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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