Tuesday, May 24, 2011

Frugality and Saving

To me, to be frugal means to save. Not just on each purchase (i.e. getting something for 20% off), but for the long-term. My husband and I are savers. Our monthly budget includes lines for: retirement accounts; college funds (529 plans); health savings account; and long-term savings for future goals. And we move heaven and earth to max out savings in each account every year.

So, as a saver, I was delighted to read this story about a recent Wisconsin lottery winner. After wining $1 million dollars, which worked out to a lump sum distribution of $672,500, he bought himself an $8,000 lawn mower, paid off his mortgage, and put the rest in the bank for retirement. He plans to return to work, as normal, as a machinist.

Smart. I love reading about something smart in the news. Hats off to another "saver", may he enjoy life knowing he has money in the bank.

1 comment:

  1. $8000 lawn mower?? What does it do, arrange shredded grass in bundles, tied and ready for a vase?

    (I agree, I was just momentarily amused at how different our splurges are!)