Hmmm. This is a tough one. Frugality has been handed down from generation to generation in my family. When they came to Minnesota Territory in the late 1850's they bought their farmstead for cash from a guy who got it as a reward for fighting in the War with Mexico.
My dad grew up on that farm. My own early memories of the place were that everything needed a new coat of paint. It was old fashioned to the point that they were still hauling milk around in big round cans. Absent a modern, all sealed system they could only sell Grade B milk, for making cheese and such. I didn't realize it at the time, but the farm was locked into a Great Depression sort of mindset. When years later we cleaned the place out there were coffee cans with hundreds - maybe thousands - of buttons in Grandma's sewing area. When clothes got old they were used as rags, the buttons taken off for potential future use. As if your rate of button loss would use up this stash anytime before the 25th century!
That's how my dad grew up, and in most ways that ethos never left him. I have early memories of him shaving. Squeak! turn the faucet for a drip of hot water, turn it off, shave a little section. Then Squeak! get another teaspoon of hot water for the next bit.
But he was inconsistent. He loved cars, especially somewhat gaudy ones with extra chrome. He paid too much for them. When I was, oh, 17 or so I went with him car shopping. The salesman got him very interested in a yellow Ford Galaxy 500. Not a great car, as if the 1970's had many of those, and the asking price was a bit rich. "Dad, try offering him $______ instead". "Really?" He just had no idea of how the world worked other than charging a few bucks for office and hospital calls.
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| Yep, something like this. Ugh, what a pig. |
While cleaning out my parent's house we found various relics of fiscal imprudence. Stock certificates from, iirc, The Las Vegas Gold Exchange. Of course it, and several other companies whose fancy certificates we ran across, went bankrupt, taking the investors money down with them. Down to Mexico most likely.
Perhaps the charitable explanation is simply that money did not matter much to him. Not enough to spend time thinking too much about it.
Eventually all those dollars slowly generated by a solo physician practice did add up. You'd be surprised how much frugality helps in long term financial planning. I suppose when my mom passes a share of it will come my way. And I will immediately hand it over to my kids, his grand kids. Frugality is useful, and money comes in handy, But I also learned from him that some things are more important.

















