Frugal People Never Do These Things

Are the frugal among us on to something? Or have they gone off the cheapskate deep end? Find out as I breakdown things that frugal people *allegedly* never do.

George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.

This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark. -

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[AtHost]

A frugal person once said, “There’s a lot of meat on that bone, you throw that in a pot with some vegetables, and baby you got yourself a stew”

[pattijacobs]

Years ago I had a trick that let me shop without spending money. This was back when clothing catalogues inundated all our mailboxes. I would excitedly go through each catalogue, marking the pages of all of the items I wanted to buy. Then I would put aside the catalogue for a few days. When I looked the items over again later on, I had lost the need/desire for almost all of them. I had the thrill of shopping without any negative consequences.

I do this on Amazon, as well. Whenever I see something I like, I put it in my Cart as if I were buying it. Then I just let it sit there. I go through my Cart every few weeks and say, "Oh, yeah, I really wanted that last month, but obviously I can live without it." This way I don't deny myself, but I don't make impulse purchases that I'll regret later.

[kamwatkins]

As a woman, it drives me crazy that so many other women complain about money, yet they are out getting mani-pedis, fake eyelashes, highlights, etc.

[karenjensen]

I NEVER waste food! After my 60th birthday party that was catered, we ate leftover sandwiches and chicken for 12 straight days. 😅 Don't laugh, we are debt free house paid for and think nothing of going on luxury vacations.

[bernadofelix]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[liveslisa]

Everyone, no matter your net worth, should have a budget.

[lfc]

1. Impulse shopping
2. Never waste food
3. Use credit unwisely
4. Buy brand names only
5. Neglect budgeting
6. Buy new when used works
7. Ignore energy waste
8. Ignore DIY
9. Pay for unnecessary subscriptions
10. ?
11. Mindless entertainment spending
12. Sacrifice quality for cheapness
13. Purchase trendy items

[gillinacookart]

I’m frugal big time. Everyone of these points are very true, I do all of them just the way you said. I have to give up my time to work, I’m not wasting the money. I Dont have a credit card, I save. I batch cook to save on electric & gas, food and my time. I do food plans on what I already have in cupboards and create shopping list and only buy what I need. I will do some DIY but will hire on the things I can’t do and I do get quotes. I buy high quality items and high quality up grades to my house so all lasts. No cheap stuff that Dont last. I Dont buy brands of anything, food clothes. In fact I haven’t bought any clothes for years, I have plenty good quality clothes. I helped my friend who was in debt by advising what to do, it took 3 years, she is now debt free and a saver. The list just goes on. 😊 I’ve been like this all my life.

[joytotheworld]

On point. My mother always said, "buy once buy good". This channel is one of my favorites.

[UnderestimatedPsychic]

Using no fee, cash back credit cards to pay for things I would buy anyway, then paying them off before 30 days is definitely smart and frugal. I get a $500 check for my Costco card every year plus additional 5% off all my Amazon purchases.

[josephcler]

My wife and I are frugal, but we use one credit card for most of our monthly purchases and pay it off every month. We have been doing this for years and have never paid any late fees.

[lyndadunn]

Several years ago a middle-aged woman at my Church bragged her and her husband never budgeted his income. Within a few weeks she stood up in Church to give a 'testimony' that they couldn't make their house payments. A neighbor lady paid off their house mortgage. All I could think was shame shame.

[brianmcg]

Everyone was talking about Stanley cups this past Christmas, and I thought everyone just became big hockey fans all of a sudden.

[candy]

I just paid off my car loan last week and received my title in the mail and I feel so ecstatic because it created more margin in my budget to work on my last debt and save. I freed up $200+ a month now! Thank god. I love meal planning and sticking to inexpensive meals that are quick to make and filling.

[mtaylor]

If you struggle with impulse buys or suspect you're buying something you don't really need, I recommend putting it in the cart, walking the entire store and doing an internal debate of how much use you will actually get out of it and contemplating what else you would be able to buy for roughly the same amount if you didn't buy the impulse purchase. I find that helps to put things in perspective. I have put a LOT of things back on the shelf once I started doing this.

[carlariggs]

I would never dumpster dive or do some of things people do on the show "Extreme Cheapskates", but I rarely pay retail. I also don't have a problem accepting freebies, shopping at a thrift store, or waiting until something goes on clearance. With this economy, I have been more selective in buying needs over wants. I splurge once or twice a year on myself (a nice candle, perfume, or wine). The main thing is I don't want to make the same mistakes I did when I was younger...too much spending on silly items, going into debt way too much, and not putting more away for the future. It was a hard lesson to learn

[kylejohnson]

Something worth spending a few hundred bucks on is clear plastic bins(including the cover), for storage and moving things. Being able to see what's stored in a bin from any angle is so handy, and it makes moving super convenient. If I want to do some cleaning, I just pull out the cleaning bin and it has everything in it I need. Uh oh, missing an adapter or cable? Check the tech bin! When I moved, I threw all my stuff into bins and never had to label anything since I could see all of it. They're stackable, don't get wet, have convenient handles.. If you need to bring a bunch things somewhere on the fly, just throw it in a bin and toss it in the car! Keep a bin in the trunk filled with car things(jumper cables, tire gauge, car cleaner wipes, rain-x, emergency starter, etc).

[popculturehero]

I'm frugal. I don't go out to eat without a coupon, No food delivery, mainly shop clearance section, and don't have credit card debt.
Used products can also be vintage collectibles.

[mommaoinnh]

1. I’ve never done an impulse buy. I buy what I need or want. I research anything over $50.
2. I don’t waste food, except maybe salad stuff once every 2 months. I eat out once every 2 months.
If you buy online & go pick it up, you buy much less junk. I also make food to give me about 5 meals and freeze half.
3. I use credit every day to get the points, but always pay it off monthly. Those points ends up being over $1000./ yr.
4. I may buy a name brand ketchup, but that’s about it. Oh, and I like my Charmin ultra strong!
5. I don’t budget, I just spend what I need and if I buy things I don’t use, I return them.
6. I buy my Volvo used, but my furniture either new or antique. I’ve had things 40 years.
7. My bedroom & upstairs thermostat is set to 60. Downstairs is 67 in day, 62 at night.
8. I do DIY. Built a concrete staircase w 7 steps myself, and I’m 67. Came out perfect!
9. I share subscriptions for tv, Netflix and phone bill w my kids & split it.
10. Entertainment? I’d rather own gold coins.
11. I only head to cheapness if it’s a temporary item. My couch is nice leather sleep sofa.
12. Who cares about trendy items. They are usually stupid.

[WaltzingAustralia]

Great video. I'm definitely frugal -- but I absolutely agree on Charmin Extra-Strength. And Dawn dish-washing liquid. Some things save you money by spending a bit more.