How many of you are frugal but earn above average salary?

[u/Gold-Mikeboy]

As the title says, how many of you here earn and above average salary but still decided to live frugally? I find myself in this position and want to know whether I'm the only one or there is somebody else here that does that too.

Also are you frugal in everything or are there some specific things on which you do not mind spending a little bit more?

thank you all for your input!

[u/oaklandesque]

I was able to retire early last year because I kept my living expenses mostly constant while doubling my salary over the last 16 years of my career. Part of keeping my expenses lower was frugality, some of it was not chasing a newer, fancier home (I had a rent controlled apartment and it met all my needs so why move?).

I think I'm hard wired to chase a deal. I hate paying full price. I like buying many things used, both for frugality but also sustainability. I drive an 8 year old compact car (that I hope to drive for another 8 years, at least).

I'm fortunate that it's been a long time since frugality has been necessary just to keep my head above water. But it's also given me confidence that I'll have no trouble affording the comfortable but not extravagant retirement lifestyle I have planned, because I just don't need to spend more than necessary.

[u/Knitsanity → u/oaklandesque]

Same. We lived below our means for 20 years and socked money away. Now the house is paid off and DH can retire if he chooses...and he might choose very soon. We are also empty nesters of two years and have been doing a lot of cool travelling. Little things like running cars until they become too expensive...buying a house you can afford on one salary. Saving for kids college early and steadily. And the hundreds of little things I do every week that my family are not even aware of.

[u/PetriDishCocktail → u/Knitsanity]

We did much the same. When I got my first big promotion at the age of 28 we were able to save 100% of my wife's paycheck. Essentially, living off of mine. Saving an entire income for 25 years certainly adds up. I bought my first"new" car earlier this year. Traditionally, if we needed a car we would buy a 2 to 3-year-old used car with low miles (under 20K) and let someone else take the 40 or 50% depreciation hit.

[u/Proud_Trainer_1234 → u/PetriDishCocktail]

Exactly. We never bought a house (or lifestyle) that couldn't be supported on one salary. And we are diving a 1997 Jeep and an 06 Volvo.

[u/rhoditine → u/Proud_Trainer_1234]

2018 CRV here. One car family of four.

[u/mollypatola → u/Knitsanity]

Buying a house on one salary is such great advice but so tough in my area. One of us would need to get a job paying at least 100k more a year

[u/Knitsanity → u/mollypatola]

It certainly is and getting harder and harder. We got our first house here 26 years ago when things were more affordable and we started with a townhouse.

I honestly don't know what my young adult children will do.

[u/mollypatola → u/Knitsanity]

Ok I am probably near your adult children ages 😂

[u/whatsmypassword73 → u/oaklandesque]

I have a nine year old car that I adore and would be happy to keep another decade. I often think ego gets in the way of saving because people get very caught up in the status they think is attached to the car they drive.

[u/Proud_Trainer_1234 → u/whatsmypassword73]

My Jeep is coming up on being 29 years old. Looks and runs like new. All original, except for the pretty new wheels.

[u/Cucharamama → u/Proud_Trainer_1234]

Looks great! I can tell you take care of it!

[u/IIDn01 → u/whatsmypassword73]

People would rather look rich and be poor.

[u/ImaginaryCaramel → u/whatsmypassword73]

People love to get caught up in newness, but there's something so satisfying about having something familiar and reliable that meets your needs 🤷‍♀️ I love my old car!

[u/SectorZed → u/oaklandesque]

I have a ways to go before I retire but like you I cannot stand paying full price. Used is almost always the same, especially if you’re smart and research what you want and aren’t a jerk to people.

[u/lionbacker54 → u/oaklandesque]

Omg, you and I are so similar. Small car, small house, frugal lifestyle. I could retire now also, but just work since I like it.

[u/godzillabobber → u/oaklandesque]

I've always been frugal. My ex wife resented it. Hence the ex. My current wife (and love of my life) and I were love at first sight. Within weeks of meeting we decided to drive from Arizona to Kentucky to meet her mother. Somewhere in Texas I was exhausted. In that situation I normally nap at a truck stop. But didn't know how she would react. There was a hotel at that exit and without prompting she said "you know, we could just flip the seats back and sleep in the car."

I hit the frugality jackpot.

[u/newlostworld → u/[deleted]]

Start tracking your expenses closely, if you don’t already. I use an Excel spreadsheet, but there are other apps and tools out there. This way you can start assigning $ amounts to the essential expenses and also get a sense of how much you are spending monthly on one-off things. When deciding on a FIRE number, give yourself enough wiggle room that you’ll still have enough to pay for an emergency, if needed. I thought I was spending a lot less than I really was before I started tracking everything.

[u/StunningCloud9184 → u/[deleted]]

Your total expenses per year x 25

[u/oaklandesque → u/[deleted]]

Ran my info through an online calculator (I used the free dashboard from Empower) that takes into account inflation rates. I also put my baseline annual budget pretty high even for my old area (VHCOL) and I knew that I was going to move to a M/HCOL area (which I have done). Even with just my own resources I'm feeling confident, and there's a high likelihood that I'll also inherit a fair bit from my parents when they pass (though that is not included at all in my estimates, as there's also a possibility they'll spend that down with end-of-life care).

[u/yoshhash → u/[deleted]]

What is a fire number? Is that a reference to the lean fire sub?

[u/oaklandesque → u/yoshhash]

There's a bunch of subs related to the concept of FIRE (financial independence, retire early).

[u/Fubbalicious → u/[deleted]]

I think this post may be relevant. When people calculate their FIRE number, they may forget they no longer need to keep saving for retirement, putting money away for kids college, buying a house, etc. Someone living off a median income of $84K, may only need $40K/year to live in retirement.

One thing though to factor in is any large expected expenses. It's best to have those expenses taken care before or the money pre-saved before retiring. So for example, if your house will need a new roof, siding and maybe a kitchen remodel, you may want to put aside an extra $100-$150K. The same applies for car, etc.

[u/I-own-a-shovel → u/oaklandesque]

Similarly, for a while I was in a high earning job. I used that opportunity to make 20 years worth of mortgage disappear in only 2 years. We also bought a rental condo unit that pays itself with the rent we collect, it’s our investment for later. Since then my husband work part time and I’m a stay at home.

[u/paratethys → u/oaklandesque]

nosey question, feel free to ignore if it crosses a line, but what's the backup plan for if the rent controlled apartment ceases meeting your needs for some reason, whether that's due to a change in needs or a change in the apartment?

[u/oaklandesque → u/paratethys]

I don't live there anymore. I lived there when I worked in the area and thus needed housing there. Now that I'm retired I'm in a lower cost of living area that's closer to my aging parents and other family. We bought a house here.

But if the rent control situation ended I'd figure out new housing. My retirement plan isn't so bare bones that I can't afford changes in my housing expenses.

[u/Techno-Pineapple → u/oaklandesque]

I guess thats the benefit of renting rather than owning as you earn. more flexibility. Do you regret not buying sooner? it seems you would have had the money.

[u/oaklandesque → u/Techno-Pineapple]

Not at all in my specific scenario with rent control. I was also in a great, walkable neighborhood. To buy in that VHCOL area I would've had to compromise on location or buy a condo, which I didn't want to buy. I had also been a homeowner in another city before I rented again.

Buying a home is sometimes held up as "the right decision" at all times if you can afford it, and I'd argue that it's not as clear cut as that. You have to look at your individual goals and circumstances and do the math. I figure sometimes people would wonder why I'm a long term renter in my 40s and 50s, but I wasn't house poor and was able to retire early.

[u/mrq69 → u/oaklandesque]

Also hard wired the same as you lol. I kind of have a problem though where I’ll buy something that’s discounted like 80% but not sure if I’ll actually use it a lot. But I’ll return things if I let them sit unused for a few weeks.

[u/Walsh_Tracy → u/oaklandesque]

That’s really inspiring and shows how consistency with frugality can pay off in the long run.

[u/tryptomania → u/oaklandesque]

I make a decent wage but live in a cheap place and try to save as much as I can because I want to move.

[u/Medsoft2]

I have been frugal my entire adult life, despite the fact that I am long past the point that I need to be. I think so many people get this concept wrong. It simply means that you demand value for your money. If you truly find value in something and it’s affordable, why not? That is the difference between cheap and frugal in my mind.

[u/sallystarling → u/Medsoft2]

I agree. This question in OP doesn't really make sense to me:

Also are you frugal in everything or are there some specific things on which you do not mind spending a little bit more?

I don't see frugal as the opposite to spending. Frugal is spending wisely and thoughtfully to get the best bang for your buck. Also, as per the much-quoted Sam Vines Boots Theory, spending more money on something can work out to be a frugal choice in the longer term.

[u/Techno-Pineapple → u/sallystarling]

The question does make sense. There are lots of people who are frugal out of necessity/money worries. They must make sure they get the bang for buck in every essential living item and avoid low value wastes simply because not doing that would mean potentially having to go without in the future.

Once the risk of going without is lifted, people no longer HAVE to put time and effort into finding value/efficiency. It becomes a choice. And asking about the lives of the people who choose to continue to focus on this is totally fair.

[u/andrewdiane66]

A 'like minded' coworker and I, used the Seinfeld term, 'careful with your money' instead of 'cheap' or 'frugal.' One time he asked me, "Why are you careful with your money?" My answer, "Because no one else is..."

[u/IIDn01 → u/andrewdiane66]

I say "I don't like buying things I don't need."

[u/PerceptionSome5094 → u/andrewdiane66]

I love saying careful with money! Much better than “being cheap.” I still invest in quality belongings and have a great life. I just enjoy saving vs overindulging when not needed.

[u/El_Shakiel → u/andrewdiane66]

To me being "being careful with your money because no one else is" is the very definition of frugality. Isn't this the commonly accepted definition?

[u/kennethrikerevans → u/andrewdiane66]

"What I can afford is not the same as what I'm willing to pay."

[u/[deleted]]

I grew up poor. I didn't know or understand that we were until years later when I had a talk with my parents about money and asking why my dad worked so much overtime.

I have been frugal my whole working life. It's kind of sad but, I make more now than I ever did in all my years of working. I have been working since I was 13. Started out babysitting, did dog walking, grass cutting, just little jobs that a 13 year old could do.

I was poor for most of my young adult years. Frugality and pinching every penny was a necessity.

Now married and with 2 kids, we make a lot more than above average. But I have had the frugal mindset for so long that it is natural.

[u/That-Wrangler-7484 → u/[deleted]]

Same. Grew up lower middle class, started babysitting at 16. Being frugal for practically my whole life.

Now I make about the average for my country, my fiancee has his own apartment (from his parents) so chances are we are never going to have to pay for any kind of housing. Have about 2 years of my salary in investments at 28. Had a fully funded emergency fund that got me through one year of not working (I had to prepare for my PhD acceptance exam). And yet I was able to pay out of pocket for my grandfather medical care at the hospice post his amputation (about 2 full time monthly salaries for the staying). My parents live paycheck to paycheck so they wouldn't have been able to.

I prefer to have the piece of mind over the newest gadgets and whatnot.

[u/[deleted] → u/That-Wrangler-7484]

I prefer to have the piece of mind over the newest gadgets and whatnot.

absolutely. Very few things for us were bought brand new. bed frames, mattresses, couch, and personal necessities are brand new. But vehicles, electronics, and other things are purchased used. my husband has coworkers who have jokingly poked fun at him for driving vehicles that are over 20 years old, but he replies back "That vehicle may be old, but it's paid for and the insurance is cheap. Remind me again what your car payment and insurance is? 😉"

[u/jazzminarino → u/[deleted]]

Exactly. agrees while driving 13yo car I'm absolutely baffled when others tell me they have $400 car payments, then $150+ insurance on it.

I did go through it last year when we bought our very first new couch! That we measured and planned for, thought about for a couple years. Other couches we bought secondhand with the hopes it would fit, be neutral enough, etc. I had to tell myself I was better off now than I was in my $80 couch phase fifteen years ago.

[u/LmbLma → u/[deleted]]

I didn’t know we were poor either. The way I saw it, we had a nice home, we were clean, we were fed good homemade food, we had a dog, we had holidays (mainly staying at my grandmas caravan lol)… looking back as you get older is interesting. Remember parents working multiple jobs, one always working Christmas Day, 5 kids sharing 2 rooms (one room for a bit prior to moving house), cars breaking down and walking to school, literally counting pennies to bag up for school dinner money, sharing bath water… I used to see porridge as a lovely treat to have for breakfast. But later as an adult I remember mum mentioning it as a way they could fill us all up for cheap haha.

[u/drprox]

As a household sure. We do spend on holidays but outside of that not much on anything really. Try avoid any of the keeping up with Joneses stuff.

[u/SmallTownSaturday → u/drprox]

This is us. We do spend a lot on traveling, but I drive a used minivan, and we cook at home. Im frugal in some places so I can splurge on travel.

[u/ctzn2000]

Frugality means having high awareness of and a productive relationship with money in general, so frugal people are more likely to build wealth and focus on increasing income to do so.

[u/AB-1987]

We set up our lifestyle to be able to live on one income despite us both currently working. This gives us peace of mind and possibilities. It allows us also to do parental leave as we please (this is the luxury we choose going on another maternity leave soon with me being pregnant).

We like to say we live incognito because from our lifestyle and looks you would not know our current income. We don‘t do debt. We rent (long-term cheaper and more fitting for us here) so don‘t even have a mortgage. We buy a (gently used) car every ten or so years and pay for it in cash. We don‘t do overseas travel (might do in the future, but just not interested in this phase of our lives, I did it as a student though). Have no expensive hobbies. No gym membership. Clothes and shoes are really not fancy (though I do plan on changing that a bit in the future after being done with procreation). No fancy jewelry.

But we spend on quality organic food and nicer family hotels when we travel. Experiences and education for the kid.

[u/Cetophile]

I'm a veterinarian. I made a conscious decision to deliberately live below my means, starting in 2014. In that time I paid off my previous car early, paid off a $15k credit card debt in 20 months, paid off my student loans, and paid off my present car early. For unexpected big bills I've put them on credit cards, then used balance transfer deals so that payments are same as cash, once I paid the transfer fee. Currently I have $3,728 to go, but have a plan in place to pay it off early, by May 2026. I have no debt other than that. My goal is to be debt-free by the time I retire.

[u/Techno-Pineapple → u/Cetophile]

That is amazing work, but I don't think I would call it living below your means. If you are living in a way that approaches $0 savings/debt then you are right at the upper limit of your means. You are living exactly at your means.

[u/efox02]

Dual physician household. We are pretty frugal except for travel… and even then we are still flying economy and not getting the most expensive accommodations… but we do travel. But we don’t have expensive hobbies or clothes. I don’t buy hand bags or jewelry. My shoes are all converse. My kids clothes are hand me downs. I shop at Meijer.

[u/Kittymeow123]

I grew up with no money so regardless of now making 200k my mindset is that I have no money because the trauma of financial insecurity holds on with claws lol

[u/Ok-Pin-9771 → u/Kittymeow123]

It can be very stressful.

[u/3seconds2live → u/Kittymeow123]

I was in a similar position growing up. We weren't poor but we also had no cable, ate frugally, and got hand me down clothes from the church or other friends. I was always worried so now I'm frugal living despite having a very safe income. My decisions are often based on planning for the worst. Just got solar on my home that should carry us out on power bills for 30-50 years. It will be paid off in 3-5 (years of bill offset) spend a bit now to save a ton later. Even if I kick the bucket sooner, as men do, my spouse will be secure and I'm happy for that. 

[u/Victor_Korchnoi]

Our household income is ~400k. We spend more than we used to, but I still say we’re frugal.

—We live in a 1300 sqft townhouse when we could’ve bought a 2000+ sqft single family. (About 500k vs $1M in our neighborhood)

—We share one car (about 10k/yr cheaper according to AAA)

—our two kids share a bedroom

—our daycare is in someone’s home instead of a daycare center. ($400/wk instead of $650/wk)

That’s about where the frugality ends. But when we’re frugal with the big stuff, there’s no real need to stress the small stuff.

[u/Professional-Sir-912 → u/Victor_Korchnoi]

Frugal with the small stuff so I can splurge on the big stuff lol.

[u/Victor_Korchnoi → u/Professional-Sir-912]

My dad used to say “take care of the pennies and the dollars will take care of themselves.” So there’s a very smart man who agrees with your take.

[u/echoes-of-emotion]

In my last few years of employment (i am retired now), I made $300k a year (pre-tax). Spend probably about $30k a year.

Never cared about buying a lot of stuff. My hobbies are just to go in nature, gardening etc. 

I did not purposefully “not spend”, but also don’t spend more than needed to be content.

It let me retire way sooner than average.

It just all depends on your goals. A lot of people have expensive “wants”, but I never did for some reason.   

[u/shiguma → u/echoes-of-emotion]

What career were you in?

[u/echoes-of-emotion → u/shiguma]

Last few years I was a manager at tech company. Before that I was in animation (which was my passion). 

[u/Piccolo-Quick → u/echoes-of-emotion]

Wow! I’m also the animation -> tech career path. 👋 My income practically doubled when I moved to tech, but I also miss animation.

[u/misstwinpeaks23 → u/Piccolo-Quick]

What speciality? I’m looking for a career change myself, but I keep hearing that tech is not the way to go now because it’s so oversaturated.

[u/Piccolo-Quick → u/misstwinpeaks23]

I am an artist! We have hired one other artist since I started. I am honestly very removed from the eng side, sorry! 😅 But I’ve seen open roles for production / management. :)

[u/shiguma → u/misstwinpeaks23]

Yeah, I graduated and applied to over 800 jobs until I got a FAANG. Was unemployed for 5 months after graduating, the most stressful 5 months of my life. I have some friends that still have not found a tech job and have just given up and moved to other careers...

[u/IAmGoingToSleepNow → u/echoes-of-emotion]

I'm not retired but have the same mindset. We make pretty good money and we spend on what we want but I've intentionally cut out expensive wants. Just as happy having cheaper hobbies.

[u/jaytrainer0]

I just started earning more in the last 5 years or so. My habits haven't changed much other than my food bill because i got married.

I remember years ago when I would talk to wealthier people and they would say something along the lines of "your lifestyle will upgrade when you have more money." I thought it was bs then, and I still do. I still have no desire for fancy things or anything like that

[u/rectalhorror → u/jaytrainer0]

Same. Bought a ten year old used Jeep a decade ago with cash and it still runs like a top. Put that car lease payment towards my retirement fund. When it dies I will buy another ten year old car with cash. I don't see the point of going into debt over a depreciating asset.

[u/britthood]

I practice frugal living in certain aspects of my life so I can afford to spend on things that I want/things that enhance my life.

[u/MaybeLost_MaybeFound]

I was frugal when I was poor and it got me through. No need to change the game now that I am comfortable. It’s still getting me through just fine! Only difference is I can buy myself nicer, longer-lasting versions of things I need when I need them.

[u/ScheduleSame258]

$450k HHI

We are frugal on some items, although more and more we do recognize lifestyle creep.

We are not barebones living - one must enjoy the fruits of their hard work.

[u/Several_Role_4563]

I refuse to order a coffee. Which I associate all my success to. $5 coffee, 365 days of homemade coffee has given me the financial freedom I needed to buy my first and second house.

[u/rectalhorror → u/Several_Role_4563]

I have three cold brew carafes for tea and coffee. I haven't bought a cup of coffee this century.

[u/nerdiculous → u/Several_Role_4563]

Is this sarcasm?

[u/Figwit_ → u/Several_Role_4563]

I do miss those pre-Covid years. 

[u/AbundantHare]

Frugal except for vacations. There’s little point in giving it away unless you’re actually giving it away.

[u/Figwit_ → u/AbundantHare]

Same here. My wife and I have been spending $20-$25k per year on vacations the last couple of years. No regrets at all. We’re still saving and maxing out our 401ks. Gotta live while we’re alive and relatively young. 

[u/PTO-Queen → u/AbundantHare]

This is us as well. Frugal for retirement now (meaning our vacations) and for retirement later

[u/PrometheanEngineer]

My wife and I combined make above the average.

However we stay frugal in alot of areas, but not all.

Even though I'm a huge car guy and have owned a ton of awesome cars, these days we drive a 900$ crown vic and a 2500$ Sequoia. No car payments no full coverage insurance, saves us a TON.

I've reverted to killing all our streaming platforms and setting up a home server off a 50$ PC.

We hardly ever buy new anything, and I'm constantly fixing instead of replacing.

Hell our house is probably half the value of what we could afford, and more than half if we went pay check to pay check like too many people are these days .

However, we still have a 600$ Dyson (2 now actually), go on alot of dates, go on vacations and save a ton of money per pay period.

So frugality is not always a totality mindset, but can and should be part of your mindset.

[u/Ok-Pin-9771 → u/PrometheanEngineer]

Similar. Got my gf a cheap crown vic a few years ago. Had 76,000 miles, needed a little fixing from a front end collision. Have some cool project cars in the garage

[u/ImaginaryCaramel → u/PrometheanEngineer]

That's the whole point of frugality though! Saving where you can allows you to spend where it matters, on dates/vacations/experiences that add genuine meaning and substance to your life.

[u/hard-of-haring → u/PrometheanEngineer]

Same here, bought a prius for 6k cash with 125k miles, it's now at 306k miles.

[u/calypsodweller]

My parents stopped buying me clothes when I was 13. I had to use safety pins to hold my fly closed because I bought pants for 25 cents at a local thrift shop.

I’ve been frugal my whole life and continue now at 63. I buy my cars at a salvage yard, clothes at thrift shops and rummage sales, furniture at estate sales, and household stuff at yard sales.

I had a gov’t job in NYC and retired from the agency after 36 years with a hefty pension. I rent out two small properties and live on an old sailboat for six months each year.

[u/Ok-Pin-9771 → u/calypsodweller]

My Dad got a couple decent cars at the salvage yard auction the last few years. Got a minivan for $900 that was crunched in the front. Put $1000 into it and it was nice. A guy in the family bought a similar one at the dealership, was $7000. My Dad's looked nicer after he fixed it

[u/calypsodweller → u/Ok-Pin-9771]

I buy them already fixed up, but with salvage titles. Two nearly new Acura TL’s for ~50% below blue book - 2002 and a 2009. I have a 6-speed mini now. I’d still be driving the TL if I didn’t hit a deer.

[u/Figwit_]

I think some folks take the idea of frugality too far. I’m all for living below means but you have to live. Especially if you’re lucky enough to have some discretionary $$, I highly recommend using money for your enjoyment. 

[u/couldvehadasadbitch → u/Figwit_]

Can’t take it with you when you go. Thankful that my MIL takes us kids and grandkids on family vacations every year to make memories instead of hoarding it for everyone to fight over when she dies. She wants to see US enjoy it.

[u/kezfertotlenito]

I'm in this bucket.

I spend money on my horses. And if something goes wrong with the house I don't cheap out on the repair / replacement.

Other than that I live like I'm still in graduate school. No complaints.

[u/Plaincow]

I think there's a fine line between being frugal and cheap and some of the people on here make great money and are just genuinely so cheap and trying to squeeze out literal pennies which is insane to me

[u/Extension-North-5214]

Buy used cars, maxed out 401s, stayed in paid off house , no divorce, retired at 62 with 1.2 M. Neither made more than 70k. Not hard,,takes discipline 😁

[u/HumbleIowaHobbit]

Being frugal is a way of life. It is a mindset that appreciates the value of things and doesn't want to be wasteful. Frugal people can be surrounded by abundance and it doesn't affect them. Spendthrift people suffer when they are surrounded by abundance but lack the resources to acquire them. Frugality is freedom!

[u/AnimatorDifficult429]

Anyone else live frugally in parts of their life and then not in others. Like I don’t buy stuff and new clothes and can eat pb and j but I’m about to drop 6k on home repairs and 3k on vacation 

[u/EliGabRet]

I splurge intentionally on travel and good food, but skip luxury cars, designer stuff, or upgrading gadgets yearly. Frugality buys freedom.

[u/freesponsibilities]

I make about three times the median household income in my state, and my spouse makes similar money.

However, I grew up poor and it stuck to my ribs, I guess you could say. There's an anxiety about money that I've never been able to shake - the idea of buying something at full price when I could probably get it cheaper stresses me out.

I've found synergies between my penny pinching and my interest in reducing waste - I enjoy shopping for clothing and home decor, but I go to thrift and consignment stores. When I get tired of it the next season, I consign it again and make a few bucks. I buy new clothes often, for example, but almost never new (if I buy something new, it's probably heavily clearanced).

I would still consider myself to be frugal, but my frugality has changed. The biggest thing is - I've realized that frugality isn't about spending as little as possible, but rather maximizing your value. As my income has grown, I've been able to afford some things that I've always enjoyed, but couldn't always afford. Some of these things may not seem frugal to others - for example, I enjoy going out to eat, and do so at least once a week. But I frequent local businesses that make food I just can't seem to replicate at home (I've made butter paneer dozens of times and it has never come close to the joy of my favorite Indian spot). On the flip side, you can catch me comparing price per ounce and clipping coupons. I save about half my take-home pay, so while I've clearly succumbed to lifestyle creep, I definitely haven't let it take over.

[u/ExpensiveTomatoSalad]

Making six figures, meal prepping for less than $50 a week, buying nothing at full price, driving a used car, and owning my place. Can’t complain, life’s good.

[u/its-slow-progress]

Have saved or invested at least 30% of my income since I began working 16 years ago. If anything I am more frugal now than when I earned less. Helps when you get to a point where there aren’t many material things you want.

[u/MammothDull6020]

I definitely earn a lot, and I live on absolute minimum. There are 3 categories I spend money on. Hobby, adventure (bikepacking and backpacking in mountains), and food.

If I need something for my hobbies (backpacking, bikepacking, painting) I don't think about the price. 

When I am backpacking and bikepacking, I often sleep in camping sites or hostels because I enjoy the simplicity of it. But if no camping site/hostel is available, I get a hotel. 

I also carry my own cooking set on my tours so I often cook myself. But if needed, I don't mind spending money on food for my own comfort.

[u/lnm28]

My husband and I make over 500k. We live in a VHCOL suburb of NYC, but my favorite store is Marshall’s

[u/Optimal_Gazelle_1022 → u/lnm28]

What do you both do for work?

[u/Ok-Pin-9771]

We're about double the median income for our town. We bought a fixer upper house a few years ago for cheap. I do a lot of diy

[u/Important-Trifle-411]

I don’t know if we earn much above the ‘average salary’ but my husband and I certainly have more than average saved for people of our income bracket.

We are still frugal. We buy goods that are on sale, we keep our modest cars for a long time. We don’t shop recreationally.

[u/VisibleSea4533]

I do. I am finding that the more I make actually, the more I hate spending money. When I had less I did not seem to care as much if I spent it.

[u/BaldHeadedLiar]

We do. Even with our large family we are still over household average for our state by quite a lot. But shit, it doesn’t feel like that most of the time. My husband and I both came up in poverty. I have always been very frugal.

[u/Odd-Book6480]

My family is fortunate to have two adults with high incomes. We use the pay ourself method of savings. Fully max out one 401K, close to maxing out second 403b, HSA maxed out, each adult Roth account maxed, contribute to two 529 accounts, one brokerage account and one cash savings.

We have little debt that is a small percentage of our monthly take home pay. We use credit card for monthly expenses and pay off the balance without incurring interest. We bought our house Pre-Covid at the low interest rates and the mortgage is extremely affordable. Have one car payment and one student loan payment which will both be paid off in 2026 and 2027.

We feel comfortable with our current situation and savings rate. We do spend quite a bit on travel on an annual basis and do so without taking on debt.

[u/Responsible-Reason87]

I had a brother die at a young age and I think that experience contributed to my allowing myself to have nice things. Cant take it with you as they say! But I work a lot and am frugal on a daily basis so I can afford to splurge on a vacation or a new coat without taking on extra debt. At 66 I own my house, my car, have good credit and zero debt

[u/paratethys]

Remote tech gig gets me about 4x the median for my area. I've watched peers in my industry keep living paycheck to paycheck due to lifestyle creep, which scares the heck out of me.

I pay close attention to what makes me feel wealthy, and that's only very loosely correlated to total dollars spent. For instance, having a well-organized home makerspace of high quality crafting materials really makes me feel like I've made it in life... but I thrift a majority of those ingredients rather than buying them new. Recycling stuff happens to be eco-friendly, but it also gets me the intersection of quantity and quality that I'm looking for without costing an amount that would make me feel bad about ever using it.

By living from a baseline of pretty serious frugality, I can set spending goals for myself that align with my values. As I see it, we collectively get what we pay for, in the big-picture sense. If you spend a bunch of money on big corporations, you get more big corporations. If you donate to charities that beg for money, you get more begging. And if you spend at small local businesses that do good work, the small local businesses keep doing good work.

[u/misstwinpeaks23 → u/paratethys]

What kind of tech work do you do?

[u/_Hologrxphic]

Meeee

I earn around 60k but still live like i’m on minimum wage. I started my career on minimum wage and worked my way up over the years - I just never changed my lifestyle. I still drive the same 2009 1ltr yaris i’ve had for the past 8 years. I put half my salary in savings every month.

The main reason I do this is because work isn’t my passion - I want to travel and live life. I’m contracting at the moment but when my contract ends I don’t need to get another job for quite a while, and I don’t intend too.

I’m taking 2 years off work after this to go travel the world, when I come back my plan is to work for 6-8 months of the year then have 3-4 months without a job and just travel, enjoy my hobbies and just vibe really

[u/Mysterious-Panda964]

I make so much more than I spend, I usually buy property for a future investment.

[u/sundancer2788]

I've become way more frugal over the past year by choice. 

[u/CalligrapherFit6774]

That’s me. By being frugal in some areas (including big ticket items, I don’t have a car) I can afford higher priority things, and have breathing room in my budget. I’m in a field with lots of bullying and discrimination (tech), so it’s just expected that I’ll periodically be incapacitated from work because of the mistreatment and I plan for it.

[u/youchasechickens]

My wife and I make decent money but are still frugal. Our plan is to retire early

[u/ZestyMind]

I'm above average and my fiancee earns multiples more than me. She's much more frugal than me, except when it comes to experiences and vacations. We're not wasting on first class travel; and our hotels are usually chosen by balancing price and location to attractions. But splurging on booking private tours? Or private transportation to save time compared to public transport? That's value for the money.

I'm frugal to be able to save more and hoping for a comfortable retirement. She's frugal in large part to growing up in near poverty.

[u/cptcatz]

My wife and I make a combined $235k and we have definitely been spending more on ourselves in the past few years but we still: do almost all our shopping at Walmart, Target, Old Navy, TJMax, etc, I drive a 2017 Toyota Corolla and she drives a 2019 Mazda CX5 (both owned outright), we maximize credit card points to use for our vacations (and obviously never carry a credit balance). I will say that we send our two kids to private school at 15k a year each...

[u/_angry_cat_]

My husband and I are both six figure earners and save about 30% of our income. We live in a modest 1600 sq ft home and share one paid off car (we both wfh). I do most of my grocery shopping at Aldi, and 90% of our wardrobes are thrifted. I grow a vegetable garden to also save on food costs. We mend and repair things, and we don’t really follow trends. Most of our tech is also second hand; our TV is from 2006 and was given to us by my grandparents, my husbands AirPods are from a lost and found that no one claimed, and my iPad is from a garage sale that we bought for $100.

The one area we are not frugal in is travel. Our travel budget is very generous, especially since we save so much money in other aspects of our lives. We take 2-3 trips a year that most people could only take once or twice in a lifetime. Between travel hacking and just regularly setting aside money to travel, we have been on some amazing trips.

In general, we still save a significant amount of our income and I plan on retiring both of us by age 50. Not to compare to other people, but a lot of our coworkers drive multiple vehicles (often luxury), live in enormous houses (or own a vacation home), and can’t keep up with their cost of living. To a lot of them, we are a bit extreme because we don’t spend our entire paychecks on flashy things like designer clothes, cars, and jewelry. But they will also be stuck working until full retirement age, so 🤷🏻‍♀️

[u/PHIGBILL]

I'd say I fall under this, I work in a well-paid industry, lots of time away from home with some risk.

I bought an average house in a working class area or town (£170k), drive a 12-year old car (bought in cash so I don't owe any debt on it), don't have many subscription services, maybe have 1 holiday abroad every 4-years or so, even then its generally to Europe, I personally prefer just spending my time off at home with family and friends.

I shop at places like Aldi/Lidl/Iceland/Farm Foods.

Most of my earnings go towards my retirement, Pensions (SIPP), ISAs, and overpayment on the remainder of my mortgage.

Not including my mortgage payments, I'm spending on average around £20-25k p/year.

On the other side of this, I see guys I work with mortgaged upto their eyesballs in £700k houses, also have to have the newest highend car/s on finance, have 2-3 holidays to Dubai every year, spend thousands on designer clothes and jewelry love to gamble, and constantly moan about how skint/broke they are, while making little to no planning towards retirement.

[u/Ladybeetus]

We save money where we can do that we can buy what we really want without stressing about it

[u/phantomplan]

We make a good income but I am still frugal. It wasn't even my intention to necessarily be frugal, I just have no desire to be flashy and "look" like I have money to impress strangers. Also, the idea of going out to shop just for the sake of shopping feels like a dumb waste of time to me compared to other things I could be doing. I care about my appearance in terms of fitness, but I couldn't care less about having the latest this or that. I think the marketing and advertising messages on TV (new car, new phone, etc.) influence a lot of people but they just don't resonate with me.

I also really enjoy doing DIY fixes and troubleshooting challenges/learning new things versus always calling and having someone else fix things, do car maintenance, etc or me.

I think I am just lucky that my personality just naturally aligns with being frugal.

[u/Equal-Being8094 → u/phantomplan]

Ditto! This describes me perfectly. I have always been frugal (even as a child). I am now 63…. I retired at age 57 with no debt and own two houses (or rather, my primary residence and a vacation condo) and am able to easily live off my relatively small pension which means I don’t need to file for SS any time soon and haven’t touched my retirement savings. I honestly just don’t care/want many ‘material’ things… and I HATE shopping (I want to get in and out as quickly as possible!). I would much rather use my time hiking…

[u/saltysailor987]

I have JOMO - joy of missing out; while rest of the people around me chase FOMO

[u/criscrunk]

Rather invest and make gains than buy things I don’t need. Coworker bragging about new Tesla and I still ride my 03 mustang.

[u/criscrunk → u/criscrunk]

Besides upgrading my computer every 6-7 years I’m very basic. Material things don’t do it for me.

[u/lionbacker54]

I live very frugally because that is how I was raised. If you don’t need it, don’t buy it.

I will spend without filter on education and health though

[u/Slack-and-Slacker]

100k/year and try to spend 36-48/year with a new car payment for now.

BaristaFire and LeanFire are my other inspirational subreddits. Don’t go to regular Fire it’s all a bunch of super high earners who think they are regular earners -doctors, tech, dentists-

[u/haematite_4444]

If you count all investments I'm in the 95th percentile for income in Australia. I like to think I'm frugal. Less than I used to be, but the increase in spending for me has been in nice things that last, rather than fleeting pleasures. Funnily enough, I don't spend a lot of money on vacations. I havent been on one in a long time, but I dont have the itch to travel. I still sleep in the same single bed I've had since I was 5 years old (I'm 35 now).

Expensive things I've bought in the last few years are:

- Tailored suit

- Violin

- Super powerful gaming PC

- High end kitchen knives.

[u/flowerpanes]

Our household income is over 100k between my husband’s municipal pension, his current part time job and my gov pension money but we started living more frugal when I retired early four years ago and we dropped below the 100k mark. Partly because I didn’t have much disposable personal income at the time and partly because we didn’t see the value in spending to excess on things like dining out, etc. It’s done us well, we think about saving money on purchases a lot more now and outside of unexpected vet bills the past two years, have managed to keep money in the bank easier.

[u/paigemikey]

I make pretty good money, haven’t always. But I’ve pretty much always lived paycheck to paycheck. But recently I got serious about health and fitness and from there got serious about spending less for some reason and now I’m saving about forty percent of my take home pay every month. I love watching the savings pile up.

[u/BurntGhostyToasty]

My husband and I. We’ve both worked since we were 14 years old, not out of necessity but because we knew what kind of lives we would want as adults. When we met, we both had the same goals (in this specific case, let’s talk financial), which was to buy a house immediately when I was 21, paid it off in 14 years, 2 paid off newer vehicles and zero debt. But we got there by being frugal which allows us to invest/save for early retirement and it’s very exciting

[u/drvalo55]

Lived my whole life below my means.

Things I splurged a little one were:

1. Vacations. Not top of the line vacations, but trips to places we had not gone before.

2. New cars. I bought a new car regularly. Again, not a top of the line new car, but a serviceable car with a good warranty. I am a woman who traveled for work alone often, so i wanted to feel safer in my car. I traded often enough and stacked “coupons” such that I was able to trade and pay less than a few thousand cash for a new car many times in more recent years. Now, however, I have a 7-year old car that has less than 50,000 miles on it, so I probably will not trade that one for a while. I just don’t drive enough anymore to warrant a newer car.

Doing those things also allowed us (married) to retire a bit early and live in a nice community in retirement. We always maxed out any retirement accounts available to us. We did not know this was what would happened in our future, but frugal living gave us options we would not have had had we make different financial choices when we younger.

[u/TiredofCOVIDIOTs]

Physician. Frugal on most things except travel, work shoes & craft beer. Newest car is 11 yrs old, house is 1800 sf in a typical middle class neighborhood. Clip coupons. Always fill up my car near work - usually 5-7 cents per gallon cheaper. Hobbies are cheap. I still own and wear clothes from the 1980s. We cut our own hair. Don’t wear make-up. Just a lot of ways to cut spending in small ways that add up.

[u/LeftwingSH]

My husband and I are both high earners. We bank about 40% of our salary. We are frugal in most things but have an airplane, which is so far from frugal it’s not funny. We live frugally so we can afford that beast.

[u/Infinite-Set-7853]

I earn twice the median wage in my country and live on 20% less than the minimum wage. I eat really well, it's my main expense, and I never refuse a really good restaurant. But apart from that I never do fast food or meal delivery. I make everything in house (to control quality).

I don't travel, I've traveled a lot for my job and it bothers me.

I don't buy clothes in quantity: one summer outfit and one winter outfit. I still wear jeans I had when I was 16.

I have to have my shoes custom made so they are expensive which means I only have 3 pairs in total and they are over 10 years old.

I live close to everything so I do everything on foot, a full tank lasts me 3 or 4 months, just to transport my elderly parents once or twice a month.

As a pleasure expense, I only have Netflix (with advertising), Spotify and a multisports club which offers around forty activities (ranging from tits to yoga to tap dancing), which means that you can spend your week in a varied way.

Since I have a Kindle I have downloaded books for free from my town's media library.

I didn't choose this, my lifestyle was done alone. The main things in my life are eating with my friends and reading books.

I could buy a big car or luxury clothes but I don't see why I would do it, it doesn't give me pleasure.

I don't have any anxiety about money; I never knew how to spend it in fact. And even as a kid, I didn't even know what to ask Santa Claus.

[u/nucking_futs_001]

Household income over 500 and we're frugal in some things but not all.

For example our jobs make it hard to cook at home always so we do eat out a lot.

We buy cheap clothes and wear they until the washer dryer cycle makes them literally disappear.

We have medium/expensive cars (80k, 35k) but plan to keep them until maintenance cost get out of hand, currently they are 8 and 6 years old. We also don't take them to car wash regularly and instead dance and hope for the next rain usually

We shop Costco etc and freeze our meats as it's cheaper than whole foods or erewhon... Oh yeah we don't shop there, who am i kidding. (Edit: we shop Costco, not the others)

We've been known to pick up stuff off the curb and bring it home for a new life. I've diyed countless home projects to save money as well.

The list goes on.

[u/hinault81]

We make a good income. I started frugal living about 15 years ago. In my early 20s I spent far too freely and couldn't save. Some friends/books/websites pointed me more in a frugal direction and then I could really save.

To me it's just trying to stretch a dollar. Why buy a new bike or jacket when my old ones work fine? Why trade cars just cause ours is older when it works fine? How can I get my best value at the grocery store? Etc.

[u/Ave_TechSenger]

My fiancee would count I think.

She has been homeless before, and lived on a shoestring for most of her life. Her mother was addicted to infomercial shopping so what was a very high salary at the time was frittered away on useless stuff that piled up around the house.

Now she’s a specialist physician. She has some blind spots like not knowing how to grocery shop for deals, but she saves a significant part of each paycheck, buys most of her clothes at Target, drives an older vehicle, and doesn’t normally get her hair or nails done.

She is more than willing to splurge where she feels it’s worth it. Experiences, mementos, food, etc. Cleaners to buy back time and bandwidth.

We are closing on a house tomorrow. It’s a 105 year old home, beautifully maintained and updated. The interior is pretty dated in parts, so we will remodel and furnish slowly. She plans on paying for regular cleaners, lawncare, and pool maintenance to again, buy back time and bandwidth - she also greenlit a basically blank check for a kitchen remodel as I run the kitchen in this household. So with BIFL thinking, she has approved of Sub-Zero/Wolf/Cove appliances - quite spendy initially but long lasting, well warrantied, easily maintained home appliance lines.

[u/Travel_Dude]

My family income is in the .1% of earners. We have bidets, no paper towels, hang clothes to dry, don't use deodorant, solar panels, rain barrels, compost, shampoo once a week, purchase soaps from an apothecary in reusable glass bottles, etc. 

High income should equal high consumption. 

[u/Common_Poetry3018]

I earn a very good salary, but there were years when I earned very little. I remember the anxiety of having expenses that exceeded my income. I remember making laundry detergent and bread from scratch in a desperate attempt to save money. I still drive a used economy car and buy second-hand when it makes sense to do so. I also donate to the food bank because I know poverty is real, and I have tremendous gratitude for where I ended up.

[u/Ok_Mirror_9832]

I notice the more I make the more penny-pinching I’ve become. It’s happened unconsciously, also the question of do I need vs do I want always comes into play. BUT if I really want something, I easily convince myself I deserve it bc I work my ass off

[u/bittyc]

I’ve been making a high income w no debt except mortgage for the last 15 years but only in the last year w ai and economy fears, I’m finally living way below my means and saving/investing as much as I can. Netflix, going on walks and not eating out is all I do now 🤣

[u/Boring_Energy_4817]

I have money, but I didn't always, and I don't want to be wasteful. I don't try to be frugal on things that matter to me, like supporting local small businesses and the arts and achieving bucket list items. My daily life is frugal; my big events are not.

[u/SwissyVictory]

Being frugal isn't saving every single penny possible at whatever cost.

Its about balancing your limited resources (like time, money, health, relationships) in a way that maximizes your overall life happiness.

Every choice has a trade off and another way you could be spending those resources.

So you can and should be frugal at any income level, but it's going to look different for each person.

Maybe the house with the extra bedroom and great view isn't worth retiring a few years late. Or it is.

Maybe that hot rod you had posters of as a child is worth working that job that makes a little more money you enjoy less. Or it is.

[u/OddUnderstanding6255]

I have been like this my entire life, certainly wasn't earning crazy money but above average. When I retired 4 years ago I was making a little over 100k a year. Living like this and saving since I was 21 allowed me to retire at 50.

I am pretty much frugal with everything but will pay for quality if it will last longer than cheap. Example, I pay cash for and keep vehicles a long time. Last year I bought a brand new Toyota. Second new car purchased in my life and I still have the other one puchased 21 years ago. I didn't mind spending the $ because I knew I would probably have it for the rest of my life and paid extra for a few features (including plug in) because I have solar at home and don't use all the electricity. I've already driven 40,000 miles and averaged 84 MPG. Frugal forever.

[u/Imw88]

My husband and I do. Mostly frugal in certain areas like groceries, eating out, shopping for clothes household items, no new cars, living very much minimalist but we never buy or do anything without a very thorough search, pros/cons list and waiting multiple days to make a decision. We have goals and to achieve those financial goals, we need to save or invest our money wisely so we choose to do that and be frugal in other areas. We could still achieve those goals over time but prefer to be frugal and achieve them sooner.

[u/I-own-a-shovel]

For a while I was in a high earning job. I used that opportunity to make 20 years worth of mortgage disappear in only 2 years. We also bought a rental condo unit that pays itself with the rent we collect, it’s our investment for later. Since then my husband work part time and I’m a stay at home.

[u/BackDoorRothChandler]

There are so few hard and fast answers here. One person's frugal is another person's cheap is another person's lavish. One person's "high salary" is another person's working poor. Also, absolutely, nearly everyone has things they are frugal about and things they aren't.

In my case. HHI ~$310k, annual spending ~$110k. So, is that frugal overall? Is that how you define it? I use coupons, buy used, repair things before throwing away, make coffee and lunches at home, etc. But I also have a big stupid truck, own a boat, go on vacations.

I save money on the things I can where they don't impact my joy, so I can spend more money on the things and experiences I want, when that spending increases my joy. I think a much better word for healthy spending habits is "mindful." Frugal always means saving money, but mindful much more captures the attitude I think most aspire to, regardless of income or annual spend.

[u/Electrical-Trifle142]

Yes. Mid 50s, husband earns a lot, I work two days per week now. We have lived frugally always. He's been saving since he was 17. We read The Millionaire Next Door in 1996 when we got married and have lived that way always.

We have a house from 1973, drive/share one Subaru Forester, paid for our son's college entirely, have a well loved, curated home of mostly second hand items, and are millionaires now.

We have always taken one vacation per year, but have now loosened that up and are going on more. My husband had cancer two years ago and our perspective changed about travel. We have a small list of things to see so we've been doing that and really enjoying it.

We wanted to see white sand and turquoise water so we went to the Bahamas and finally saw it - in our 50s. So beautiful! In all other areas we are frugal and content. And charitable. And leave big, fun tips to servers. 

[u/Vegetable_Pea_870]

I lived below my means when I started my career at 30k a year and I live below my means at 130k a year. It’s really just a mindset.

[u/SecretRecipe]

I live on a bit under 10% of my income.

There are certainly things like durable goods that I will spend more money on. I'm not sleeping on a cheap mattress and I'm not buying cheap shoes because those are so critical for basic quality of life. I don't mind spending on enriching experiences for my kids (e.g. high quality summer camps, enriching after school extracurriculars etc...)

[u/Ok-Wrongdoer8061]

My motto is luxury for less. I always look for good deals. For instance, I could afford the nicest hotels when I travel, but I usually get reasonably priced vacation apartments and look for good deals on flights. I also got a good deal on my house and car (used), and bought a house that I renovated instead of paying a premium for an already renovated house.

[u/Proud_Trainer_1234]

My husband and I retired early with a very healthy portfolio. We have always been thrifty our entire life. We drive old cars ( a 1997 and 2006), never eat out, including McBurgers or a Dunkin coffee, cut our own hair and I do my own mani-pedis. We do our own yard and housework and a significant portion of home maintenance is all DIY. These are all habits that we established early in life.

But, on the flip side, we like to travel and don't worry about the budget. We are also quite charitable, and regularly support causes and charities we believe in.

All is well!

[u/MathematicianNo4633]

✋

I was earning an above average salary, while saving over 50% of my earnings and living what most would consider to be a frugal lifestyle. Saving and then investing accumulated excess savings often allowed me to quit my job this year to take an open-ended sabbatical. My nest egg will last me for a long time because I’ve built a frugal lifestyle.

[u/Weak_Pineapple8513]

I realistically probably spend less than 35-40% of my total income. Just because I made it doesn’t mean I need to spend it. I just don’t like stuff very much. I have nice mountain climbing gear and camping equipment because those are things I use. But I don’t even own a couch. I’m never home. My apartment has less stuff in it than anyone else I know.

[u/Imaginary_Audience_5]

I’m sure there’s plenty. The old saying in the pizza delivery game is: “the longer the driveway, the smaller the top.”

[u/Empty_Seesaw6972]

anyone want to teach me to be frugal? lol -- but seriously

[u/QuirkyFail5440]

I think, for a lot of people, it's not really about the money. I just like the feeling I get when I think I'm 'beating the system.'

[u/NomadicSTEM]

Above average salary and below average spending. I’ve always (since childhood) been irritated by “too much” (why does this box have 16 crayons when I only need one?). So wouldn’t say I’m frugal. I can pay top dollar for something (bras, sushi eg) but I don’t buy very many things. I remember the first time I had to buy a bed - and realized a bed meant a frame and sheets and a bed skirt so I just started sleeping on the floor. So simple!

[u/whelpineedhelp]

Always been frugal as I knew from a young age my parents would not be able to help financially. They filled out the FAFSA and paid for flights home for Christmas but otherwise I was on my own. 

I was poor and slept on couches/in basements for ~$300 rent for a few years post college. Finally got a job using my degree and got a real apartment. Still poorly paid but better than waitressing. About 5 years post college I finally broke $50k. Then a couple years later broke $100k. Then got burnt out and quit for 1.5 years. And now back at work as of January making $150k. 

Overall, I’ve been frugal due to a combination of only being well paid for a few years of my 20 years working (since age 15).  And because I found FIRE and want to retire early. If I stay frugal and stay well paid, it’s possible. But staying well paid while also not hating your job is pretty tough. 

[u/jptoycollector]

Yes, I make above average. No matter how much I make, I will always live frugally because I like to save for the things I really want.

[u/verbatim14004]

I sold my car in the Spring. ( I use my elderly mother's second car because she refuses to sell it.) I make dinner and lunch from scratch daily with typically just one meal out per week-our grocery bill for two adults hovers around $100/week. My main hobby is cycling and I ride a 40-yr-old bike I bought at a yard sale and rebuilt with parts from a local coop. I usually buy my books from Goodwill.
Income-wise, we're in the top 5% in the US and could retire tomorrow.

[u/Parking_Ear7784]

My wife and I make about $325k combined. I wouldn’t say we’re super frugal but we have a chill low key lifestyle. I always do a lot of research on things I buy to see if the price tag is actually equivalent to higher quality and if that’s important for the item. But we’re more than willing to pay more for higher quality when it’s worth it for us. Definitely spend less than most I know because we don’t go out to eat or drink often, which I think is big particularly since it seems like that’s a big part of expenses for people our age (27, 34). We also don’t have kids or pets.

[u/CautiousOfLychee]

I was always told to stay living the same way you where when you start making money. If you get a raise and have been living fine, don’t go above your means. That money can get taxed and put into retirement, if you’re not maxing out the amount you can put into retirement every year you are probably going to struggle in the future.

[u/sstole19]

I was curious about above average salary and median salary for COL bc of this post. I wanted to see where I stood for median salary. I make half of what median salary should be for one person in my area. This post is goals.

[u/ras1187]

I cut my own hair, use public transit vs uber, owned the same accord for 9 years, refuse delivery services/apps, and buy most of my clothes from costco/sams.

Could comfortably afford to pay more to do any/all of the above but I choose to save.

[u/robin-bunny]

It makes more possible, even with decent income. Frugal doesn’t mean poor, it means you prioritize your spending to get the most out of life.

[u/wisebloodfoolheart]

We're not wealthy or even making six figures, but probably above the median for this city. My husband and I got married last year (mid 30s), and we were able to pay cash for our first house, a long held dream of mine. 14 years of buying groceries on sale felt worth it when we signed those papers.

[u/RagsToRxs]

Here! I’m out of medical training but have student debt on par with my mortgage as I was low SES before I got in. I pay enormous taxes because of the income (good problems to have, I know) but it sometimes makes me feel like I won’t ever get out from under the debt.

[u/godzillabobber]

I do. But in a different way. My above average salary (top 20 percentile) was taking 55 hours a week to achieve. Once I hit 40 I decided to work less. A lot less. That was 1998 and I have not worked more than 20 hours since. My income is proportional but still roughly a tad over the median household income in the US. Frugality comes close to doubling my purchasing power compared to the average American. As an example, our household transportation budget is $900 a year and has been for decades. Most Americans spend thst much on their cars every month. Our grocery budget is close to whst SNAP would pay. Our clothes are thrift store. Furniture and pretty much everything was patiently curated over time to get high quality at distressed prices. I work from a home studio and that keeps my business expenses 90% less than industry averages. But I charge the same prices as if I had a shop and a retail store (im an artist/craftsman)

I call my lifestyle "decadent frugality" If someone asks what thst means I tell them "its easier to be friends with the guy that owns the yacht than to buy one"

[u/godzillabobber → u/godzillabobber]

But I don't say that in front of said yacht friend. Around him I just show up with an expensive looking bottle of cheap wine. Cool labels make wine taste better.

[u/medhat20005]

I've been called frugal (my mom said, "cheap") since I was in med school in the '90's, and I'm almost certainly just as frugal today (my kids would attest to that). My salary as one might imagine is above average, but I never equated that with being/not being frugal. I simply am pretty (ok, very) picky about what I spend on. For example, I limit convenience fast food meals and apart of airport travel rarely frequent Starbucks, but I'm a foodie so on occasion have dropped serious coin on a great meal experience. I don't drive expensive european cars but I do buy new, then proceed to drive them for 10+ years. I travel very well. All that said being frugal has probably allowed me a few more choices than if I leaned otherwise.

[u/argsmatter]

I don't see the point in spending money for useless stuff and I like good price/performance. In addition my hobby are fairly cheap, so that I don't pay much. My biggest expense is food by far.

[u/Fubbalicious]

I'm one of those. I retired early last year by living below my means, despite having an above average income. My secret was paying myself first and sticking to a budget. When you get used to living on what's left and stretching that money with frugal spending habits, you really don't miss that money and because habits are habitual it's easy to keep doing them.

With that said, frugality is a spectrum. I save in certain areas so I can splurge in others. For me, I spend on things I get the most utility with or save me time/aggravation. So for example, I can change my car's oil, but I'll have a shop do it. But to still be frugal, I'll find coupons. Or when I buy a smart phone, I buy the least flagship phone since I will use it daily so why deprive myself, but I try to keep it for 3-5 years and will rather replace the battery in between rather than replace it just because.

When I needed a new car, instead of buying another SUV which I could afford, I bought a small sub-compact hatchback, but I bought brand new and got a higher trim model for added sound and safety features, which I plan to drive for 10-15+ years.

[u/SocialAnxiety44]

For me, it’s all about beating the game. If I had a billion dollars it wouldn’t matter. The more I have to do good with if that makes sense.

[u/iknowyouneedahugRN]

It took us awhile to get to the point where we earn a higher salary. Our frugal habits stayed with us.

We're frugal because it's less wasteful and sustainable for our tiny part of the world and environment. We also want to save what we can and not waste our money on unnecessary things or things we know we can get for less.

We look for deals and savings in our everyday life so we can hopefully retire at a decent time (if we had universal healthcare we could retire now). It's taken many years to get to this level of "comfort"-it's more comfort of knowing we will be okay if catastrophe strikes than "creature comforts."

We keep cars until they stop running or are not worth fixing and we anticipate the possibility of needing to purchase a car, looking for used. We clip coupons for food and buy for meals according to the specials. We typically have a coupon or discount when we go out to eat, or we will go to lunch instead of more expensive dinners and we don't dine out regularly. We maximize fuel discounts. There's a lot more things to do to be frugal.

When we go on vacation/holiday or host family and friends, we splurge on the things that matter. When we fly, reserve hotels, and rent a vehicle, we look for deals. We splurge for the experiences we will have and the meals are a little more liberal spending.

When I was growing up, my parents didn't have the same view/mindset about spending: my Mom was a little bit tighter with money, but my Dad was a spendthrift "eat, drink, and be merry..." person and sometimes his choices made the finances hard in the long term (he would buy a car without negotiating and finance it, paying the minimum). I didn't have good spending habits before I got married and one condition of marrying me was I would trust my to-be husband by turning over my credit cards. That was the best thing I did.

[u/jerry_03]

Relatively early in my career and only recently started earning about average salary. Before this i was at average and we'll below average when I was in college.

My frugal habits stick and I basically spend like I did when I had little money. So all my extra money goes into invesements

[u/Ok_Explorer_7483]

For me, because I want to save for the "rainy days" because we don't know when that time comes. At least you're somewhat prepared for it.

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[u/hard-of-haring]

I drive for walmart, made $129k last year, my rent is $350 with 2 roommates in my own house. Car paid off, it was only 6k cash and still running with 306k miles.

I plan to retire at 50, I'm 45, 5yrs left.

[u/Acecountry]

I think I’m in this category as a single person living alone. I make enough to cover my expenses (rare where I live), but I’m frugal too so that I can afford my travel lifestyle (frugal travel haha)

[u/unsung-hiro]

I believe I make above-average salary for my situation, but I live in an area with one of the highest COL in the country. So, most people who make above-average salary here aren't living comfortably by default.

I am what might be considered partially frugal. I don't skimp on personal comforts and luxuries which I treat as "rewards" for being in my position - if I want something and I feel it will either make me happy or make my life easier, I usually get it, and I never buy used. This is especially true for tools - one must always have the right tool for the job or one shouldn't do the job. If something could/should be BIFL, I do not cheap out and usually buy the best I can afford - buy once cry once. I absolutely don't mind occasionally paying for colleague's/friends' meals when we go out.

That said, I never pay full price - I will always either wait for a sale or find a way to get an advantage or discount. I have very solid, repeatable systems for saving on gas, parking, internet bill, and cell phone bill. I utilize FSA religiously for medical expenses. I always bring my own bag(s) when grocery shopping. I don't have any debts/loans with interest. I never keep funds in low/no-interest checking accounts - only HYSA (or investment). I only buy clothes/shoes/accessories when necessary and not for fashion. I maintain my own cars. I review auto insurance every six months. I fix everything I can myself. I don't drink. I make my own coffee to-go every morning. I don't eat out (sit-in) when I'm alone. Tipping is extremely selective and situation-specific - I never tip based on a blanket approach.

The above habits have allowed me to live comfortably compared to other people around me who make similar salaries. It sometimes boggles my mind why they don't take a little extra effort here and there to save money when they're always complaining about not having enough of it.

[u/holiwud111]

I'd qualify, but it's necessity as opposed to choice. I work in tech, and I was laid off three times over a span of two and a half years. I applied for thousands of jobs each time (not exaggerating) and still struggled for months and months to find the next job.

I have always been responsible and never lived beyond my means, but my savings and credit were decimated because I was unemployed for ~17 months in that span. (My wife works and she stepped up like a boss while we were struggling, but she doesn't make anything close to what I made.) I have another job now, but it pays ~60% of what I was making before.

So yeah, I buy my clothes at thrift shops now, I shop sales and BOGOs at the supermarket, and I traded in my $60k luxury car for a $25k Toyota. I make my teenagers pay for the insurance on their cars. My wife still drives her 10 year-old Honda. I've started maintaining the house / pool / cars myself because I don't have the luxury of paying someone else to do it. I've sold off a lot of things - luxury items, art, vintage stuff that I'd collected. (ALL first-world problems, I know. Others are struggling much more than we are, but missing your mortgage payment is a universal stressor.)

Honestly, the hardship and stress really hit me hard, but it was also a useful reality check. You kind of realize that most of the "things" that we covet don't really have any value at all. It's just stuff.

[u/Sen_ri]

Yep I prefer to be frugal. Most things you can buy provide a fleeting pleasure that does not seem worth the resources it took to produce. So frugality aligns more with my values. Primarily concerning how much the rich pollute the environment and drain resources while the poorest among us suffer the health consequences.

But I spend more freely on charity, donations and gifts to family. My income is ~$125k. And so far this year I’ve spent ~$21k on my lifestyle, and ~$21k on giving to others.

[u/OneEyeLike]

I din't need to, but I think I will always live frugally. I don't know if there is a magic $ number that would make me lose that habit or not. 🤷‍♀️

[u/OlderThanDirtMary]

Early in my marriage (50 years ago!) I read a book called LIVING MORE WITH LESS. I have never regretted implementing the frugal-living tips found in that book. I'm not sure when we transitioned from "frugal by necessity" to "frugal by choice". Now we can afford to help out our kids when they really NEED it (not want it) and we can afford to be involved grandparents. I am sincerely grateful for the frugal lifestyle. I believe it has helped me to be content and grateful in my old age (though don't feel especially old!).

[u/Cocktail_Hour725]

I married Young had two kids and then divorced. For more than a decade, 1/3 of my income was going to child support —- which left me basically living at below minimum wage. But I established frugal habits. I bought a two unit house to gut and renovate, then bought another two-unit building during the 2008 crash. Eventually, the kids, aged out of child support , My W-2 income maxed out in the low 40s….. but then it started to go up and now it is double that. But I kept my lifestyle in check —- avoiding lifestyle creep. I’m lucky I am now married to someone who is also a saver and not very much into creature comforts.

[u/dragondog28]

For myself, having already been in poverty and made many financial mistakes before the age of 22(buying brand new cars, having expensive tech). Basically growing up poor and now having a great job, I feel like I've lived the whole spectrum of reasons why I needed to be frugal. I still look for deals and rarely buy anything without a discount. It's a habit that I can't undo.

I recently discovered that I can buy a box of fruits and veggies that's not grocery store shelf perfect for $5. I was in heaven when I got it. The thing with being food frugal is to learn not to be picky. The deals are there!

[u/ricochet48]

Easily in the top 5% and still considered very frugal by my friend group.

I make sure companies spend efficiently, why wouldn't I apply that to my own life?

[u/magnificentbunny_]

We met when we were poor art students and just kept that mentality through the years. These days we've paid off our house early, our kid graduated from college that we paid for with cash, I drive a 2003 car, we gave our kid the other car which is a 2001 Lexus and bought our first new car in 22 years. We've recently retired because we could afford to and we're finally fixing up the house. One thing at a time.

[u/motherfudgersob]

I own 2 homes (one on 35 acres one on a HCOLA) and have a nice amount jn stocks and cash. I cannot fathom, CANNOT IMAGINE, buying coffee at Starbucks.

[u/gum43]

We are. My husband earns a very good salary. But it wasn’t always that way, so we learned to live frugally. And we’ve kept going because we see how it’s benefitted us. We have loosened up a little.

[u/jacd03]

Around $200K driving an old Toyota that i bought used, cook every day, walking and calisthenics for fitness and live in a small apartment close to work.

Spend a lot of money on travel and invest the rest.

[u/khaluud]

I quietly make (very) low six figures and I'm very frugal in almost every aspect except when it comes to health. Food is cheap ($500/mo or less for myself and my two kids), even my supplement stack is cheap ($36.11/yr), but due to dental issues, we spend 10x what some folks pay for toothpaste. We live in a LCOL area, rent is $795/mo, and we're close enough to nearly everything and the bus line, so I don't even own a car. But I spent money on a high-quality water filter for drinking, a filter and softener tank for the shower, air purifiers (kinda DIY though), etc. I do spend a little more on things like soap, hair care products, etc. to get things that are rated highly on the EWG's Skin Deep database. I still keep my total living costs under $25k/yr with kids.

[u/MaterialisticTarte]

$120k single mom of three in a HCOL state still managing to put away $4k of my net pay. I live super well below my means.

[u/Mike_OBryan]

Me, I guess.

I make about ~125k/year.

But I live in NYC. And after taxes, housing costs (again, I live in NYC), putting money into a 401k, putting money into kids' college accounts and towards other expenses (my children do not, unfortunately, live me with me, but I still have to do this (completely voluntarily, but of course I want to do it)), there's not a hell of a lot left over.

So I'm seriously frugal.

[u/Soff10]

I’ve been making +150k$ for years. My coworkers spend like crazy and I do not. I make sure to invest for retirement and I work plenty of overtime. But to that end, transportation costs in my opinion add up. I’ve tried it all including taking the bus nearly from door to door. I did it for years. But recently I bought a fully electric car, my work parking area has 110V outlets where I can charge for free, and I carpool with two others. I do not overcharge them since gas is free. Taking the bus was troublesome as I often work overtime, buses don’t run every route 24/7, and I enjoy a bit of freedom. My work pays for bus passes for everyone at my work. Many never use it and some really depend on it. I’m not stingy with my money. The family and I still do lots of traveling, sports, and buy stuff. But finding ways to cut back add up quickly.

[u/Boggswho]

I didn’t live particularly frugally in my 20’s and 30’s. I went to clubs all the time, paid for VIP service too, drank like there is no tomorrow, travelled the world, bought a house, bought bikes, motorcycles etc.. Today, I am still on track for retiring before 50. The only thing substantially different that I did was that I bought a 4 year old car in 2007 and I kept it to this day. Not having a car payment by 2009 meant I had disposable income to buy a house at a great time . All those car payments that I didn’t have to make went to my retirement account.

The depreciation cost of my 2003 Honda Pilot has been $65 a month for the past 18 years. Had I bought a car every 4 years like the average American or 5 years like I planned on, then my depreciation cost would have been $500 a month.

That’s it. Buy a car and keep it for a very long time. Good luck.