Ask the Readers: What Makes You Feel Rich While Being Frugal?
Published on - May 22nd, 2009 (by J.D. Roth) Earlier this week, Aaron asked whether repaying debt should be an obsession.
I replied that for some people, “gazelle intensity” makes more sense. (Trent from The Simple Dollar is one of these folks.) For others — including myself — it’s important to exercise balance, to allow a budget for fun.
Everyone who opts for a life of thrift can benefit from finding one or two things that make them feel “rich”. These indulgences don’t have to cost a lot of money — they just need to provide mental relief, an escape of sorts. While browsing through old conversations at Wesabe, I stumbled on a related question from Rebecca2Lexington, who asks, “What makes you feel rich while being frugal?”
Ok, let’s get some creative juices flowing and share with some great ideas to feel abundance while paying off debt. We have been paying down debt and staying on budget for several months now. Tell us about your mini splurges or thoughts are that keep you going.
This is a great question. It gets to the heart of what frugality is all about: establishing priorities so that you’re able to spend on the things that matter to you while ruthlessly cutting the things that do not. The 59 comments in the Wesabe discussion include suggestions like:
- Potluck dinners with friends
- “Spending the $10 to clean my car thoroughly, inside and out, but especially the inside.” (I know from first-hand experience that this is also a great way to kill the new-car itch.)
- Getting your hair done at a beauty school or getting a massage at a massage school.
- Debtkid says that a $2 firelog makes him feel cozy.
- Several people mentioned prepaying their mortgage or paying down credit card debt or contributing to mutual funds as actions that make them feel rich.
- Allese offered two great ideas: spending time outdoors and organizing her home. A clean home can make a huge difference in how you perceive your environment.
For me, food is an important part of my lifestyle. I’m able to cut back on clothes and books and entertainment, but I’m unwilling to economize on food. Why? Because when I eat well, I feel wealthy. Being able to spend $15 on my favorite pasta dish at Gino’s makes me feel rich even when the rest of my expenses are cut to the bone.
But one thing that has helped me feel richer than anything else: Quitting my day job. For the past 15 months, I’ve worked from home. I’m actually working longer hours than I did at the box factory, but I don’t mind. I have the freedom to go for a 6-mile run at 10 a.m. I can go to lunch with a friend. I can take a break to walk to the library. If I feel like taking a hot bath at 2 p.m., nobody’s going to stop me. Though I’m working long hours, the freedom to structure my life the way I want it makes me feel rich. And it doesn’t cost me a dime.
What about you? What makes you feel rich while being frugal? What mini splurges keep you going? What about cost-free ways to feel rich? I’m not looking for all of your indulgences — just the ones that make you feel as if you have a greater disposable income than you really do.
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This article is about Ask the Readers, Frugality, Psychology
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Buying things does not make me feel rich – it only stresses me out (although I do think that a budget for “fun” is really important).
What DOES make me feel rich is paying for an unexpected $500 car repair without a problem. Transferring a couple hundred dollars every month to my new ING accounts (emergency fund and car fund) makes me feel rich — it takes 3 days to post to the ING account but I keep logging on in between anyway, waiting for the balance to go up!
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Just having money in the bank makes me feel rich. One of the greatest feelings I’ve ever had was when I opened my first ING account and actually saw that first interest payment appear like magic at the beginning of the month. That first one was only $0.10 but it was the most significant 10 cents of my life. My first $1,000 in savings was another real confidence booster. At the time I wasn’t making much and I’d never HAD that much money before.
Not spending money on things other people I know do makes me feel rich. Knowing that I could afford whatever it is but choose not to while they are putting it on a credit card gives me a sort of confidence that is hard to explain.
When I do pay out a significant sum of money I love that I’m able to just pay cash. Buying an engagement ring for my girlfriend and telling the guy his pitch about financing wouldn’t be necessary felt good. Even paying my insurance each year in one payment feels good. Later this year I’ll be buying a late model used car and that will be a cash purchase, no loan or financing and I anticipate a good feeling from that as well.
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I love to print out and seek coupons for free and cheap things. When I redeem, I feel like I am treating myself, but for little cost. Right now i can’t wait to use the B1G1 coupons for Wendys frosties and DQ Blizzards! My twin sister and I ate for free on our birthday at Red Robin by joining their birthday club! After, we headed to Cold Stone for some free birthday ice cream. I love racking up the giftcards from my credit card points and mypoints.com for eating out and splurges. I work at a university and have particpated in several studies that have earned me giftcards. Right now I have over $100 in giftcards in my purse. I feel like I have so much to spend, and in reality I am spending so little! I FEEL like I can eat out and treat myself to things (rich!).
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Get outside. It costs nothing but gas, and the time is priceless, especially if you take the kids. We live in an area of extraordinary natural beauty, and whichever direction you point the Jeep it seems there is always a new road or trail or stream or peak that begs to be explored.
We’re debt free (except for the mortgage) and are raising seven wonderful children on one income. We have to be tight with money. Spending time with kids, who always seem to discover more than I saw, is a great way to enjoy life without spending a dime.
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Traveling the world as a family makes us feel rich. We have been doing it since 2006, but often it still feels like a dream to be on a permanent vacation.
I am still amazed that we can live so well on so little & actually live much cheaper by traveling the world, rather than staying at home.
I actually feel richer by having less things & I love seeing how luxuriously we can live on little. I have always enjoyed that.
I feel richer by focusing on experiences, love, relationships & simplicity rather than things or “stuff”.
We splurge by having lunch, coffee, high tea or just visiting and hanging out at wonderfully expensive places.
We sometimes stay at 5 star hotels which are fun splurges ( & we often get upgraded!) although we do it for just a night or two usually. We check in early and leave as late as possible and enjoy the hotel while there with things like room service.
We also splurge by staying at 5 star RV resorts in Europe ( that often include hotels, beaches, indoor and outdoor pools, restaurants etc) usually off season for longer stays at minimal prices ( like 10 bucks a night in June!).
We splurge by making lots of really delicious, high quality, healthy ( mostly vegan) food ourselves.
We splurge by doing fun things like riding camels, sail boat rides, horse riding etc at fantastic prices in countries where it is extremely cheap ( and beautiful) to do.
The list is really endless. What a fun focus!
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It’s been mentioned a few times, but I’ll reiterate:
I feel rich because I have made great strides in eliminating my wants. I have started to take great appreciation in the things I have. I may not have the nicest things, but when you take pride in what you have, people notice. Any jerk can go get a loan and buy a new car (well, maybe not anymore) but it takes someone special to actually respect that car and truly appreciate it. When you have that kind of attitude, people respect you, and that makes me feel very rich.
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Saving money for future vacations.
I’m still working on paying down debt, but I have a plan to do that without having to pay any interest.
Since I’m on track with my debt plan, I started putting away a good chunk of money from every paycheck for vacations.
I don’t know what vacation it’ll be used for, but it’s a great feeling to know that when the time comes for my next trip, I’ll be able to do it using only cash.
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To take the home cleaning responses a little further, we have a cleaning lady that visits our home twice a month. I know it’s a splurge that many people would frown on, but we have a pretty lean budget that we stick to and this is one of the few things that we allow ourselves. After a rough week of work, the feeling of coming home to a clean home after a long week of work (she comes on Fridays) is absolutely awesome.
Having the ability to pay for this is what makes us feel rich. It’s only around 100/month (small house) and it supports a really nice girl who works hard to support her family.
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Every morning and every afternoon I drink a cup of gourmet coffee. I buy it from a warehouse store. It is more expensive than the national brands but costs way less than buying it from a coffee shop.
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Buying a new book every now and then when I want to read one.
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Wine. There’s something about sitting on the couch at the end of the day with my husband, drinking a glass of wine, that makes everything okay.
In Dec, we bought a case of a Texas wine that we LOVE (about $12 a bottle), and every time we drink that, we feel so fancy.
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Jamba Juice! I have cut my miscellaneous fun spending budget way down, but I still have 2 or 3 Jamba Juices a month. I love that stuff and it is expensive. I know I could make something very similar at home, but I love going there and seeing all the wonderful, delicious choices and being able to buy one if I want.
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First, I love reserving books at the library and then picking them up when they arrive -feels like shopping!
Second, scheduling my mornings (even on some workdays) so that I can lie in bed for five or ten minutes before getting up. I listen to the birds, NPR, pet the hungry kitties, think about my day….not rushing makes me feel rich.
Last but not least – giving. I love doing my taxes each year and seeing that my giving goes up each year. Its only 2% of my income now, but I keep figuring out ways to do a little more, while I also work on debt.
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This is a great question! Our tiny budget and my constant desire to travel didn’t seem to mesh well… until our friends and family gave us camping gear. Now we can stay at stunningly beautiful places for less than $20 per night in our spacious tent and our cozy sleeping bags.
Also, when we can’t go camping, there are tons of free and cheap things to do in the summer here in Chicago: the Art Institute has two free nights a week all summer, we just scored free orchestra tickets through my work, and there are super-cheap lawn tickets for concerts at Ravinia (plus the train to get there is cheap!). All those weekend music festivals downtown are “free”, too, if you don’t buy the overpriced food and drinks there.
Finally, enjoying a home-cooked meal with some good discount wine can be just as nice as a restaurant… except nicer, in a lot of ways, because it’s just the two of us, we can serve ourselves seconds, and we don’t have to look at a bill at the end of the meal!
Enjoying art, music, and good food, and visiting new places with my wonderful husband makes me feel rich.
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Grilling a nice steak in the backyard, washing it down with a cold Sam Adams lager, and finishing it up with a Rocky Patel after dinner. Not exactly cheap, but cheaper than dining out. Remember: balance.
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Having paid off cars makes me feel rich. DH wants to sell mine and get a minivan. I am not going to give up my paid off car!
I love good food too. DH cooks some fabulous, low-cost dishes at home, especially Asian and Central American foods. We have the spices on hand, since we eat a lot of those types of food.
And, I feel rich when I make what could be considered a gourmet treat from unusual ingredients. This week I made some Cushaw Squash Chocolate Chip Nut muffins. Can sound and taste fancy, but it was mostly to use up some squash in the freezer! And my daughter and I made some chive cream cheese, using chives and pretty purple chive flowers from the garden. Making things special lets me feel rich.
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I shop at an “upscale” grocery store which is known for being ritzy and expensive. Except they have great clearences, especially on meat, and I’ve gotten to know the butcher who keeps things aside for me and lets me know when specials will be coming up. I’ve gotten filet mignon for 2.99/lb and New York strip for 1.99 among other great finds. Nothing like eating steak once a week to make you feel rich. And being greeted by name by the very nice butcher and then given special packages is kind of fun too!
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Richness/happiness has come to be equated with convenience. I know people in third world nations do not have the conveniences the developed nations have….but on the same token they are not controlled by a watch the way developed nations are. They have a richness of life which we tend to dismiss, and a sense of community far greater than many in developed nations will ever experience. The sad thing is most of them are losing this togetherness and sense of community once they assimilate the Western culture of dog eat dog.
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Richness/happiness has come to be equated with convenience. I know people in third world nations do not have the conveniences the developed nations have….but on the same token they are not controlled by a watch the way developed nations are. They have a richness of life which we tend to dismiss, and a sense of community far greater than many in developed nations will ever experience. The sad thing is most of them are losing this togetherness and sense of community once they assimilate the Western culture of dog eat dog.
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Although I don’t recommend owning a boat as a way to exercise frugality, there’s something about spending a couple hours sailing on the river, pulling into dock and snacking on the tuna sandwiches and soda we packed. It makes me feel like an adventuress.
Our boat isn’t half as big or nice compared to some of the other sailboats in our area, but we probably get twice as much fun out of it. I’m guessing some of these folks spend so much money on their boats, they are afraid of messing it up. Why buy the best if you aren’t going to enjoy it?
Something that doesn’t require a boat – a really good cup of coffee. There’s a local coffee shop that serves sensational lattes and scones. I like them because they are a locally owned shop, not Big, er.. Starbucks.
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3-day cruises! They’re usually under $200, and I also have a rewards card I use to pay bills (I pay it off each month) that will discount the cost further, e.g. my last cruise was $83 after cashing in my miles. Since I don’t drink, my additional expenses (gas to the pier, tips, 1 meal in port) are generally under $100 total. Two of these a year make me feel like a high-roller!
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For me, it’s buying used books on Amazon.com for just a few cents plus shipping costs. While it’s not free, like using the library would be, it’s still dirt cheap and as fun as Christmas morning to open your mailbox and see a new book.
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drinking peaty single malt scotch. i’ll cut my dinner down to ramen before i switch from scotch to bud light.
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I am very frugal, but my mental state makes me feel rich every day.
First, I intellectually acknowledge that I AM RICH. Nearly everyone in America is rich by virtue of living here and therefor having way more than 90% of the rest of the world, way more than we need, and more than anyone is entitled to. Even most poor Americans have housing, modern appliances, a car, cell phones, internet. This is not so in most of the world. I try to focus on needs versus wants and how all of my true needs are met.
Second, being frugal makes me feel rich because I love the FREEDOM that comes with having savings and being financially responsible and in control. I don’t worry about the economy or being laid off, because I know I can support myself for long enough if I lose my job and I know that I can withstand the short-term economic wave we are in. I love the freedom of knowing that I stay at my job by choice — again, if I wanted to quit and do something else, I have the savings to support taking time to find a new job. I love the freedom of being able to travel and even take months or a year off to travel (in cheap countries) when I desire. All of this is worth being frugal day-to-day and not blowing money on random things that don’t truly make me as happy as freedom.
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My treasured paid for luxuries: a good haircut, theater tickets, hockey tickets, voice lesson, choir dues, sheet music, travel.
Other free/inexpensive things: being able to take a few minutes away during my work day to make cookies with the kids, pick up/drop off the kids from school, family suppers, camping, hiking.
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1) Contributing to my 401(k) at work. I just started this maybe two months ago, I bit the bullet and decided on 10%. Soon I adjusted and forgot that I was contributing that much. I love looking at my paystub and seeing that amount go up every week.
2) Investing in quality clothing. I do pay more up front but I’ve stopped wasting money on lots of cheap, poorly-crafted clothes and instead I have just a few really nice, well-fitted pieces. Even though I only have 5 nice tops, I love them and I love how I feel when I wear them.
3) Fun money! My MIL gave me this tip and it has saved my budget! I’m starting a new envelope today to hold bits of my fun money for a new cashmere sweater for fall (summer is the perfect time to buy, you can get them for 50-60% off or more).
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Knowing that I can get a Master’s Degree at a reputable private university without going into debt because my spouse and I can live well and easily on a portion of his income.
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Having a zoo membership makes me feel wealthy. Spending a week in Florida on my reward miles made me feel wealthy, even though it rained 4 out of 7 days.
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Although not formally trained, I’m an excellent cook. I enjoy my own cooking a lot, as do all of my friends and colleagues. Serving and eating a good meal made from quality ingredients helps me feel rich.
Watching my 401(k) savings grow is also very satisfying. I’m very blessed to have employer matching which nearly doubles the amount saved with every paycheck.
And finally, exercising voluntary simplicity in all areas of my life . . . having enough money, stuff and time for things that matter . . . is when I feel the richest. It’s not about deprivation, it’s about having what works for me and not needing the latest convenience item or flashy fad.
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I was shopping at Walmart a few weeks ago for some cheap photo frames to hang on our bare walls.
The couple checking out in front of me was trying to buy some cough medicine and other cold remedies for the young lady. Unfortunately, their check bounced and they didn’t have any other form of payment.
I’ve been there before, remembered the pain of not having a reserve for emergencies and decided to pickup their tab. They were surprised and very greatful. Even though I’m not a very wealthy person, I felt good about myself, and I felt wealthy.
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For us, I think the ability to make choices and take advantage of opportunity makes me feel rich. Even though we still have debt that we are paying off, we were able to build enough of an emergency fund that my husband was able to take a new job. He’ll be working for a company that he likes, we’re able to move back to Portland, and all without having to worry about transition expenses. It does feel odd though, because I remember when having to pay $200 to rent a trailer would’ve given me a heart attack.
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Paying off my debt and building my EF make me feel happy, smart, responsible, and in control. They give me deep satisfaction, but they do not make me feel ‘rich’. I mentioned wine earlier, but also theater tickets (we bought a season subscription at a local theater, and it averaged out to $10 per person per show, about what we’d pay to go to the movies, but so much more satisfying. And it really does make me feel cultured and indulgent to go). Buying produce at the Farmers market rather than at WalMart, a little more expensive but so much tastier. Getting a good craft beer, maybe a dollar more per six pack than Budweiser, but so much better…
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Having a job and being in good health makes me feel rich. Because without either one on of these, it could put a dent in our savings.
Looking at the philosophical side of it:
Reading all our comments, I think we have got accustomed to having the feeling of being rich/happy dependent on some other(material) thing. Its like , if I have this- I am rich/happy. I think we need to move away from this kind of thought process and feel rich/happy every moment because our stay here is only for a short while.
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I agree that having an emergency fund makes me feel rich (and secure). My husband had a big fall off a ladder the other day so I’m pretty sure we will have a number of ER bills coming our way. I’m not worried though since we have a pretty hefty emergency fund. Others have made comments though like “oh is your emergency fund more than $1000?” Uh, yeah.
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I agree with the earlier comments about wine. There is nothing that makes me happier than snuggling up with my husband on the couch, opening up a bottle of wine and talking about our day. We got a subscription to Wine Spectator with my airline miles points and use it as a guide to finding good deals on great tasting wines.
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hi.
iknow “with gazell intesity” from Dave Ramsey.
I live in Sweden and ILOVE dave ramseys book”the total money makeover” it have change my life.you dont have to have debt to read his book ,he teaches you so much else.
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Wow! There have been some truly amazing comments left in response to this blog post.
I feel rich when I spend time with my family and friends. No matter what we are doing together (though camping is a favorite), being with them is what makes me feel truly happy.
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Having retirement accounts and no non-mortgage debt makes me feel wealthy. One of the ways I don’t obsess about frugality is to look at/create a Balance Sheet of our personal finances just once per month. If my spending goes out of whack for a while, I’ll notice it then and can still correct it before it causes serious problems, but I don’t have to think about it daily. Seeing the debt go down and savings go up over the years is really motivating to me to continue my frugal spending habits, while reinforcing the feeling that I’m on the “rich” side of the spectrum.
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Playing a Friday night, home-grown dice game with my friends where the prizes for winning are 1 dollar scratcher (gambling) tickets.
Everyone buys a few tickets to donate as prizes for winning an individual game. The whole gaming time takes about 2 to 3 hours depending on luck, number of ties, and number of breaks.
It is fun and though cheap, one gets to dream of winning a grand or two.
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An unstructured day or weekend of solitude. I adore my loved ones, but to have a long stretch of peace and quiet at home, with the cat, reading, writing, napping, gardening, cooking a simple meal for myself, having my morning cup of tea on the porch, watching a great movie (from the library) in the evening, then sitting outdoors at dusk…just letting all of that unfold and not having to watch the clock, go anywhere, speak to anyone, or answer the phone is pure bliss.
I also feel extremely satisfied when my life is in order – the bills are paid, house clean, laundry done, work caught up at the office, kids and husband relatively happy, and something creative is in the works.
Where I live makes me feel rich. We are fortunate to be in a quaint town that is walking distance to a new farmer’s market, cute antique shops and boutiques, a tea room, a chocolate cafe, the library, wonderful bakery and coffee shops, a gorgeous park, Wilbur chocolate factory. We can take a 5 minute stroll to Main Street and have a coffee or get some organic fair-trade chocolate.
Our community also has a lot of free events. Second Fridays of the month the shops stay open late, there is outdoor music and other activities, art shows, a chocolate walk, all kinds of things throughout the year. Even if we don’t partake of all these things, having them nearby and seeing lots of positive community activity makes me happy. Even if we had to move to a small apartment to stay here, I would do it. I would gladly sell the house and most of my possessions to stay in this area if it came to that.
And once we’re out of debt, I will be working on having more of those unstructured days at home.
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Being able to recognizing and have time to enjoy things that don’t cost money that are more important than laying down cash for whatever.
O.K., if I have to spend money, go to my favourite bookstore and buy a new book price unseen, but first of course, stopping by the library and picking up a copy for free. But now I am allowed to buy two books from my favourite bookstore but only if I stop at the library first. But now ….
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I feel rich when my house is clean and clutter free and I have time to sit down in the middle of a weekend afternoon to read a book and sip a sparkling lemonade.
It is simple, but is in keeping with the way I view money. I feel richest when I use my money to buy myself time. I feel more rich when I have time than anything else.
(Also, I usually read the GRS RSS feed and hadn’t seen the new site – looks great! : )
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High-quality (600 thread count), freshly-laundered sheets. They are utterly luxurious. But, thanks to Costco, they are not ridiculously expensive. Ours are 6 years old; we paid $70 for each of two sets. That’s $25 a year, or so, for sleeping like a queen every night.
Also, quality appliances that work the way I want them to, when I want them to. Having a toaster oven that doesn’t have to have the door held closed to toast, a washer and dryer that work regardless of what I dump into them, a car that starts when I turn the ignition, a vacuum cleaner that actually sucks up dirt, dust and dog hair, or a sharp, balanced chef’s knife that actually fit my hand are luxuries I haven’t always had. Each time I use one of these frequently-used tools, I feel pampered, even though none of our things are “prestige” items. They’re just carefully chosen and well-made.
Finally, visiting our local library makes me feel rich. All that knowledge at my fingertips, and all free. When I walk through those doors, I feel like the possibilities in my life are endless.
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Being able to travel is what keeps me frugal. There is nothing like getting out of the house and into the great outdoors. I love visiting new and exciting places. When I travel I find a great mix between frugality and splurging and have the time of my life.
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The taste of the foods I’ve grown myself — they just do taste better, somehow.
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Making amazingly good home made pizza. We buy quality products but save a lot by making it ourselves. Over the years of practice we have perfected it. So we still get our favorite food once a week even though we are frugal! Same with my homemade mochas. Found great freshly roasted beans at our Costco and splurge on Dove chocolates! Much cheaper than buying it out but I still get the daily enjoyment!!!
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Being able to use normal airlines rather than budget ones. For the past year I’ve used Lufthansa because of the better connections and because no budget airlines fly from where I’m living at the moment. It isn’t particularly frugal but if I used the other option I not only add a hell of a lot of time and stress getting to the airport but it’s also only about £50 difference both ways.
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After the passing of my husband I didn’t think anything could make me fell as wealthy or as wonderful as he did. He could make me laugh through the worst of times.
We would camp, fish, picnic, or just stay at home and snuggle.
I am blessed to have had him in my life!
Now (8 months ago) I became a first time grandmother…what a absolute thrill!!
I feel so blessed, so wealthy, because we are all healthy.
We get together when we can, and of course grandma spoils the baby.
I can’t afford a lot, but help out when and where I can.
I save, to spend it on little things for the baby.
I even treated mom and dad for a night out so I could have some grandma time with
my grandson.
So for me, I know how precious time is, and time with my family and friends makes
me feel like a millionaire.
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I love my firelog! It adds such a splurge ambiance to my living room, and for $2 it’s often worth it.
Also, my other favorite splurge is a chocolate frosy and a large fry from Wendy’s. Healthy? No. Delicious and cheap? Heck yes.
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Wine. Expensive candles and body wash/moisturizers. Could I be any more girly? I enjoy these things because I know I can afford them because I am living on a budget and saving $ every month.
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