Comments on: My Problem with Being Frugal http://hopetoprosper.com/my-problem-with-being-frugal/ Simple Practices that Lead to Wealth Wed, 28 Jul 2010 21:17:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Evaluating the Cost of Extreme Frugality http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-63 Evaluating the Cost of Extreme Frugality Mon, 27 Jul 2009 12:20:42 +0000 http://www.bretfrohlich.com/?p=639#comment-63 [...] Earlier this month one of my favorite personal finance bloggers, Bret Frohlich, wrote a terrific piece where he declared war on frugality and explained why frugality doesn’t always pay. [...] [...] Earlier this month one of my favorite personal finance bloggers, Bret Frohlich, wrote a terrific piece where he declared war on frugality and explained why frugality doesn’t always pay. [...]

]]> By: CJ http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-62 CJ Wed, 22 Jul 2009 21:35:12 +0000 http://www.bretfrohlich.com/?p=639#comment-62 Thanks for the post, Bret! I agree, building wealth requires focusing on how to increase your income. But it also requires knowing how to spend less than you make, which frugality helps teach. Balance is the key; if you focus on one and not the other, you'll still end up poor and/or dissatisfied with life. Thanks for the post, Bret! I agree, building wealth requires focusing on how to increase your income. But it also requires knowing how to spend less than you make, which frugality helps teach. Balance is the key; if you focus on one and not the other, you’ll still end up poor and/or dissatisfied with life.

]]> By: Neil http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-61 Neil Wed, 15 Jul 2009 00:52:28 +0000 http://www.bretfrohlich.com/?p=639#comment-61 Budgeting skills are necessary at any income level...give people who are living on credit at $50k/year a 100% raise, and they'll still be living on credit next year. Yes, people should be trying to increase their income, but savings and budgeting skills are what most people lack - not the desire for more income. Budgeting skills are necessary at any income level…give people who are living on credit at $50k/year a 100% raise, and they’ll still be living on credit next year. Yes, people should be trying to increase their income, but savings and budgeting skills are what most people lack – not the desire for more income.

]]> By: Carnivals This Week | One Million and Beyond http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-60 Carnivals This Week | One Million and Beyond Tue, 14 Jul 2009 02:37:01 +0000 http://www.bretfrohlich.com/?p=639#comment-60 [...] This is the 213th edition of the carnival! Here are a couple posts that caught my attention: 29 Reasons Why Being A Part Time Entrepenuer Sucks How to Hard Reset your Financial Life Keys To Effective Money Management – Part 1: Attitude How To Get Out of Debt With A Debt Repayment Plan To Save Big, Think Small My Problem with Being Frugal [...] [...] This is the 213th edition of the carnival! Here are a couple posts that caught my attention: 29 Reasons Why Being A Part Time Entrepenuer Sucks How to Hard Reset your Financial Life Keys To Effective Money Management – Part 1: Attitude How To Get Out of Debt With A Debt Repayment Plan To Save Big, Think Small My Problem with Being Frugal [...]

]]> By: Carnival of Personal Finance: New Zealand Edition! | Man Vs. Debt http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-58 Carnival of Personal Finance: New Zealand Edition! | Man Vs. Debt Mon, 13 Jul 2009 08:30:50 +0000 http://www.bretfrohlich.com/?p=639#comment-58 [...] Bret from BretFrohlich.com presents My Problem with Being Frugal. [...] [...] Bret from BretFrohlich.com presents My Problem with Being Frugal. [...]

]]> By: Bret Frohlich http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-/#comment-59 Bret Frohlich Fri, 10 Jul 2009 06:31:10 +0000 http://www.bretfrohlich.com/?p=639#comment-59 Len, Thanks a million for including me in your weekly round up. I love reading your blog. I'm a big fan of paying off the house early. I am about six years away and I am literally counting down the months. I learned this trick from my folks. They paid off their first two houses and rented them out to pay for their third house. Now, they are retired, living without a mortgage and collecting the rents from their first two properties. How great is that? I'm still really worried about all of the people with a pay later attitude. It just seems like the rich are preying on the working class and they are totally falling for it. Between the advertising and the easy credit, people are getting sucked into massive debt. Two great things that give me hope is the personal savings rate is way up and the new Credit Card Bill of rights law. I hope things get better and stay better for a while. Len,

Thanks a million for including me in your weekly round up. I love reading your blog.

I’m a big fan of paying off the house early. I am about six years away and I am literally counting down the months. I learned this trick from my folks. They paid off their first two houses and rented them out to pay for their third house. Now, they are retired, living without a mortgage and collecting the rents from their first two properties. How great is that?

I’m still really worried about all of the people with a pay later attitude. It just seems like the rich are preying on the working class and they are totally falling for it. Between the advertising and the easy credit, people are getting sucked into massive debt. Two great things that give me hope is the personal savings rate is way up and the new Credit Card Bill of rights law. I hope things get better and stay better for a while.

]]> By: Len Penzo http://hopetoprosper.com/my-problem-with-being-frugal/comment-page-1/#comment-57 Len Penzo Thu, 09 Jul 2009 03:01:15 +0000 http://www.bretfrohlich.com/?p=639#comment-57 Brilliant post, Bret! I remember when lots of people would scoff at me a dozen years ago when I told them that I was making extra principal payments in order to pay off my mortgage early - now a paid off (or nearly paid off) mortgage is bigger status symbol than a Beemer in the driveway. Go figure. You're right though, while I am glad people have finally figured out that buy-now-pay-later mentality is a loser's game, the pendulum appears that it may be swinging a bit too far. Just how much further it has to go has yet to be seen. I'll be highlighting your post in my weekly roundup at the end of the week! :-) My $0.02 (after taxes) Len Len Penzo dot Com Brilliant post, Bret!

I remember when lots of people would scoff at me a dozen years ago when I told them that I was making extra principal payments in order to pay off my mortgage early – now a paid off (or nearly paid off) mortgage is bigger status symbol than a Beemer in the driveway. Go figure.

You’re right though, while I am glad people have finally figured out that buy-now-pay-later mentality is a loser’s game, the pendulum appears that it may be swinging a bit too far.

Just how much further it has to go has yet to be seen.

I’ll be highlighting your post in my weekly roundup at the end of the week! :-)

My $0.02 (after taxes)

Len
Len Penzo dot Com

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