The following is a post from a friend — want to get your words up on here? Contact me! You’ll help me out on weeks where I’m bleary from vacation and can’t think of anything witty or interesting to say.
What can you say about the word Thrifty? For me I tend to see the word as way to be mature, smart, and reasonable with your money. Many people have recently jumped on the bad wagon and are taking claim to this new thrifty lifestyle, but they were not saying the same thing back in the spendthrift days of 2006. What do you think changed something within their minds (Internal Influencers) or maybe they were convinced by all the media exposure (External Influencers). Granted if you ask someone who falls under the category mentioned before, they all of a sudden have amnesia to pre 2008 ball out buy everything on the shelves with credit cards mentality. Getting to the root of the problem will solve the mystery behind these so called pretenders who say they save mad dollars, but go to Starbucks every day. It just doesn’t make sense to me because being thrifty is always a good thing. (Disclaimer: I brew my own coffee always.)
I will disclose for you here and now, I have always been thrifty and I am proud of it. I don’t like to splurge on things that I can’t see myself enjoying as a value / dollar tradeoff. For example I saved as a kid to be able to go to the toy store and buy that new video game I wanted to play with a feverish addiction. This impulse helped me attain my goal of getting that game. In all essence this means I am thrifty in all aspects of my life, but then I use it to get the things in life I want like comic books as a kid. Did that make me thrifty or not? Save here to spend there? You be the judge.
That was me then for many years, now I try to save everywhere possible and minimize spending. Each dollar spent either is a need, a repayment, or an investment towards the future. Being thrifty and then paying extra on the mortgage is genius I must say. But many people can’t do it because they are full of excuses. Because they have a long list of wants which gets longer year after year. This list gets in the way of being debt free and many other prosperous money goals.
The definition below found on the web delves deeper into the word and they say that we can all be successful and prosperous if we live by the word thrifty. Reading this definition just made me happy to be a PF blogger just now.
Definition of the word Thrifty:
1. Practicing thrift or economical management; frugal: a thrifty shopper.
2. Thriving, prosperous, or successful.
3. Thriving physically; growing vigorously.
How can you convert to this great way of life after reading the definition above? Well the first thing you must do is to switch your thinking and say out loud, I want to practice economical management. The next thing you should do is to follow the random list below:
- Do not buy anything without a sale price sticker on it
- Go only to places known to give great deals (Target, Shop Rite, Kohl’s, Marshalls, Amazon)
- Wait at least 6 months before buying newly released electronics (Save about 1/3 the price)
- Ask for discounts whenever you deal with salespersons (Negotiate)
- Spend if you must, but make sure you can get value out of it
- Think about other options for surplus savings (Debt prepayment/ Investing)
- Cook at home more often than not
I hope you can put to use these tips above and now have a new affinity for being frugal, thrifty, and financially savvy. Because being so will lead you to grow and get the best use for the money we have.
Rich Uncle EL
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