What motivates you to be frugal?

[Anonymous]

Not sure if "motivated" is the right word. We're frugal by default, too busy to spend any money and don't care about high end cars, clothes, houses, purses, etc even though we can easily afford it.

[Anonymous]

Facing a more than 40% cut in income. That was a huge motivator. Now that things are slooooooooooowly getting better, I dont want to go back EVER to spending money just because its there.

Had we saved money by being frugal, we could have had a nice cushion and felt less panicked when the economy tanked.

I also just on principle dont like the bullshit of monthly charges that are not competitive or fair. Im cut out all TV and STILL pay too much to comcast for just phone and internet.

I may go to Verizom whom I loathe just to stop paying way too much to Comcast!

[Anonymous]

I rarely go to the mall but I had to today to get my son some basics for school, and when I am at the mall I always see all the people there just buyng stuff like crazy and lots to stuff that is way overpriced. And I think to myself, I know that lots of these people here at the mall are spending beyond their means and their budget, and some of them are probably earning far less than me and I start to worry becasue I know how I budgeted and planned just to purchase these basic school clothes. I get this really irrational impulse to run up to some of them and say -- "wait, what are you doing, you've got to know you probably can't afford this stuff right?!?" And then I think about how many people are just running up their credit card balances, and how this can't be good for all of us. It's a bit much, right?

So, anyway, yes, I guess, as a PP had said, it's just my instinct to be frugal. I overthink it, my husband says, but he is glad ultimately that I am frugal, but it sure takes the fun out of shopping and the monthly grocery plans.

[Anonymous]

I want to work part time when the kids are in middle school and high school. I am the primary earner.

[Anonymous]

Anonymous wrote:my parents were not frugal, even though they made a decent middle (and at times upper middle) income for most of their professional lives, and now have very little of an accumulated nest egg to show for it. I am an only child and feel a sense of responsibility to help them in their old age now that they are retired (luckily my mom has a good pension with cost of living adjustments).


We also went through a period when my father lost his job (after the 1987 Black Monday stock market crash) and had to cut our living standard essentially to 1/3 what it originally was. He was eventually able to find work again, but at a completely different level of compensation. Luckily, my mom's job kept us going, but we had to sell the house in the suburbs, and move to a 2 BR apt. That had a big impact on me.

So I guess my frugality is a reaction to both of those things. Having a large savings cushion is a security thing for me. Also, will always live below our means, in case one of us loses our jobs. We purchased a house affordable on one spouses income only. And even though we could afford for me to stay home with the kids, I can't see myself ever doing that, because I want to maintain the ability to support the family/myself in case of divorce/husband job loss, etc. We clip coupons, drive a ten year old car, brown bag lunch 90% of the time, don't shop high end fashions/beauty maintenance, cook at home, don't outsource housecleaning, garden services, etc. We are saving and investing 50% of our take home pay, which makes me happier than a Prada bag could ever do. But we spend on private school for the kids, and lots of kid activities and good, but not lavish vacations. Since my husband and I both didn't grow up with a lot of money (just middle class, not dcurbanmom "middle class", we already feel like we're doing better than our parents and feel quite satisfied with our quality of life. It doesn't bother me that we don't have fancy house or cars that other people in our peer group expect us to have, based on our income/professional status. HHI: 750K, equally split.

Wow, PP, that is a great story. Thank you.

[Anonymous]

fear of not having enough for retirement; fear of one of us being too sick to work; fear of not being able to afford college for our kids.

[Anonymous]

Anonymous wrote:I grew up with depression era parents.

+1 It was a different mindset, and affects that generation's outlook on money to the present day.

[Anonymous]

Frugal - my dad died and left my mom and me penniless at 15. My mom was SAHM and had to go back to work- this was the 1980s= not used to working and she was June Clever-ish, but now I still watch my pennies. However, my husband and I are divorcing, so I bought a house for my daughter and me...scary.

[Anonymous]

The example of my parents and grandparents. I would sooner take a broken computer to the repair shop than buy a new one, same for my old, 100K miles cars.

[Anonymous]

A combination of things for me:

1. Religious beliefs. I should live for the spiritual, not the material. Even in a non-religious sense, I think it is good to be happy with less.

2. I don't want to be without money when I really need it i.e. house downpayment (we have a house now but that motivated me at first), retirement, health crisis, childcare expenses, general emergencies.

3. My parents were frugal. It bugged the hell out of me as a kid. But I think it influenced me subconsciously. Also my husband is frugal.

4. It satisfies some of my calculating, planning urges.

5. Habit, at this point.

[Anonymous]

Anonymous wrote:I want to work part time when the kids are in middle school and high school. I am the primary earner.

Don't you think working PT was more important when they were younger?

[Anonymous]

My student loan debt. Was never frugal before law school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I want to work part time when the kids are in middle school and high school. I am the primary earner.

Don't you think working PT was more important when they were younger?

NP here. Good to be around when that age because that's the age when they can get into serious trouble if left to their own devices in an empty home (not knocking the working folks who can't afford to be at home during this age).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to work part time when the kids are in middle school and high school. I am the primary earner.

Don't you think working PT was more important when they were younger?

NP here. Good to be around when that age because that's the age when they can get into serious trouble if left to their own devices in an empty home (not knocking the working folks who can't afford to be at home during this age).

It's also good to be around in the formative years, especially when they can't talk and are defenceless.

[Anonymous]

security
desire for time with family, not material items
the high of frugality & efficiency