Comments on: Big Wins Compared To Daily Frugality Basics

By: Bret

Bret — Mon, 19 Oct 2009 18:33:43 +0000

My financial life has been an evolution from Frugalist to Big Winner. And, although they both have their place and I continue to be frugal; the Big Win has made a much greater positive impact on my finances. Focusing on income has also yielded a greater return for my time and energy, than being frugal. That being said, you have to actually save and invest the extra money for it to pay off with either method.

I think where the “Latte Factor” comes into play, is where people aren’t saving at all and are just wasting all of their money. I can’t tell you how many times people have told me they can’t afford to save any money, but they are eating out, drinking at bars, smoking cigarettes and frequenting Starbucks. I just have to bite my tongue and hope they learn.

By: FB @ FabulouslyBroke.com

FB @ FabulouslyBroke.com — Sat, 17 Oct 2009 16:31:04 +0000

Both are strategies to get ahead.

Why not use the two to your advantage? Doesn’t make any sense to just focus on one or the other.

Like you said, it’s a mindset that should just carry you through the day when you think about your big wins or not buying a lunch when you’ve already packed your own sandwich.

By: Frank Frugal

Frank Frugal — Mon, 12 Oct 2009 21:28:01 +0000

Focusing on one to the exclusion of the other can cancel out your results. I could save $2,000 from small changes, then spend it on something big. Or I could save $2,000 on something big, then spend it on daily small items. Or I could do both, and end up with $4,000 in the bank. Now I have true freedom for what’s really important to me. Instead of canceling one with the other, why not multiply?

Small changes and big wins are two sides of the same coin. The goal is to avoid spending money on things that don’t matter to you (both small and large), so that you have the freedom to afford the things that are truly important to you (again, both small and large).

Thanks for a good post!