Living the Frugal Life

Merriam-Webster defines a “shopaholic” as one who is extremely or excessively fond of shopping. I would say that, in my former life, I fit this description perfectly. I loved to shop and see what kind of bargains I could find, even if I didn’t need that particular item. When I was having a bad day, I would go to any sort of retail shop and just feel better by browsing around.

About a year ago, my husband and I were challenged at our church to start budgeting our money. We took it pretty seriously. Every night we would come home and talk about how much money we spent that day. Just the act of having to talk about what I spent that day made me want to avoid spending money. By the way, after our first month of talking about our spending, we started saving an additional $250 a month.

I am still on the road to recovery. This blog is helping me tremendously by consciously looking for ways to save money instead of spend money. In the past year or so I have learned a few tips that may help other shopaholics:

Learn the value of a dollar.  We work so hard for our money! We should be hanging on to every cent that we possibly can. Think about your salary and calculate it down to the rate per hour.  Now, when you think about making a purchase, you will know how many hours you have to work to be able to purchase that item and decide if it is worth it.

Reduce the need for things. After reading The Millionaire Next Door, I really started taking note of my desire for things. What am I really working for? A big house, nice car or money in the bank? Do you really want to be a slave to your house or your car? I suggest reading it if you haven’t already. The basic concept of the book is that most millionaires are NOT living lavish lifestyles, they live in regular houses and drive regular cars but have HUGE bank accounts!  

Write down every dollar you spend. If budgeting is new to you, start by taking 1 month spend like you normally do and write down everything. You will see where your money is going and where you can cut back. Like I mentioned before, just talking about how much I spend makes me want to avoid spending money - except on the necessities. Make it a game and see how little you can spend!

You still have to spend money, don’t get me wrong. There are many expenses in life. Now when you think about these expenses, try to be frugal. Come up with ways to save money in your necessary expenses. Keep checking back because I am working on finding ways to save money every day!

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