Miserable Misers

Mantra: Frugality is our rake to bring in more money so we can invest it and make more money!

One does not need to be a miserable miser. Live a little but within reason. That means you are allowed to spend but only for the things you use daily and will get a lot of use and value from.

Ketchup example: Squeezing the pennies

If you are being frugal should you buy the name brand ketchup for $1.99 or the store brand for $1.59? The store brand is a much better deal and you save $0.40. Good. However that store brand one doesn’t taste as good and it lasts six months. So your savings of $0.40/ bottle is spread over six months so your savings of $0.0022 cents per day is so not worth it! Don’t be cheap! Find some place else to cut that amount.

This is why I don’t buy generic coffee or beer or soda etc. Just consume less of what you like and buy at a discount. That doesn’t mean you are allowed to swill Dom Perignon Champagne rap video. Your budget is a more moderate $10-15/bottle such as Bare Foot, Chandon, St. Michelle, Korbel or even Andre. You can have champagne tastes but there is a beer budget! Technically all of the above are sparkling wines not champagne anyways as only real champagne can come from the Champagne region of France.

Cost per use calculations: Do them

Iphone XR 128 $799 when new but plan to use it for hours a day for three years just like the old 6 model. Cost per day is very low. $0.73 per day which is nothing for something I use constantly. That’s a good value to me. For grandma maybe not.

Nice watch for $600. Used It every day for last eight years. Daily cost is $0.20/day.

$15 Armani Deodorant: Spendy, sure. However given it lasts a year that’s $0.04/day. Get what you like and skip the frivolous spending instead.

Power boat: cost per use $500-1000 or more when factoring in price, storage, gas and limited usage. Bad deal.

RV or trailer. Cost per use versus staying in a hotel or Air bnb. These usually don’t pencil out. See my post on this topic. Bad deal.

So don’t spend on stupid things and only on the things that you truly value. We want to be frugal and wise about our money not just be stingy and cheap. Just like the millionaire next door versus the guy that is going to get foreclosed on in the next recession. Not scrooge either. There needs to be balance.


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