Making the adjustment from being cheap to frugal?

[daveinIL]

Our Ch 7 was discharged a year ago in Aug, and we are in the lucky position of both myself and my wife having good jobs, and we find ourselves having difficulty making the move from being "cheap" (i.e. we have no money, so we just can't buy/do stuff) to being "frugal" (i.e. we do actually now have money!)

This really hit home with us recently when my wife's van needed repair work. The dealer estimate was fairly high, and the initial shock nearly sent us into a panic that it was too expensive, and we can't afford it, and OMG what will we do without a reliable vehicle, and, and, and.......deep breath.

Then, we realized after sitting doing and doing the math with how much cash we have on hand, and the importance of having a reliable car for her and our four year old son that we COULD pay for the repairs, and that it was a wise expense that we needed to pay.

So I'm really just throwing this out there as a topic of discussion....not really a question to be answered.

[Pjmax]

I don't know about the transition, I've resigned to the fact I'll probably be poor from here on out. But, you didn't just blindly jump on paying that repair bill, you took some time and thought it through. I don't think you want that to change. Good job!

[tobee43]

ahhhhhhhh Pj...you are rich in heart so you will always be wealthly!

making financial decisions are important, many times they make or break it for our future. daveinIL...good for you as Pj points out, for thinking before spending.

best of luck you will do great! and, pretty soon even start saving!!! i promise it happens.

[kornellred]

If you and your wife both have good jobs, then adequate transportation should never be a problem. Financing after Chapter 7 is ridiculously easy - just get another vehicle if the van is not worth fixing. Don't expect a favorable rate, however. Auto financing is a racket to begin with, so budget for the payments and forget about percentages.

[frogger]

ahhhhhhhh Pj...you are rich in heart so you will always be wealthly!

That is 100% correct. "Poor" is a state of mind. While wealth is something that would nice to have, I refuse to be poor.

[Pjmax]

That is 100% correct. "Poor" is a state of mind. While wealth is something that would nice to have, I refuse to be poor.

Thanks Tobee and Frogger! I'll remember that.

[Sammie]

PJ you are one of the sweetest persons that I have had the pleasure of meeting. sammie

[Pjmax]

Thanks for the love Sammie! Right back to ya!

[tobee43]

Love fest!! Lol!!!!

[daveinIL]

If you and your wife both have good jobs, then adequate transportation should never be a problem. Financing after Chapter 7 is ridiculously easy - just get another vehicle if the van is not worth fixing. Don't expect a favorable rate, however. Auto financing is a racket to begin with, so budget for the payments and forget about percentages.

While obtaining financing might be "easy" it is still something that I am unwilling to do. New cars have always been a questionable investment IMHO and since I am still in an anti-credit mood, it's really not an option. We were able to pay cash for the repairs, and the van is now in perfect working condition. Took it on a 1500 mile vacation a couple weeks ago, and will be taking it on a 2800 mile vacation in two weeks.

[Voyles]

That is 100% correct. "Poor" is a state of mind. While wealth is something that would nice to have, I refuse to be poor.

True, true

[Eguy]

While obtaining financing might be "easy" it is still something that I am unwilling to do. New cars have always been a questionable investment IMHO and since I am still in an anti-credit mood, it's really not an option. We were able to pay cash for the repairs, and the van is now in perfect working condition. Took it on a 1500 mile vacation a couple weeks ago, and will be taking it on a 2800 mile vacation in two weeks.

True, it's easy but, not advisable. I will run my cars into the junk yard before I buy another on credit. I have been in the anti-credit mood since 2011. I filed in August 2012 and discharged a 7 in Nov. 2012. Now, I save, save, save. The next car will be the best one I can find for the cash I have onhand. I reaffirmed one creditor, a credit union, because they have always been good to me. I can still borrow $$$ from them but, NO!! If I don't have the cash, I don't need it.

[mbschwegel]

I know what you mean! We are having some concerns about spending money after our Chapter 7 discharge. It seems so surreal after agonizing over every penny spent to now having enough money to pay for anything. Now we understand our grandparents' view of finances from the great depression.