Life after the “expiration date.” How does thriftiness affect the economy?

I bet you are not worried about how you are going to make your next house payment.

Same here.  My main car (Hyundai) was bought brand new and is 9 years old and paid for.  My other car is a 1987 BMW convertible and it belonged to my father when it was new, then my sister drove it for a few years and I inherited it when she finally got a new car.  We've replaced the top and had it painted, etc. 

We eat at home, cook from scratch.  If I'm going to go out to eat, I want it to be really special and get my money's worth.  Spending $30 at a sandwich shop or $60 at a chain restaurant just ruins the experience for me.  Money can be nickeled and dimed away so fast. 

If I want something like a new gadget, I'll put money aside little by little to save until I can buy it.  That way it doesn't feel like it's taking a chunk out of my wallet. 

I have a budget for my business expense and I stick to it. 

I wasn't always this way.  I used to have the shopping bug.  I drove an expensive car that only ran well on expensive gas.  LOL!  Now when I see someone who has their closets stuffed with brand new designer clothes, my mind calculates how much $$$ they have invested in that. Yikes!

Things like shoes, I'll buy quailty.  If you have a good pair of shoes, you can take them to the shoe repair and get them reconditioned, resoled, or get the heels fixed.  Good shoes are more comfortable. It's less expensive in the long run. 

I splurge and reward myself now and then, but not very often. 

Cheap or thrifty?  In this economy, I'd call it being thrifty. 

Richard,

Thrifty is the new chic. And a nice and clean 10 year Miata is much smarter than a new one.

I am getting more and more thrifty every day.  Heck I used to get a new computer every year or so.  Right now I am using Windows 2000!.  However, I may break down and buy a new computer next month.

"Living within our means", is a subject I have recently had to take part of, and it is the best thing I/We have done. 

I LOVE NOT HAVING A CREDIT CARD!!!!  (of course I still have some CC debt, but hey I am working on it!)

SPEND SPEND SPEND! The more you spend the more it drives the economy. If everyone saved what they made our economy would grind to a halt. Or is that China's economy? I forget.  :-) 

I'm thrifty too.  But when I do make the puchase I usually wish I had done so earlier!

I believe in utilizing the entire life of the vehicle or whatever. Why spend when not needed? My next car will be a replacement VW Beetle...a vintage car.

Richard.....you are right on!

I do have a new car, only because I had a lease car that had to be turned in. And it you have to finance a used car, you get screwed with the interest rates. My truck is a 94 F-150 with 160K on it, and I baby her to make sure she keeps going. I might have some monies coming in the near future and will be on the hunt for a used car....but buying used scares the crap out of me....you never know when you may be getting someone elses problems!

I've totally changed by buying habits. Perfect example, my Gateway Laptop is 4 years old. Most people would of bought a new computer by now. Why? This one works perfectly. (Ok needs a new cd rom drive...) I'm thinking I'll even buy a new battery as the current one does not keep a charge. If a new computer is in the future, this one will be passed to my business partner, and I'll get the new one.

I take care of everything....,so it last longer!

Are you sure you're thrifty? We should get others opinions as most of the time the perpetual 'cheap skate' never thinks themselves as such.  I know that my sister still has her communion money as they say!

@Marte #87 - You can find your Toaster at http://madeintheusa.com/

Funny, after you suggested we should buy American, I thought what a great concept for a website.  A day late, and a dollar short!

My husband and I are followers of Dave Ramsey.  We don't have debt except our home.  All of our vehicles are paid off and we only buy things with cash.  No credit cards in our house!  And, when I lost my job in the manufacturing industry last year, we were okay.  When my husband was laid off last month, we've been okay.  Most people would have sunk in those conditions. We felt blessed.  He starts a new job on Monday and we've been fine.  Even though my new career isn't doing that well yet, we are still doing okay.  There is alot to be said for not spending more than you make and only buying what you need, or not buying too much of what you don't.  Good for you.

Over-consumption has been a North American way of life for decades. However, it isn't my way of life. I love the creativity that comes with a thrifty lifestyle. The opperative word in "make do" is, you guessed it, MAKE.

My car buying habits are great.  I buy a good car, pay cash and drive it for ten to fifteen years. Good stuff.

But when it comes to buying all those new gadgets and programs that are going to simplify our business (and then we never quite get around to using "the new, next best thing)".  I recently took a hard look at all those little bills that we get from ten to forty dollars a month and axed a lot.  Amazing how you can nickel and dime ourselves while thinking we are thrifty. 

I think being cheap (thrifty) is a quality that should be rethought. Cars should be well maintained so that you can get 10 to 20 years of good service out of them. Houses should also be thought of in the same way.

Clothes, however, need to be purchased much more frequently! Just kidding - but I do think that we can survive and have a great quality of life by using things until it seems that their usefulness is over.

I think being cheap (thrifty) is a quality that should be rethought. Cars should be well maintained so that you can get 10 to 20 years of good service out of them. Houses should also be thought of in the same way.

Clothes, however, need to be purchased much more frequently! Just kidding - but I do think that we can survive and have a great quality of life by using things until it seems that their usefulness is over.

I'm thrifty too. My vehicle has over 160K miles on it and shows no signs of quitting on me.  It's still in pristine condition so why replace it?  Perhaps if more people were taught how to be thrifty and learn how to fix something vs. throw it out and get a new one, the economy wouldn't be in the predicament it's in. 

Looks like you touched a nerve!  Those of us who think (mostly) like you, and those who don't, each side seems to be defending their money style.  For the most part, I believe each is a learned behavior and whichever a person chooses is fine, (so long as they can afford that second choice).  The biggest area of thriftiness for us is not living beyond our means in that all important purchase, our house!  After being convinced we could "afford" it, 25 years ago when we purchased our first house in a brand new neighborhood, we realized we could not afford paint to make it our own.  Five years later we "gave it away" with an assumable loan and vowed to never buy a house we could "afford" again, but below what we could afford and fix it up with the extra money! 5 houses later, we continue the trend. We drive our brand new cars until they die, generally with 200,000 or just shy on the odometer, buy new and repeat, but never have 2 car payments going at once! I don't think our style is bad for the economy, there are far too many people to whom a shopping trip is entertainment or something to do when bored...

Richard and all thinking of denying yourself and loved one of a loving memory and essential rest and relaxation, read Fernando again.  I know from experience. Life is too short to be ridiculously frugal if you have the resources to have the experience.  Your family will love you now and when you are gone.

There are some people that I would love to put out ot a job - collections agents! If we can be part of a cultural shift and fewer people will suffer the pain and embarrassment of losing houses, cars, getting taken to court, years of trouble, then 'YEAH' for the frugal.