What does it mean to be frugal?
It means that I think twice about making impulse buys. It means a simpler life, and cutting back on the excess fashion accessories I don’t need. It means I find other ways to spend my time rather than scouring the internet for deals. It means making smart financial decisions.
Why is it important?
I have certain financial values and goals. And when my actions don’t line up with them, I feel uncomfortable.
I want to be able to save for the long-term – a house and retirement. I also want to pay cash for big ticket items like a car, and vacations. I want to be able to give generously to our church and different charities. I don’t want a house full of stuff I don’t need. I want to feel like I’m accomplishing my goals, and living a a frugal life.
I definitely want to teach my daughter to aim for her goals, rather than just live in the financial moment. I also want to teach her to be generous – to give to those less fortunate, and to causes she believes in. While it’s important to have fun, you don’t need a lot of money to have joy in your life. And it’s vital to save for a rainy day.
How am I doing?
Writing this post was helpful for me. It put things in perspective. I was having a difficult week, and had an urge to buy stuff. I found a pair of shoes I really want while trying to find suggestions for my husband to get me for our anniversary next week. And I can’t stop thinking about them. I bought some household items online because I was just dying to make a purchase.
What values do you want to pass down to your kids?