I realized the other day that I kind of just jumped into this Frugal Habits series when I started writing more seriously on my blog. I didn’t take the time to explain why I think it’s so important to cultivate frugal habits and build them into your lifestyle.
When you sit down and think about it, your money and your finances are involved in pretty well every other area of your life. I struggle to think of an example of where money is not involved or could be removed from another area of my life. Even things like relationships with my family or friends still end up involving a financial component to some degree. I make choices with these people about going out to eat vs. eating at one of your houses, or going for a walk vs. paying for a movie. Either way, it’s still a decision that is impacted by and in turn has an impact on my finances. We live in a capitalist society, so money affects everything we do. Since you can’t separate your money from the rest of your life, I think it’s really important to be purposeful and intentional with your money. For me, living a simpler more frugal life is a big part of how I choose to accomplish being intentional with many things in my life, including my money.
Frugality is not just about making big financial decisions; it also involves the tiny decisions that you make about your money every day. Your larger financial picture, including net worth, savings rate, etc., is the sum of your smaller financial habits. Choosing to cook all my meals at home frees up more money to save and increase my net worth than eating out ever will. The tiny choices I make every day and the habits that result from them have a huge impact on my financial health. Today I am debt free, have a finished emergency fund, am saving over 15% of my income for retirement, and am working on saving up for a wedding and a house. I would not be in the financial position I am today without the frugal habits I’ve developed.
The purpose of the Frugal Habit series is to share examples of the frugal habits I’ve adopted in my own life. I want to talk about why I’ve chosen them and how they’ve changed my life. My hope is that the posts in the series will give you ideas and inspire you to create frugal habits of your own. So, that, in a nutshell, is why I created the Frugal Habits series. I encourage you to read more of the posts in the series and I look forward to talking with you about them.
Tell me, readers, what frugal habits have you adopted? How have they changed your life?