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Speaker 1: Welcome to How the Money. I'm Joel and I am Matt,

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Speaker 1: and today we're asking the question, are you frugal or

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Speaker 1: are you cheat? Joel, I am extremely pissed because my

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Speaker 1: credit score dropped like a hundred points a couple of

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Speaker 1: weeks ago. Whoa dude, Like, what happened? Yeah? So, no joke,

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Speaker 1: A hundred points. I had an account. I still have

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Speaker 1: an account with a credit union because credit unions are awesome, right,

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Speaker 1: we love credit unions. You love credit unions. I love

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Speaker 1: credit unions. A lot of good reasons to like credit unions,

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Speaker 1: mostly because a lot of times they offer great rates

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Speaker 1: and their products are really affordable. They're not charging higher

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Speaker 1: fees like the big banks are. They also don't have slick,

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Speaker 1: easy to use websites like big banks do. That is true.

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Speaker 1: That is probably the biggest flaw of the credit union model.

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Speaker 1: And on that note, uh, you know, I've got a

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Speaker 1: payment with the credit union and I got confused because

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Speaker 1: this was a new payment for me, and I had

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Speaker 1: thought that I had slid the money over. I don't know,

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Speaker 1: I just got confused. And all I know is that

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Speaker 1: there was a five dollar payment that I owed the

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Speaker 1: credit union. I transferred the money from my online checking

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Speaker 1: account over but you hadn't actually completed the payment. But

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Speaker 1: it's still sitting there in my standard credit Union account

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Speaker 1: and I didn't make that final move to then move

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Speaker 1: it from there directly to the account because you can't.

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Speaker 1: You have to use that account as like a middleman.

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Speaker 1: You can't pay it from my online checking account. So

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Speaker 1: now you're like deadbeat when it comes to credit scores. Yes, yeah,

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Speaker 1: so that went about two months. I think it was

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Speaker 1: before I actually realized what was going on. Yeah, man,

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Speaker 1: here's the thing. You just made me executor of your will. Right,

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Speaker 1: we might be regretting it now. We just talked about

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Speaker 1: this last week because I'm really meticulous when it comes

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Speaker 1: to payments and details and all that kind of stuff.

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Speaker 1: But I freaking got sloppy and it slipped through the

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Speaker 1: cry acts and my freaking credit scord dropped on herd

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Speaker 1: points now because that a miss payment. So what did

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Speaker 1: you do that? So what tactics does uber podcast hopes

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Speaker 1: Matt used to to fight back against this credit cord?

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Speaker 1: So also, now I've got it listed next to my

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Speaker 1: standard payments that I've got on my calendar. I've got

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Speaker 1: my calendar reminders just to remind me to make the payments,

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Speaker 1: and that one wasn't on there again because it was

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Speaker 1: a new payment. So now it's part of my regular lineup.

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Speaker 1: It's it's something I checklist off, I go down every month.

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Speaker 1: But I mean, the reason I wanted to mention that

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Speaker 1: was because credit unions, like we said at the beginning,

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Speaker 1: they're greats. However, it might take a little bit of

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Speaker 1: doing your homework and making sure you know what's going on,

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Speaker 1: make sure you know how to make your payments. In

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Speaker 1: this case, dude, it was only five dollars that I

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Speaker 1: didn't transfer over properly. Five bucks. Yeah, that's a huge bumber.

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Speaker 1: I feel like there's I feel like there should be

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Speaker 1: things in place for when it is something that's super small,

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Speaker 1: especially for a credit union who's all about their members

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Speaker 1: and you know, essentially a credit union is a co op.

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Speaker 1: That's part of the reason the credit union is so great.

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Speaker 1: They're there to serve the members. The members are essentially

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Speaker 1: part owners in the credit union. It's a beautiful model

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Speaker 1: and so you know, it's not like a big bank

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Speaker 1: where they can just say sorry, you screwed up, you

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Speaker 1: didn't abide percent by the rules we put in place

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Speaker 1: and we're paying. Yeah, we're digging you majorly. But I

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Speaker 1: feel like with the credit Union it should be different.

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Speaker 1: And I'm not sure if you tried to bark up

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Speaker 1: the customer service tree there, but if if I were you, man,

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Speaker 1: I would Yeah, you're probably right. I should maybe accept

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Speaker 1: that they didn't charge me anything. Right, So the credit Union,

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Speaker 1: I didn't get hit with any fees. They just reported

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Speaker 1: it and it actually I don't think it affected my

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Speaker 1: ability to uh procure credit because just last week I

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Speaker 1: went ahead and applied for another sign up bonus card

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Speaker 1: because that's how I roll, and I got approved, so

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Speaker 1: like the master of those things. So I think maybe

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Speaker 1: it's it's gonna be okay and I'll still get my

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Speaker 1: my big old sign up bonus after hit my spending

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Speaker 1: quotas with a new card. Yeah, and you know your

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Speaker 1: credit score, it's beautiful thing how it can kind of

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Speaker 1: bounce back pretty quickly. Yeah, So if you have made

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Speaker 1: a bungle like that, like everyone's missed a payment at

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Speaker 1: one point or another, right, dude, I'm not perfect, all right, listen,

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Speaker 1: all right, not cool man, step your game up. You're

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Speaker 1: disappointing our listeners. Just kidding all right, So if you

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Speaker 1: if you have ever missed a payment or I want

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Speaker 1: to figure out how to improve your credit score. Matt

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Speaker 1: and I we did an episode on that episode number ten,

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Speaker 1: so feel free to check that one out, because, yeah,

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Speaker 1: credit scores are They're kind of like a game in

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Speaker 1: a lot of ways. And and sometimes you lose a

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Speaker 1: life and then you gotta jump back on and got

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Speaker 1: a power up dogs your game together, right, So, and

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Speaker 1: I feel like that episode for us, that's like the

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Speaker 1: game Genie right to get your credit score? Uh did

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Speaker 1: you use the game Genie back in the day. Heck, yeah, dude.

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Speaker 1: I always had mixed feelings using it because as soon

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Speaker 1: as you use it, you know that, all right, I'm

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Speaker 1: basically cheating, you know. It's it's just not the competition

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Speaker 1: or the difficulty, isn't it. It's just not there. Yeah,

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Speaker 1: something about its bothered me. It prevents like the replayability

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Speaker 1: of a game, because once you beat it, you're kind

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Speaker 1: of done with it. So yeah, it's it's kind of fun.

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Speaker 1: Like I feel like my friend had one, and I

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Speaker 1: go over to his house and would beat a game

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Speaker 1: the same here I didn by that crap. Yeah, George.

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Speaker 1: But then I go back home and I play my

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Speaker 1: games and just struggle big time. It's the thrill of

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Speaker 1: the chase man. Exactly, yeah, exactly, all right, Matt, Let's

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Speaker 1: tell folks what we're having on the show today. This

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Speaker 1: is the first we are having a Rattler, which is

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Speaker 1: technically not beer, right, well, it's part beer, beer and

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Speaker 1: part juice essentially, uh and so part of what makes

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Speaker 1: it so delicious and sweet. Agreed. So what we're having today,

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Speaker 1: and we'll tell you a full review of this beer

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Speaker 1: at the end of the show is Stiegel Rattler. Can't

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Speaker 1: wait to drink this and then let you guys know

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Speaker 1: how it tastes. And I'll say, real quick, the reason

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Speaker 1: we're drinking this is because my mother in law left

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Speaker 1: it in our fridge. Sorry, Kath be over the weekend

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Speaker 1: and I like to be frugal, and so we're gonna

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Speaker 1: drink this on this episode. What we're talking about, are

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Speaker 1: you frugal or are you cheap? She's gonna be so

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Speaker 1: bummed when she comes back looking for her refreshing beer

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Speaker 1: in the fridge not to be found. I think she

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Speaker 1: knows that anything left in our fridge is just fair game.

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Speaker 1: All right, So Matt onto the topic at hand. Are

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Speaker 1: you frugal or are you cheap? And there's a temptation

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Speaker 1: to become cheap when you're looking to get your finances

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Speaker 1: in order. I know that was the case for me

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Speaker 1: early on, especially you know, in my early twenties, just

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Speaker 1: being a cheap skate really and we would encourage people

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Speaker 1: to choose frugality over being a cheap skate. And so

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Speaker 1: let's kind of get into how those schools that thoughts differ,

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Speaker 1: what we think the differences are between a cheap person

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Speaker 1: and a frugal person, and then kind of how people

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Speaker 1: can tell the frugal line as opposed to that cheap

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Speaker 1: skate line. Also too, I don't think it's difficult for

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Speaker 1: people to want want to not be cheap. Right when

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Speaker 1: you're cheap, it's got a negative connotation, like people don't

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Speaker 1: want to be cheap. And I think that's one of

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Speaker 1: the things that hopefully we'll kind of get to on

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Speaker 1: this is that how do you be frugal without being

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Speaker 1: like the cheap guy? Crossing that line? Yeah, because who

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Speaker 1: wants to be cheap? Who wants to be considered the

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Speaker 1: cheap guy or the cheap girl whatever, nobody, And I

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Speaker 1: think that keeps people from being frugal and sort of

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Speaker 1: pursuing being frugal and trying to find ways to save

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Speaker 1: money because they think, well, I don't want to be

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Speaker 1: the cheap scale, like I don't want I don't want

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Speaker 1: to be that guy. And so I think there's a way. Yeah,

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Speaker 1: like we said, to be frugal and for that to

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Speaker 1: be sort of this admirable thing for to pursue while

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Speaker 1: at the same time keeping being cheap kind of out

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Speaker 1: arms length. Yeah, I think that's true. And I think

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Speaker 1: frugality has kind of actually become kind of cool. At

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Speaker 1: least it was maybe a few years ago. I feel

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Speaker 1: like it's cool now maybe it's cool. Yeah, there's like

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Speaker 1: a new wave of people being frugal. If it's not,

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Speaker 1: we're gonna make it cool again. All right, So, Matt,

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Speaker 1: before we get kind of too far into it, we're

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Speaker 1: already kind of using these terms, let's kind of give

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Speaker 1: a quick definition, and so let's start with cheap. Yeah,

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Speaker 1: So if you're cheap, all that you care about is

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Speaker 1: getting the cost down and nothing else matters. You're just

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Speaker 1: focused on the numbers. You're focused on keeping your expenses low,

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Speaker 1: and so from a decision making standpoint, being cheap is

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Speaker 1: just really crazy easy because again, all you're considering are

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Speaker 1: the numbers. It's just an easy button. You're comparing all

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Speaker 1: your costs and all you have to do is pick

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Speaker 1: the lowest one. Right. Yeah, but you can already see

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Speaker 1: how maybe that model might fall apart the faulty exactly

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Speaker 1: is right, Yeah, So yeah, tell us about frugal. So frugal, Yeah,

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Speaker 1: if you're frugal, it's more of a question of value

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Speaker 1: than just about the lowest price, and so it's a

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Speaker 1: little bit harder to make the decision of whether something

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Speaker 1: is a good purchase or not if you are frugal,

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Speaker 1: because you have to weigh more than just that price factor, right,

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Speaker 1: You're you're weighing the cost against the value that it

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Speaker 1: brings to you as an individual. It's a little more

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Speaker 1: of a balance. So just quick example, you might buy

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Speaker 1: something that a piece of clothing that you plan on

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Speaker 1: wearing for ten, fifteen, twenty years that you think is

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Speaker 1: a good value versus buying the cheapest possible item of

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Speaker 1: clothing that is going to last for a season. Right,

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Speaker 1: And so that's kind of just a quick understanding. Maybe

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Speaker 1: of cheap versus frugal, When you're balancing the cost versus

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Speaker 1: your value, is what you're valuing are just the different

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Speaker 1: all the different aspects of your life, whether that be

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Speaker 1: how much time you have or how much energy, not

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Speaker 1: physical energy, but also to just your mental energy and

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Speaker 1: the amount of things that you're able to kind of

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Speaker 1: keep in your mind, like the different deals you're able

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Speaker 1: to juggle, but even down to the relationships. We're gonna

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Speaker 1: talk about that a little bit later on. How do

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Speaker 1: cost in the amount that you spend, how does that

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Speaker 1: affect relationships, and even down to your beliefs and sort

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Speaker 1: of the ethical the more ethical questions. These are all

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Speaker 1: things that are sort of in the balance between money

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Speaker 1: and then all these other things that you value, and

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Speaker 1: you have to find out, you know, where is the

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Speaker 1: perfect balance for you. Yeah, and I think they're going

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Speaker 1: to be probably a lot of examples that will kind

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Speaker 1: of kind come out during this show, because that's one

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Speaker 1: of the easiest ways to reflect that dichotomy, that difference

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Speaker 1: between being frugal and being cheap. So, for instance, one

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Speaker 1: thing I wanted to bring up Matt is, you know,

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Speaker 1: I know there are a lot of people that boycott

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Speaker 1: the band, shopping at a place like Walmart because maybe

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Speaker 1: you know, pay they pay their workers a lower wage,

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Speaker 1: and shopping at a neighborhood store or someplace in your neighborood,

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Speaker 1: supporting local businesses, maybe paying a little bit more and

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Speaker 1: shopping somewhere that is that is close by. Um, buying

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Speaker 1: from your neighbors essentially is a meaningful experience. Yeah. So,

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Speaker 1: I don't necessarily want to make a judgment right here,

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Speaker 1: right now about whether you know, shopping locally versus shopping

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Speaker 1: at a big national chain is you know, frugal or cheap,

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Speaker 1: bad or good, But it is something that you should

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Speaker 1: think about as you're kind of creating your own definition

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Speaker 1: as well, and hopefully by the end of this episode

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Speaker 1: you will have a good definition to kind of hold

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Speaker 1: up decisions in your own life and decide whether it's

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Speaker 1: frugal or cheap for you. Yeah. Man, So, for an example,

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Speaker 1: we like to keep our heat set at sixty one

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Speaker 1: degrees Burskey, which is pretty chilly at night. That's why

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Speaker 1: I'll spend the night anymore, dude, And so I'm willing

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Speaker 1: to pay what it takes right to stay comfortable at night.

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Speaker 1: I like to be warmer than sixty one degrees. But

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Speaker 1: that means for us keeping our beds warm or our

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Speaker 1: rooms warm, not necessarily the entire house. And so the

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Speaker 1: default sort of thought processes, oh, I'm cold, let me

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Speaker 1: turn up the temperature on the whole house. But to me,

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Speaker 1: that's just wasteful. I will say. Emily tells the story

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Speaker 1: of growing up my wife, and she says they used

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Speaker 1: to chant and her dad don't be cheap use the

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Speaker 1: heat because you wait way too long in the season

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Speaker 1: to turn it on. And and I'm sure living with me,

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Speaker 1: she has echoes of childhood in that. But I think

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Speaker 1: that is a good that's a that's definitely a common

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Speaker 1: thing that people battle about, the battle of the premise

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Speaker 1: that right, like folks are walking by and turning and

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Speaker 1: pushing it back. That's like the kind of thing you

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Speaker 1: do in college where it's just this passive aggressive, like

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Speaker 1: the nudge it over does the time of it and

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Speaker 1: I'm gonna they're gonna nudge it back. And and one

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Speaker 1: person's frugal is another person's cheap. Yeah, I think probably

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Speaker 1: most folks would hear this and think, how the crap

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Speaker 1: do they survive in their house? I mean, and I

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Speaker 1: work from home, you know, we bundle up, and to me,

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Speaker 1: that's just a way for us to be frugal. An

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Speaker 1: example for me that people will probably think it is

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Speaker 1: super weird is that I reuse my plastic ziploc bags

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Speaker 1: and so, I know, you know, some people have said, well,

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Speaker 1: you should use plastic wear instead and wash it, but

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Speaker 1: I just really like the convenience of plastic bags with

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Speaker 1: a little zippy Yeah, but I just reuse them for wicks.

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Speaker 1: So I'll put apples in the same zip block bag

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Speaker 1: every day for weeks and then I'll finally move on

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Speaker 1: to another one. Same thing with like the almonds I

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Speaker 1: take for lunch every day. Um, And I don't see

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Speaker 1: any problem with that. I like using the bags and

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Speaker 1: it just makes me feel good about less waste and

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Speaker 1: also wasting less money. Yeah. Man, that's a little bit weird,

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Speaker 1: but it's good. And so being frugal takes some thought

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Speaker 1: and obviously these are things that we've thought about, but

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Speaker 1: sometimes we fail. And there's ways that we think we

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Speaker 1: can save money. We think we can be frugal, but

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Speaker 1: in the process of trying to be frugal and save money,

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Speaker 1: we end up being cheap. We cross the line, which

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Speaker 1: is not the goal at all. And uh, you have

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Speaker 1: an example to share with us, Oh, I sure do.

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Speaker 1: All right, this is one I will never live down

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Speaker 1: and still actually is currently in existence. Uh so that

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Speaker 1: we are reminded as a family of my poor decision.

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Speaker 1: And it was at a house that we lived in,

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Speaker 1: um that is currently a rental house. I was putting

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Speaker 1: in ceiling fans where there were there was just a

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Speaker 1: light in the ceiling, and I put in ceiling fans, uh,

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Speaker 1: to help cool things down to the sum or right.

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Speaker 1: We live in a in a hot town, and so

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Speaker 1: I put in I got found a really good deal

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Speaker 1: on some ceiling fans, brand new from home depot. But

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Speaker 1: it turns out they were really really small. They had

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Speaker 1: like the super super short blades, like a twelve bench

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Speaker 1: blade likes something like that. It's like utterly ridiculous. It's

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Speaker 1: like the little propeller had on a on a dude,

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Speaker 1: a little kid. Yeah yeah, so, um it just looks

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Speaker 1: silly up there and it just doesn't really turn much

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Speaker 1: air in the bedrooms. Wait do you still have them? Yeah,

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Speaker 1: they're still there. Oh I didn't know that. I thought

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Speaker 1: you ended up taking them back, you know, so my

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Speaker 1: tenant doesn't really probably appreciate those fans. But so that

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Speaker 1: was a frugal fail. And I realized that you actually

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Speaker 1: installed this. I remember seeing like you pulled them out

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Speaker 1: of the box. I remember seen them sitting in your

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Speaker 1: the dining room. Uh, this is several years ago. I

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Speaker 1: did not realize you actually installed those. They're still around

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Speaker 1: and and so really that that's a frugal fail on

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Speaker 1: my part. That's me crossing over from frugal to cheap

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Speaker 1: because I chose something just for that initial price and

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Speaker 1: I didn't think about the value or lack thereof, that

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Speaker 1: it would provide for the long term, right, and and

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Speaker 1: so that those are just crumby ceiling fans that don't

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Speaker 1: do the job that I wanted them to do over

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Speaker 1: the long term. And it's I mean, my wife brings

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Speaker 1: it up often, like once or twice a year. She'll

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Speaker 1: bring it up. Remember those healing fans you bought? And

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Speaker 1: yes I do. And I'm telling everyone now thanks for sharing, man.

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Speaker 1: I love that story. It feels like confession. Well my

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Speaker 1: confession time. So we love bikes and Joel, you remember

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Speaker 1: I used to have that cargo bike with a box

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Speaker 1: up front. That's right. Yeah, yeah, So it's the it's

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Speaker 1: like the Dutch style cargo bike, and so it's a

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Speaker 1: cargo bike, and what that means it's just got a

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Speaker 1: cargo area in the front of the bike for in

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Speaker 1: our case, our daughter would sit up there and I

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Speaker 1: could put groceries and all sorts of stuff. That was awesome. Well,

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Speaker 1: in my case, I went for the cheapest possible version

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Speaker 1: of that bike that you could buy. And by that

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Speaker 1: I mean there are some guys in Texas that we're

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Speaker 1: making these out of scrap bike parts and they would

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Speaker 1: basically just hack together these like Frankenstein cargo bikes, and

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Speaker 1: the welding on them were terrible and they weren't at

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Speaker 1: all engineered to be safe. And Dude, from the very beginning,

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Speaker 1: I had problems with that thing, like I would break

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Speaker 1: and it would shim me like like it would do

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Speaker 1: the speed wobble sort of thing. And from day one

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Speaker 1: I immediately regretted the decision. And the reason I did

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Speaker 1: was because I was only looking at cost. I just

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Speaker 1: wanted that style of bike because I essentially kind of

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Speaker 1: was infatuated with it to fill in love with it,

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Speaker 1: and the really nice ones are the normal ones, I

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Speaker 1: should say, we're thousands of dollars, like two or three grand,

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Speaker 1: and I didn't have that much money, and I thought, oh, Man,

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Speaker 1: for bucks, I get something that looks a lot like it,

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Speaker 1: except it wasn't even really that fun to ride. It

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Speaker 1: wasn't even that safe, you know, with the whole sort

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Speaker 1: of shimming going on. And ultimately I ended up selling

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Speaker 1: that selling that bike for several hundred less. It's a

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Speaker 1: guy who was very happy to buy it because he

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Speaker 1: was a welder and he knew how to fix it.

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Speaker 1: But in my case, Man, there was a huge fail,

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Speaker 1: huge fail. I ended up paying like the freight shipping

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Speaker 1: to to ship that thing all away from Texas. I

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Speaker 1: feel like, man, that there's a lot of cheap fails

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Speaker 1: that I could late claim to here on this podcast episode. That,

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Speaker 1: especially early on in in my you know, wanting to

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Speaker 1: be financially secure, wanting to cut my costs and do

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Speaker 1: better with my money, there were just so many poor

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Speaker 1: decisions I made, uh, And they were along this line, right.

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Speaker 1: I hadn't learned the boundary of frugal verse cheap, and

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Speaker 1: I came down on the side of cheap far too often,

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Speaker 1: and ultimately, man coming down on that cheap side actually

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Speaker 1: cost you more in the long run so much of

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Speaker 1: the time, but we're too shortsighted to realize it. Just

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Speaker 1: like with your bike, Just like with my ceiling fan,

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Speaker 1: right it's gonna cost you more in the long run.

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Speaker 1: I got to replace those fans at some point, and

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Speaker 1: you had to sell your bike for a loss because

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Speaker 1: it was just a carming product. And so I think

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Speaker 1: that's a big part of the decision making that we

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Speaker 1: have to factor in, is is this decision that I'm

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Speaker 1: making just uh to get the lowest price right now

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Speaker 1: is actually going to come back to bite me in

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Speaker 1: the end. Yeah, man, that is an awesome example. But

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Speaker 1: after the break, we'll cover some guiding principles that can

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Speaker 1: guide you along when you're making some purchases to determine

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Speaker 1: whether you're being cheap or if you're being for goal.

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Speaker 1: All right, man, we're back from the break now. We're

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Speaker 1: gonna talk about some different principles that we feel can

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Speaker 1: guide you. Like we said, when it comes to determining

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Speaker 1: whether you're being cheap or whether or not you're being frugal,

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Speaker 1: you're gonna kick it off, yeah man. Principle number one,

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Speaker 1: cheap people are thinking about short term benefits while frugal

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Speaker 1: folks are playing the long game. It turns out that

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Speaker 1: being cheap can actually cost you more in the long

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Speaker 1: run because you have to buy more things more frequently.

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Speaker 1: And so, just like we were talking about Matt right,

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Speaker 1: the short sided bike purchase, it costs you more in

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Speaker 1: the long run because you have to ditch it. You

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Speaker 1: lost money on that, you bought another bike For me.

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Speaker 1: An example I can think of clearly is the way

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Speaker 1: I used to buy jeans versus the way I currently

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Speaker 1: buy jeans. I would buy the cheapest H and M

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Speaker 1: or old Navy jeans I could possibly get. They were

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Speaker 1: twelve dollars, fourteen dollars on sale, whatever they were, but

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Speaker 1: they just didn't fit right. They seem to quickly start

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Speaker 1: to fit irregularly, And now the jeans I buy are

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Speaker 1: more like fifty bucks. But they last four years and years,

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Speaker 1: and I love wearing them and I wear them every

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Speaker 1: single day of my life. So that to me is

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Speaker 1: a frugal purchase. You know, I know the genes that

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Speaker 1: I like. Now I wait for them to go on

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Speaker 1: sale and I buy those particular genes. I'm surprised you

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Speaker 1: don't have to buy your jeans that like the big

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Speaker 1: and tall store, Like, what's your leg length? Is it really? Yeah?

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Speaker 1: That's not that long. I know, that's weird. I was

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Speaker 1: expecting to be like thirty six or thirty eight or something.

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Speaker 1: I am freakingly tall, and that's true. But now I

398
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Speaker 1: can get away with thirty four length, which is which

399
00:18:36,320 --> 00:18:38,280
Speaker 1: is nice you'd like to wear where those high waters.

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Speaker 1: Another application, dude, of that makes me think of our

401
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Speaker 1: old to our old car before we got the van,

402
00:18:42,720 --> 00:18:46,560
Speaker 1: was we had a v dub that was turbo had

403
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Speaker 1: a turbo charger. It makes it sound like it was

404
00:18:49,119 --> 00:18:52,000
Speaker 1: like pempt out or something like that. Wholl exhibit calm down.

405
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Speaker 1: But with that mentho is that we had to get

406
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Speaker 1: special oil. And by especially it just I mean we

407
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Speaker 1: had to have like a synthetic oil. And so if

408
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Speaker 1: we didn't maintain that vehicle and spend the money every

409
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Speaker 1: old change to make sure that we had synthetic oil,

410
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Speaker 1: that was gonna end up costing us big time in

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Speaker 1: the long run because it would create this like oil sludge.

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Speaker 1: And so that's the an example of going cheap right

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Speaker 1: in the in the short term, only looking at the

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Speaker 1: cost in the near term would have cost us huge

415
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Speaker 1: down the road. Yeah, So if you're trying to decide

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Speaker 1: whether you're being frugal or cheap, think about principle number one.

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Speaker 1: And if you're only considering the short term costs as

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Speaker 1: opposed to the potential long term benefits, then you're probably

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Speaker 1: being cheap, that's right, man. Principal number two. Cheap people

420
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Speaker 1: are often trying to avoid spending money altogether on anything, right,

421
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Speaker 1: or they load up and they buy just too much

422
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Speaker 1: crap with you know, that sort of it's on sale,

423
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Speaker 1: the Black Friday mindset, whereas frugal folks are willing to

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Speaker 1: spend on the things that they care about. And so

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Speaker 1: what I mean by that then, is that if you're

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Speaker 1: not being mindful of the things that you're spending money

427
00:19:53,040 --> 00:19:55,680
Speaker 1: on your purchases, and you're just trying to spend as

428
00:19:55,760 --> 00:19:59,000
Speaker 1: little as possible all the time, chances are you're being

429
00:19:59,080 --> 00:20:02,760
Speaker 1: cheap and you likely aren't even really enjoying life. If

430
00:20:02,760 --> 00:20:04,720
Speaker 1: you're frugal, you tend to spend money on the things

431
00:20:04,760 --> 00:20:07,760
Speaker 1: that actually bring you joy. Yeah, I feel like cheap

432
00:20:08,119 --> 00:20:12,120
Speaker 1: is possession accruel. Right, how much of cheap things can

433
00:20:12,160 --> 00:20:14,640
Speaker 1: I amass? And it almost kind of can turn into

434
00:20:14,680 --> 00:20:17,760
Speaker 1: a hoarding type mentality, right, Like how many TVs can

435
00:20:17,800 --> 00:20:19,280
Speaker 1: I have? If I get them all on sale? I

436
00:20:19,320 --> 00:20:22,320
Speaker 1: can have a lot, But really, how many how many

437
00:20:22,359 --> 00:20:25,320
Speaker 1: TVs do you really need? Man? Exactly like five of

438
00:20:25,320 --> 00:20:27,240
Speaker 1: them in your house and you just want one more?

439
00:20:27,520 --> 00:20:30,879
Speaker 1: Yeah that's a weird thing. Yeah, no way, man, And

440
00:20:31,000 --> 00:20:33,359
Speaker 1: so I've got one TV. It's actually funny. I was

441
00:20:33,400 --> 00:20:35,679
Speaker 1: talking I did buy my TV on Black Friday like

442
00:20:35,760 --> 00:20:37,680
Speaker 1: nine years ago or ten years ago with my buddies.

443
00:20:38,000 --> 00:20:40,280
Speaker 1: But we're just texting about it just the other day

444
00:20:40,359 --> 00:20:43,000
Speaker 1: about how our TVs were still lasting and it's still

445
00:20:43,040 --> 00:20:45,320
Speaker 1: the only TV that we have in our house. And

446
00:20:45,400 --> 00:20:47,320
Speaker 1: even that, man, sometimes I think about getting rid of

447
00:20:47,320 --> 00:20:50,400
Speaker 1: it all together because just a time sucks sometimes. But yeah,

448
00:20:50,400 --> 00:20:52,760
Speaker 1: I think people should think a little bit more like that,

449
00:20:52,840 --> 00:20:54,640
Speaker 1: not how many more TVs can I get when they're

450
00:20:54,680 --> 00:20:57,119
Speaker 1: on sale? But how can I spend money on the

451
00:20:57,160 --> 00:20:59,600
Speaker 1: things that bring me joy as opposed to just with

452
00:20:59,640 --> 00:21:04,560
Speaker 1: that Black Friday mindset? Oh it's off, I get a deal. Yeah,

453
00:21:04,720 --> 00:21:07,280
Speaker 1: But the best deal is not spending money on things

454
00:21:07,320 --> 00:21:10,280
Speaker 1: that you don't actually need. Right. So I would recommend,

455
00:21:10,359 --> 00:21:13,639
Speaker 1: especially in advance of the Black Friday shopping season to

456
00:21:13,840 --> 00:21:16,159
Speaker 1: take stock of the things that you're really are on

457
00:21:16,200 --> 00:21:19,120
Speaker 1: your shopping list and think about finding deals on those

458
00:21:19,160 --> 00:21:22,160
Speaker 1: particular items, not just buying whatever pops up and whatever

459
00:21:22,200 --> 00:21:24,879
Speaker 1: seems like a good deal in the black Friday ads, right,

460
00:21:24,920 --> 00:21:27,360
Speaker 1: because that's cheap just trying to buy as many possible

461
00:21:27,400 --> 00:21:29,720
Speaker 1: things as you can. Yeah, Cheap people are all about

462
00:21:29,960 --> 00:21:32,800
Speaker 1: being able to say how much they got their item off.

463
00:21:32,880 --> 00:21:35,120
Speaker 1: It's like, man, I got this thing for seventy off.

464
00:21:35,160 --> 00:21:38,120
Speaker 1: I'm just like cool, why do you need that thing? Yeah? Yeah,

465
00:21:38,160 --> 00:21:40,560
Speaker 1: exactly do you actually need that? And so that's what

466
00:21:40,600 --> 00:21:42,640
Speaker 1: you want to keep in mind. Yeah, if you are

467
00:21:42,760 --> 00:21:45,760
Speaker 1: either trying to avoid spending all together or loading up

468
00:21:45,800 --> 00:21:47,800
Speaker 1: and buying as much stuff as you need at the

469
00:21:47,880 --> 00:21:50,680
Speaker 1: cheapest price possible, you're probably being cheap all right. Man.

470
00:21:50,680 --> 00:21:53,399
Speaker 1: That brings us to principle number three. Cheap peeps don't

471
00:21:53,440 --> 00:21:56,280
Speaker 1: take their own time and energy into account when they

472
00:21:56,320 --> 00:21:58,479
Speaker 1: see a deal or if they know that they can

473
00:21:58,560 --> 00:22:00,760
Speaker 1: d I Y the project. Frugal folks tend to have

474
00:22:00,800 --> 00:22:03,840
Speaker 1: a better understanding of what their time is worth, and

475
00:22:03,880 --> 00:22:05,880
Speaker 1: that helps them make a better decision as to whether

476
00:22:06,000 --> 00:22:07,960
Speaker 1: or not they should try and save a few bucks

477
00:22:08,240 --> 00:22:10,720
Speaker 1: by fixing something on their own. Yeah, that's right, man.

478
00:22:10,760 --> 00:22:13,520
Speaker 1: Often there's a complete de valuing of your time. You know,

479
00:22:13,520 --> 00:22:16,000
Speaker 1: when you think cheap, they end up driving across town

480
00:22:16,080 --> 00:22:17,680
Speaker 1: just to save a few bucks. You know, like they're

481
00:22:17,680 --> 00:22:19,680
Speaker 1: the ones trekking across the city to get a few

482
00:22:19,720 --> 00:22:22,960
Speaker 1: cents off per gallon when they're not even thinking about

483
00:22:22,960 --> 00:22:24,800
Speaker 1: how much time that they're wasting or even how much

484
00:22:24,800 --> 00:22:26,920
Speaker 1: money they're spending to get there. Yeah, how much gas

485
00:22:26,960 --> 00:22:28,880
Speaker 1: are wasting in order to get the cheaper gas. Yeah,

486
00:22:28,920 --> 00:22:31,159
Speaker 1: but really, just like how much of your life hours

487
00:22:31,160 --> 00:22:32,880
Speaker 1: are you wasting? Like you can't get that tign back

488
00:22:32,880 --> 00:22:35,200
Speaker 1: where you're just sitting in the car just to save

489
00:22:35,200 --> 00:22:37,800
Speaker 1: a few bucks. And also, dude, I don't know about

490
00:22:37,960 --> 00:22:39,520
Speaker 1: if you've thought about this, but I feel like the

491
00:22:39,600 --> 00:22:42,240
Speaker 1: time that it takes to think about getting a deal

492
00:22:42,320 --> 00:22:46,080
Speaker 1: sometimes um can be overwhelming. And and when you get

493
00:22:46,080 --> 00:22:47,880
Speaker 1: into that mindset. I know it was for me because

494
00:22:47,880 --> 00:22:49,800
Speaker 1: I feel like I'm a reformed cheap skate to a

495
00:22:49,840 --> 00:22:52,960
Speaker 1: certain extent. Right, I feel like now I understand the difference,

496
00:22:53,119 --> 00:22:55,919
Speaker 1: and I placed a lot more value on frugality as

497
00:22:55,960 --> 00:22:59,080
Speaker 1: opposed to being cheap. And but that was me, that

498
00:22:59,160 --> 00:23:01,560
Speaker 1: was totally me and I would drive across town to

499
00:23:01,600 --> 00:23:03,560
Speaker 1: buy something at a store because I had a cup

500
00:23:03,640 --> 00:23:05,280
Speaker 1: on and it was on sale, and I would double

501
00:23:05,320 --> 00:23:07,960
Speaker 1: down on the savings for something I didn't necessarily need.

502
00:23:08,119 --> 00:23:11,520
Speaker 1: And for me, it was a lack of understanding about

503
00:23:11,520 --> 00:23:14,240
Speaker 1: how valuable my time was. And so I feel like

504
00:23:14,280 --> 00:23:16,120
Speaker 1: this is actually a really important point that hits home

505
00:23:16,440 --> 00:23:19,720
Speaker 1: that the thing that was the kicker for me was understanding.

506
00:23:20,000 --> 00:23:22,960
Speaker 1: You know what, Joel, your time is valuable, and when

507
00:23:23,000 --> 00:23:25,160
Speaker 1: you take your time out to go save a buck

508
00:23:25,359 --> 00:23:27,919
Speaker 1: or two by driving across town to do something crazy

509
00:23:28,000 --> 00:23:30,800
Speaker 1: like that, then that's where you're missing the boat. And

510
00:23:30,800 --> 00:23:32,119
Speaker 1: that's where being cheap just felt like it was a

511
00:23:32,160 --> 00:23:35,359
Speaker 1: detriment to kind of my ultimate plans of, you know,

512
00:23:35,400 --> 00:23:37,720
Speaker 1: financial independence. It felt like it was the opposite. It

513
00:23:37,760 --> 00:23:39,879
Speaker 1: was kind of a suck as opposed to something that

514
00:23:39,960 --> 00:23:42,159
Speaker 1: was benefiting my life. I mean, I think there might

515
00:23:42,160 --> 00:23:43,960
Speaker 1: be two reasons for that. Because I'm with you, I

516
00:23:44,080 --> 00:23:46,359
Speaker 1: was way more willing to chase after the deals early on,

517
00:23:46,400 --> 00:23:48,080
Speaker 1: and I think that's just because when you're younger, you

518
00:23:48,080 --> 00:23:49,560
Speaker 1: feel like you just have more time. Well, I mean,

519
00:23:49,560 --> 00:23:51,000
Speaker 1: I think you do have more time because I have.

520
00:23:51,359 --> 00:23:53,000
Speaker 1: I got three kids now, and so I've got a

521
00:23:53,000 --> 00:23:55,240
Speaker 1: way less time, and your time is like literally worthless.

522
00:23:55,600 --> 00:23:58,959
Speaker 1: I think that's that's very that's very true. So certainly

523
00:23:58,960 --> 00:24:01,680
Speaker 1: as you get older, get more responsibility, and yeah, your

524
00:24:01,680 --> 00:24:04,600
Speaker 1: time is worth more. We're kind of aging up a

525
00:24:04,640 --> 00:24:06,840
Speaker 1: little bit, and yeah, time is worth more to us.

526
00:24:07,400 --> 00:24:10,720
Speaker 1: You also mentioned like fixing things yourself, and for me,

527
00:24:11,040 --> 00:24:12,600
Speaker 1: you're talking about how this is kind of hitting home

528
00:24:12,600 --> 00:24:15,080
Speaker 1: for you. For me, this totally hits home. And this

529
00:24:15,160 --> 00:24:17,480
Speaker 1: is an easy trap for me to fall into. For

530
00:24:17,520 --> 00:24:19,840
Speaker 1: all those like me who are interested in the d

531
00:24:19,880 --> 00:24:22,800
Speaker 1: I y stuff. If you're more mechanically minded, you kind

532
00:24:22,800 --> 00:24:25,320
Speaker 1: of like figuring out how things work, Like I like

533
00:24:25,440 --> 00:24:28,000
Speaker 1: fixing things, Like I recently fixed one of our sound machines,

534
00:24:28,080 --> 00:24:30,560
Speaker 1: Like you know that we've got the dome like mechanical

535
00:24:30,840 --> 00:24:33,160
Speaker 1: sound machine that spends one of them. One of ours

536
00:24:33,160 --> 00:24:35,600
Speaker 1: was squealing and it had been in like the drawer forever,

537
00:24:35,720 --> 00:24:37,679
Speaker 1: and I couldn't bring myself to throw it away. And

538
00:24:37,680 --> 00:24:39,480
Speaker 1: there's just one screw holding the whole thing together. So

539
00:24:39,560 --> 00:24:41,240
Speaker 1: I thought, let me just pull this open because I

540
00:24:41,280 --> 00:24:44,440
Speaker 1: was curious. You know, It's it's just I'm naturally disposed

541
00:24:44,440 --> 00:24:46,399
Speaker 1: to kind of figure things out like that, and it

542
00:24:46,560 --> 00:24:49,359
Speaker 1: happens to sort of coincide with saving money. That didn't

543
00:24:49,359 --> 00:24:51,359
Speaker 1: take long. Maybe it's like thirty minutes, but I might

544
00:24:51,400 --> 00:24:53,880
Speaker 1: spend an hour or two taking something apart to see

545
00:24:53,880 --> 00:24:56,359
Speaker 1: what's wrong with it, because I'm a curious and I

546
00:24:56,480 --> 00:24:58,239
Speaker 1: like to figure things out. But be I'm like, oh

547
00:24:58,280 --> 00:25:00,359
Speaker 1: I can also I can save a buck. Well I

548
00:25:00,400 --> 00:25:02,960
Speaker 1: do this, and so it I justify it. But I'm

549
00:25:03,040 --> 00:25:05,800
Speaker 1: ripping myself off because my time is worth way more

550
00:25:05,960 --> 00:25:09,080
Speaker 1: and my wife would rather me do something else with

551
00:25:09,119 --> 00:25:13,440
Speaker 1: my time, like the dishes madly. Yeah, So ultimately, cheat

552
00:25:13,480 --> 00:25:17,520
Speaker 1: people don't take their own time into account. Frugal people do.

553
00:25:17,920 --> 00:25:20,520
Speaker 1: That's principal number three, the fourth principle we're gonna cover.

554
00:25:20,600 --> 00:25:25,320
Speaker 1: Frugal folks are interested in well researched purchases, and so

555
00:25:25,400 --> 00:25:27,720
Speaker 1: when you're frugal, you're willing to pay more for a

556
00:25:27,720 --> 00:25:31,159
Speaker 1: particular product because of if there's like track record or

557
00:25:31,200 --> 00:25:33,479
Speaker 1: the fact that you know you're buying from a reputable merchant.

558
00:25:34,040 --> 00:25:36,600
Speaker 1: They might have a great return policy or an awesome warranty.

559
00:25:36,920 --> 00:25:39,040
Speaker 1: In those instances, I think it's okay to pay more.

560
00:25:39,600 --> 00:25:41,520
Speaker 1: Just make sure that you're paying for a great product

561
00:25:42,119 --> 00:25:45,360
Speaker 1: and that you're not paying for great marketing. Yeah, Matt,

562
00:25:45,400 --> 00:25:48,400
Speaker 1: Like you could probably say I'm buying those yeasies because

563
00:25:48,680 --> 00:25:51,000
Speaker 1: they got that great warranty, But that's probably not the case.

564
00:25:51,000 --> 00:25:53,280
Speaker 1: It's probably because you're being a little consumeristic. Do they

565
00:25:53,280 --> 00:25:56,200
Speaker 1: have a sweet warranty? I don't know. So. Actually on shoes,

566
00:25:56,200 --> 00:25:58,320
Speaker 1: it does make me think of like red Wings, Like,

567
00:25:58,320 --> 00:26:00,000
Speaker 1: you know, you've seen the red Wings around, Like they're

568
00:26:00,240 --> 00:26:03,639
Speaker 1: dope boots for for men. Yeah, uh, they're awesome. They

569
00:26:03,640 --> 00:26:05,840
Speaker 1: are crazy expensive. I think they cost around two or

570
00:26:05,840 --> 00:26:09,359
Speaker 1: fifty bucks. And I have a pair of boots that

571
00:26:09,400 --> 00:26:13,040
Speaker 1: are very similar, exact, same style, six inch and there

572
00:26:13,080 --> 00:26:16,040
Speaker 1: by a company called thorough Good And this company's dude

573
00:26:16,040 --> 00:26:18,359
Speaker 1: has been around just as long as red Wing. But

574
00:26:18,400 --> 00:26:23,560
Speaker 1: guess what they're advertising slash marketing game sucks, But these

575
00:26:23,600 --> 00:26:26,440
Speaker 1: boots are just as good. Yeah. And then the other

576
00:26:26,480 --> 00:26:28,159
Speaker 1: option that you could have done buying a boot right

577
00:26:28,240 --> 00:26:30,120
Speaker 1: is you could have gone with the cheapest Walmart boot

578
00:26:30,160 --> 00:26:33,359
Speaker 1: possible that wears through super quick. But a frugal person

579
00:26:33,480 --> 00:26:36,000
Speaker 1: does their research and they don't necessarily just by the

580
00:26:36,040 --> 00:26:39,480
Speaker 1: most expensive boot. Right, That's not always the answer. But

581
00:26:40,040 --> 00:26:42,320
Speaker 1: in your case, you found a well research option that

582
00:26:42,400 --> 00:26:44,880
Speaker 1: was cheaper but still fit the bill. And I think

583
00:26:44,920 --> 00:26:46,719
Speaker 1: you know a couple more examples that we could give

584
00:26:46,800 --> 00:26:50,320
Speaker 1: kind of in this area are buying something from reputable

585
00:26:50,359 --> 00:26:52,840
Speaker 1: retailer like a Costco. So Costco has got one of

586
00:26:52,840 --> 00:26:54,800
Speaker 1: the best warranties in the business. You used to apply

587
00:26:54,880 --> 00:26:58,240
Speaker 1: even to electronics items for the longest time, but you know,

588
00:26:58,280 --> 00:27:00,680
Speaker 1: in the last few years that were just just it's impossible,

589
00:27:00,760 --> 00:27:02,840
Speaker 1: right to to keep that up. But if you're buying

590
00:27:02,880 --> 00:27:07,639
Speaker 1: almost anything in the store, food, clothing, kitchen items, whatever

591
00:27:07,640 --> 00:27:10,200
Speaker 1: it is, the great thing is that the return policy

592
00:27:10,320 --> 00:27:13,360
Speaker 1: it never ends. And so that's awesome. I recommend anyone

593
00:27:13,680 --> 00:27:16,640
Speaker 1: by especially stuff like luggage. Right. Yeah, I was gonna say,

594
00:27:16,640 --> 00:27:18,600
Speaker 1: because I didn't you have a piece of luggage where

595
00:27:18,680 --> 00:27:20,720
Speaker 1: something happened to it, and you're like, dude, I got

596
00:27:20,720 --> 00:27:22,639
Speaker 1: this at Costco. I'm able to get a new one,

597
00:27:22,640 --> 00:27:25,200
Speaker 1: don't worry exactly. Yeah, So I totally had a suitcase

598
00:27:25,280 --> 00:27:28,400
Speaker 1: damaged by an airline and Costco took it back no

599
00:27:28,800 --> 00:27:32,120
Speaker 1: problem at all. That's awesome, And so buying something from Costco,

600
00:27:32,160 --> 00:27:34,080
Speaker 1: I'm also willing to spend just a little bit more.

601
00:27:34,080 --> 00:27:36,240
Speaker 1: I feel like their quality is really good and their

602
00:27:36,240 --> 00:27:38,240
Speaker 1: return policy is really good. So if I spend a

603
00:27:38,280 --> 00:27:40,920
Speaker 1: little bit more, it's not the cheapest suitcase on the block, right,

604
00:27:41,080 --> 00:27:43,800
Speaker 1: But I do have that back pocket, you know, warranty

605
00:27:43,880 --> 00:27:46,359
Speaker 1: that covers me if something were to happen, So that

606
00:27:46,400 --> 00:27:49,200
Speaker 1: means a lot, right, I'm not buying the cheapest possible thing,

607
00:27:49,520 --> 00:27:52,440
Speaker 1: and that's okay. It makes me think of Aldi. That's

608
00:27:52,440 --> 00:27:54,040
Speaker 1: one of the reasons that we love Aldi. I mean,

609
00:27:54,080 --> 00:27:56,919
Speaker 1: it's they're crazy inexpensive. I'm gonna try not to use

610
00:27:56,920 --> 00:28:00,480
Speaker 1: the word cheap since we're talking about frugal, but there

611
00:28:00,520 --> 00:28:03,280
Speaker 1: are yeah, crazy and expensive and they've gotten an awesome

612
00:28:03,280 --> 00:28:05,680
Speaker 1: warranty and we've definitely used it before. It's a double

613
00:28:05,720 --> 00:28:09,479
Speaker 1: back warranty, so basically, if something goes bad, specifically like

614
00:28:09,520 --> 00:28:11,720
Speaker 1: with food, you can take it back and they will

615
00:28:11,720 --> 00:28:13,479
Speaker 1: give you your money back and they'll give you a

616
00:28:13,480 --> 00:28:16,520
Speaker 1: new one of what you just returned, which is awesome

617
00:28:17,000 --> 00:28:19,720
Speaker 1: money back and a replacement item. I can't beat it.

618
00:28:19,800 --> 00:28:21,600
Speaker 1: Got to love that about all. The One other thing

619
00:28:21,640 --> 00:28:24,879
Speaker 1: I feel like that fits into this category is a

620
00:28:24,880 --> 00:28:27,879
Speaker 1: car purchase, Like you could get the cheapest car you

621
00:28:27,920 --> 00:28:29,800
Speaker 1: can buy a day wu right, And that's a cheap

622
00:28:29,800 --> 00:28:32,400
Speaker 1: set of wheels, but ultimately that car might wear within

623
00:28:32,440 --> 00:28:34,840
Speaker 1: on you really quick or just break down completely. Right.

624
00:28:35,600 --> 00:28:38,480
Speaker 1: So buying something like a Toyota Corolla or a Honda

625
00:28:38,600 --> 00:28:41,920
Speaker 1: Chords something like that where consistently when you look at

626
00:28:41,960 --> 00:28:46,160
Speaker 1: the Consumer Reports rankings, the JD Power ratings, the those

627
00:28:46,200 --> 00:28:49,640
Speaker 1: cars do so well over time. And maybe you spent

628
00:28:49,720 --> 00:28:52,800
Speaker 1: a couple grand more to get into a used Corolla

629
00:28:52,920 --> 00:28:55,840
Speaker 1: or Record, ultimately you'll be in that car longer with

630
00:28:55,960 --> 00:28:58,440
Speaker 1: fewer things to go wrong. I mean, that's a frugal

631
00:28:58,480 --> 00:29:01,440
Speaker 1: purchase as opposed to just make the quick, cheap decision.

632
00:29:01,800 --> 00:29:03,440
Speaker 1: And adding on to that too, you want to make

633
00:29:03,440 --> 00:29:06,000
Speaker 1: sure you get whatever car you're gonna get, get it inspected.

634
00:29:06,160 --> 00:29:08,280
Speaker 1: And that's a sort of extra expense that you may

635
00:29:08,280 --> 00:29:10,480
Speaker 1: not want to pay upfront. Kise you're attempted to be cheap.

636
00:29:10,520 --> 00:29:11,920
Speaker 1: You don't want to spend any more money than you

637
00:29:11,960 --> 00:29:14,000
Speaker 1: have to. But that's a corner that you don't want

638
00:29:14,000 --> 00:29:16,520
Speaker 1: to cut. You do not want to skip a car inspection,

639
00:29:17,080 --> 00:29:19,920
Speaker 1: and that could save you thousands and thousands of dollars

640
00:29:19,920 --> 00:29:22,680
Speaker 1: down the road. Yeah, Matt, And speaking of inspections, I

641
00:29:22,720 --> 00:29:25,160
Speaker 1: was really shortsighted. One time when buying a new home,

642
00:29:25,440 --> 00:29:27,680
Speaker 1: instead of getting an actual home inspection, I had a

643
00:29:27,720 --> 00:29:29,719
Speaker 1: contractor friend come and look at the house and kind

644
00:29:29,720 --> 00:29:31,720
Speaker 1: of write down some things that he thought needed repaired,

645
00:29:32,160 --> 00:29:34,680
Speaker 1: And when came to the negotiating table, because I didn't

646
00:29:34,720 --> 00:29:38,360
Speaker 1: have an actual inspection report completely made out, the things

647
00:29:38,360 --> 00:29:41,520
Speaker 1: that I asked for were shut down. Inspections are really

648
00:29:41,560 --> 00:29:43,760
Speaker 1: expensive when it comes to a house, and I felt

649
00:29:43,800 --> 00:29:45,560
Speaker 1: like at that point I bought a few houses, I

650
00:29:45,640 --> 00:29:47,880
Speaker 1: knew what I was doing and I didn't actually need

651
00:29:48,000 --> 00:29:50,240
Speaker 1: a full fledged inspection if I had a contractor going

652
00:29:50,240 --> 00:29:52,280
Speaker 1: through the house. But when it came down to it,

653
00:29:52,520 --> 00:29:55,160
Speaker 1: that four would have probably saved me five thousand more

654
00:29:55,200 --> 00:29:57,400
Speaker 1: dollars off the price of the house on the negotiating

655
00:29:57,440 --> 00:29:59,720
Speaker 1: table exactly. How didn't even think about that? Yeah, And

656
00:29:59,760 --> 00:30:03,360
Speaker 1: so this last house that I purchased, inspection got me

657
00:30:03,560 --> 00:30:06,840
Speaker 1: ten dollars negotiated off the price. And so it's not

658
00:30:06,960 --> 00:30:09,360
Speaker 1: necessarily just about finding the flaws in the house, but

659
00:30:09,360 --> 00:30:11,640
Speaker 1: it's having something to go back to the negotiation table with.

660
00:30:12,040 --> 00:30:14,640
Speaker 1: And if I was cheap right like I was that

661
00:30:14,720 --> 00:30:17,360
Speaker 1: first time, save that Feurigner bucks. But it costs me

662
00:30:17,360 --> 00:30:19,560
Speaker 1: in the long run, and so I would recommend it.

663
00:30:19,640 --> 00:30:21,840
Speaker 1: Just like getting your car inspected. It's worth it because

664
00:30:21,880 --> 00:30:23,920
Speaker 1: it can prevent you from buying a lemon. And in

665
00:30:23,960 --> 00:30:26,200
Speaker 1: the same way, you know, getting a home inspection can

666
00:30:26,400 --> 00:30:28,240
Speaker 1: prevent you from buying a lemon of a house, but

667
00:30:28,280 --> 00:30:30,240
Speaker 1: it can also, you know, help you save more money

668
00:30:30,440 --> 00:30:32,920
Speaker 1: in the long run on the purchase price, because you

669
00:30:32,960 --> 00:30:35,840
Speaker 1: have something to go back to the seller with and

670
00:30:36,040 --> 00:30:38,480
Speaker 1: you can negotiate with it to save yourself even more money.

671
00:30:38,800 --> 00:30:41,600
Speaker 1: Nice man. After the break, we're gonna talk about being

672
00:30:41,640 --> 00:30:44,360
Speaker 1: frugal and cheap and relationships and this can mean the

673
00:30:44,360 --> 00:30:48,479
Speaker 1: difference between your friends calling you cheap or calling you frugal.

674
00:30:58,000 --> 00:31:00,320
Speaker 1: All right, Matt, we're back from the break. Bring the

675
00:31:00,360 --> 00:31:02,760
Speaker 1: topic are you frugal or are you cheap? And we've

676
00:31:02,800 --> 00:31:05,400
Speaker 1: already kind of covered a few important principles that are

677
00:31:05,440 --> 00:31:08,160
Speaker 1: great for kind of running through as you're thinking through

678
00:31:08,160 --> 00:31:10,920
Speaker 1: a specific purchase, as you're thinking through kind of the

679
00:31:11,000 --> 00:31:14,480
Speaker 1: trajectory of how you live, whether you are frugal or

680
00:31:14,520 --> 00:31:17,440
Speaker 1: whether you're being cheap. And here's a fifth principle for

681
00:31:17,560 --> 00:31:21,840
Speaker 1: you frugal folks. Balance saving a buck with all aspects

682
00:31:21,880 --> 00:31:25,560
Speaker 1: of life, especially when it comes to relationships. Frugal people

683
00:31:25,640 --> 00:31:29,440
Speaker 1: are considerate of the people around them, and cheap people, well,

684
00:31:29,520 --> 00:31:33,520
Speaker 1: they can often hurt and damage relationships by imposing their

685
00:31:33,600 --> 00:31:37,080
Speaker 1: cheapness on other people. So a good rule of thumb

686
00:31:37,360 --> 00:31:40,000
Speaker 1: to denote whether you're being frugal or cheap is if

687
00:31:40,040 --> 00:31:43,600
Speaker 1: your decision is having negative consequences on the people around you.

688
00:31:44,080 --> 00:31:46,000
Speaker 1: Yeah man. The most sort of a blatant example of

689
00:31:46,040 --> 00:31:49,400
Speaker 1: that is not tipping somebody, uh servers, like a big

690
00:31:49,520 --> 00:31:51,640
Speaker 1: portion of their income is from tips. And if you

691
00:31:51,680 --> 00:31:54,120
Speaker 1: were to not do that by taking advantage of this

692
00:31:54,280 --> 00:31:56,959
Speaker 1: unspoken thing that you know you should be doing, well,

693
00:31:57,000 --> 00:32:00,640
Speaker 1: you're being cheap, right, yes, So a frugal persons respond is,

694
00:32:00,720 --> 00:32:03,920
Speaker 1: if you can't afford going out to dinner and leaving,

695
00:32:03,920 --> 00:32:06,520
Speaker 1: a good tip for your server is to just go

696
00:32:06,560 --> 00:32:08,760
Speaker 1: out to eat less. Right, And a cheap person still

697
00:32:08,800 --> 00:32:11,120
Speaker 1: wants to take advantage, they want to use the coupon

698
00:32:11,320 --> 00:32:15,200
Speaker 1: and uh not tip their server. Well, that that's being cheap, right,

699
00:32:15,280 --> 00:32:18,800
Speaker 1: that's negatively impacting someone else. And so the frugal person

700
00:32:18,920 --> 00:32:21,080
Speaker 1: just says, you know what, I can't afford it, I'm

701
00:32:21,120 --> 00:32:23,480
Speaker 1: going out to eat less. Yeah man, it's not even

702
00:32:23,560 --> 00:32:26,280
Speaker 1: necessary right to go out to have fun with friends

703
00:32:26,360 --> 00:32:29,400
Speaker 1: to to develop relationships. It's not required that you go out.

704
00:32:29,440 --> 00:32:31,240
Speaker 1: I don't I wish I could remember where I heard this,

705
00:32:32,000 --> 00:32:33,840
Speaker 1: but it was about a group of friends that would

706
00:32:33,840 --> 00:32:36,520
Speaker 1: get together and they would all bring ingredients and they

707
00:32:36,520 --> 00:32:40,880
Speaker 1: would have a potato like party, Like somebody would bring potatoes,

708
00:32:41,240 --> 00:32:44,040
Speaker 1: someone would bring that sounds festive done, it sounds fun.

709
00:32:44,640 --> 00:32:46,720
Speaker 1: Someone else bringing like the bacon and some cheese, and

710
00:32:46,720 --> 00:32:48,280
Speaker 1: they would all kind of pitch in. It was just

711
00:32:48,320 --> 00:32:50,480
Speaker 1: a way for folks to save a lot of money

712
00:32:50,520 --> 00:32:53,280
Speaker 1: but still have that social interaction. Yeah. I think there's

713
00:32:53,320 --> 00:32:54,880
Speaker 1: tons of ways to do that, right. And then there's

714
00:32:54,920 --> 00:32:57,640
Speaker 1: also ways to go out with your friends and not

715
00:32:57,840 --> 00:33:00,520
Speaker 1: spend as much as everyone else, right, And you don't

716
00:33:00,560 --> 00:33:02,840
Speaker 1: have to go out all the time. There's awesome ways

717
00:33:02,880 --> 00:33:04,600
Speaker 1: to stay in and have a potato party, right like

718
00:33:04,640 --> 00:33:07,600
Speaker 1: match just mentioned, but also maybe just have one beer

719
00:33:07,640 --> 00:33:10,760
Speaker 1: instead of three. Let's say you're dating right now, right,

720
00:33:10,800 --> 00:33:13,440
Speaker 1: there's ways to go out and take someone else out

721
00:33:13,800 --> 00:33:16,520
Speaker 1: without being cheap, because it's not about the money that

722
00:33:16,640 --> 00:33:19,800
Speaker 1: you spend. It's about building that relationship, and your significant

723
00:33:19,800 --> 00:33:22,000
Speaker 1: other doesn't care how much you spent on dinner. They

724
00:33:22,040 --> 00:33:24,600
Speaker 1: care about the thought and the intentionality that you put

725
00:33:24,640 --> 00:33:27,520
Speaker 1: into it and the time that you're spending together. Dude.

726
00:33:27,520 --> 00:33:30,360
Speaker 1: I love that quality time together is is so important.

727
00:33:30,600 --> 00:33:33,640
Speaker 1: And so if you're frugal and you're worried about being

728
00:33:33,680 --> 00:33:36,360
Speaker 1: perceived as cheap, what you want to do is make

729
00:33:36,400 --> 00:33:39,600
Speaker 1: sure that you communicate with your friends, with whoever it

730
00:33:39,680 --> 00:33:43,040
Speaker 1: is that you are in relationship with, talk about money,

731
00:33:43,120 --> 00:33:45,320
Speaker 1: talk about why you're not going to be spending money

732
00:33:45,600 --> 00:33:49,080
Speaker 1: in a given social situation, or maybe why you may

733
00:33:49,080 --> 00:33:51,880
Speaker 1: not even be attending. And in those cases, even if

734
00:33:51,880 --> 00:33:54,800
Speaker 1: you have friends that disagree and have different values, hopefully

735
00:33:54,840 --> 00:33:57,640
Speaker 1: they have a renewed respect for what it is that

736
00:33:57,680 --> 00:34:00,560
Speaker 1: you're doing because you've been thoughtful about what you're doing,

737
00:34:01,040 --> 00:34:03,640
Speaker 1: and even more importantly, you're communicating that with them, you're

738
00:34:03,640 --> 00:34:05,560
Speaker 1: sharing with them, and that's something that you're able to

739
00:34:05,680 --> 00:34:08,880
Speaker 1: then talk about together, dude. And that's so much of

740
00:34:08,920 --> 00:34:10,640
Speaker 1: what we like to do here on the podcast, right.

741
00:34:10,680 --> 00:34:12,720
Speaker 1: Like we talk about money, we talk about the things

742
00:34:13,440 --> 00:34:17,080
Speaker 1: that oftentimes don't get talked about, and it needs to

743
00:34:17,120 --> 00:34:20,960
Speaker 1: be normalized and part of our sort of daily discussion. Yeah,

744
00:34:20,960 --> 00:34:23,080
Speaker 1: and I know that for Emily and I like at home,

745
00:34:23,480 --> 00:34:26,799
Speaker 1: open lines of communication have made a big change in

746
00:34:27,120 --> 00:34:29,799
Speaker 1: me being just kind of a cheap skate and and

747
00:34:30,320 --> 00:34:32,800
Speaker 1: making a lot of headway towards being a frugal person instead,

748
00:34:33,360 --> 00:34:36,360
Speaker 1: and that sort of those open lines of communication have

749
00:34:36,360 --> 00:34:37,759
Speaker 1: have made it easier for us to get on the

750
00:34:37,800 --> 00:34:40,880
Speaker 1: same page. Uh and and we don't always agree, but

751
00:34:40,920 --> 00:34:43,520
Speaker 1: then we come to terms on you know, a reasonable

752
00:34:43,560 --> 00:34:45,520
Speaker 1: decision for us to make. So just like kind of,

753
00:34:45,560 --> 00:34:48,480
Speaker 1: for instance, made an example of how many date nights

754
00:34:48,520 --> 00:34:50,200
Speaker 1: we would have and what kind of places we would

755
00:34:50,239 --> 00:34:53,600
Speaker 1: be going on our date nights, and cheat me was like,

756
00:34:53,719 --> 00:34:56,080
Speaker 1: let's go every week, but go get like the cheapest

757
00:34:56,080 --> 00:34:59,120
Speaker 1: Mexican food we possibly can. And sometimes, you know, Emily

758
00:34:59,160 --> 00:35:01,279
Speaker 1: wanted to go nice places, and so we've kind of

759
00:35:01,280 --> 00:35:03,880
Speaker 1: made this decision right where we go on fewer date nights,

760
00:35:03,960 --> 00:35:06,279
Speaker 1: and you know, sometimes we'll go to a really cheap

761
00:35:06,320 --> 00:35:08,720
Speaker 1: place that's really tasty, and then sometimes we'll go someplace

762
00:35:08,760 --> 00:35:11,160
Speaker 1: a little bit nicer, because like a long, slow dinner

763
00:35:11,320 --> 00:35:15,319
Speaker 1: at a beautiful restaurant is meaningful to her and it

764
00:35:15,560 --> 00:35:19,200
Speaker 1: is quality over quantity, right, And you can go out

765
00:35:19,239 --> 00:35:21,439
Speaker 1: to eat five nights a week at a fast food

766
00:35:21,440 --> 00:35:23,520
Speaker 1: place right and spend the same amount of money as

767
00:35:23,560 --> 00:35:25,560
Speaker 1: you can on that one day night at that like

768
00:35:25,719 --> 00:35:28,440
Speaker 1: nice restaurant in town, but it doesn't have nearly the

769
00:35:28,480 --> 00:35:31,920
Speaker 1: same effect and the same meaning. Right. So for our relationship,

770
00:35:32,000 --> 00:35:35,360
Speaker 1: communicating about why and how we're going to spend the

771
00:35:35,400 --> 00:35:39,839
Speaker 1: money has led to open eyes and coming into it

772
00:35:40,360 --> 00:35:43,000
Speaker 1: on the same page so that we can choose to

773
00:35:43,000 --> 00:35:46,799
Speaker 1: be frugal together as opposed to meet cheaping out um

774
00:35:46,960 --> 00:35:50,319
Speaker 1: and and so that's made a really big difference for us. Yeah, man,

775
00:35:50,320 --> 00:35:52,719
Speaker 1: in in your example, there might be some folks who

776
00:35:52,800 --> 00:35:56,600
Speaker 1: might want that cheap Mexican every week because for them,

777
00:35:56,680 --> 00:35:58,799
Speaker 1: that is what they value, and that is what they've

778
00:35:58,840 --> 00:36:01,520
Speaker 1: communicated with people in their lives, and that's what they've

779
00:36:01,719 --> 00:36:04,480
Speaker 1: figured out is most important to them. That's why it's

780
00:36:04,520 --> 00:36:06,480
Speaker 1: so hard to say that, oh, this is a frugal

781
00:36:06,520 --> 00:36:08,960
Speaker 1: purchase or oh this is a cheap purchase, because again

782
00:36:09,160 --> 00:36:13,040
Speaker 1: with every person, with each individual, it's different. As long

783
00:36:13,080 --> 00:36:15,160
Speaker 1: as you've given it the thought and you know why

784
00:36:15,200 --> 00:36:17,560
Speaker 1: it is that you're spending the money that you're spending, uh,

785
00:36:17,600 --> 00:36:21,040
Speaker 1: and and that you're doing that with intentionality, then you

786
00:36:21,080 --> 00:36:23,680
Speaker 1: are moving in the right direction. All right, Matt, back

787
00:36:23,680 --> 00:36:25,120
Speaker 1: to the beer we stole from your mother in law.

788
00:36:27,120 --> 00:36:29,080
Speaker 1: We have some bigger beers, and this is like the

789
00:36:29,080 --> 00:36:31,080
Speaker 1: opposite of a big beer. First of all, it comes

790
00:36:31,080 --> 00:36:33,240
Speaker 1: in a tiny bottle. It feels like a mini bottle

791
00:36:33,239 --> 00:36:36,799
Speaker 1: of champagne. It's kind of adorable. It's kind of cute. Dude.

792
00:36:36,800 --> 00:36:38,959
Speaker 1: I will say, it's got an awesome label. I love

793
00:36:39,000 --> 00:36:41,359
Speaker 1: the label on it. It really does. So let's tell

794
00:36:41,360 --> 00:36:44,040
Speaker 1: people were drinking. We're drinking Stiegel Rattler, and it's a

795
00:36:44,120 --> 00:36:48,560
Speaker 1: great fruit beer slash juice. Right. A rattler is, interestingly enough,

796
00:36:48,920 --> 00:36:53,000
Speaker 1: essentially half beer and half juice. It's a German concoction. Yeah,

797
00:36:53,320 --> 00:36:56,520
Speaker 1: the europe it's fancy. Yeah. I think the Brits call

798
00:36:56,560 --> 00:37:00,439
Speaker 1: it a shandy while while the Germans call it a rattler. Um.

799
00:37:00,440 --> 00:37:02,399
Speaker 1: But and this is my favorite, I gotta be honest.

800
00:37:02,480 --> 00:37:05,879
Speaker 1: The Stiegel grape fruit Rattler isn't so good, dude, by

801
00:37:05,880 --> 00:37:07,919
Speaker 1: far my favorite version of a rattler. I'm not really

802
00:37:07,920 --> 00:37:10,319
Speaker 1: into these beers for the most part, but this one

803
00:37:10,360 --> 00:37:12,480
Speaker 1: in particular. If you can get your hands on some Stiegel.

804
00:37:12,640 --> 00:37:14,360
Speaker 1: And the great thing is too, we're drinking something that

805
00:37:14,440 --> 00:37:17,680
Speaker 1: probably everybody can find at their local package. Definitely you

806
00:37:17,719 --> 00:37:19,799
Speaker 1: can find this beer and it either comes in these

807
00:37:19,880 --> 00:37:23,080
Speaker 1: cute little green bottles or a four pack of cans.

808
00:37:23,120 --> 00:37:26,480
Speaker 1: But man, it's got this really nice, juicy grape fruity.

809
00:37:26,520 --> 00:37:28,520
Speaker 1: It feels like you're drinking straight grape fruit juice that's

810
00:37:28,520 --> 00:37:29,880
Speaker 1: just got this little bit of beer in it, and

811
00:37:29,920 --> 00:37:31,960
Speaker 1: it's really really nice. It's half away. I mean, like

812
00:37:31,960 --> 00:37:34,320
Speaker 1: you said, it's it's like halfway between juice and beer.

813
00:37:34,560 --> 00:37:37,279
Speaker 1: And so the history of this beer or juice beer,

814
00:37:37,320 --> 00:37:40,200
Speaker 1: whatever you wanna call it is it originated in Europe

815
00:37:40,200 --> 00:37:43,200
Speaker 1: and it was made for cyclists. And so you've got

816
00:37:43,239 --> 00:37:46,560
Speaker 1: these groups of folks I've envisioned writing their you know,

817
00:37:46,680 --> 00:37:49,760
Speaker 1: fancy road bikes through the Alps, and they are thirsty

818
00:37:49,880 --> 00:37:51,839
Speaker 1: and they come upon a pub, but they know they've

819
00:37:51,880 --> 00:37:54,080
Speaker 1: got to heap writing, and so they were watering down

820
00:37:54,120 --> 00:37:58,160
Speaker 1: their beer with with lemonade and creating rattlers. And so

821
00:37:58,160 --> 00:38:00,880
Speaker 1: it's a way for them to you know, get refreshed,

822
00:38:00,960 --> 00:38:03,839
Speaker 1: get get rehydrated, but at the same time not get

823
00:38:04,440 --> 00:38:07,120
Speaker 1: wasted so that they couldn't keep riding their bikes. Yeah,

824
00:38:07,160 --> 00:38:09,399
Speaker 1: and so this beer in particular is like three point

825
00:38:09,440 --> 00:38:11,799
Speaker 1: two percent alcohol, So Matt and I feel nothing at

826
00:38:11,800 --> 00:38:15,360
Speaker 1: all right now but a fantastic beer, really, and I

827
00:38:15,760 --> 00:38:17,880
Speaker 1: love that history behind it. I love that you know,

828
00:38:17,920 --> 00:38:19,920
Speaker 1: you and I love bikes, and we love biking. We

829
00:38:20,040 --> 00:38:23,880
Speaker 1: love beer, man, So Rattlers should be our patron st beer, right,

830
00:38:24,160 --> 00:38:26,600
Speaker 1: totally should be. They totally should be. So we will

831
00:38:26,640 --> 00:38:29,960
Speaker 1: let Stiegel Rattler be our patron st beer because of that.

832
00:38:30,040 --> 00:38:33,319
Speaker 1: Because and and seriously, it's the best Rattler I've ever had.

833
00:38:33,560 --> 00:38:35,000
Speaker 1: I love every time I get to have one of

834
00:38:35,040 --> 00:38:39,000
Speaker 1: these beers. Super low a BV so full flavor and

835
00:38:39,120 --> 00:38:41,040
Speaker 1: just kind of something different off the beaten path from

836
00:38:41,040 --> 00:38:42,960
Speaker 1: the normal kind of beers we drink, not our typical

837
00:38:42,960 --> 00:38:45,080
Speaker 1: I p A, that's for sure. So thanks to Kath,

838
00:38:45,280 --> 00:38:47,719
Speaker 1: Matt's mother in law for donating this beer to the

839
00:38:47,719 --> 00:38:50,480
Speaker 1: show or at the or as our girls caller motto.

840
00:38:52,080 --> 00:38:54,640
Speaker 1: All right, Joel, final thoughts. And this is how you

841
00:38:54,680 --> 00:38:57,440
Speaker 1: can tell if you are being cheap or if you're

842
00:38:57,440 --> 00:38:59,960
Speaker 1: being frugal. And the first way is that cheap people

843
00:39:00,120 --> 00:39:04,160
Speaker 1: are always thinking about this short term benefits, the short

844
00:39:04,239 --> 00:39:07,120
Speaker 1: term costs and expense, while frugal folks are playing the

845
00:39:07,160 --> 00:39:09,640
Speaker 1: long game. A lot of times if you're too cheap,

846
00:39:10,000 --> 00:39:11,879
Speaker 1: that can actually cost you more in the long run

847
00:39:11,920 --> 00:39:14,560
Speaker 1: because they're gonna have to buy more often. Also, cheap

848
00:39:14,560 --> 00:39:17,520
Speaker 1: people are often trying to avoid spending money altogether, or

849
00:39:17,840 --> 00:39:20,319
Speaker 1: they're loading up and buying way too much crap with

850
00:39:20,400 --> 00:39:23,960
Speaker 1: that Black Friday mindset. Frugal folks are willing to spend

851
00:39:23,960 --> 00:39:27,200
Speaker 1: money only on the things that they care about. Cheap

852
00:39:27,200 --> 00:39:30,560
Speaker 1: people don't take their own time and energy into account

853
00:39:31,160 --> 00:39:32,759
Speaker 1: when they see a deal or if they know that

854
00:39:32,800 --> 00:39:36,040
Speaker 1: they can d I Y the project right, and so

855
00:39:36,320 --> 00:39:39,479
Speaker 1: they devalue their time, whereas frugal folks have a better

856
00:39:39,600 --> 00:39:42,400
Speaker 1: understanding of what their time is worth and can decide

857
00:39:42,400 --> 00:39:44,320
Speaker 1: whether or not they want to, you know, fix that

858
00:39:44,360 --> 00:39:48,120
Speaker 1: broken appliance like I oftentimes get sucked into doing. Another

859
00:39:48,120 --> 00:39:49,919
Speaker 1: sign that you might be frugal as opposed to cheap

860
00:39:50,000 --> 00:39:52,440
Speaker 1: is that you research your purchase as well. You might

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00:39:52,480 --> 00:39:54,839
Speaker 1: pay more for a particular product because of the track

862
00:39:54,880 --> 00:39:57,200
Speaker 1: record and the fact that you're buying from a reputable

863
00:39:57,200 --> 00:40:00,560
Speaker 1: merchant with a great return policy. Cheap people, they're not

864
00:40:00,680 --> 00:40:03,720
Speaker 1: even thinking about that stuff. That's right. And finally, frugal

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00:40:03,760 --> 00:40:08,160
Speaker 1: folks balance saving money with all aspects of life, especially

866
00:40:08,239 --> 00:40:11,680
Speaker 1: when it comes to relationships. While frugal people are considerate

867
00:40:11,680 --> 00:40:13,719
Speaker 1: of those around them, cheap people can hurt people in

868
00:40:13,840 --> 00:40:17,560
Speaker 1: damage relationships by imposing their cheapness on those around them.

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00:40:17,600 --> 00:40:21,120
Speaker 1: So Matt, ultimately, let's strive to be frugal and not cheap.

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00:40:21,239 --> 00:40:23,399
Speaker 1: And I think it's really helpful to have these kind

871
00:40:23,400 --> 00:40:26,719
Speaker 1: of five principles as a mirror as you're thinking about purchases,

872
00:40:26,760 --> 00:40:29,360
Speaker 1: as you're thinking about how you live life. And I

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00:40:29,400 --> 00:40:32,480
Speaker 1: know for me it's been a great transformation to go

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00:40:32,600 --> 00:40:35,120
Speaker 1: from being cheap to being someone who I think has

875
00:40:35,160 --> 00:40:37,960
Speaker 1: become decently frugal. Yeah. Man, that's right. It takes time,

876
00:40:38,040 --> 00:40:41,279
Speaker 1: it's a process. It's not easy to be frugal. Being

877
00:40:41,360 --> 00:40:42,960
Speaker 1: cheap is easy. All you do is you look for

878
00:40:42,960 --> 00:40:45,600
Speaker 1: the cheapest price and you go with that. Being frugal

879
00:40:45,640 --> 00:40:49,120
Speaker 1: takes thought, intentionality, and it takes a little more work. Yeah,

880
00:40:49,200 --> 00:40:51,640
Speaker 1: it's better for I think your heart's, better for your relationships,

881
00:40:51,719 --> 00:40:54,799
Speaker 1: better for the stuff in your closet. Right, So all

882
00:40:54,800 --> 00:40:57,439
Speaker 1: those reasons it's better to be frugal than cheap. Thanks

883
00:40:57,480 --> 00:40:59,480
Speaker 1: for listening. Our home on the web is how to

884
00:40:59,640 --> 00:41:01,640
Speaker 1: Money dot Com and we will have show notes up

885
00:41:01,680 --> 00:41:04,640
Speaker 1: for this episode. Yeah, and hopefully you found this episode helpful.

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00:41:04,880 --> 00:41:06,759
Speaker 1: If you found it randomly, be sure to check us

887
00:41:06,760 --> 00:41:09,360
Speaker 1: out on Apple Podcast, where you can subscribe and you

888
00:41:09,360 --> 00:41:11,760
Speaker 1: can get all the new episodes as they are released

889
00:41:12,280 --> 00:41:29,960
Speaker 1: until next time. Buddy, best Friends Out, Friends Out. You're

890
00:41:30,000 --> 00:41:33,320
Speaker 1: such a beautiful butterfly now used to be this ugly caterpillar,

891
00:41:33,400 --> 00:41:36,480
Speaker 1: this ugly cheap caterpillar, now that you're this beautiful butterfly,