Great vid.
Beautifully said! 🙏Totally agree! Thank you for sharing your insights!
No problem! I'm glad you enjoyed it :)
Thanks so much for the insight.
Thank you
LESS IS BETTER....live within your means.... i live pretty cheap. Own house, vehicle and no debt.... selling my home and moving into a tiny cabin in the mountains of NC..... i will have quite the nest egg with the profits on the sell of my home. Have 2 job offers lined up when i get down south.
I buy all my clothes from thrift shops... grow gardens for food. I dont spend money at beauty shops, tanning beds ... I live very
cheap. I dont use cable or satellite..... enjoy working in my yard gardens , flowerbeds, home DIY projects keep me busy .... feel no need to travel (did that all my childhood n young adult life) want to be OFF GRID as much as possible...... i have such a nice life ...... i am so grateful to GOD
Living the way i do takes DISCIPLINE ..... have n make goals on paying off debt and STAYING that way. Good luck to you all who are striving to live this way. It IS achievable
New sub here 👊
There was a study that showed. Shopping for something and knowing you can afford it, is more satisfying than buying it. Once you buy something now your on to looking at something else. Thats why you see people with hundreds of clothing items, always shopping but they only wear the same 5-10 outfits.
Yep. I've gotten to the point where I can walk through most stores knowing I could buy whatever I want. I used to want and couldn't afford. Now I can afford and don't want.
Great 👍 video! Huge item to address, presented in a superb way! Thank you
Exceptionally good advice.
On that note, the note about the resentment were doctors to harm our ability to provide for ourselves (especially now in the Covid lockdown) is especially applicable right now.
It's really incredible!
That's all I have to say.
That said great content
Read "Your Money or Your Life" tears ago and It really helped put money into perspective.
Frugality needs to be mixed with good judgement for success. Buying the cheapest screwdriver isn't frugal.
So true! There's a big difference between being frugal and being cheap. One has a long-term view and focuses on total costs, the other is merely attempting to spend as little money as possible in the here and now regardless of how quality/time factors into overall expenses. Thanks for the comment :)
OPTIMAL (without or little debt) is key word!!!
The way things are as of now...I guess it will lead to this scenario...and for good.
Great video. I still have your money or your life book
This video makes perfect sense personally me for date night with hubby twice a month is a must. Because that's only time i get to wear something nice not being home with four kids in a three bedroom apartment in Brooklyn not to mention a very demanding job as a nurse i couldn't see us not having date night. Although now we don't go no where we do miss our date night together.
You should move upstate ny. I am in WNY area, a small village our money goes pretty far here. People are kind and generous yet in small communities up here.
My friends have the latest iPhones and still live at home with their parents! I have a iPhone 6s but own £30,000 in Apple shares and am in the process of buying my fourth house. 🤷🏻♂️
About the phone, it's a bit complicated. You need to have a gadget which supports all kinds of apps, is more or less reliable (and has a good camera for Zoom!).
I live in an Eastern European country, and the cheap phones (worth 100-150 dollars) don't offer that. They crash all the time, run out of memory etc.
A decent phone starts at about 300 dollars here. So my Huawei P30 lite is totally OK for me.
But yes, a lot of girls here just insist on having the latest smartphone. But that's more of a "commitment" thing than a financial thing.
Wow..! I wonder who's smarter?...lol.
@@darlenepaul2934 Clearly the friends who live at home are smarter. Now I do have a bias because I live somewhere with a high cost of housing. Personally I think Android phones offer all the same functionality at a much lower price, but even the high cost of an iPhone is very small compared to the cost of housing. If you are lucky enough to have family that you get along with & who are happy to live with you, then you can definitely afford to buy a shiny toy for yourself & still be ahead in the "saving money" game.
In UK English we pronounce it froogil ty not Fru gal i ty. Sounds funny 2 my ears but luv the concept. Have been frugal all my life now in my 70s can't change. 😂😂🙏🙏
Yeah it’s looking at things through margin
I think he makes a very good point about the size of the house: I wish I noticed it before I made some decision about my real estate.
It’s good to question whether something has a high or low worth before purchasing it. Good stuff!
Cheap is different than being frugal. Great video!
Thanks!
Everyone will Be Frugal after that pandemic
Cast ll....Not for all....Many took their stimilus check and spent it on stupid things....a lot of people will never learn!
Very good! Do you want spanish subtitles? Best regards from Argentina!
hmmmm. That 12 minute mark hits hard during the CV.....
It’s a good thought...but it seems to be far short of a well-rounded ideal. Rather than ‘Joy’ the words “Truth-Compassion-Forbearance” became one of the key semblances. I like that the “Joy” idea starts off with an honorable tone, even though the ideas of universality of neighborhoods seems to be sidelined for yuppies. Say, that each and every person in that apartment-condominium were family with similar ideas. Working together would be concourse, and no stepping on the “less financially saavy” leaving behind smog to see how to look into the future of person to person conscientiousness.
No one should ever make a huge leap from one lifestyle to the next but pathways of improving person to person well-being ought to be honored.
Frugality is joy/per dollar spent.
It's most important to understand the difference between STINGY & FUGAL!
An important distinction for sure!
Well my definition of frugality is choosing the right decision. My question is. Why buy a house when you just been promoted? Isn’t that stressful? At first when its good, its really good but when time is hard. Upgrading to buy house doesn’t make sense. Save up money when the water is clear, invest money when the water is dirty. Why? Because when the water is clear nobody saves money, but when times get rough(dirty water) they will regret for not saving. A house is not an asset if you dont have enough money now. But saving for a house will get you security than just your promotion. Idealistic these video advise is. Muddy water to some is unappealing but to some its the holy grail to buy cheap asset and sell it high than what they bought.
There needs to be a way to tell the difference from cheapness and frugality as you define it. I like the term 'Fetish Frugality' for avoiding all unneeded spending. This type of frugality can be a good thing, or a bad thing, it kind of depends on the person and how it effects them emotionally, but its definitely different than the value maximizing that you are suggesting.
Thank you! Very helpful!
Glad it was helpful!
yes
12:12 "hypothetically"
But being stingy is part of frugality. Being frugal means you spend money on very few things and those things typically last longer like buying a huge thing of oil or toilet paper.
Frugality Rules!!!!
Thanks so much for the video. It is a way of being more aware of what we do and how we deliver it. I'm a lot more focused than ever before, and I've never felt the sense of pride I feel now (on the way I manage my money). At the end of the day, learning how to improve our lives and not letting time pass by is all we can do even if you can't control what will happen.
Batirtze, that's awesome to hear! And I couldn't agree more with you on the importance of always striving to improve our lives even if we can't totally control everything that happens :)
🏋️🏋️🏋️🏋️🏋️🏋️🏋️
“The average person spends 60,000$ a year.” I’ve never even made 60,000 in a year in my life.
I'm not necessarily happier with a more expensive car, but at least I worry less about car troubles.
Gooooood
God, grant me the serenity to accept the things I cannot change, the the the courage to change the things I can, ... Father, give us the courage to change what must be altered, the serenity to accept what cannot be helped, and the insight to know the one from the other.