Calling tight arses

My definition is quite the opposite. A tightass is one that spends money on themselves and are selfish. However when it comes to helping others or contributing as a group, they cry poor and don't help in any way.

Example, buying a flashy car, holidaying in expensive places, buying expensive clothes. Then when at a group function, everyone chips in equally, they start complaining that they didn't eat/drink that much.

Or if they know they did eat/drink more than most others, they would jump on and complain when people didn't split the bill equally.

 

Nonsense. This is merely justification for a scarcity mentality. I used to be the same, watching every dollar, sacrificing, etc and strutting around like **** of the walk, thinking I was great.

Then I came across a completely different concept. Which is this: there is always a ceiling on how much you can save, but there is no limit to how much income you can earn. Having long term investment goals is noble, but sacrificing your lifestyle today in the hope that you might achieve financial independence at some point decades away from now makes no sense. Can't go get a take away coffee, gotta save that three bucks!

Instead of pinching pennies, look for ways that you can increase your income today to simultaneously meet your lifestyle and financial goals right now.

 

No she is a tight ****...if you lookup the word...there will be photo of her next to the word.

 

Some good and some over the top stuff here: http://www.mrmoneymustache.com/

 

Well I consider this type of person a nasty piece of work, and basically mean, narcissistic, that's a long word for this hour in the morning.

MTR

 

Don't hold back, I am glad you said that and not me....LOL

 

this is one of those sayings that i dont entirely agree with.

of course looking after the pennies will help with the pounds but to what extent? how many multi millionaires out there did it by doing their best to save $1 on every loaf of bread they bought instead of focusing on making more money?

i think it's important to do both but in particular focus on the big ticket items.

 

good post

 

Being a tight arse is relevant to your financial position initially, and/or your level of financial intelligence/education second..

For example; when I was younger, I was mostly broke, so spent little on anything, and bought cheapo stuff all the time when able.

Then, I got my first taste of the good dollars, but with little financial intelligence and/or education, so I wasted a lot of money and bought no assets. Thankfully; saved enough for a PPoR deposit and bought one.

Then I got the education, but lost the good dollars income. This is where the tight-arse mindset kicks in due to the financial education, and from here was when the wealth accelerated much faster.

The hard part is to turn off the tight arse mindset. We got back to a good dollars position briefly not too many years ago, and I found it difficult to stop looking at saving money (being tight) - wouldn't shout myself a take-away coffee etc.

Now we've lost the good dollars again, so the tight arse mindset is back.

 

Tight arse not really
Better Money manager, For sure!

 

I have a problem paying full retail for items and I really enjoy buying quality stuff secondhand, but this is the way I was brought up as a kid with my Mum being an antique dealer. Totally agree with the hair cut thing though, I absolutely hate paying more than $15 for a #2 buzz cut!

 

I think the tight-arse mentality is necessary - when you are low-income/broke in order to maximise limited dollars available for better purposes -ie; investing.

If you could gather up everyone in Aus who is on less than average income, and get them to tight-arse their way to say; 15% more of their income free for investing and investing only - and then got them to take action with those funds - imagine how much better off everyone would be.

 

Is George Columbaris (Masterchef??) a Tightarse because he sends his kids to Mickey D's with real food rather than paying for carp? (I totally agree with him BTW).

 

Agree with nek - tight ass and tightwad are being confused.
Good on you Steve and spludgey for knowing how to save a buck and invest the rest.In the nineties (and prior) this was perfectly normal. It's great for me to be reminded that it's not so difficult to live like this even today and you can still eat well and be really healthy. Maybe I could give up work or at least cut down for a while if I wanted to. It's empowering and probably adds to longevity.
I think MTR hit the nail on the head about saving money where you can and getting luxuries when they're important to you. But only 20 years ago, most Australians didn't live like this because we weren't as wealthy as we are now. In the 70's a luxury was a swimming pool, a fur coat or a botle of French champagne.
However, have you materialistists come down in the last shower? Happiness 101 tells us that materialism doesn't bring happiness much less health. Wanting, wanting, wanting is not happiness. Neither is getting every thing you want. Come on, I know you've been brought up with the wisdom of the ages just like most people in the world. I am surprised at the attitudes some people have towards their friends who choose to live simpler lives.

 

Before you go off strutting around like the **** you said you are, I was referring to Steves initial "penny pinching" as that first step he took to look to increase his income by attaining a deposit on an IP.
From there he has gone on to create income producing property, just like you said we should do.
No-one was saying penny pinching ongoing is gonna make you rich.
But for the people who started with nothing, it's a way to get started.

heck, I ought to know. Came from nowhere regarding income to be financially secure and enjoying the fruits with some pleasures mixed in with some of MTR's "penny pinching' among ones regular suppliers of services etc.
This all after the initial bite down hard and suck it up razor cutting of ones lifestyle in the early couple years of high LVR's etc.

Agree, it's not the mindset to get rich, but it helps those who need to get priorities in order at the beginning, learn how to budget for investment. Once mastered, no need to be running around looking for higher paying wages.

 

Prefer to use the word frugal

 

There are tons of tight arses at Ozbargain ...

 

I'm still trying to express myself clearly on this, but I make a big distinction between different kinds of frugality.

There's what I'd call "sensible frugality":

• buying secondhand rather than new (where you're happy with secondhand, or it's all you can afford)
• buying from supplier X who are cheaper than supplier Y, where there's a significant differential
• making lunch at home most days rather than buying lunch every day
• buying no-name brands rather than brand names (where the quality of the no-names is "good enough" for you)
• shopping around for the best mortgage interest rate (provided you still get all the features that might save you money, e.g. offsets, security substitution, etc.)

And there's what I'd call "pointless frugality" (for the vast majority of Australians):

• driving out of your way to go to a different service station to save $1 or $2 on a tank of petrol
• skipping the monthly office social lunch out because you "always make your lunch"
• obsessing over turning off the lights and not using the clothes dryer to save on the electricity bill

Then there's what I'd call "mean-spirited frugality":

• trying to bargain down the price on goods and services from individual tradesmen and small businesses - this is effectively telling people "you aren't worth what you think you're worth". If you don't think it's a fair price, go elsewhere. If it is a fair price, then pay it.
• going out for a group meal, and if there's 10 in the group, wanting to pay less than 10% of the total bill because "I didn't have wine/lobster/whatever".

 

Need to take that to the next level and pick up other nozzels next to your pump and get the drops out of them too.