Lexie wrote: That's great Joker. You have arrived!! When the kids were young I used to give them a limit on whatever they wanted to buy. You have never seen such wheeling and dealing when it came to something they wanted. One would save until she had enough money. Another would settle for something less and the other one would spend his right away on junk. Three kids, three different mindsets. It's amazing. Glad you have it figured out.

Those are great life lessons for your kids!

That's great Joker. You have arrived!! When the kids were young I used to give them a limit on whatever they wanted to buy. You have never seen such wheeling and dealing when it came to something they wanted. One would save until she had enough money. Another would settle for something less and the other one would spend his right away on junk. Three kids, three different mindsets. It's amazing. Glad you have it figured out.

I have to say that I agree with you that being frugal is not really all that great. Once I finally made enough money to be able to shop without counting my pennies, I loved the feeling. I never overspend (I guess it's a holdover from the frugal days) too much and never leave myself with grocery money and gas.

It can be tough figuring it out when you're first getting out there on your own. A buddy of mine was covered by his parents in college, but they wanted him to learn to budget so he was only given what he needed. He often found himself without grocery money at the end of the month. I, on the other hand, could ask for and receive extra cash if I found myself short and I very rarely had to ask. I think some people are spenders and some are savers by nature.

I agree FrankN. We are still managing my son's checking account and other finances. If we didn't, he would spend until there was no more. He has gotten a lot better over the last few years and we plan to turn everything over to him in the near future but for now, we're still paying his bills. He wasn't raised this way so I'm not sure where this comes from.

Lexie wrote: "As Dave Ramsey would say: "Live like no one else so, later, you can live like no one else."

I love this quote and it's so true. If we scrimp and save now, later we can enjoy the fruits of our labor. My generation that has practiced this in their youth are now taking cruises and going on trips and aren't concerned with the money.

And I am not sure millennials practice this! Actually its more like spend now, save later!

"As Dave Ramsey would say: "Live like no one else so, later, you can live like no one else."

I love this quote and it's so true. If we scrimp and save now, later we can enjoy the fruits of our labor. My generation that has practiced this in their youth are now taking cruises and going on trips and aren't concerned with the money.

JacksonM wrote: Frugality has its place, but you can make it fit your lifestyle after a while. One of my habits is to eat out regularly, which frugal experts will tell you is a big no-no.

When it comes to cooking at home, I've found that it's actually cheaper to eat out at a restaurant or fast food place when you're just feeding two adults. Even with tipping the server 20% of the bill I don't spend as much. Meat is so expensive at the store.

Frugality has its place, but you can make it fit your lifestyle after a while. One of my habits is to eat out regularly, which frugal experts will tell you is a big no-no. I pay my bills, my outstanding debt is low (mortgage and vehicle), and I save quite a bit per month as it is, so it's a luxury I allow myself. I'm also single and hate to cook and have friends that also like to eat out. If circumstances changed, so would my habit.

Moneyes wrote:

Rob101 wrote: I say try to live just a bit over your means and this will force you to look for ways to earn more money.

Yet once you get into the habit of spending more than you make, it doesn't matter how much you make. You will always want more. A habit is called such for a reason.

There is nothing wrong with Ramen dinners and a 500 dollar car, as long as you have a financial plan to get you to lobster dinners and a paid in full Mercedes.

As Dave Ramsey would say: "Live like no one else so, later, you can live like no one else.

Great quote!!!

Rob101 wrote: I say try to live just a bit over your means and this will force you to look for ways to earn more money.

Yet once you get into the habit of spending more than you make, it doesn't matter how much you make. You will always want more. A habit is called such for a reason.

There is nothing wrong with Ramen dinners and a 500 dollar car, as long as you have a financial plan to get you to lobster dinners and a paid in full Mercedes.

As Dave Ramsey would say: "Live like no one else so, later, you can live like no one else.

Cents wrote: I agree with the others who said living beyond your means as a motivator to make more money isn't going to work and could get you in a lot of trouble. If you don't like being frugal, that should be motivation enough to try to make more money.

I agree.

I can't say that spending just a little more than you earn to encourage earning more money is a great idea. As you earn more money, aren't you just going to keep spending more, without ever paying off the original debt? The extra money you are spending has to come from somewhere, and that has an interest rate. If you don't have savings or reserves losing your job or a sudden illness would wipe you out and leave you bankrupt very quickly.

I would also have to agree with that, it doesn't seem to make much sense at all.

I agree with Goldbug that it doesn't make much sense to go out to eat and order something you don't like. Even if it's only a few dollars, what is the point in spending that money in the first place?

Egghead wrote: I'd say there's sensible frugal - say not buying more fruit until you use the fridge full you already have at home - and miserable frugal, like a guy I once met who ordered the cheapest food on a menu, even if he didn't like it very much.

Is that really saving money? If he doesn't like it, he won't eat as much of it so the value for money is not there and he's not getting any pleasure out of it anyway. There has to be a balance between saving money and quality of life, and it seems as though he came down on the extreme side of it.