I've lost my nest egg due to medical expenses, and I have had a "buy only what's necessary" approach for several years now. I was raised in a thrifty household, so I know how to save money. I still have a mortgage on my condo, a car loan, and exorbitantly high property taxes. I have a great credit rating. I charge everything, and pay my entire bill every month, so no interest charges. I use credit cards with points, and I use the "cash back" option, which goes directly into my checking account. I buy 2nd hand clothes most of the time, don't go out to eat, and cook from scratch at home. Hubby and I share a car, which he needs for work 5 days a week, so that helps to avoid shopping unnecessarily. I have a weakness for quality yarn (I knit), but I am forcing myself to make use of my yarn stash before I purchase any more yarn. Another temptation is hand-crafted jewlery, but I look at all the earrings that I already have, and tell myself, "no more." I am really trying to declutter my small space. I am happy living minimally. Just wish we had money for things like vacations.