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Frugal Articles of the Week

By Frugaling 4 Comments

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I’m back with another terrific group of articles! The following share the themes of simple living and frugality. As an avid reader and writer about personal finance concerns, it’s interesting to see how reading more helps me focus on my goal of a better budget and savings. Hope these help you, too!

Thoreau, the First Declutterer by Danny Heitman
Have you ever read Walden by Thoreau? Well, if not, it’s about time! Thoreau is widely considered one of the foremost frugal fans of all time. He decided to move into a small cabin — isolated from much of society to write and reflect. In this article, the author points out how Thoreau modeled his life and can offer inspiration to others.

The Cloud Generation: No Longer Buys All The Things by Sheree Joseph
As technology has enabled people to forego physical clutter and fill cloud storage, minimalism is growing increasingly mainstream. The benefits are twofold: we’re buying and polluting less. Older generations have shown some hesitancy to trusting the cloud, while the younger, “Cloud Generation,” seems to be making the move in droves.

Stop Buying in Bulk by Eric Holthaus
It can be appealing to get 200 hot dogs, 20 bottles of ketchup, or a monster-sized jar of nuts. Big-box wholesalers such as Costco and Sam’s Club have made great businesses out of bulk sales. The math is generally simple: when you can buy more, you save more per item. But research is showing that we might not be saving as much as we hope.

The Best Waterfront Property Is Your Tent by Katie Jackson
This might be my favorite article over the last couple weeks. In a twist on tired travel guides, Outside Magazine proposes a waterfront property that isn’t yours to keep. But you’re welcome to have it tonight. Camping is one of the best ways to affordably travel, explore, and see the world.

Filed Under: Save Money Tagged With: articles, Bulk, camping, Cloud, Frugal, Thoreau, weekly

Was Albert Einstein A Minimalist?

By Frugaling 10 Comments

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Albert Einstein Laughing

Let me preface this essay by saying I’m not a “genius,” “theoretical physicist,” or “great thinker,” but I decided to pick up Einstein’s biography to learn about someone who’s been called all three. In 2008, the famed biographer and writer, Walter Isaacson, published Einstein’s story in a whole new light. His book catalogues the many triumphs, tribulations, and everyday struggles of the man who has become so revered.

As I read this 704-page tome, the very essence of Einstein came alive. Isaacson is a skilled writer, but he was homing in on something unique about his main character. Einstein extolled and lived for a simple life.

Albert Einstein is remembered for his brilliant discoveries in the field of physics. Without going too far into the weeds, he theorized about relativity and gravity. He felt they overlapped and coalesced. For instance, that light would bend in travel because of the sun’s gravitational pull. At the time, these were maddeningly complex ideas with little experimental support. Despite the novelty and unknowns, he stuck his neck out — time and time again. He didn’t bend or sway to convention, and it ultimately made him famous around the world.

Throughout the book, Einstein is heralded for derision of power, authority, and status quo. Even greater, he seemed to attack the fundamental strictures and culture of materialism. It’s clear that his simple living values made him a better, more unique thinker. Without a doubt, Einstein was an early pioneer for minimalism in the face of excess. And here are 5 reasons how he was a minimalist:

1. He idealized simple lifestyles

Einstein was fascinated with bohemian living. Even in early letters to his first wife, he professed that they shouldn’t ever be trapped by society’s expectations. He seemed to love the idea of eschewing what so many wanted. Einstein loved bohemianism, as he found creativity and passion in literature, music, and science. He commingled the three and crafted magical mental imagery of difficult physical constructions. Self-described bohemians were countercultural, just like the beatniks, hippies, and hipsters of generations to come.

2. He disliked bourgeois pursuits

He consciously avoided upper class trappings. This is captured perfectly by a quote in the book. When traveling to another city, he stayed on an office couch instead of a hotel. His friend said, “This was probably not good enough for such a famous man, but it suited his liking for simple living habits and situations that contravened social conventions.” Fame didn’t mean he would suddenly change his way of living. The rebel inside him allowed for success.

3. He gave away much of his wealth

He feared that fame and wealth might affect and degrade people’s ability to live creatively. Einstein gave generously and even dedicated all the Nobel Prize winnings to his first wife. He didn’t crave wealth, nor did he live by its swings. Einstein enjoyed good coffee, cigars, and conversation. Money allowed for those staples, but otherwise was relatively unnecessary. The power of wealth could’ve purchased many conveniences and statuses, and yet he downplayed its ability. Take this passage from the book: “From Prague, Einstein took the train to Vienna, where three thousand scientists and excited onlookers were waiting to hear him speak. At the station, his host waited for him to disembark from the first-class car but didn’t find him. He looked on to second-class car down the platform, and could not find him there either. Finally, strolling from the third-class car at the far end of the platform was Einstein, carrying his violin case like an itinerant musician.”

4. He ignored conventions

Much like the Mark Zuckerbergs of today, Einstein didn’t follow social norms for dress. Comfort was the more important factor. His hair grew unruly in later life. It was iconic for him, as he was this renowned genius, but I believe that this was a subtle rejection of cultural mores. Einstein wanted to show he was unique in both thought and modest dress.

5. He took time for independent thought

Above all, Einstein’s genius was in his ability to isolate and focus. For days and weeks at a time, he could hole up in his study and work. He didn’t eat regularly, nor did he pay attention to much around him, but in that solitude, he solved some of the greatest questions of all mankind. His habits often made him cold and cantankerous, but it also cultivated a lifelong independence. Simple time alone was vital to discovery.

I’m nearly finished with the book, but these discoveries were too hard to hold back. I figured I’d share them with you as soon as I could. Within these passages, quotes, and stories, I see a man that feared the trappings of privilege. He was a social advocate, scholar, and seeker.

In a way, I wonder if I share something with Einstein: a fear of ever having more than enough. I fear what money can do, and how some people embrace elite statuses at the cost of others. If Einstein were alive today, I’d ask whether he feared he might lose his creativity if he lived more lavishly. My guess is that he would say “yes.”

Oh, one more thing, read his biography: Einstein: His Life and Universe.

Filed Under: Minimalism Tagged With: Albert Einstein, counterculture, Frugal, Income, Life, minimal, Minimalism, money, Physics, Simple Living, Universe, Wealth

5 Common Myths Of Frugality

By Frugaling 8 Comments

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The word “frugal” is frequently synonymous with an unflattering list of words. The most common one I’ve heard is “cheap.” But what I’ve noticed is that when words like that are thrown around, they often represent a stereotypical idea of frugality. People who’ve adopted a frugal mentality might balk at those descriptors because they tend to discount, under-appreciate, and confuse this philosophy around money.

Every now and then I like to revisit the definition of frugality, as it bears repeating. This time, I figured I’d address a snapshot of the many myths I regularly hear regarding this way of living. The following are five popular assumptions/myths that people tend associate with frugal living.

Myth 1: Buy the cheapest products possible

If someone has a surface-level understanding of frugality, they tend to assume that I shop for the cheapest everything. From shampoo to razors to coffee to cars to bikes to phones, the myth is that frugal people scour the world for the cheapest option every time.

In reality, I tend to shop for the top and work my way down. I try to understand what the “best” products are selling and see if I truly “need” what they’re offering. Similarly, I search for similar abilities in more affordable products. Who wouldn’t want to save money and get the features of a more expensive product?!

Also, cheaper products don’t always pay off in the long run. Various problems can occur from poor resale values to early failure. I have two examples that come to mind. In both of the following instances, long-term planning pays off better than short-term savings.

First, disposable, plastic razors are one of the cheapest ways to shave upon looking at the face value. But these razors don’t last as long, rust quicker, and do not shave as closely. In total, that actually results in spending more money over time. How anti-frugal!

Second, a cheap Windows laptop might cost $400 to $500. Again, on face value, this seems cheaper than an Apple laptop for $900. It takes a critical eye to parse apart the savings. For starters, an Apple computer is more reliable and powerful than the ~$450 Windows computer. You’re paying for that though, so not very frugal yet. The real cost savings comes with resale value. Because of the power and dependability, Apple computers retain their total value for longer periods of time. That $900 purchase price degrades at a lesser percentage each month.

Myth 2: Never pay full price

This one is tricky. No one wants to pay full price for anything. Sales, deals, coupons, and special savings entice us. I promise, they affect my buying and likely sway you, too. Grocery stores and malls are full of these opportunities. Heck, some of us wait for weekly ads to make our purchases!

In the end, we hate paying full price so much that we will spend countless hours over our lifetimes scoping out deals. But the frugal person doesn’t necessarily focus on the sale to buy a product. The key is buying it consciously, with intention, and through savings — not credit. Being a frugal consumer means avoiding purchases because of sales. Sales shouldn’t be the catalyst for purchases.

When you focus on a new item for purchase, it’s important to consider the place it has in your household. New shoes might be vital to your job. Rather than focusing on the “savings,” concentrate on the value. What shoes will stand the test of time, be comfortable, and limit future purchases?

Like before, the full-priced option may actually be better than the sale deal. Evaluate sales carefully. End of year or last year’s models might actually be a great deal, though. The point is, this myth is reductionistic and oversimplifies the complicated task of staying frugal.

Myth 3: Avoid adventure

Personally, I never want my frugality to be boring, limiting, or burdensome to trying new things, experiencing cultures, and developing a greater appreciation of the world around me. While yes, travel tends to be expensive, there are ways to adventure and take advantage of the world around you.

Perhaps it includes attending a free concert or talk at a local university/library. Perhaps it means taking a long bike ride around your city. Perhaps it means strategizing a bonus miles credit card to reduce ticket costs.

Regardless of the method, travel and adventure can be made more frugal. It takes forethought and planning. While many people buy tickets on a whim or whenever they’re gearing up for a flight, frugal people tend to find dates earlier on and book tickets then. The savings is often greater further away from a flight date.

Even more, the frugal philosophy necessitates a new definition for adventure. It seems that many people associate spending money with “fun.” The reality is far easier. We needn’t spend money to enjoy life. Adventure is right out your door — all it takes is a perspective change and appreciation of the world’s natural offerings. Hike, run, read, walk, chat up a future mate — whatever!

Myth 4: If you must eat out, tip poorly

The more brutal stereotype of frugality states that we tend to cut costs everywhere we go. If we eat out, we’ll likely tip poorly because that’s an opportunity to save.

Frugality needn’t be at the cost of others. In fact, that’s an ethically dubious version of this cost-saving and life-affirming philosophy. Savings shouldn’t undercut another way of living or punish others. If you’re a poor tipper and don’t recognize that servers don’t make much as an hourly wage, you should avoid eating out altogether because that’s the more frugal option anyways.

Most of the time, I tip about 15 to 20 percent for good service. If it’s bad… Well, all rules are off. Eating out is a treat for me — rare compared to the amount I eat in. When I do treat myself, I try to be respectful to those serving me, as well.

Myth 5: It’s hard to maintain

We are not born into a world that advocates for frugality. Choosing this lifestyle takes years of relearning and backtracking. Surrounded by advertisements and marketing for products we likely could avoid or go without, we are not accustomed to avoiding purchases. In that sense, it can be challenging to initiate frugal living.

Once you’ve started living with less, reduced spending becomes more habitual and quotidian. It’s all about relativity. When spending is reduced gradually over time, the cuts are less effortful. Then, when you reach a basic level of spending, maintenance can occur.

This stage requires less consideration for purchases and decisions. Maintenance doesn’t require rethinking spending patterns, reformulating grocery lists, etc. All you need to do is continue at the same rate and frugality will be yours!

Every now and then, opportunities to buy something will crop up despite your maintenance, and you’ll feel the pull to purchase. When that occurs, it’s important to recognize what motivates your frugal life. Why did you start living frugally in the first place?

Frugality is a philosophy and way of living. And many of the myths and assumptions that people carry about frugality are wrong and/or exaggerated. It’s bigger than simply spending less. It is a conscious philosophical decision to save money where you can to enjoy what you love.

Filed Under: Save Money Tagged With: adventure, cheap, flying, Frugal, frugality, living, myths, philosophy, Products, Travel

Frugal Articles of the Week

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Last week I took a little break from the frugal round-up. Sorry Frugaling fans, but I’m back and have a terrific list of favorite reads over the last couple weeks. Hope you enjoy and share widely!

The Millionaire Pitcher that Lives in a Van [Video] by VICE
Daniel Norris isn’t like most star athletes. Heck, Daniel Norris isn’t like most people. With around $2 million in the bank from a baseball contract, he could be living well; at least, fancier than he does today. In the off-season, Norris takes to his VW camper van and lives, cooks, reads, and travels in the tiny enclosure. I love this guy’s story, and it’s neat to get a little tour of the camper.

What Would Happen If We ALL Stopped Paying Our Student Loans, Together? by Jennifer Schaffer
Growing numbers of graduates and students are doing something rash and potentially harmful to their credit score: they’re purposefully defaulting on student loans and refusing to pay them back. Regardless of your feelings about defaulting on loans — whether right or wrong — the rise in this behavior speaks to the broader context and problem. Student loans are over $1 trillion! A TRILLION! This is unsustainable and harmful to the greater growth prospects in America.

Pope Francis, in Sweeping Encyclical, Calls for Swift Action on Climate Change by Jim Yardley & Laurie Goodstein
Thursday, the Pope and Vatican released a 184-page document cataloguing the reasons why climate change is of utmost importance and what we need to do about it. The Pope talked about consumerism, throwaway culture, and how the victims tend to be those in the Southern hemisphere.

The Health Benefits Of Early Retirement Are Priceless by Financial Samurai
Consider this, working life takes a toll on people. Many are overworked and underpaid, and the stress of being in difficult jobs adds a terrible weight. The Financial Samurai points out the many rewards of early retirement (if it’s possible).

Filed Under: Save Money Tagged With: articles, Catholic Church, Frugal, Millionaire, Retirement, Student Loans, weekly

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