Cheapskates Often Pay More

kskboys

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My Dad loved value but I do think he was cheap on some things. He would wait for sales on his booze and buy 1.5L of off brand liquor but he was a mixer so I guess it doesn't matter that much; however, he never stopped busting my balls about my "extravagances" when he could get his shots in. He was a bit of enigma, he bought 2 Mercedes and top end Lexus and had a Rolex with all the diamonds but if my Mom didn't buy his clothes, he'd have bought the cheapest stuff he could find.

The lesson of perceived value turned the tables on him one Christmas Eve when I was on the patio smoking an Opus X cigar that I'd reserved for this special occasion. He came out to join me and I offered him a stogie and he declined. I had poured him a glass of The Balvenie 15 and he added sprite to it, if that gives you some idea of his tastes. So, as we're sitting there I know it's coming, he's dying to ask me how much I paid for the cigar. He already asked me what made the scotch special and when we got to the price, his silence screamed in my head.

So, a moment of silence before he pops the question. "So, how much did that cigar set you back"? Not how much is it, how much did it set you back? I felt like saying "it's pricey but the kids don't need to eat this week, they've had all that Christmas stuff". But I just answered 50 bucks but it's a special occasion. I should have just said "hey, found those documents you keep with your guns and I know I was adopted". The look of incredulity on his face was priceless, wish I'd said $100. "For one??? I paid that for a box back when I smoked cigars".

OK, I'd been waiting for this, I came prepared and had worked up an analogous situation to make the point. This was especially important to me as I was a golf orphan where my Dad was concerned and it's been a problem all of my life, even today. "How much do you pay for one round of golf at all of these fancy schmancy golf courses you and Mom go to?" "That's different, that's a vacation and a once or twice in a lifetime opportunity". "How many times have you done that"? I had him, it was a goal of his to play the storied courses and they'd played all of them in the US and Bermuda. "I bought two of these cigars and I am smoking one of them now, would you like the other?

I didn't wait for an answer and produced the stogie in question and handed him the cutter and lighter. He was shocked as he realized I had come prepared to share one with him. After taking a couple of puffs, he said "that's one hell of a cigar but I don't know if it's worth $50". I replied "yours is probably even better because you didn't pay $50 for it". About two inches into the cigar he said "I can see why you save this for a special occasion". I said yep "nothing like a $50 cigar to go with a $100 scotch and Sprite".
Awesome story!!!!!!

Everyone has their little vices, the stuff it's OK for them to waste money on. Mine? Casinos. I've had convo's w/ several of my wealthy customers about it. Funny part is, the biggest wastrels I've ever known couldn't understand why I go to casinos. These people would simply buy buy buy, anything and everything. Many times over the years I'd throw away stuff w/ the price tag still on it.

The general attitude is one of extreme disdain toward me wasting money on a vacation, but it was OK that they wasted money!!!!!!!!!!!!!!!!!!!! Got a kick out of it!!!
 

CouchCoach

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Awesome story!!!!!!

Everyone has their little vices, the stuff it's OK for them to waste money on. Mine? Casinos. I've had convo's w/ several of my wealthy customers about it. Funny part is, the biggest wastrels I've ever known couldn't understand why I go to casinos. These people would simply buy buy buy, anything and everything. Many times over the years I'd throw away stuff w/ the price tag still on it.

The general attitude is one of extreme disdain toward me wasting money on a vacation, but it was OK that they wasted money!!!!!!!!!!!!!!!!!!!! Got a kick out of it!!!
Yep, it's transferring another's value perception to that of our own.

The truly cheap people I have known take pride in it. And some can fool you.

I had an aunt that was well off but knew how to pinch a penny for change, we'd laugh about it. She'd drive 50 miles to save a penny on gas and then brag about it and was the source for all cheap gas within 50 miles. We all thought she was cheap until she passed away. We discovered that she'd been a strong supporter of 5 charities for years, mostly animals and children. Those charities knew a different lady than we thought we knew and she was anything but cheap.
 

Runwildboys

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My Dad loved value but I do think he was cheap on some things. He would wait for sales on his booze and buy 1.5L of off brand liquor but he was a mixer so I guess it doesn't matter that much; however, he never stopped busting my balls about my "extravagances" when he could get his shots in. He was a bit of enigma, he bought 2 Mercedes and top end Lexus and had a Rolex with all the diamonds but if my Mom didn't buy his clothes, he'd have bought the cheapest stuff he could find.

The lesson of perceived value turned the tables on him one Christmas Eve when I was on the patio smoking an Opus X cigar that I'd reserved for this special occasion. He came out to join me and I offered him a stogie and he declined. I had poured him a glass of The Balvenie 15 and he added sprite to it, if that gives you some idea of his tastes. So, as we're sitting there I know it's coming, he's dying to ask me how much I paid for the cigar. He already asked me what made the scotch special and when we got to the price, his silence screamed in my head.

So, a moment of silence before he pops the question. "So, how much did that cigar set you back"? Not how much is it, how much did it set you back? I felt like saying "it's pricey but the kids don't need to eat this week, they've had all that Christmas stuff". But I just answered 50 bucks but it's a special occasion. I should have just said "hey, found those documents you keep with your guns and I know I was adopted". The look of incredulity on his face was priceless, wish I'd said $100. "For one??? I paid that for a box back when I smoked cigars".

OK, I'd been waiting for this, I came prepared and had worked up an analogous situation to make the point. This was especially important to me as I was a golf orphan where my Dad was concerned and it's been a problem all of my life, even today. "How much do you pay for one round of golf at all of these fancy schmancy golf courses you and Mom go to?" "That's different, that's a vacation and a once or twice in a lifetime opportunity". "How many times have you done that"? I had him, it was a goal of his to play the storied courses and they'd played all of them in the US and Bermuda. "I bought two of these cigars and I am smoking one of them now, would you like the other"?

I didn't wait for an answer and produced the stogie in question and handed him the cutter and lighter. He was shocked as he realized I had come prepared to share one with him. After taking a couple of puffs, he said "that's one hell of a cigar but I don't know if it's worth $50". I replied "yours is probably even better because you didn't pay $50 for it". About two inches into the cigar he said "I can see why you save this for a special occasion". I said yep "nothing like a $50 cigar to go with a $100 scotch and Sprite".
LMAO!
 

InTheZone

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Gotta love the people who have zero experience and hands on with an issue, but somehow know better when advice is given

Also getting a second opinion from someone else with expertise if you have your doubts is helpful.
 

65fastback2plus2

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Ummmmm....don't really agree. Aside from a few exceptions, most mil/billionaires got there by wise investments, money management, building up a busines or three, stuff like that. Often they are frugal due to the extreme high value the put in having a lot of money. They value it highly.

Warren Buffet still lives in like his original house. Being frugal is indeed how most got there. Had he rocked some mansion back in the day, what money is there to invest? Disposable income makes investing...living frugal increases disposable income.
 

kskboys

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Gotta love the people who have zero experience and hands on with an issue, but somehow know better when advice is given

Also getting a second opinion from someone else with expertise if you have your doubts is helpful.
Good one. I can't even begin to tell you the countless times I've listened to a customer tell me how their grandson/boyfriend/friend/cousin told them I was doing it wrong. And their answer was almost always amazingly stupid!!!!!
 

kskboys

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Warren Buffet still lives in like his original house. Being frugal is indeed how most got there. Had he rocked some mansion back in the day, what money is there to invest? Disposable income makes investing...living frugal increases disposable income.
Completely disagree. Buffett is rich because he wisely invested his money.
 

65fastback2plus2

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Completely disagree. Buffett is rich because he wisely invested his money.

have to be frugal to have money to invest.

If I have $10k and I buy a $1000 1980 honda civic, I had $9k to invest

If I have $10k and buy a $9500 F150, I have $500 to invest

which one produces the investment reward?
 

Runwildboys

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have to be frugal to have money to invest.

If I have $10k and I buy a $1000 1980 honda civic, I had $9k to invest

If I have $10k and buy a $9500 F150, I have $500 to invest

which one produces the investment reward?
Unless you plan to keep the vehicle until it's worth more than you paid for it, it's not an investment.:)
 
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