Sally writes:
- Frequently eating out
- Extra kids activities
- Buying DVDs
- Going on expensive vacations (We recently had our first real family vacation after 16 years of marriage.)
- We set our heat at 64 so we can save on our heating bill and we have our air conditioner set at 78 to save on electricity.
- We buy 95% of our clothes second hand
- We don't buy brand new cars
- We only have a pre-paid cell phone (costing a total of about $100/year.)
For many years, our income was a very low income, too. In spite of the fact that we were only earning $22,000 a year (averaged) for the first 5 years we were married, we still paid off $20,000 in debt and medical bills. I know people earning three times that amount with half the amount of debt who have claimed bankruptcy. There's no reason for it!
All these things add up big time so that we even have our house 75% paid off now!
I hear all the time from people who say you are so "lucky" that you can stay at home with your kids and don't have to work. Luck has nothing to do with it. It takes hard work and sacrifice! I see tired and worn out mom after mom who "wishes she could be a stay home mom but just can't". They spend $100 a month getting their hair and nails done. They are driving a brand new car. They eat out constantly because they are tired and live in houses that are way out of their budget. In the end they are working for things that aren't even going to be there in a few hours, let alone a few years.
The entire point of living frugally is that you choose not to spend money on things that aren't important or won't last so that you can spend your money on things that will last. For us, the important thing is being there for our kids and providing a secure and peaceful home for them. Mike and I hardly ever fight over money because money isn't an issue for us.
When we were first married we made the choice to live within our means and that meant living in some very bad houses that we could afford instead of "nice" house we couldn't so that later (now) we can have a nice house to live in without being stressed out. I know many couples who were married about the same time we were, had twice the income and chose to get the nice house first. Now they are fighting constantly over money, always yelling at their kids because they are stressed out, and on the verge of bankruptcy, all because they chose to buy things they can't afford.
Another point I want to make is that some "poor" people are making themselves poor. I've known many "poor" families. Many of them are always paying their bills late and live in run down houses, both parents are working and the kids are a mess, and they're just so "poor" they can barely make it.
The problem is when you start looking at the true picture, all five family members have a cell phone, they have a collection of 500+ DVD's, multiple video game systems, eat out every day (it's "just the dollar menu" "it's just one delivered pizza") and drink nothing but sodas. This is a case where the family has it set in their minds that they are "poor" so they are going to spend $20 here and there to make themselves feel better to the point that they spend literally thousands of dollars on junk every year instead of improving their financial position.
So, actually, I think it gives us even more credibility that frugal living does work!
-Tawra
The entire point of living frugally is that you choose not to spend money on things that aren't important or won't last so that you can spend your money on things that will last. For us, the important thing is being there for our kids and providing a secure and peaceful home for them. Mike and I hardly ever fight over money because money isn't an issue for us.
When we were first married we made the choice to live within our means and that meant living in some very bad houses that we could afford instead of "nice" house we couldn't so that later (now) we can have a nice house to live in without being stressed out. I know many couples who were married about the same time we were, had twice the income and chose to get the nice house first. Now they are fighting constantly over money, always yelling at their kids because they are stressed out, and on the verge of bankruptcy, all because they chose to buy things they can't afford.
Another point I want to make is that some "poor" people are making themselves poor. I've known many "poor" families. Many of them are always paying their bills late and live in run down houses, both parents are working and the kids are a mess, and they're just so "poor" they can barely make it.
The problem is when you start looking at the true picture, all five family members have a cell phone, they have a collection of 500+ DVD's, multiple video game systems, eat out every day (it's "just the dollar menu" "it's just one delivered pizza") and drink nothing but sodas. This is a case where the family has it set in their minds that they are "poor" so they are going to spend $20 here and there to make themselves feel better to the point that they spend literally thousands of dollars on junk every year instead of improving their financial position.
So, actually, I think it gives us even more credibility that frugal living does work!
-Tawra
2 comments:
I really enjoyed reading your article. It is so true and it does come down to a mind set. Many families can improve their financial standing by starting out just looking at needs vs their wants. Many of us mistake those wants for needs and live outside our income. You are an inspiration to those of us who are trying to change the way we think about finances.
Glad it was a blessing.
I'm learning from the article, just like you. Make sure to subscribe to Tawra's site at http://www.livingonadime.com/ to get her emails directly.
You are so true about the differences between wants and needs. I think many more moms would be able to stay home with their children if more families were willing to give up some wants!
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