As long as a person or family earns enough to afford the basic necessities in life, the way every dollar over that is spent and managed determines financial success or failure.
You made the last payment on your car and you want to buy a new car.
….you need to customize your Frugal Plan around your unique situation, lifestyle and financial objectives.
Sometimes the poor are praised for being thrifty.
Throughout the majority in time in the history of the United States, the need to be frugal (thrifty) for the average person was a necessity … not a lifestyle choice as many are choosing today in our post-scarcity society in order to: Improve their personal finances De-clutter their lives from materialistic consumerism Live a moreContinue reading “Living Standards and Frugality”
Teaching your children about money is one of the greatest lessons on life that you can teach them.
Once you have decided to start saving and investing for your future, understanding the concept and value of compound interest or rate of return will be helpful in your planning.
If you think it’s tough living an eco-friendly life in a Western first-world country, try living in a developing country.
If you must finance your next car, do it smartly and not let yourself get buried with additional debt that is truly beyond your means repay.
Many people will abandon a budget if it is too complex or requires more bookkeeping and analysis time than they can (or are willing to) spend.