I'm quite private about my finances, but my closest friends asked me how I save over 50% of my $ without being very consciously frugal. They found my answer interesting, and one of them suggested I post here (she is a frequent lurker). My Answer: Weird habits, Dietary restrictions, Upbringing, and (above all) Luck.
About me: In my mid-twenties. Fortunate to have no student debt & be in good health. Career in a lucrative field in Canada. Currently saving to buy a nice first investment property; declined family offer to gift me the $ for it.
Inadvertently Frugal Habits:
i) I only drink water-- and I drink a LOT of it (wake up in the morning by drinking a large glass of cold water-- no coffee). No other beverages at all. Prevents over-eating too.
ii). As a corollary of (1)-- I save a lot of $ on alcohol & coffee, considering I abstain completely from both (not for religious reasons. Just never bothered to start).
iii) Very rarely eat pre-packaged foods due to dietary restrictions. Eat mostly fresh foods.
iv) I re-purpose clothes because I'm environmentally-conscious. Old clothes become pyjamas. Once they have holes or become otherwise un-wearable, I cut them up into cleaning rags.
v) Don't buy things that are readily available for free-- eg. pens. Businesses give out free pens everywhere; there's never a good reason to buy them at Office Depot!
vi) The past year or so, I've taken especially good care of my skin. I've never been a foundation-wearer anyway, but now I've ensured I will not spend tons of money on makeup in future years (just buy a mascara and lipstick).
vii) All my work-attire is high-quality and made to last. Eg. I have a YSL dress passed down from my mother that still looks perfect after 8 years. My recent Lagerfeld, Burberry and Vera Wang purchases will also last a lot longer than anything I could buy at H&M, and are a better cultural "fit" in my workplace.
viii) Most of my socialization is exercise-related; I'm especially addicted to running. Some of my friends are the same way. Costs nothing.
ix) (Related to #9)- I don't drive at all. I live near downtown, and run/walk everywhere (I treat it as marathon training). I also use the 2km trek to the grocery store as extra weight training. This turns chores into enjoyable workouts.
x) Still use my iPhone 4 for all non-work-related functions; it's still in perfect condition, all these years later. I've never had a data plan and didn't use text messaging until 4 years ago. The phone was free with my plan ($20/mth) and has been off-contract for the past couple years.
Overall, I don't buy anything I don't need. I suppose I've never enjoyed spending $/buying things anyway. Besides buying property (a good investment where I live), I can't think of anything I'm aching to buy anyway. Most of my happiness has always come from my education, career and relationships.
I realize I'm lucky to have enjoyed a privileged upbringing, but my parents made an effort to show us all the poorer areas of countries we visited as children so we could understand the value of money. My dream is to use my financial stability to raise both biological and adopted children someday-- that's the ultimate goal.
Anyway, I hope my post will be uplifting to those who are on r/frugal out of necessity; living frugally isn't necessarily uncomfortable or unhappy! :) It can be a very normal way of life. Looking forward to joining your Reddit community.
March 05, 2017 at 07:49PM
