bro75 wrote: ↑Sat, 19 Jun 2021 11:41 amThis is an interesting discussion. I consider myself frugal but not at the level of WD40. We live in a HDB, have no car, have no maid, and most of our appliances are more than 10 years old. I am averse to any type of loan except for the HDB mortgage. We basically accumulated a respectable net worth not due to savvy investing but just due to low spending compared to our income. Prior to the pandemic, we still had our overseas trips, dining out, movies and other entertainment. I do not consider myself ready for retirement and plan to work until retirement age unless the work environment deteriorates severely or unless we get kicked out of here for any reason.
I think WD40 did very well for himself. I have many countrymen in overseas employment that returned home with no savings after their contract ended. Some had savings but placed them in failed investments forcing them to go abroad again.
I understand the story of the very frugal Asian parent or grand parent as this happened to us. For Asians, many of our parents and grandparents experienced hard times and developed a frugal mentality that affected us in different ways. I believe I became more frugal compared to my generation due to my parent's and my own experiences. My siblings are more into the FOMO mentality as they value experiences more than savings but at least they do not borrow for these experiences.
Good point that you brought up. Having to be frugal out of necessity would be torture, but doing it out of choice could be a joy.Wd40 wrote: ↑Thu, 17 Jun 2021 9:20 amThanks. Yeah, most people wouldnt do it. People who are frugal are outliers. But the thing is whether you are doing this naturally or out of compulsion. Anything you do naturally and stuff that you like you will love doing it, while things that you forcing upon yourself will make you miserable.Lisafuller wrote: ↑Wed, 16 Jun 2021 3:54 am
Interesting perspective! Personally, I would never go so far just to save a couple of dollars, but if you and your family are happy, then what you’re doing is great! Hell, you even got some good exercise out of it!
But people think, anyone who is different from them are forcing things upon themselves and so are miserable. Hence my long post, sorry about that
Good mentality to have. It’s important not to overspend and go crazy, but also to spend enough to make sure that we are enjoying our lives. It’s always good to have enough saved for a rainy day, but the stuff you don’t spend you can’t take with you when you die.smoulder wrote: ↑Thu, 17 Jun 2021 9:35 pmIt's great that you at least introspect about it. I know a few of our fellow countrymen who live overseas (in Singapore and elsewhere) for years and years, live in a bubble with other fellow Indians and never look back. As far as they are concerned, all they are there for is the money.Wd40 wrote: ↑Thu, 17 Jun 2021 4:46 pmIf there is anything to show for myself over the years I spent here, it is my networth, I guess, when I grow older and look back, maybe I will regret, living in a place for so long, yet not really having "lived", gotten to interact with real Singaporeans, making relationships etc. It is like the time just flew away and I didnt really make much other than money.sundaymorningstaple wrote: ↑Thu, 17 Jun 2021 11:16 amWD40, in all of his guises, if nothing else, has been single-minded as long as we've known him here. I have to give him props as he has an end goal in mind and is doing what is necessary for him and his family to achieve that in the shortest possible time with the assets at his disposal. I wish I'd have had his determination to not wait for what may never appear and work with what one has, to get to where they want, in the shortest time & safest way possible.
I am curious, though. WD40 do you have a bucket list? I don't. My signature says it all.
I'd rather be like you (introspective) than the guys who never do.
Interesting conversation by the way. I would like to share my own perspective and experience. I'm Indian and my wife is Malaysian Chinese. Neither of us are particularly big spenders but I wouldn't say that we are frugal. Now both of us were working till a couple of years ago when my wife decided to take a break from work. It has continued for a bit longer than anticipated - now that we have a daughter. Once she starts preschool in September, my wife will start searching for a new job.
Anyway, the point is that prior to her break with both of us earning more than a decent amount, we might have sometimes thought twice about certain expenses. Looking back and seeing how different life is with just one salary helped us put into perspective just how much we were earning earlier and how we could have been a little bit more carefree within some limits. We swore that once she starts working again, we will make sure to spend enough to enjoy our time now when we are still relatively young.
Yea the thing is that it's good to go into retirement age with enough and not have to worry about money at a time when you might find it harder to work or get a well paid job. It's also nice to have enough so that you can do things like traveling when you are older.Lisafuller wrote: ↑Sat, 19 Jun 2021 6:25 pm
Good mentality to have. It’s important not to overspend and go crazy, but also to spend enough to make sure that we are enjoying our lives. It’s always good to have enough saved for a rainy day, but the stuff you don’t spend you can’t take with you when you die.
Yea the thing is that it's good to go into retirement age with enough and not have to worry about money at a time when you might find it harder to work or get a well paid job. It's also nice to have enough so that you can do things like traveling when you are older.Lisafuller wrote: ↑Sat, 19 Jun 2021 6:25 pm
Good mentality to have. It’s important not to overspend and go crazy, but also to spend enough to make sure that we are enjoying our lives. It’s always good to have enough saved for a rainy day, but the stuff you don’t spend you can’t take with you when you die.
I absolutely love being in comfort zone and being complacent. I guess we both are exactly opposite, like chalk and cheese, I think if we knew each other in real life, we wont even be able to stand each. You are well read high achiever. Good for you, but I dont like to lead a life like that. I am absolutely enjoying my life doing nothing. The last books I read were Tom Sawyer and Huckleberry Finn.midlet2013 wrote: ↑Sat, 19 Jun 2021 5:04 pm
But, my biggest fear is that Comfort Zone leads to Complacency.
Thus, Financial Freedom should not result in zero passion. Instead it should inspire one to do things that one could not otherwise do.
I wanna live like a rich guy, but I wanna die like a knowledgable guy.
Thanks. I agree, there is no one way of living and your siblings are doing the right thing. It is just that, there is usually a trade off and the equation is very simple. The more you want to spend, the more you have to earn. The more you have to earn the longer you have to work. If you enjoy your work, that is great. Few people in this world are lucky to be skilled enough to find the work they enjoy and these people dont really have to do any trade off.bro75 wrote: ↑Sat, 19 Jun 2021 11:41 amThis is an interesting discussion. I consider myself frugal but not at the level of WD40. We live in a HDB, have no car, have no maid, and most of our appliances are more than 10 years old. I am averse to any type of loan except for the HDB mortgage. We basically accumulated a respectable net worth not due to savvy investing but just due to low spending compared to our income. Prior to the pandemic, we still had our overseas trips, dining out, movies and other entertainment. I do not consider myself ready for retirement and plan to work until retirement age unless the work environment deteriorates severely or unless we get kicked out of here for any reason.
I think WD40 did very well for himself. I have many countrymen in overseas employment that returned home with no savings after their contract ended. Some had savings but placed them in failed investments forcing them to go abroad again.
I understand the story of the very frugal Asian parent or grand parent as this happened to us. For Asians, many of our parents and grandparents experienced hard times and developed a frugal mentality that affected us in different ways. I believe I became more frugal compared to my generation due to my parent's and my own experiences. My siblings are more into the FOMO mentality as they value experiences more than savings but at least they do not borrow for these experiences.
I feel your pain. They shouldn't be trying to force people to contribute. Why should you if you are not that close to the person they are spending the money on? You don't have to be close to your colleagues. This is regardless of being frugal or not.Wd40 wrote: ↑Sun, 20 Jun 2021 10:47 amFrugalness sometime puts you in a tight spot. Our team, likes to take people for team lunch whenever someone comes from Offshore. I understand taking out of lunch, but why go to very expensive places. Someone comes once every 3 months, before pandemic and then they go out and spend like $30-40 per person. That pisses me off, because I dont want to spend that much unless I am taking my family out. I mean, think about it I tell my wife, I went out of lunch with team and spent $30-40 for myself.
Same thing when someone leaves the company. I have been with this company for 6 years now and every year people come and go and somebody made this rule that people who are leaving will get gifts and everyone contributes like $25. Last month 2 people from our team quit and I was asked to contribute $50. There are 8 people in our team and these people who are quitting are going to get $200 each. I am like what the hell? I havent gifted that much to my wife also. I just refused to contribute. So, yeah I am frugal in a very wierd way.
Right, it’s all about balance. Don’t enjoy yourself too much when you’re young because you’re end up suffering when you’re older. At the same time, don’t forget to live while you’re young or you will regret it when you’re older.smoulder wrote: ↑Sat, 19 Jun 2021 7:28 pmYea the thing is that it's good to go into retirement age with enough and not have to worry about money at a time when you might find it harder to work or get a well paid job. It's also nice to have enough so that you can do things like traveling when you are older.Lisafuller wrote: ↑Sat, 19 Jun 2021 6:25 pm
Good mentality to have. It’s important not to overspend and go crazy, but also to spend enough to make sure that we are enjoying our lives. It’s always good to have enough saved for a rainy day, but the stuff you don’t spend you can’t take with you when you die.
However, on the other hand, if in the process of saving up, if you deprive yourself when you are younger and at an age when can actually enjoy yourself, you may well end up putting off enjoying the fruits of your labor till it's too late.
Tom Sawyer and Huck Finn! My dad read them to me when I was little. I can’t imagine living my life exactly like you describe, but I admire your discipline and your determination to live life on your own terms, regardless of what naysayers think.Wd40 wrote: ↑Sat, 19 Jun 2021 7:44 pmI absolutely love being in comfort zone and being complacent. I guess we both are exactly opposite, like chalk and cheese, I think if we knew each other in real life, we wont even be able to stand each. You are well read high achiever. Good for you, but I dont like to lead a life like that. I am absolutely enjoying my life doing nothing. The last books I read were Tom Sawyer and Huckleberry Finn.midlet2013 wrote: ↑Sat, 19 Jun 2021 5:04 pm
But, my biggest fear is that Comfort Zone leads to Complacency.
Thus, Financial Freedom should not result in zero passion. Instead it should inspire one to do things that one could not otherwise do.
I wanna live like a rich guy, but I wanna die like a knowledgable guy.
One of the reasons, I set out to achieve financial independence over everything else is because the society thinks people like you are winners and rest are losers. So I wanted to make sure, I make enough money so that I can show middle finger to society and live a life exactly like how I want.
I understand the frustration of being hit with these exorbitant costs for dinners you’d rather not attend and paying for gifts for people whom you barely even know. But I usually contribute just because it would be awkward not to. Do you ever worry about the response you get from refusing to contribute?Wd40 wrote: ↑Sun, 20 Jun 2021 10:47 amFrugalness sometime puts you in a tight spot. Our team, likes to take people for team lunch whenever someone comes from Offshore. I understand taking out of lunch, but why go to very expensive places. Someone comes once every 3 months, before pandemic and then they go out and spend like $30-40 per person. That pisses me off, because I dont want to spend that much unless I am taking my family out. I mean, think about it I tell my wife, I went out of lunch with team and spent $30-40 for myself.
Same thing when someone leaves the company. I have been with this company for 6 years now and every year people come and go and somebody made this rule that people who are leaving will get gifts and everyone contributes like $25. Last month 2 people from our team quit and I was asked to contribute $50. There are 8 people in our team and these people who are quitting are going to get $200 each. I am like what the hell? I havent gifted that much to my wife also. I just refused to contribute. So, yeah I am frugal in a very wierd way.
No, I dont worry anymore. If I was new in the org, I would probably. But now, most people know me well.Lisafuller wrote: ↑Mon, 21 Jun 2021 2:33 amI understand the frustration of being hit with these exorbitant costs for dinners you’d rather not attend and paying for gifts for people whom you barely even know. But I usually contribute just because it would be awkward not to. Do you ever worry about the response you get from refusing to contribute?Wd40 wrote: ↑Sun, 20 Jun 2021 10:47 amFrugalness sometime puts you in a tight spot. Our team, likes to take people for team lunch whenever someone comes from Offshore. I understand taking out of lunch, but why go to very expensive places. Someone comes once every 3 months, before pandemic and then they go out and spend like $30-40 per person. That pisses me off, because I dont want to spend that much unless I am taking my family out. I mean, think about it I tell my wife, I went out of lunch with team and spent $30-40 for myself.
Same thing when someone leaves the company. I have been with this company for 6 years now and every year people come and go and somebody made this rule that people who are leaving will get gifts and everyone contributes like $25. Last month 2 people from our team quit and I was asked to contribute $50. There are 8 people in our team and these people who are quitting are going to get $200 each. I am like what the hell? I havent gifted that much to my wife also. I just refused to contribute. So, yeah I am frugal in a very wierd way.
I see, I guess it would tough to get used to at first, but after a while, everyone would accept it and move on. There are more important things to worry about, after all.Wd40 wrote: ↑Mon, 21 Jun 2021 9:10 amNo, I dont worry anymore. If I was new in the org, I would probably. But now, most people know me well.Lisafuller wrote: ↑Mon, 21 Jun 2021 2:33 amI understand the frustration of being hit with these exorbitant costs for dinners you’d rather not attend and paying for gifts for people whom you barely even know. But I usually contribute just because it would be awkward not to. Do you ever worry about the response you get from refusing to contribute?Wd40 wrote: ↑Sun, 20 Jun 2021 10:47 amFrugalness sometime puts you in a tight spot. Our team, likes to take people for team lunch whenever someone comes from Offshore. I understand taking out of lunch, but why go to very expensive places. Someone comes once every 3 months, before pandemic and then they go out and spend like $30-40 per person. That pisses me off, because I dont want to spend that much unless I am taking my family out. I mean, think about it I tell my wife, I went out of lunch with team and spent $30-40 for myself.
Same thing when someone leaves the company. I have been with this company for 6 years now and every year people come and go and somebody made this rule that people who are leaving will get gifts and everyone contributes like $25. Last month 2 people from our team quit and I was asked to contribute $50. There are 8 people in our team and these people who are quitting are going to get $200 each. I am like what the hell? I havent gifted that much to my wife also. I just refused to contribute. So, yeah I am frugal in a very wierd way.
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