Frugality and financial planning as a single person
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  1. #1
    Registered User Lizard Huntress's Avatar
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    Default Frugality and financial planning as a single person

    New to Frugal Village, and trying to build up my post count. I was mortified when I found that I could not reply to my own introduction thread! It feels so rude.

    Just thinking about the ups and downs of being frugal and single. A lot of the blogs I read of amazing early retirement stories are married couples with babies. I don't relate to a lot of what they say.

    On one hand, I get to make my own frugal choices without having to discuss or compromise. On the other hand, I only have one income.

    I think I feel daunted by the idea of trying to really fund my own retirement, having made poor financial choices in earlier life.

    Do you find it harder, or easier, or both, doing this on your own?

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    I am a big fan of spreadsheets. I have been tracking our expenses for over 5 years now. It is just the money I spend, but I cover all the "basics" like food, utilities, taxes. Hubby covers the "frill" expenses like cable, eating out, stuff he wants and I have no idea how much he spends on that stuff, but I could do without all of it easily enough.

    If you are not already tracking your expenses, I would suggest doing so. Then you can see how much you "should" have left over at the end of the month, or come up short. Then you can start to make a plan to put aside money, or make up the shortage through an extra job, selling unwanted belongings, etc.

  3. #3
    Registered User Lizard Huntress's Avatar
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    Thanks! I use You Need a Budget to keep track of things, but I am starting out a spreadsheet to get into more detail on my expenses (especially groceries.)

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    I find it easier as a single as I don't have to persuade anyone to accompany me on the journey. However sometimes it is harder to stay motivated. I dislike spreadsheets and trackers. I do like calendars but that is it in that department. I much rather write down a goal and then use a journal to just record my progress....but to each his own.
    Blessed and Highly Favored!!!!
    From $78K in debt to debt free and purchased a house with 100% cash...God is sooo Good!!!
    Goal: Build EF and cash flow graduate degree and REMAIN DEBT FREE!!!

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