Frugality

When I was in college, I had frugality covered.  It was required.  There were days I bawled like a baby in my dorm room trying to figure out where the money would come from to buy toothpaste.  I scrimped to pay my sorority dues only to hear about those that were behind on theirs - knowing I had seen them partying the weekend before.  I often skipped social engagements because I had no funds.  I resented those who had little regard for budgets.

Now, the sad part is, I have become one of those people I resented.  My husband and I make a decent living.  For 11 years, we lived in a house we bought based on my immediate post-graduate school (and deeply in student loan debt) incomes.  My career gratefully advanced and we became comfortable.  Then we had extra.  Then, two years ago, we bought a bigger house to preserve my sanity. 

Which leads to the need to reinstitute frugality.  Not the wondering-where-toothpaste-will-come-from frugality, but one that builds an emergency reserve, pays off long-term debt (like those lingering student loan debts), builds a retirement future, and saves for my childrens' college.  We are doing some of these on a small scale, but each time we increase our income, it seems an expense pops up to equal the increase.

To help me, I have begun reading a book from the library, 10,001 Ways to Live Large on a Small Budget by the writers of Wise Bread.  There have been a few tips and hints that are ludicrous to me.  However, reading it has made me want to go back to the mindful spending of my early 20's where I had to consciously decide where every penny was going.  Maybe not to that extreme, but there are days when I don't know where entire paychecks have gone and I know that cannot continue.

One of the articles I read in the book basically said that personal finance comes down to one basic principle:  spend less than you earn.  Now, to get back to that mentality.  I am sure some future blogs will talk about ways I am doing that.  (Be aware, this is not a New Year's Resolution - I resolved years ago to never make them - but simply a new guiding principle as I try to regain my contentment.). The unexpected will certainly pop up, but with a new mindfulness, perhaps I won't have the sick chest pain trying to see where the money will come from.