These are all words used to describe people who are prudent with their money and who wish to see value for their buck. I used to think I was all of the above. Now I wish I was.
Okay - so I wasn't super vigilant with my budgeting and I could honestly say I never went without. On one hand, I could be really stingy with spending on household groceries for the week. Then, with the other hand, blow my money on a useless "kotchke" I just had to have for my house. I saved little and not often enough- I always thought there would be enough time for saving later. My husband had a great career that paid well and I enjoyed my part-time (although not so well paying) job. We would be fine. We went on overseas trips. We bought classic cars. We spoilt our new born son. We spent up.
Then we decided to buy a house. We only had the minimum down-payment but rushed into finding the property for us. The bank had no problem approving us our loan - even offering us DOUBLE what we asked. We would be fine. We were making enough to cover all payments and still enjoy life. And those costs just kept getting higher and higher.
Then my husband got ill. His illness seeped into every part of our lives and soon, instead of spending up big we were concentrating on day to day living and getting him well no matter what. My husband ceased work and as I did not earn enough to cover even the mortgage, we survived by spending our savings, selling cars and furniture and reducing our costs - but really only minimally. I knew I should budget and take control of what was being spent, and sometimes, I half heartily did that. However, when my husband stopped working I think I truly believe it would be for a short time only. Soon I found myself not knowing what to do or where to turn to.
Nearly two years later, I realise I have underestimated how important being frugal in my life needs to be and am now on my way to discovering thrifty living and money saving ways. I am going to study and employ many ways to stretch my earnings further, to pay down my consumer debt and to learn to love what we have and where we are today - all living below our means and being happy to do it. Better money management, bargain shopping and saving money for what really matters are my goals. I will be using as many resources as I can - blogs, financial sites, television shows, books etc. However, whatever I use must cost me nothing and all info must be available to everyone. This is my journey to financial independence.
I don't know when we will be a two income family again and truthfully, I don't care. I am just grateful to still have my husband alive and by my side. The lessons learnt have been great, however the starting over will be greater.
