Any people wealthy from frugal lifestyle?

**Heracles** · 05-16-2009, 02:47 PM

ALmost debt free and im proud to say Im still driving my 90K mile 2000 Honda accord..I was tempted a few times to spend $30K on a new car but I wont be doing that.

I want to really get into a positive cash flow house hold..getting there and it feels good. Sometimes you get the urge to treat yourself but to me its been able to go get a Dunkin Donughts coffee whenever I please, going out to eat with my wife and my 2 yo daugher like once a month- stuff we werent able to do when we were paying our debts off..

**forHISglory** · 05-16-2009, 03:20 PM

Are we frugal? You betcha.

Are we wealthy? Depends on who you ask. We are comfortable and have no debt. Many would say we are wealthy. Many would say we are middle class. We are probably more wealthy in our peace of mind and ability to help others than we are in monetary accumulation.

Are we happy? Absolutely! Like the OP, I like not having to worry about buying ice cream at the county festival, or how much I can spend at the yard sale. Our frugal nature allows us to be content with what we have and to make wise decisions that fit us as a family.

**Debbie-cat** · 05-16-2009, 03:21 PM

I am wealthy in alot of ways other than financial. Living frugally, I have learned to slow down and enjoy what I am doing now. I love buying things at Goodwill and garage sales and saving money. I also love having a large supermarket in my pantry (stockpile) so I can shop in there 24/7 and not worry about needing to run out to get something.

We are debt free and loving it!

**miss_cas** · 05-16-2009, 04:05 PM

Honestly Hercules,
A honda accord will go and go...it will drive 200k easily with just regular maintenance. Don't think about status symbols, just think about the account balances in the bank.

**Gardengal18** · 05-16-2009, 04:23 PM

My parents LOL! All their lives they've been frugal. Needless to say IT WORKS! LOL!

**Luckybustert** · 05-16-2009, 04:27 PM

Originally Posted by Debbie-cat

I am wealthy in alot of ways other than financial. Living frugally, I have learned to slow down and enjoy what I am doing now.

We are debt free and loving it!

This is very inspirational to me. I've found when I'm overspending and acquiring new debt, I'm usually trying to fill a void elsewhere in my life. I am trying to slow down and enjoy what I'm doing, and what I have, now. It's a learning experience and I have my good days and not-so-good days, but for the first time in a very long time I feel hopeful and like I'm getting in touch with what's really important to me. It's a good feeling!

Can I ask how long it took you to become debt free? And was it smooth sailing, or did you hit roadblocks along the way? What did you find most helpful in accomplishing your goal?

**The Muse** · 05-17-2009, 09:29 AM

I guess it depends on how you define wealthy. We're under 35, a little over a year away from paying off our mortgage (we're otherwise debt free) and have retirement accounts, investments, savings, and two 6-figure incomes. We don't worry about money at all, except where to invest it.

I drive a Yaris, buy most of my clothes at consignment or clearance, and cook 98% of our meals at home from scratch. We have solar panels, a clothesline, and a big veggie and herb garden. We use things up and wear them out, and we're not too cool for hand me downs.

If we lived the expected six figure lifestyle, we wouldn't be almost debt free with money saved and invested. We're on track to hit a net worth of $1 million well before we turn 40. Frugality works!

**Grainlady** · 05-17-2009, 10:10 AM

"Wealthy" is very subjective, so lets just say we're able to retire without the aid of Social IN-Security. We live in a 3-year old home (what we consider the home we'll retire in - we're 56 and 57-years old) and it's nearly paid for, and we have no other debt.

Being frugal has made it possible for us to be where we are in life financially; that and hard work. No big inheritances or rich relatives leaving us a pile of money, and since we don't buy lottery tickets, it's unlikely we'll ever win - LOL. I grew-up so poor, poverty would have been a step up in life and hubby was not much better off. We worked to put hubby through college and have always owned our homes - never rented.

It's been a running joke that I could SAVE more money being a homemaker than I could make working - especially when we had kids at home.

I've always had a home-based business of one kind or another, and we considered them "home-based TAX deductions" and a way I could fund my IRA account while being a homemaker.

Life's pretty good!!!

**peanut** · 05-17-2009, 06:51 PM

We aren't wealthy...we're middle class...but with being a one income family on a librarian's salary, we're doing very well. We have no debt. We are able to sock money away to pay cash for home renos and to travel. We will be able to survive on DH's pension plus the government pension when he retires.

I guess frugality has really opened my eyes to the fact that things aren't what make people happy. In fact I've come to resent things quite a bit. If you own them you have to maintain them and take care of them. I'd rather be creating or spending time with my family and friends. I like things insofar as they improve the quality of life of my friends and family.

Not surprisingly, the last few years I've been focusing on de-cluttering big time. It seems as fast as things go out the door, more stuff comes in though. Usually as gifts or inheritances or "Mom, could you please store this?" Not that I mind, but I sure am glad I've been de-cluttering, or there wouldn't be room for this stuff!

We've been thinking about downsizing when DH retires...I'm still de-cluttering madly. My sewing stuff is next on the agenda...

**Mckeekitty** · 05-17-2009, 08:50 PM

I agree with the previous posters...how do you define "wealthy"?

In all honesty, I have NO desire to be financially rich. I have seen the excess of money destroy individuals and families faster than a speeding bullet.

We embraced the frugal lifestyle several years ago. We have never had a clothes dryer, microwave, cable, high-speed internet, dishwasher, cell phone. We are a one-car family...the Toyota Corolla has 180K. We heat with wood and coal. We have no desire to eat out.

We have never felt deprived. We just adopted "if you don't want the bill, don't assume the service" mentality.

"Wealthy" to us is simplicity. Our income is very modest, our lifestyle is even more modest. It works for us, and yes, we feel very wealthy!

**Sassyclass** · 05-18-2009, 10:21 AM

I think Debbie said it best. For me having my bills paid, some money in the bank, and just enjoying what I already have is the important thing. If I had wanted to be "wealthy" financially, I wouldn't have married my x-husband and had my daughter and son. I would have taken my opportunity to go to college and be the doctor I always wanted to be from a very early age. My true wealth awaits me in Heaven.No amount of money can buy that.

Cat

**MaryCarney** · 05-18-2009, 11:45 AM

Be very sure you understand the difference between WEALTH and AFFLUENCE. And understand that just by living in this great country, you are wealthy.
Consider, Julius Caesar controlled most of the known world in his time. Yet he never travelled faster than a horse could take him, could communicate only at the speed of said horse, never tasted ice cream, and if he cut his finger and got an infection, it could easily have cost him his life.
Wealth is what you have, affluence is what you show.

**Heracles** · 06-08-2009, 10:35 AM

I am surprised from all the humble responses. In my opinion, you are all wealthy, as you have no CC debt or almost no CC debt. Those of you that post "Mortgage only" kudos to you.

Its taken us some time to bounce back from our financial disaster. WE were not irresponsible spenders like the most of the people in trouble out there...just started a business, sunk in finances from credit cards sources, business closed- Wife out of work for a year...But God blessed us as then that all happened we had our first baby, and my wife landed her first professional career.

Ever since (appx 2 years now) we pay everything with cash (debit card) and are paying down all out debts..Feb 2010 we will be comepletely CC debt free. Only debt will be wifes school loan (16K, and mortgage which is only 130K).

ANyhow, hope to hear more inspiring stories...its hard not to fall into "keeping up with the Jones's" crap..or at least its annoying when stuff gets rubbed in your face..lol..

**nodmicks** · 06-08-2009, 10:53 AM

Nope not wealthy at all as far a tons of $ in the bank. However we are debt free but the very affordable mortgage and are able to save now for things like the new windows we just had put in and pay cash.

We are able to live on Dh's average salary and my pt job now and when we were paying off our 46K in consumer debt because of frugality and being different from most people we know

I do have clients that were wealthy enough to pay cash for a very very nice custom built home, a small motor home and they both retired at 41. They are some of the most frugal people I know!

**savvy_sniper** · 06-08-2009, 11:02 AM

There are a lot of people in this country that are already in BIG financial trouble and there will be TONS of people that can't afford to retire or will be destitute/poverty level in their old age.

I took care of my mother (and her finances) for the last 6 years of her life. She and dad did okay planning for their retirement. If mom had lived a couple of more years she would have been absolutely broke!

I am 54 and hubby will be 45 in September. I have had my own business for over 6 years and work from home. We have been working HARD to get out from under as much debt as possible, as soon as possible.

Hubby will be eligible to retire in 8 years. He has already started looking around and thinking about what he wants to do to make extra money after he retires. Both of us will work from home AND our jobs will compliment drive sales to each other.

Working for ourselves and from home will give us the flexibility to do what we want when we want. We will be relatively young when he retires.

He will have a great pension/retirement, 100% medical insurance for him, 50% medical for me, and we both have 401(k)s, Roths, and savings. I KNOW we are in and will be in MUCH better financial shape than most of our friends/family (who also make TONS more money) because we are frugal and are planning as opposed to being in debt up to our ears and trying to keep up with the Joneses.

We ARE rich in SO many ways!