A contest for tightwads

[OrdinaryAvgGuy]

Brew beer, use the spent grains to make bread then sell the bread???

That's the spirit!

 

[Subsailor]

There is a fine line you have to walk between hording and holding on to items that may be useful in the future.QUOTE]

Yeah, that's the difference between me and one of my brothers. I have learned to say "OK, haven't used this in 2 years so it goes away" but like you I find that often, not every tiime, but often I suddenly have a use for that which I just pitched out or gave away.
My brother actually built a second garage to store his stuff in and needless to say, there has never been a car in that 2nd garage and there's no room left.

 

[OrdinaryAvgGuy]

There is a fine line you have to walk between hording and holding on to items that may be useful in the future.QUOTE]

Yeah, that's the difference between me and one of my brothers. I have learned to say "OK, haven't used this in 2 years so it goes away" but like you I find that often, not every tiime, but often I suddenly have a use for that which I just pitched out or gave away.
My brother actually built a second garage to store his stuff in and needless to say, there has never been a car in that 2nd garage and there's no room left.

I know quite a few people who park their cars in the driveway and store their goods in the garage.

A good friend of mine has a brother that hoards paper. Newspaper, junk mail, magazines, you name it. His house is packed full of nothing but stacks of papers and furniture with papers stacked in some places as high as the ceiling.

He has a narrow path from his front door, through his kitchen to his bathroom and ultimately to his bed - which he shares with you guessed it.. stacks of papers.

 

[Yooper]

I wonder how much of what we do is because of our parents. My parents were both raised during the great depression and were very frugal. Consequently I do not toss anything that I can reuse and when I do toss it I recycle. I grow food and can much of it for wintertime. I have no debt and refuse to buy anything I cannot pay cash for.

Most important I appreciate the things I have and do not look over the fence wishing I had a newer truck or bigger house. I am content with my life and what I got. For me that is the true meaning of life

Maybe that's a big part of the way I am.

When I was a kid, we had a small-ish house, but decent cars and a swimming pool. My dad was always pretty thrifty, so we lived within our means. But suddenly, the steel mills were closing and my mom was dying. We didn't lose our house or car, but we struggled a bit to keep afloat through her death. (Medical bills were big at that time, as "insurance" wasn't all that great).

My dad got a job as a mechanic at a bowling alley. He made about 1/2 the money, but we never went without.

My dad retired at 62, getting social security of $1200/month or so for the last 7 years but paying big health insurance premiums and deductibles until he turned 65 (and he had cancer at age 62).

When he died suddenly in January, he had $17,000 in his checking account. He had $30,000 in his savings account. He had $100,000 in a mutual fund. He had a new roof on his house, a paid-off car, etc. No debt. I know an estate of $250,000 isn't a lot- but for a guy who lived on $1200 a month for the last 7+ years, it surprised me!

He squirreled money away. He didn't live miserly- not at all! He just didn't want much. He had everything he needed, and everything he wanted. He was generous, but he didn't want anything for himself.

I think that is how I am. I have lots of things that are great- a house on a lake, a new truck, a new-ish car, a house in town, travel when I want, winter in Texas, etc. But if I didn't have those things, I probably wouldn't be any different than I am now.

I spend money on things if I want to. I just don't choose to do it on things I don't need.

I really do "reduce, reuse, recycle". I reuse just about everything that can be reused, and I don't redecorate my house and buy froo-froos. I don't buy new clothes.

I am self reliant as much as possible. I find that more satisfying than buying junk I don't need.

I don't get happiness from a new pair of shoes- but I get great happiness from paddling my kayak across the lake and watching the loons as I did today.

I have no debt at all, and never will.

 

[Jayhem]

I'll play.

True tightwad here!

Communications:

I'm 34 and have NEVER in my life paid for Cable or Satellite TV. Why start now? Plus I have no time to watch TV with all my hobbies I do to save more money!

Car payment

The last time I bought a new car was in 2002. I have not paid a car payment since 2007 and never plan to again!

Car insurance:

I have full coverage on my motorcycles but liability on the car. I have never gotten a moving violation ticket so my rates are super low. I pay $24 to insure 2 motorcycles (full coverage) and $50/month to insure my wife's 2007 Camry and my 2000 Tacoma (full coverage on each).

Health insurance:

Large deductible and only covers 3 doctor's office visit's per year. I pay about $120/month and that includes dental. Being healthy certainly helps me remain a tightwad.

Cell phone

This is the only thing I don't skimp on. I have a Galaxy S3 smartphone but that's because we don't have TV or internet so we have to do it all on the phone from mobile banking to email. I do not have a landline.

Utilities

Super stingy on this! Our central A/C has been busted for 3 years...we use a window A/C unit in the bedroom only in July-August and fans the rest of the summer. In winter we heat the house with a large woodstove and one small oil filled electric radiator in the master bedroom only. I also have a space heater I run in the bathroom in winter before showering. Usually the house is about 61 F all winter. I also cut my own firewood for free, never pay for firewood. Our electric bill runs $50-$80/month mostly from hot water heater use. I run CFL bulbs throughout the house so we don't have to skimp on light use.

Food

Aldi is where most of our groceries come from. For meat we buy 1/4 beef cow off our beef farming inlaws @$3/lb and that lasts us a year easily. I also deer hunt and usually put 2-4 deer/year into the deep freezer (100-225 lbs of venison)! My wife and I cook 90% of the time and go out to eat about once every 10 days.

Other

My wife also cuts my hair! I pee in the yard most of the time, I do all my own car maintenance and repairs, I change my own motorcycle tires, I grow my own vegetable garden every year, we make our own wine, I only buy jeans when my last good pair rips, I request clothes for birthdays and Christmas so I never have to buy clothes but once a year. I lived in a shack in my parent's backyard for 2 years until I could save up a 22% downpayment so I could have a lower mortgage and not have to pay PMI payments on the loan. My mortgage is $750/month on a $160,000 house! You can't rent an apartment for that around here!
We are trying to have a kid for the tax deduction! Ok, just kidding on that last one.

 

[OrdinaryAvgGuy]

Maybe that's a big part of the way I am.

When I was a kid, we had a small-ish house, but decent cars and a swimming pool. My dad was always pretty thrifty, so we lived within our means. But suddenly, the steel mills were closing and my mom was dying. We didn't lose our house or car, but we struggled a bit to keep afloat through her death. (Medical bills were big at that time, as "insurance" wasn't all that great).

My dad got a job as a mechanic at a bowling alley. He made about 1/2 the money, but we never went without.

My dad retired at 62, getting social security of $1200/month or so for the last 7 years but paying big health insurance premiums and deductibles until he turned 65 (and he had cancer at age 62).

When he died suddenly in January, he had $17,000 in his checking account. He had $30,000 in his savings account. He had $100,000 in a mutual fund. He had a new roof on his house, a paid-off car, etc. No debt. I know an estate of $250,000 isn't a lot- but for a guy who lived on $1200 a month for the last 7+ years, it surprised me!

He squirreled money away. He didn't live miserly- not at all! He just didn't want much. He had everything he needed, and everything he wanted. He was generous, but he didn't want anything for himself.

I think that is how I am. I have lots of things that are great- a house on a lake, a new truck, a new-ish car, a house in town, travel when I want, winter in Texas, etc. But if I didn't have those things, I probably wouldn't be any different than I am now.

I spend money on things if I want to. I just don't choose to do it on things I don't need.

I really do "reduce, reuse, recycle". I reuse just about everything that can be reused, and I don't redecorate my house and buy froo-froos. I don't buy new clothes.

I am self reliant as much as possible. I find that more satisfying than buying junk I don't need.

I don't get happiness from a new pair of shoes- but I get great happiness from paddling my kayak across the lake and watching the loons as I did today.

I have no debt at all, and never will.

Great to hear from others who have a similar take on personal finance.

Sometimes when my wife starts wanting a new car, house, or other unnecessary item, I have to remind her to sit back and appreciate what we already have and that more luxury items will come shortly as we grow our money.

I remind her that at our age 31 and 27, not many people share the same freedom and lifestyle that we have and the best is yet to come. Saying this is usually enough to extinguish the flames of desire.

 

[Subsailor]

Great to hear from others who have a similar take on personal finance.

Sometimes when my wife starts wanting a new car, house, or other unnecessary item, I have to remind her to sit back and appreciate what we already have and that more luxury items will come shortly as we grow our money.

I remind her that at our age 31 and 27, not many people share the same freedom and lifestyle that we have and the best is yet to come. Saying this is usually enough to extinguish the flames of desire.

It is very refreshing to see younger folks like yourself displaying wisdom like this. Thanks! (54 and 47)

 

[OrdinaryAvgGuy]

We are trying to have a kid for the tax deduction! Ok, just kidding on that last one.

Even if you were not kidding that's cool in my book.

Sounds like you are the leader in the commumication / cable category.

I'm with you when it comes to peeing in the yard and having the wife cut your hair. Good stuff.

 

[OrdinaryAvgGuy]

In order to receive measurable results, I thought a poll would be more helpful.

Go here https://www.homebrewtalk.com/f45/who-has-oldest-beater-poll-411175/ and tell us how long you have driven a daily driver.

It doesn't have to be your current daily driver, could be past or present.

 

[BamaProud]

I don't consider myself a tightwad, but I like to save money to spend on things I like/enjoy rather than spending it on the basics of life.

-We make our own laundry and dish washing detergents.
-Make our own surface cleaners.
-No home phone.
-"Chase" the 0% interest credit cards doing balance transfers when needed. (Racked up quite a bit of debt in College and 1st couple of years out of college)
-Buy food and other stuff like paper towels and toilet paper in bulk.
-I drive my wifes Van to work when she doesn't need it to save on gas...my truck is a guzzler.
-Don't eat out much at all
-We cook lots of meals that last multiple days...and I almost refuse to throw out food!

 

[Varmintman]

I don't know how on topic this is, maybe more of do you reuse or save items, idk.
My wife laughs, but I am one of those who rinses/wipes off tinfoil for reuse, saves rubber bands and string and it's amazing the number of things you can do with a brown paper shiopping bag. Plastic drink bottles have become small long term grain and bean storage bottles, 2 liter to 20oz size bottles anyway.
She is constantly on me with the question; Why are we saving this (insert item name here)? For example the tall red Folgers coffee containers. I drill drain holes in them and grow carrots, parsnips and individual tomato plants in them.
It's not that we can't afford things, it's that it just makes sense to use what we've got.

I do the same thing. Simply because I can

I was reading about how peer pressure will affect how you spend. Nothing could be further from the truth for me. My 2 best friends from high school well heck Jr High are both sitting on very large sums of money. I ran around with 2 other kids whose families are rich beyond belief. For awhile in my life I worked 16 hour days in my business and was trying to keep up with everyone. Things happened in my life and I had to get out of the business and live on what I have saved. I could not be happier in my life.

 

[Subsailor]

I do the same thing. Simply because I can

I was reading about how peer pressure will affect how you spend. Nothing could be further from the truth for me. My 2 best friends from high school well heck Jr High are both sitting on very large sums of money. I ran around with 2 other kids whose families are rich beyond belief. For awhile in my life I worked 16 hour days in my business and was trying to keep up with everyone. Things happened in my life and I had to get out of the business and live on what I have saved. I could not be happier in my life.

In my teens, I tried to fit in. Wear the same clothes, shoes, hairstyles (it wasn't pretty in the early to mid 70s). I tried to be the top end of style and spent my money freely but I wasn't really getting anything for my bucks. I found that just didn't suit me at all. It took a few years and even went deeply into debt and in my early to mid twenties I returned to the way I was raised and it was the best thing ever for my life. Be myself and be true to myself, be frugal but not stingy, share with others, especially knowledge and skill.
Our tools and equipment we purchase are the best that we can afford for me and my wife, that covers everything from hunting, camping, fishing gear to garden and shop tools and even kitchen cookware (still have my grandmother's cast iron cookware - best stuff on earth).
I'm fixing to retire next year and can honestly say that it should be a comfortable retirement.