I have become more and more frugal over the years since the days of splurging on excesses that I did not really need. In fact on hindsight I regretted my financial choices and wondered what's the point of spending money on moments that do not last. For example, I had once splurged $80 on a crab buffet -- it was only enjoyable at that moment. I'm pretty sure I couldn't and didn't consume $80 worth of crabs and hence I would be better off achieving the same economic utility or satisfaction somewhere else with a much smaller budget. Satisfaction only increases marginally on increasing expenditure beyond a certain point, so why not save most of the money and spend somewhere else?
Sometimes I do spend slightly more depending on the situation, for e.g., outing with strangers and "important people", as I do not want to convey an impression of stinginess. But when I'm with familiar friends and family, I always go for the cheapest. I find that most often, I can go with the cheapest options without compromising much on quality, if at all.
It's the same with over-priced festive goodies. It's Chinese New Year again and I did not buy a single goodie although my family did. I wouldn't buy even if they didn't. Festive goodies used to be my favorites but not anymore as I realised I could derive the same satisfaction with a smaller budget. As I have reached a third of my expected lifespan, I need to start taking care of my health by avoiding such foods.
I also did not celebrate Valentines' Day as I think it is really just another ordinary day. If you wish, any day could be Valentines' Day. It seems to me it is a trap designed to rip off consumers with over-priced flowers and goodies.
I share deep insights in investing and finance and my journey towards a multi-million-dollar net worth for early retirement.
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