Frugality isn't about doing without--it's about choosing what's important. But knowing that is one thing; actually making the right choices day in and day out is another. For that, it helps a lot to have some guiding principals (or, at least, some rules of thumb), and you've provided some good tips.
The most useful words of wisdom about spending actually came from my credit card company. "Distinguish between wants and needs. Be honest." I cut that out and taped it on my card to remind me.
When frugality becomes a lifestyle choice rather than an undeniable necessity, I think it's useful to be generous with the things you have been able to accumulate as a result--whether it's more money, more time, or more knowledge.
And, if you're successful at the game of living below your means, stash your cash! (retirement, college funds, real estate investment...) There's nothing like a 6-figure surplus in your checking account to tempt you into an unnecessary splurge.
My husband and I disagree on this a little (I've come to realize, 4 years into our relationship, that this is probably the only major disconnect in our financial styles, and it affects more than just monetary assets). He likes to keep more in the checking acct. (~2 months' basic expenses), as well as more in the ING acct as short-term savings (another 4 months) than I think it necessary . I think that big of a cushion tends to make a person feel financially "cushy" and indulgent.
That's why I think it's so cool that people share their success as well as their struggles here. If you think everyone has an easy time doing it, it's easier to feel like you're failing when you might just be going through what others do on a weekly basis. I think it's so cool you chose a marathon picture for the article. Very appropriate.
And yes, actually. I do have snowshoes. Although I'm such a weeny when it comes to upper arm strength that I have to stand there like a toddler while my husband pulls tight the boot straps. Other than not being able to get them completely on by myself, I don't do too badly with them. It's our first year having the gear.
My frugality and a host of personal/professional obligations kept me from #2 for a while. I finally broke down and joined a gym (where I do exercise regularly) and have spent some money on gear (bicycle, technical clothing). I envision you cross-country skiing or snowshoeing in the winter, kayaking/canoeing in the summer, hiking year-round.
In our relationship I handle the bills and taxes and seem to be the one sweating for kids college savings and retirement. My wife has fought for years to remain ignorant of the bills and only wants to talk about major purchases and vacations. Don't get me wrong, she doesn't buy two hundred dollar shoes or handbags or really throw the money away on big things. I think it's a difference in perception. For example I'll go to Barnes and Nobles and buy two paperbacks for $15 perhaps three times a year, and I'll hear about it for weeks because I paid full price for two books when I could have gone to a garage sale and bought dozens of paperbacks (forget that they were not ones I'd want to read) for what I paid new. But she'll spend $30 for six hardbacks because she joined book of the month club and only had to "buy" one book at $10 and got five "free" for only $20 in shipping and "handling". See, she saved money and got more and will read and keep the books (mine will typically be donated or sold). Oh, and she's committed to what, two or three more books over the year for another $60 total. She'll claim she's spending the money wiser, I'll claim that she's just spending more money. That's just one example of the kind of differences in perception that drive us both nuts. (We've solved this problem by finally agreeing to go to the library and stop spending on books). This kind of thing has led to both of us spending quietly, which much like the article, has led to some resentment. It's also led to me squirreling away savings and retirement money without really involving her in the decision other than to tell her I've openned a 529 for one of the kids or I'm uping the percentage to the 401K.
Every effort on my part over the years to budget has effectively been useless because she's resistant to working the program. She'll agree with the budget, but then the needs begin, like the need to buy the kids clothes and the sale was today so we couldn't wait until next month, or she needed a break and went to lunch or a movie with a friend, even though the entertainment budget was already spent. I tried the envelope system, but she'd just pull money from one category to to feed the other. When I say we've written two many checks for the month, she uses the credit cards. When I say we've got too much on the credit cards, the checks are used as cash. It's hard to argue when you can't tell how necessary the purchase was because there is always a reasonable justification. Part of the problem, is while she is frugal in the actual purchase, she fails to see that the purchases add up and because I'm not getting her honest input into our budget, I'm flying blind and more importantly, alone, in trying to estimate what we should be spending in a number of important categories.
I've finally gotten her to give me all of her receipts every month for the last couple of months and also write down what she's spent every day. Of course, I've had to "nag" her every couple of days for them, which hasn't been pleasant. I then went over what was spent in the past year, how much debt we had, how much we actually managed to pay off, etc. and created a little presentation. Boy, did she try to avoid sitting down and talking about it. I really focused on not making it about finger pointing. Just about, here's what we spent in this category, is it me or are we overboard here. Even as we spoke she wouldn't stay at the table and look at it, but puttered around the kitchen looking for other things to do. I really kept it focused on trying to work as a team using questions like, is this where we want to spend our money? Are these monthly spending numbers realistic? Do we want to buy anything big in the next year (car's getting old) that we can try to save for? What is a way we can track how we're doing? Sit down weekly? every two weeks? post it on the refrigerator?
I will say its been an eye opener for both of us. I've been grossly underestimating what we spend on groceries for example, and she's been underestimating how many times she goes out a month with friends for lunch. We were both surprised by the "gifts" category until you realize that between friends and our kids friends and relatives, you're looking at a minimum of two times a month for a card with money or present for a party one of the kids is going to. I think the real eye opener for her is that just in checks written to the credit cards over the last year we spent almost half our take home pay and don't really know where it's going. That and the fact that over the last year we've spent everything we brought home and then some, is finally getting her to pay attention.
One of my points of the tirade above is that if you are the "responsible" one, fair or not, like it or not, you are going to have to find some reasonable way to get them to the table and work it out (and it may not be just your way, be willing to listen), because the way they are living is obviously not bothering them. They are not likely to be reading this to better their finacial situation. In trying to keep things less stressful in our relationship, I've let it get way too far out of hand, and the only saving grace is that my wife is a frugal shopper. We would be out of debt and in a much better finacial position if I'd have found a way to get her to the table sooner.
I really needed this post today, as cabin fever in the great white north was starting to get me down. I pay attention to all the items you mention, but fully admit to needing to pay way more attention to number two.
I to try not to use paper towels (still working on the paper napkin issue). I cycle down my white bath towels once they get frayed around the edges and start looking tacky. I cut the towel into 6 squares and then zig zag stitch around the boarder so they don't left fuzzy bits in the washer. They last forever and I have given some to my son when he bought his condo, so the tradition continues.
Oh, this is good! I forwarded on to my wife because we have the "shampoo/baseball card" arguments frequently, although in our case it usually over makeup and an Xbox game! Look forward to reading more from you.
Yes of course bottled water is terrible for our planet and an awesome waste of energy. what's also aweful is that our governments are adding a known poison to our tap water. Fluoride is a known toxin. It is more toxic than lead and only marginally less poisonous than arsenic
Fluoride is described by its manufacturers safety data as a hazardous waste. It is illegal to dump it at sea
The contents of a family-size tube of fluoridated toothpaste are enough to kill a 12.5 kilo child
Fluoride consumption by human beings increases the general cancer death rate
Fluoride exposure disrupts the synthesis of collagen and leads to the breakdown of collagen in bone, tendon, muscle, skin, cartilage, lungs, kidney and trachea
Fluoride inhibits antibody formation in the blood
Fluorides have a disruptive effect on various tissues in the body
Fluoride confuses the immune system and causes it to attack the bodys own tissues, and increases the tumour growth rate in cancer prone individuals
Fluoride kills red blood cells and damages gastric mucosa, resulting in the symptoms of Irritable Bowel Syndrome Fluorides are medically categorized as protoplasmic poisons, which is why they are used to kill rodents
Fluoride is a cumulative poison... we excrete about half what we ingest. The rest is stored, mainly in the bones, where it increases the density but changes the internal architecture of the bone. This makes bones more brittle and prone to fracture. (Eight papers published in reputable medical journals have described the increased risk of hip fracture in elderly people living in fluoridated areas)
Fluoride is put into our tap water at low doses on the premise that it will help to protect our teeth from decay, even though some studies have shown the opposite results, high doses can cause osteosclerosis and other bone disorders. Fluoride bonds to calcium and is thus stored in the bones. it is a cumulative toxin thus very difficult to purge from ones system, if i want to protect my teeth from decay i will stop eating sweets thank you very much. When will our government start putting selenium into our water to quell the AIDS epidemic? http://www.i-sis.org.uk/AidsandSelenium.php
....or any number of minerals that would be beneficial to our health? http://www.johnston-independent.com/fluoride_fraud.html#.
I am not saying that buying bottled water is any kind of alternative because clearly it is not, what i am saying is we would be wise to stand up for our water and our own health by telling our local leaders what we think about this terrible fraud.
"There are three things that cannot be hidden, the sun, the moon and the truth" ......Buddha.
Their article on the healing powers of clay refers to the "MRSA virus, E-Coli and Staphylococcus Aureus viruses." These are not viruses. They are bacteria.
This is not a minor distinction. Bacteria and viruses are entirely different organisms. Their mistake is a bit like confusing a banana tree and a gorilla, just because they inhabit the same jungle.
I can only conclude that the rest of the article is equally misinforming.
It took two years for my wife and I to agree on a way of handling the finances that worked for both of us. We have always been good with money we just did it differently. She used a checkbook, I checked everything online. She hated spreadsheets, I loved them. We came into the marriage with very different perspectives.
We have finally settled on a modified cash budget. We use the debit card & bill pay for relatively static monthly costs (Mortgage, Insurance, Utilities, Gas, etc.) Everything else is done with cash through an envelope type system. This helps us control what were the out of control expenses like groceries and eating out and also gives us monthly "fun money" that we can spend however we want.
The thing that really keeps it flowing is meeting weekly to discuss it. We go over every transaction - debit card or cash and see how much we have left to spend in each envelope. If we need to reallocate we do it.
I think the key to success in personal finances as a married couple is open and honest communication - work to find what system fits you best then stick with it.
Sorry for the double comment but it just occured to me that this article has nothing to do with WB. Please refrain from articles that push agendas and stick to the "living large on a small budget" topic that WB is very good at as I also recommend this site to friends and family.
Kinda funny how an article about a non-partial news resource contains opinionated comments about Fox news and Bill O'reilly. Kinda partial isnt it?
Sure you threw in AirAmerica as an equal right-left callout but come on...
Why not try finding a local producer of raw milk? Pasteurized milk is dead and useless to the human body. Organic or not you will have no positive effects from any pasteurized dairy products. Raw milk is the only way a human will benefit from the wonders of dairy.
If you are truly concerned, do some research on locally produced raw milk and pick up a bottle to try. You will then forget why you even worried about horizon milk to begin with. You are what you eat... eat dead dairy, become dead.
I take every fake check I get like that directly over to my bank. I also include the envelope it came in. They then forward it to their fraud division and I can only hope and pray that my little bit of action will one day lead to catching a scammer.
I've heard that a good way to wean yourself (and other family members) off of the paper goods is to put the paper towels and napkins inside a cupboard and put an attractive basket or box of cloth napkins and towels out where everyone can see them.
In my kitchen, the kids can reach the drawers full of washcloths and towels, but have to pull a chair over to get a paper towel. Guess what they use? Use your own laziness to advantage!
I'll admit I used some cleaning wipes in the bathroom while the kids were little because I thought it was safer, but now that I'm sure they won't squirt the cleaner in their own or each other's faces I'm switching back to squirt bottles and cloth rags.
My husband and I have an ongoing debate as to how to manage our checking/savings accounts.
Currently, I am supposed to transfer money from our savings account to our checking account after every debit purchase or check I write. Of course, I am imperfect and don't always do this in time.
I'd like to put a certain amount of money on the checking account each month or each week, but I'd like to know how other people do it. After reading this article, it doesn't seem worth the interest to try to keep money in the savings account so carefully.
Great picture!
Frugality isn't about doing without--it's about choosing what's important. But knowing that is one thing; actually making the right choices day in and day out is another. For that, it helps a lot to have some guiding principals (or, at least, some rules of thumb), and you've provided some good tips.
The most useful words of wisdom about spending actually came from my credit card company. "Distinguish between wants and needs. Be honest." I cut that out and taped it on my card to remind me.
WHAT!.!.!......you mean those deformed little guys are worth money???????? Wow.
When frugality becomes a lifestyle choice rather than an undeniable necessity, I think it's useful to be generous with the things you have been able to accumulate as a result--whether it's more money, more time, or more knowledge.
And, if you're successful at the game of living below your means, stash your cash! (retirement, college funds, real estate investment...) There's nothing like a 6-figure surplus in your checking account to tempt you into an unnecessary splurge.
My husband and I disagree on this a little (I've come to realize, 4 years into our relationship, that this is probably the only major disconnect in our financial styles, and it affects more than just monetary assets). He likes to keep more in the checking acct. (~2 months' basic expenses), as well as more in the ING acct as short-term savings (another 4 months) than I think it necessary . I think that big of a cushion tends to make a person feel financially "cushy" and indulgent.
but when I checked Ebay, it wasn't getting more than $15-20.
Thank you for this. Simple steps and easy to keep in mind. It's true, being frugal, living in a tiny house, etc. can be hard. This post helps.
That's why I think it's so cool that people share their success as well as their struggles here. If you think everyone has an easy time doing it, it's easier to feel like you're failing when you might just be going through what others do on a weekly basis. I think it's so cool you chose a marathon picture for the article. Very appropriate.
And yes, actually. I do have snowshoes. Although I'm such a weeny when it comes to upper arm strength that I have to stand there like a toddler while my husband pulls tight the boot straps. Other than not being able to get them completely on by myself, I don't do too badly with them. It's our first year having the gear.
You and other bloggers helped inspire me.
My frugality and a host of personal/professional obligations kept me from #2 for a while. I finally broke down and joined a gym (where I do exercise regularly) and have spent some money on gear (bicycle, technical clothing). I envision you cross-country skiing or snowshoeing in the winter, kayaking/canoeing in the summer, hiking year-round.
In our relationship I handle the bills and taxes and seem to be the one sweating for kids college savings and retirement. My wife has fought for years to remain ignorant of the bills and only wants to talk about major purchases and vacations. Don't get me wrong, she doesn't buy two hundred dollar shoes or handbags or really throw the money away on big things. I think it's a difference in perception. For example I'll go to Barnes and Nobles and buy two paperbacks for $15 perhaps three times a year, and I'll hear about it for weeks because I paid full price for two books when I could have gone to a garage sale and bought dozens of paperbacks (forget that they were not ones I'd want to read) for what I paid new. But she'll spend $30 for six hardbacks because she joined book of the month club and only had to "buy" one book at $10 and got five "free" for only $20 in shipping and "handling". See, she saved money and got more and will read and keep the books (mine will typically be donated or sold). Oh, and she's committed to what, two or three more books over the year for another $60 total. She'll claim she's spending the money wiser, I'll claim that she's just spending more money. That's just one example of the kind of differences in perception that drive us both nuts. (We've solved this problem by finally agreeing to go to the library and stop spending on books). This kind of thing has led to both of us spending quietly, which much like the article, has led to some resentment. It's also led to me squirreling away savings and retirement money without really involving her in the decision other than to tell her I've openned a 529 for one of the kids or I'm uping the percentage to the 401K.
Every effort on my part over the years to budget has effectively been useless because she's resistant to working the program. She'll agree with the budget, but then the needs begin, like the need to buy the kids clothes and the sale was today so we couldn't wait until next month, or she needed a break and went to lunch or a movie with a friend, even though the entertainment budget was already spent. I tried the envelope system, but she'd just pull money from one category to to feed the other. When I say we've written two many checks for the month, she uses the credit cards. When I say we've got too much on the credit cards, the checks are used as cash. It's hard to argue when you can't tell how necessary the purchase was because there is always a reasonable justification. Part of the problem, is while she is frugal in the actual purchase, she fails to see that the purchases add up and because I'm not getting her honest input into our budget, I'm flying blind and more importantly, alone, in trying to estimate what we should be spending in a number of important categories.
I've finally gotten her to give me all of her receipts every month for the last couple of months and also write down what she's spent every day. Of course, I've had to "nag" her every couple of days for them, which hasn't been pleasant. I then went over what was spent in the past year, how much debt we had, how much we actually managed to pay off, etc. and created a little presentation. Boy, did she try to avoid sitting down and talking about it. I really focused on not making it about finger pointing. Just about, here's what we spent in this category, is it me or are we overboard here. Even as we spoke she wouldn't stay at the table and look at it, but puttered around the kitchen looking for other things to do. I really kept it focused on trying to work as a team using questions like, is this where we want to spend our money? Are these monthly spending numbers realistic? Do we want to buy anything big in the next year (car's getting old) that we can try to save for? What is a way we can track how we're doing? Sit down weekly? every two weeks? post it on the refrigerator?
I will say its been an eye opener for both of us. I've been grossly underestimating what we spend on groceries for example, and she's been underestimating how many times she goes out a month with friends for lunch. We were both surprised by the "gifts" category until you realize that between friends and our kids friends and relatives, you're looking at a minimum of two times a month for a card with money or present for a party one of the kids is going to. I think the real eye opener for her is that just in checks written to the credit cards over the last year we spent almost half our take home pay and don't really know where it's going. That and the fact that over the last year we've spent everything we brought home and then some, is finally getting her to pay attention.
One of my points of the tirade above is that if you are the "responsible" one, fair or not, like it or not, you are going to have to find some reasonable way to get them to the table and work it out (and it may not be just your way, be willing to listen), because the way they are living is obviously not bothering them. They are not likely to be reading this to better their finacial situation. In trying to keep things less stressful in our relationship, I've let it get way too far out of hand, and the only saving grace is that my wife is a frugal shopper. We would be out of debt and in a much better finacial position if I'd have found a way to get her to the table sooner.
I really needed this post today, as cabin fever in the great white north was starting to get me down. I pay attention to all the items you mention, but fully admit to needing to pay way more attention to number two.
Good job.
I to try not to use paper towels (still working on the paper napkin issue). I cycle down my white bath towels once they get frayed around the edges and start looking tacky. I cut the towel into 6 squares and then zig zag stitch around the boarder so they don't left fuzzy bits in the washer. They last forever and I have given some to my son when he bought his condo, so the tradition continues.
2 Clean 2 B Green
if its any kind of rare, im sure you could get more that 35 for it on ebay...
Oh, this is good! I forwarded on to my wife because we have the "shampoo/baseball card" arguments frequently, although in our case it usually over makeup and an Xbox game! Look forward to reading more from you.
Yes of course bottled water is terrible for our planet and an awesome waste of energy. what's also aweful is that our governments are adding a known poison to our tap water. Fluoride is a known toxin. It is more toxic than lead and only marginally less poisonous than arsenic
Fluoride is described by its manufacturers safety data as a hazardous waste. It is illegal to dump it at sea
The contents of a family-size tube of fluoridated toothpaste are enough to kill a 12.5 kilo child
Fluoride consumption by human beings increases the general cancer death rate
Fluoride exposure disrupts the synthesis of collagen and leads to the breakdown of collagen in bone, tendon, muscle, skin, cartilage, lungs, kidney and trachea
Fluoride inhibits antibody formation in the blood
Fluorides have a disruptive effect on various tissues in the body
Fluoride confuses the immune system and causes it to attack the bodys own tissues, and increases the tumour growth rate in cancer prone individuals
Fluoride kills red blood cells and damages gastric mucosa, resulting in the symptoms of Irritable Bowel Syndrome Fluorides are medically categorized as protoplasmic poisons, which is why they are used to kill rodents
Fluoride is a cumulative poison... we excrete about half what we ingest. The rest is stored, mainly in the bones, where it increases the density but changes the internal architecture of the bone. This makes bones more brittle and prone to fracture. (Eight papers published in reputable medical journals have described the increased risk of hip fracture in elderly people living in fluoridated areas)
Fluoride is put into our tap water at low doses on the premise that it will help to protect our teeth from decay, even though some studies have shown the opposite results, high doses can cause osteosclerosis and other bone disorders. Fluoride bonds to calcium and is thus stored in the bones. it is a cumulative toxin thus very difficult to purge from ones system, if i want to protect my teeth from decay i will stop eating sweets thank you very much. When will our government start putting selenium into our water to quell the AIDS epidemic?
http://www.i-sis.org.uk/AidsandSelenium.php
....or any number of minerals that would be beneficial to our health?
http://www.johnston-independent.com/fluoride_fraud.html#.
I am not saying that buying bottled water is any kind of alternative because clearly it is not, what i am saying is we would be wise to stand up for our water and our own health by telling our local leaders what we think about this terrible fraud.
"There are three things that cannot be hidden, the sun, the moon and the truth" ......Buddha.
I have moved the article to Extra Commentary. But if you're saying Fox News is not right-wing (read OutFoxed) then I'll eat my hats. And I own 12.
Their article on the healing powers of clay refers to the "MRSA virus, E-Coli and Staphylococcus Aureus viruses." These are not viruses. They are bacteria.
This is not a minor distinction. Bacteria and viruses are entirely different organisms. Their mistake is a bit like confusing a banana tree and a gorilla, just because they inhabit the same jungle.
I can only conclude that the rest of the article is equally misinforming.
It took two years for my wife and I to agree on a way of handling the finances that worked for both of us. We have always been good with money we just did it differently. She used a checkbook, I checked everything online. She hated spreadsheets, I loved them. We came into the marriage with very different perspectives.
We have finally settled on a modified cash budget. We use the debit card & bill pay for relatively static monthly costs (Mortgage, Insurance, Utilities, Gas, etc.) Everything else is done with cash through an envelope type system. This helps us control what were the out of control expenses like groceries and eating out and also gives us monthly "fun money" that we can spend however we want.
The thing that really keeps it flowing is meeting weekly to discuss it. We go over every transaction - debit card or cash and see how much we have left to spend in each envelope. If we need to reallocate we do it.
I think the key to success in personal finances as a married couple is open and honest communication - work to find what system fits you best then stick with it.
Sorry for the double comment but it just occured to me that this article has nothing to do with WB. Please refrain from articles that push agendas and stick to the "living large on a small budget" topic that WB is very good at as I also recommend this site to friends and family.
Kinda funny how an article about a non-partial news resource contains opinionated comments about Fox news and Bill O'reilly. Kinda partial isnt it?
Sure you threw in AirAmerica as an equal right-left callout but come on...
Why not try finding a local producer of raw milk? Pasteurized milk is dead and useless to the human body. Organic or not you will have no positive effects from any pasteurized dairy products. Raw milk is the only way a human will benefit from the wonders of dairy.
If you are truly concerned, do some research on locally produced raw milk and pick up a bottle to try. You will then forget why you even worried about horizon milk to begin with. You are what you eat... eat dead dairy, become dead.
I take every fake check I get like that directly over to my bank. I also include the envelope it came in. They then forward it to their fraud division and I can only hope and pray that my little bit of action will one day lead to catching a scammer.
I've heard that a good way to wean yourself (and other family members) off of the paper goods is to put the paper towels and napkins inside a cupboard and put an attractive basket or box of cloth napkins and towels out where everyone can see them.
In my kitchen, the kids can reach the drawers full of washcloths and towels, but have to pull a chair over to get a paper towel. Guess what they use? Use your own laziness to advantage!
I'll admit I used some cleaning wipes in the bathroom while the kids were little because I thought it was safer, but now that I'm sure they won't squirt the cleaner in their own or each other's faces I'm switching back to squirt bottles and cloth rags.
My husband and I have an ongoing debate as to how to manage our checking/savings accounts.
Currently, I am supposed to transfer money from our savings account to our checking account after every debit purchase or check I write. Of course, I am imperfect and don't always do this in time.
I'd like to put a certain amount of money on the checking account each month or each week, but I'd like to know how other people do it. After reading this article, it doesn't seem worth the interest to try to keep money in the savings account so carefully.