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Wednesday, February 24, 2016

The Cranky Cheapskate


The Cranky Cheapskate
I am a cheapskate.  I admit it. Guilty.  Mea Culpa.   eap with a capital CH!

How cheap am I?

When I was seven years old, I had managed to save $3.50.  I was going to put it in the bank. 

(In those days the local bank came to school and everyone in first grade opened an account with a dollar.  We all had bank books, learned about interest and even got a little canvas bank bag for bringing in deposit loot.)

Anyway, I was going to deposit this $3.50 when I spied with my little eye in the toy store window, a beautiful realistic looking cap rifle.  I really wanted that rifle.  My mom advised me that it was my money, that I should bank it, but if “You really want the cap rifle…”

I bought the cap rifle.  I liked the cap rifle and got hours of play time out of that rifle for about a month.  I don’t know what happened to the toy gun.  It didn’t break and I didn’t lose it, I guess I just out grew it.

Here is where I demonstrate just how cheap I am.  For years, sixty-three at this point to be exact, I have lamented spending that $3.50.  I should have saved it.

They say that money conservatively invested and diversified should, on average, double every seven years.  In sixty-three years, that $3.50 would have doubled nine times.  Three dollars and fifty cents doubled nine times equals $1,792.

Currently I want to upgrade my guitar to this:

 Martin 000-17sm sold at my local Guitar Store at $1,750.

Coincidence? I think not.

If only I had banked that $3.50 instead of splurging on a toy those many years ago when I wasn’t so cheap.

19 comments:

  1. I should introduce you to my grandson. From the time he was four, he split his pocket money, putting half in a jar to save for later and the other half in a locked tin. The savings jar was kept for things he wanted and there wasn't much so the savings just grew and grew, the locked tin was for his future. He's 20 now and almost has enough for a deposit on a home of his own.

    On the other hand, you did get a whole month of enjoyment from that $3.50 cap gun.

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  2. We have a saying here, usually uttered by exasperated parents ... 'he won't be told'. It was said to me many times, except an 's' was added to 'he'...

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  3. I wonder if people are born "thrifty" or if it's an acquired
    habit.

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  4. let it go, cranky! just let it go!

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  5. Seems to me you screwed up by not buying that Martin 000-17sm for $3.50 back when you were 7 years old. You'd be happy today and wouldn't have lamented your purchase.

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  6. I think you learned a lesson from that $3.50 rifle; probably helped you to get to the cheapskate that you are today. Comparing the two, the rifle and the guitar, the guitar has the potential to go up in value; I don't think the rifle did :)

    betty

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  7. You could buy it on time. The future value of longing is quite high, I believe.

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  8. I can't believe you got through that post without saying someone warned you that you'd shoot your eye out.

    Go for the guitar anyway.

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  9. Might funny coincidence! I had never heard of the school banking thing until my oldest started kindergarten. They phased it out by the time she was in second grade.

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  10. I made it this far. Got my fingers crossed.

    I don't think banking that $3.50 would have helped you with your new dream. I'm just saying.

    Does Mrs. C call you cheap? If she does then we all know the problem.

    Have a fabulous day. ☺

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  11. Yikes, I remember those accounts and am pretty sure we moved without closing mine out. Mine was $5 for 70 years--now all I have to do is find it. If I find it, I'll give you half for the guitar since without you, I'd have never remembered it.

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  12. If you have $1750 in a bank account, take it out NOW and buy that guitar! Because over the last year, my sister and I only made $.33 in interest on $3500 that we had to put in an account from my mother's estate.

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  13. I'm far cheaper than my Mrs. C. Probably because she's always made more money than me and feels more comfortable spending it.

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  14. Just remember, Cranky, that (supposedly) happiness has nothing to do with money. IMO when we are old (our age), we'd better get what we want if we have the money. There won't be a lot of time left for us to regret spending it!

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  15. The fact is, you would have spend it on something else by now. Not that the news will make you feel better...

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  16. Interesting...I feel the same way about some purchases (though not about anything from when I was such a little kid). I became very careful about spending money as an adult (it's not "cheap," Cranky, we call it "frugal"). Whenever we had lentil soup more than once a week, my kids would know: Mom's saving up for a new camera. Hehehe.

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  17. Oh, isn't that always the speech. "Just think, if only you had saved that . . ."

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  18. I'm impressed that the bank came and tried to teach kids to save.

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