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Started by rluks, November 24, 2018, 04:26:37 AM
Quote from: Sam on November 26, 2018, 10:41:43 AMMMM has done such a great job making millions off of promoting frugality. It's brilliant. I still remember consulting for a fintech company back in 2013-2014 and them telling me he was earning $30K/month from them. It is smart he didn't mention how much he mad back then, otherwise, I think the penny pinchers would have been totally turned off. What I've learned from a business perspective is that it's much more profitable appealing to the mass market e.g. everybody can save, not everybody can earn more by investing and starting a business.Hence, as I move into the second decade of Financial Samurai, I will be building up more mass market content and focusing on the basics of personal finance.
Quote from: CallieSF on November 26, 2018, 09:58:21 PMJust watched the video....OK, I understand frugality, but.....Y-U-C-K! As long as you live within your means, to each his/her own!
Quote from: Cheezus on December 03, 2018, 09:39:02 AMMMM doesn't have to be about extreme frugality. That's not even what he necessarily promotes or writes about. In fact, I find the writings more about being frugal without being "frugal" - ie. "frugality like not spending 100% of your income on a car". There is a lot of great information there and here and you can apply it to your life however you want. I think it's a good idea Sam is moving in to some more mass market stuff. No reason he can't still cater to the more affluent as well. And some frugality and reviewing spending isn't a bad thing regardless of income so the writings will apply to everyone.
Quote from: Young And The Invested on December 03, 2018, 11:10:37 AMI'm certainly not drawn to living life with every penny tallied and every indulgence passed. Sometimes I want something that hasn't been owned by someone else previously. But when it doesn't make sense to buy something brand new, I'd obviously opt for choosing that route.I think there's room for a healthy balance and living life the best way you know how. That means not eating out all the time but also enjoying some finer fare upon occasion, especially for celebrations or special events. Don't deprive yourself of life's joys. Just avoid being wasteful or spending on things which don't bring sustained happiness. All of this is easier said than done and requires intentional decision-making, of course.
Quote from: Cheezus on December 03, 2018, 05:00:09 PMYou do realize MMM and FS are very similar, right? And MMM has an entire post about when you should/shouldn't buy new and what questions to ask yourself before you do. And if you come out with "I really just want to buy new" at the end, that's perfectly fine. It's not a competition between these sites, both are useful and provide a lot of great FIRE information and strategies.