Frugality
When it comes to lifestyle, everyone has different goals and ideas of what they want and how they want to live. We all want to own nice things, go on nice vacations, and keep up with the latest trends in clothes and technology, but knowing when enough is enough is a hard line for most people to draw. The sad thing is that most people that have all the great stuff, are usually not paying for it in cash, people are getting further and further into debt to subsidize their shopping addictions and their lack of patience. I recently came across a young couple who was on vacation, who after one too many drinks admitted to taking out a car title loan to fund their vacation. That particular event is what led me to write this blog. I was baffled, I have personally been in many financial binds, so I can relate to having money issues. But having money issues and risking your car to go on vacation is two really crazy ideas to me.
For shopoholics, or compulsive spenders, spending money, worse of all, money they don’t have, is comforting to them. Just the fact that they are able to have these things, even though they had to borrow money for it, makes them feel like they are wealthy in a sense. When that couple blurted out their secret out of drunken stupor, I immediately saw the look on their faces change, like they had just realized that they would be in for it when the little fantasy is over. But just as quickly brushed it off, so they wouldn’t have to feel the consequences of their actions right away. So many Americans suffer the same fate, everyone want’s what they can’t have, no one is willing to work to save towards what they want, but rather, get it now and pay the price for it later. Many people have gotten into very bad financial debt because they live way above their means.
So many people fail to realize all of the conflict that over spending can cause. Relationships suffer because of it, sometimes even self esteem. Because for the people who thrive on material things but can’t afford it, they actually suffer personally and have a poor self image because of it. Not being able to afford things, makes compulsive spenders very unhappy. What they fail to realize is the benefits that would come from living life on a budget. Being able to take control of personal finances can help to rid your life of a lot of conflict. The art of being frugal can keep peace of mind and make one more focused on goals to create a sense of well being and control in life . Beginning by making a simple change in spending habits, and keeping track of expenses is a great way to become aware. Staying away from online payday loans and saving toward goals is a great way to escape the need to want to purchase everyhting by credit card. Lastly, learn to let go of material things, those things will not bring happiness, it’s only a temporary feeling.