Tuesday, August 30, 2011

We're Frugal, Not Broke!

Over the past couple of weeks, our families have made comments about being worried about our finances.  I find this kind of odd considering we are in the best financial shape of our lives!

I think that the reason our families may be worried is because we are so incredibly frugal.  OK, lets be honest here, we may appear to be flat out cheap.  However, we have learned that “cheap” is not always the way to go and we are now consciously making financial decisions based on not only price, but quality as well.

For instance, when we bought our home, we needed a chainsaw due to the amount of trees that needed to come down on our property.  Todd bought the cheapest chainsaw that Home Depot had to offer at a little over $200.  It leaked oil the first season of ownership and there was always a problem with it that Todd had to work on.  Todd bought a new chainsaw that is much higher quality, has a warranty and even came with an extra chain and carrying case for only $150 more than the one we bought from Home Depot.  If it lasts any more than 4 years, it will be a purchase well made.

When we bought our home in 2007, we were b-r-o-k-e.  The repairs that Todd did to our house were done as inexpensively as possible, and we are now paying for it because of the amount of projects that will have to be re-done over the next 3-5 years.  Lesson learned.

We buy our clothes from the thrift store.  The main reason is not because we are cheap, it’s because we are both terribly hard on our clothing.  We are both pretty bad about getting stains on our clothes that don’t come out.  If it’s not our own doing with the stains, it is our horrible well water that discolors our clothing.  We don’t see the sense in buying a new t-shirt or sweater for $10+ when it will be turned into rags over the next year or two. We aren’t the type of people who have the same clothes 5+ years down the road.

Our entertainment includes dollar movie theaters, making our own wine, driving around to look at scenery, visiting friends/family and eating out at restaurants that we know we like and are inexpensive.  Our vacations are inexpensive and focus on experiencing the area, not how much we spend along the way. 

It may appear that we are penniless because of the way we choose to spend (or save) money, but we are far from broke.  We are extremely fortunate to be debt free (except our mortgage), have a small emergency fund in the bank to get us through any unexpected expenses, and we plan for everything else beyond that. 

Do you find people tend to think you are broke because of your frugal ways?

This post is linked up with Mama Dani's Flutter by Friday Blog Hop

1 comment:

  1. While we ARE currently fairly broke, the frugal lifestyle we're adapting now is one I have no plans of changing once our financial state does. The way we lived before led to where we are today, so why not do everything we can to NEVER get back there?? Even though I can't (currently) identify with your post, I loved it!