PRUDENT SPENDING: Are you an "economic focused" gay man?

  • HndsmKansan

    Posts: 16311

    Apr 28, 2009 1:27 PM GMT
    So do you cut coupons? Are "ad aware"? How often do you just go and pay full price for clothes? Are you naturally that way or has the economic
    downturn given you new emphasis?

    Do you look at the money you are given back when you pay for purchases in cash?

    I thank my Dad for part of my "tight" behavior. I clip coupons, I pay attention to ads (my bf doesn't at all and we have a little tension from time to time). I look at what money I'm given back.... always... and I say something if I'm given the wrong change.

    I spend lots of money on Ralph Lauren polo shirts, but when they are on a big time sale... I go and buy gas getting .10 off from purchases at my grocery store. The point is... I'm a financial planner.. I ought to be a little aware with how I spend my money.


    What about you?
  • Hagan_F

    Posts: 210

    Apr 28, 2009 1:53 PM GMT
    You know I am. I've always been a coupon user (Coupons.com), I look at my change when I pay (by cash). Once my position was eleminated, I immediately cut out over $500 of unnecessary expenses out of my monthly budget. All good sense in my opinion but then I've learned the hard way. I grocery shop with a list (and stick to it!). My best story is shopping for a new suit, I found the last of a Bill Blass suit, fortunately my size, that was marked down several times from an original price of $425 to $39.98!! I spent more for a shirt and 2 ties to match and the $8 to have the pants altered than I did for the entire suit. I ROCK! ;-)
  • upsguy68

    Posts: 270

    Apr 28, 2009 1:54 PM GMT
    I am a very conscientious shopper. I don't clip coupons, but I still try to get the most for the money. My mother grew up in the Depression and was raised by my very frugal grandmother.
    But I have been known to succumb to the occasional IMPULSE BUY!
  • Timbales

    Posts: 13993

    Apr 28, 2009 1:57 PM GMT
    I've always been pretty frugal with my spending. I bargain shop for clothes, clip coupons, etc. I always keep in a mind a bargain isn't a bargain if it's not something you need or of subpar quality.
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    Apr 28, 2009 1:59 PM GMT
    I am a very prudent spender, but nothing compared to my partner. He is the bargain hunter, haggler of the two of us.

    I have rarely lived above my means. If my income is cut, my spending is also cut. It comes second nature to me. Mind you I am non-materialistic so it is not hard for me. "Things" like clothes, furniture, home decorations, etc., bore me to tears. I could live in the woods in a log cabin. As long as I had my Ipod and internet access, I would be happy. icon_cool.gif
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    Apr 28, 2009 2:02 PM GMT
    I dont cut coupons but I do keep my grocery list to the same list week to week. Meaning I dont impulse buy. I find it also helps my health and eating habits. I bring my lunch and food to work so I am not spending money to eat while working.

    I dont go out on a constant basis and go shopping. When I do shop it is usually at discount stores like Ross,Marshalls, etc and I dont necessarily buy something that is a 'Deal'. If I dont need it , I dont buy it.

    I do have other areas that I am not so frugal on like my grooming products, personal trainer, and home improvement items(Just bought a house last year).

    So I am probably like most people in that I am in the middle but I could do better.

  • Webster666

    Posts: 9217

    Apr 28, 2009 3:25 PM GMT
    Coupons don't seem to give much of a deal anymore. It's an insult to save 25 cents if you buy two of something. Instead, I usually buy a lot of something when it's on sale. Buy one/get one free is great. Usually, I only buy necessities.

    If I need cash, I get it in change when I'm at the grocery store so I won't have to pay an ATM fee.

    But, I'm not cheap. I've paid a lot for good quality appliances.

    I hardly ever buy clothing or shoes.

    For someone I love, money's no object..............................almost.
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    Apr 28, 2009 3:32 PM GMT
    I don't much "sweat the small stuff" as we used to say in the US Army, but for large purchases I am very shrewd. I always get cut-throat prices on big-ticket items, because I am patient enough to wait for bargains, pay cash for everything, and I'm a hard negotiator, a legacy of my New York City-area upbringing. If you can't offer me a deal, I walk away.
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    Apr 28, 2009 3:54 PM GMT
    I'm completely the opposite I just swipe my credit/debit card for everything and give the bill a cursory glance at the end of the month to make sure nothing looks out of place icon_redface.gif


    I also often just pick my favorite store, airline, cell phone company etc and automatically buy what there selling as long as it's fits in with what I expect to pay and is not heavily overpriced

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    Apr 28, 2009 5:18 PM GMT
    I'm not a clipper, but always watch what I'm spending and don't mind shopping around for the best price. I do the Costco thing too, as I have no problem making room for mass product.
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    Apr 28, 2009 6:23 PM GMT
    Life has forced me to be "economic focused." Independence comes with tremendous responsibility and having an apartment taught me that real quick. I joined Sams Club which has really helped on groceries. I will not take any more trips until my tuition for next semester is paid. And... no more Andrew Christian underwear for awhile -- my current collection will have to suffice icon_smile.gif
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    Apr 28, 2009 6:28 PM GMT
    I'm a cheap bastard!

    Except when it comes to spending money on friends. Drinks anyone? Haha.
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    Apr 28, 2009 8:03 PM GMT
    Never had to be one to watch prices. I listen to what many of my underlings complain about at work. Many of them do the coupon thing.
    This is not the time to be frugal. Spend.... it's good for the economy. icon_exclaim.gif
    I often tell them that they should invest the money they are saving by being so cheap. icon_idea.gif
    Now is THE best bloody time to buy stocks!!! Even real estate. My partner and I recently (last week) picked up two $600K + houses for $210K and $250K Even if they only sell for $3 or $350K, it's still worth it.

    Seriously, take $3-$4,000 right now and play with it. See what happens with some stocks. You just may find you have good intuition. icon_wink.gif
    If it turns out not to be a good thing for you, then you will have not lost a lot.
    Cheers,
    Keith
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    Apr 28, 2009 8:44 PM GMT
    I was raised by Franciscans, and one of the few things I took from them was to be content with living a very simple life. So I am very frugal, to say the least.
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    Apr 28, 2009 9:06 PM GMT
    I was bred to believe that "contentment breeds complacency."
    I could never sit by while these great financial opportunities are abound!!
    Not a critique.
    Cheers,
    Keith
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    Apr 28, 2009 9:06 PM GMT
    Actually, I pay attention to unit prices, not to ads. It seems that there are never "coupons" or "sale ads" for the things that I buy. The purpose of those things is usually to get you to buy more expensive stuff that you don't need.

    I get really upset when I see a "sale" tag on something that I buy from Safeway or a few other places. It usually means that they've actually raised the price, and it's going to go up even more next week. I usually find a different item to substitute.
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    Apr 28, 2009 10:09 PM GMT
    I try to spend and invest prudently. Most portfolios are vastly under-diversified. People need to look at all asset classes - from currencies to different spectrums of bonds on the yield curve to physical commodities - to achieve real diversification. What a great time to invest in real estate - markets are cool - savy investors are taking advantage of great opportunities.
  • MSUBioNerd

    Posts: 1813

    Apr 28, 2009 10:36 PM GMT
    Honestly, I don't pay as much attention to finances as I should. I rationalize it with the fact that I'm inherently adverse to spending money anyway, so I naturally end up living considerably below my means. Paying all my own bills, maxing out my yearly IRA, and ending up with a couple thousand added to my savings each year as a grad student feels like it's good enough, so I don't actually check my account balances frequently.

    At the same time, I also have been programmed by my solidly middle class background to stock up on frozen and non-perishable items that I use frequently when they go on sale. I can't remember the last time I paid "regular price" for frozen chicken, for example, as it seems like each type cyclically goes on sale at one of the local supermarkets at least once every 3 weeks.

    A deal is only a deal if you would buy the product or its equivalent anyway, and it's of good enough quality. I'd rather pay $10 once for a good pair of scissors that last me 15 years than pay $3 repeatedly for cheap pairs that warp and break within a year.

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    Apr 29, 2009 3:55 AM GMT
    I'm a naturally financially conscious person.

    Took it upon my self to clip coupons and had 3 paper routes by the time I was 10 yrs.

    I typically sail through recessionary periods simply because I am used to living below my means.

    I tend to spend my money on very big ticket items instead of $5 coffee.
  • Webster666

    Posts: 9217

    Apr 29, 2009 6:10 AM GMT
    I agree with the guys who said to invest in real estate. It's the perfect time. If I was working, that's exactly what I would do.