Frugality Is The Key To Success Essay
When you see people who have their personal finance act together, you have to ask yourself how that's possible? The truth is anyone can be financially stable. It does require a bit of work and sacrifice, but it's possible and it's worth it to try. The key to success is learning to be frugal. That's the one thing all financially stable seem to have in common.
What is Frugality?
The essence of frugality is learning to live within one's means. Simply put, it means spending less than you have available. Too many times, people get caught up in trying to live the "American dream." In the process, they make some rather devastating mistakes. One of the most common mistakes in an over-reliance on consumer credit. In fact, the current numbers on credit
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Avoid Impulse Buying - Impulse buying is the process of spending money unexpectedly. Very few people have the ability to avoid using credit cards when they get in the habit of impulse buying. If you didn't plan to buy something, you probably don't need it.
6. Don't Compete With Others - Trying to keep up with "the Jonses" always turns out bad for the family with the least amount of resources. Your means are your means and you should be happy to learn to live within them.
7. Do It Yourself - A lot of money is wasted paying other individuals to perform simple tasks. You can save a lot of money by learning how to mow your own lawn and use a hammer.
8. Establish Financial Goals - If you don't know where your going, how will you know when you have arrived? By taking the time to set both short-term and long-term financial goals, you offer yourself a better chance to stay focused.
9. Want Not, Waste Not - The only thing wrong with wanting things is wants are usually based on a fad or temporary thing. By submitting to your whims, you end up wasting money on things that end up sitting on a shelf.
10. Bargain Shop - Sooner or later, everything goes on sale. You should never commit yourself to paying full price when you can buy things on sale if you employ a little
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