clipping coupons and killing your starbucks habit - takes you where?

[5holiday]

A writer named Mr Money Mustache talks rejecting consumerism and building up a 'stash' that can sustain your non-consumerism lifestyle.

Getting Rich: from Zero to Hero in One Blog Post | Mr. Money Mustache

what do other fastlaners think?

 

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[100k]

Sounds like someone in the slow lane..... saving your way to riches.

Utilize a business/system and get there quicker.

Fastlane 101

 

[AllenCrawley]

There is actually a thread in the INSIDERS's Forum about Mr. Money Mustache.

https://www.thefastlaneforum.com/insiders-forum/46067-fastlane-slowlane.html

Most would be surprised at MJ's take on this.

 

[BogatiGad]

rejecting consumerism is always good, but do not look at everything that black and white,,, if you can't get a glass of wine or a coffee that is stupid also you need to consume something it order to learn faster how to profit from it

 

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[5holiday]

Most would be surprised at MJ's take on this.

I cant actually see inside the 'INSIDERS' zone. Any chance we could get a quick summary?

 

[EastWind]

frugality is important to making money, and is also important in retaining it.
if you are not frugal, you won't be able to save, and when an opportunity that requires money arrives, you can't execute!
if you are not frugal and make a lot of money, you will piss it away sooo fast living the life.

before i joined this forum, i found a frugal forum, but i outgrew it.
i out grew that forum, because i knew there was a limit you could cut your expense, but no limit to growing income.
however, i never out grew frugalness but i out grew the idea that it's the only way.
a lot of people in that forum are risk averse.
a lot of people in get rich forum can be frugal averse and believe in faking it till you make it.
i believe there's a fine balance between the two.

 

[jon.a]

The only barrier to INSIDERS entry that I'm aware of at the moment is the subscription.

I cant actually see inside the 'INSIDERS' zone. Any chance we could get a quick summary?

 

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[jackwilder94]

In my opinion the whole frugal thing is bs. What's the point of saving a few bucks per day? Grow your biz faster, or get another one, invest, and then you can save atleast a few hundred $ per day, without being frugal.

Being (very frugal) won't help at all with your biz.

Life is made to go out, as much as you can, travel as much as you can, get as much as you can, and your success doesn't depend on frugality at all unless you're spending 10k/day.

 

[EastWind]

In my opinion the whole frugal thing is bs. What's the point of saving a few bucks per day? Grow your biz faster, or get another one, invest, and then you can save atleast a few hundred $ per day, without being frugal.

Being (very frugal) won't help at all with your biz.

Life is made to go out, as much as you can, travel as much as you can, get as much as you can, and your success doesn't depend on frugality at all unless you're spending 10k/day.

michael jackson made billions, mike tyson made hundred of millions, T.O made millions, there are lottery winners that won millions and yet they are all broke. Why? because they didn't spend frugal but friviously. being frugal is a key part of the equation. MJ bought a lambo initially right? What does he like to drive now? His Toyota truck.

 

[jackwilder94]

michael jackson made billions, mike tyson made hundred of millions, T.O made millions, there are lottery winners that won millions and yet they are all broke. Why? because they didn't spend frugal but friviously. being frugal is a key part of the equation. MJ bought a lambo initially right? What does he like to drive now? His Toyota truck.

Their problem. This was after they made their fortunes. What i was talking about is that while you build your fortune it really doesn't matter being that frugal or not. After that everything depends on your money management skills.

 

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[valuegiver]

During the building of your fastlane business, you need to be frugal since you can't afford any mistake in cashflow.

Their problem. This was after they made their fortunes. What i was talking about is that while you build your fortune it really doesn't matter being that frugal or not. After that everything depends on your money management skills.

 

[RBefort]

I dont' see why clipping coupons is a bad thing, as long as you don't understand that it will suddenly make you rich...but buying junk when you have coupons handy and not use them is just pissing away easy money. I kick myself when I normally get a haircut for $14 and have a coupon for 5, then forget to take it. 9 bucks is 2-3 fast food meals or a loaf of bread, milk, meat and cheese for 10+ meals.

 

[valuegiver]

Something related to the discussion (or maybe not): Why Pay More? by Peter Singer - Project Syndicate

 

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[CommonCents]

You gotta live within your means, no matter what level that is. $10k a year to $10mil a year. Time is money, nothin wrong w/ using some coupons to save a few bucks. But if you are spending hours clippin coupons you'd probably be practicing penny wise, pound foolish thinking instead of working on increasing your income.

 

[valuegiver]

I think you guys will love this post:
=> How to Make Money When You Don't Have Disposable Income - The Blog of Charles Ngo

 

[dknise]

what do other fastlaners think?

What I'm wondering is when this place transitioned from TheFastLaneForum.com to TheSlowLaneForum.com. Stop spending 5 hours a week clipping coupons and start spending 5 hours a week providing value to your business. If you don't have a business, well then you're just flat out behind and I encourage you to put down the scissors and start today.

 

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[5holiday]

What I'm wondering is when this place transitioned from TheFastLaneForum.com to TheSlowLaneForum.com.

this forum has always been an open forum where people can post ideas whether they are fastlane or slowlane, or off-topic. I'm sure that we all appreciate the breadth of ideas and experience.

do you propose that the content of other's posts be more limited to fast-lane only - according to your standard? you're not required to read anything slowlane so I'd encourage you to stop wasting your time.

Stop spending 5 hours a week clipping coupons and start spending 5 hours a week providing value to your business.

that is a particularly narrow minded view given the comments made by people above.

if you had read the article, you would notice the author places a lot of importance on 'finding happiness beyond spending'. He was not advocating coupon cutting frenzy.

Besides, I'm sure you would find more than a few people on the forum who would say that frugally managing the money you have is compatible with the fastlane.

 

[dknise]

Besides, I'm sure you would find more than a few people on the forum who would say that frugally managing the money you have is compatible with the fastlane.

First post:
https://www.thefastlaneforum.com/fa...mf-audiobook-fastlane-funnies.html#post221798



It's a recurring theme of TFLF.

 

[Arturo-Jay]

I've got friends who are very anti-frugal 100% (typical 20 somethings okay).
They have an racially offensive nickname for me, basically "frugal" Norwegian. It doesn't offend me, but I don't want to offend anyone else.
It doesn't bother me, actually I laugh...because the joke is on them!

They buy Caribou everyday, and still don't know the idea behind FASTLANE...
Fastfood EVERY day, CONSUME, CONSUME, CONSUME. But yet, they have no idea. It's like watching a dog chase it's tail.
And when they get evicted from their apartments, I'm soft hearted enough to help them out. Well not anymore, I'm done giving them any advice and helping them because of their own crappy decisions.

And then here I am, labelled the "frugal" guy, owns his own home, going to Europe and taking a 3 month vacation.
All because I loosely follow a budget. Wow, I'm SO "frugal", lol. Hardly.

 

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[theBiz]

In my opinion the whole frugal thing is bs. What's the point of saving a few bucks per day? Grow your biz faster, or get another one, invest, and then you can save atleast a few hundred $ per day, without being frugal.

Being (very frugal) won't help at all with your biz.

Life is made to go out, as much as you can, travel as much as you can, get as much as you can, and your success doesn't depend on frugality at all unless you're spending 10k/day.

Dont get it confused, when your starting up, you shouldent be drinking starbucks.

Almost everyone here with money that is self made im sure lived like this guy is preaching.... dont get it confused, he is right is some sense. No matter how much money you make you have to spend alot less than you make in order to go anywhere in life.

Yes saving a few bucks a day is useless when you make $1k per day but if your making $150 a day and spending $5 day on coffee, $4 on redbull and another $10 on random things, it 100% can make the difference on your future in life, same thing as the guy making $150 a day leasing a $600 week car living at home saying oh its only $600.... no thats wayt more than you can actually afford... even if you can afford it, if that makes any sense.

So while i agree with everyone going against this guy, until your in the position to do so, dont knock him because technically he is right until you prove him wrong.

 

[DennisD]

In my opinion the whole frugal thing is bs. What's the point of saving a few bucks per day? Grow your biz faster, or get another one, invest, and then you can save atleast a few hundred $ per day, without being frugal.

Being (very frugal) won't help at all with your biz.

Life is made to go out, as much as you can, travel as much as you can, get as much as you can, and your success doesn't depend on frugality at all unless you're spending 10k/day.

-You make a habbit of drinking a $6 cup of coffee every morning "I need my coffee to wake me up! I work so hard throughout the day, I deserve this"
-Then you buy a $9 pack of cigarettes for the day "What? Like you're a saint!"
-You grab a $5 burger for lunch "A guy's gotta eat... it doesn't matter how much you SPEND, it matters how much cashflow you have"
-You have a cheap $2 PBR 40oz of beer at the night "Just to unwind"

6+9+5+2= $22/day. That's $630/month.

But if you cut down to half a pack of smokes a day, bought ground coffee you made yourself, packed your own lunch, and cut out the beer you'd be spending $200/month. A difference of $430.

That's enough money to hire a FULLTIME filipino general virtual assistant or author. That's right... cutting down your smoking, packing your own lunch, and making your own coffee buys you 160 hours of sombody working on your business a month.

Cancel your netflix, gamefly, and HBO and you can afford another employee.

I don't think that 'saving' that money will help you in any way, honestly. But having the money to invest (in business services, in freelancers, in employees, or in advertising) will certainly accelerate your business.