BayView

[MTR]

TopC

.... Frugality, not for me, never cared for the term.

Conjures images of dumpster diving, avoiding coffee shops as if spending a couple of bucks on a good cup of coffee is immoral. Ok, I'm exaggerating, but not by much.

Frugality not my idea of fun, where the overarching principle is to spend as little as possible.

All to their own, but Kathrynd can keep that one

 

[cu@thetop]

I'm still waiting for Peter Spann to post again. What's he up to nowadays? Is that magic moo thingy going?

 

[flightcrank]

I'm still waiting for Peter Spann to post again. What's he up to nowadays? Is that magic moo thingy going?

Ive have read about him.

I hear peter has his own personal chef live at his house. on call 24/7. or something like that.

 

[flightcrank]

.... Frugality, not for me, never cared for the term. ...
Frugality not my idea of fun, where the overarching principle is to spend as little as possible.

Frugality, is just living within your means. Its a great tool to use in the young period of your life when saving for your first deposit, or building equity quicker.

 

[Brady]

Ive have read about him.

I hear peter has his own personal chef live at his house. on call 24/7. or something like that.

Do you have some personal experience with Nathan Birch?

 

[D.T.]

I hear peter has his own personal chef live at his house. on call 24/7. or something like that.

That'd be awesome. I aspire to that too.

 

[flightcrank]

Do you have some personal experience with Nathan Birch?

no, thank god. read this thread on him. It should open your eyes.

That'd be awesome. I aspire to that too.

Have a read on these very fourms on what peter has done to people when he branched out from property and into shares/managed funds. I dont think he is a person you should aspire to be like.

 

[Of The Vultures]

That'd be awesome. I aspire to that too.

Me too! Although not the live-in part. They can deliver.

 

[D.T.]

Have a read on these very fourms on what peter has done to people when he branched out from property and into shares/managed funds. I dont think he is a person you should aspire to be like.

Yep, i'm fully aware of the transformation and don't aspire to any of that.
One can aspire to having an inhouse chef though right?

 

[flightcrank]

Yep, i'm fully aware of the transformation and don't aspire to any of that.
One can aspire to having an inhouse chef though right?

you have already had one half your life. your mum ! but each to his own.

 

[Singo]

One can aspire to having an inhouse chef though right?

I have one. But now and then I (love to/have to) cook for her as well

 

[MTR]

Frugality, is just living within your means. Its a great tool to use in the young period of your life when saving for your first deposit, or building equity quicker.

Hi FC

Yes, I get your point, living within your means, fair enough.

Perhaps I am looking at it differently to you.

I am thinking...... "cheap tight ar$se", saving pennies over and above everything.

For example, at a restaurant with friends and this particular person will not pay $8.00 for a glass of wine because we have an open bottle and they will help themselves. I know pretty petty, but people who free load to save a buck get up my nose.

MTR

 

[The Fence]

Free loading and being frugal are completely different.

Being frugal is sharing the price of the bottle of wine.
Free loading is drinking without paying.

We have some friends who suggested we share main meals.
Eg, table of 4 buy 3 pastas and share around.

We just paid the whole tab and got entrees as well as a full main each.
They were delighted !

But then, they are retired and had no investment strategy, so hence the frugality.

Never seems to stop them travelling OS fairly regular.

 

[TMNT]

Free loading and being frugal are completely different.

Being frugal is sharing the price of the bottle of wine.
Free loading is drinking without paying.

We have some friends who suggested we share main meals.
Eg, table of 4 buy 3 pastas and share around.

We just paid the whole tab and got entrees as well as a full main each.
They were delighted !

so I dont get it, are you saying these people were freeloaders or frugal????


also, did kathrynd leave because of these reasons?? has anybody confirmed it?

 

[The Fence]

Im saying exactly what I said.

They are not freeloading when we decide to pay for dinner. Clearly.
That was our decision as a treat for them. They are very good to us.
In fact it could be said that we "freeload" on them at times when staying.
But it's not freeloading. It's their offer and we accept. same as the example dinner.
Who would freeload on a friend?

Our friends are frugal. The sharing meals bit etc.
But they need to be I guess, not having any substantial investments etc.

I have no idea about Kathryn in regards to this topic.

Last I heard they were in NT looking after a roadhouse.

 

[skater]

Personalities aside, there will always be people you don't like, or that don't like you, and Kathryn was no exception.

BUT.... She sure was/is an asset to the forum. OK, so some of her money saving tips were 'out there', but remember that most posters here are NOT on a low income, so you will not relate to this.

I related to some of it because back in our early days we were broke. REALLY BROKE! And we had to decide did we want to continue to be broke, possibly end up bankrupt, or do something about it. We did something about it, and it was hard. DAMN HARD!

So, we don't live like that any more, and life is much better, but I guess what I liked most about Kathryn was that she is an example that anyone can invest if they are prepared to do the hard yards and find the right properties for their situation/income.

It's all about living within your means, and then getting together that first deposit. If your income is, say, over $100k, it shouldn't be too hard, but if you are on $50k, you might not be able to afford the coffee shops, bought lunches, etc.

 

[geoffw]

You're right Skater. Frugality can be a necessity.

When I took on Subway there was a big drop in income, and although I'm not into extreme frugality, I did learn to do without a lot of things which I had taken for granted. It paid off, but learning to do without some things was a useful lesson for me.

While we focus on some of the extreme frugalities Katherine practiced, don't forget also the big one. They travelled Australia by house sitting, living for some weeks or even months in a single place. It was a good way for Bob to show Australia to Katherine, being able to explore it at a much lower cost than would otherwise have been possible, and being able to explore more than many of us ever will.

 

[skater]

That's right Geoff. Kathryn and Bob were, I believe, on an extremely low income. Despite that, they built up a large portfolio of properties, doing a lot of the work themselves. They were then able to travel for half a year to Australia, and have others look after their empire while they are away.

I'm led to believe that their income is still not all that high, so they found a way to still do what they wanted to do on the income they have. Most people would have said it was all too hard, yet they did it!

Over time their incomes will get bigger, as rental increases take hold, and I think they might also use P&I as well, so this will also help.

So, love them or hate them, they are an inspiration, especially to those starting out on a low income.

You don't have to follow the herd. Find something that works for you, do what you need to do, within your moral and ethical boundaries, of course, and you won't look back.

 

[The Fence]

I thought Kath and Bob were very smart people to get where they are today on so little. Ingenuity and street smarts are their forte. Good on them !

Travelling Australia like they do is smart, not frugal.

We plan on doing the same.

Who would'nt like a month or two in a desirable location, cost free?

 

[TMNT]

why is it so hard to understand that people have different priorities and choices in life!

as long as it isnt immoral, unethical, illegal or simply wrong

and as long as they dont ram it down your throat or think they are better for doing it.

then let them be, and be merry!!!

I have friends who would happily spend $200 per night on drinks, a huge hangover and memory loss, but think $20 for dinner is a rip off

I also have friends who earn $2000 per week after tax, and are in their 40s and have massive credit card debts!!!! they dont own a car, or any real estate or shares. if the world ended tomorrow, id rather be in their shoes then mine. And they are happy!