Another (happier) essay by i.m.cheap

**i.m.cheap** · 09-16-2007, 02:42 PM

Empowered by Frugality

I don't try to “Keep up with the Joneses”. Long ago I came to the realization that the Joneses were in debt up to their eyeballs. They work long hours, to pay the interest charges on their many consumer loans and credit cards, and are seldom home to enjoy their big screen TV with surround sound, or the jet skis in their three car garage. Mr. & Mrs. Jones are barely speaking, as each blames the other for their sad financial situation.

It is possible to live quite well on a modest income, if you use some common sense. Decide what your priorities are, have an emergency fund of cash in the bank, and get off the consumer treadmill. How much stuff do you really need? Think about how your grandparents or great-grandparents lived. They cooked and ate their meals at home, probably owned one car, and fixed things when they broke instead of throwing them in the landfill and buying a new one.

It is possible to have a one income family in the 21st century, despite what the media would lead one to believe. Two incomes will increase your income tax liability. If you have young children, don't forget the cost of childcare. Another cost associated with that second income is more restaurant or take out meals, since both partners are too tired to shop for food and cook. What if one partner does not wish to stay home? Consider part-time work for one or both. This leaves time for frugal pursuits such as gardening, shopping at garage sales or thrift stores, cooking from scratch, or clipping coupons.

Speaking of clipping coupons, most people have no idea of the potential savings from manufacturer's coupons. We are lucky to have stores in this area that double the value of coupons. In fact, the Homeland stores in Wichita will double up to $1.00 coupons everyday. This means that a coupon for $1.00 is given a value of $2.00. This can result in many items being FREE or just a few cents. To save gas, I combine my weekly trips to the Homeland store with other business in Wichita.

What about a new car? Most people that have amassed some savings, realize that buying a new car is not usually a wise financial decision. Buy a car that is a couple of years old, and pay cash. What if you don't have the cash to do this? Financial guru Dave Ramsey recommends the following plan:
“You want a brand-new sports car that would normally cost you $475 a month. The car you’re driving now is worth around $1,500. If you take that $475 and pay yourself instead of paying the dealer, you’ll have $4,750 in just ten months. Add that to the $1,500 you can get for your current car, and you can pay cash for a used $6,250 car. That’s a major upgrade in car in just ten months — without owing the bank a dime! But let’s keep going. If you kept saving at that rate, you’d have another $4,750 in another ten months. Chances are, less than a year later, you could sell your $6,250 car for about what you paid for it. This means that you can step up again — with cash — into an excellent $11,000 used car just twenty months from today. Not bad!”

One more way to spend your hard earned dollars wisely is to look into the second hand market. Yes, I am talking about thrift stores, and yard sales. How about a pair of Tommy Hilfiger trousers, or a Ralph Lauren button down oxford shirt for $1.00? I purchased both recently at the Goodwill store's “Back to School Sale”. My entire family can wear designer labels for pennies on the dollar. We purchase socks, underwear, and shoes new, but I look for the best possible sale or clearance prices on these and other items purchased at retail.

Living a frugal lifestyle gives you freedom. Freedom from debt, financial worries, being stuck working a job you hate because you have so many bills you couldn't dream of taking some time off or taking a lower paying job that would satisfy your soul. Having money in the bank can give you financial independence. Would you like to stop working before the age when you can collect Social Security? Start living simply and saving now.

**staceyy** · 09-16-2007, 03:07 PM

Right on!!!

**IntlMom** · 09-16-2007, 03:12 PM

My thoughts exactly!!! (ps - I made it to Homeland - had a total blast! THANKS!!)

**i.m.cheap** · 09-16-2007, 03:21 PM

Traci, I went to Homeland last night. I have been working for some friends that own a restaurant on Saturday evenings. They pay me in cash ($10 an hour). When I get off work, I drive straight to Homeland, it is only a mile or so from the restaurant. Last night I had a blast, saving over $70 with coupons. I spent $18.95, but sent for a $10 rebate today on the Kellogg's cereals I purchased, for a net cost of $8.95 for almost $100 in groceries.

**Jaded** · 09-16-2007, 04:07 PM

**Droppedonmyhead** · 09-16-2007, 04:43 PM

Very nicely done. . .excellent essay. I'll need to bookmark it to reread whenever I need a boost. Thank you!

**Royal** · 09-16-2007, 05:02 PM

Thanks for the great essay! I enjoyed reading it and look forward to reading more.

**bugsmom125** · 09-16-2007, 05:57 PM

i think i will bookmark your essay, everything you say is so true and that's how i try to live my life

**mama.hawkins** · 09-16-2007, 06:07 PM

Love it!

**brenda67** · 09-16-2007, 06:24 PM

Great Essay...

**i.m.cheap** · 09-16-2007, 06:52 PM

I am enjoying my English Comp 1 class. This was for my assignment this week. It is an "examples essay". We were supposed to write about something we know.