An idea that seems to have some pull recently intimated that frugality is for the rich, and that those not in that category can ignore it. Well! It seems some definitions are in order.
Now and When
When you are poor, you scrimp and splurge. Then you scrimp again. This is the perpetual ricochet from one end of the money world to the other. What this bounce does is give the person a sense of aliveness and motion. No one wants to live in scrimp-mode forever. Or so it would seem.
That is why change is hard. People want to do what they want but get different results. However, one of the as-yet-unnamed laws of the universe* is that if you want different results, you need to change what you are doing.
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* I just made this up, that this is a law of the universe, as I am sure you know.
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The main problem in changing one’s life is that in order to change one’s life, one must change one’s life.
India, 17th century.
Since so few are willing to break with their previous models of thinking, very little new happens, and cycle repeat over and over.
So Why Be Frugal?
So, what does the above discussion have to do with frugality? Frugality seems to be a way for those with money to lower their expenses such that they have more of their money. But what if you do not have money?
If one does not have money, then one should get some. If there’s a job in the picture, then one of the first steps is to take a look at how much income there is. If there is no job, then one of the first steps is to get one.
Get Some
OK, so that line “If one does not have money, then one should get some” does seem too short for an immense topic. I cannot minimize how difficult it can be to get started, to get a job that has some potential, that has income.
Each step along the way can seem overwhelming. There’s no doubt about it. But letting fear and nervousness and attitude hold us back is counter-productive. We should not allow ourselves, our attitude and our thinking, to be our enemy.
Let’s Get Going
It is understood that a major key to financial capability is to spend less than one earns. However hard it is to hear, it can be just as hard to implement.
Hard or Not Hard
No matter how hard it may seem to be, it is possible to get closer to financial stability. More words can be stated, and more emotions can be expressed. Regardless of what hand waving and anxiety may be demonstrated, the keys to the beginning are always the same:
Spend Less Than One Earns.
We May Be Asked
We may be asked, so if one spends less than one earns, what does one do with that that was not spent?
It is a legitimate question, and not one to be taken lightly.
1580.
What Can Be Done
What is done with that which is not spent? Generally, use it for two purposes. So split the amount available into two parts, as follows:
Part One: Pay Off Debt
Part Two: Save for Emergency Fund
Later Things
Later, when debt is on the brink of extinction and emergency fund is thick, then one can think about investing. But that is later, down the road. Because:
In the beginning, you save.
What do you think? How did you handle the beginnings of frugality? See the Contact page how to respond.
The first image is from a 17th-century Persian translation (from Mughal India) of a 13th-century Arabic treatise by Zakariya al-Qazwini titled ‘Ajā’ib al-makhlūqāt wa-gharā’ib al-mawjūdāt (Marvels of Things Created and Miraculous Aspects of Things Existing). The US National Library of Medicine.
The illustration from Adriaen Coenen’s Visboek (Fish Book), published in 1580. Adriaen Coenen was from the Dutch sea-side village of Scheveningen. The National Library of the Netherlands.
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