Frugality

[USAFpj]

Can someone help me to understand the difference between being cheap, and being frugal?:laughing:

I absolutely love my 65yr old Dad, and he has been gracious to me in the past to give me some of his acreage$$$ without any expectations or hesitation. However, there is not an item on this green earth that he doesn't think is "too expensive". We have a great relationship, but it does not matter if its taxes, boots, ammunition, gasoline (he will drive $4.00 worth of gas to save .02 cents/gallon). He will then bust my b@llz if he finds out that I didn't do the same!

I say all of this in jest, but I really do wonder, psychologically, where that stems from? I am his polar opposite, however- I believe if you do your research, that quality goods cost quality money. If the old man knew I was thinking about a new Kubota M59, he'd lose his mind

Anyway- let me ask you 'thrifty' guys out there- what makes a person so concerned and critical with the price of EVERY good out there?

 

[oosik]

Well - at 77 I'm older than your Dad. I usually will spend the needed money and go for quality. A couple years ago I woke up one morning and realized - there is NO WAY I will be able to take it with me when it's my time.

With that in mind - I just dropped $60K on a new 2018 Ram Power Wagon. I've always wanted one and I'm pretty sure I better get it in the here and now. Doubt there will be anything like it where I'll be going.

Maybe your Dad knows something that I don't.

Chances are that your Dad isn't going to change his way of thinking - it will be up to you to learn to live with his concerns.

My next door( lives 4.5 miles away) neighbor is a BIG cattle rancher. He could afford to buy new. HOWEVER - he has always bought used equipment and fiddled with repairs/replacement for the 38 years I've known him. WHY??? WHO KNOWS............

 

[USAFpj]

With that in mind - I just dropped $60K on a new 2018 Ram Power Wagon

Nice truck! And the frugalness in me still drives my 98 Dodge Ram 1500:laughing:. Matter of fact- I'd place $60K into his/our land even before buying a pickup. But if I find out the 'going price' is around $60K for the specific object, well, that's what I pay..

Dad is definitely more patient, but if I make up my mind about something, I do it. Haven't regretted it yet..

 

[Diggin It]

I've been known to squeeze a dime hard enough to get three nickels out of it.

On the gas thing, I've done the same. It can be about principal. There are some places I will NOT buy from, no matter their price. Wally World is one. I drive past them all the time to go to stores miles further on. I don't care if Wally is 90% less.

I've never bought a new car and never will. I've never bought a new house and never will. This tractor is the first new big ticket item I've ever bought.

I believe if you do your research, that quality goods cost quality money.

I believe if you do your research, that 'quality' goods are more about perception of brand name recognition than a real difference in product quality. I found that orange and green paint added a lot to the price without really adding much else. Craftsman tools of the 1960s, 70s and into the 80s may have been better quality than other brands, but what about Craftsman tools of the 2020s?

 

[USAFpj]

I believe if you do your research, that 'quality' goods are more about perception of brand name recognition than a real difference in product quality. I found that orange and green paint added a lot to the price without really adding much else.

Hmmmm. Will definitely have to ponder that one for the future. That's also what is interesting. Principle. I know a guy that can tell you the immoral political leanings of every major business in a community, but guess where is the first place they will spend their money if its the best deal..

 

[4get gto]

Don't you believe it's a little about the generation we grew up in. There's nothing frugal about today's generation. College loans up the kazoo, 5/6 credits cards going on at one time. Think nothing of having a 300k house and a 50k car payment.
Living for today not tomorrow. Today's thinking is instant gratification. OP's dad was just brought up in a different world..!

 

[USAFpj]

Definitely a part of it! But let me say that when you announce that you're giving another Grandchild, the comment shouldn't be, "that's a lot of college money"

And if we compare paychecks and retirement income, the frugal isn't getting them very far...

 

[4get gto]

Definitely a part of it! But let me say that when you announce that you're giving another Grandchild, the comment shouldn't be, "that's a lot of college money"

And if we compare paychecks and retirement income, the frugal isn't getting them very far...

LOL....not sure what to say now...!

 

[USAFpj]

But he can make fun of himself, too. He told me one time that "I've held a penny hard enough to make Lincoln holler."...

Love my old man..

 

[oosik]

I grew up in - basically - the same era as your dad. Just ten years earlier. Now my parents........ they both lived thru and saw the great depression. My parents saved and scrimped and built a new house with the money they saved. A beautiful big ranch style home in Ea WA state - not too far from where I live now. When their house was completed - they owed nobody a red cent. That's the same way we did with our house here. When the house was completed, we owed nothing to anybody for the 80 acres nor the house. Same as I did with the Ram Power Wagon. I will scrimp/save and pay cash on the barrel head. It's just my way of life.

Doing things my way gives a guy a LOT of time to think about any future purchases.

 

[Alan W.]

My dad turns 80 this year. He will be crazy frugal on most things. But then there is his motor home and car and nothing is good enough for them. Moms the same way.

It drives him crazy that we spend money on things we like. Then he will turn around and tell me I should put Michelins on my old ranger instead of the cheap goodyears from walmart.

 

[Citydude]

For me, being frugal is living within your means and having a monitary retirement strategy while your working. When I retired, I became cheap. I cant explain the change but I did have grandparents that lamented about the great depression who scrimped and saved. It must have rubbed off on me.

 

[ruffdog]

Inflation......in 29 years the cost of living went up 95.5%. For a person with some gray in their hair, we can't understand where the value of the dollar went. Someone buys a 1500 truck for $60k....is it really worth that much? How many hours did us gray people have to work to net $60k and do we drive enough to think that is a good value? I started saving for retirement when I was a teen and I'm glad I did. Just because the retail price for an item is what someone else is willing to pay, it doesn't mean that is what I'm willing to pay.

Inflation Calculator | Find US Dollar's Value from 1913-219

 

[cqaigy2]

I've been known to squeeze a dime hard enough to get three nickels out of it.

On the gas thing, I've done the same. It can be about principal. There are some places I will NOT buy from, no matter their price. Wally World is one. I drive past them all the time to go to stores miles further on. I don't care if Wally is 90% less.

I've never bought a new car and never will. I've never bought a new house and never will. This tractor is the first new big ticket item I've ever bought.



I believe if you do your research, that 'quality' goods are more about perception of brand name recognition than a real difference in product quality. I found that orange and green paint added a lot to the price without really adding much else. Craftsman tools of the 1960s, 70s and into the 80s may have been better quality than other brands, but what about Craftsman tools of the 2020s?

I had to double check to see if i posted this.

 

[USAFpj]

He has worked a lot, and hard, for most of his life. At 64, I felt bad for him because he was working 12hr shifts for 6 days a week as a machinist. No sitting down for him for most, if not all, of his shift. He would leave the house before sunup, and come home at dark. He did this for years.

I told him that's no way to live, and that he would work himself into the grave. I asked him if he had a choice, would he take the time off, or have the money(overtime)? He didn't hesitate to say money with a smile on his face!

I reckon I'm different..

 

[Industrial Toys]

Much has to do with manifesting ones reality. Many people never have money, because that is what they want, and they get what they want which is wanting money. Believe you already have it and you won't probably want for money, ever.

My Father and I are at great odds about money. He has lots of money but dumpster dives for old bread and collects beer bottles out of peoples garbage in his upper middle class neghbourhood. A lady came out and offered him money, which he declined, saying he has plenty. Too funny. But to me, in the grand scheme of things, ten cents here and there won't make a bit of difference. I think to him, it's like money put out to the garbage, but he has lost a sense for how little it's worth. And more of an obsession.

 

[bunyip]

I won't buy cheap if it is not going to do the job, same with food items that just don't taste right, cheap clothing has let me down or just doesn't last, shoes don't feel right or hurt after a while.
And if I don't have the money I wait until i do.
So many people have credit cards to maintain a lifestyle, I have one so i don't have to carry cash but pay it off so have never paid interest but benefit from the points accumulated to buy that bottle of single malt i love.
My late ex was up to her *** in borrowed money and lost everything....... twice then tells me I am lucky, can't figure that one out.
Don't gamble or smoke, enjoy outdoor cooking which is cheaper than eating out and probably better.
is this frugal or just plain careful of where my money goes.
Wife says always turn a dollar in your hand twice before parting with it which I suppose is the same as the saying, a wise man has a pipe to give him time to think, a fool something to put in his mouth.

 

[RustyA]

To me frugal is buying the best quality stuff you can afford to pay cash for and taking good care of it so it lasts a long time whether it's tools, vehicles, lawn mowers, etc. Cheap is buying the least expensive version of anything and crying when it's junk in a year or two. Frugal people plan and save up of what they want and make it last. Cheap people end up spending more money in the long run whether it's equipment, tools, chainsaws, etc. When I buy something it's not always the price but the value for the dollar, cheap people just want the cheapest thing that accomplishes the task for now.

 

[USAFpj]

Wow, Industrial Toys, that speaks volumes...

 

[Industrial Toys]

There is volumes to tell, if people would just put their Egos aside and speak the truth. Open and honest. Most live behind a facade. Can you imagine a world where no one would care what new truck at what trim level the Jones just bought, Err, I mean paid zero down on?

I don't equate "cheap" with buying poor quality stuff at all. To me, cheap means more often selfish.