Anonymous wrote:

Anonymous wrote:I started heavily investing beyond just my 401k about 4-5 years ago when I had some extra cash due to covid shutdowns. Its become such an ingrained habit to track every penny in my investment accounts that ive become really cheap when it comes to spending. All I think is how much that $7 cup of coffee would be worth in 20 years in my brokerage account.

Lmao, your $7 coffee would be worth $27. Buy the damn coffee if you want it.

If you drink it every day, we are talking a six figure difference in net worth.

Anonymous wrote:I started heavily investing beyond just my 401k about 4-5 years ago when I had some extra cash due to covid shutdowns. Its become such an ingrained habit to track every penny in my investment accounts that ive become really cheap when it comes to spending. All I think is how much that $7 cup of coffee would be worth in 20 years in my brokerage account.

Lmao, your $7 coffee would be worth $27. Buy the damn coffee if you want it.

I’m differently balanced. I won’t go to Starbucks, DoorDash or buy expensive new clothes (yes to consignment though). But I’ll plunk down a lot to take the family skiing.

We take a balanced approach. I think we spent $1K on coffee last year which was maybe .001% of our HHI? I’m not going to sweat that, it’s basically a rounding error. But most of our clothes come from Target and Marshall’s, we share 1 car, our mortgage is less than our HHI, etc. We save/invest something like 60% of our income post tax (taxes take a big chunk too). No plans to increase lifestyle until we hit our goal savings # at which point we’ll let up a little.

I started heavily investing beyond just my 401k about 4-5 years ago when I had some extra cash due to covid shutdowns. Its become such an ingrained habit to track every penny in my investment accounts that ive become really cheap when it comes to spending. All I think is how much that $7 cup of coffee would be worth in 20 years in my brokerage account.

Anonymous wrote:I suddenly became cheap once I reached 100k in my HYSAs lol. It helps that I am single so I don't have to worry about taking anyone on dates and now I definitely don't want to get into any relationship. I just need to send monthly child support payments to my ex. But holy cow, I just drove by Starbucks and I was like nope lol. I automatically thought about my balance going down.

Is it just my cheap a** or do we become cheap as we save more?

You can’t out cheap me sir. Wfh from 2020-2025 grew waist length hair, cut Starbucks, leftovers for lunch every day, no nail salon. Incredible savings.

I hear what you’re saying OP. I love saving money and I love seeing it grow and ultimately work for me. I’m conscious of what I spend but I don’t think “cheap” is the correct word. I prefer to think that I “hate wasting” money.

OP, learn to invest right next to learning the guitar. My kids have investment accounts and know all about investing.They wouldn't sit on cash that loses purchasing power.
Investments replace earned income at some point and are also taxed much lower than EI.
There is no reason for a separate account for her that loses money.
Get the finance books and start learning. That's love.

Keep that money girl!

I am feeling that way too. It’s so backwards. I should’ve been more frugal before but now I understand money and compound interest and I’m more frugal than ever! I’m also older so my needs are simpler and more boring anyway.

OP here. I wasn't necessarily a big spender but I wasn't someone who watched where every dollar went either. It wasn't until post divorce when my standard of living completely changed, moved to a small apartment, sold my new car for a used one, started cooking once a week and freezing food, bought a guitar and learned to play instead of going out with friends and drink etc that I started saving a lot. And then I woke up today and saw that $101k, and I was like wow how can I save even more.

I enjoy lifting weight and honestly that's enough fun for me at this point. I hang out less and less with my guy friends because all they do is drink every weekend and I don't even drink. Hey at least I can now learn to play my favorite songs with my new found hobby while I grow my financial assets. And learning the guitar at 43 is so hard, but it's fun.

I am not cheap when it comes to my daughter though. I have a separate account just for her in case she asks for things I didn't plan for. She is great kid with good grades and very polite and respectful. I really love her. So I am not going to find savings when it comes to her.

Yes, DH was a big spender/big earner until he realized he could stop spending and retire early, which he did last year.

I think you are on to something. I've never been a spender, but my need for shopping completely disappeared when my net worth skyrocketed in 2020-2021 because of investments. It was like a new interest or hobby took over.

It's a mindset shift. Growing your savings is more important than the momentary enjoyment of Starbucks. Plus, it's hard to feel like it's worth $3.80 for a tall regular coffee. I went in for the first time in a couple years and was shocked. It was really $3.80, and it wasn't that long ago when I could get a coffee and breakfast sandwich for $5. No thank you.

I suddenly became cheap once I reached 100k in my HYSAs lol. It helps that I am single so I don't have to worry about taking anyone on dates and now I definitely don't want to get into any relationship. I just need to send monthly child support payments to my ex. But holy cow, I just drove by Starbucks and I was like nope lol. I automatically thought about my balance going down.

Is it just my cheap a** or do we become cheap as we save more?