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The Wolf Of Wall Street Is In Me

By Frugaling 4 Comments

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I dissociate somewhere between Donnie smoking crack in the back of a restaurant and Jordan stacking bills on bills in a safe deposit box. This is probably the fourth time I’ve seen The Wolf of Wall Street with Leonardo DiCaprio, so I pretty much know the entire film. I laugh on cue, but mostly drift into some sort of revulsion to the moneymakers’ debauchery.

Jordan, played by DiCaprio, chucks a wad of cash off the side of his yacht, and I fantasize about what would life be like if I were filthy rich. Something stirs inside me. I want that level of wealth and I don’t know why.

My life is comically dissimilar from Jordan’s. I’m nearing the end of graduate school, thinking about jobs, and constantly checking my bank account. The latter stands stronger than ever due to saving and scrimping, but it’s a measly sum. I’ll have a small amount of student loan debt to pay off, too. When I graduate, I’ll expect to earn $50-70,000 with my Ph.D. in hand.

Privilege allowed me to choose my career path. Early in my college years, I replaced business with psychology. The switch forever changed my earning potential. I just hoped psychology would allow me to help others in need — the money didn’t matter much.

Now, as The Wolf plays before my eyes, I struggle with two mindsets.

There’s the Jordan side of me. I want to travel. Iowa is killing me slowly with its lack of diversity and landlocked status. I want to be able to live in lavish places and decorate as I see fit. My minimalism borders on austere. I want to be able to buy, buy, buy. Every time I do, I feel this pang of guilt — I need to save that dollar. And I sure as hell don’t ever want to be in debt again.

Then there’s the modest, frugal person who writes these words. Iowa has been the perfect place to save, bike, and enjoy graduate school. I don’t care to have much. I don’t need to own, own, own. I don’t want my primary title to be “consumer.” I like being able to save, live, and give to others.

Maybe I’m dreaming of wealth because reality isn’t always easy. I’m moving out of an apartment complex I can no longer afford, paying off a hefty sum for a car, and living on a tight budget each week. Scrimp and save is often more challenging than earn and invest.

If I had the opportunity to make more money, I wonder how much I’d want. Would a million dollars in savings/investments suffice? Would tens of millions? Would a billion?

The mind seems capable of more. Always more. The mode is more. More than enough. More than the other person. More than you.

As the movie finishes and Jordan begins to unravel and lose it all, the director’s message is clear: money doesn’t buy happiness. You can still be a miserable millionaire. But the urge remains. How can the mind be so illogical and rational at the same time?

Filed Under: Make Money Tagged With: Billionaire, investing, Jordan Belfort, Millionaire, money, rich, saving, Stock Market, Wall Street, Wealthy, wolf of wall street

Frugal Articles of the Week

By Frugaling 5 Comments

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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!

Slow Cooker Chicken Ropa Vieja by Budget Bytes
This week I’m hoping to cook this special recipe up! Budget Bytes is one of my favorite frugal blogs because the author breaks down total and serving cost for all the meals. This chicken dish costs about $1.32 per serving. Heck yes, I’ll try it!

Living In An Expensive City Can Make You Richer, Happier, And More Diplomatic by Financial Samurai
Here’s a unique twist on the choice between big-city and small-town living. Sam reviews some compelling reasons for considering more expensive cities. One of the most interesting centers on the push and need for frugality in a bigger city with less space. Cities seem to be bastions for minimalism and simple living, and when done right, can still be affordable places to live.

Why Do We Like Brands As Much As We Like People? by Eric Jaffe
Do we love Apple, Coca-Cola, Microsoft, Pepsi, Google, etc? Can we love brands? If so, what does that mean for our spending habits? This article analyzes the very real effect that your love/like of brands has.

Millionaires Who Are Frugal When They Don’t Have to Be by Paul Sullivan
Frugality crosses income and wealth classes. It doesn’t mean that wealthy people can’t be frugal. This is a philosophy and way of life. Paul Sullivan from The New York Times perfectly highlights the trend of millionaires living well within their means.

Escape to Bro-topia by Steven Kurutz
Despite an abysmal, corny title, this New York Times article features one man’s simple life… in the trees. He built an incredible house in the forests of Oregon. Take a look at these pictures, too!

Filed Under: Save Money Tagged With: articles, brands, Food, Frugal, millionaires, Minimalism, Recipe, rich, Simple Living, Wealth, week

Shatter Your Definition Of Success

By Frugaling 9 Comments

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Tell me about successful people and you might be inclined to rattle off resumes. Perhaps these people work hard and make sizable sums of money. Maybe they are moving into multiple-thousand square foot homes with ample room. They could even have the prestigious title of doctor or chief executive.

In our highly individualistic society that hails “hard work” and “grit” and “responsibility” and “choice,” we learn early on what success looks like. Different cultures have variations of vocational prestigiousness, but many share in the desire to own land, property, and make more money than most. To be accomplished, one must follow this tattered path.

The ability to captivate through material possessions and titles is dangerous. Real success and accomplishment seems lost amidst this cavalcade of crap. Worse, these measures of success are not afforded to everyone. Minorities and those from disenfranchised backgrounds are not offered the same opportunities to “succeed” in these traditional ways. For example, faculty at institutions of higher learning are overwhelmingly white men, and that’s a problem for everyone.

Our ideas and definitions of success are decrepit. We need new measures, and we’re long overdue. If success cannot be afforded with greater equality, why do we continue to allow these narrow ideas to continue? What exactly are we doing with these antiquated ideals? Why do we trumpet individual achievement that only goes to consume and perpetuate inequities?

Society benefits in the propagation of materialism and consumption. And current measures of success conveniently fit this modality. Buy the home, buy a bigger one. Buy the car, buy a more luxurious one.

We need better, less financially dependent measures of successes. Education is out of reach for many. Material possessions are tired and tried methods of achievement. Income disparities are nearing Gilded Age levels again. Larger homes consume more fossil fuels to heat and cool. Luxury vehicles tend to burn through gasoline. And prestigious titles seem reserved for those born and ascribed status.

Just because “success” works for capitalism doesn’t mean it works for the collective. Let’s craft something a little different. Perhaps we can live in a world that defines success flexibly. Perhaps we can see success in the helping hand, time, and dollar given to anyone/someone in need. Perhaps we can see success in the mother that raises children who respect the planet and find ways to help others. Perhaps we need to break out from formal strictures that rule over our lives, and consider that consumption cannot equal achievement.

Disbanding this present thinking provides for a future with hope for the masses. Achievements needn’t be through prescribed methods and lists of prestigious professions. We need a world with janitors, plumbers, assistant to the assistant managers, and everything in between. We need a world where someone making $35,000 per year, retiring with little, but helping find foster homes for children is seen as a hero (and heck, would it hurt to pay that person a little more?).

Humans are incredibly creative; yet, we have allowed these to persist. We are flawed, but have great potential. It’s time to shed archaic messages. They were convenient for marketers, but harbored horrific messages to those who couldn’t meet the prescribed rules.

How would you define success? Who are your role models? What do you think about income, vocation, and education as measures of success?

Filed Under: Social Justice Tagged With: achievement, Career, Gilded Age, Income, Income Inequality, jobs, rich, Success, vocation, Wealth

Frugal Articles of the Week

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Every week I like to feature a few frugal articles that caught my eyes. Curl up in your favorite reading nook and enjoy. Hopefully these encourage you to live frugal lives!

The Keurig K-Cup’s inventor says he feels bad that he made it — here’s why by Drake Baer
Mmm… The smell and sound of a fresh pot of coffee brewing is the perfect way to start a day. For many, saving time during their morning routine is important. Years ago, an inventor thought of an ingenious way to make coffee faster, with greater variation, and in seconds. Unfortunately, that invention, the Keurig K-Cup, creates scary amounts of waste — all for about one cup of coffee per pod. What’s worse, the company charges atmospheric prices for the coffee and tries to prevent people from using their own cups with the product.

The slow death of the home-cooked meal by Roberto Ferdman
A frightening decline in home-cooked meals is occurring. Americans are eating out more, buying pre-packaged foods, and eschewing the frugal homemade items for something more. But that something more has a price. This is a trend we need to think about working on immediately. Eating out costs a fortune and many people can’t afford to do it — even if their bank accounts have enough cash.

How To Make Six Figures A Year And Still Not Feel Rich – $200,000 Income Edition by Sam from Financial Samurai
Today, I wanted to include an article that I don’t necessarily agree with. This article from the awesome writer of Financial Samurai analyzes what it means to be “rich.” Fundamentally, he asks, what does $200,000 a year get you and would you feel rich? While I disagree with his conclusions, I think this article illustrates the wide divide between wealth in this country. When someone can afford $8,000 a year in vacations and doesn’t feel rich, there’s likely an internal, psychological mechanism that’s askew.

France wants companies to make appliances that last longer by Associated Press/WashPo
What a novel approach! France is lobbying companies to make products that last longer. Simple, right? Well, companies rely on products expiring in regular intervals to allow for new products, consumption, and spending. This phenomenon is called “planned obsolescence.” We are consuming too much, as a country, people, and world. We need to cut back. One way is to build and buy products that will stand the test of time.

Filed Under: Save Money Tagged With: articles, Consumption, Food, Frugal, home, meal, money, rich, Save Money, Wealth, week

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