Anyone here NOT need to pinch pennies, but pinch them anyway?

[HenDuck]

We have been extremely blessed in our financial situation. While we have always made a decent income and have managed to keep our heads above water, we have recently made a huge jump in our household income, thanks to some smart business decisions by DH.

My dear friend said to me recently, "You need to stop buying your clothes at Ross." Hey, what's wrong with Ross?

I also won't buy any clothes unless it's on sale (if I'm not shopping at Ross)...

I have also been pricing WDW resort rates. We can definitely stay at a Deluxe if we want to. But I can't get myself to spend the money! We have stayed in pool homes off-site in the past and when I compare one versus the other, I just can't spend twice as much to stay on-site.

My friend told me I'm just a penny pincher by nature.

Ok, I'm not cheap. I mean, we ARE going to WDW...it's not like we're going to stay at home and watch the grass grow for our vacation. But even with our finances being, well, good, I still can't splurge (or "upgrade" as my other friend calls it.)

Anyone else like that? And do your friends call you a penny pincher?

Just wondering...

 

[wearegoingtoDisney]

Well I can't say we are at the point where we don't have to pinch pennies but I do think I often pinch more than we need to. I just have a hard time justifying overspending. I am all about getting the best value for my dollar. For example we would probably be finacially ok if I didn't buy our bread at the outlet for 4 for $5 or if I didn't wait until chicken breast goes on sale for 1.99/lb and I probably could buy myself a shirt for full price once in a while without breaking the bank but I just can't. I find it wasteful. I understand where you are comming from. I often think about what I would do if I were really really rich...I still would not buy a fancy car as I really feel a car just needs to get you from point A to point B. I probably would get to go to Disney more often!!!

 

[canwegosoon]

Yes...my friends are shocked when I bring out coupons, and shop sales etc...
You should see the thanks I get from people in the market when I hand them a coupon I know I will not use for an item they have in their cart. Money buys choices, and I like mine to buy as many choices as possible!!! My friends can not understand why I don't have a landscaper and a cleaning person, but yet I own 3 homes and DVC...

 

[Toots]

When do you know if you really have enough? I'm a penny pincher also.

We have no debt, own our home and cars and pay off our credit cards each month. Evenso, it's hard to just relax and spend, especially without a coupon.

We could also afford a deluxe at Disney, but wouldn't consider it. I noticed once we started paying cash for our automobiles we really thought about how much they cost. Maybe it's the same with other things.

 

[disneyohana]

Some people think I'm silly when I am really careful w/my money on small things, but I will buy a big screen TV. They don't realize that that is how I can get big things once and a while. If you add up all the little dollars, you can afford the big things eventually. As for WDW, I do stay on site but at the Caribbean Beach. Even when we save up enough and even though we love the Polynesian & Yacht Club, I just can't spend the extra $150 to $200 a night.

 

[pearlieq]

DH and I are blessed not to have to scrimp to survive. I'm very, very grateful for that. Still, I'm very dilligent about our finances, and always looking for a bargain.

It's not so much that I pinch pennies all around (I'm not looking to turn into Howard Hughes) I just economize on things that are less important to me in order to get things more important to me.

For example: In terms of jewelry, I own my wedding set and one necklace. But I'm taking a last minute trip to Vegas soon. My MIL has so much bling she could pass for a rapper, but would never consider taking a vacation that didn't consist of driving to their local campground.

Everyone picks their own priorities.

 

[disneysteve]

I just economize on things that are less important to me in order to get things more important to me.

Everyone picks their own priorities.

I'm pretty much like the OP. We could spend a lot more on stuff, but choose not to because we see no point in doing so. If we are happy buying clothes at Wal-Mart and Target, why suddenly start going to Nordstrom's just because we could afford it? Yes, we could also afford a Disney deluxe, but we would be miserable crammed into one of those tiny rooms when we could be enjoying the luxury of an offsite condo with 2 bedrooms, 2 baths, a full kitchen, 3 TVs, etc.

I agree with pearlieq. We all have different priorities. Though we may shop for many things at Wal-Mart and other discount places, we will splurge and buy top quality on things that are really important to us.

We also have different goals. I want to retire no later than 62. That means saving a lot of money now. So I'm perfectly happy living well below our means now to allow us to afford our long-term goals.

 

[scmickeygal]

We are blessed to not have to live paycheck to paycheck. By no means are we VERY well off either, but we do well. I am not a penny pincher yet, but I like to save money when I can and I have found many ways on this board to do so, but I have also seen things and said "These people dont live or their giving up too much" I have figured out that I am going to be in debt basically all my life because I want to live a little bit, but I am grateful for what I have.

Sometimes convenience in this busy world is worth paying that few extra cents to me. I read once where someone steals the ketchup packets from restaurants and fills their ketchup container and never has to buy any. This to me is crazy because its too time consuming. I just want convenience sometimes.

I learned when we were in the army to wait to have kids because there are people out there that will NEVER see Disneyworld!! Man, can you imagine? NOw, I have a home, two cars and two wonderful jobs to raise my little one on. I am truly blessed.

Anyway, We don't have to, but we do save when we can, but not without living also!!!

 

[Anne34]

When do you know if you really have enough? I'm a penny pincher also.

We have no debt, own our home and cars and pay off our credit cards each month. Evenso, it's hard to just relax and spend, especially without a coupon.

We could also afford a deluxe at Disney, but wouldn't consider it. I noticed once we started paying cash for our automobiles we really thought about how much they cost. Maybe it's the same with other things.

I am exactly the same way!! I do buy more than I used to, but still can't justify spending the money for a deluxe resort or buying a car more than every 6/7 years.

We pay charge everything and pay off the bill at the end of the month. If the bill is large one month, I feel like we need to tighten our belts the next month (and we really have no need). I agree, some people are just penny pinchers.

 

[staceyfe]

For me, getting the most for my money has become so much of a habit, I don't think I could quit using coupons even if I won the Powerball. Saving money on lots of little items allows me to spurlge on other things that are more important to me. Plus, I'm like the OP, I can't see spending money on something that has little value to me just because I have the money to spend.

And a small side thread: today I found hair color on clearance at Target for $2.75/box. Well, I loaded up on 3 boxes and had 2-$2 coupons and 1-$1.50 coupon. So 3 boxes cost me $2.75. I was ecstatic. But the checker made a comment at the beginning of my transaction that I was "cheating", 'cause I was getting it on clearance and had coupons. Then, when she saw the total ('cause I only bought the haircolor and one 48 cent item), she said it was almost a sin. Well, she may have been kidding me, but I told her I always use a coupon for a clearance item if I have it. And I'm thinking to myself "I have more money in the bank because of it". It really sort of made me mad to be judged by a checkout lady for trying to save some money.

 

[kcrew]

Great to hear from others that think like me. I wonder, at what point can you "afford" a Deluxe, rather than a Value? How do people make that differentiation? I am paying cash for my upcoming stay at POP. I COULD pay cash for a stay at the Poly, but I just CAN"T....For me I just can't splurge when there is a reasonable, less expensive alternative. It's truly a physical thing for me...when I find a bargain I get a true adreniline rush when I find out I have overpaid for something I actually feel ill...

 

[sunshinegirl]

As I get older (31...LOL!), I think that I pinch pennies less but look for true value more. That is, I will not spend tons of time online looking for freebies, but when I see good ones, I will sign up for them. I do not clip coupons for groceries, but I always keep an eye out for things like buy one get one free meals or free kids meal nights at our favorite restaurants.

I also believe more in the "you get what you pay for." Some things are truly worth the money to me...like staying in the DVC so that our kids are in a separate room and we all get a good night's sleep every night. But that is just a total value judgment based on our family. On the flip side, I buy almost all of my family's clothes, including my own, at Kohl's and almost always when I have the extra 15% off coupons.

I think a big part of it is having scraped for things in the past, I almost feel guilty not scraping anymore. So I temper our nice vacations with modest cars, clothes, etc. It kind of creates a balance that allows us to reward ourselves for working really hard but at the same time stay grounded in the real world where you do (or SHOULD) have to work hard for what you get.

Tricia

 

[Tinker*Shell*Bell]

We are in the same boat as most of you. No real bills, montly pay-offs on the cards, and a really good income. But I still clip coupons, search for discount codes and free shipping offers. I will buy with a sale, coupons and a mail in a rebate (Colgate just paid me $2.00 for "buying" toothpaste and brushes.)

I spend when it is important to us (good stroller) or when it will be extra special (Ploynesian) but My clothes are from sales and the kids are too.

No shame in saving where we can. Money comes and money goes. I hate to think we'd ever be "there" again but one never knows.

 

[PolyHereWeCome]

OP - Yes, we're "penny pinchers", although I prefer to think of us as smart shoppers ("penny pincher" sounds so negative). We enjoy using coupons at the supermarket, love manufacturer's rebates (and freebies and overage), use internet codes for on-line shopping, hitting the sale and clearance racks, and researching big-ticket items (and even small-ticket items) so we can be truly educated shoppers.

It's powerful to be in control of your money, and we get pleasure out of making good buying decisions. We probably could afford to not use coupons, but why should I waste money? The only debt we have is our mortgage and we could pay that off easily, but at 4.75% plus tax advantage, we do better in the long-run by putting our money in stocks and bonds.

And as far as staying or not staying deluxe at WDW, to each his/her own -- For us, the Poly. has been a magnificent place to stay and completes the vacation. Staying off-site or value sounds like a real cost savings, but this is one area that we won't pinch on (but can't imagine ever paying rack rate).

 

[juligrl]

Yep, I'm cheap and I make no bones about it. Could I afford to not be cheap, yeah and we'd be alright, but I like getting good deals on things and clipping coupons. I figure with the money I save on the small stuff, we'll be able to justify the big stuff.

 

[Alice28]

I like just getting the most value for my money. For example, I *know* every month Target has a special on Pampers. So I buy that week, with coupons, and stock up. Why not? Saves me at least $5. I stock up when things are on sale. Maybe I don't *have* to, but it's just common sense to me. I refuse to shop at major department stores without the addt'l 10-20% off coupons they have practically every weekend.

However, we are still kind of in the stage of life where it's necessary to be frugal- we have 3 young children and rarely have extra money to splurge with. My MIL however is PERFECT for this topic. She is a millionaire a few times over, but she loves to shop at Ross, TJ Maxx, has her coupons, etc. But you know what- she and my FIL living like that all their lives is what helped them become millionaires! She splurges on things like massages and nice trips, but otherwise she lives pretty frugally.

 

[HenDuck]

Gee, I feel so much better hearing from other people who feel like me.

I have a girlfriend who is always telling me to "live for today" and that I "deserve it" by splurging on this and that. But she has $50k in credit card debt and no savings to speak of.

We are not misers, but we're not spendthrifts either. We do travel regularly, but we fly coach or on frequent flier miles. We like to stay at nice places that give us a good deal for our money (our fav near DL is Embassy Suites because you not only get a suite with two rooms, you get free cooked to order breakfast and a nightly reception!)

I think we're more middle-of-the-road kind of people and we'll probably always be so. I do hope to stay at a deluxe WDW resort some day, but not right now, when a pool house suits our needs better.

I asked the original question because you just never know what other people's situations are and you just shouldn't assume. Just because I drive a Toyota (as opposed to a Lexus, like my girlfriend mentioned above), doesn't mean that I have less in the bank or couldn't afford the "upgrade".

I'm so very greatful that things are looking good for us financially. I just don't see that as a license to spend more just to spend more!

Thanks again everyone!

 

[travelitis]

With the epidemic of overspending and growing personal debt, as I see it, the penny-pinching (within reason) is to be admired and emulated rather than criticized. Where is the glory in wasting your money no matter how much you have, anyway?

 

[DisneyMomJen]

We have been extremely fortunate over the past few years since my husbands income has increased considerably. Even though our income has increased, I do not feel like it has. I will ALWAYS use coupons with my rule - 'Goal should be to get an item as close to $0 as possible'. We own at DVC and stay in a 2 bedroom (4 kids) and deluxe resorts. My absolute favorite is the GF. But, the only way I feel that we can justify staying Deluxe or buying into DVC is with me paying for it through my Ebay sales and getting discounted rates! Otherwise, I would feel extremely guilty. I also see how some people just blow their money on 'little' things and then think they cannot afford go to Disney. Thes 'little' things all add up.

 

[barbeml]

DH and I live below our means for a number of reasons. I don't believe in paying interest (just on the mortgage), I enjoy the thrill of getting a good deal, and you never know what tomorrow will bring.

I know too many people who spend it as fast as they earn it and are completely unprepared when something bad happens: job loss, illness, 9/11 (which all but destroyed my brother's business).

In a week I start a new job which will almost triple my current annual salary. We already have retirement funded, a healthy emergency fund, etc. so I plan to open a couple of dedicated savings accounts: one for my only nephew and one for vacations.

It's all about balance and priorities. Because we pay ourselves first, we know we can spend what we want on things that matter to us.