Things cheap people do
Discussion
Back in the 70s I used to travel around the country to watch all the British and world championship scramble meets. I would always volunteer to be a marshal so I got for free, got a free lunch and closer to the action. When I got my 1st mortgage at 25, I was so tight I used to shower at work and have most of my meals there in the subsidised canteen. Managed to retire at 57 four years ago.
samsock said:
I'm doing this, and on track to retire at 40 in a couple of years.
It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
and you are still living at well as a £60K person saving nothing. It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
I know it depends on your personality/outlook but I agree that whilst lots tend to spend what they earn you certainly don't have to and can be happier/more free from not doing it. Often though the ones that earn a lot get do so because they are so good/committed/like the work they do and so aren't perhaps looking to stop and get off the treadmill, they like earning it so feel free to spend it as they are confident the supply of it isn't going to dry up. Others I think are driven by the image of success or that life's a competition but then there is always someone more wealthy, even to the point that you have a private jet but it's only a 'x' and you can't stretch to a Monaco moored super yacht.
Takes/needs all sorts I think so as usual if it doesn't hurt you or others you can be a spendthrift or as reckless with your cash as you like as far as I'm concerned!
I'm frugal at times, but not so much in the spirit of saving for the future, more so to spend money on things that I feel are more of a priority of hard earned cash.
I never used to be, but whilst saving for our mortgage deposit we picked up some habits that have just kind of stuck.
This makes for some interesting situations. I very, very rarely ever buy meat from the supermarket unless its got a Lidl 30% reduced sticker. In fact, if there are lots of good bits in there I tend to buy it all and just stock the freezer up.
There are times when I get so hung up online over saving say £5 for delivery, or finding the cheapest possible price for something. But then I'll happily hand over £1k for a new exhaust system, new camera or on a weekend city break.
I think for me its about making those savings on the mundane spends so that you can enjoy the rest of life that little bit more. Clothes for instance don't really rank that highly on my spending priorities, or at least brand names. I like good quality garments but couldn't give a toss if it had a designer brand name on it (this goes for everything except shoes/trainers – I'm a geek for that). My mum owns a business that orders in a lot of off-the-shelf plain garments for printing/embroidery – I've found a couple of t-shirt/hoody ranges that offer some great colours and I probably spend about 90% of my time in 'unbranded' stuff ordered through there. I then have a couple of nice bits for going out.
The other half however loves her clothes (although also loves a bargain to the point she'll buy something BECAUSE its on sale), but spend the absolute minimum possible to keep her car on the road and healthy.
One persons candy is another persons cabbage.
I never used to be, but whilst saving for our mortgage deposit we picked up some habits that have just kind of stuck.
This makes for some interesting situations. I very, very rarely ever buy meat from the supermarket unless its got a Lidl 30% reduced sticker. In fact, if there are lots of good bits in there I tend to buy it all and just stock the freezer up.
There are times when I get so hung up online over saving say £5 for delivery, or finding the cheapest possible price for something. But then I'll happily hand over £1k for a new exhaust system, new camera or on a weekend city break.
I think for me its about making those savings on the mundane spends so that you can enjoy the rest of life that little bit more. Clothes for instance don't really rank that highly on my spending priorities, or at least brand names. I like good quality garments but couldn't give a toss if it had a designer brand name on it (this goes for everything except shoes/trainers – I'm a geek for that). My mum owns a business that orders in a lot of off-the-shelf plain garments for printing/embroidery – I've found a couple of t-shirt/hoody ranges that offer some great colours and I probably spend about 90% of my time in 'unbranded' stuff ordered through there. I then have a couple of nice bits for going out.
The other half however loves her clothes (although also loves a bargain to the point she'll buy something BECAUSE its on sale), but spend the absolute minimum possible to keep her car on the road and healthy.
One persons candy is another persons cabbage.
Scootersp said:
and you are still living at well as a £60K person saving nothing.
I know it depends on your personality/outlook but I agree that whilst lots tend to spend what they earn you certainly don't have to and can be happier/more free from not doing it. Often though the ones that earn a lot get do so because they are so good/committed/like the work they do and so aren't perhaps looking to stop and get off the treadmill, they like earning it so feel free to spend it as they are confident the supply of it isn't going to dry up. Others I think are driven by the image of success or that life's a competition but then there is always someone more wealthy, even to the point that you have a private jet but it's only a 'x' and you can't stretch to a Monaco moored super yacht.
Takes/needs all sorts I think so as usual if it doesn't hurt you or others you can be a spendthrift or as reckless with your cash as you like as far as I'm concerned!
You don't have to stop though, but it's lovely to have the option to work on your own terms. If you want to keep the same job, you could work part time, or take a lower paid job at a more relaxed company. Or you could keep the exact same job, but enjoy the feeling you have the power to quit anytime should the need arise. I know it depends on your personality/outlook but I agree that whilst lots tend to spend what they earn you certainly don't have to and can be happier/more free from not doing it. Often though the ones that earn a lot get do so because they are so good/committed/like the work they do and so aren't perhaps looking to stop and get off the treadmill, they like earning it so feel free to spend it as they are confident the supply of it isn't going to dry up. Others I think are driven by the image of success or that life's a competition but then there is always someone more wealthy, even to the point that you have a private jet but it's only a 'x' and you can't stretch to a Monaco moored super yacht.
Takes/needs all sorts I think so as usual if it doesn't hurt you or others you can be a spendthrift or as reckless with your cash as you like as far as I'm concerned!
I think the key here is choice. Driving a car for fun, is only really 100% fun, if you genuinely have freedom of choice whether to drive or not.
some hillarious ones in here, also some I might give a go...eg. popping into Asda late for the whoooops! pricing/discounts.
markymarkthree said:
Back in the 70s I used to travel around the country to watch all the British and world championship scramble meets. I would always volunteer to be a marshal so I got for free, got a free lunch and closer to the action. When I got my 1st mortgage at 25, I was so tight I used to shower at work and have most of my meals there in the subsidised canteen. Managed to retire at 57 four years ago.
If you could go back in time would you have done anything different? Do you regret anything with regards to frugal spending or has it worked our very well? Genuine question.samsock said:
I'm doing this, and on track to retire at 40 in a couple of years.
It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
If you earn 90k a year, you're only left with 60k of it anyway after the tax man has taken his chunk...It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
Dan_1981 said:
daddy cool said:
Fastchas said:
daddy cool said:
When I buy loose tomatoes in the supermarket (which are weighed of course) I twist off the bit of stem remaining.
If Sainsburys think they can charge me for that they have another think coming!
Serious question... Did you mean to type 'think' or is it a typo?If Sainsburys think they can charge me for that they have another think coming!
It's just that the way the english language is evolving there are more people than ever that say 'anythink' nowadays, so much that I've even seen it in written form!
https://www.theguardian.com/media/mind-your-langua...
mackay45 said:
samsock said:
I'm doing this, and on track to retire at 40 in a couple of years.
It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
If you earn 90k a year, you're only left with 60k of it anyway after the tax man has taken his chunk...It's not so much about living a life of poverty, rather, it's more about maintaining a high savings rate, relative to your income.
For instance, 33% saving rate arguably won't change your lifestyle in a hugely meaningful way. Above a certain level of higher income there are diminishing returns.
For example if I earn 90k, but only spend 60k a year, after 15 years of 5% returns, you would have 750k saved up. If you were then to retire maintain the same spend, the balance would last you a further 17 years.
So for the sake of spending 2/3 of your income, you have basically bought yourself 17 years of financial freedom.
Assuming 5% + inflation returns, which is a big if.
Is that extra 33% really worth 17 years of work? For some people sure, for others maybe not.
Don't you ever worry about the richest man in the graveyard thing?
I kind of assumed I wouldn't live very long - and so have had the best time ever and blown the lot !!
Yes my grandad died at 50, all the more reason, to retire at 40!
In my 20s and early 30s I had a ton of energy to work long hours and accumulate.
Now pushing 40 my legs have gone, so to speak, so glad I put the work in, but looking forward to taking things easier, to spend more time with the kids etc.
There is very little chance of being the richest person in anyone's graveyard!
In my 20s and early 30s I had a ton of energy to work long hours and accumulate.
Now pushing 40 my legs have gone, so to speak, so glad I put the work in, but looking forward to taking things easier, to spend more time with the kids etc.
There is very little chance of being the richest person in anyone's graveyard!
samsock said:
Yes my grandad died at 50, all the more reason, to retire at 40!
In my 20s and early 30s I had a ton of energy to work long hours and accumulate.
Now pushing 40 my legs have gone, so to speak, so glad I put the work in, but looking forward to taking things easier, to spend more time with the kids etc.
There is very little chance of being the richest person in anyone's graveyard!
ha fair In my 20s and early 30s I had a ton of energy to work long hours and accumulate.
Now pushing 40 my legs have gone, so to speak, so glad I put the work in, but looking forward to taking things easier, to spend more time with the kids etc.
There is very little chance of being the richest person in anyone's graveyard!
it's a balance isn't it?
I did something a bit different, I had a very good time and 'wasted' a lot of money on holidays, racing, life.............
but then I also bought (albeit with mortgages) investments to help me as the rainy day fund later...............some vehicles that don't depreciate
haven't saved much but have assets to liquidate should it be required.
I guess I've done 40% assets, 40% party and 20% saving................
I'm at 43 now - and no plans to retire, because I enjoy the work!
Back on topic - I don't know anyone tight, I have met them, but I cut them off as quickly as possible!
Im home now and have some more time.
Other ways ive saved money :
It sounds really depressing, but has allowed me to live a lifestyle i otherwise wouldnt have.
Im still an apprentice- although earning fairly well now, but a year ago this time i was on £17000.
Ive recently bought a one bed flat with half the deposit being my own that i had saved.
I have two cars.
I travel to Spain to see my girlfriend once a month or she travels here.
I'm genuinely happy and really enjoy saving money and looking for bargains.
If it takes an hour's effort to find something cheap enough that you save more than you would have earnt at work in an hour, then why wouldnt you?
It really shocks me and also makes me appreciate my frugality when i see other people my age spending money like it grows on trees.
Other ways ive saved money :
- Eat chips at work then have a nutritious meal in the evening when i get home.
- Cook my food in bulk (usually 6-10 portions at a time)
- Buying 20% fat mince rather than 5%, but eating 15% less of it...
- Second hand furniture
- My phone contract is a £17 a monthblack friday deal (phone outright)
- My internet is also £17 a month and is plenty fast enough for one person
- Cancelled my gym membership. Replaced by walking up the stairs when ever possible. (blows my mind how many people pay to go to the gym and then talk the lift! WTF?)
- I take full use of a discount scheme at work that gets me between 4-10% off various shops (big one being Tesco, ive saved about £500 in a year and a half)
- If im making a journey, if im not busy ill set off earlier and go slower.
- A fairly ridgid budget £35 a week on food, £40 a week on anything "fun" such as drinks with mates, buying a game or going for a hoon in the car. Once that money is gone, i stay at home.
It sounds really depressing, but has allowed me to live a lifestyle i otherwise wouldnt have.
Im still an apprentice- although earning fairly well now, but a year ago this time i was on £17000.
Ive recently bought a one bed flat with half the deposit being my own that i had saved.
I have two cars.
I travel to Spain to see my girlfriend once a month or she travels here.
I'm genuinely happy and really enjoy saving money and looking for bargains.
If it takes an hour's effort to find something cheap enough that you save more than you would have earnt at work in an hour, then why wouldnt you?
It really shocks me and also makes me appreciate my frugality when i see other people my age spending money like it grows on trees.
Benbay001 said:
Im home now and have some more time.
Other ways ive saved money :
It sounds really depressing, but has allowed me to live a lifestyle i otherwise wouldnt have.
Im still an apprentice- although earning fairly well now, but a year ago this time i was on £17000.
Ive recently bought a one bed flat with half the deposit being my own that i had saved.
I have two cars.
I travel to Spain to see my girlfriend once a month or she travels here.
I'm genuinely happy and really enjoy saving money and looking for bargains.
If it takes an hour's effort to find something cheap enough that you save more than you would have earnt at work in an hour, then why wouldnt you?
It really shocks me and also makes me appreciate my frugality when i see other people my age spending money like it grows on trees.
Well done you. You don't sound cheap, just sensible beyond your years.Other ways ive saved money :
- Eat chips at work then have a nutritious meal in the evening when i get home.
- Cook my food in bulk (usually 6-10 portions at a time)
- Buying 20% fat mince rather than 5%, but eating 15% less of it...
- Second hand furniture
- My phone contract is a £17 a monthblack friday deal (phone outright)
- My internet is also £17 a month and is plenty fast enough for one person
- Cancelled my gym membership. Replaced by walking up the stairs when ever possible. (blows my mind how many people pay to go to the gym and then talk the lift! WTF?)
- I take full use of a discount scheme at work that gets me between 4-10% off various shops (big one being Tesco, ive saved about £500 in a year and a half)
- If im making a journey, if im not busy ill set off earlier and go slower.
- A fairly ridgid budget £35 a week on food, £40 a week on anything "fun" such as drinks with mates, buying a game or going for a hoon in the car. Once that money is gone, i stay at home.
It sounds really depressing, but has allowed me to live a lifestyle i otherwise wouldnt have.
Im still an apprentice- although earning fairly well now, but a year ago this time i was on £17000.
Ive recently bought a one bed flat with half the deposit being my own that i had saved.
I have two cars.
I travel to Spain to see my girlfriend once a month or she travels here.
I'm genuinely happy and really enjoy saving money and looking for bargains.
If it takes an hour's effort to find something cheap enough that you save more than you would have earnt at work in an hour, then why wouldnt you?
It really shocks me and also makes me appreciate my frugality when i see other people my age spending money like it grows on trees.
So said:
If people want to be cheap, it's fine by me as long as it doesn't affect me. All too often, though, cheap people cost other people money, which is high on my list of reasons to fall out with people.
Got to agree with this. Nobody likes the guy that will happily take the drinks but never gets a round in!I knew a guy like this, always dodging the bar, always avoiding putting his hand in his pocket. One time we were out buying rounds, beers, shots whatever. This guy wouldn't buy a round. So after some stick he comes back from the bar with a round of shots....
A bottle of WKD or some crap, poured into 5 shot glass! As if we wouldn't notice
The Selfish Gene said:
I was always taught to be first to the bar...............
alas, people start taking advantage of that quality, but it becomes clear and it's ended quickly.
I've been known to buy a round of drinks for everyone except the tight person...........
leave them sat without.
Then I'm a total
.
There’s always one in a group that claims he’s skint it’s generally the one that gets the most salas, people start taking advantage of that quality, but it becomes clear and it's ended quickly.
I've been known to buy a round of drinks for everyone except the tight person...........
leave them sat without.
Then I'm a total
.tfaced as well. JaredVannett said:
Choose your sandwich wisely: When I first met this colleague we walked to the nearest shop to buy a sandwich for lunch. After I had paid for my sandwich I found him still quibbling over which sandwhich to pick. He wanted a BLT.... there were plenty of them right infront of him, he kept picking them up and putting them back. I asked what he was doing... to which he replied, "It's all about the bacon to salad ratio, the bacon is the best part and costs more, I want as much of it as I can for the money."
I did laugh at first, but came round to his way of thinking - and I do the same now, albeit to less extremity.
I do this. Some sandwiches have got next to no filling in them and others are chock solid nearly bursting out of the packet! I did laugh at first, but came round to his way of thinking - and I do the same now, albeit to less extremity.
It's got to be done.I also "weigh" different packets of crisps in my hands to see which packet has got more in it
. I don't care that they're all the same weight, some packets have definitely got more crisps in and those are the ones I want . I surely can't be the only person to do this?I also remove the 2ft long stems from broccoli and leave them on the shelf and I've also recently started measuring out the correct amount of water to make 2 mugs of coffee ensuring I get maximum efficiency from the kettle/hot water. Both of those mugs are for me, by the way, as making 2 at once halves the electricity cost and I can drink the 2nd mug before it goes cold
.I'm not even skint! I have a healthy bank balance. Has it begun already.... ?
I've not started collecting coupons/vouchers yet and it's very rare that I rummage through the 'reduced' sections so there's hope for me yet. 
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