Frugal, Not Self Denying
By Mary Kay Buttery
If the past number of months have taught us
anything it's that a lot of conventional wisdom is outdated in today's economy.
Stocks don't always beat bonds. Real Estate may not be an an appreciating asset
that never falls in price. And stocks may not produce positive returns over
periods of 10 years or more.
So, it isn't a surprise that some of us have permanently changed our
relationship with our hard-earned cash. The reset button has been hit!
We've made a transition to a new normal; "to live on less". Mega store
Target is jumping on this and has created a new word - the "frugalista". Even
Wal-Mart, with it's new slogan "Save money, Live better" is trying to appeal to
a segment of consumers who have never been Wal-Mart shoppers.
Even those of us not enormously affected are still thinking twice about
taking on expenses. Many who are saving are now doing it less because of having
to than because it feels like the right thing to do.
Frugal today is being smart with ones money! Behaviors adopted are becoming
ingrained and reflect a new normal regarding consumer shopping, dining, and
eating preferences. What constitutes value is being redefined and consumers are
making different choices than in years past.
All of this suggests an underlying change in our behavior. And in fact, this
very seldom happens. Almost always, once some crisis or disaster is past people
go back to behaving just as they did before.
Despite the far-reaching effects of recent times, people's needs do remain
constant. Consumers still need cars, clothing, and health care. People still
desire entertainment and information. What has changed is the motivators. Higher
quality items may be bought used, a short camping trip or house exchange may be
chosen over an all-inclusive getaway, and instead of looking at how to get rich
quick it may feel like the better option is to look at career planning tools and
resources.
Sage advice offered by the experts is not to go overboard. Small changes can
make a big difference and a little penny-pinching can add up in the long run.
Begin by paying attention to how much money is being spent and what it's being
spent on. They promise you'll be surprised. And remember to look at how
adjustments fit into your lifestyle. Be money smart, not self denying.
There are bills that are paid each month that are fixed. An example is a
mortgage or rent payment, or a car payment. But thankfully there are areas where
one can save money. With a little introspection and examination of your current
finances, you can decide what steps you can begin to take to prepare to be
fiscally fit and financially confident. Good news. Rocket science isn't
involved! It can be manageable and easy.
An interesting realization for me has been that I really don't need that
much. What I do have I like and make use of. I've never been as happy and life
runs smoothly! And, life's luxuries seem so much better when there's no debt
attached to them.
About the Author: Be sure to visit Mary Kay's website
http://sfgtd.com/ and sign up for her *FREE* Monthly Newsletter, which is
filled with inspirational, motivational and helpful information. Ignite your
presence, and live in a whole new world of of simplicity, ease and enjoyment. To
contact her: call 702-239-5451 or e-mail
mkb1929@gishpuppy.com. |
