The Evolution of a Thrifty Miser

Last week my grandfather passed away.  His demise was not a surprise to my brother and me.  We placed him in a nursing home in 2011 after his dementia started threatening his well-being, but since the start of this year his health started declining rapidly.  At 86, he lived a long, productive life.

My frugal ways have been heavily influenced by how my grandparents lived.  One generation removed from their German roots, a strong work ethic was always obvious when we visited as kids.  My grandparents moved to a small lake town in Alabama from a rural town just outside Omaha when my grandfather's company offered him the supervisor position at the local feed mill.  They built a house and stayed in that house their entire lives.

After his day job was over, my grandfather did side jobs.  Lots of them.  He was the maintenance supervisor at the local marina, building docks even though he couldn't swim and was scared of the water.  He also was the maintenance person at the shopping center his lawyer friend owned.  He cut grass for most of the neighbors on his street.  He wasn't afraid to put on a new roof, build a shower, or add an enclosed deck to a house.  When I bought my first house at the age of 18, he came down to Birmingham nearly every day for two weeks to help me remodel the bathroom.  I use the term "help" loosely:  other than handing him the tool he needed or driving to the hardware store for supplies, I was mostly an observer.

For fun, my grandfather loved to bowl.  The vacations my grandparents took were usually to attend tournaments.  Granddad won hundreds of competitions over his career.  I'm sure the prize money helped to subsidize their trips.  Eventually, in the late 80s, my grandfather and three of his friends opened a bowling alley. It was awesome going there growing up.  There were the batting cages, the go cart track, the mini golf and the arcade.  We didn't use the driving range.  By investing in his hobby, my grandfather was able to enjoy bowling whenever he wanted at minimal cost.

Now that I have had a few days to reflect on his life, I realize where my own habits started.  It's funny that it never occurred to me before.  Between my own father and my mother's father, I learned how to live a good life that doesn't cost much to live.

Where do you get your inspiration?

Making a Vacation From Mystery Shopping

Mom and I are headed to Gatlinburg

I don't have a close relationship with my Mom.  I moved out when I was 15 and over the years ours has been an on-again, off-again relationship.  So when I had the opportunity to sign up for a timeshare mystery shop in the Smoky Mountains, I jumped on it.

Quality time with Mom doesn't have to mean extravagant spending.  It's about our time together; not how much we consume on trinkets and themed restaurants.  Fortunately, I've been able to assemble a number of mystery shops to mitigate the cost of our trip while adding a little entertainment.

• The timeshare is a simple shop:  I have to attend and record a two hour sales meeting.  Our stay is for four nights, and the rest of the time there belongs to me.  There is no property or customer service component of the evaluation.
• I've been assigned three entertainment shops:  a miniature golf outing, 4D theater showing and museum.
• Some but not all of the gas will be provided from shops and audits.
• At least one of our meals will be provided by a shop at a themed restaurant in Gatlinburg.

Our trip looks to be a relaxing getaway.  I am not spending entire days working, but instead chose to carefully select a few jobs to add to the fun.  I leave for Birmingham on Thursday but spend the night in Georgia shopping a mid-range hotel, which includes dinner and breakfast the next morning.  We check into the resort this weekend.

My Frugal Miser - March Expenses: $3,897

My total expenses in March were $1,000 more than in February.

It was only a matter of time before my car started needing service.  I spent $471 last month on a few repairs.  As long as it costs less to maintain the Corolla I will keep it.  I also had to pay an annual maintenance fee of $210 for my self-directed IRA.  This IRA allows me to buy real estate and I like the returns and control versus stocks or funds.   Then there's the more discretionary stuff.  I splurged on a nice pair of Allen Edmonds loafers.  They were originally $345 but were marked down to $166.  The company has a "recrafting" program that will allow me to send in my worn shoes as needed for repairs.  Finally, I splurged on a Samsung Chromebook that will eventually replace my laptop, which has been acting funny - freezing up, crashing, overheating, etc.  I wanted to be proactive about replacing it while it still works.

March Personal Expenses ($2,264)

$515 Auto ($471 for 6 months insurance, $44 for fuel)

$210 Bank Fees
$166 Clothing
$18 Entertainment (movies, gambling, alcohol)
$102 Food
$0 Gifts Given

$844 Household/Housing/Home Repair
$159 Health and Dental Insurance

$92 Medical/Dental
$76 Miscellaneous
$0 Personal Care

$0 Subscriptions
$0 Taxes

$82 Utilities
$0 Vacation and Recreation

March Business Expenses ($1,633)

$1062 Mortgage Interest (rental properties)
$148 Interest on Debt (not including Mortgage Interest)
$423 Rental Properties - Maintenance and Repairs


Total March Expenses : $3,897

Notes

• I don't include principal payments in my expenses, only the interest portion of the monthly mortgage bills.
• I expect Auto Service expense to continue to rear its ugly head.  The Corolla has nearly 170,000 miles on it.

My Frugal Miser - March Income: $8,154

March was a good month, but I expect April to be even better for two reasons.  First, I am evicting a deadbeat tenant.  It is possible I will have him evicted and a new tenant found by the end of the month.  Second, I did so much mystery shopping in March that my out of pocket spending negatively affected my income last month.  That spending will be reimbursed in April and the number will be a good bit higher.


March Income

$931 Mystery Shopping
$7,146 Rental Income

$77 Other Sources

$8,154 Total Income for March

Notes:.  

• I don't include transactions in my retirement accounts.  This includes rental income, dividends and capital gains and losses.
• I include merchandising and hospitality work in the mystery shopping category since the companies that I shop for provide this extra side work.