When Does Frugal Go Too Far?

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Education, Business, Money, Investing, Financial Planning, Cfp, Personal Finance, Retirement

4.4 • 2K Ratings

🗓️ 16 July 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Do you buy second-hand clothes instead of new? How about waiting to buy that special something until there's an awesome deal? Dumpster dive? Argue with clerks for a discount? There's a ton of frugal living tips out there but when does frugal cross the line and you're just being cheap? Today our roundtable team discusses the five times one blogger says that being frugal goes too far. Plus, we're performing this episode LIVE on the new Fireside app, so you'll hear from several members of our live audience, too (we've also linked their information below)!

Joining us for this special episode we welcome half of the Frugal Friends podcast duo, Jen Smith. Plus, OG and Paula Pant (Afford Anything) pitch in to make this a wide-ranging, fun conversation with more than several takeaways. We discuss the value of our time as it relates to purchases, the tendency to overconsume when we see a deal, and we'll all share some great stories about our own frugal living.

Of course, what would a Friday episode be like without our trivia challenge? Diania Merriam (EconoMe Conference) takes over the "Doug" duties today and dishes a great question for our contestants. Enjoy!

Enjoy!

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Transcript

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0:00.0	Created Live on Fireside.
0:07.3	Live from Joe's Mom's Basement, it's the Stacking Benjamin Show.
0:29.4	I'm Joe's Mom's Cous coming to you live from the Fireside app. When does Frugel go too far?
0:38.4	Today, joining us to talk cheap, it's the co-host of the Frugal Friends podcast. Huh, it's almost like we strategically pick topics based on the guest.
0:45.9	Welcome, Jen Smith. From the Afford Anything podcast, it's Paula Pan. And from this here podcast, it's Jeff Bezos. No, just kidding. He's busy, bathing, and champagne-soaked money now that he's
0:51.7	retired from Amazon. So it's just OG. And now a guy who
0:56.0	loves himself a good unbranded beer, Joe Salcihai. Do you remember the old days, Diana?
1:08.8	Well, you probably don't remember this. When the unbranded beer was like it was a white label and it just said beer and big black letters.
1:17.0	Well, given that I'm not much of a beer drinker, I don't think I'd remember those days.
1:20.7	They never existed for me, Joe.
1:22.5	Probably not.
1:23.6	It's like, even if there was a label, I wouldn't know what it was.
1:26.6	Bring on the Trader Joe's wine. What is it? Two buck chuck? That's, isn't it up to, with inflation, does it become three buck chuck? I don't know. Hey, everybody. Welcome to Friday on the Stacky Benjamin show. As Diana said earlier, I am Joe Sal Cahy, average Joe money on on Twitter and welcoming everybody here hanging out with us on the
1:46.7	fireside app as we make a live recording of the Stacking Benjamin show.
1:50.8	And our friend Doug, my mom's neighbor, has the day off today.
1:54.3	He's actually golfing, which is incredibly scary.
1:57.6	We're recording this in a day we normally don't record.
2:00.3	He's like, I got to go golfing.
2:01.6	We're like, fantastic. We can upgrade and we get Diana instead. So glad Diana's here, but let's meet the rest of the crew who's here with us. First of all, this guy sitting right across the card table from me. Mr. O.G. is here. What's shaking, bacon. How are you, man? Back. oh, people are clapping. That's fun.
2:18.2	Good. Back from vacation. We were in Florida for a week and then up in northern Michigan for a couple weeks and did the cannonball run.
2:25.3	I think that is brutal. But we did it all in one day. On the dot, listen to this. When we pulled out of the driveway in Hought Lake, we had the, everybody had to guess what time we were going to arrive before we put it in the GPS.
2:38.5	We had guesses of 2am, 1.15. Caroline said midnight. I said 1115 on the money. And we pulled in the garage 1115.
	...

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