2859: Frugality Is Not Mainstream by Liz of Frugalwoods on Societal Pressure & Consumerism

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[00:01:06] [SPEAKER_00]: This is Optimal Finance Daily. Frugality Is Not Mainstream by Liz of Frugalwoods.com.

[00:01:13] [SPEAKER_00]: And I'm your host and personal finance enthusiast, Diana Merriam. I'm going to jump right into

[00:01:20] [SPEAKER_00]: today's post as we optimize your life. Frugality Is Not Mainstream by Liz of Frugalwoods.com.

[00:01:33] [SPEAKER_00]: A major factor in our ability to pursue financial independence and early retirement is the fact

[00:01:38] [SPEAKER_00]: that Mr. Frugalwoods and I don't care what you think. This is not to say that we don't

[00:01:44] [SPEAKER_00]: value your opinion, your advice or your guidance. We surely do. We just don't care if you judge

[00:01:50] [SPEAKER_00]: us. Go ahead. We've mastered the art of letting go and surrendering. We accept and announce

[00:01:58] [SPEAKER_00]: that we are officially unusual, frugal weirdos, contrary to the mainstream. I used to be a

[00:02:06] [SPEAKER_00]: bit closeted about our frugality, but now I'm known for it. Living a super frugal lifestyle

[00:02:12] [SPEAKER_00]: is what makes us happy and is our most genuine iteration of existence. It's getting us where

[00:02:19] [SPEAKER_00]: we want to be in life at age 30 instead of age 65. Plus, our friends know we'll gladly

[00:02:26] [SPEAKER_00]: take their hand-me-downs and we have no shame in picking up sweet furniture discarded by

[00:02:31] [SPEAKER_00]: the side of the road. The minute we stepped off the ridiculous carousel of consumerism

[00:02:37] [SPEAKER_00]: Okay, we were never really on it. And disavowed the socially correct, we felt free. Disclaimer,

[00:02:46] [SPEAKER_00]: this doesn't mean we break laws or treat others badly. We're moral, just, upstanding folks

[00:02:52] [SPEAKER_00]: who clean our house weekly. Being a good citizen, especially when living in dense urban environments

[00:02:58] [SPEAKER_00]: like we do, is important and we are believers in karma. Okay, now that that's out of the

[00:03:04] [SPEAKER_00]: way, I'll continue. Many of the peripheral things society dictates people care about

[00:03:10] [SPEAKER_00]: are financially draining and don't bring true happiness or a pure existence. Frugality

[00:03:16] [SPEAKER_00]: isn't a mainstream mode of existence. It's odd to live below your means, reuse everything,

[00:03:23] [SPEAKER_00]: cut your own hair, shop used, and not spend tons of, or like any, money on clothes, restaurants

[00:03:30] [SPEAKER_00]: and entertainment. Let's analyze the hamster wheel of success touted by society. Graduate

[00:03:38] [SPEAKER_00]: high school and attend the best university you're accepted to, no matter the cost or

[00:03:43] [SPEAKER_00]: the loans you'll incur. Get a job to make money. Doesn't matter if you enjoy it, it's

[00:03:49] [SPEAKER_00]: more acceptable to complain about it anyway. Get married and buy a house, preferably a

[00:03:55] [SPEAKER_00]: huge one you can barely afford. Buy new furniture for this house, and in fact, every time you

[00:04:01] [SPEAKER_00]: move. Reward yourself every time you get a raise by inflating your lifestyle, perhaps

[00:04:07] [SPEAKER_00]: by leasing a new car that's too expensive to pay cash for. Distract yourself from how

[00:04:12] [SPEAKER_00]: much you dislike your job by entertaining yourself with expensive movies, concerts,

[00:04:18] [SPEAKER_00]: restaurants, and your big screen TV. Become too important to do things for yourself and

[00:04:24] [SPEAKER_00]: instead pay people to clean your house or fix your leaky toilet or wash your dog, and

[00:04:30] [SPEAKER_00]: on and on and on. This carousel of lifestyle inflation will enslave you to your job in

[00:04:38] [SPEAKER_00]: perpetuity. I think it's terrifying when you see it for what it is, a way to keep you

[00:04:44] [SPEAKER_00]: chained to your desk. Work, buy, work more, buy, go into debt, better work more, the horror.

[00:04:53] [SPEAKER_00]: Here's a brief debunking of some trappings of success. A flashy car. If you're successful,

[00:05:01] [SPEAKER_00]: you have a nice car, right? That's how you show people you're making it. Well, I disagree.

[00:05:07] [SPEAKER_00]: The Frugalwoods Mobile, a 1996 cosmetically challenged Honda Odyssey minivan, does a great

[00:05:15] [SPEAKER_00]: job. It gets us where we need to go and we don't owe a dime on it. A high-powered career.

[00:05:22] [SPEAKER_00]: I used to be really hung up on where I worked and what my title was and how quickly I was

[00:05:27] [SPEAKER_00]: advancing. Well, that didn't make me happy. There was no fulfillment. Now, by letting

[00:05:33] [SPEAKER_00]: go of caring what others may or may not be judging or saying about my job, I'm free

[00:05:38] [SPEAKER_00]: to pursue a life that brings me joy. Lots of stuff. Fancy vacations, entertainment,

[00:05:45] [SPEAKER_00]: restaurants, things of that ilk. Most of these are road bump opiates. They make you feel

[00:05:52] [SPEAKER_00]: good in the moment but ultimately don't fulfill you and derail your savings efforts. We absolutely

[00:06:00] [SPEAKER_00]: believe in enjoying life. We don't self-flagellate or put stones in our shoes as pentance, I

[00:06:07] [SPEAKER_00]: swear. On Saturday, we went on a picnic with friends, rode our bikes around town, specifically

[00:06:14] [SPEAKER_00]: to the grocery store to eat the free samples, and enjoyed a coffee date at home. And we

[00:06:19] [SPEAKER_00]: do go on vacation. In fact, we've traveled abroad quite extensively. We just frugalize

[00:06:25] [SPEAKER_00]: it. By freeing ourselves from material competition and the so-called trappings of success, Mr.

[00:06:32] [SPEAKER_00]: Frugalwoods and I are able to live a life entirely devoted to our goal of retiring early

[00:06:38] [SPEAKER_00]: and moving to a rural homestead. I think some folks are inherently unconcerned with what

[00:06:44] [SPEAKER_00]: other people think. Mr. Frugalwoods falls into this camp. But this wasn't always the

[00:06:49] [SPEAKER_00]: case for me. I had to make a conscious effort to abandon societal conventions and instead

[00:06:55] [SPEAKER_00]: pursue my conception of a meaningful life. For some reason, I was hung up on the notion

[00:07:00] [SPEAKER_00]: that I needed to achieve or prove myself in order to be a good person. I'm so over that.

[00:07:06] [SPEAKER_00]: I now believe that I need to live my true purpose and that being a person who affects

[00:07:12] [SPEAKER_00]: positive change will naturally follow. You just listened to the post titled,

[00:07:21] [SPEAKER_00]: Frugality is not Mainstream by Liz of frugalwoods.com. And I'll be right back with my commentary.

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[00:08:30] [SPEAKER_00]: Learning to not care what other people think is easier said than done. We're social creatures

[00:08:36] [SPEAKER_00]: and it's ingrained in us to want to be accepted by others. I think the key is to be highly selective

[00:08:43] [SPEAKER_00]: about whose approval we're seeking paired with a lot of awareness of our own preferences.

[00:08:49] [SPEAKER_00]: I've heard that the easiest way to combat our tendency to keep up with the Joneses

[00:08:54] [SPEAKER_00]: is to simply not hang out with them. But the Joneses are everywhere. Even within personal

[00:09:01] [SPEAKER_00]: finance circles, there are harsh judgments around how people choose to spend money

[00:09:05] [SPEAKER_00]: and competitions for who has the dumpiest car or who can live on the least. If you can surround

[00:09:13] [SPEAKER_00]: yourself with people who have similar values and interests, you'll scratch your need for acceptance

[00:09:18] [SPEAKER_00]: while staying true to yourself. And to that point, self-awareness is key. There's a reason it's said

[00:09:25] [SPEAKER_00]: that comparison is the thief of joy. When you're confident in who you are and are able to embrace

[00:09:32] [SPEAKER_00]: your authenticity, external opinions simply hold less power. But that should do it for today. Have

[00:09:39] [SPEAKER_00]: a happy rest of your day and I'll see you on the Monday show tomorrow where optimal life awaits.