There are a few memorable TV shows that come to mind when thinking of the word cheap skate. Think of Seinfeld’s George Costanza who always tried to get everyone else to pay for his lunch at the diner and famously ordered the cheap-o wedding invitations with the toxic envelope glue. Even junior audiences have Mr. Krabs who wouldn’t let a penny hit the floor without rushing to the scene.
While we may laugh about these funny TV personalities or mock their cheapness, there is some financial logic behind their extreme frugal personalities, and it makes me wonder, “Is being cheap the key to living your dream life?” And, if it’s not THE KEY permanently, is being a cheap skate at least temporarily the key?
I think so.
How Being Cheap Is The Key To Living Your Dream Life…
Those who save and sacrifice now are more likely to come out ahead in the future with the proper financial planning. The money you stash away now in your bank account and investments will benefit in the future when you no longer wish to work so hard just to make ends meet. The money you need will be there when you need it.
As we age, we become more cognizant of what we want in our lives. When we are young, we may only see what we think we want when it is right in front of us but as we grow older, we begin to figure out what it is we really want in order to achieve a dream life. If giving up an excessive brand-name wardrobe now would afford us that amazing house surrounded by mountains without financial worries or debt, doesn’t it make sense to make those sacrifices?
There are some that can live a simple life and there are some that clutter their lives up with wants. The person that has simple needs and the knowledge that saving is more important than spending will be able to fulfill their dreams while still remaining financial solid. The person that spends recklessly throughout their daily life will likely struggle with debts and when things come along they really want in life, they will probably never be able to afford them.
How many times have you heard someone you know say ‘keep dreaming’ when they see awesome cars, elegant homes, or dream vacations? They too could have all they wanted if they learned to live a more financially responsible, albeit cheap daily life.
Sacrificing a bunch of junk in hindsight isn’t so terrible when it leads you to your dream life. It will no doubt take time to reach your goals and may subject you to some peer pressure along the way, but at the end, your dream life will be its own reward.
What are your thoughts? Is being cheap the key to living your dream life or is their another key?