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Speaker 1: Welcome to how to Money. I'm Joel and I'm Matt,

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Speaker 1: and today we're talking about how frugality gives you options. Yeah. Oh,

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Speaker 1: and Joel, we need you to update us on RAPI five.

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Speaker 1: You know how you're making money by having your car

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Speaker 1: wrap I want to hear all right, I'll give you

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Speaker 1: the update. So I think Rapifi is cool and I

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Speaker 1: think it would probably work well for a lot of people.

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Speaker 1: I currently, right now, I have made ninety dollars and

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Speaker 1: sixty seven cents driving my car a total of three

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Speaker 1: dred and forty three miles that you would have driven

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Speaker 1: anyway that I would have driven anyway. And here's the thing.

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Speaker 1: I've been on vacation and I've been biking a lot,

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Speaker 1: so I haven't been driving my car nearly as much

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Speaker 1: as Yeah, you don't take your electric car when you

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Speaker 1: go to the beach, right, Yeah, of course I couldn't

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Speaker 1: make it there. So, uh, it's been it's been good.

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Speaker 1: It's been a fun experiment. A lot of people ask

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Speaker 1: me if I work for Salesforce, because so, let let's

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Speaker 1: set it up for everybody. I got my car wrapped

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Speaker 1: and there's a company called rapid Fi. You can download

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Speaker 1: the app they will test your driving and kind of

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Speaker 1: decide whether or not you will work for one of

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Speaker 1: their campaigns. And so I got signed up for their

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Speaker 1: Salesforce dot Com campaign and so I've got this this

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Speaker 1: advertising wrapped around my niecean leaf um. And so for

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Speaker 1: a lot of people that commute to drive a long

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Speaker 1: distance in major cities, this could work out really well.

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Speaker 1: But for me, I just I bike too much and

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Speaker 1: I don't drive enough when I do drive. And so

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Speaker 1: you know, I've I've made ninety bucks, like I said,

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Speaker 1: but uh, I just I don't see it for me

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Speaker 1: being worth it ultimately. Wait, so when did like the

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Speaker 1: campaign start for you? Then? Has it been like a month? Yeah,

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Speaker 1: it's been a little over a month at this point.

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Speaker 1: I think I think a month and a half at

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Speaker 1: this point. Okay, so you're not quite making, I guess

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Speaker 1: as much as you thought. But a lot of that

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Speaker 1: has to do the fact that, yeah, that you haven't

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Speaker 1: been driving. Yeah, exactly how that was gonna work out,

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Speaker 1: because you know that campaign and the incentive to drive,

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Speaker 1: it's kind of like it's the opposite of what we

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Speaker 1: like to do totally, which is biking and not driving places.

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Speaker 1: And I knew that I just I wanted to give

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Speaker 1: it a shot. He's worth trying to see how pan out.

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Speaker 1: I love kitchy, weird things, and this was exactly that.

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Speaker 1: And uh, the cool thing is about Rapifi two they

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Speaker 1: have these things called swarms, and so they'll still shoot

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Speaker 1: you a message and say, hey, if you can drive

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Speaker 1: in this one part of town for an hour on

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Speaker 1: Saturday from one to two, we'll pay you an extra

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Speaker 1: thirty bucks or something like that. So it's kind of cool,

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Speaker 1: like there's these additional ways to make money. I will

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Speaker 1: say all about that, Yeah, right, I will say. The

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Speaker 1: downside of rapifi is the communication is terrible, uh, within

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Speaker 1: the app. And so I was having an issue with

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Speaker 1: the recording, you know, my driving for a minute, and

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Speaker 1: so I wrote them and they said, well, you haven't

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Speaker 1: updated the pictures from your car. Apparently supposed to do

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Speaker 1: that every two weeks. I didn't know that, Like the

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Speaker 1: app didn't prompt me to do that or anything. And

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Speaker 1: so just to like make sure you still have it

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Speaker 1: on your car, Yeah, exactly like that, it's not messed

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Speaker 1: up or I didn't rip it off with my own

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Speaker 1: bare hands or something like that. So you had griff

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Speaker 1: feded on your own car on the on the picture. Yeah,

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Speaker 1: so I think you know, ultimately I'm I'm essentially beta

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Speaker 1: testing Rapidfi at the same time while they're kind of

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Speaker 1: trying to see if they're business model flies. But hopefully

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Speaker 1: they'll get better at some some stuff like that communication

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Speaker 1: and notifications through the app. But definitely a worthwhile shot

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Speaker 1: for me to test this out. Ninety bucks for doing

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Speaker 1: nothing essentially and how long? So how long does this

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Speaker 1: campaign end? And I guess my big question is, aren't like,

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Speaker 1: will you do the next campaign that you qualify for?

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Speaker 1: So they say it last for two months, and so yeah,

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Speaker 1: I'm guessing it's a couple of weeks then for you

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Speaker 1: coming coming to a close pretty soon. And no, I

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Speaker 1: can't imagine I'll sign up for the next one. Like

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Speaker 1: we said, just getting down there, putting the wrap on,

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Speaker 1: going back down to take taken off all that stuff.

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Speaker 1: You know, it's just kind of an inconvenience and then

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Speaker 1: finding out that maybe the miles aren't getting tracked and

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Speaker 1: having to follow that. It's just it's just kind of

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Speaker 1: a pain and I just don't need that in my

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Speaker 1: life for the little amount of money it's making. But

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Speaker 1: like I said, if you are driving a lot, if

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Speaker 1: you're commuting to and from work, you know, miles every

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Speaker 1: day each way. You know, rapified could be a great

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Speaker 1: kind of side piece of income for you. And I

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Speaker 1: think for a lot of people it would be worth it.

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Speaker 1: Just not worth it for me in the way I

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Speaker 1: live life. Nice enough about my car, though, I saw you.

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Speaker 1: You've got some beastings on your hand. What happened working

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Speaker 1: over at the rental house? You said, So, I've got

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Speaker 1: a couple two or three yellow jacket stings. Not bees, man,

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Speaker 1: So yellow jackets, I think are I know, are way

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Speaker 1: more painful because I've got I get you get stung

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Speaker 1: by a bee like you're cutting the grass or whatever.

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Speaker 1: You get stung on the on the leg or something,

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Speaker 1: no big deal. Yellow jackets, on the other hand, hurt

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Speaker 1: way more, dude. And my hand has been so itchy

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Speaker 1: and swollen. It's actually the best it's been right now.

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Speaker 1: But it was look pretty puffy. Man, a few days ago,

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Speaker 1: I was over there. Oh okay, yeah, So the reason

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Speaker 1: I was over there is my h VAC went out

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Speaker 1: over there, like it crept out completely. You know. It's

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Speaker 1: really fun and July to have your HVACT go out

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Speaker 1: of your rental property. Oh man, I felt so bad

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Speaker 1: for the girls that are over there. But so this

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Speaker 1: is the newest rental and I knew when we got

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Speaker 1: the house that had an older system may not last

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Speaker 1: very long. So it was no surprise that that happened.

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Speaker 1: Had the cash set aside and my special little fun

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Speaker 1: that I have set up for that that property, and

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Speaker 1: we went we went ahead and just replaced the whole system,

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Speaker 1: not just the condenser. Is that was the condenser, the compressor,

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Speaker 1: not just that, but were like, you know what furnace

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Speaker 1: to what it was. The furnace is about twenty years

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Speaker 1: old and they would have had to retrofit it and

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Speaker 1: kind of do all this fancy duck work just to

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Speaker 1: get to hook up and say, you know, you may

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Speaker 1: as well just go ahead and do it. Have a

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Speaker 1: fresh system in there. You know, it's good, everything works together,

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Speaker 1: all that kind of stuff. But my fat girl, she's good,

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Speaker 1: by the way, which I don't think you hear that

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Speaker 1: very often. H H, fat girl. I know I love

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Speaker 1: that normally here like H fact H. Fat guy. She's

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Speaker 1: a legit man. She's got a crew, she's got her

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Speaker 1: like company. Hat I love it. It's her own company

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Speaker 1: and I've used her for projects in the past and

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Speaker 1: she's you know, she's awesome. But that being said, I

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Speaker 1: still don't like partying with uh bucks uh in the

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Speaker 1: middle of the summer. Man, isn't it no fun? That's

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Speaker 1: no fun? So wait, how did the beast things come up?

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Speaker 1: Them billy yellow jacket stings? Oh so I was over

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Speaker 1: there showing her where I wanted the new unit because

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Speaker 1: the current compressor was actually installed under the deck, which

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Speaker 1: is not something that you want been there and done

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Speaker 1: that I had to move it before. Yes, I was

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Speaker 1: over there showing her where I wanted the new one

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Speaker 1: to go, and dude, there was like a nest of

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Speaker 1: twenty of them underneath the old pad, you know, like

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Speaker 1: the plastic path that they set the thing on to

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Speaker 1: keep it level. Yeah, yeah, we we all got got

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Speaker 1: lit up. Did she get stuck? I felt bad, but

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Speaker 1: she kind of rolled with it. She's tough. She's probably

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Speaker 1: used to running into all sorts of crazy things in

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Speaker 1: that line of work. So yeah, I think I had

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Speaker 1: more tears than she did, and I was like, no

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Speaker 1: alt So, speaking of beastings years or worse, I think

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Speaker 1: probably than what I got, but I was clearlow jacket

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Speaker 1: stings yellow. Yeah, sorry, my bad way worse. So I

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Speaker 1: was cleaning out the gutters one time at my rental property.

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Speaker 1: I was, you know, two floors up on the edge

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Speaker 1: of you know, certain death if I fall if I

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Speaker 1: fall down these two stories, or at least, you know,

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Speaker 1: not being able to use my for reas of my life. Right.

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Speaker 1: And so I'm cleaning out the gutters by hand, and

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Speaker 1: I hit this nest of bees and they totally you know,

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Speaker 1: I get stung like four or five times on my

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Speaker 1: hand in my arm, and it's all I can do

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Speaker 1: just to just to keep going, like just all right,

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Speaker 1: I'm okay, I'm okay, back up, back away from the ledge,

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Speaker 1: and yeah, it's just not fun doing that kind of stuff.

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Speaker 1: But I can see, like the old school comedy, just

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Speaker 1: the ladder like tipping back like you freak out and

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Speaker 1: just smashing. So I was like sitting on the roof

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Speaker 1: doing it. I wasn't even I wasn't on the ladder.

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Speaker 1: I was sitting on the roof. So, oh my god,

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Speaker 1: maybe like not the safest way to do it either.

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Speaker 1: I don't know, I probably wouldn't depends. I mean if

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Speaker 1: you have a low pitched roof, sitting on the roof

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Speaker 1: is isn't a bad way to go. But that does

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Speaker 1: make me think of one more thing before we get

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Speaker 1: to the beer we're drinking. I think we're really it's

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Speaker 1: icing people to wanna get their own get their own

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Speaker 1: rental property going. So in that same house, I just

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Speaker 1: recently had new gutters put in. Yes, so they were

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Speaker 1: ripping away from the house, and Uh, that's just not

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Speaker 1: good for the waterflow, right for what you know, water

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Speaker 1: can get in between you know, the walls and the

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Speaker 1: facial board and the utter. Yeah, yeah, that's bad. You

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Speaker 1: don't want that happening. So I got new gutters installed.

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Speaker 1: And it's worth, by the way, the extra hundred dollars

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Speaker 1: to get the gutter guards put on. When when you're

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Speaker 1: negotiating that with your gutter installer. Uh. And then this

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Speaker 1: was a small house, so on a bigger house it

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Speaker 1: could be you know, more than that, a whole two

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Speaker 1: hundred dollars, right, But one while they're up there, put

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Speaker 1: the gutter guards on. It's you going to save you

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Speaker 1: from having to clean out leaves often. And if you

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Speaker 1: hire someone to do it, you know, that's expensive. To

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Speaker 1: get done every six months, so instead get out your

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Speaker 1: flowers for itself and like in no time one year

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Speaker 1: or something like that, completely and just not having to

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Speaker 1: worry about it think about it. Yeah, it's so nice.

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Speaker 1: So I've done that. Every time I get new gutters

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Speaker 1: on at a property, I always, you know, put the

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Speaker 1: extra the leaf guard, not the you know, they do

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Speaker 1: advertisements for these specialty leaf guard systems which are really expensive,

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Speaker 1: but just the regular old metal ones that cover it

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Speaker 1: was a little a little great like little screen that exactly,

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Speaker 1: but just put those on at the same time. Completely

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Speaker 1: worth it. That's more and more. I'm at the stage

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Speaker 1: in life and maybe this is because we're getting older,

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Speaker 1: we're out of our out of our full years, but

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Speaker 1: I'm willing to spend just a little bit more to

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Speaker 1: kind of do something the right way, you know, just

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Speaker 1: go ahead and do it properly. Again, this kind of

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Speaker 1: goes back. I mean, if you listen to the last

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Speaker 1: episode we talked about rental properties, we talked about how

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Speaker 1: Joe and I both want to be landlords forever potentially,

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Speaker 1: Like this is kind of like our long term a

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Speaker 1: long term gig, and when you start thinking it, thinking

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Speaker 1: about it, through that lens, and I started thinking, Man,

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Speaker 1: do I want to have to come back in like

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Speaker 1: five years and deal with this sort of problem again

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Speaker 1: because I just kind of went went with the cheap

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Speaker 1: route on it. Yea more and more, I'm like, all right,

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Speaker 1: let's just spend an extra a few bucks now and

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Speaker 1: just to save the headache of a having to revisit it,

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Speaker 1: but then also to to have that expense again. You know,

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Speaker 1: I'm definitely getting the mindset of doing it right the

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Speaker 1: first time. Yeah, I completely agree. Uh And that actually,

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Speaker 1: you know, makes me think about the topic that we're

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Speaker 1: about to address. Frugality like do do we doesn't mean

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Speaker 1: spending the least amount possible or uh, like we're gonna

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Speaker 1: talk about doesn't mean getting value from what you purchased.

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Speaker 1: So we'll get to that in one second, but first,

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Speaker 1: let's pop this beer. Nice dude, I know you're so

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Speaker 1: excited about this beer. You literally, I mean you basically

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Speaker 1: skipped through the door when you when you come over,

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Speaker 1: I was like being over to the house. I was

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Speaker 1: like beaming from from ear to ear. So this, wait,

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Speaker 1: before you say it, you're gonna be so proud of

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Speaker 1: me and all of our listeners are gonna be so

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Speaker 1: proud too, because I looked up how to say it.

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Speaker 1: Look at you? Yeah, because okay, so since you know,

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Speaker 1: can I try and then you tell me if I'm right?

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Speaker 1: Dre Fontane? Would you say it one more time? Dre Fontane? Okay,

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Speaker 1: So I saw that some people say that from what

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Speaker 1: seemed like the most legitimate source. They say, so the

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Speaker 1: emphasis is on, Hey, so it's Dre fontanees. That's all right? Sure,

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Speaker 1: I don't know, man, we've gotten caught up with some names.

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Speaker 1: We've through some recently, you know. I figured if we

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Speaker 1: can at least maybe say the dang brewery. So again,

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Speaker 1: that's Dre Fontane in and yeah most I think most

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Speaker 1: people just say free Fontaine because I mean in the

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Speaker 1: translation literally three fountains. Yeah, that's right, right, Okay, So

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Speaker 1: that's it. That's all I'm gonna say. I want to

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Speaker 1: let you give the rest of the scoop. Having been

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Speaker 1: to Belgium, so I feel like I might be guilty

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Speaker 1: of saying this. Every time I would say something like

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Speaker 1: I'm so stoked for this beer or this is my

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Speaker 1: favorite style. I feel like that happens a lot, which

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Speaker 1: means I like a lot of beers and I have

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Speaker 1: a lot of favorite styles. Uh, this is definitely right

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Speaker 1: up there, though. This is from one of my favorite

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Speaker 1: breweries of all time that I've ever had anything from

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Speaker 1: in the whole world though, in the whole world. Yeah,

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Speaker 1: right there, right outside of Brussels, Belgium. And again, I

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Speaker 1: don't know how to pronounce it. Well, I'm gonna say

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Speaker 1: Dreef Fontaine, but this was their ud Creek, and an

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Speaker 1: ude creek is spontaneously fermented beer that is aged for

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Speaker 1: multiple years with cherries. Then I've had just a couple

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Speaker 1: of their beers before. They're hard to come by here

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Speaker 1: in the States and they're kind of expensive. And this

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Speaker 1: is one that I bought on my trip to Paris.

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Speaker 1: I got it at that beer store when I did

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Speaker 1: the beer trade with Chris, and so I'm I'm really

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Speaker 1: really excited to have this beer again because I love

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Speaker 1: everything these guys do, and a good creek cherry beer is, man,

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Speaker 1: it just does it for me. Yeah, and it's got

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Speaker 1: this beautiful red color, Matt beautiful, Yeah, nice kind of

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Speaker 1: a ruby burgundy looks gorgeous, you know what, Like it

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Speaker 1: just looks like a cherry. You feel like you can

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Speaker 1: actually stick your hand in the beer and pull out

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Speaker 1: a bunch of cherries. That's that's the way I feel

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Speaker 1: looking at this. So cheers, Bunny, cheers. So delicious. Once

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Speaker 1: I stop salivating after drinking this, I can actually talk.

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Speaker 1: It reminds me of like an old banana peel. Oh no,

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Speaker 1: I'm not selling it, but it's got that you know.

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Speaker 1: You know what I'm saying. You taste it, so, you know,

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Speaker 1: you know the way an old banana peal smells like

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Speaker 1: when it's kind of been sitting there at the bottom

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Speaker 1: of the lunch sack. I can see why you say that.

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Speaker 1: You feel it. Yep, you know. The weirdest taste was

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Speaker 1: so they but I like it. Yeah, I'm saying I'm

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Speaker 1: not saying that like, oh, gross old banana. I'm saying

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Speaker 1: that this is sort of what it what it evokes.

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Speaker 1: I guess I don't know, but I mean, if this

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Speaker 1: is what old banana peles tastes like, dude, turn me

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Speaker 1: up up for more, no doubt. So I'm so glad

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Speaker 1: you're able to bring this back to you. This is

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Speaker 1: delicious me too. So tree contane food creek. Man, if

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Speaker 1: you do find it, it's it's just got this big

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Speaker 1: number three on the bottle in a big green bottle.

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Speaker 1: So yeah, it's delicious, all right, Matt. Onto the topic

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Speaker 1: at hand. Frugality gives you options. Yeah, and I think

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Speaker 1: we really wanted to cover this topic, Matt, because we've

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Speaker 1: talked you know in some ways you know how to

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Speaker 1: cut your monthly bills or that you know there are

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Speaker 1: articles on our site about how to shop your insurance

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Speaker 1: arounds that you're paying the lowest amount possible, and there

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Speaker 1: are a lot of ways that you can save money

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Speaker 1: or think about money differently. We've covered a lot of

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Speaker 1: topics at this point, but but ultimately, in my opinion,

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Speaker 1: frugality kind of undergirds everything. And without a solid mentality

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Speaker 1: and reason for frugality, uh, all those other things just

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Speaker 1: out in the ether don't seem to really make a

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Speaker 1: lot of sense or click with without that kind of

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Speaker 1: core view of frugality and belief in frugality as a

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Speaker 1: principle of life. Yeah, that's right, I think frugality. It's

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Speaker 1: it's about time that we've sort of talked about and

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Speaker 1: spending entire episode. I know you've been wanting to do

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Speaker 1: this for a minute here, and so to actually spend

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Speaker 1: some time talking about frugality. Uh, it should become very

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Speaker 1: clear how that's like a core pillar of poor not

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Speaker 1: poor and the life we we try to live in

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Speaker 1: our attitude towards money and so a common view, uh,

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Speaker 1: that a lot of people have that we hear often

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Speaker 1: is that I make enough money to have the kind

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Speaker 1: of lifestyle that I want to live, So why what

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Speaker 1: I even want to be frugal and why should I

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Speaker 1: skimp on things? I think that's a lot of people's view, right.

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Speaker 1: They either think what's the point, like they have no

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Speaker 1: reason to to be frugal, or they think that they

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Speaker 1: already are being frugal, and in reality maybe they're really not.

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Speaker 1: We'll spend a little bit of time talking about that.

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Speaker 1: But I mean the biggest answer though to to the

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Speaker 1: question is that things change. Right, So your income, jobs,

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Speaker 1: the goals that you have in life, all that can change.

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Speaker 1: And so if you think that my life is fine

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Speaker 1: the way it is now, I can just spend every

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Speaker 1: penny that I make towards you know, sustaining my lifestyle. Unfortunately,

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Speaker 1: that's just a near sided sort of view to life

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Speaker 1: and in particular your finances, and so spending less than

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Speaker 1: having the ability to live on less. I mean, that's

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Speaker 1: the answer, right, and essentially that's what frugality is. Yeah,

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Speaker 1: mat And I've never really heard complaints from people that

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Speaker 1: you know, saved too much money, that thought about their future,

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Speaker 1: that were lived on less than they made. But man,

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Speaker 1: I've seen the plight of people that have done the opposite, right,

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Speaker 1: that have that have racked up credit card debt, that

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Speaker 1: owe everybody and anybody, and that have sacrificed, you know,

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Speaker 1: frugality for the current lifestyle and wants as opposed to needs,

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Speaker 1: and that puts you in a tough financial situation as

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Speaker 1: well as like a mental situation right to have those

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Speaker 1: things you know weighing over you, as opposed to having

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Speaker 1: you know, money set aside in your bank account that's

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Speaker 1: ready to cover any expense that comes down, like your

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Speaker 1: h VACT expense. Right, Like a frugal person that has

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Speaker 1: you know, the savings set aside to cover you know,

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Speaker 1: more than five thousand dollar expense that just boom happens.

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Speaker 1: You know that you know it's gonna happen at some point,

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Speaker 1: but most people have no idea how to handle something

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Speaker 1: like that. And that's why we think frugality is kind

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Speaker 1: of this core. I mean, essentially, it's this framework to

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Speaker 1: how you live life, Like frugality has to be a

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Speaker 1: huge part of this framework for how you live life,

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Speaker 1: or you're gonna live on on steady footing and that's

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Speaker 1: just man, that's just a tough way to live. And

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Speaker 1: so that's yeah, that's why frugality is so important to us. Yeah,

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Speaker 1: what you said earlier honestly makes me think of the

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Speaker 1: sort of end of life comments, you know, the discussion

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Speaker 1: you hear people have when they're on their deathbed, and

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Speaker 1: how what you said is like, no one is ever

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Speaker 1: sort of at their at the end of their life

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Speaker 1: saying oh, I've I've saved too much money. But what

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Speaker 1: I think what you do here is you hear people say, oh,

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Speaker 1: I work too much, And I think our answer to

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Speaker 1: that would be that when you spend money and you're

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Speaker 1: not frugal and you spend spend, spend, you are forced

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Speaker 1: to work. And that is the biggest regret that people have.

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Speaker 1: You hear people talk about how they spend way too

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Speaker 1: much time working and how they did not spend enough

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Speaker 1: time with their loved ones, with their family, or with

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Speaker 1: their friends. And that's essentially what we're trying to avoid.

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Speaker 1: We're trying to take the steps necessary now to not

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Speaker 1: keep us locked into working long hours for the rest

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Speaker 1: of our lives to where we aren't doing the things

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Speaker 1: that matter most to us. Yeah, so we're gonna discuss,

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Speaker 1: you know, white frugality is awesome, and how it builds resilience,

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Speaker 1: and then ultimately we're gonna get to kind of some

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Speaker 1: practical takeaways for you on how to kind of bring

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Speaker 1: frugality back into focus in your life. But first let's

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Speaker 1: kind of define it. Frugality in my mind, is a

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Speaker 1: question of value, and so sometimes it does mean buying

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Speaker 1: something more expensive but using it for a long long time. Right,

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Speaker 1: that's actually a frugal move in my opinion. Whereas I

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Speaker 1: know that you know, the common thought process towards frugality

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Speaker 1: is you know people that that where you know, six

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Speaker 1: dollar Walmart shoes or something like that, or don't have things.

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Speaker 1: You know, there are things break, they wear out. It's

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Speaker 1: almost like I think sometimes you think of like a hoarder,

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Speaker 1: someone that has a lot of things, but they're all

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Speaker 1: cheap possessions, And in my mind, that's not frugality at all.

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Speaker 1: That's someone who you know, who buys too much crap

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Speaker 1: um and who has a mental illness that too. It's

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Speaker 1: like a legitimate thing, right. So, but in general, like,

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Speaker 1: being frugal doesn't mean being cheap, right, but it does

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Speaker 1: mean buying things that are of value to you, being

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Speaker 1: you know, conscious about the things that you are purchasing

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Speaker 1: and making sure that what you are buying is going

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Speaker 1: to add value to your life. And I think you know, actually,

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Speaker 1: in the time that we're in right now, it's much

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Speaker 1: harder to do that, even because you can one click

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Speaker 1: on Amazon. Amazon sells these little buttons man like one push,

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Speaker 1: Like you can put it under your desk or something

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Speaker 1: like that and just push the button and I guess

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Speaker 1: it communicates via Wi Fi to Amazon that you need

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Speaker 1: more toilet paper or whatever that is. So it's so

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Speaker 1: much harder to be a mindful frugal shopper in today's

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Speaker 1: day and age. But that makes it all the more

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Speaker 1: important because we have all of these competing messages for

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Speaker 1: our attention, these advertisements and these easy ways to buy,

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Speaker 1: and so you know, frugality is uh take it takes

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Speaker 1: much more like training of your mind and resiliency towards

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Speaker 1: you know, some of those marketing efforts and those easy

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Speaker 1: abilities to buy so that you can kind of create

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Speaker 1: this discipline of frugality in your life. Joel Man, I

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Speaker 1: completely agree with you. Right. Yeah, So, like the entire

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Speaker 1: marketing and advertising industry with us out there, that is

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Speaker 1: all that they're trying to do. They're trying to market you.

425
00:19:09,880 --> 00:19:12,960
Speaker 1: They're trying to sell you the latest and greatest shiny thing,

426
00:19:13,680 --> 00:19:16,960
Speaker 1: and frugality couldn't be any further from that. And they're

427
00:19:16,960 --> 00:19:19,639
Speaker 1: spending tons of research trying to figure out how to

428
00:19:19,680 --> 00:19:21,440
Speaker 1: get in your head to make you think that like

429
00:19:21,520 --> 00:19:24,000
Speaker 1: that you need what it is that they're selling, and

430
00:19:24,600 --> 00:19:26,600
Speaker 1: like who's on your side of the court, right, Like,

431
00:19:26,600 --> 00:19:30,880
Speaker 1: like who is on your behalf fighting those companies and

432
00:19:31,080 --> 00:19:33,640
Speaker 1: keeping you from from making those things? Like you are

433
00:19:33,760 --> 00:19:36,240
Speaker 1: like that is the only thing and you know, hopefully

434
00:19:36,320 --> 00:19:39,080
Speaker 1: us to like I'm gonna say, you and me talking

435
00:19:39,080 --> 00:19:41,680
Speaker 1: to this here, but yeah, I mean it's a kind

436
00:19:41,680 --> 00:19:43,680
Speaker 1: of a constant battle. It's because it's it's going to

437
00:19:43,760 --> 00:19:46,960
Speaker 1: be a constant, uphill sort of struggle to essentially fight

438
00:19:47,000 --> 00:19:50,560
Speaker 1: against that. But yeah, man, for me, a short definition

439
00:19:50,640 --> 00:19:54,159
Speaker 1: for frugality is just thrifty and efficient, Like what's not

440
00:19:54,200 --> 00:19:56,240
Speaker 1: to like about that. I hear those two words, I'm

441
00:19:56,280 --> 00:20:00,000
Speaker 1: just like, ah, like that sounds so good, like simplicity,

442
00:20:00,040 --> 00:20:06,040
Speaker 1: the efficiency, thriftiness. But unfortunately, the entire advertising industry is

443
00:20:06,040 --> 00:20:09,240
Speaker 1: out there and there's just that negative connotation that's associated

444
00:20:09,320 --> 00:20:12,359
Speaker 1: with just the very word frugality, and it makes you

445
00:20:12,400 --> 00:20:16,160
Speaker 1: think cheap, denying yourself, and like nobody wants to say

446
00:20:16,200 --> 00:20:18,600
Speaker 1: no to themselves, and discipline and all these sort of

447
00:20:18,640 --> 00:20:21,160
Speaker 1: hard words that have these these connotations that we try

448
00:20:21,200 --> 00:20:23,919
Speaker 1: to avoid. But it's like frugality equals buzz kill or

449
00:20:23,920 --> 00:20:26,560
Speaker 1: something like that. Yeah, yeah, exactly. It's like I'm going

450
00:20:26,600 --> 00:20:30,200
Speaker 1: to be the lame down yeah, wet blanket, like not

451
00:20:30,359 --> 00:20:32,840
Speaker 1: here at the party. Yeah. Um, you know that's up

452
00:20:32,880 --> 00:20:35,159
Speaker 1: to us as consumers. It's up to people like us

453
00:20:35,160 --> 00:20:37,520
Speaker 1: talking about this hopefully as well that are able to

454
00:20:37,560 --> 00:20:39,600
Speaker 1: get others to talk about it and hopefully sort of

455
00:20:39,720 --> 00:20:44,320
Speaker 1: change the attitude and the culture around the word frugality

456
00:20:44,400 --> 00:20:46,920
Speaker 1: just in and of itself. Yeah, I mean, I think ultimately,

457
00:20:46,960 --> 00:20:49,480
Speaker 1: you know, when it comes to advertising and marketing, usually

458
00:20:49,480 --> 00:20:51,280
Speaker 1: the trick is to make you feel bad about where

459
00:20:51,320 --> 00:20:53,560
Speaker 1: you currently are or that you are lacking in some way,

460
00:20:53,560 --> 00:20:55,880
Speaker 1: form or fashion, that you don't have enough or that

461
00:20:55,960 --> 00:20:57,639
Speaker 1: you know, your life's a bummer until you get this

462
00:20:57,680 --> 00:21:00,480
Speaker 1: new product. But you don't need an Ellie de bulb

463
00:21:00,520 --> 00:21:02,639
Speaker 1: but with a speaker in it that plays music in

464
00:21:02,680 --> 00:21:05,840
Speaker 1: every room. And you know what about one that changes colors? Okay,

465
00:21:05,880 --> 00:21:07,520
Speaker 1: that you may need that. No, no, of course you

466
00:21:07,560 --> 00:21:09,480
Speaker 1: don't need that. And you don't need because I would

467
00:21:09,520 --> 00:21:10,840
Speaker 1: rather have the one with the speaker in it before

468
00:21:10,840 --> 00:21:12,440
Speaker 1: I'd do the color totally. I mean that would be

469
00:21:12,480 --> 00:21:14,800
Speaker 1: kind of cool. But and you don't need, no even

470
00:21:14,840 --> 00:21:17,359
Speaker 1: necessary and like a speaker, and you don't need you know,

471
00:21:17,400 --> 00:21:19,679
Speaker 1: the newest generation of iPad. And there are all these

472
00:21:19,920 --> 00:21:23,080
Speaker 1: you know things that and there's these you know these yeah,

473
00:21:23,119 --> 00:21:25,479
Speaker 1: these crafty commercials that cost millions of dollars that are

474
00:21:25,520 --> 00:21:28,080
Speaker 1: produced to make you feel like you need that new thing. Dude,

475
00:21:28,119 --> 00:21:29,879
Speaker 1: is it no wonder that the number one thing that

476
00:21:29,920 --> 00:21:33,240
Speaker 1: Alexa does or like the Amazon little Echo dots and

477
00:21:33,280 --> 00:21:35,440
Speaker 1: you know, all those things, Yeah, what are the best

478
00:21:35,440 --> 00:21:37,199
Speaker 1: at doing that? You hear people complaining about that their

479
00:21:37,240 --> 00:21:41,040
Speaker 1: kids accidentally did ordered crap completely, Like, is it is

480
00:21:41,040 --> 00:21:43,159
Speaker 1: it any sort of surprise that the best thing that

481
00:21:43,200 --> 00:21:45,760
Speaker 1: those things are good at doing is purchasing things. It's

482
00:21:45,800 --> 00:21:47,760
Speaker 1: like it just feeds into their model, you know, like

483
00:21:47,800 --> 00:21:49,840
Speaker 1: this is what they want, like wake up. Well in

484
00:21:49,840 --> 00:21:52,760
Speaker 1: this In my mind, the scariest things about those speakers are,

485
00:21:52,920 --> 00:21:54,600
Speaker 1: you know, what we're training our kids to think is

486
00:21:54,680 --> 00:21:56,800
Speaker 1: normal and to think is right, you know, and and

487
00:21:56,800 --> 00:22:00,920
Speaker 1: and to just order things blindly through this void activated speaker,

488
00:22:01,080 --> 00:22:04,640
Speaker 1: not knowing what the price is even more frightening. So,

489
00:22:04,680 --> 00:22:07,320
Speaker 1: now that we have a definition of frugality, Matt, let's

490
00:22:07,320 --> 00:22:19,160
Speaker 1: take a quick break. We'll be right back. Let's get

491
00:22:19,160 --> 00:22:21,200
Speaker 1: back to it, man, Let's talk some more about frugality.

492
00:22:21,320 --> 00:22:25,000
Speaker 1: You want to talk more about now why frugality is awesome? Yeah? So,

493
00:22:25,240 --> 00:22:27,840
Speaker 1: in my opinion, and the title of this episode is

494
00:22:28,240 --> 00:22:31,879
Speaker 1: frugality gives you options, And I mean the reason for it,

495
00:22:31,880 --> 00:22:34,919
Speaker 1: It all starts with that options are at your disposal

496
00:22:35,240 --> 00:22:37,800
Speaker 1: if you lead a frugal lifestyle and and that just

497
00:22:37,840 --> 00:22:40,400
Speaker 1: doesn't happen you know, overnight or you know, in a

498
00:22:40,440 --> 00:22:42,679
Speaker 1: month or two of being frugal. Uh it, you know,

499
00:22:42,680 --> 00:22:44,639
Speaker 1: it takes a kind of an ability to go in

500
00:22:44,640 --> 00:22:46,760
Speaker 1: that direction over a long period of time and and

501
00:22:46,880 --> 00:22:49,680
Speaker 1: save and be frugal. But ultimately, if you do that,

502
00:22:49,800 --> 00:22:52,760
Speaker 1: if you can live a frugal lifestyle over an extended

503
00:22:52,760 --> 00:22:55,600
Speaker 1: period of time. Options that weren't previously available to you

504
00:22:55,680 --> 00:22:59,399
Speaker 1: manifest themselves, and so you can, as an example, decide

505
00:22:59,440 --> 00:23:02,000
Speaker 1: that you know, one of the parents in a family

506
00:23:02,040 --> 00:23:03,879
Speaker 1: and a nuclear family wants to stay at home with

507
00:23:03,920 --> 00:23:05,960
Speaker 1: the kids, and that's just not an option that's open

508
00:23:06,000 --> 00:23:08,440
Speaker 1: to many Americans these days, both parents feel compelled to work.

509
00:23:08,680 --> 00:23:11,879
Speaker 1: Another option if you maintain a lifestyle of frugality is

510
00:23:11,960 --> 00:23:14,480
Speaker 1: that it gives you extra time to find a new

511
00:23:14,560 --> 00:23:16,800
Speaker 1: job if you get laid off, as opposed to taking,

512
00:23:16,840 --> 00:23:19,120
Speaker 1: you know, the next job that comes along with a

513
00:23:19,119 --> 00:23:21,240
Speaker 1: company that you don't like, or at a pay that

514
00:23:21,359 --> 00:23:24,040
Speaker 1: you're not okay with but that you feel forced to

515
00:23:24,080 --> 00:23:27,960
Speaker 1: take just because you need that job right. Another potential

516
00:23:28,000 --> 00:23:30,960
Speaker 1: option open to you if you maintain a frugal lifestyle

517
00:23:31,000 --> 00:23:33,640
Speaker 1: over a period of time is that you can take

518
00:23:33,680 --> 00:23:35,600
Speaker 1: a job that pays less just because you're going to

519
00:23:35,720 --> 00:23:37,640
Speaker 1: enjoy it more and you'll have more time at home,

520
00:23:37,880 --> 00:23:39,960
Speaker 1: you know, with your family and in your neighborhood with

521
00:23:40,000 --> 00:23:42,159
Speaker 1: your friends. But those are the kind of options that

522
00:23:42,200 --> 00:23:45,280
Speaker 1: only manifest themselves to people that maintain a frugal lifestyle

523
00:23:45,320 --> 00:23:47,440
Speaker 1: that save a good portion of what they make that

524
00:23:47,560 --> 00:23:49,800
Speaker 1: refused to you know, spend up to the limits of

525
00:23:49,840 --> 00:23:52,520
Speaker 1: their income. Yeah. Man, that's right. And honestly, to another

526
00:23:52,520 --> 00:23:54,320
Speaker 1: way I like to look at like the options, right

527
00:23:54,320 --> 00:23:56,800
Speaker 1: that frugality gives us is that I sort of like

528
00:23:56,840 --> 00:24:00,159
Speaker 1: to replace the word options with goals. And so in

529
00:24:00,200 --> 00:24:02,840
Speaker 1: my mind, it's hard for me to be frugal if

530
00:24:02,840 --> 00:24:04,720
Speaker 1: I don't have a reason to be frugal, right, and

531
00:24:04,720 --> 00:24:06,639
Speaker 1: so we like the way we're talking about it here

532
00:24:06,680 --> 00:24:09,840
Speaker 1: is that frugality gives you options, and so in my mind,

533
00:24:09,880 --> 00:24:12,679
Speaker 1: it all starts with the options because for me, like

534
00:24:12,720 --> 00:24:16,119
Speaker 1: those options are my goals. Sometimes they do arise like

535
00:24:16,160 --> 00:24:18,239
Speaker 1: that where you realize that there's something that you can do.

536
00:24:18,800 --> 00:24:20,800
Speaker 1: But just the way my brain works, I like to

537
00:24:20,800 --> 00:24:23,159
Speaker 1: sort of put those options out there as goals almost

538
00:24:23,160 --> 00:24:25,680
Speaker 1: that I'm just you know, striving towards. And so when

539
00:24:25,720 --> 00:24:27,800
Speaker 1: I have those options, when I have those goals set

540
00:24:27,800 --> 00:24:30,360
Speaker 1: out before me, for me, that gives me purpose, right,

541
00:24:30,400 --> 00:24:33,840
Speaker 1: and then in pursuit of that goal, that specific goal,

542
00:24:34,840 --> 00:24:37,080
Speaker 1: then I can choose to be frugal, you know, to

543
00:24:37,119 --> 00:24:40,040
Speaker 1: achieve that specific option. Let that you know that goal,

544
00:24:40,680 --> 00:24:43,480
Speaker 1: what that looks like. I think from person to person varies,

545
00:24:43,560 --> 00:24:45,240
Speaker 1: you know, for something, for one person that might look

546
00:24:45,280 --> 00:24:47,000
Speaker 1: like one thing and for another person that might look

547
00:24:47,000 --> 00:24:50,320
Speaker 1: like something else. Because everyone's goals and their options that

548
00:24:50,359 --> 00:24:53,359
Speaker 1: they're considering are all different. I think it's kind of

549
00:24:53,440 --> 00:24:56,520
Speaker 1: up to the individual as to where to cut back. Yeah, man,

550
00:24:56,520 --> 00:24:59,919
Speaker 1: for me, that helps so much to consider options interchangea

551
00:25:00,560 --> 00:25:03,080
Speaker 1: with the word goals. Yeah, that's great, man, that's a

552
00:25:03,080 --> 00:25:05,000
Speaker 1: great thought. And so sort of on that note, like

553
00:25:05,000 --> 00:25:07,280
Speaker 1: you kind of gave some examples right of, like sort

554
00:25:07,280 --> 00:25:09,200
Speaker 1: of the different options that might come up for folks,

555
00:25:09,400 --> 00:25:12,600
Speaker 1: and even other things too, I think, like starting a business,

556
00:25:12,600 --> 00:25:14,520
Speaker 1: Like if you know that there's something that you've always

557
00:25:14,560 --> 00:25:16,800
Speaker 1: sort of wanted to try, well, if you're frugal now,

558
00:25:17,320 --> 00:25:19,960
Speaker 1: that gives you the flexibility and the you know, even

559
00:25:20,040 --> 00:25:24,240
Speaker 1: the potential the option to try starting that business down

560
00:25:24,240 --> 00:25:26,600
Speaker 1: the road. Oftentimes there's a lot of debt that is

561
00:25:26,680 --> 00:25:28,920
Speaker 1: associated with starting a new business, but that doesn't always

562
00:25:28,960 --> 00:25:31,000
Speaker 1: have to be the case. And then another one I

563
00:25:31,000 --> 00:25:33,000
Speaker 1: was thinking of too, is like maybe what some would

564
00:25:33,040 --> 00:25:36,280
Speaker 1: consider a less noble goal, but even like a sweet

565
00:25:36,320 --> 00:25:39,480
Speaker 1: vacation or traveling. You know, once you are financially independent

566
00:25:39,560 --> 00:25:42,160
Speaker 1: or or once you retire. I think that's a noble

567
00:25:42,200 --> 00:25:46,080
Speaker 1: goal and I think that's something that is worth driving towards. Yeah,

568
00:25:46,080 --> 00:25:48,840
Speaker 1: and I think even if you don't have well formulated

569
00:25:48,840 --> 00:25:52,240
Speaker 1: goals right now, there are reasons for frugality. I think

570
00:25:52,280 --> 00:25:54,080
Speaker 1: for me and for a lot of people. I know,

571
00:25:54,160 --> 00:25:56,199
Speaker 1: there are things that pop up in life that you

572
00:25:56,200 --> 00:25:58,240
Speaker 1: want to be prepared for and that you might not

573
00:25:58,400 --> 00:26:01,520
Speaker 1: even have an inkling are going to be something you're interested.

574
00:26:01,560 --> 00:26:04,720
Speaker 1: And so, you know, when I was started being super

575
00:26:04,760 --> 00:26:07,320
Speaker 1: frugal and saving you know, a large percentage of my

576
00:26:07,320 --> 00:26:10,399
Speaker 1: income just in my early twenties, I hadn't met my

577
00:26:10,480 --> 00:26:13,320
Speaker 1: wife yet, I didn't have kids. Some of the goals

578
00:26:13,359 --> 00:26:15,520
Speaker 1: that I have in mind now weren't cemented at all,

579
00:26:15,600 --> 00:26:17,879
Speaker 1: and actually, you know, weren't even really on my radar.

580
00:26:18,160 --> 00:26:20,920
Speaker 1: And so, you know, the act of being frugal, these

581
00:26:20,920 --> 00:26:23,480
Speaker 1: goals that you think of and and dream up are

582
00:26:23,640 --> 00:26:25,440
Speaker 1: great things to keep in the forefront of your mind.

583
00:26:25,600 --> 00:26:27,480
Speaker 1: But also realized that even if you don't have well

584
00:26:27,560 --> 00:26:30,560
Speaker 1: formulated goals right now, maybe especially if you're you know,

585
00:26:30,640 --> 00:26:33,919
Speaker 1: in your late teens early twenties, there's still a reason

586
00:26:33,960 --> 00:26:38,119
Speaker 1: to be frugal because those goals will manifest themselves over time,

587
00:26:38,800 --> 00:26:40,840
Speaker 1: you know, as you grow. And so I know, for me,

588
00:26:40,920 --> 00:26:42,840
Speaker 1: you know, being frugal even when I didn't have those

589
00:26:42,840 --> 00:26:45,719
Speaker 1: clear cut goals. And also because you don't really know

590
00:26:45,800 --> 00:26:47,399
Speaker 1: what's going to happen to you in life. Yeah, that's

591
00:26:47,400 --> 00:26:48,960
Speaker 1: where I thought you were going to go initially, like

592
00:26:49,000 --> 00:26:51,480
Speaker 1: the bad stuff, right, Yeah, there's that too. And and

593
00:26:51,520 --> 00:26:53,680
Speaker 1: so I got new men sick or somebody else getting

594
00:26:53,680 --> 00:26:56,280
Speaker 1: said completely. I got an email from a listener and

595
00:26:56,840 --> 00:26:58,960
Speaker 1: it made me think a lot about my my own

596
00:26:59,040 --> 00:27:02,000
Speaker 1: reasons for frugality because he told me that his wife,

597
00:27:02,080 --> 00:27:05,480
Speaker 1: you know, had gotten sick, and um, he was really

598
00:27:05,680 --> 00:27:07,520
Speaker 1: you know, obviously it's you know, it's a terrible thing,

599
00:27:07,560 --> 00:27:10,120
Speaker 1: but he was really really glad that he had been

600
00:27:10,160 --> 00:27:13,200
Speaker 1: frugal for so many years because he was able to

601
00:27:13,560 --> 00:27:17,120
Speaker 1: take off work essentially just quit his job, um for

602
00:27:17,960 --> 00:27:20,000
Speaker 1: at least a year. He he thought that he would

603
00:27:20,040 --> 00:27:22,119
Speaker 1: be able to just be without a job because he

604
00:27:22,160 --> 00:27:24,199
Speaker 1: had saved so well and he could just spend that

605
00:27:24,240 --> 00:27:26,320
Speaker 1: time with his wife. And I think about how many

606
00:27:26,359 --> 00:27:29,359
Speaker 1: people go through something difficult like that, having cared for

607
00:27:29,600 --> 00:27:32,359
Speaker 1: a parent or a spouse or a child, whatever it

608
00:27:32,400 --> 00:27:33,800
Speaker 1: may be. You had to be able to have that

609
00:27:33,880 --> 00:27:36,639
Speaker 1: option to do that. He said, like, obviously that wouldn't

610
00:27:36,640 --> 00:27:38,720
Speaker 1: be a goal, Like, I guess you couldn't really or

611
00:27:38,720 --> 00:27:41,200
Speaker 1: you wouldn't want to use the interchangeably like as like, oh,

612
00:27:41,240 --> 00:27:43,440
Speaker 1: that's a goal, that's something I want to I want

613
00:27:43,440 --> 00:27:44,920
Speaker 1: to have happened. But that is something you'd want to

614
00:27:44,920 --> 00:27:46,880
Speaker 1: be able to do, right, completely, want to be able

615
00:27:46,880 --> 00:27:49,040
Speaker 1: to have the option to care for those people, And

616
00:27:49,080 --> 00:27:52,199
Speaker 1: it's not something you're necessarily working towards hoping that that

617
00:27:52,280 --> 00:27:55,440
Speaker 1: takes place. But like you said, that's a great way. Yeah,

618
00:27:55,480 --> 00:27:58,080
Speaker 1: as far as it manifesting and having having that option

619
00:27:58,119 --> 00:28:00,240
Speaker 1: to do that, it's great. Yeah. I think most people,

620
00:28:00,280 --> 00:28:02,560
Speaker 1: you know, something like that happens, and I think the

621
00:28:02,600 --> 00:28:04,800
Speaker 1: guilt of having to work and then also try to

622
00:28:04,840 --> 00:28:06,879
Speaker 1: care for that loved one or you know, and this

623
00:28:06,960 --> 00:28:09,720
Speaker 1: is just one scenario, but that's just a difficult place

624
00:28:09,720 --> 00:28:11,800
Speaker 1: to be and not to mention just timing wise, you know,

625
00:28:11,880 --> 00:28:14,200
Speaker 1: you feel drawn away to work and you feel like

626
00:28:14,240 --> 00:28:16,040
Speaker 1: you can't spend time with them in the way that

627
00:28:16,080 --> 00:28:18,359
Speaker 1: you wanted. So I think, you know, there are are

628
00:28:18,400 --> 00:28:20,920
Speaker 1: a lot of reasons for frugality, but a good one

629
00:28:21,119 --> 00:28:23,040
Speaker 1: is for those things that are going to pop up

630
00:28:23,040 --> 00:28:24,840
Speaker 1: that you have no idea what they are yet you

631
00:28:24,840 --> 00:28:27,000
Speaker 1: can't even cement it as a goal in your mind.

632
00:28:27,320 --> 00:28:30,320
Speaker 1: But that frugality and having a savings mindset can provide

633
00:28:30,320 --> 00:28:33,560
Speaker 1: these amazing benefits at completely unexpected times in your life

634
00:28:33,760 --> 00:28:35,600
Speaker 1: that you can't even plan for and don't know whether

635
00:28:35,640 --> 00:28:38,000
Speaker 1: they're going to happen or not yet. Yeah, man, that

636
00:28:38,120 --> 00:28:39,880
Speaker 1: makes me honestly think of what you're saying in a

637
00:28:39,920 --> 00:28:42,560
Speaker 1: second ago, right, like how it's okay to start and

638
00:28:42,600 --> 00:28:45,320
Speaker 1: it's encouraged to start being frugal now, even if you

639
00:28:45,320 --> 00:28:48,560
Speaker 1: don't necessarily have goals. And I think that even if

640
00:28:48,560 --> 00:28:50,800
Speaker 1: you do have goals, even if you have like say

641
00:28:50,920 --> 00:28:52,920
Speaker 1: you're like, well, I don't want to have kids. That's

642
00:28:52,960 --> 00:28:55,320
Speaker 1: just a goal of mine. It's a kill of mine

643
00:28:55,320 --> 00:28:57,520
Speaker 1: to not have any kids, to have children. And if

644
00:28:57,520 --> 00:28:59,400
Speaker 1: you have kids and that's your goal, that's terrible, Like

645
00:28:59,440 --> 00:29:02,160
Speaker 1: you can't do a coming from the dad's of daughters

646
00:29:02,160 --> 00:29:04,480
Speaker 1: over here, or you might say that like, oh, I

647
00:29:04,560 --> 00:29:06,640
Speaker 1: love my job. My goal is just to keep working.

648
00:29:06,680 --> 00:29:08,040
Speaker 1: I you know, I love what I do. I find

649
00:29:08,080 --> 00:29:11,400
Speaker 1: great satisfaction in that. And the fact is things change,

650
00:29:11,440 --> 00:29:14,760
Speaker 1: goals change, people change, the people that you work with

651
00:29:14,760 --> 00:29:17,720
Speaker 1: at work, like they change, and I just know myself

652
00:29:17,800 --> 00:29:20,320
Speaker 1: as well, and I know that I changed my mind,

653
00:29:20,960 --> 00:29:22,840
Speaker 1: and so I might tell myself that, like, this is

654
00:29:22,880 --> 00:29:25,920
Speaker 1: what I want to do forever, but who dude, who knows,

655
00:29:25,920 --> 00:29:27,640
Speaker 1: Like I don't know what, like what I'm really going

656
00:29:27,680 --> 00:29:29,800
Speaker 1: to be thinking in ten years or and so some

657
00:29:29,880 --> 00:29:31,800
Speaker 1: of that is sort of like taking care of your

658
00:29:31,840 --> 00:29:33,880
Speaker 1: future self a little bit, because you know that, like

659
00:29:33,920 --> 00:29:35,840
Speaker 1: even though right now you say, oh, this is what

660
00:29:35,880 --> 00:29:37,560
Speaker 1: I'm gonna do for the rest of my life. I'm

661
00:29:37,560 --> 00:29:39,720
Speaker 1: going to be a landlord for the rest of my life,

662
00:29:40,200 --> 00:29:42,080
Speaker 1: which is what we said at the beginning of the episode,

663
00:29:42,160 --> 00:29:44,200
Speaker 1: or a podcaster. We'll be doing this till the day

664
00:29:44,200 --> 00:29:46,719
Speaker 1: we die. We know that for sure exactly. That's not

665
00:29:46,760 --> 00:29:50,280
Speaker 1: going to change, mark my words. But you know, like

666
00:29:50,320 --> 00:29:53,360
Speaker 1: we love it now. But it's just wise to be smart,

667
00:29:53,480 --> 00:29:55,720
Speaker 1: and it's just it's just wintse to to look ahead,

668
00:29:55,760 --> 00:29:58,920
Speaker 1: to not be so nearsighted into plan Yeah, there's a

669
00:29:58,920 --> 00:30:01,320
Speaker 1: lot of wisdom to raining even if you don't know

670
00:30:01,360 --> 00:30:03,720
Speaker 1: what you're planning for. Yeah, man, that's that's so true.

671
00:30:03,760 --> 00:30:06,040
Speaker 1: And something else as well is to not be so

672
00:30:06,160 --> 00:30:08,720
Speaker 1: tempted to just tell yourself that, oh well, I'll just

673
00:30:08,800 --> 00:30:11,560
Speaker 1: work more or you know, I'll just earn more money.

674
00:30:11,680 --> 00:30:13,600
Speaker 1: I think for a lot of folks, especially for younger,

675
00:30:13,680 --> 00:30:15,520
Speaker 1: younger folks that sort of had their whole career ahead

676
00:30:15,560 --> 00:30:17,760
Speaker 1: of them, that is a huge temptation, right, And so

677
00:30:17,840 --> 00:30:20,640
Speaker 1: there's a there's sort of two sides of saving money, right.

678
00:30:20,760 --> 00:30:23,640
Speaker 1: You can either spend less or you can earn more.

679
00:30:23,680 --> 00:30:25,840
Speaker 1: And I think there is just so much more emphasis

680
00:30:25,880 --> 00:30:28,840
Speaker 1: placed on earning more, Like that's the exciting thing. That's

681
00:30:28,840 --> 00:30:30,520
Speaker 1: what you hear people talking about. Like those are the

682
00:30:30,600 --> 00:30:33,760
Speaker 1: raises and the advancements and the promotions, all the exciting,

683
00:30:33,800 --> 00:30:36,719
Speaker 1: like the big windfalls. That's what people focus on. Nobody

684
00:30:36,760 --> 00:30:40,440
Speaker 1: focuses on trying to be more efficient, right, Like like

685
00:30:40,480 --> 00:30:43,280
Speaker 1: I said earlier, thrifty and efficient and simple, Like what's

686
00:30:43,280 --> 00:30:45,360
Speaker 1: not to like about that? Like the more complicated this

687
00:30:45,400 --> 00:30:47,560
Speaker 1: world gets, I feel like, the more that to me

688
00:30:47,640 --> 00:30:51,320
Speaker 1: that sounds appealing being frugal. And that's what being frugal

689
00:30:51,520 --> 00:30:53,800
Speaker 1: is because as soon as you stop working, your income

690
00:30:53,840 --> 00:30:56,360
Speaker 1: stops coming in. And if you're used to spending every

691
00:30:56,400 --> 00:30:59,600
Speaker 1: penny that you have and you are not frugal, then

692
00:31:00,000 --> 00:31:01,640
Speaker 1: gonna find yourself in a world of her with zero

693
00:31:01,680 --> 00:31:04,360
Speaker 1: margin in your life. Yeah, man, I think we've mentioned

694
00:31:04,400 --> 00:31:07,720
Speaker 1: that word on the show before, but margin, dude, that's huge.

695
00:31:07,760 --> 00:31:10,760
Speaker 1: And there's so many people living lives right now because

696
00:31:10,800 --> 00:31:13,760
Speaker 1: of a lack of frugality with no margin for error,

697
00:31:13,840 --> 00:31:17,560
Speaker 1: right like no HVAC that can go out, no transmission

698
00:31:17,600 --> 00:31:20,560
Speaker 1: that can fail, or man, even a lot smaller things

699
00:31:20,600 --> 00:31:23,080
Speaker 1: than that, you know, an electricity bill that's a little

700
00:31:23,080 --> 00:31:25,320
Speaker 1: bit higher that month that they can barely afford. And

701
00:31:25,520 --> 00:31:30,719
Speaker 1: frugality is the key to placing yourself in a situation

702
00:31:31,080 --> 00:31:34,480
Speaker 1: where that's not going to happen to you. And I think, uh,

703
00:31:34,560 --> 00:31:39,720
Speaker 1: frugality too. Sometimes it gets positioned as clipping coupons or

704
00:31:39,880 --> 00:31:42,560
Speaker 1: you know, cutting Latte's out of your life, right, And

705
00:31:42,600 --> 00:31:45,560
Speaker 1: sometimes it is the small things that add up, the

706
00:31:45,840 --> 00:31:48,000
Speaker 1: tiny things that are you know, dragging your budget down

707
00:31:48,400 --> 00:31:50,520
Speaker 1: or are killing you every month, And you know that

708
00:31:50,680 --> 00:31:52,840
Speaker 1: is definitely a part of frugality. It's looking at every

709
00:31:52,880 --> 00:31:55,640
Speaker 1: purchase and seeing where it adds value. And maybe you

710
00:31:55,680 --> 00:31:58,000
Speaker 1: do need to cut out eating your lunch out at

711
00:31:58,040 --> 00:32:01,120
Speaker 1: work with your coworkers and brown bagging it, or you know,

712
00:32:01,160 --> 00:32:03,680
Speaker 1: not getting coffee a couple of times a week out

713
00:32:03,720 --> 00:32:06,040
Speaker 1: at your favorite coffee shop and brewing it at home.

714
00:32:06,240 --> 00:32:08,440
Speaker 1: So there are definitely things like that, But then so

715
00:32:08,560 --> 00:32:11,080
Speaker 1: much of the time, you know, frugality is about the

716
00:32:11,080 --> 00:32:15,360
Speaker 1: bigger expenses, and it's potentially leasing a car or buying

717
00:32:15,360 --> 00:32:18,560
Speaker 1: a new car versus an older one, um not shopping

718
00:32:18,560 --> 00:32:21,640
Speaker 1: around for things that you are buying that are necessary,

719
00:32:21,720 --> 00:32:24,000
Speaker 1: and paying too much for the things that you you

720
00:32:24,040 --> 00:32:26,920
Speaker 1: know are buying that are necessary, and then also just

721
00:32:27,360 --> 00:32:31,240
Speaker 1: buying things needlessly that don't bring real value into your life.

722
00:32:31,360 --> 00:32:33,200
Speaker 1: And I think we get fixated sometimes on these just

723
00:32:33,280 --> 00:32:36,920
Speaker 1: these smaller purchases that really have very little to do

724
00:32:37,000 --> 00:32:39,120
Speaker 1: with our bottom line. Right. It's like we're kind of

725
00:32:39,160 --> 00:32:41,720
Speaker 1: like stressing and over like a few bucks here and there,

726
00:32:42,120 --> 00:32:45,440
Speaker 1: say on like your grocery budget or something like that,

727
00:32:45,520 --> 00:32:48,800
Speaker 1: when in reality, I think like some of these bigger purchases,

728
00:32:48,800 --> 00:32:50,600
Speaker 1: like some of the monthly expenses that that are just

729
00:32:50,640 --> 00:32:53,120
Speaker 1: sort of on automatic, like auto pay that happened to

730
00:32:53,120 --> 00:32:55,080
Speaker 1: you every month without you even realizing it, without you

731
00:32:55,120 --> 00:32:58,720
Speaker 1: even considering it, or even bigger expenses to like you said,

732
00:32:58,720 --> 00:33:01,160
Speaker 1: like like car payments and even like your house, like

733
00:33:01,160 --> 00:33:03,400
Speaker 1: your mortgage, those expenses if you look at it as

734
00:33:03,400 --> 00:33:05,840
Speaker 1: a percentage of your total expenses, has such a larger

735
00:33:05,880 --> 00:33:08,040
Speaker 1: impact on the amount of money that you have leaving

736
00:33:08,080 --> 00:33:10,760
Speaker 1: your bank accounts every month, whereas I think we spend

737
00:33:10,800 --> 00:33:13,320
Speaker 1: the majority of our time just fiddling with like that

738
00:33:13,360 --> 00:33:15,880
Speaker 1: tiny little bit, say with groceries, because that's something that

739
00:33:15,920 --> 00:33:17,920
Speaker 1: you like come in contact with, right like on a

740
00:33:17,960 --> 00:33:19,480
Speaker 1: day to day basis, or not day to day. But

741
00:33:19,520 --> 00:33:22,000
Speaker 1: when you're going to the grocery store, you think, oh, no,

742
00:33:22,880 --> 00:33:25,440
Speaker 1: eggs are more expensive this summer. What's going on, which

743
00:33:25,440 --> 00:33:26,840
Speaker 1: is true, by the way, I don't know what's going on,

744
00:33:28,520 --> 00:33:30,640
Speaker 1: but let's bring on a skilled economist to find out.

745
00:33:31,240 --> 00:33:32,800
Speaker 1: And so you know, you might think, well, I'm not

746
00:33:32,840 --> 00:33:35,240
Speaker 1: gonna get it eggs anymore because that's gonna that's gonna

747
00:33:35,320 --> 00:33:38,000
Speaker 1: mess up my my grocery budget, when in reality, that's

748
00:33:38,040 --> 00:33:40,360
Speaker 1: only making like five five dollar difference, you know, like

749
00:33:40,400 --> 00:33:43,240
Speaker 1: saying you're in your monthly grocery budget. When they then

750
00:33:43,320 --> 00:33:46,040
Speaker 1: just go home and they've got the cable bill sitting

751
00:33:46,040 --> 00:33:48,760
Speaker 1: there and they're paying you know, eighty bucks or something

752
00:33:48,800 --> 00:33:51,040
Speaker 1: like that, and they're not even considering how that's impacting

753
00:33:51,280 --> 00:33:53,520
Speaker 1: their their monthly bills. I think some of the smaller

754
00:33:53,560 --> 00:33:56,960
Speaker 1: things just get overblown sometimes when in reality it might

755
00:33:56,960 --> 00:33:59,200
Speaker 1: be worth looking at like the big picture and look

756
00:33:59,200 --> 00:34:01,520
Speaker 1: at the actual percentages of what you have, you know,

757
00:34:01,560 --> 00:34:04,680
Speaker 1: going out of your bank accounts and starting with the

758
00:34:04,680 --> 00:34:06,960
Speaker 1: biggest ones and working your way down and then seeing

759
00:34:07,280 --> 00:34:08,960
Speaker 1: if that would have a better impact. You know, I

760
00:34:08,960 --> 00:34:11,880
Speaker 1: think actually for me being frugal on some of the

761
00:34:11,920 --> 00:34:14,480
Speaker 1: bigger things, being super frugal, you know, renting out part

762
00:34:14,480 --> 00:34:17,680
Speaker 1: of our house, driving older cars that are are paid off.

763
00:34:18,000 --> 00:34:20,279
Speaker 1: Those sorts of choices over the long haul that we've

764
00:34:20,320 --> 00:34:23,160
Speaker 1: done for for so many years have created such breathing

765
00:34:23,239 --> 00:34:25,680
Speaker 1: room that you know, when we do want to splurge

766
00:34:25,760 --> 00:34:28,360
Speaker 1: just a little bit, especially like in the area of groceries,

767
00:34:28,440 --> 00:34:30,919
Speaker 1: you like, you know what, we're beer, get that, get

768
00:34:30,920 --> 00:34:33,279
Speaker 1: this fancy beer that we're drinking. That's right, they're good beer.

769
00:34:33,640 --> 00:34:36,160
Speaker 1: Or you know what, I'm gonna get some fancy steaks

770
00:34:36,200 --> 00:34:38,520
Speaker 1: for this weekend, something like that, you know, a nice

771
00:34:38,560 --> 00:34:40,719
Speaker 1: steak to to toss on the grill. You know, those

772
00:34:40,760 --> 00:34:44,960
Speaker 1: sorts of splurges are so meaningful. Yeah, when you you know,

773
00:34:44,960 --> 00:34:47,480
Speaker 1: when you live a life of frugality, and literally just

774
00:34:47,520 --> 00:34:49,440
Speaker 1: this past weekend, I was at the pool, and I

775
00:34:49,480 --> 00:34:51,200
Speaker 1: was talking to this random dude that I just met

776
00:34:51,440 --> 00:34:54,759
Speaker 1: completely unprovoked. You know, we weren't talking about frugality or

777
00:34:54,800 --> 00:34:56,600
Speaker 1: anything like that, but he you weren't showing off, You're

778
00:34:56,600 --> 00:35:00,360
Speaker 1: like porto port tattoo. But he mentioned how, you know,

779
00:35:00,400 --> 00:35:03,480
Speaker 1: in his condo complex, he had gone from the fourteenth

780
00:35:03,480 --> 00:35:05,360
Speaker 1: floor to the seventeen floor and the seventeen four with

781
00:35:05,440 --> 00:35:07,239
Speaker 1: the top floor. I was like, oh, man, how's the

782
00:35:07,280 --> 00:35:09,520
Speaker 1: view from there? Is it that much better? And he said,

783
00:35:09,600 --> 00:35:11,040
Speaker 1: you know what, dude, you just kind of get used

784
00:35:11,040 --> 00:35:13,640
Speaker 1: to it pretty quickly, and it's pretty meaningless, you know,

785
00:35:13,680 --> 00:35:15,920
Speaker 1: he said, he said, it's exactly one of the saddest

786
00:35:15,920 --> 00:35:18,319
Speaker 1: statements I think I've ever heard, I know, And then

787
00:35:18,360 --> 00:35:21,719
Speaker 1: he said, it's exactly like getting a new car, a

788
00:35:21,800 --> 00:35:24,040
Speaker 1: really nice new car. And he said it the way

789
00:35:24,040 --> 00:35:25,560
Speaker 1: he said it made it sound like that had happened

790
00:35:25,600 --> 00:35:27,960
Speaker 1: to him, that he had also made that misspeake. He's like,

791
00:35:28,320 --> 00:35:31,520
Speaker 1: it wears off super quick. And man, that like what

792
00:35:31,600 --> 00:35:35,319
Speaker 1: he said was just completely true. And I'm sure you know,

793
00:35:35,400 --> 00:35:38,319
Speaker 1: for three days that view from the seventeenth floor was

794
00:35:38,360 --> 00:35:40,160
Speaker 1: a little bit cooler than the view from the fourteenth

795
00:35:40,160 --> 00:35:42,719
Speaker 1: floor or just the same in the same way that

796
00:35:43,000 --> 00:35:45,600
Speaker 1: you know, having that new car. Man, it's really cool

797
00:35:45,640 --> 00:35:47,600
Speaker 1: for you know, a week, week and a half until

798
00:35:47,640 --> 00:35:49,719
Speaker 1: a bird poops on the windshield or you know, you

799
00:35:49,760 --> 00:35:52,239
Speaker 1: get that first bill in the mail or the first

800
00:35:52,320 --> 00:35:54,680
Speaker 1: thing in like the grocery store. Yeah, car bumps into

801
00:35:54,680 --> 00:35:56,839
Speaker 1: the doors exactly right. So there are all these things

802
00:35:56,920 --> 00:35:58,800
Speaker 1: that you know that seemed really cool in the moment

803
00:35:58,960 --> 00:36:01,399
Speaker 1: or for a couple of days, but ultimately they're they're

804
00:36:01,440 --> 00:36:04,000
Speaker 1: not really lasting and they're not fulfilling. But that sort

805
00:36:04,040 --> 00:36:05,879
Speaker 1: of margin that you're able to bring in your life

806
00:36:06,160 --> 00:36:07,880
Speaker 1: and the power that you're able to put back in

807
00:36:07,920 --> 00:36:10,520
Speaker 1: your life by you know, living a lifestyle that is

808
00:36:10,560 --> 00:36:14,400
Speaker 1: centered around frugality, it's super meaningful. And you know, the

809
00:36:14,440 --> 00:36:17,120
Speaker 1: other way of living where you you know, throw caution

810
00:36:17,160 --> 00:36:19,799
Speaker 1: to the wind and throw frugality out the window, that's

811
00:36:19,800 --> 00:36:21,960
Speaker 1: such a more tenuous way to live. And man, it

812
00:36:22,000 --> 00:36:24,480
Speaker 1: scares it scares me, And you know, I don't wish

813
00:36:24,560 --> 00:36:26,680
Speaker 1: that for for anybody, to to live a life where

814
00:36:26,680 --> 00:36:29,719
Speaker 1: frugality is not important. And something else that frugality does

815
00:36:29,760 --> 00:36:31,879
Speaker 1: for you is that it builds resilience. Joe, you want

816
00:36:31,880 --> 00:36:34,120
Speaker 1: to talk some more about this one Yeah, frug gality

817
00:36:34,120 --> 00:36:36,840
Speaker 1: can really kind of provide you a buffer from financial

818
00:36:36,880 --> 00:36:39,520
Speaker 1: harm and just like lifting weights. You know, we've talked

819
00:36:39,560 --> 00:36:41,600
Speaker 1: about this metaphor a couple of times on the podcast

820
00:36:41,640 --> 00:36:44,440
Speaker 1: so far. We're all we're all about building that muscle, right,

821
00:36:44,680 --> 00:36:46,839
Speaker 1: is that you're gonna say, yeah, and and but we

822
00:36:46,840 --> 00:36:49,279
Speaker 1: we are all about building a muscle right of resiliency,

823
00:36:49,600 --> 00:36:53,040
Speaker 1: and frugality is kind of this ultimate resilience against whatever

824
00:36:53,040 --> 00:36:55,879
Speaker 1: storm can come. And you might love your job, but

825
00:36:56,400 --> 00:36:58,080
Speaker 1: you might get a new boss and then your job

826
00:36:58,520 --> 00:37:01,360
Speaker 1: isn't as cool, or your company's downsizing. There are a

827
00:37:01,400 --> 00:37:04,479
Speaker 1: lot of things that you can't prevent, but frugality gives

828
00:37:04,520 --> 00:37:07,719
Speaker 1: you that ability to you know, be lean and be

829
00:37:07,760 --> 00:37:10,360
Speaker 1: able to you know, shift on a dime. And I

830
00:37:10,360 --> 00:37:12,440
Speaker 1: think too on top of that, you know, besides just

831
00:37:12,440 --> 00:37:15,319
Speaker 1: being prepared to weather a storm, there's something about, you know,

832
00:37:15,360 --> 00:37:18,480
Speaker 1: living a frugal lifestyle that teaches you, over time to

833
00:37:18,560 --> 00:37:21,239
Speaker 1: kind of respect the things that you have and to

834
00:37:21,440 --> 00:37:23,640
Speaker 1: go without some of the things that you don't need.

835
00:37:23,880 --> 00:37:26,640
Speaker 1: And I think especially right right now in this day

836
00:37:26,680 --> 00:37:30,040
Speaker 1: and time in the United States of America, where everyone

837
00:37:30,080 --> 00:37:32,080
Speaker 1: gets whatever they want whenever they want it, that that

838
00:37:32,080 --> 00:37:34,040
Speaker 1: that that's the kind of mentality that we have as

839
00:37:34,040 --> 00:37:37,480
Speaker 1: a culture, like immediacy, I want it now, drone it

840
00:37:37,520 --> 00:37:41,640
Speaker 1: to me, bro like completely exactly and building that, you know,

841
00:37:41,719 --> 00:37:45,120
Speaker 1: frugal resistance. It is like this powerful muscle that you

842
00:37:45,200 --> 00:37:48,239
Speaker 1: can uh that you can work that that it kind

843
00:37:48,280 --> 00:37:52,200
Speaker 1: of again is countercultural and you can you can develop

844
00:37:52,239 --> 00:37:55,279
Speaker 1: this for yourself. It provides not just a strength in

845
00:37:55,320 --> 00:37:58,279
Speaker 1: your bank account, but like the strength of character over time,

846
00:37:58,360 --> 00:38:01,840
Speaker 1: like mental strength. You're like resisting force of the advertising

847
00:38:01,840 --> 00:38:04,600
Speaker 1: and marketing giants. It's a constant struggle, you know, we're

848
00:38:04,640 --> 00:38:07,600
Speaker 1: we're constantly swimming up stream. It's something like a salmon.

849
00:38:08,960 --> 00:38:11,959
Speaker 1: We're having to to fight against this, and it takes

850
00:38:12,000 --> 00:38:15,320
Speaker 1: mental strength to resist that, right, It takes mental strength

851
00:38:15,320 --> 00:38:17,719
Speaker 1: to tell yourself to tell yourself no, not not just

852
00:38:17,800 --> 00:38:20,080
Speaker 1: like the marketing, but to tell yourself that no, I

853
00:38:20,080 --> 00:38:23,480
Speaker 1: don't need this new fingled comfort device, you know, like

854
00:38:23,520 --> 00:38:25,399
Speaker 1: this new thing that's gonna make my life easier, that's

855
00:38:25,400 --> 00:38:29,080
Speaker 1: gonna make me happier. Just whatever reason, whatever excuse that

856
00:38:29,080 --> 00:38:31,239
Speaker 1: that you either give yourself or that you're fed, that

857
00:38:31,280 --> 00:38:33,960
Speaker 1: you're marketed to and sold. You're resisting that as well.

858
00:38:34,000 --> 00:38:36,600
Speaker 1: You know, yeah, and I think ultimately too, there's something

859
00:38:36,719 --> 00:38:41,479
Speaker 1: really visceral right about how frugality impacts you. I can

860
00:38:41,560 --> 00:38:44,280
Speaker 1: see it in myself right when I do challenge myself

861
00:38:44,360 --> 00:38:47,560
Speaker 1: to do something, the kind of reward, the intrinsic reward

862
00:38:47,640 --> 00:38:49,799
Speaker 1: that comes when when that happens, you know, when I

863
00:38:49,880 --> 00:38:52,360
Speaker 1: challenge myself to start biking to work and I actually

864
00:38:52,400 --> 00:38:54,400
Speaker 1: follow through and do it, and then I know that

865
00:38:54,440 --> 00:38:56,600
Speaker 1: the days, you know, when I failed to, I kind

866
00:38:56,600 --> 00:38:58,840
Speaker 1: of feel like a crummy human being. I let yourself

867
00:38:58,920 --> 00:39:02,120
Speaker 1: down a little bit, exactly. And you know, nobody else knows.

868
00:39:02,160 --> 00:39:04,439
Speaker 1: You know, it doesn't it doesn't matter to anyone else.

869
00:39:04,520 --> 00:39:08,000
Speaker 1: And I distinctly remember reading this Mr money Mustache post along,

870
00:39:08,120 --> 00:39:09,880
Speaker 1: you know, like four years ago, and by the way,

871
00:39:10,160 --> 00:39:12,600
Speaker 1: amazing that the first time Mr money Mustache. I don't

872
00:39:12,600 --> 00:39:14,160
Speaker 1: think we've talked about it before. We'll link to this

873
00:39:14,280 --> 00:39:16,399
Speaker 1: to this post in the show notes. But he got

874
00:39:16,400 --> 00:39:19,839
Speaker 1: a letter from a wealthy New Yorker who made over

875
00:39:19,880 --> 00:39:22,520
Speaker 1: a million dollars a year and kind of talked about

876
00:39:22,520 --> 00:39:24,840
Speaker 1: how he had given in to you know, thirty or

877
00:39:24,840 --> 00:39:27,960
Speaker 1: forty dollar taxi trips and buying you know, the finest

878
00:39:28,040 --> 00:39:29,799
Speaker 1: organic meats and just kind of how he like let

879
00:39:29,840 --> 00:39:32,319
Speaker 1: his spending slip, and he talked about how it didn't

880
00:39:32,320 --> 00:39:34,200
Speaker 1: matter to him because it didn't make any dent, right,

881
00:39:34,239 --> 00:39:37,200
Speaker 1: Like he he made so much money that he didn't care,

882
00:39:37,239 --> 00:39:40,279
Speaker 1: it didn't matter, but how like, ultimately it wasn't very

883
00:39:40,320 --> 00:39:43,279
Speaker 1: fulfilling that he was missing out on this. And he

884
00:39:43,320 --> 00:39:46,040
Speaker 1: saw Mr money Mustache and and his readers having this

885
00:39:46,120 --> 00:39:49,200
Speaker 1: kind of sense of purpose and this fulfillment in their lives,

886
00:39:49,440 --> 00:39:52,040
Speaker 1: you know, living a life of frugality and intentionality, and

887
00:39:52,080 --> 00:39:53,880
Speaker 1: how he was just kind of, for lack of a

888
00:39:53,880 --> 00:39:56,720
Speaker 1: better term, pissing his money away and and doing things

889
00:39:56,719 --> 00:39:59,600
Speaker 1: that you know, weren't fulfilling. And and it was just

890
00:39:59,680 --> 00:40:02,359
Speaker 1: kind of interesting to see that perspective because I know

891
00:40:02,440 --> 00:40:04,040
Speaker 1: that's true because I see it in my own life

892
00:40:04,200 --> 00:40:05,840
Speaker 1: when I, you know, failed to rise to meet a

893
00:40:05,920 --> 00:40:07,840
Speaker 1: challenge or failed to take on a challenge that I

894
00:40:07,880 --> 00:40:09,279
Speaker 1: know is a good one for me to take on.

895
00:40:09,680 --> 00:40:11,560
Speaker 1: Um And I think, you know, fru gality kind of

896
00:40:11,600 --> 00:40:15,360
Speaker 1: provides you a lot of challenges right in in daily life,

897
00:40:15,440 --> 00:40:18,080
Speaker 1: you know, and and in your monthly budget. It provides

898
00:40:18,080 --> 00:40:20,120
Speaker 1: that challenge for this chance for you to rise to

899
00:40:20,160 --> 00:40:23,520
Speaker 1: the occasion and meet something that's like it's necessary for

900
00:40:23,560 --> 00:40:25,640
Speaker 1: you for your financial health, but it's so good for

901
00:40:25,719 --> 00:40:27,719
Speaker 1: you as a human, you know, to build that sort

902
00:40:27,719 --> 00:40:30,359
Speaker 1: of resiliency and and to meet it head on. Yeah,

903
00:40:30,480 --> 00:40:32,440
Speaker 1: to kind of like take control of your life, you know,

904
00:40:32,480 --> 00:40:34,840
Speaker 1: like kind of going back to like the muscle metaphor.

905
00:40:35,160 --> 00:40:36,640
Speaker 1: It's like you can see the New Yorker guy kind

906
00:40:36,640 --> 00:40:38,960
Speaker 1: of just getting soft. You know, he's just likely getting flabby,

907
00:40:39,000 --> 00:40:41,200
Speaker 1: and he's just like not really working, and he's just like,

908
00:40:41,239 --> 00:40:43,160
Speaker 1: all right, I'm just gonna spend money here. I want

909
00:40:43,160 --> 00:40:45,600
Speaker 1: to spend money here. It doesn't matter the cost. I

910
00:40:45,680 --> 00:40:48,200
Speaker 1: make a ton of money. But then yeah, he starts

911
00:40:48,239 --> 00:40:51,440
Speaker 1: seeing other folks being tough, working the muscle, not getting

912
00:40:51,440 --> 00:40:54,280
Speaker 1: brainwashed to spend all of his money and wasted away.

913
00:40:54,320 --> 00:40:55,880
Speaker 1: And yeah, you kind of wake up to it and

914
00:40:55,920 --> 00:41:00,640
Speaker 1: realized how inefficient and unthrifty that he's like the complete

915
00:41:00,640 --> 00:41:03,520
Speaker 1: opposite of frugality obviously. Well, and and we see that

916
00:41:03,560 --> 00:41:05,920
Speaker 1: in our culture, right, like the video game culture. And

917
00:41:06,000 --> 00:41:08,080
Speaker 1: you know, there's nothing wrong with playing video games on occasion,

918
00:41:08,160 --> 00:41:10,680
Speaker 1: I guess I don't play video games, but there that

919
00:41:10,760 --> 00:41:13,240
Speaker 1: culture of you know, hours and hours of video games

920
00:41:13,600 --> 00:41:15,799
Speaker 1: and you know, hours and hours of Netflix and chill

921
00:41:16,120 --> 00:41:19,000
Speaker 1: those sorts of things of not challenging yourself by you know,

922
00:41:19,000 --> 00:41:21,680
Speaker 1: reading a book or listening to a podcast or you know,

923
00:41:21,719 --> 00:41:24,680
Speaker 1: figuring out a way to fix something that's broken and

924
00:41:24,719 --> 00:41:27,120
Speaker 1: instead you know just calling the professional, you know, whatever

925
00:41:27,160 --> 00:41:28,960
Speaker 1: it is that there's all these ways that we just

926
00:41:29,040 --> 00:41:31,239
Speaker 1: kind of give in um as opposed to you know,

927
00:41:31,320 --> 00:41:33,600
Speaker 1: standing up and and meeting it a challenge head on

928
00:41:33,960 --> 00:41:37,319
Speaker 1: and kind of embracing frugality. You know, at the same time,

929
00:41:37,560 --> 00:41:39,480
Speaker 1: I think we're talking about you know, this kind of

930
00:41:39,520 --> 00:41:42,480
Speaker 1: more widespread societal epidemic at the same time as we're

931
00:41:42,520 --> 00:41:45,680
Speaker 1: talking about individual frugality and all kind of goes together. Man, Like,

932
00:41:45,719 --> 00:41:47,799
Speaker 1: it's all related. That's the thing. That's what's what's so

933
00:41:47,840 --> 00:41:50,319
Speaker 1: weird about frugality is like, yeah, we're talking about money,

934
00:41:50,360 --> 00:41:51,839
Speaker 1: but you can kind of see the way that like

935
00:41:51,920 --> 00:41:54,600
Speaker 1: bleeds into other aspects of our life, not just financial,

936
00:41:54,680 --> 00:41:58,280
Speaker 1: but like cultural and social and just like all the aspects.

937
00:41:58,320 --> 00:42:01,359
Speaker 1: You know, Yeah, no doubt awesome. So we just talked

938
00:42:01,400 --> 00:42:03,879
Speaker 1: about some of the things that frugality you know, does

939
00:42:03,960 --> 00:42:06,000
Speaker 1: for you and some of the things that frugality is,

940
00:42:06,520 --> 00:42:09,719
Speaker 1: but something that it isn't is that frugality isn't restricting,

941
00:42:09,840 --> 00:42:12,920
Speaker 1: you know, I think again, frugality kind of gets a

942
00:42:12,920 --> 00:42:17,319
Speaker 1: bad rap when it gets brought up. But frugality isn't

943
00:42:17,440 --> 00:42:20,719
Speaker 1: keeping you from spending money on something that you love

944
00:42:20,800 --> 00:42:24,800
Speaker 1: to do. Instead, it's consciously deciding to not spend money

945
00:42:24,840 --> 00:42:26,960
Speaker 1: on the things that you don't love. Right, there's a

946
00:42:27,000 --> 00:42:29,200
Speaker 1: difference there, and then that gives you the options to

947
00:42:29,239 --> 00:42:31,840
Speaker 1: spend money on the things that you do love. Again,

948
00:42:31,880 --> 00:42:34,600
Speaker 1: whether that's now, if it's a goal, is something that

949
00:42:34,640 --> 00:42:36,319
Speaker 1: you want to do now that you that you're aware of,

950
00:42:37,280 --> 00:42:38,920
Speaker 1: or if it's something in the future that you really

951
00:42:38,960 --> 00:42:41,400
Speaker 1: just have no clue. It's not the sort of restricting

952
00:42:41,440 --> 00:42:44,480
Speaker 1: thing where you know, you're constantly telling yourself no, it's

953
00:42:44,520 --> 00:42:48,160
Speaker 1: just sort of reorganizing and re prioritizing or spending. Is

954
00:42:48,200 --> 00:42:49,560
Speaker 1: this thing that I spend my money on, you know,

955
00:42:49,640 --> 00:42:51,120
Speaker 1: going back to the New york Er, like do I

956
00:42:51,160 --> 00:42:53,239
Speaker 1: really care about like the the taxi ride or maybe

957
00:42:53,280 --> 00:42:54,879
Speaker 1: I can just hop on the subway like the rest

958
00:42:54,880 --> 00:42:57,000
Speaker 1: of Manhattan? What is it that I'm spending money on?

959
00:42:57,040 --> 00:42:59,640
Speaker 1: And does that again, does that align with my goals?

960
00:42:59,719 --> 00:43:02,000
Speaker 1: Is that align with the options that that I want

961
00:43:02,000 --> 00:43:04,120
Speaker 1: to pursue, And I think to kind of put it

962
00:43:04,120 --> 00:43:05,600
Speaker 1: in that framework, and to put it in that light

963
00:43:05,800 --> 00:43:08,719
Speaker 1: is incredibly helpful to see frugality as something to be

964
00:43:08,760 --> 00:43:11,160
Speaker 1: sought after, not this thing that you're just trying to avoid.

965
00:43:11,920 --> 00:43:14,359
Speaker 1: So what's next for people? You know, Matt, that are

966
00:43:14,760 --> 00:43:16,520
Speaker 1: they understand you know what? Okay, maybe I do need

967
00:43:16,560 --> 00:43:19,120
Speaker 1: to flexus must Well maybe you know frugality isn't as

968
00:43:19,160 --> 00:43:21,279
Speaker 1: core but a tenant as I wanted to be. You know,

969
00:43:21,280 --> 00:43:24,160
Speaker 1: how do people move forward in adopt like a more

970
00:43:24,200 --> 00:43:26,920
Speaker 1: frugal lifestyle, a more frugal mindset in their own lives. Man,

971
00:43:26,920 --> 00:43:29,000
Speaker 1: When I think it's so awesome about frugality is that

972
00:43:29,040 --> 00:43:31,680
Speaker 1: it's something you can do right away. It's something that

973
00:43:31,719 --> 00:43:34,520
Speaker 1: almost overnight you can change your life and start making

974
00:43:34,520 --> 00:43:37,600
Speaker 1: decisions to not spend money. We touched on this a

975
00:43:37,640 --> 00:43:39,920
Speaker 1: second ago. But how your income. You don't have a

976
00:43:39,920 --> 00:43:42,920
Speaker 1: whole lot of control over your income. Right you're employed,

977
00:43:42,960 --> 00:43:45,319
Speaker 1: you've got a job, Maybe you'll get laid off, or

978
00:43:45,360 --> 00:43:47,920
Speaker 1: maybe the company will get sold and your position will

979
00:43:47,920 --> 00:43:50,480
Speaker 1: get absorbed or something. I don't know. There's only so

980
00:43:50,560 --> 00:43:53,640
Speaker 1: much control that we have over the money that we make. However,

981
00:43:54,040 --> 00:43:57,240
Speaker 1: we almost have full control over the money that we spend,

982
00:43:57,640 --> 00:44:00,320
Speaker 1: and so on that note, you can decide to sorrow

983
00:44:00,400 --> 00:44:02,080
Speaker 1: that you're not going to spend the money that you

984
00:44:02,160 --> 00:44:05,520
Speaker 1: spent the day before, right that you spent yesterday, even

985
00:44:05,560 --> 00:44:07,640
Speaker 1: if it's not something that you have been doing, is

986
00:44:07,680 --> 00:44:10,120
Speaker 1: something that you can right now take steps and start

987
00:44:10,200 --> 00:44:12,799
Speaker 1: living a frugal lifestyle. And now let's talk about how

988
00:44:12,840 --> 00:44:14,800
Speaker 1: you can switch to a frugal lifestyle. But first a

989
00:44:14,880 --> 00:44:26,319
Speaker 1: quick break. Knowing exactly where to start might be kind

990
00:44:26,320 --> 00:44:29,200
Speaker 1: of tough, and for that, I think the best thing

991
00:44:29,200 --> 00:44:31,959
Speaker 1: that to do is to dream. We kind of talked

992
00:44:31,960 --> 00:44:35,160
Speaker 1: about this in the Why Behind Money episode, But to

993
00:44:35,280 --> 00:44:38,200
Speaker 1: think about what are your goals? You know we we

994
00:44:38,239 --> 00:44:41,480
Speaker 1: said that frugality gives you options, like what are those

995
00:44:41,520 --> 00:44:44,040
Speaker 1: options that you want to have? What are those goals,

996
00:44:44,280 --> 00:44:47,919
Speaker 1: and then work towards those That's the first step. Look

997
00:44:47,960 --> 00:44:49,840
Speaker 1: at what it is that you want to do, and

998
00:44:49,920 --> 00:44:53,080
Speaker 1: then you can start making changes and start taking the

999
00:44:53,120 --> 00:44:56,360
Speaker 1: steps necessary to achieve those goals. I think that's totally

1000
00:44:56,400 --> 00:44:58,279
Speaker 1: the first step. Then the next step is to kind

1001
00:44:58,280 --> 00:45:00,520
Speaker 1: of figure out, you know how and or you can

1002
00:45:00,520 --> 00:45:03,239
Speaker 1: cut back and there are a lot of great resources

1003
00:45:03,280 --> 00:45:04,759
Speaker 1: out there for you. There are a lot of great

1004
00:45:04,760 --> 00:45:07,319
Speaker 1: blogs and podcasts and you know people that that that

1005
00:45:07,360 --> 00:45:09,520
Speaker 1: spent a lot of time writing and thinking about these things.

1006
00:45:09,840 --> 00:45:12,880
Speaker 1: And uh, you go back and listen to episode number thirteen,

1007
00:45:12,960 --> 00:45:15,480
Speaker 1: Ways to cut your monthly bills. That's a great one

1008
00:45:15,560 --> 00:45:19,080
Speaker 1: for you to think about. Just small incremental changes, you know,

1009
00:45:19,480 --> 00:45:22,200
Speaker 1: raising the temperature of your thermostat during the summer, you know,

1010
00:45:22,239 --> 00:45:25,920
Speaker 1: being a little uncomfortable during the day. Maybe consider taking

1011
00:45:25,920 --> 00:45:27,920
Speaker 1: your lunch to work like I mentioned earlier, you know,

1012
00:45:27,960 --> 00:45:30,360
Speaker 1: eat at home at night, go out to eat less.

1013
00:45:30,480 --> 00:45:32,440
Speaker 1: The numbers on how much more it costs to go

1014
00:45:32,440 --> 00:45:34,719
Speaker 1: out to eat versus you know, what it costs to

1015
00:45:34,760 --> 00:45:38,000
Speaker 1: cook a dinner at your home. Their astounding um. Shop

1016
00:45:38,000 --> 00:45:40,760
Speaker 1: at thrift stores, you know, cut those regular monthly bills,

1017
00:45:41,040 --> 00:45:42,960
Speaker 1: you know, cutting your own hair even maybe you know,

1018
00:45:43,040 --> 00:45:46,319
Speaker 1: Matt cut my hair recently. It doesn't look too bad, Hey,

1019
00:45:46,560 --> 00:45:49,560
Speaker 1: pretty good. So there's like a million ways that you

1020
00:45:49,560 --> 00:45:52,600
Speaker 1: can save right And I personally I thrive on these

1021
00:45:52,640 --> 00:45:54,640
Speaker 1: kind of tips and tricks. I I love them. I'm

1022
00:45:54,680 --> 00:45:56,879
Speaker 1: all about them. You know, in future episodes will give

1023
00:45:56,880 --> 00:45:59,640
Speaker 1: you even more. There's an article right now on poorn

1024
00:45:59,680 --> 00:46:02,520
Speaker 1: up poor dot com about how to save on your

1025
00:46:02,520 --> 00:46:05,200
Speaker 1: insurance costs, and I give you a lot of tips

1026
00:46:05,200 --> 00:46:07,479
Speaker 1: and tricks to figure out how you can cut down

1027
00:46:07,560 --> 00:46:09,920
Speaker 1: your home and car insurance bills, you know, and that

1028
00:46:10,080 --> 00:46:11,640
Speaker 1: right there, that's a that's a bigger expense, you know,

1029
00:46:11,719 --> 00:46:14,640
Speaker 1: that could save you over a grand a year just

1030
00:46:14,680 --> 00:46:17,239
Speaker 1: by shopping your insurance around or or thinking about, you know,

1031
00:46:17,280 --> 00:46:20,520
Speaker 1: how you approach getting insurance. And so there there are

1032
00:46:20,520 --> 00:46:22,480
Speaker 1: a lot of things like that that once you have

1033
00:46:22,560 --> 00:46:24,759
Speaker 1: kind of identified some of those goals and kind of

1034
00:46:24,760 --> 00:46:27,440
Speaker 1: made that mindset shift to switch to a you know,

1035
00:46:27,520 --> 00:46:30,319
Speaker 1: frugal lifestyle, a more frugal lifestyle, you know, learning some

1036
00:46:30,360 --> 00:46:33,360
Speaker 1: of those some of those ways to cut down the

1037
00:46:33,400 --> 00:46:36,399
Speaker 1: costs and figure out how to save more of your

1038
00:46:36,400 --> 00:46:38,440
Speaker 1: hard earned money. You just know that there are a

1039
00:46:38,480 --> 00:46:40,560
Speaker 1: ton of great resources around the web that will help

1040
00:46:40,600 --> 00:46:42,520
Speaker 1: you kind of with those specifics. You don't have to

1041
00:46:42,520 --> 00:46:44,920
Speaker 1: be left to your own devices and just kind of

1042
00:46:44,920 --> 00:46:47,120
Speaker 1: with those vague goals with no idea how to actually

1043
00:46:47,160 --> 00:46:49,480
Speaker 1: achieve them. Man, another point I wanted to bring up

1044
00:46:49,520 --> 00:46:51,960
Speaker 1: to is that a lot of people think that they

1045
00:46:52,000 --> 00:46:55,080
Speaker 1: are being frugal when in reality they're not being frugal.

1046
00:46:55,440 --> 00:46:57,600
Speaker 1: And they think that well, you know, I don't do this,

1047
00:46:57,719 --> 00:46:59,480
Speaker 1: and I don't do this, but there's just so much

1048
00:46:59,520 --> 00:47:01,600
Speaker 1: in their life that they're not really paying attention to

1049
00:47:01,760 --> 00:47:04,839
Speaker 1: that is a huge expense. The question is, then, how

1050
00:47:04,840 --> 00:47:06,879
Speaker 1: do you even know if you're being frugal or not.

1051
00:47:07,080 --> 00:47:08,520
Speaker 1: What you need to do for that is to look

1052
00:47:08,560 --> 00:47:10,840
Speaker 1: at your savings rate. But essentially, your savings rate is

1053
00:47:10,880 --> 00:47:13,840
Speaker 1: the amount that you're saving, So your your savings over

1054
00:47:14,080 --> 00:47:18,000
Speaker 1: your income creates a percentage, and the average American today

1055
00:47:18,120 --> 00:47:20,759
Speaker 1: has a savings rate of less than five percent. So

1056
00:47:20,800 --> 00:47:22,319
Speaker 1: the question is do you want to be like an

1057
00:47:22,320 --> 00:47:25,680
Speaker 1: average American where you're working, you know, well into your

1058
00:47:25,680 --> 00:47:28,719
Speaker 1: sixties at a job that you can't leave because you

1059
00:47:28,719 --> 00:47:31,120
Speaker 1: don't have the option to because you make a lot

1060
00:47:31,120 --> 00:47:32,719
Speaker 1: of money there and you need to make a lot

1061
00:47:32,760 --> 00:47:35,120
Speaker 1: of money in order to keep paying your bills. So yeah, man,

1062
00:47:35,160 --> 00:47:37,480
Speaker 1: it's hard to know, you know, how frugal you're being,

1063
00:47:37,520 --> 00:47:39,680
Speaker 1: like on the scale of like frugality if you don't

1064
00:47:39,719 --> 00:47:42,000
Speaker 1: have something to kind of measure that again, So so yeah,

1065
00:47:42,040 --> 00:47:44,600
Speaker 1: we would encourage you to, yeah, try to actually calculate

1066
00:47:44,640 --> 00:47:46,640
Speaker 1: your savings rate. Take what your take home pay is,

1067
00:47:47,080 --> 00:47:49,239
Speaker 1: figure out how much you're setting aside every year your

1068
00:47:49,239 --> 00:47:52,560
Speaker 1: savings there, and that's your percentage. If you are sort

1069
00:47:52,600 --> 00:47:54,800
Speaker 1: of the average American and you're sitting aside five percent,

1070
00:47:54,880 --> 00:47:56,960
Speaker 1: consider trying to double that, try to get that up

1071
00:47:56,960 --> 00:47:59,279
Speaker 1: to ten percent. That would be huge if and if

1072
00:47:59,320 --> 00:48:02,600
Speaker 1: you are, say you're can, you're already setting aside, man,

1073
00:48:02,680 --> 00:48:04,880
Speaker 1: imagine if you could double that. And so if you're

1074
00:48:04,920 --> 00:48:08,080
Speaker 1: sitting aside thirty percent of your income every year, that

1075
00:48:08,120 --> 00:48:11,440
Speaker 1: would be insane. Some listeners out there might be like

1076
00:48:11,480 --> 00:48:13,960
Speaker 1: me where you're self employed, and I mean personally my

1077
00:48:14,080 --> 00:48:16,560
Speaker 1: savings rate because my income flexu rates. I mean some

1078
00:48:16,640 --> 00:48:19,799
Speaker 1: years my savings rates like two percent, but then there's

1079
00:48:19,800 --> 00:48:22,120
Speaker 1: some years, like we've had years where our savings rates close.

1080
00:48:23,400 --> 00:48:26,520
Speaker 1: And so it's tough because it's not something that people

1081
00:48:26,600 --> 00:48:28,279
Speaker 1: normally keep up with. But if you're trying to figure

1082
00:48:28,320 --> 00:48:30,839
Speaker 1: out where you are on this sort of scale of frugality,

1083
00:48:31,080 --> 00:48:32,800
Speaker 1: check check out your savings rate, because it's kind of

1084
00:48:32,800 --> 00:48:34,600
Speaker 1: hard to pin down. I will say, if you're like

1085
00:48:34,680 --> 00:48:37,440
Speaker 1: fresh on the frugal bandwagon and you're deciding to, you know,

1086
00:48:37,560 --> 00:48:40,800
Speaker 1: kind of take this path, sometimes the first couple of years,

1087
00:48:41,160 --> 00:48:43,000
Speaker 1: you don't feel like you're making all that much progress

1088
00:48:43,120 --> 00:48:45,319
Speaker 1: you're figuring out ways to save more, You're finding these

1089
00:48:45,320 --> 00:48:48,040
Speaker 1: tips to spend less, and you know your bank account

1090
00:48:48,120 --> 00:48:51,799
Speaker 1: is growing, your investible assets maybe are increasing a little bit,

1091
00:48:52,040 --> 00:48:55,839
Speaker 1: but the true results of frugality, you know, bear out

1092
00:48:55,840 --> 00:48:58,960
Speaker 1: over the long term. After a decade of being frugal,

1093
00:48:59,200 --> 00:49:01,239
Speaker 1: you'll look at your bank account, you will look at

1094
00:49:01,320 --> 00:49:04,520
Speaker 1: your four oh one k or roth Ira statement and

1095
00:49:04,880 --> 00:49:07,439
Speaker 1: kind of be amazed at how you got there through

1096
00:49:07,480 --> 00:49:11,080
Speaker 1: these small, simple steps and that mindset change, through creating

1097
00:49:11,080 --> 00:49:14,640
Speaker 1: some goals and then finding some ways to to achieve them,

1098
00:49:15,200 --> 00:49:18,680
Speaker 1: through increasing your savings, right, finding more ways to incorporate

1099
00:49:18,719 --> 00:49:21,839
Speaker 1: a lifestyle of frugality. And so not only will you see,

1100
00:49:21,840 --> 00:49:24,360
Speaker 1: you know, your bank account numbers increase and your investable

1101
00:49:24,400 --> 00:49:27,239
Speaker 1: assets you know, increase in number over that decade or

1102
00:49:27,280 --> 00:49:29,879
Speaker 1: two decades. I mean, it'll be amazing. You will also

1103
00:49:29,920 --> 00:49:32,120
Speaker 1: kind of see, you know, that resiliency level in your

1104
00:49:32,160 --> 00:49:35,360
Speaker 1: life just kick up a notch, two notches, four notches,

1105
00:49:35,600 --> 00:49:37,960
Speaker 1: you know, And that also has a kind of compounding

1106
00:49:38,000 --> 00:49:41,040
Speaker 1: interest like effect in your life. Right, The more you

1107
00:49:41,040 --> 00:49:44,160
Speaker 1: feel like you can stomach uh, the more hardship you

1108
00:49:44,239 --> 00:49:46,680
Speaker 1: can endure and get through it, the more things that

1109
00:49:46,760 --> 00:49:48,480
Speaker 1: you can cut out of your life and still be

1110
00:49:48,719 --> 00:49:51,359
Speaker 1: happy and actually find out that you're happier for having

1111
00:49:51,400 --> 00:49:53,440
Speaker 1: foregone some of those things. Well, dude, that's what I'm

1112
00:49:53,440 --> 00:49:54,759
Speaker 1: gonna say, is that, like I feel like some of

1113
00:49:54,760 --> 00:49:57,080
Speaker 1: those things that you feel that you're suffering. Maybe early

1114
00:49:57,160 --> 00:49:59,520
Speaker 1: on it is like working out, you get used to

1115
00:49:59,560 --> 00:50:01,880
Speaker 1: it and you're like, go, well, I'm not suffering anymore,

1116
00:50:01,960 --> 00:50:03,560
Speaker 1: Like what else can I then do? It's just like

1117
00:50:03,600 --> 00:50:06,479
Speaker 1: getting in shape. Like the first run or first few runs,

1118
00:50:06,520 --> 00:50:08,440
Speaker 1: you're gonna be sucking wind and it's gonna be terrible

1119
00:50:08,600 --> 00:50:11,200
Speaker 1: trying to run one mile. But then when you're running

1120
00:50:11,239 --> 00:50:14,200
Speaker 1: ten miles, the first five miles are nothing, you know,

1121
00:50:14,280 --> 00:50:17,080
Speaker 1: And so yeah, it's all sort of relative to kind

1122
00:50:17,120 --> 00:50:19,480
Speaker 1: of your fitness, but also to sort of where you

1123
00:50:19,520 --> 00:50:22,280
Speaker 1: are financially and sort of how fit you are frugally.

1124
00:50:22,719 --> 00:50:25,440
Speaker 1: So test your frugal fitness level. That's what we encourage

1125
00:50:25,440 --> 00:50:27,840
Speaker 1: you to do. And you know, hopefully this this episode

1126
00:50:27,840 --> 00:50:29,879
Speaker 1: has not only kind of given you some some big

1127
00:50:29,920 --> 00:50:32,640
Speaker 1: picture thoughts, but then also kind of some you know,

1128
00:50:32,719 --> 00:50:35,520
Speaker 1: finer tune little takeaways. Ultimately, you just have to know

1129
00:50:35,560 --> 00:50:37,879
Speaker 1: that you can do it. You can build that resiliency

1130
00:50:38,160 --> 00:50:41,080
Speaker 1: it just takes time and intentionality. But the whole reason

1131
00:50:41,120 --> 00:50:43,360
Speaker 1: behind it is that choosing to live a life of

1132
00:50:43,360 --> 00:50:47,200
Speaker 1: frugality gives you options, and man, those options are so

1133
00:50:47,239 --> 00:50:50,480
Speaker 1: sweet and so few people actually have them. Yeah, So,

1134
00:50:50,520 --> 00:50:53,080
Speaker 1: on that note, we would love to hear from our listeners.

1135
00:50:53,120 --> 00:50:55,879
Speaker 1: We'd love to hear from you guys, specifically about being

1136
00:50:55,920 --> 00:50:58,560
Speaker 1: frugal and the steps you've taken to to live on

1137
00:50:58,680 --> 00:51:01,880
Speaker 1: less and spending less. And what has being frugal allows

1138
00:51:01,960 --> 00:51:05,360
Speaker 1: you to do now you know currently, or what is

1139
00:51:05,400 --> 00:51:07,880
Speaker 1: being frugal now allowing you to hopefully do in the future,

1140
00:51:07,920 --> 00:51:09,319
Speaker 1: you know, like, what are your dreams, Like, what are

1141
00:51:09,360 --> 00:51:12,720
Speaker 1: your goals that you are sort of working towards? Whatever

1142
00:51:12,760 --> 00:51:15,400
Speaker 1: those things are. From that you have said, we would

1143
00:51:15,400 --> 00:51:18,040
Speaker 1: love to hear from you guys and leave a comments

1144
00:51:18,400 --> 00:51:20,759
Speaker 1: on this episode, post on our website Poor Not Poor

1145
00:51:20,840 --> 00:51:22,759
Speaker 1: dot com, or even head over to our Poor Not

1146
00:51:22,840 --> 00:51:25,400
Speaker 1: Poor Facebook group. Hopefully we'll get a sort of a

1147
00:51:25,440 --> 00:51:27,400
Speaker 1: thread going there where folks are sharing what it is

1148
00:51:27,440 --> 00:51:30,319
Speaker 1: that they're doing and ultimately encourage each other to be

1149
00:51:30,440 --> 00:51:32,840
Speaker 1: more frugal. Right, yeah, and like, like I said, the

1150
00:51:33,280 --> 00:51:35,680
Speaker 1: those goals, they're amazing, But then you you've got to

1151
00:51:35,719 --> 00:51:37,360
Speaker 1: know some of those tips and tricks and and a

1152
00:51:37,400 --> 00:51:39,920
Speaker 1: man of face. Our Facebook group and and Facebook groups

1153
00:51:39,960 --> 00:51:41,880
Speaker 1: like that are kind of the perfect place to be

1154
00:51:42,360 --> 00:51:45,720
Speaker 1: to learn how other people are doing things. And probably

1155
00:51:45,719 --> 00:51:48,600
Speaker 1: the greatest thing about the Internet is the easy access

1156
00:51:48,600 --> 00:51:51,319
Speaker 1: to knowledge that we didn't have access to beforehand. That's

1157
00:51:51,360 --> 00:51:53,400
Speaker 1: my favorite thing about the Internet. I can, you know,

1158
00:51:53,440 --> 00:51:56,239
Speaker 1: listen to two hour lectures or two hour discussions or

1159
00:51:56,520 --> 00:51:59,200
Speaker 1: join Facebook group with people that have different or more

1160
00:51:59,200 --> 00:52:01,799
Speaker 1: specialized now that I have, and I can learn from

1161
00:52:01,800 --> 00:52:03,560
Speaker 1: those people. And so, you know, that's what our Facebook

1162
00:52:03,560 --> 00:52:05,239
Speaker 1: group is all about. Hopefully it's a you know, a

1163
00:52:05,239 --> 00:52:07,000
Speaker 1: fun place for people to talk about, you know, what

1164
00:52:07,080 --> 00:52:08,920
Speaker 1: beers they're drinking, but then on top of that to

1165
00:52:09,000 --> 00:52:11,319
Speaker 1: kind of share their frugal winds and the ways that

1166
00:52:11,400 --> 00:52:13,759
Speaker 1: you know, they are changing not only their mindset but

1167
00:52:13,840 --> 00:52:16,200
Speaker 1: their habits. And hopefully as we get you know, more

1168
00:52:16,680 --> 00:52:19,720
Speaker 1: post about how people are approaching frugality and making changes.

1169
00:52:20,000 --> 00:52:22,359
Speaker 1: It's it's an inspiration to all of us. All right, man,

1170
00:52:22,400 --> 00:52:24,520
Speaker 1: what do you think about this? Uh? This beer dre

1171
00:52:24,800 --> 00:52:29,400
Speaker 1: Fontane in the Oud Creek. Man, it's delicious. I love

1172
00:52:29,520 --> 00:52:32,160
Speaker 1: a good cherry beer, and you know this is man,

1173
00:52:32,400 --> 00:52:35,920
Speaker 1: pretty much the finest cherry beer money can buy. It is.

1174
00:52:36,080 --> 00:52:37,640
Speaker 1: It's really good. Man. I'm so glad you're able to

1175
00:52:37,640 --> 00:52:39,680
Speaker 1: bring this back. You brought this back with a suitcase

1176
00:52:39,719 --> 00:52:42,799
Speaker 1: full of other beers during your trip to Paris, and

1177
00:52:42,840 --> 00:52:45,240
Speaker 1: so yeah, I'm glad I get to enjoy the fruits

1178
00:52:45,239 --> 00:52:47,080
Speaker 1: of your labor a little bit here. The best thing

1179
00:52:47,120 --> 00:52:49,880
Speaker 1: about that too, man, I love cracking a beer, and

1180
00:52:49,880 --> 00:52:52,280
Speaker 1: a beer like this, you know, stays good for years,

1181
00:52:52,400 --> 00:52:55,040
Speaker 1: for decades. Actually, this beer, it doesn't expire, it says

1182
00:52:55,120 --> 00:52:58,200
Speaker 1: until so you have plenty of We would have had

1183
00:52:58,200 --> 00:53:00,399
Speaker 1: plenty of time to drink that, but I just under

1184
00:53:00,400 --> 00:53:03,520
Speaker 1: the wire, you know, right. But I love drinking a beer,

1185
00:53:03,920 --> 00:53:06,880
Speaker 1: you know, months or years down the road from a

1186
00:53:06,920 --> 00:53:09,000
Speaker 1: trip I've taken. It just kind of, you know, brings

1187
00:53:09,040 --> 00:53:11,359
Speaker 1: me back to that place where when I met Chris

1188
00:53:11,440 --> 00:53:13,640
Speaker 1: and I got the beer, and visiting that beer store

1189
00:53:13,920 --> 00:53:17,040
Speaker 1: and then just visiting Paris, just the whole trip kind

1190
00:53:17,040 --> 00:53:19,239
Speaker 1: of you know, floods back into my mind. That's one

1191
00:53:19,239 --> 00:53:21,480
Speaker 1: of my favorite thing about souvenir beers. It's the best,

1192
00:53:22,200 --> 00:53:24,640
Speaker 1: all right, Matt, Let's wrap things up. Frugality gives you

1193
00:53:24,719 --> 00:53:27,040
Speaker 1: options and you know, the key thing for me is

1194
00:53:27,040 --> 00:53:29,040
Speaker 1: that things change. Man. You don't know whether that job

1195
00:53:29,080 --> 00:53:31,960
Speaker 1: you love is going to be here tomorrow, and circumstances

1196
00:53:32,280 --> 00:53:34,600
Speaker 1: in your life can change on a dime, and so

1197
00:53:34,680 --> 00:53:37,480
Speaker 1: adopting a frugal mindset gives you kind of options to

1198
00:53:37,520 --> 00:53:40,480
Speaker 1: combat those potential changes that might be on the horizon

1199
00:53:40,760 --> 00:53:43,560
Speaker 1: they haven't even crossed your mind yet. Also, don't be

1200
00:53:43,719 --> 00:53:46,920
Speaker 1: sented to just earn more money. Obviously we're spending this

1201
00:53:47,080 --> 00:53:49,680
Speaker 1: entire episode talking about frugality, and so the focus has

1202
00:53:49,719 --> 00:53:52,760
Speaker 1: been on spending less. I think one of the biggest

1203
00:53:53,000 --> 00:53:55,839
Speaker 1: obstacles to frugality is people thinking, oh, I can just

1204
00:53:55,960 --> 00:53:58,800
Speaker 1: earn more money. That is just not a great way

1205
00:53:58,840 --> 00:54:01,520
Speaker 1: to think about saving money. As soon as you quit working,

1206
00:54:01,960 --> 00:54:05,320
Speaker 1: your income will also stop. Frugality is much more powerful

1207
00:54:05,360 --> 00:54:10,160
Speaker 1: than a high income because frugality compounds upon itself and Matt,

1208
00:54:10,200 --> 00:54:13,120
Speaker 1: the thing about that mindset too, is that if you

1209
00:54:13,160 --> 00:54:17,000
Speaker 1: focus on earnings, oftentimes you're spending goes up in tangent

1210
00:54:17,200 --> 00:54:20,920
Speaker 1: with that increased income, which actually doesn't increase savings or

1211
00:54:20,920 --> 00:54:23,920
Speaker 1: a frugality mindset at all. And on top of that,

1212
00:54:24,280 --> 00:54:28,319
Speaker 1: frugality builds resilience. It's like working a muscle. The more

1213
00:54:28,360 --> 00:54:31,279
Speaker 1: you practice frugality, the better you'll get at it, and

1214
00:54:31,360 --> 00:54:35,319
Speaker 1: ultimately the bigger buffer you'll have from potential financial harm.

1215
00:54:35,440 --> 00:54:37,440
Speaker 1: And then the good news, man, is that even if

1216
00:54:37,480 --> 00:54:39,640
Speaker 1: you are not living a frugal lifestyle right now, you

1217
00:54:39,680 --> 00:54:42,719
Speaker 1: could switch right away, like tomorrow, you could start living

1218
00:54:42,719 --> 00:54:44,640
Speaker 1: a frugal lifestyle. You could sell stuff, you can just

1219
00:54:44,640 --> 00:54:48,400
Speaker 1: stop making the expenses that you currently are. First, though,

1220
00:54:48,560 --> 00:54:51,279
Speaker 1: you've got to identify those goals, figure it out what

1221
00:54:51,320 --> 00:54:53,799
Speaker 1: it is that drives you. And once you have those

1222
00:54:53,800 --> 00:54:56,880
Speaker 1: goals set, then look and see does you're spending a

1223
00:54:56,920 --> 00:54:58,640
Speaker 1: line with that? Are you putting your money and are

1224
00:54:58,640 --> 00:55:01,560
Speaker 1: you spending in a way that will get you to

1225
00:55:01,600 --> 00:55:04,680
Speaker 1: that goal? And if not, make those changes. Yeah, and

1226
00:55:04,719 --> 00:55:07,240
Speaker 1: there are a lot of resources out there to help

1227
00:55:07,280 --> 00:55:10,560
Speaker 1: you make those changes, just like on our how to

1228
00:55:10,640 --> 00:55:14,040
Speaker 1: Money Facebook group, So tap that collective wisdom for kind

1229
00:55:14,040 --> 00:55:16,520
Speaker 1: of some of the more specific down in dirty ways

1230
00:55:16,800 --> 00:55:20,239
Speaker 1: to bring a mindset of frugality more into your life. Yeah, man,

1231
00:55:20,239 --> 00:55:22,399
Speaker 1: that's right. And a few episodes ago, we had our

1232
00:55:22,400 --> 00:55:25,239
Speaker 1: first episode that we dedicated purely to you know, a

1233
00:55:25,239 --> 00:55:27,680
Speaker 1: listener's question. But I love that. It just felt like

1234
00:55:27,680 --> 00:55:29,640
Speaker 1: a much more practical way for us to kind of

1235
00:55:29,640 --> 00:55:31,920
Speaker 1: cover a topic. So, if you are out there and

1236
00:55:31,920 --> 00:55:34,320
Speaker 1: you're listening, and you have a specific question in regards

1237
00:55:34,360 --> 00:55:37,680
Speaker 1: to personal finance, whether it be real estate or tips

1238
00:55:37,719 --> 00:55:39,640
Speaker 1: on how to save money, just whatever it is it

1239
00:55:39,719 --> 00:55:43,239
Speaker 1: might be, email us at how to Money pod at

1240
00:55:43,280 --> 00:55:45,880
Speaker 1: gmail dot com. We read all the messages that come

1241
00:55:45,920 --> 00:55:47,560
Speaker 1: through and we try to respond to all of them

1242
00:55:47,680 --> 00:55:49,799
Speaker 1: and hopefully we'll be able to feature some of those

1243
00:55:49,840 --> 00:55:53,440
Speaker 1: as full podcast episodes. That's right, and if you like

1244
00:55:53,560 --> 00:55:55,920
Speaker 1: this show, if it's bringing value to your life, please

1245
00:55:56,040 --> 00:55:59,560
Speaker 1: let us know. Consider leaving a review on Apple Podcasts

1246
00:55:59,600 --> 00:56:03,760
Speaker 1: and hit the subscribe button wherever you're listening to the show. Cool,

1247
00:56:04,280 --> 00:56:07,080
Speaker 1: Thanks for listening. Best Friends Out, best Friends Out Man