Different Budgets for Different people

[Frugal Father (tm)]

I have learned your personality has a lot to do with the way you save or budget. Lets remember you are really never saving anything when you spend money. If an item is $10.00 and its onsale for $5.00 you didn't save 5.00 you still spent 5.00. Granted its for less and thats what budgeting is about. Consider your personality whan setting something up make sure you do something that works for you and you'll buy your items for less money. Remember savings is something we put in the bank,bonds or mutual funds.

Frugality Rules!!

The Frugal Father (tm)

[sweeps]

Re: Different Budgets for Different people

Frugal Father, have you met Budget Man? I think you guys would have a lot to talk about.

[Ima saver]

Re: Different Budgets for Different people

You are right. When I read about people using coupons or buying something on sale, I think, but did they really need that? Just because I bought a dress on sale does not mean I am saving money. I have plenty of clothes, I don't need another dress!

[Gruntina]

Re: Different Budgets for Different people

I would consider it saving if it was needed and ...IF... they have a history of shopping for things for full price prior to shaping up financial budget. (As long as they don't buy more items than in past) That is enough to feel they accomplish savings in the first few months and then whittle it down to even more savings by realizing wants and needs and not buy wants so much. This is a short term phase until I got deeper with saving money to keep rather than spending on things. It’s a step by step process for the beginners

[Mathew Green]

Re: Different Budgets for Different people

Lets remember you are really never saving anything when you spend money. If an item is $10.00 and its onsale for $5.00 you didn't save 5.00 you still spent 5.00.

This is one of my pet peeves. (people who try to make a point by twisting ordinary english words into some specific meaning while ignoring all the other ordinary meanings)

When you buy something on sale that you would have bought anyway, you ARE saving money. Period. Plain english. No PHD or MBA needed to translate. Cheaper is cheaper!

[Frugal Father (tm)]

Re: Different Budgets for Different people

Pet Peeves huh? Yes I see your point I am addressing the fact that savings is losing it meaning in some aspects and that there is alot of justification going along with the word. Still all in all spendin is not saving but I see your point and I digress......Thanks for you point of view.

Frugal Father (tm)

Frugality Rules!!

[LuxLiving]

Re: Different Budgets for Different people

It is a very 'FINE' distinction. If I go to the grocery and am determined to buy tea today NO MATTER THE COST and it is normally 1.50 and I find it sale priced at .99 then I have saved .51 off the normal purchase price. However, unless I move the .51 to an actual savings account I may or may not have 'saved' it. If I turn around and blow the .51 on a pack of gum, then the lowered price did allow me to have something I otherwise couldn't have afforded on my 1.50 grocery budget. But, I'm really not much better off in the long run.

If, however, I move the .51 into some type of investment vehichle or savings account then yes, I've SAVED it. Or if I use it to buy a can of tuna that will help my budget stretch farther next month, then again, I have a 'SAVINGS'. Not all nutrients being equal - gum vs. tuna.

relevant article:

http://frugalliving.about.com/od/savings/a/moneysaved.htm

[Frugal Father (tm)]

Re: Different Budgets for Different people

It is a very 'FINE' distinction. If I go to the grocery and am determined to buy tea today NO MATTER THE COST and it is normally 1.50 and I find it sale priced at .99 then I have saved .51 off the normal purchase price. However, unless I move the .51 to an actual savings account I may or may not have 'saved' it. If I turn around and blow the .51 on a pack of gum, then the lowered price did allow me to have something I otherwise couldn't have afforded on my 1.50 grocery budget. But, I'm really not much better off in the long run.

If, however, I move the .51 into some type of investment vehichle or savings account then yes, I've SAVED it. Or if I use it to buy a can of tuna that will help my budget stretch farther next month, then again, I have a 'SAVINGS'. Not all nutrients being equal - gum vs. tuna.

relevant article:
http://frugalliving.about.com/od/sav...moneysaved.htm

BRAVO! Luxliving....

You have described it thoroughly. That is my point. I may have gotten over zealous and put the emphasis on the spending is spent aspect and not on where the "savings" goes. Thanks for clearing it up for the folks.

[jmjj215]

Re: Different Budgets for Different people

So lux, the higher the retail price, the more you saved? Who can trust retail pricing anyway?

I love it when my MIL comes back from shopping and tells me about all the money she saved. I just laugh.

[Bookie]

Re: Different Budgets for Different people

When I use a word,' Humpty Dumpty said, in a rather scornful tone,' it means just what I choose it to mean, neither more nor less.

The question is,' said Alice, 'whether you can make words mean so many different things.'

'The question is,' said Humpty Dumpty, 'which is to be master - that's all.'' '

Lewis Carrol - Alice Through the Lookiing Glass

[LuxLiving]

Re: Different Budgets for Different people

Well Jesse, I wouldn't use the same example if I were mall crawling. On food if it is stuff that I normally buy then yes, retail prices can be iffy, but as I said if I'm determined to buy tea and it's off it's normal price then there is a savings there, but it's only 'airsavings' until I actually move it to some type of savings vehicle or use it to stretch out my already tight grocery budget with other cagey buys.

The teller at the grocery who tells me "Congratulations, you saved $12.50 today", always gets a raised eyebrow from me. My thoughts are always, "NOT - unless I go home and move it to the savings account." Which I often do.

Not to worry - I do not 'dress' shop & come home telling my husband I saved him $200.00 because the Manolo's were on sale down from 799.00 to 599.00.

[vsjhoc]

Re: Different Budgets for Different people

the Manolo's were on sale down from 799.00 to 599.00.

Where did you find Manolo's for $599????!!

[LuxLiving]

Re: Different Budgets for Different people

I wouldn't know a Manolo from a Thom McKan!