Keep Your Finances Weird

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The title of this posting borrows from the Texas capital’s informal slogan: “Keep Austin Weird”. The point being: if you adopt a frugal lifestyle with the goal of long-term wealth accumulation, you will be out of step with how most folks spend their money.

Be warned: Once you adopt frugal ways, you could really stick out among your present circle of friends and colleagues – like card-carrying Democrat living in West Texas.

First, there are the things you won’t be doing:

  • Leasing a spiffy European sedan every three years
  • Routinely dropping a hundred bills on concerts and sporting events
  • Spending a several nights out during the week for rounds of drinks with the gang
  • Taking at least one lavish vacation every year
  • Eating most of your meals at restaurants, except on the days you get takeout
  • Paying the minimum due on your credit cards

Then, there are the things you will be doing:

  • Driving a 10-year-old car with 110,000 miles on the odometer
  • Supplementing your wardrobe with thrift store finds
  • Saving at least 15% of your income for retirement
  • Paying off your credit card bills in full each and every month
  • Establishing a saving cushion and emergency fund
  • Preparing meals at home
  • Packing lunch
  • Seeking out enjoyable leisure activities that are inexpensive or free
  • Running a ‘side hustle’ to augment income from the day job

Don’t permit peers to deter you from your mission. Perhaps you need to find a set of companions who are of like mind. Or persuade your current acquaintances to assume a frugal mindset of their own.

Persevere. Just keep on: Being Weird

© 2016 Paul J Reimold

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