As I have mentioned in other Living Frugally posts, there are several misconceptions about frugality and frugal people. One of my ‘favorites’ is that frugal folks are “too greedy to spend money.”
The masses have been convinced that frugal people spend as little as possible because we can’t stand to part with money. How wrong they are!
On New Year’s Day, which is also my wife’s birthday, my wife and I enjoyed a laid back drive around town. We visited a few stores including two antique shops. In one of these shops I came across a nice pair of Dr. (Doc) Martens shoes. I had never owned a pair but discovered they fit really comfortably.
My wife then educated me on how well-made they are, mentioning that she had never met anyone who succeeded at wearing out a pair of these high quality shoes. I asked the store manager to check the price for me and learned that a brand new pair of the exact shoes I tried on would cost around $300.
The important question is, “Would it be frugal of me to purchase a three-hundred dollar pair of shoes?”
The fact is, I’m rough on my shoes. I don’t like being home a lot. I’m an active person and as a businessman, public speaker, etc., I’m in my shoes a lot. I’m in the market for a new pair about every two years at most. That’s $660 between now and my sixtieth birthday if I purchase one pair every two years. (not including inflation).
Is it greedy to expect the highest quality in return for your hard-earned wages? Is it greedy to choose to spend less in the long-term while enjoying the highest level of craftsmanship? Of course not, it’s not greed it’s frugal…aka smart living!