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Started by Hayden, September 24, 2018, 12:00:19 PM
Quote from: Bonsai on September 24, 2018, 12:07:18 PMOne way to determine a distinction is a "needs" versus "wants" analysis. This is still pretty subjective but an easier analysis for me.
Quote from: Hayden on September 24, 2018, 01:16:38 PMQuote from: Bonsai on September 24, 2018, 12:07:18 PMOne way to determine a distinction is a "needs" versus "wants" analysis. This is still pretty subjective but an easier analysis for me.I find that analysis to be ineffective when you want to spend some money on yourself and you have to go on the basis of it not being a need. We buy things all the time that are wants and not needs. How does that analysis help you break the difference between being frugal or cheap?
Quote from: Jbinjville on October 24, 2018, 06:24:34 PMI didn't mention but should have. We don't borrow (my rule) for anything other than real estate and currently our house is paid off so zero debt. always (other than your house) don't borrow money. we use credit cards but pay them off 100% monthly at due date. I've never and will never have a car payment. I feel that if you can't save 100% for a car, then you can't afford it. (thank you Dad). I know this is weird now, but I think it's smart. buy used, with cash. go functionality, not style. at least until you're really rich, which I am not at this time. Kids and college may be a different story for debt. Our worst case scenario is my wife and I pay 1/3, each kid pays 1/3, and they can borrow 1/3. we have 5 years before the 1st kid enters college - we'll see. good grades are essential.I'd call this all frugal, not cheap.