Monday’s MST: What Does Frugal Mean?

First of all, I want to say welcome to all the new followers!  Thank you for joining and reading my posts.  I hope they help!  Each Monday, I’ll post a tip that has helped my husband and I over the years save money and pay off debt!  Enjoy!

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Back in my financially immature days, I used to think Ryan was “frugal” or “cheap” as some may call it.  I mean, he used coupons, shopped for the best price, and didn’t buy something if he didn’t have the money!  Geez!  And many look at those words as negative!  I’m not sure when our culture shifted from spending what you had to spending what you don’t have? 

What an idiot I was!  Being “frugal” as they call it, is actually being “smart!”  If he had the money, he would consider buying something he wanted.  If he didn’t have the money, he would save for it!  Such a simple concept, but a very hard one to follow, especially when people look down on your for that.  Funny how people would always poke fun at him for that and now they’re all asking him how to budget and save money.  That’s right!  I stick up for my man!

LOVE this guy!

So Monday’s Money Saving Tip today is FORGET WHAT PEOPLE THINK & DO AND LIVE FRUGAL!  BE DIFFERENT.  As Dave Ramsey says, “Normal is broke. Be weird.”  This translates into living within your means and no impulse buying!

Living Within Your Means – Before you make a purchase, CHECK YOUR BUDGET!  Remember, you should be writing down all your expenses and knowing where all your money is going.  Yes, all of it!  $100, $2,000, or $1.00!  Not only does writing it down keep you accountable, it strengthens you and your budget’s relationship.  Yes, you should have a close relationship with your budget.  If you do not have the money that you set aside for that particular purchase, then DON’T get it!  If you find yourself “needing” to buy things you forgot to budget for, make a category for it, so at least you have money set aside for those purchases (we have a miscellaneous category). 

No Impulse Buying – Impulse buying doesn’t necessarily mean right then and there!  It means anything you buy that you have not planned or saved for.  Most likely if you have credit card debt, you are an impulse buyer.  Plan, plan, plan!  We always planned for our purchases.  Those emergency purchases should come from your emergency fund if you do not have the extra money in your account (Step 1 of Total Money Makeover).  Things do come up and that’s what the fund is there for.  A really good deal on a vacation is not an emergency.  A huge sale at Macy’s is not an emergency (even though I’ve tried to convince my husband it is).  Kids getting very ill (hospital), major car problems, house flood…those are emergencies!  Very few times, if any, should you have to pull from this fund. 

So the moral of the story – Be “frugal.”  Be weird!  Be smart!  Frugal is the new smart! 

Will people think you’re weird or possibly make fun of you for being frugal?  Probably.  But that is a very good sign you are on the right track.

Why save and be smart with your money?  There are many reasons, but for us personally it’s for me to raise our children, pay for their college so they’re not paying off debt when they graduate, afford the things needed to live and not worry, give to those who are needy, eliminate the number one reason for divorce in our marriage, and just enjoy life without the bondage of debt!  Maybe for you, it’s all those things and more.  Or maybe it’s simply to feel free again! 

You can worry when you’re older, how you will survive, or enjoy your rewards of working hard for so many years. Source Via: Left pic and right pic.