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The Irony of Being A FLP (Frugal Little Pig)

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  • The Irony of Being A FLP (Frugal Little Pig)

    Are you a frugal little pig? Do you save aggressively, invest aggressively, read redundant financial blogs and forums sites?

    You do these things due to a desire to build wealth.. partially it is assumed, in order to spend more in the future.

    However I think spending tends to have a "set point" kind of like a set point for your weight. Frugal people will probably retain their frugal habits as their assets increase. Spenders will probably remain spenders as time goes on as well regardless of their financial station in life.

    Just as it is hard for people to dial back on their lifestyle, it is equally unlikely I think that people will materially increase their spending, as they grow wealthier. (One of the many ironies of money)

    some examples, our hospital provides food for on call overnight physicians, this food rarely goes consumed, (there is absolutely nothing wrong with the food, it's actually pretty good) so fatlittlepig will eat this food for lunch. it's not like since fatlittlepig has built up more assets, so i will let this food go to waste and start going out to restaurants for lunch. recently fatlittlepig's car battery died, so battery was yanked out and hauled to costco for a replacement then reinstalled. it's not like i'm going to pay someone to do it when it's fairly straightforward. Fatlittlepig still mows his own lawn and cuts his own hair (the latter not due to cost-savings but more due to convenience) etc etc.

    Have you ever seen any examples otherwise?

  • #2
    While some things stay set (I do my own taxes and cut my own lawn and my wife cuts my hair) we've certainly had no trouble at all spending A LOT more on vacations, home renovations, vehicles, and boats as our income has grown. While I like to think those trends will slow and level out eventually, I'm not entirely convinced they will.
    Helping those who wear the white coat get a fair shake on Wall Street since 2011


    • #3
      Well, as I too consume free food in the lounge I'll know how to identify FLP now:


      • #4
        Food too. We spend a lot more on food.
        Helping those who wear the white coat get a fair shake on Wall Street since 2011


        • #5

          Well, as I too consume free food in the lounge I’ll know how to identify FLP now
          Click to expand...

          Please don’t burst my bubble, even though I love ES. He can not be representative of our iconic FLP!
          Financial planning, investment management and CPA services for medical and high-income professionals | 270-247-6087


          • #6
            Only two people I know who cut their own hair, provided cutting doesn’t mean shaving bald.


            • #7
              "cut my own lawn"

              Hobby, huh? No way that is worth your time. Old habits...


              • #8
                Behaviors like you describe above are commonplace among conscious value-minded folk.  People will spend on what they truly value ~ particularly when paying cash money.  As they move closer to financial independence, they tend to purchase far more items that appreciate then depreciate.  JMO


                • #9
                  I'm way worse at spending money on myself new at 38 with a 7 figure NW than I was when I was a new attending and engaged.

                  I've created a guilt free spending account and put some money into it by auto draft each month. My wife has one too.

                  I think as I meet more goals I will just increase the amount of money going into that account.


                  • #10

                    Only two people I know who cut their own hair, provided cutting doesn’t mean shaving bald.
                    Click to expand...

                    I also cut my own hair, have since about the fifth grade. Its now difficult to have someone else do it, very convenient, but I often have to touch it up at home. It does make a bit of mess that my wife doesnt like at all, since she says I do a bad job of cleaning it up.

                    Dont cut my own lawn, just not any fun, well I guess it could be with one of those riding things but I dont.


                    • #11
                      We've slowly gotten rid of things we don't like to do. House cleaning and lawn mowing frees up so much valuable time on the weekends for a few hundred bucks a month. We're not going back. Now I can golf every week. I'll gladly work an extra year or two ago I can live a life of playing golf and not mowing or scrubbing bathrooms.


                      • #12
                        I will scrub a bathroom over playing golf any day of the week.


                        • #13
                          Total spending has gone up a ton in the last five years.  Interestingly, I’m just as tight with small daily decisions that honestly don’t matter, but can spend large amounts much more freely than I once did.


                          I honestly think though it has more to do with a dramatically larger income than it does a larger net worth.  We save a lot, pay a lot in taxes, and still have more money left over.  I was fairly tight with money that was hard to earn, no matter how much I had saved, but as earning money has gotten easier, I value it less and spend it more freely.


                          Does that feel similar WCI?


                          PS.  Last paid a barber in 2006, thanks to early onset male pattern baldness and the Gillette company.  Never paid for lawn till 2012, haven’t mowed since 2012.


                          PPS.  He post from a Hawaiian AirBnB waiting for his kids to get ready for the luau.


                          • #14
                            I totally paid AAA to come replace my car battery last time. Cost $10 more than what I was going to get at Firestone.

                            When I was in residency I did replace my own battery.

                            The value of money.


                            • #15
                              Sure. It’s to the tune of old habits die hard....
                              I’m similar to WCI....few things have been “upgraded” but many areas I just can’t justify or just stick to the usual state of affairs when we had zilch.
                              Some things I won’t spend extra money even though I have it
                              1) I grocery shop “low end”. A jar of pickles from Whole Foods doesn’t do it for me....actually I’ve been canning and pickling my own. I make them super super super spicy
                              2) Rental cars. Always cheapest car. Fill my own gas
                              3) I actually like cheap wine. 2 buck chuck is my go to...
                              4) husband cuts his own hair. Yeah. I make up for it