Living Thrifty and Thrilled about it.
This may sound scary at first glance, but it really isn’t. Once you start you may realise that it relieves a lot of anxiety. I really don’t mean you should deprive yourself of the good life, but rather, have a good relationship with your money, prioritise, save and then indulge a little if you can?
There’s one very important lesson I’ve learnt about money and if you learn anything from this post, learn this: Be honest with yourself. That’s right! It really begins with you, if you can be honest with yourself, you minimise a lot of unnecessary spending. Ask yourself the tough questions like, do I really need it, could I do without it (maybe until I can afford it)? Would this affect my savings? Is it worth it? And for the Ladies, is it timeless, is it stylish or is it in fashion, can I wear this in the next three years? and once you’ve honestly answered these questions and many others, once you’ve had the discussion with yourself, then you make the decision to spend or not.
Its very hard to completely cut out social spending, we are members of society and having social relationships may hurt your pocket a Little if you are not smart about it. I find that planning for these can be difficult, so I would recommend birthday “experiences” instead of gifts, People, grow out of “Stuff” and “things” but they will always remember an experience, so maybe a Birthday breakfast @ wimpy – the cheapest breakfast meal is R24.00 (not saying opt for that, but a hearty breakfast will be R50.00 plus – still reasonable) Birthday Lunch at Spur also won’t break the bank – the cheapest burger at Spur is R67.00. In my opinion, a lot of people would prefer to be fed, rather than to get stuff.
Final tip to you is run your life like you would a business. Huh?! Yep, develop your income statement, write down all your income and expenditure every month (Some banks have an App that can help you do this) fixed costs you can’t change, but your variable costs will help you plan better, because this means that you will have more money than you had the previous month for example.
You work hard for your money and you should know where its going. Live thrifty and prosper!!!
Penny for your thoughts on this subject 🙂
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