Extreme Cheapskates

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
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wshang
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Extreme Cheapskates

Post by wshang » Thu Dec 05, 2013 7:55 pm

A new series on Netflix profiles self-proclaimed and unabashed cheapskates showing off their lives. One, a Victoria in episode five is said to be by her boyfriend to be a millionaire. In case you haven't seen it yet, it is a case study of how far extreme saving behavior might be. (One wonders when it comes to investing, have they learned the BH way?!)
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kramer
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Re: Extreme Cheapskates

Post by kramer » Fri Dec 06, 2013 5:42 am

I have to admit, I really enjoyed watching this show and so have others who saw it at my house. I think they only did 6 episodes.

Personally, I think all the people they profiled go way too far in the direction of frugalness, to the point of a sickness. After all, it is *extreme* cheapskates.

mhalley
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Re: Extreme Cheapskates

Post by mhalley » Fri Dec 06, 2013 5:47 am

When I saw a couple sharing dental floss, I knew that it had gone WAAAAY too far.
Mike

YttriumNitrate
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Re: Extreme Cheapskates

Post by YttriumNitrate » Fri Dec 06, 2013 6:32 am

From the episode or two I saw, it seemed like most of the people were living alone in part due to their cheapness and odd ways. That all seemed penny-wise and pound foolish because having a roommate would generally save them much more than all their extreme habits.

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Re: Extreme Cheapskates

Post by Call_Me_Op » Fri Dec 06, 2013 6:50 am

I watched a few episodes. The folks profiled are way too extreme - sacrificing their health (e.g., eating cat food, eating food/obtaining medications from dumpsters, participating is dangerous medical experiments) just to save/make a few bucks. I was appalled by their behavior.
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JoMoney
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Re: Extreme Cheapskates

Post by JoMoney » Fri Dec 06, 2013 7:03 am

Thanks for the tip. I'll have to check it out. It's interesting to hear about people like Hetty Green
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sunnyday
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Re: Extreme Cheapskates

Post by sunnyday » Fri Dec 06, 2013 9:40 am

mhalley wrote:When I saw a couple sharing dental floss, I knew that it had gone WAAAAY too far.
Mike
That is nasty -- I immediately thought, I wonder if they share any other bathroom products (one in particular) :? :-( :!:

Or maybe they just use water instead like in some other countries.

arsenebould
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Re: Extreme Cheapskates

Post by arsenebould » Fri Dec 06, 2013 2:22 pm

This show is so weird. My wife hates it and i like to see people that are so cheap.
I wonder if any of them actively invests in low cost funds. I feel for them vanguard will have to come out with 0.00 ER funds :P

Mill
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Re: Extreme Cheapskates

Post by Mill » Fri Dec 06, 2013 3:03 pm

Penny-wise and pound-foolish for sure. Every episode (except one) shows the cheapskates driving around town in their cars searching for dumpsters and roadkill and other moronic things. Some of the cheapskates are even petty criminals. One guy asked for every sample of ice cream flavor in a store, then ate them all and told the proprietor he was full and that he wouldnt be buying any. One cheapskate squats in an unoccupied house owned by one of his classmates, then charges his friends rent to live with him.

I think most of the show is staged. Ive seen every episode of it and you can tell the producers always force the cheapskates to do something entertaining and tv friendly, like plan a birthday party, or go on a date or take the family out to eat at a nice restaurant. Then the cheapskates make a big production about the idiotic things they do to save miniscule amounts of money while going through a ton of hassle and adding serious inconvenience to innocent parties in order to complete the task.

Trash tv, but for some reason, I cant stop watching. :x

lisaac
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Re: Extreme Cheapskates

Post by lisaac » Fri Dec 06, 2013 3:08 pm

sunnyday wrote:
mhalley wrote:When I saw a couple sharing dental floss, I knew that it had gone WAAAAY too far.
Mike
That is nasty -- I immediately thought, I wonder if they share any other bathroom products (one in particular) :? :-( :!:
Yes they do... One family uses reusable old towels to do exactly that...
Mill wrote:Penny-wise and pound-foolish for sure. Every episode (except one) shows the cheapskates driving around town in their cars searching for dumpsters and roadkill and other moronic things. Some of the cheapskates are even petty criminals. One guy asked for every sample of ice cream flavor in a store, then ate them all and told the proprietor he was full and that he wouldnt be buying any. One cheapskate squats in an unoccupied house owned by one of his classmates, then charges his friends rent to live with him.

I think most of the show is staged. Ive seen every episode of it and you can tell the producers always force the cheapskates to do something entertaining and tv friendly, like plan a birthday party, or go on a date or take the family out to eat at a nice restaurant. Then the cheapskates make a big production about the idiotic things they do to save miniscule amounts of money while going through a ton of hassle and adding serious inconvenience to innocent parties in order to complete the task.

Trash tv, but for some reason, I cant stop watching. :x
Spot on! Such trash and obviously staged but still interesting.. Don't know why..

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Dutch
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Re: Extreme Cheapskates

Post by Dutch » Fri Dec 06, 2013 3:11 pm

I'm too cheap to watch this show on Netflix

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stemikger
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Re: Extreme Cheapskates

Post by stemikger » Fri Dec 06, 2013 3:39 pm

wshang wrote:A new series on Netflix profiles self-proclaimed and unabashed cheapskates showing off their lives. One, a Victoria in episode five is said to be by her boyfriend to be a millionaire. In case you haven't seen it yet, it is a case study of how far extreme saving behavior might be. (One wonders when it comes to investing, have they learned the BH way?!)
These people are not cheap, they are crazy!! In episode 1 there was this woman Kate who fed her guests food from a dumpster. :oops:

This show is one of my guilty pleasures and like all reality television you really have to take it with a grain of salt. However, even if half of what these people do is true, they are not cheap, they are insane. They really miss the point. I learned years ago, living below your means does not mean cheap and being cheap does not mean you will be rich. I always did the right thing with my money, but because I took care of all the big stuff, I never had to deprive myself or my family.
Choose Simplicity ~ Stay the Course!! ~ Press on Regardless!!!

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Summit111
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Re: Extreme Cheapskates

Post by Summit111 » Fri Dec 06, 2013 4:00 pm

Fellow Bogleheads,

The show is obviously staged...if you believe Swamp People catch Alligators exactly as depicted on TV, then you may believe Extreme Cheapskates.

Too many "Fake" reality shows...House hunters, Cajun Justice, etc...

Summit

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cheepsk8
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Re: Extreme Cheapskates

Post by cheepsk8 » Fri Dec 06, 2013 6:04 pm

These people seem to live well below their means but that's only half the equation. It'd be interesting to see if they also invest in low cost index funds in a tax efficient manner, otherwise all this penny pinching is for naught.

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wshang
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Re: Extreme Cheapskates

Post by wshang » Fri Dec 06, 2013 6:11 pm

Yeah, I'm thinking of a similar show for BH's. Each show profiles the BH's determination to avoid getting fleeced by the market and the brokerages.

Imagine the show with me "Bogleheads Extreme!" . . . . Jeff switches accounts every six months between Fidelity and TD to get the $100 bonus money for opening a new account.

Theresa must have a broad market index fund with the lowest ER, switching into those with temporarily waived fees and then back out when they expire.

John sells his mutual fund right before they declare annual dividends and buys back in afterwards.

Woohoo! Extreme Cheapskates could learn a thing or two.

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Re: Extreme Cheapskates

Post by YttriumNitrate » Fri Dec 06, 2013 6:31 pm

wshang wrote:Yeah, I'm thinking of a similar show for BH's. Each show profiles the BH's determination to avoid getting fleeced by the market and the brokerages.
And the finale of each show would be an American Gladiator-esque challenge where two Boogleheads compete to see who can successfully navigate all the traps set up by Mango and gain that elusive 5% (or whatever it is now) interest rate on their checking account.

Hopefully that segment would start with an intro that would put Monday Night Football to shame. :sharebeer

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VictoriaF
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Re: Extreme Cheapskates

Post by VictoriaF » Fri Dec 06, 2013 6:34 pm

wshang wrote:A new series on Netflix profiles self-proclaimed and unabashed cheapskates showing off their lives. One, a Victoria in episode five is said to be by her boyfriend to be a millionaire. In case you haven't seen it yet, it is a case study of how far extreme saving behavior might be. (One wonders when it comes to investing, have they learned the BH way?!)
I must point out that that Victoria is not me.

(different) Victoria
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InvestorNewb
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Re: Extreme Cheapskates

Post by InvestorNewb » Fri Dec 06, 2013 7:10 pm

I saw an episode where one lady searches dumpsters to find food for dinner. She also doesn't wipe herself after using the toilet.

I don't care how much money these people have... they are living worse than homeless people.
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Re: Extreme Cheapskates

Post by hsv_climber » Fri Dec 06, 2013 7:24 pm

VictoriaF wrote: I must point out that that Victoria is not me.

(different) Victoria
I am guessing that it is this Victoria: http://www.early-retirement.org/forums/ ... 61956.html

seamonkey
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Re: Extreme Cheapskates

Post by seamonkey » Sat Dec 07, 2013 1:13 pm

YttriumNitrate wrote:Hopefully that segment would start with an intro that would put Monday Night Football to shame. :sharebeer
I've been meaning to work "tax loss harvesting" in a song.

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Re: Extreme Cheapskates

Post by dgdevil » Sat Dec 07, 2013 3:48 pm

sunnyday wrote:That is nasty -- I immediately thought, I wonder if they share any other bathroom products (one in particular) :? :-( :!:

Or maybe they just use water instead like in some other countries.
A couple of billion people use water. Squat toilets have practical benefits for your digestive system. Just make sure there's nothing in your pockets.

leonardotmnt
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Re: Extreme Cheapskates

Post by leonardotmnt » Sat Dec 07, 2013 6:47 pm

I did see one semi-reasonable person on the show. He was married and I believe he retired early. They had what looked to be a pretty nice house and he biked everywhere instead of driving. (No, he was not Mr. Money Mustache) :) They had a weekly spending fast a few times a year. The only weird thing he really did on the show was look for loose change at the laundry mat and in restaurant seat cushions. He also bought goat heads for dinner with the $7 and change he found but I can only assume he likes to eat them because you can buy something much more normal for that amount of money. He actually seemed like he was just frugal and had reaped the rewards of early retirement. Most of the others I've seen look more like they have a mental illness of some sort. It makes me kind of sad to watch.

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Re: Extreme Cheapskates

Post by Super Hans » Sat Dec 07, 2013 6:54 pm

I just saw this in the gym today. I didn't get how a couple was too extremely cheap to replace their stained carpet but drove a decent-looking Volvo SUV to the carpet store. I don't have a car, but at least I have a clean little apartment! I guess I don't like the show giving extreme cheapskates a bad name.

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JoMoney
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Re: Extreme Cheapskates

Post by JoMoney » Sat Dec 07, 2013 7:08 pm

Super Hans wrote:I just saw this in the gym today. I didn't get how a couple was too extremely cheap to replace their stained carpet but drove a decent-looking Volvo SUV to the carpet store. I don't have a car, but at least I have a clean little apartment! I guess I don't like the show giving extreme cheapskates a bad name.
:thumbsup I haven't had a chance to watch it yet, but if the idea is to paint thrift as being something objectionable, that's a shame.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham

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Re: Extreme Cheapskates

Post by travellight » Sat Dec 07, 2013 7:17 pm

That BH extreme show you describe is very amusing, wshang.

Mill
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Re: Extreme Cheapskates

Post by Mill » Sat Dec 07, 2013 10:45 pm

leonardotmnt wrote:I did see one semi-reasonable person on the show. He was married and I believe he retired early. They had what looked to be a pretty nice house and he biked everywhere instead of driving. (No, he was not Mr. Money Mustache) :) They had a weekly spending fast a few times a year. The only weird thing he really did on the show was look for loose change at the laundry mat and in restaurant seat cushions. He also bought goat heads for dinner with the $7 and change he found but I can only assume he likes to eat them because you can buy something much more normal for that amount of money. He actually seemed like he was just frugal and had reaped the rewards of early retirement. Most of the others I've seen look more like they have a mental illness of some sort. It makes me kind of sad to watch.
Yes, Jeff Yeager. He is the only reasonable "extreme cheapskate" Ive seen. Hes actually the official saving advisor for the AARP.

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