Does your life feel pretty chaotic? Would you like to learn how to organize your life so that it is simpler and less stressful? Well, this blog post is for you! Life can be difficult, and I completely understand that. It can feel quite daunting to manage everything from paying bills, family life, retirement planning, […]
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I’m in Florida for ten days to attend a couple of weekend early retirement retreats. At Camp FI, about 50 or 60 people gather for three days of what Mr. Money Mustache calls “crazy rich people talk” — real estate investing, travel hacking, gift card arbitrage, 70% saving rates, and the rewards of frugality and thrift.
One afternoon, the conversation turned to clothing. Given that so many people in the room had a net worth of more than a million dollars, a surprising number of us still bought our clothes at thrift stores.
“I can’t bring myself to pay more than ten dollars for a t-shirt,” one guy said. We all nodded in agreement.
“I don’t pay anything for t-shirts,” said another fellow. “I travel a lot for work. When I go to conferences, I often come home with three or five or ten t-shirts. There’s no point in ever paying for them.” Throughout the weekend, I noticed that a lot of us wore t-shirts we’d picked up for free. (Because we’re money nerds, Choose FI t-shirts were prominent.)
“But what about quality clothes?” asked one woman. “I get why we’re all so cheap on the everyday stuff. But sometimes, I want clothing that looks good, that I can go out in.”
“I’m a long-time thrift store shopper,” I said, “and it’s taken some effort to allow myself to shop in regular stores. For quality stuff, I think it’s important to find a store with styles you like where the clothes also fit well.”
“I’ll give you an example. In the fall of 2016, I made a trip to New York City. The forecast was for warm weather, so I took warm weather clothes. Turns out, temperatures were much lower than expected. And it rained. I was unprepared. My hotel was next to a J. Crew store, so I stopped in. I had never shopped there before in my life, but I discovered I liked the stuff they had and their clothes fit me well. I didn’t like the prices, but I managed to find a few things on sale, so I bought them.”
I paused and looked down at the clothes that I had on. “Ha,” I said. “Right now, I’m wearing the dress shirt and sweater I bought that day in New York.”
“I don’t shop at thrift stores,” said the man standing next to me. “I don’t like to have a lot of cheap clothes. I like simplicity and minimalism. So, I’m willing to pay more for my clothes because I buy only a handful of items and expect them to last a long time.”
“Can you give some examples?” somebody asked.
“Take this shirt I’m wearing now,” he said. “It’s a wool t-shirt from Icebreaker. And this jacket is from the same company. It’s more expensive — probably a lot more expensive — but it lasts a long time, looks good, and is very versatile. Merino wool is warm when it’s cold and cool when it’s warm. Plus, I can wear it for days on end without it stinking. I think that J.D. likes Icebreaker stuff too, right?”
“I do,” I said. “I brought two of their wool t-shirts with me on this trip. And because it’s freezing here in Florida right now, I brought an Icebreaker jacket.”
“I try to keep a small wardrobe too,” said another friend. “For me, that means always wearing the same thing. I have like four or five of the same t-shirt. I have two pears of pants, and they’re both the same. And all of my socks are the same. I don’t even fold them. I just throw them all in the drawer loose since it doesn’t matter which ones I pull out.”
Sidenote: I didn’t mention it during the conversation, but you can find quality clothes at thrift stores. They’re more expensive, sure, but not nearly as expensive as buying them new. The key is patience. Sort through the racks. You might only find one or two items per trip, but that’s okay. To increase your odds, find a thrift store in a nice neighborhood. Kim and I, for instance, recently discovered a consignment store near us called Simply Posh. It has lots of nice clothes at great prices.
“You know, I read a great article recently,” I said. “I just shared it with the Get Rich Slowly mailing list. It’s all about how to shop for high-quality clothes. One of the points it made is that quality doesn’t have to be expensive — and that expensive doesn’t always mean quality.”
For many, the idea of saving can be overwhelming. With so many expenses to pay for, such as mortgage payments, car insurance, student loans, food, and much more, setting aside unspent money can seem impossible. However, there are plenty of ways you can start growing your savings, even if it only means setting aside a
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The older I get, the less I want or need. The older I get, the less I like to spend money. And when I have to buy something, I try to practice mindful shopping.
When I was younger, I wanted (and/or needed) all sorts of things. I wanted new clothes. I wanted tech gadgets. I wanted books. I was convinced that I needed a fast computer to be happy, not to mention a big house and lots of furniture. None of my shopping was mindful. It was mindless.
Now, at age fifty, buying things seems more like a hassle than a reward.
For one, buying something means I have to spend money — money that I’d rather keep for more important things, such as retirement. Or travel. Or beer. (Best of all: Travel and beer!)
Plus, there’s the entire shopping process. It’s a chore. If I need to buy a chainsaw, for instance (which I actually did this week), I have to research the best option. Then I have to find the best price. Then I have to order it or, worse, take time out of my day to go pick it up in person.
Then, after I buy a new thing, I have to store it. I have to dispose of the packaging, then add whatever I bought to my collection of Stuff. It becomes clutter in my life. (This is true whether the thing is actually clutter or not.)
I use my laptop computer all day every day, for instance, yet it still acts as mental (and physical) clutter. It’s always here in the living room, sitting next to my recliner. I see it whenever I walk by. It’s always on my mind.
I know I sound like an aging curmudgeon, but all of this is true. The older I get, the less Stuff I want — and the more I want to get rid of the Stuff I already own.
Now, I don’t want to pretend that I don’t buy things. I do. There’s no question that I do. I even spend frivolously if I’m not diligent. But I’m far less likely to buy things than I used to. And when I do buy things, I tend to be purposeful about my purchases. I try to be a mindful shopper.
Let’s use the chainsaw as an example.
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These are the frugal living tips that helped me go from habitual impulse spender to conscious consumer. I wasnât naturally frugal. I was $54,000 in debt, making about $35,000 a year, and spending every cent of my paycheck at restaurants,…
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These are the frugal living tips that helped me go from habitual impulse spender to conscious consumer. I wasnât naturally frugal. I was $54,000 in debt, making about $35,000 a year, and spending every cent of my paycheck at restaurants,…
The post 200 Frugal Living Tips & Ideas For Busy People appeared first on Modern Frugality.
Clothing swaps are a rad way to scratch your shopping itch without spending valuable income. When we were paying off $78K of student loan debt there would be days Iâd hate my wardrobe but I knew a new one wasnât…
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There are so many fashion trends that come and go; but what does that mean for your pockets? Youâre left overspending, making impulse decisions, or buying items because others are doing the same thing. Remember, fashion is a personal experience. Itâs unique to each one of us as we all express our personal style in
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Think cozy and minimalistic when decorating a small space.
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