yep
i used to buy like 90 dollar jeans, 130 dollar shoes latest fashion, every video game system etc.
now i'd rather cop 3 jeans for 90, cheap shoes from the nike outlet, still got my old ass ps3 i'd rather spend fruggally and travel
Exactly, there's dudes who buy $500 phones every year just for a slight speed boost and that has a couple of new features they will end up not even using.
Frugality is an especially important point to learn and it is never taught in school because the school system wants to create employees and consumers. Consider the fact that If there are athletes that earned tens of millions, if not hundreds of millions of dollars and went broke, what can happen to you and I?
When you're young, a lot of you guys want to get to 'flashing', but think about what a flash is. It's an intense burst of brightness that soon thereafter dissipates into nothingness. Doesn't that sound like a lot of people you might know? They were the man in high school or even in college, and now they aren't doing anything with their lives. They are burnt out. There are a lot of social factors telling you young cats to flash, to do this, to do that, and all of it is geared towards parting you with your money. You have to learn to ignore it and stay true to principle.
Go to the mall for example... you will see some kiosks, a lot of times with a middle-eastern guy running it. They have all of this 'bling bling' that they are willing to sell to you for some exorbitant price. More times than not, they are buying that blinged out chain for 30 bucks but selling it to you for 700. Take a quick glance look on their neck and their wrist. Do you see any of that stuff in the counter on their body? What does that tell you?
Think about all the 'hot clothes' at one period that you can't wear anymore because it's out of fashion. There are so many avenues for you to be parted of your cash, and while it may seem like a fun expenditure at the time, I am guaranteeing you that you will want to have had that cash in hand later on in life.
That's not to say dress bummy and be a miser. It IS to say to look for bargains, NEVER follow the hot trend because you will get charged excessively.
You want to build that large rainy day fund because bad times will come and you will be in a job you hate... If you don't have that money there, you will be stuck. Past the rainy day fund, you want to learn how to invest your money, whether it is in your own business or your stocks and bonds. We're not living in a day and age where high paying jobs are easy to come by and the trend for corporations is to reduce the amount of compensation they are giving out, so when it's said and done, if you don't know how to get it yourself, you're going to be making crumbs.