The lifestyle of hustling stingy side started slowly creeping into mainstream American society around the same time Macklemore and Ryan Lewis's anthem "Thrift Shop" dominated the airwaves.
Considering most college graduates learners struggling with debt and facing a recession, it is difficult to understand why frugality is in vogue.
Keeping with the Jones family can be the easiest way to get into debt, maintain the frugalistas might send you to the nut house.
extreme frugality may not work for you
I have a fairly frugal person consider.
I do price comparisons before making most purchases, even groceries. budget my money, save part of all that I always perform a cost-benefit analysis before giving my hard earned money.
Although I was called to give up the installation of air conditioning in my New York City apartment and instead wear a fan around different rooms (and sometimes put a bottle of frozen water in my sweaty neck), I do not consider myself extreme.
Watch one episode of Extreme Cheapskates TLC will show you just how far people will go to save money
A sample of cheapskate extreme behavior: ..
- Request other restaurant patrons for their remains
- deliberately dress like a homeless person to skip diving behind restaurants to serve food to guests.
- towel fabric Reuse as toilet paper.
not to copy others' extreme tactics.
If A / C is a must-have for you, then my methods to save $ 300 to $ 500 each summer will not work. But maybe you prefer to pinch pennies in another arena that I find repugnant.
Regardless, you can probably spring for TP, even if you dig under a mountain of debt.
although registration, poor deprivation
Pay yourself first.
This simple advice, but powerful can help put you on the right financial path. But paying yourself first does not mean you should stuff away most of your paycheck, leaving nothing left for experiments in the present.
Some people prefer to live a minimalist life saving huge chunks of their salary and young retirement because they believe they will not succumb to lifestyle inflation.
Although these courageous individuals can be admired, their life choices may not work for you.
deprivation in your financial life is no different than in your physical life. Tweet this
cup sugar, carbohydrates and other foods to lose weight often leads to binge eating and rapid weight gain later. The same mentality applies to your money.
By socking it all away in savings (or debt repayment) and not allowing you to enjoy life at least a little, you'll probably end up going on a spending spree harmful.
Before heading gung-ho to throw 20% in your 401 (k), maxing out an IRA, and returning another 40% of your salary into investments and savings, make sure to be practical about how much you can actually save.
And do not forget to live a little. You do not want to spend your entire emergency fund in a crisis of "I deserve this to save so" induced madness.
Determine what works for you (not your frugal idol)
role models are important, but it does mean not that we should imitate everything they do.
There are simply no one-size-fits-all solution to money. Tweet this
Your personality plays a huge role in your relationship with money, so what works for your financial idol may not work for you.
Maybe you 're adverse to risk and reluctant to put money into the stock market.
Or, you tend to overindulge with credit cards, so you should not try to churn cards for cheap travel.
, or maybe you feel more comfortable with most of your financial life in an institution instead of always shop around for the best deals
frugalistas the next or you read on the web, may seem an inspiration. after all, they retire at 35 years and raise their families at $ 30,000 per year, but is it the shape lifestyle with what you want?
Maybe you prefer to travel abroad, experience the occasional expensive restaurant or buy slatted coffee shop a few days a week.
Just because it works for frugalistas, does not mean it's good for you.
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