People seem to often confuse being frugal with being cheap. You can be cheap and still be broke. Being frugal means living within or below your means, utilizing the funds you have mindfully and responsibly. It is very disciplined and isn't just about going broke $5-$10 at a time finding great cheap deals on things.
Do you use a budgeting system to give every dollar you bring in a job (even if that job is to go into savings)? If not, I recommend getting one. I personally love Mvelopes (www.mvelopes.com) but there is also YNAB (www.ynab.com) which is another great option. Mint is not budgeting software. It helps you track where your money went but not where it should be going.
Being frugal isn't just about finding the best deal and getting items on the cheap. You can still go broke doing that and I know people who have. I have a friend who makes double what I ever did and is constantly broke because he keeps finding "great deals" on everything. Sometimes being frugal means you don't spend money on things you don't need just because it's a good deal.
Sorry/Not Sorry for the rant but it's just something that's been on my mind that I wanted to get out. Thanks for reading.
April 21, 2017 at 09:05AM
