FeedTheFam.com

What do you think about image versus frugality?

I have been thinking about the dichotomy between keeping up a successful image and being frugal. On the one hand, I think it is important to project success in order to be successful. This is for two reasons: 1) so you yourself can believe that you are and will continue to be successful and 2) so that others will view you as a success and thus be more willing to come to you first when a job needs filled, a project needs done, etc.

And how do we project a successful image? Well, for a lot of people that will come not only from their personality but also from their visible material possessions like cars and clothing. That has got to be the reason that people spend so much money on those things when you could get very acceptable cars and clothing for much cheaper (think a Civic over a Beamer). For those of us in various types of self-employment, many of our clients would not want to do business with us if we drove around in a beat-up, lime-green car. Indeed, it would project the idea that “nobody else does business with us so why should you”?

On the other hand, very successful people sometime drive around in beat-up cars! I once knew the owner of a big engineering firm that eventually got bought-out for a large sum. The guy drove around in this thing that was probably 25 years old and he did all of the maintenance on it himself. So he was both frugal and successful but if you met him on the street you certainly wouldn’t know it. Would you do business with him? Well, these are my thoughts on the matter for now. I don’t know where I stand on this. Probably somewhere in between. There’s also a line between being frugal and being disrespectful of yourself (like not bathing or eating cheap and unhealthy food when you could easily afford fresh fruits and vegetables) that I wouldn’t want to cross. How about you?