"Avoiding unnecessary expenditure either of money or of anything else which is to be used or consumed; avoiding waste"
en.wiktionary.org/wiki/frugal
I get asked often how I do it. Most recently sitting with my lawyer listing assets and debts, basically Lars and my division of this was very simple. Our only debt is our house. We (me more so) make very little. So little I am fairly certain my kids could qualify for free lunch based on our income. However this has never been an issue, I live for a quality of life over quantity of things.
My motto has always been to live well within my means. My means have now gotten a little smaller and may take a little more thought.
These are some of the things we have done over the years that add up in big ways, at the same time I have NEVER felt like I live "without".
-Our first house we saved up until we had the 20% to put down on it
-Since the kids were born we have not had cable (I have no idea the going rate for cable)
-and this was before you could watch everything online, I do splurge for Internet!
-Stayed in our first house almost 10 years had a nice down to put on my current house
-Changed from gas heat to electric (saved hundreds of $$ per month in the winter)
-Keep the heat at 70
-I get my hair cut max 3 times a year (have to have Lukes done every 6 weeks)!
-I do not do mani's, pedis, or any other salon treatments
-I book vacations when I have the money saved for them
-Spending money on vacation comes from loose change we save all year
-I DO NOT use credits cards except for the business and to book a trip and pay for gas
-My spending money for groceries comes from tips
-My business credit card is a mileage card and usually pays for a couple RT tickets to Hawaii each year
-Pay bills early and in full (no late fees or interest charges)
-I rarely buy clothes. I allow myself 1 new pair of jeans a year (if I want designer, I buy at Nordstrom rack)
-All others clothes I spend between $100-$150 for the year, with the exception of 1 new work shoes a year and twice a year running shoes) I will say Luke's clothing budget has far exceeded mine!
-Majority of my shopping is done at Costco (clothes, food, electronics, appliances..you name it)
-I have a basic cell phone plan (no Internet on it)
- I live a cash life, if I don't have it, I don't buy it. Coming back from vacation this time I came home with money, I have wanted to finish painting my bedroom but haven't had extra money for this, with my extra money I bought paint!
I love living simple. It is not for everyone, but things like a bedroom set, or now I have no furniture in the basement bedroom or family room, doesn't bother me. I'll one day...maybe, if I feel like it piece something together. I am way behind....but I don't mind.
Don't get me wrong with two incomes I knew we would figure out a way to pay for the kids college. And I knew when Luke was 16 he would get the old honda and Lars would get a new car. On one income these things are so far out of reach , it does stress me out. I've talked with Luke about the car situation, as for now as an almost 14 year old he is cool with a bike...and right now I just love that!