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Extreme cheapskates


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#1 Deerslayer

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Posted 16 October 2012 - 07:44 PM

I just finished watching the show extreme cheapskates. I thought I was watching it to get ideas, instead I was amazed at how much money they were wasting...

They showed a man who washes his paper plates and paper towels...we haven't had a paper product in this house for years

They showed a man who goes one week every six months without spending money, but he had to spend money the last day on food, I promise we could go years without spending money on food in this house!!!

They showed a woman who has cloth toilet paper. We have been a family cloth family for several years now

They showed a woman who bathes her kids in the same water, but the tub was full...we learned at an early age that you can get clean in a lot less water than that

A man who gets food off of other peoples plates at restaurants when the people are done. I thought that was disgusting, but why was he in a restaurant at all??.
A man who refills his ketchup bottles with the little packets, we have used those for years.
A man who dumpster dives, been there, done that.
A woman who dumpster dives for food,...totally gross if you ask me.
A man who barters for food in restaurants, once again, why is he in a restaurant at all?
A man who hasn't bought clothes in years.
A man who rides a bike everywhere and doesn't own a car.
A man who goes all over town looking for change on the ground


I know this probably goes along with the saving a penny thread, but what does your family do that might get you on this show???


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#2 Gunplumber

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Posted 17 October 2012 - 08:25 PM

When I started in business, I had more time than work. Now I have more work than time. It has made me rethink "thrift".

There is much to the saying "penny rich and pound poor." I used to use sandpaper - relatively expensive for a consumable - long past the point where it was worn out. Yet the labor cost in the extra time was more than what I'd have spent on buying new sandpaper, resulting in a net loss.

It is difficult for me to throw away a paint spraying gun, but it costs me $16 at Harbor Freight to buy a new one. It costs me $10 in solvent and an hour of labor to clean the old one. I'm way ahead throwing it away.

It all comes down to the cost of your labor - and most people don't assign a cost to their labor. If I was snowed in for a winter, the value of my labor might drop dramatically.

If one has work that needs doing so one hires a handyman, is it worth paying him to wash his dishes? If he's making as little as $10/hr. that's $1.66 for the 10 minutes it takes to wash and dry the dishes. Wouldn't it be more cost effective to use a $0.16 paper plate and throw it away?

I recently installed an irrigation system. Trenching would cost me 10-15 hours of hard work. Renting a trencher cost me $150 and took an hour round trip to pick it up and an hour to do the work. Then got me back in the shop where I could be making a lot more than $10/hr.

"Penny rich and pound poor" also applies to buying tools and equipment. Saving money up front, but having a higher operating cost, isn't really saving money at all. Particularly if when pushed, the equipment simply cannot do the job. I find the highest quality tools I can afford and then buy the next one up. After 20 years, they have long since paid for themselves.

There is a website I really liked on car buying because they factored in the operation and repair and registration costs of a vehicle over a 5 year period. This showed that the more expensive car actually was cheaper over 5 years than it's less expensive alternative that higher fuel and repair costs.

With most equipment, there is a fairly consistent cost/value line plotted on a graph, up to a point. At that point one starts paying much more for only marginal increases in performance. Computers are a good example. It might be worth buying the "best" if one is an IT professional and can actually use the equipment to the limits of its ability, but I probably use only 10% of what my computer could really do. So I want good quality, but I don't need Olympic performance or cost. On my tools, I do.

I run the same analysis on firearms. It doesn't matter what the gun itself costs, it matters what the gun, magazines, ammunition, and accessories cost amortized over a period of time. In this way I discovered that one of my more expensive rifles was actually cheaper over 5000 rounds than another similar rifle that cost half as much up front, but was more expensive to operate and maintain.

I have customers who are mediocre shooters but with respectable income who want the "best" and I admire that. I just think they'd spend their money more wisely on training that will allow them to obtain the best that their equipment has to offer. A person who can only shoot a 4" group is well served by a rifle that shoots 3" groups. There is no benefit to paying me a lot of money money to build one that consistantly can shoot sub 1" groups.

I am blessed to have more work than I can handle, and people willing to pay me well for it. I understand if I was unemployed, or a stay-at-home spouse, that my relative labor value would drop dramatically and it might suddenly be worth clipping coupons. Right now it isn't.

My friend just had to close his Auto Transmission shop. He has two children not yet in school. His wife makes good money as a radiation docimetrist. While he has had some other job offers, it would cost him 75% of his income to pay for child care, and put them in a higher tax bracket, which would actually reduce his wife's effective income. He's not happy with it (male ego and all that) but from a practical standpoint, for now he's Mr. Mom.

My point in this diatribe is simply that some people have tunnel vision or a psychological aversion to wasting anything, that makes their attempt at saving money actually cost them more than they imagine it saves.

Edited by Gunplumber, 17 October 2012 - 08:31 PM.

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#3 Amishway Homesteaders

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Posted 18 October 2012 - 08:17 AM

for us anyway - we look at what it costs to save money!
how much did the water cost to wash those paper plates?
how much did that guy wear out shoe leather walking around to find that nickle?
instead of 'cleaning' your kids in a tub full of dirty water - teach them to take a sponge bath in a bowl full of clean water!
going a week without buying food is dumb - because you had to buy the food you eat that week another week? plan to eat 'free food' instead (like from a garden).

So none of what they showed will save any money in the long run? :imoksmiley:
Turn off lights you don't need on.
don't run water down drain just to get it hot or cold.
Cook mor then 1 meal at a time and eat leftovers.
use leftovers to make soup or stews.
can we say CAN!
That is just a start...........................
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#4 Jeepers

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Posted 18 October 2012 - 11:07 PM

Gunplumber, my grandmother used to say, "penny wise - pound foolish."
Probably a British saying as in a 'pound' = currency.

You can't always get what you want, babe

But if you try sometimes, you just might find

You get what you need.

 

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#5 themartianchick

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Posted 19 October 2012 - 08:43 AM

Excellent post, Gunplumber!That is pretty much how I look at it. I assign a monetary value to my time...I have to because if I'm not saving more than I could be earning, then I've cost myself some cash. When it comes to car repairs, hubby is always cheaper than the shop, even if we have to rent a car in the meantime.A car repair in the winter? We send the car to the shop! It isn't worth risking frostbite, sickness and missing work. When you average it over the course of the year, we still come out ahead.If you were going to take a walk anyways and you found a quarter, then that's great! But to deliberately go out looking for quarters seems kind of silly, unless you know of a place where people frequently lose change due to some particular set of circumstances. When my mom was young, a man in the neighborhood had all sorts of model trains. The tracks actually ran outside in good weather and all of the kids would go to see them. The kids were always finding pennies on the ground due to something related to the train hobby. Finding a penny then wasn't a gamble, it was a given. Besides, a penny could buy a lot of candy back then. Since the kids didn't have jobs, they came out ahead all the way around!

#6 Gunplumber

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Posted 19 October 2012 - 09:12 AM

Gunplumber, my grandmother used to say, "penny wise - pound foolish."
Probably a British saying as in a 'pound' = currency.


Maybe people today are unaware of world and historic currencies, I assumed it was common knowledge.

half-penny, penny, two-penny, shilliings, pounds sterling etc. British penny in the colonies was 1/2 gram. Pence was 1 oz. pound was a pound - british pound (or quid). 240 penny = 20 shillings (12 per) = 1 pound

Edited by Gunplumber, 19 October 2012 - 09:24 AM.

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#7 kathy003

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Posted 21 October 2012 - 12:02 AM

well, that review was disappointing. I had hoped to watch the show but forgot when it was on, and it sounds like i couldn't learn much.

I swear, someone on this site needs a tv show to show how it is really done!

#8 lumabean

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Posted 24 October 2012 - 10:52 AM

There were two new episodes on last night -- not my best use of an hour :scratchhead:

The producers of the show seem to have a fixation with dumpster eating -- ick. The one episode had a modest living millionaire who peed in a jar (and then used it in her compost -- not sure if that's as icky to others as that is to me, but I digress...) and fed her boyfriend, son, daughter-in-law and little grandson stuff she got out of the dumpster and also some she foraged for (her son made some sort of comment about his getting diarrhea is worth making his mom happy ... eh, all I thought was what about that poor little grandson, illnesses always seem worse for kids). The other had an accountant who washes clothes in the shower, gets her food from the dumpster (and fed it to her friend and his girlfriend), a guy who showered with his clothes on so he didn't have to do laundry (and kept the tags on clothes to return when he was done wearing them ... I'd think that would have to classify as some sort of retail theft in some degree, but maybe not, creepy regardless..). Oh, and a guy who haggles prices down and a woman who cooks roadkill (and uses the fur for craft projects).

They're definitely going for the bizarre factor -- I thought the new season would yield at least some useful tips ... I was wrong.


#9 mommato3boys

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Posted 24 October 2012 - 03:31 PM

Hum I guess I will stick to unpacking my boxes and cooking dinners from scratch.
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#10 gofish

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Posted 24 October 2012 - 04:02 PM

This is my all time favorite cheapskate.

http://en.wikipedia....iki/Hetty_Green

#11 Deerslayer

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Posted 24 October 2012 - 07:44 PM

1351112544[/url]' post='391012']
This is my all time favorite cheapskate.

http://en.wikipedia....iki/Hetty_Green


I had never heard of her, how interesting!!!Posted Image


The answer to "1984" is 1776

WW 2 could have been avoided by the bravery of one good man with a good rifle


Just because I'm paranoid, doesn't mean they are not out to get me.

#12 Momo

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Posted 25 October 2012 - 04:10 PM

These folks are EXTREME.
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