What do you do with all the Money you Save?

Posted by Mrs Money on October 13th, 2009

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While I was in Michigan last week, I had the opportunity to spend a lot of time with my 20 year old sister. It was awesome, because we really don’t get to spend much time together with me living so far away from her. We were talking about things, and she asked me a question that threw me for a loop. “What do you do with all the money you save? You’ve mentioned quite a bit that you do certain things to save money, but what exactly is is that you do with all the money you save? Why not just spend and live life?”

Wow. Keep in mind that we grew up with the same thrifty mama.

I think what made her so curious was that I told her to pull into the parking lot that had all the rvs for sale. I told her that if we lived in an rv, we would save so much money.  I guess she didn’t think it was as cool as I did.

I basically told her that it’s essential to keep around 6 months worth of living expenses in a savings account as an emergency fund, save for retirement, and just have the peace of mind knowing that you have money.  I told her that we save for various reasons and that even though I may save money by making my own laundry detergent, I don’t necessarily take the difference and put it in savings.  I just like knowing that I didn’t give another large company more of my money.

It was kind of an odd question, but then again, I need to realize that not everyone is frugal.  There are people that enjoy getting cappuccinos every day, buying things for their vehicles, and not thrift shopping.  That’s fine.  Everyone is different, and it’s nice to see how others value their money.  I think it’s really funny to think that we grew up in the same household and have such different views on saving money.  To each their own!

At least she didn’t call me Scrooge.

What do you tell people when you get asked about why you save money/live frugally?

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9 Responses to “What do you do with all the Money you Save?”


  1. The most grief I get is for verbalizing my desire to rid ourselves of credit card debt. I have gotten looks of annoyance because ours is so “low” in comparison to the other person’s credit card debt. One lady at work has told me straight out it’s “The American Way” to be in debt, and I should just accept it. It’s always very interesting to see how siblings react to childhood teachings. I think your sis might be going through a rebellious period, and she’ll soon enough see the light and embrace you and your mom’s frugal ways. At least she knows HOW to do it, and she has support to be frugal so when she’s ready, it’ll be that much easier for her.

    [Reply]

    Mrs Money Reply:

    That is so crazy people give you crap for trying to get rid of credit card debt. I don’t know why they would! I am sure my sister will come around. She’s still young. :)

    [Reply]

    Amy K. Reply:

    My high school/college boyfriend was of the view that debt was normal, and expected to be paying his whole life. In contrast my parents paid off their mortgage before he and I started dating and only took on a car loan once, in order to have more of a credit history, and paid it off within a year.

    That relationship was a real window into how a large part of the population thinks. I’m glad I’ve taken after my parents. I think of him every once in a while and wonder if adulthood has changed his view at all.

    [Reply]

  2. Catherine says:

    I tell people (including my boyfriend) that I save money now so I don’t have to worry about it later. Being worry-free is the best part of it for me! Plus, all the fun ways to save money are my hobbies (ie, cooking from scratch, canning, couponing, etc).

    [Reply]

    Mrs Money Reply:

    I 100% agree! A lot of the things I do, I do because I enjoy them. If I didn’t, I would not do them! :)

    [Reply]

  3. Miss M says:

    Well we all need money to live, currently that is supplied by our jobs. But who knows what the future holds, we may not be able to or want to work at some point. What if one of you wants to stay home with the kids, or take a more fulfilling but less lucrative job? Saving money and living below your means makes those dreams a possibility. Some people embrace these concepts, others choose to live for the day. For the latter group, unless they die young at some point they will wish they had saved. Unfortunately most people don’t realize this until it is too late. I know at 20 saving money was the last thing on my mind!

    [Reply]

    Mrs Money Reply:

    Since she lives at home, I guess she’s not too worried about it. She actually just quit her job too. Oh, to be young again. :) haha

    [Reply]

  4. I simply tell them that a youth well spent is your golden years earned. <3

    [Reply]


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