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Savings money in today's hyperinflation isn't smart. Because the money you saved is worth less and less over time. Assuming the inflation was 2% the way the Feds wanted it. You are losing 2% in buying power annually. Assume you put it in a CD that pays you 5%, great you're coming ahead. But the reality is that the dollar has been losing value steadily due to the money printing and all of the spending it does without GDP to back it up. Over time the money saved is not going to be ahead of inflation. I know people who saved for a decade only to have less than $50k in the bank while investing it would've been better with compounding growth.
You'll never get rich saving money and all the money saved will get eaten away by inflation and you'll have nothing to show for other than that you've been extremely frugal with money and not have much to show for except for a small pot of money vs someone who wisely invested and leaped past your savings.
there are plenty of people who know how to be happy and enjoy life and yes have fun without "exotic travel" and yes without spending a lot of money. Being able to save and live within their means, is a sign of stability and being responsible, and not needing to spend loads of money on a bunch of material stuff to be happy.
OTOH there are also people who have an unhealthy attachment to money and deprive themselves of enjoying life by obsessively saving and investing. Even to the point of not buying clothes and refusing invitations to go out with friends, and choosing to do only activities that don't cost anything.
[quote=elnina;66489983]I agree. People like him are too focus on saving and they might not be a fun to date. Their money means nothing to the dates if asked to split bills or go for a walk in the park, instead of a nice, exotic cruise.
I guess they match the best with another saving focused person, who would enjoy trips to Goodwill to buy clothes and eating only homemade meals.[/QUOTE
I guess some of us would prefer visits to wonderful state and national parks and cycling along pretty lanes to exotic cruises. Different stokes.
We do like to eat out sometimes, but usually not high end restaurants. We prefer smaller venues and ethnic foods. Some food trucks are excellent!
For me, personally, a cruise would be my idea of a hellish vacation.
Call me a nature-oriented woman. My DH and are well-matched in our ideas of day trips and vacations...we prefer to walk on trails, be around ancient trees, canoe or kayak, and visit horticulture gardens than be around hordes of people gorging on all-you-can-eat food on cruises...(though some of the smaller river cruises with a small group of people and an educational focus that give you a taste of other cultures would be quite appealing).
Single guy here and all I do is save money. I'm frugal but also don't even find things I want to spend money on. I don't care about cars. I don't go out and drink at bars anymore. I have everything I want for my house. I don't buy clothes. My hobbies are cheap or free. Is this normal?
So long as you don't cross the line between frugality and thrift into miserliness and cheapness, there's nothing the matter with your mindset.
I pay for my basic needs without being cheap. After that there might be the random thing I might feel like buying, but at no point in my life have I intentionally purchased material items just because I could, or to allude to some sort of status or appearance by having certain "stuff".
I'm the one at the Jones's yard sales looking for things that might be useful to me, once they have lost value to the original owner. I see so much junk at yard sales that I know people dumped good money on, most of which will probably end up donated to thrift stores or thrown out. Glad I'm not one of those spenders.
Ditto here. I've been a yard/rummage/estate sale/thrift store/second-hand shopper (and occasional curb picker) since childhood; it's shocking to me just how much people spend on "stuff."
On the other hand, if people didn't buy or were not given new things, the second-hand market would be in dire straits. Being a direct beneficiary of other people's spending habits has been a boon to me. I can pretty much find anything that I want or need for free or cheap if I'm patient enough to wait to find it second-hand. My friends and family are of a similar mindset (partner is, too, to a great degree) and I live in a normal, working-to-middle class neighborhood, so there's very little pressure to "keep up with the Joneses."
I love to shop and look around at what's available to purchase, but making the decision to actually buy something (even second-hand) takes thought and, in the case of durable goods like a washer or car, research. When it makes sense to spend money, I'll certainly do it--especially on things that will be used often and for a long time (good boots/shoes, car/things for the car like wiper blades, washer, new windows, etc.)
One of the few exceptions to this was buying my house (knew that it was the place for me when I did my first walk-through), but that was one of my better financial decisions--especially given where the housing market has gone in the decade since I bought it.
Yeah. Not sure where that post got pulled from. Not accurate and has nothing to do with my post. My home is nice and larger than I need and dating life is fine as well. No im not buying clothes at the goodwill or forcing dates to pay. People need to mind their own business and stop trying to drawing unrelated conclusions off limited information
lol… if you want people to “mind their own business” perhaps you should keep your own personal business to yourself. Next time add a disclaimer to your post.. “only those who agree with me need reply”.
lol… if you want people to “mind their own business” perhaps you should keep your own personal business to yourself. Next time add a disclaimer to your post.. “only those who agree with me need reply”.
OTOH there are also people who have an unhealthy attachment to money and deprive themselves of enjoying life by obsessively saving and investing. Even to the point of not buying clothes and refusing invitations to go out with friends, and choosing to do only activities that don't cost anything.
Have you ever met a tightwad?
I have friends like that, & through the years, I find it tougher and tougher to have fun with them.
Single guy here and all I do is save money. I'm frugal but also don't even find things I want to spend money on. I don't care about cars. I don't go out and drink at bars anymore. I have everything I want for my house. I don't buy clothes. My hobbies are cheap or free. Is this normal?
Perfectly 'normal'.
I've had many friends do just as you do, and others who spent every dime, and others who gambled it all away.
That's normal (for them).
No condemnation, you do you.
If you ever desire a change, do it for you, not for anyone else.
Why bother. (and why bother asking ) That just leads to 'solutions' based on the minds, desires, experience of others. It's not you, Don't bother.
That was me until I retired. I spent my days earning money; now I spend them spending it!
If you're not retired yet, maybe that will "cure" you.
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Next time add a disclaimer to your post.. “only those who agree with me need reply”.
) That just leads to 'solutions' based on the minds, desires, experience of others. It's not you, Don't bother.
