How do you do it?
I find myself willing to spend a little more for comfort, quality or convenience.
It has been creeping up. How do you frugal people do it? Do you save a lot of money?
How do you do it?
- New SadLiifeIn my experience most frugal people have had some sort of financial trauma in the past and really want to avoid reliving it. Aside from that there are just people that really want to retire and have the discipline to ignore materialistic things and save. Personally I want a house.
- I put up with a lot of shit because I’m young and I can. I could spend more on rent in a luxury building instead of living in my shitty walkup here in NYC but I don’t mind some inconveniences in life. It keeps me from getting buttered up and fat, body and mind wise. It keeps myself relatable to the life of other young people near me.
There’s pretty much no social benefits to spending a lot when you’re young since everyone just thinks it’s your parents money. I also like to keep special occasions special, so while I could eat delicious high end food every day, I choose fast casual restaurants as a treat while mostly cooking dinner at home so I don’t spoil myself too early in life. Just living like a normal millennial I guess.
So it’s more like minimalism and keeping down with the Joneses. It might also be because I didn’t meet any other well to do friends yet.
- it will help you save if you cook your meals. my grocery expense is around 300USD for the whole month.
i would cook a big batch on a sunday (let's say ground beef) which will serve me for until thursday. then i would cook again on thursday so i have two meals in a week i can switch up. from sunday to thurs i can revise that meal to a picadillo, or put it on a taco, or add it on my pesto pasta, or eat it mixed veggies. that ground beef only cost 5 USD.
and here in nyc if you eat out. at a minimum one meal will cost you 12USD
you can make inexpensive meals out of chicken, beef, pork.
my biggest expense is rent at 1700. then i save 4000-4500 per month. then on top of that my 401K and ESPP. in a year i save about 48K + the yearly bonus + others
my base is 175K
- yeah i know. our fresh grads in SFO are getting 130K offers those people start as level 12 and tag along w/ seniors on their first few projects.
i still do delivery and lead on some of my gigs.
i came from h1b and just got my GC last month. end of this year i'm going to quit and get my TC up somewhere
on cosulting companies like accenture.
when you become a managing director you start to do more salesy tasks and less hands on technical delivery. all you care about at that point is meeting your quota because that also affects your compensation as MD
level 5 and 6 are sweet spot. but given my TC progression. the only way i can double that is to move to FAANG
- Frugality is about figuring out what you need and existing within the confines of that.
Earlier in my career I made a point of making a budget, beating it and then cutting my budget for the next year to what I spent.
A dollar saved (AND INVESTED) is the key to FIRE tomorrow.
This came in handy during the uncertainty of 2008 and allowed me to pool reserves for strategic purchases while lenders were scared shitless.
It also helped a lot with avoiding hedonic creep.
Finally and most importantly, I credit this with me weighing the same as I did my senior year in college. Not many people can honestly claim that (especially not techies).
Now in my later years, I keep a splurge list that I use to reward myself for worthy efforts, milestones etc. it tends to be on the experiential side though and less on purchases.
- Snapchat boohpoFor me being frugal is about retiring early and spending more time doing things I enjoy more than work (I do love working). My mantra is that everything is relative. If you drive a fancy car, it will be very hard to go to a lower end one in the future. If you get bottle service at clubs all the time, you will want to keep that status with your friends in the future as well. If you start at the four seasons when you travel, you will never be fine staying at a double tree.
If you want to retire early, and then be able to enjoy life during retirement without needing 10s of millions, make sure you are not leap frogging on your standard of living. It's easy to do so when you get paid the types of salaries in tech. Be disciplined, and don't increase standards too much. That doesn't mean you should live like a poor person, enjoy life, splurge once in a while.
Now when you retire, you can continue to live that lifestyle of slowly increasing standards and you will be happy.
Remember, there are people that make way less and live under much harder circumstances than most of us, but are way happier than us. Money is not everything, it's your mindset.
- Oracle OlJs40all poor people are frugal. They have no money. Go ask the amazon warehouse workers or people at walmart or mcdonalds how they do it.
I have saved most of what I made for the last 15 years+. I want to retire young. My mutual funds have gone up by more than I have put in them.
- For me is mostly that I cannot relate with the people that spend a lot. Be that contemporaries that earn as much as me or insane rich people. I care not for expensive cars, clothing or high end restaurants to name a few things. And I've tried them all, I just feel the roi is shit on the highest end. So I indulge on it only once in a while.
For the rest of stuff is about how much extra quality or comfort you get, compared to the price increase. You can easily reduce costs by thinking how much of a scam something is.