Saving Money is Fun
Recently, I have been exploring the blogs of the really cheap and frugal. While I freely admit that I am the cheapest person I know, I am happy to see that there are a lot of other people out there like me. Their blogs have given me all kinds of ideas on how to save - although some of these people do seem to have gone beyond me to a whole new level of cheapness.For example, one woman is now tracking the yearly rate of consumption of personal care products like shampoo and toothpaste so that she can accurately assess how much she needs to buy in bulk for the products to last the year (apparently lasting more than a year is not an option).
Another person is trying to max out retirement (401K + Roth IRA) savings at 32.3% of his annual income. Ouch. I'm sure he makes more money than me.
Still others have taken the ultimate financial approach and are analyzing the opportunities costs of a higher down payment, lower down payment - investing the rest, or prepaying the mortgage.
I liked this most of all - "Frugality is the activity required for me to live below my means. Stinginess is the activity of requiring others to participate in my frugality."
posted by E @7:27 AM