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I can never decide if I’m tight, frugal or a spendthrift. I seem to have developed characteristics of all the spending groups. In a nutshell I’m a bit of a consumer paradox. Take the other week.
My wife Suzie and I were out shopping for a pair of trainers for my grandson. I happened to spot a t-shirt that caught my eye, and the best part was the price: it was discounted by a whopping 70%. The quality was good and in my mind It was a great deal, and so I purchased six of them. I admit Suzie’s heavenwards eye roll nearly changed my mind.
This kind of purchase I suppose can be viewed in a couple of ways, depending on your perspective. You could see it as profligate spending—buying six of the same item seems excessive to some. Or, you could look at it from my point of view: I was simply optimizing a great discount opportunity.
For me, the decision was simple. I spend a majority of the year in shorts and t-shirts, so having multiple copies of a comfortable top makes getting ready in the morning a breeze. I don’t feel the need to stress about my daily wardrobe choices, as long as I know what I’m wearing is clean and fresh. To my mind, that’s a perfect example of a smart purchase. It’s simply buying what you need, when it’s at its best value, and without overcomplicating things.
I don’t consider myself a frugal person, but I definitely need to feel I’m getting good value for my money, and once this tipping point is reached I spend freely without a second thought. It’s a mindset that influences many of my decisions, especially when it comes to big purchases. For example, my last few cars have all been second hand one year old with very low mileage. I would find it stomach-churning to watch 20% or more of a new car’s value disappear the moment I drive it off the lot. I also pay in cash to avoid interest charges.
That same principle applies to everyday things. I like to tinker and fix anything that’s within my skill set. To me, paying someone to do a job I’m capable of doing myself just doesn’t compute. But once it’s outside my comfort zone professional services are called upon without batting an eyelid or having any regrets.
Even when it comes to getting to the shops to purchase something I regularly use public transport. First of all it’s cheap and saves me money, this soothes my tightness/frugality gene and it’s just really convenient with no need for fussing over finding and paying for parking space , I guess it helps that I don’t mind public transit one bit—especially trains, which I genuinely enjoy traveling on, it’s a great people watching opportunity and you overhear some interesting conversations…this satisfies my nosy streak, my only problem would be if I see good value discounted trainers, might be difficult getting six pairs home on the bus! But who in their right mind would buy six pairs of trainers anyway?
Like Dana, I hate shopping, especially clothes shopping – I aim for clean, covered and comfortable. I had pretty much given up on finding jeans that fit, so when L.L. Bean had a style that worked I bought six pairs – two in each of three colors. I trust I will never need to buy jeans again. I buy the same style of sneakers and sandals every time, but I don’t worry about the price. I have difficulty finding shoes that fit, and once I find a style that works I stick with it.
Been a runner for decades. I have a pair of “go to” shoes that I always wear. I buy 3 pairs at a time online and keep them on a rotation. Like not having concern about size or fit.
One rule my entire life has been I won’t pay to have someone do something that I can do myself.
I think I’ve largely lived by this (aside from not attempting car mechanics due to time/tools/lack of ramp/access pit).
I probably need to learn to delegate more though I’m looking forward post retirement doing some youtube aided domestic maintenance jobs that have been long deferred. New skills good for the brain I’m hoping rather than being a frustrating time suck.
I bought 10 t-shirts–different colors of course–and emptied my drawer of the old t-shirts I wasn’t wearing.
I’m with you. I hate shopping, and if I find something that works for me (jeans, shoes, whatever) at a good price, I’ll get multiples.
One of the best things about being retired is hardly ever thinking about my wardrobe anymore.
I don’t think you’re a spending paradox, Mark. I think many people who are considered good savers would acknowledge sharing your good habits.
I loved using the trains in Chicago and England. Sadly, mass transit is sorely underdeveloped where I live.
I’m very fortunate to live in an area with excellent public transport. The only good thing I’m looking forward to when I turn 60 is free public transport lol
I’m with you on this one. I bought a pair of sunglasses I love back in 2012 or ’13, and kept my eye out for a second pair at a discount. I checked ebay one day in early 2018 and found eight pairs for a total of $160. The MSRP was around $300 a pair. The seller was selling as a lot, so I bought them all. I still haven’t needed them – my original pair is still fine – but I love knowing I have a lifetime supply, just in case!
As for sneakers, I used to go through a pair every eight months or so when we had a dog. He was a fast walker, and I walked around 18 miles a week with him. The local shoe warehouse had a closing down sale, and I bought three pairs of sneakers at $20 each back in 2019. The dog died in 2020, so I still have two pairs of untouched sneakers sitting in my closet.
I’ve also bought some really nice leather jackets on sites like The Real Real and paid around 10% of original MSRP for items that looked brand new. I like my bargains.
That 18 miles a week might have been the best investment you could possibly have made in a longer, healthier and happier life.
I think you should get out there and find another dog to help you put those other two pairs of shoes to work.
(I get it if it seems too soon — we mourned Rambo for eight years — but Danny has been a gift to our hearts, both emotionally and fitness-wise.)
The stockpiling thing is something I do haphazardly. It works as long as you can remember where the spares are when you need them.
However I’ve no doubt overbought in some categories. I seem to have plenty of sunglasses when reality is the only time I use them is when wearing contacts and usually I use my photochromic regular glasses (or a prescription sunglass pair when I can be bothered juggling indoor/outdoor).
I think that’s the danger for those of us that buy opportunistically – we end up with more than we ultimately need.
A man after my own heart lol