What Started You On Your Frugal Path?

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Beverley
Posts: 553
Joined: Fri Oct 09, 2020 11:33 am

Re: What Started You On Your Frugal Path?

Post by Beverley »

A long story. In the mid 1990's a neighbor showed me a book she had bought, Volume 1 of the Tightwad Gazette. I was intrigued and borrowed it from her. I read some of it and returned it to her. Iii did a little tightwadding but not much. As time went on DH and I both became unhappy with our living situation. The house we were in was too small and DH hated the neighborhood. I bought Volume 1 of the Tightwad Gazette and read it voraciously. After reading it I started implementing some of the ideas. I told DH I thought we could save $500 a month (this was in 1997). He thought I was nuts. He and the kids made fun of me but I prevailed and met the challenge. Ii did this by not driving to work and taking the bus instead. As it turns out the State subsidized mass transit for its employees to discourage driving in so it was basically a free ride to work and back. I contacted our insurance company and told them what AI had done so I was able to get a savings on my insurance.

I took over the grocery shopping and used coupons with sales like crazy (this is when mfg coupons were for items one could actually use). I started going to thrift stores for all out clothing. I washed baggies. When we realized we could afford a larger house in a better area I started fixing up the house like a madman. I did everything myself instead of calling in repair people. If I did not know how to do something I asked around. I figured things out. Did a lot of physical stuff I am unable to do now. I found a realtor who had success in selling homes in our neighborhood and worked with her. Three months later the house sold and we were moving into the house I have now.

About three years later I refinanced my house for a better rate and paid off all of our outstanding debt. When it came time to repair and replace in this house I again did as much work as I could. I also took out a couple of credit cards and manipulated them to get the best deals. I paid cash for all of my laminate flooring and did all the installation. I painted. I scraped the popcorn off of the ceilings.

During this time our state governor got this bright idea of threatening to withhold our pay every summer if a budget was not passed by July. I did not want to take out any loans if this happened so I made it a habit to sock away as much money as I could for the first six months of every year. Then when the budget passed I would use most of my savings to pay for a large home project (i.e. my flooring). I did this for about 5 years. Then we got a new governor. This one decided to furlough us three Fridays a month. Since at that time our agency was controlled by an elected Board the furloughs did not apply to us. I did however take 2 furlough days because I could afford to. This move assured my I could indeed retire comfortably at age 60. That was good because I was looking after my mom at the time and she gradually needed more care.
(to be continued)
Beverley
Posts: 553
Joined: Fri Oct 09, 2020 11:33 am

Re: What Started You On Your Frugal Path?

Post by Beverley »

Actually I netted a little more post retirement because I was eligible to collect a survivor's benefit from SS. I was able to collect that and my retirement until age 66 at which time I applied for my own SS which was more.

I have always paid my credit cards in full every month. I even make a little money on them because I get 1-2% cash back. I discovered I could save $.50 a gallon on gas buying it from either Sams Club or Costco. DD and I share a Costco membership and DS and I share a Sams club membership.

I am fighting back at inflation. If something I need has gone up too much in price or is not available I get something else. I am very flexible when it comes to food. These days I eat less in general and definitely less animal products. My long term care insurance premiums have skyrocketed. I offset that by stopping my wine club memberships and tastings. I had subscribed to the Optivia eating plan and cancelled that too. I no longer buy wine since I am diabetic. My SS and pension are due for COLAs this next year. It will likely not cover how fast inflation is going so I do as many surveys as I can to offset that. I am also working part time. I have set a goal of paying off my house in 2 years, then I will be 100% debt free. I want to have the house for my kids. I think with my LTC insurance, my SS, and my pension I will have enough to eventually go into long term care if I need to without touching the equity on my house. I have a late model vehicle paid for that I don't drive that much so less gas usage.

Well that's it. Basically I have kept my eye on the ball. By thinking outside the box, no crazy spending and being content with what I have I am doing fine.

Bev
floridacatlover
Posts: 8056
Joined: Fri Aug 28, 2015 7:21 am

Re: What Started You On Your Frugal Path?

Post by floridacatlover »

Beverley wrote: Wed Nov 24, 2021 6:59 pm Actually I netted a little more post retirement because I was eligible to collect a survivor's benefit from SS. I was able to collect that and my retirement until age 66 at which time I applied for my own SS which was more.

I have always paid my credit cards in full every month. I even make a little money on them because I get 1-2% cash back. I discovered I could save $.50 a gallon on gas buying it from either Sams Club or Costco. DD and I share a Costco membership and DS and I share a Sams club membership.

I am fighting back at inflation. If something I need has gone up too much in price or is not available I get something else. I am very flexible when it comes to food. These days I eat less in general and definitely less animal products. My long term care insurance premiums have skyrocketed. I offset that by stopping my wine club memberships and tastings. I had subscribed to the Optivia eating plan and cancelled that too. I no longer buy wine since I am diabetic. My SS and pension are due for COLAs this next year. It will likely not cover how fast inflation is going so I do as many surveys as I can to offset that. I am also working part time. I have set a goal of paying off my house in 2 years, then I will be 100% debt free. I want to have the house for my kids. I think with my LTC insurance, my SS, and my pension I will have enough to eventually go into long term care if I need to without touching the equity on my house. I have a late model vehicle paid for that I don't drive that much so less gas usage.

Well that's it. Basically I have kept my eye on the ball. By thinking outside the box, no crazy spending and being content with what I have I am doing fine.

Bev
Great story, Bev, and very impressive! You made all the right moves. Congratulations!
Beverley
Posts: 553
Joined: Fri Oct 09, 2020 11:33 am

Re: What Started You On Your Frugal Path?

Post by Beverley »

Thank you! It's been quite a learning experience but fun! I still look for ways to be frugal and save money; I enjoy the challenge.

Bev
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