A Fortune of Frugality
Posted on 29. May, 2009 by Adam Weight in Business & Economy, Family Finances, Ways to Save
In my efforts to be somewhat frugal, I have found a great little Chinese take-out restaurant within walking distance of my office with great food at a great price. In the fortune cookie that came with my meal today I received the following: “You shouldn’t overspend at the moment. Frugality is important.”
Certainly, practicing frugality is an important thing to do more often than “at the moment” when one considers the bigger picture of economic downturns, saving for a home, college, retirement, or building wealth. But, like many things, being frugal is sometimes more easily talked about than practiced.
Even the fact that I found someplace to eat within walking distance in order to save gas is overshadowed by the fact that I am still spending money for a lunch that could be even less if I packed one from home–even though I love Chinese food and the potstickers are the best I’ve ever had. (Fortunately for me, I have a great spouse who effectively, yet subtly, reminded me that I should be more conscious of my spending by making me a lunch earlier this week.)
So here’s the tip this week: Frugality is always a good idea. How to do it is up to you, but here is some helpful strategy advice from Wikipedia regarding “Frugality“: “Common strategies of frugality include the reduction of waste, curbing costly habits, suppressing instant gratification by means of fiscal self-restraint, seeking efficiency, avoiding traps, defying expensive social norms, embracing free (as in gratis) options, using barter, and staying well-informed about local circumstances and both market and product/service realities.”
On a side note: I think Wikipedia may have just provided a surprisingly accurate description of why Western Community Bank created this blog.
One Response to “A Fortune of Frugality”
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Jack
30. May, 2009
Whenever I think of the word “frugality” I always remember the saying that my grandfather lived by… “Use it up, wear it out, make it do, or do without.” It’s amazing how little we really “need” in life if we change our mind set a little bit. I know it’s hard to do. I like nice things as much as the next guy. I don’t know if it is a myth or not, but I have heard that every worldly possession Gandhi owned fit into a shoe box upon his death. We all leave this world the same way–exactly as we came in.