OPINION: The 'financial independence, retire early' movement is too frugal for me, Richard Quinn writes. I don't want to commit to never traveling, eating at restaurants or owning a car.
I regularly read blogs written by those who retired early to a life of ultrafrugality. Do you consider yourself careful with money? Even so, I doubt you’d enjoy the frugal lifestyle of many followers of the FIRE movement.
And, no, I’m not trusting my eyeglasses to an online service to save money. Don’t get me wrong: I shun designer frames and designer everything else. I lean toward frugality. I avoid impulse shopping, buying the latest trendy thing and accumulating unnecessary stuff. Still, you usually get what you pay for. Have you ever read about the things you should never buy from a dollar store?
Don’t get me wrong: I’m not mocking these frugal folks, nor am I being a snob. But it’s important to understand the lifestyle necessary to be financial independent if you’re living on a tiny budget. One blogger claims to have lived on $7,000 a year or less for a decade. Another says his family of five lives on $40,000 a year and spent just $296 on groceries in March. The U.S. Department of Agriculture puts a low-cost grocery plan for a family of four at $892.90 per month. Even a thrifty food plan is estimated at $676.80 per month.
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