10 Frugal Things I Learned From My Parents That I Still Do Today
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The unusual mindset of many rich people...and why you might want to adopt it.
Don't have an account? Sign Up. First Name. Last Name. Confirm Email. Confirm Password. Yes, I want to receive the Entrepreneur newsletter. Are you sure you want to logout? That was enough to buy me simple things like a cheeseburger or a book. I knew if I wanted more, I would need to make more money. My parents always told me that I should never put myself in the same stressful life situation they have, where every day is a financial worry. I ended up upgrading jobs quickly as the years passed, all the way to today, where I blog full time for a living.
My parents definitely pushed me to work hard towards achieving more. I was able to turn my passion for writing and helping others into a full time business. Frugality, like anything else worthwhile in life, takes hard work to achieve. Frugality takes practice, mental discipline, and a lot of learning during your journey to better financial habits.
You will learn so much about yourself along the way, and very likely developing a whole host of other good habits too. And the potential stresses and challenges of a frugal lifestyle become a lot less when you have the financial ability to rebound from it! Growing up with next to nothing, it was really easy being a minimalist, seeing that it was my only choice. This lasted a few years until it dawned on me that I was just as happy with these things as I was when I was a poor child.
Giving up that life and getting back to living simply was an incredible decision for me and my health. I started to save a lot more money and began enjoying life more because life is more manageable when you keep it simple — at least it was for me. My room has next to nothing inside it — just the essentials. And I drove the same vehicle for 15 years until it was no longer useable.
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I highly recommend moving towards a more minimal way of living. However you may also find out just how amazing living with little more than the essentials is for the ease and simplicity it brings.
My parents used to feed me the same low costs foods every day. This way of eating was out of necessity. It was an incredibly rare experience to have something like McDonalds. I used to listen to a lot of Dave Ramsey podcasts. People would call into his show asking for help on getting out of debt. His answer was always the same. Beans and rice.
Rice and beans. You may not need to be that extreme if you are in good financial shape. These are really simple to make foods that will make an enormous difference in your bank account. This is a great place to start on your journey to frugalville. My parents never wasted a dollar on anything.
In fact, my mom used to pick pennies off the ground. She would get incredibly excited if someone left a quarter in the shopping cart. I remember sitting in the cafeteria at lunchtime desperately wanting to buy a plate of fries in high school. I could definitely afford it. But I knew it was not the best use of my money, despite my tummy disagreeing. I often find myself picking something off the shelf, inspecting it, and putting it right back after carefully considering it.
I almost never really need it. Have you heard of a no spend month? You can learn how to do that here.
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It always blows my mind how little thought people put into decisions that cost thousands of dollars. I had a friend take out a loan for a vacation a while back. My parents were the same. Besides their mortgage, everything they ever bought was with cash. If you don't believe that, just listen to the nightly news for all the tales of woe created by decades of excess spending.
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