I was thinking about frugal living, specifically how we manage our own finances and approach life in a frugal manner. I realized that we don’t go around saying things are “frugal” but rather we have incorporated frugal practices into our daily routines and more especially in regards to our financial decisions. They are automatic now so we don’t have to stop and think about them.
The first key to frugal living is to plan purchases in advance. This step allows us to make informed and conscious decisions in how and when we spend money. Although we have not completely mastered our impulse spending, it has greatly diminished through the use of this step.
For example, the month of June has just started. I took a few minutes to scan my calendar for the month and make notes of any occasions that are going to occur. I note that Father’s Day will be coming up so I will begin planning now for any gift giving and/or celebrations we intend to have. In July I know we will have a birthday to celebrate in our family so I’ve begun planning for that party. We’ll also be attending a couple of birthday parties for my children’s friends, so we are planning now for the gifts we will be giving them. Also, I’ve begun saving $20 per week (just setting it aside in our checking account) for gifts we plan to give at Christmas time.