5 Things Frugal People Never Spend Money On

YourMoneyToday ^ | 12/23/24

[aquila48]

In today’s economy, being frugal isn’t just a choice; it’s a necessity for many. This article illuminates specific areas where frugal people typically avoid spending. By understanding these spending habits, readers can learn not only to save money but also to prioritize expenditures that contribute to long-term financial health and well-being.

- Brand New Vehicles

- Expensive Coffees and Daily Takeouts

- Extended Warranties and Unnecessary Insurance

- Latest Tech Gadgets

- High-End Clothing Brands

- Trendy Diets and Fitness Fads

The Art of Spending Wisely....

[Qwapisking]

there are times to be cheap AND frugal and times to be frugal AND cheap. a winning combination best saved until after marriage. that’s when it’s needed the most. fyi.

[Qwapisking]

“hookers wasn’t on the list”. was going to suggest marriage but it’s not cheaper. just my 2.

[MachIV]

I have not purchased a brand new vehicle since 1993 and even then that car was a demo with 2,300 miles on it. I only buy old used cars for as near to cash as possible having never paid more than $13K for any vehicle and if it is not a Honda or Toyota.......screw it.

[grey_whiskers]

I guess you’ve had to economize now that the USAID payments have stopped.

[virgil]

I agree. I buy a new car if I can. I keep it for a long long time, though.

[Psalm 73]

Leaned heavily into those six points when we went to a one-paycheck family about 23 years ago.

Even after promotions and hefty raises over the years, I stayed the frugal course. A much easier way to live.

[af_vet_1981]

Incorrect; frugal people do spend money on:
1. - Brand New Vehicles -- Buy and hold for 10+ years
2. - Expensive Coffees and Daily Takeouts -- On vacation
3. - Extended Warranties and Unnecessary Insurance -- All insurance and extended warranties are unnecessary until one needs it; one can be selective
4. - Latest Tech Gadgets -- Again, unless one needs it
5. - High-End Clothing Brands -- Quality costs money; I would rather have high quality/end brands for high adventure treks than dreck that fails me
6. - Trendy Diets and Fitness Fads -- If it helps without harm, use it, don't be proud; "If you don't want it, give it back"

[Political Junkie Too]

For me, being frugal is a means to an end, but not the end itself.

Once frugality leads to wealth (through decades of compounding the savings), then it's time to enjoy the spoils.

Otherwise, why bother in the first place?

-PJ

[Libloather]

Hand sammiches - page 82 -

[DeplorablePaul]

I’m a long time Quicken user. It has gotten worse over time. It is particularly bad at categorizing transactions. It is also bad at connecting with external accounts. Accounts require too much manual intervention and editing. The reports are incoherent. The only use it has for me is as a historical database for transactions.

[freepertoo]

I do have a separate extended car warranty. Not terribly expensive and gives me a little peace of mind.

[sauropod]

Bkmk

[Lonesome in Massachussets]

Andrew Tobais, writing an economics column in Newsweek(!) said “Live below your means. Other people live on less than you make.” Second best economic advise I ever took. The best was “Avoid debt.” Also, a great source of wisdom was “A Random Walk Down Wall Street”. by Burton G. Malkiel. One form of debt that makes (or made) sense is a home mortgage. Other than that avoid any unnecessary debt.

[FLT-bird]

If you like Pasta that freezes really well. I’ll make the giant family size Spaghetti Bolognese, Pesto Spaghetti with chicken and Pine nuts, Chicken Tortellini Alfredo, Mushroom Cavatappi and a few other pasta dishes occasionally. Then put meal sized portions in ziploc bags and toss them in the freezer for whatever is left after I’ve had dinner that night. Its always a lot. That way in the future I can just grab one bag out of the freezer and defrost it in a few minutes.

One big batch of pasta can easily amount to 6-8 meals and you only had to cook once. When you divide the cost over that many meals it turns out its quite cheap.

[maddog55]

I’m guilty of #1 but my last lasted 16 years.

[Gay State Conservative]

I’ve seen it written...more than a few times...that with cars the best thing to do is buy a reliable used one that’s a couple of years old,maintain it properly and drive it into the ground.

[hinckley buzzard]

Looks like I’m pretty frugal, and didn’t even know it. Although I did treat myself to a new Camry six years ago.

[catnipman]

“My wife and I are both 80. We buy anything we want if we can afford it.”

ditto ... except we’re 73 and we don’t want a lot ... already have too much stuff anyway and been giving away some of it to younger family members ... nice home ... no debt ... pay cash locally ... still can do most lawn care and home repair myself ... take out once in a while, but cook everything else myself because i like to cook and it’s WAY healthier anyway ... auto pay CC for online stuff ... did recently treat myself to a new (actually new) auto for the first time in 30 years, and having fun upgrading my wood-working shop now that i can afford to ... life is good in spite of health problems ...

[No.6]

That’s true recently. In the past the new vehicle depreciated so rapidly that a 2-3 year old used car was a great deal.

IF you didn’t buy someone else’s disaster. Things like ‘certified’ used vehicles, CarFax, and other services exist because in our new low-trust society people will, because they can, sell anything that rolls including cars that were underwater during floods or otherwise should-be-junked.

It’s very dynamic; and the real rule ought to be “whatever you buy, keep it as long as you can.” The people who need to have the latest thing or style buy themselves into trouble same as phones or clothes.

[Varsity Flight]

#6 false women