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January 11, 2017

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I couldn't agree more with this idea of selective indulgence. I try to live on a pretty tight budget compared to others by choice. This allows me to be selective in indulging in others things in life. For example all my coworkers give me a hard time for not going out to eat every day with them...I feel like its a waste of money. But I have no problem spending $7,000 to go on a Hawaiian vacation, of which I leave next week for. Being purposeful with your money is the key to becoming wealthy!

I would extend that rule to OPM ('other peoples money'). For employees that's company funds, and for executives that's shareholder profits.

Where I work travel expense accounts are moving away from per diem to covering everything up to a set limit that's pretty high IMO. I have a feeling they're going to be surprised by how close everyone's tab will be to the ceiling.

There are literally thousands of people who have expressed this principle AND have lived it...Warren Buffet among others. Many of them have compelling stories. But you choose "the Trumps" instead -- a family known more for having gold-plated toilets than their selective frugality -- and then claim this is not political!?

And then the kicker: "perhaps this is one way they built their wealth" (!!). I can think of several different ways they built their wealth, and selective frugality doesn't crack the top 10...unless stiffing contractors counts as selective frugality, which I guess one could argue.

Thank you for pushing me off the fence about whether this blog continues to provide value. It hasn't for awhile, and I'm now unsubscribed.

@HN

Thank goodness! You're best off somewhere else where you can simply read about things you already believe.

Warning: This may NOT be a political post, but someone will turn it into one.

I think it'sall about prioritizing what's important to you. For example. Mr. Picky Pincher and I got rid of a car payment but still indulge at a nice restaurant a few times a year. You can still have and do nice things while paying off debt; it's just about what matters to you more.

I agree with this lesson completely. When I was a child I had a similar experience where my dad made me purchase a treat from an ice cream truck, but with my own money. Not quite as luxurious of a story as the trumps, but lesson learned none the less!

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