I am not poor, I am not rich. I would say I am better off than most of the local friends that I have. I could probably afford a car if i needed one, which I don't. I am financially secure, let's just say that. I played my cards correctly in a financial sense in my 20's and 30's and for the most part my 40's as well.
I can afford a lot of things that I do not buy and sometimes people ask me why I am like that. My friends know that I am reasonably well off and some of the things that I do might seem silly to them but all I can really say is that in my family, the apple didn't fall very far from the tree and the miserly ways of my parents - who did so out of necessity - extended to me as an adult.
Here are some thing that I do with my money that I think a lot of people don't do and that just might be part of the reason why I am in fact, financially secure, and a lot of them are not.
We'll start right here. If that looks gross to you, well, don't come over to my house - which is unlikely anyway because I almost never invite anyone over and I actually get uncomfortable when someone is here.
I save all the slivers of soap that I accumulate from taking a shower. Some people throw these away because soap is cheap right? Well I see it as wasteful to throw it away. Plus it is soap. Soap as Chandler said in the TV show "Friends" is "self cleaning." While the pile probably gets crazy high after a while I find it silly that anyone would buy other pieces of soap to wash their hands when these are basically provided all the time.
Next up we have bulk purchasing. It is very possible to buy 36 tubes of toothpaste all at one time. you end up getting a 30% discount when you do this. Is a tube of toothpaste expensive? Of course not! But it is one of those things that you are definitely going to use all of and it never expires - despite what it says on the box - so I don't understand why other people don't do this. It's a waste of money.
Let's stick with the bathroom for now
This is upside down. whatever, I'm not going to take the picture again. I always buy my toothbrushes in packs of 3 or if there is a greater quantity I will buy that.
This is another one of those things that eventually you are going to use all of and again, buy purchasing 3 at a time, you save 30% or more. There isn't any good reason to not do this.
Other things I buy in bulk are dog food, dog treats, water, laundry detergent and this isotonic drink I really like that if you buy it one bottle at a time it costs 14k but if you buy a case it they are 6k per bottle. This is an over 50% savings on something that am absolutely certain i will drink all of. ... why not?
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The above is a picture of people in Milwaukee lining up early in the morning to be the first people to own the new Iphone. These things are really expensive and a year from now nobody is going to feel so great about their new Iphone as they line up yet again to pay huge money for another one. This is a level of what I consider idiocy that defies all logic.
I have a $400 Xiaoami phone. It does more than all I need it to. It takes decent pictures. It is several years out of brand new. I will keep it until it dies. I know a few people with super brand new phones and all of these people have less financial security than I do. Is this a coincidence? I don't think so.
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I know that the above image is kind of taking things a bit far but I personally spend very little money on anything that I wear. I don't do labels and am not impressed by them. Actually, when I see someone that is wearing a t-shirt that likely cost $100 because of the label that is on it, I immediately think they are an idiot.
Look at Mark Zuckerberd and Steve Jobs. These guys basically had on exactly the same thing ever time you saw them even though they could afford to not just buy a Supreme shirt, they could buy the entire company if they wanted to. Recently with all the tariff stuff going on that in no way affects me or anyone I know, it was exposed that these designer handbags that some women seem to find very important are actually available to purchase for 1/30th of 1/50th of what they cost in a store. It just doesn't have the label on it.
I find this sort of stuff idiocy at the highest level. I CAN afford Supreme shirts and a big part of the reason why that is the case is specifically because I DO NOT purchase them.
The only clothes that I really spend "top dollar" on is athletic equipment such as trainers, shorts, and good quality socks. I am not overly attached to any particular brand either, I just do my research and find out what material I need them to be made out of and make my purchases accordingly. There is a company that exists in Thailand and Vietnam (as well as other places I'm sure) called Decathlon that has high quality athletic clothes and shoes that are made of EXACTLY the same sort of materials that Nike, Adidas, Reebok, and New Balance make their stuff out of, but it is 1/3 the price. I shop there. My clothes don't have the rapper appeal but if that is something that you think I care about, you would be extremely wrong.
Again, I can afford the latest Nike shoes, but part of the reason why that is the case is because I don't, and never did.
There are probably a lot of other things I could list but this is already dangerously long to the point that I don't think many people are going to read all of it.
I am not trying to brag here but here is the truth: I am not particularly smart and I certainly don't have insider information as far as wealth-generation is concerned. I do know that in our consumerist society that people have been programmed to spend more money than they should. The secret to my financial freedom is quite simply, not spending money where it isn't necessary. That's not so difficult is it?
Bulk buyer here as well! Especially those things like soap, shampoo and toothpaste. Dogfood I try to hunt for the deals because this is crazy expensive over here. And the garden that is he big winner over here.
Trying to use the seeds from last years plants so these can make the veggies from this year. It also saves a ton.
My healthcare job is exactly the Dutch average salary here in the Netherlands, so making some wise choices just helps with everything.
Yeah vietnam groceries, when I was there last year it made life easy coming with my healthcare salary. Crazy how the world works in that perspective right?
lol. It doesn't make a whole lot of sense to me. When I hear what people pay for things not in Vietnam or Thailand ( the only two countries I really have experience in) I am alarmed and no wonder when they do come and visit over here they are very jealous.
There is the couple that I know from Norway and they spend 6 months a year in Vietnam. They tell me that the 6 months of being here and basically doing whatever they want without much concern to costs, is about the same cost as living a single month in Norway. They tell me that they cannot afford to go out to eat and definitely cannot afford to go out drinking.
The "economies of scale" are nuts and I really think that most of it is profiteering on the part of companies. how else can you explain that the exact same product, like colgate for example, costs 10 times as much in the west as it does here even though it is produced inside of that country?
"The less you focus on impressing others, the more you can actually afford to live comfortably and stress free"..
but honestly, there are things that we need to pay extra to ensure the quality.. like some footwear I've had in the past.. cheaper brands tend to give me sore feet and even bruises.. but for clothes, I don't spend too much.. I can settle for a t-shirt and a pair of cheap pants.. 😆
I really admire your perspective on financial responsibility..
I totally agree with you about footwear but lately I have become pretty careful about the big brands. Often you are paying more for the name and they aren't necessarily better than other brands that are less prestigious. I have a pair of athletic shoes on the way right now that is a brand that I have never heard of but according to reviews they are as good or even better than Adidas, Nike, etc.
Hey there I'm so proud of you. This kind of people I adore because they are thinking about future. I also do like buying bulkies because we can save.
You're so smart and intelligent
Have a wonderful day
I do buy also 3n1 toothbrush,we used the smaller soap put it inside a face towel and rub it on the skin so we could still used it. I do not get another new one from the box if there are still small ones and I teach my daughters to do it so they would learn the essence of saving and not wasting whatever we have and value whatever is there. Have A blessed day to you and God bless.
that's great that you are passing this information on to the next generation. My parents did that for me and that is why I am the way I am now.
Yes because I want them to be thrift on the stuff that are still useful and learn the value of money.Thanks and have a blessed day.
Yes, not that difficult to perceive that money shouldn't be spent when it isn't necessary. I've learned this the hard way, and the hardest part is that you only have yourself to get you out of that pit. Now, I'm very careful where I spend my money. If it's not important, I wouldn't buy. I'm really rooting for this kind of post because this is where I learn different strategies that I can likewise apply. :)
Thee are only a few things I will go out and buy and pay the price for mainly as I am fussy and if I like the look of something I will buy it, but that is rare this ever happens. I got rid of the car 3 or 4 years ago and use whatever car is at the house and is normally a company car from the office. I am not a miser and have taught my kids to value what they have.
you are a good parent. I am not often around people that have kids but I hope that they are passing this idea along to them. When I was a kid we rarely went out to dinner at a restaurant. It would be many years before I understood why.
We do go out ,but it is for special occasions normally and not just going out because we can.
I buy six toothbrushes because I like to change them every three months. For soap, I take advantage of deals where I can buy ten bars and get two free. I'm familiar with Decathlon; they offer high-quality products. I prefer not to spend more on branded shoes and shirts. Instead, I focus on buying comfortable, good-quality shirts and shoes.
oh hey, one more thing. When I was in graduate school some of my friends were in medical school and one of the guys that I still keep in touch with was and still is a highly regarded dentist. According to him, and he forwarded a medical journal that I did not read because I don't understand it, he said that the quality of your toothbrush is far more important than any toothpaste. According to him, people don't actually need toothpaste at all, it is just a product that is sellable, so companies sell it. The process of using the brush is the most important part of the process, so yeah, changing your toothbrush on a regular basis is very important according to the professionals.
Thank you for the information about the toothpaste. However, I don’t think I can brush my teeth without it! Hehehe.
You're right; we should regularly change our toothbrushes.
I also buy 5 to 10 dishwashing sponges at a time because I like to change them whenever they get dirty.
ah, i had forgotten about the dishwashing sponges but I also do that. Always a giant pack. There have been a couple times where the sponges were really terrible quality though and that sucked because now I have 20 of them.
the best thing about Decathlon is that if you do buy a pair of shoes from them or a shirt of whatever, if you are not wowed by it, it's not a real loss. I recently purchased some Reebok shoes for about what you pay for Reebok shoes. They suck and they were $100. I bought some Kalenji shoes from Decathlon for around $25 dollars and they are superior quality.
I first learned about Decathlon while working in logistics, as they were one of our clients. We delivered their products to customers in Davao, but only to a select few. I usually buy shoes priced below 1,000 pesos because I prioritize comfort. However, I hope to purchase high-quality shoes soon since the last pair of sneakers I bought has already worn out.
I ordered something from Decathlon the same day you brought it up :)
It may not be difficult for you to be wise in spending money, but it is very tempting for me. Especially in a society that assigns a person's worth and value in the things he/she spent on. I feel a lot of pressure because of this mentality so I really appreciate you sharing this eye opener. Please share more if you can. Thank you. 🙏
When I lived in USA there was a lot of pressure to always have the latest gadgets electronics, and even cars. I remember that when I lived in Chicago, a city that is well known for its traffic jams, I had an 80,000 dollar sportscar that is meant to be raced. I don't think I ever got that thing over 50km / hour. It was a stupid thing to buy but that was the expectation socially at that point in my life. I also probably spent $600 a month on clothes.
One of the benefits of getting older is that you stop caring so much what other people think of you. or at least that has been the case in my life.
All very good points.. to me the thing that seems to keep most people poor is intrest.. They can't afford it but Visa will happily loan you the money.. you just have to pay it back tenfold over time.. some people actually brag about how many credit cards they have.. all while living in a house they are renting..
The bragging about CC's is nuts. I don't understand why people have more than 1 or 2. I think two is ideal. One Amex for the travel perks, one other one because it accumulates points towards airline miles or something. People that carry a credit card debt are ideal customers for the banking industry.
Well they've made it so you have to have at least one.. I have 3. All with a $0 balance.. which I've heard is also not good.
This type of mindset is what everyone should have. Though it is not bad to go with the trend, but if it hurts your financial stability, then that is a big NO. I agree with you by not spending if it isn't necessary. Keeping what is working will really make a difference
There are only a couple of things that I will pay top dollar for and even then I am more middle of the road than a top-end user. For example, I work on a computer remotely so it is important that I have a decent machine. I do not buy top of the line though and the computer I am typing on right now was 2nd hand refurb, and I paid around $400 for it.
Your spending strategy is what makes you save money. Your thinking for future possibilities and not wanting to buy unnecessary things like a car even though you can afford it because you prioritize needs over wants and I should take note of that hehe.
I super relate to saving up soap! My family and I do this all the time! I personally find it a bit wasteful to throw the soap away, when it can still be used! What I do is I stack it up with the new one. =)
yeah, things like that never made much sense to me. Why throw away something that is still useful?
Definitely! If you can still use it, might as well do until there's none of it anymore!😊
My wife and I are both pretty frugal, so I got lucky there. Maybe not to your extent, but we don't live beyond our means at all. It's sad to see so many people living in debt.
There is a guy that was my college roommate at one point and he is such a victim of usa consumerism to the point where I feel bad for him because he is too old now to make any sort of meaningful nest egg. He has 3 cars even though there are only 2 drivers in his family, he has a speedboat that hasn't been used in such a long time (because he lives nowhere near a large body of water) that it doesn't even work anymore and he can't sell it for a good price because it doesn't work) he ALWAYS has the latest phones and various smart devices in his house. he has something crazy like a 100 inch tv that cost $4000 and he financed it like an asshole, and he is constantly terrified of what he would do if he were to lose his job.
When I visited him several years ago he couldn't afford to go to a sports bar with me so I had to pay for it, which I gladly did. I was just so alarmed that someone would be so obsessed with the acquisition of "stuff" that he doesn't even use. He also had a garage full of tools all of which were expensive and when I asked him what he has built with it, he pointed to a chicken coop that was so poorly constructed that the chickens are constantly being killed by foxes or something that easily break in. Great job dude! you have $11,000 worth of tools to construct a chicken coop you could have purchased for $250.
Needless to say he is drowning in credit card debt as well.
Yikes, that kind of thing makes me sad. I have always been of the opinion that having less debt was more important than having more savings. I aggressively attacked our debt to the point that we had very little breathing room, but now, it is really paying off. I'm actually to the point where I can buy stuff because I want to if I so choose, not because I feel I need to. That idea of keeping up with the Joneses is a dire pit that many find themselves in.
a question that you don't have to answer: were you ever "house poor?"
Actually, no. My wife's first house was pretty small, so the payment was quite low. When we bought our current house I went in knowing what I wanted my monthly payment to be no matter how much we could get approved for. The loan officer was shocked at how good our debt to income ratio was, but I held fast to wanting our monthly payment to be in a certain range. We eventually found that place.
look at you all smart and informed and sensible. I became that way as I got older but I recall when I was first presented with student loans. I was barely 18. They said (and I am making this figure up) "you can have up to $5000 per semester, how much do you want?"
Any guesses what my response was as a barely 18 year old kid?
I can totally appreciate that. I probably would have done the same thing. In fact, in my earlier years I accrued a lot of debt that I had to deal with later in life. I had the benefit of buying our second house after the crash of 2008. People who paid attention during that time should have learned a lot of valuable lessons they could apply after the fact. "House poor" was the theme of that time!
Wow, that is a great way to save up. Thank you for the idea and I will take note on this.
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