I Am Frugal - to a fault perhaps.

[Sower]

1 hour ago, Marathoner said:

poverty is relative.

I remember reading some of Billy Graham on his childhood, and he said if the child protective services of today saw how poorly Billy's family was back then, they would put his parents in jail as abusive. Being poor in the 40-50's was normal. Most everybody was but didn't know it if they had food and clothing and a roof over their head. Shoes were for Sunday only. Go to a third world country and get a better picture of how rich we really are blessed here in America. Shouldn't wonder the masses of people trying to get their family here across the border  however they can. Yes, I agree Marathoner, poverty is relative. The poor widow woman giving away her last two mites gave all.

[Marathoner]

I'm a staunch advocate of living within our means, but there are exceptions. What is the exception in my estimation?

The only exception pertains to a motor vehicle which in truth, is nothing more than a shrewd goal setting scheme. In this case, I've used a simple method: I acquired a store credit card with the minimum line of credit. I make a purchase with this card and then pay it off immediately. My credit rating has been increasing as a result of this strategy. The idea isn't to use a line of credit to overextend myself but rather, only deal with sums I am capable of paying in full to rehabilitate my credit score which went to "zero" during all of those years when I was intermittently homeless and destitute. 

I'm not going to purchase a brand-new automobile. No, I'm going to acquire a newer model vehicle that I'll be able to pay off within two years or less. A credit score is needed to pull this off, of course. Do I have enough in the bank to buy a replacement vehicle outright? Yes, but draining the well dry is neither wise nor a good move. I will sink well over 30% of the vehicle's value as a downpayment, then smile while the monthly payments prove to be a pittance. That's the plan, anyway. We'll see if it works out!

My old Subaru deserves retirement. It's served me well over the years. 

[Sower]

1 hour ago, Marathoner said:

Do I have enough in the bank to buy a replacement vehicle outright? Yes, but draining the well dry is neither wise nor a good move

That works for you and that is good in that you have stuck to your plan/goal. My mom taught me a home was the only thing to go in debt for. For my wife and I and young growing family way back when, I decided as the head of the family that because we continue to accrue more debt for stuff we thought we needed for our family and saw no end, we did the credit card cutting up and started the cookie jar principle. Put money in our cookie jar, remove when needed. No money, wait or work. Later we called it the envelope system, labeling envelops for necessities first like food electric water gas etc debt pat off, and then clothes and replacement items. Amazing what we found out what we could do without.

If there was no money in the jar, or no money for some breakdown, tuff. Live without or work extra jobs to supplement. All debt was eventually eliminated, but we stayed in that old 'temporary' falling apart "temporary" house trailer for 30 yrs. It didn't leak much and we sometimes  shared it with a few local invading wildlife families.  Our kids bought their own cars and paid their way through college. They worked for what they wanted and learned a work ethic, nothing is free. Credit cards are bad for most people who do not see how the system works. Owe no man anything.

The kids left, married and have families. My wife and I then finally built our 'dream home,' debt free, God supplying all of what we needed for material and labor, my talent as a builder, and help from friends. Had we used the trap of world system of burrowing to have instant gratification we would still be in debt. And worse, had we just used the world system and went back in debt for a home we would NEVER have saw the hand of God at work, whom we trusted to supply all our needs in his timing, who supplied everything. I cannot say I built our home much as I would like to brag.  God did, and I will always remember, be patient and trust God and his timing to work out how He takes care of us. God is faithful. Our best spiritual learning as a family was during those lean mean years.

[Gabriel80]

6 hours ago, Marathoner said:

I'm a staunch advocate of living within our means, but there are exceptions. What is the exception in my estimation?

The only exception pertains to a motor vehicle which in truth, is nothing more than a shrewd goal setting scheme. In this case, I've used a simple method: I acquired a store credit card with the minimum line of credit. I make a purchase with this card and then pay it off immediately. My credit rating has been increasing as a result of this strategy. The idea isn't to use a line of credit to overextend myself but rather, only deal with sums I am capable of paying in full to rehabilitate my credit score which went to "zero" during all of those years when I was intermittently homeless and destitute. 

I'm not going to purchase a brand-new automobile. No, I'm going to acquire a newer model vehicle that I'll be able to pay off within two years or less. A credit score is needed to pull this off, of course. Do I have enough in the bank to buy a replacement vehicle outright? Yes, but draining the well dry is neither wise nor a good move. I will sink well over 30% of the vehicle's value as a downpayment, then smile while the monthly payments prove to be a pittance. That's the plan, anyway. We'll see if it works out!

My old Subaru deserves retirement. It's served me well over the years. 

Well done.  You have accomplished something that takes immense self discipline and is quite rare today.  

God has surely blessed you.

[Neighbor]

All very interesting and helpful responses.

I do think about a statement that Zola Levitt used to enjoy repeating-"Happy is the man whose work is his play".

[Who me]

18 hours ago, Neighbor said:

I wonder when does being frugal become miserly?

When you have a need, the means to meet that need but don't meet it. That is miserly.

Small tablets with Internet access are cheap and if you shop around you can find reconditioned  PCs, laptops etc etc for a fraction of the cost of a brand new machine. This is being frugal.

 

[BibleStudent100]

21 hours ago, Neighbor said:

Hi I wonder when does being frugal become miserly?

Day in and day out the public is indoctrinated with materialism. Buy this! Buy that! Borrow money here! Practically every medium of communication constantly stresses the importance of money and material possessions. Even godliness and Christianity have come to be equated with material success, as in "prosperity theology."   

Of course, you can't beat Jesus' words:  “Stop storing up for yourselves treasures upon the earth, where moth and rust consume, and where thieves break in and steal. Rather, store up for yourselves treasures in heaven, . . . Observe intently the birds of heaven, because they do not sow seed or reap or gather into storehouses; still your heavenly Father feeds them. Are you not worth more than they are? . . . So never be anxious and say, ‘What are we to eat?’ or, ‘What are we to drink?’ or, ‘What are we to put on?’ For all these are the things the nations are eagerly pursuing. For your heavenly Father knows you need all these things. Keep on, then, seeking first the kingdom and his righteousness, and all these other things will be added to you”—Matt. 6:19-33.
 

[RdJ]

9 hours ago, Who me said:

When you have a need, the means to meet that need but don't meet it. That is miserly.

I disagree. My dad didn't spend a cent on himself.  My sister gave him money for his birthday and he was so happy. He bought himself 2 pairs of shoes. He said: This is the first time in my life I have 2 pairs of shoes! He had 10 thousands in savings. My mom got so many shoes from him. She said: please stop buying them. I have enough. He was always very generous. Gave me money for the kids to go do something fun. Yeah maybe he was miserly to himself. For years I ate bread with cheese for dinner and the money I saved I spent on toys for the kids. A kid from 2 rich parents was jealous LOL. We gave him some stuff. They had a big fat house, big fat car, mother went on a holiday with her friends, but he didn't get a fidget spinner and my kids got several of them.

Oh my uncle. He was a farmer. Small farm. Had to sell it for a new road. He had a load of money then. He gave everything to the good cause. He ate baked onions for dinner and the cheapest stuff. He lived really cheap and gave thousands to good causes all the time. His son is a millionair and has cattle for fun and splurges money.

Edited February 23, 2024 by Renskedejonge

[D. Adrien]

On 2/23/2024 at 1:40 PM, Renskedejonge said:

I disagree. My dad didn't spend a cent on himself.  My sister gave him money for his birthday and he was so happy. He bought himself 2 pairs of shoes. He said: This is the first time in my life I have 2 pairs of shoes! He had 10 thousands in savings. My mom got so many shoes from him. She said: please stop buying them. I have enough. He was always very generous. Gave me money for the kids to go do something fun. Yeah maybe he was miserly to himself. For years I ate bread with cheese for dinner and the money I saved I spent on toys for the kids. A kid from 2 rich parents was jealous LOL. We gave him some stuff. They had a big fat house, big fat car, mother went on a holiday with her friends, but he didn't get a fidget spinner and my kids got several of them.

Oh my uncle. He was a farmer. Small farm. Had to sell it for a new road. He had a load of money then. He gave everything to the good cause. He ate baked onions for dinner and the cheapest stuff. He lived really cheap and gave thousands to good causes all the time. His son is a millionair and has cattle for fun and splurges money.

Some people even after acquiring a vast sum of money still prefer to live as they always have. No need for a fancy house in an upscale neighborhood or a flashy car upholstered in the latest fashionable textile.  A good  ol' pair of canvas sneakers and OshKosh overalls will do.

[Sower]

On 2/22/2024 at 9:09 AM, Neighbor said:

Hi I wonder when does being frugal become miserly?

Perhaps you may get/watch the movie,  Scrooge.  
Frugal/cheap = miserly (a person (miser) who hoards wealth and spends as little money as possible)