Mr.MoneyMustache then goes on to cover specific times being where being frugal is worth it. Each point has one main idea. Tradeoff. He mentions how its alright to spend on others as long you spend less on yourself and don't spend as much. He also says that being frugal is alright if it'll embarrass you and you font care but don't embarrass others. He also discusses how physical fitness is a good substitute for appearance and style since its cheaper. There are a few other things that he discusses but these struck out as the important and more affecting on my lifestyle.
I think that a lot of his points are very valid and are a very good way to save money. I appreciated the fact that he does not simply say "don't do this and you'll save money" instead, he provided things to do to replace the things that might cost a little more with things that are cheaper, or have other advantages. I also strongly agreed with his idea that frugality can mean buying something expensive, but if it lasts longer, uses less energy, and therefore saves you money in the long run, than its worth being frugal instead of cheap.
I like this idea, in fact I just wrote a comment on another post that says almost the same thing. What I've realized in college is that if you get nice things with a purpose, you don't ever need to spend money again. Basically, once you get going you can avoid all of the headaches and bills that come with cheapness. This is a great idea and he put it in a way that's very clear.
ReplyDeleteI think it is good to know the difference between these two types of people because it alows you to know the limit of frugality. What I take away from it is that if you get point where you care more about finding the lowest price for something is more important than what that thing is and how it works you are no longer frugal, you're cheap. I think that because Mr. Money Mustache speaks so much about ways to save money, creating this boundary was necessary.
ReplyDeleteI like how he establishes a difference between being frugal and being cheap. You can spend twice as much on something but still be frugal, the cost of maintenance of whatever it is as well as the cost to just use it. Buying energy smart is often times a great decision, although they cost more, they save money in the long run and allow you to still be frugal and inevitably save money.
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