Spendthrift wicked

I think everyone can relate to the idea of making a bad choice - and knowing it's a bad choice - but doing it anyway. Kathleen Robertson.



This weekend I am having a break. A break from work. A break from computers. A break from blogging.
But no break from frugality. I am in this for the long run. No rest for the spendthrift wicked.

In 7 days I have noticed a change in my attitude to money. I have tracked my expenses, written a budget for this fortnight and will adjust it on a regular basis, cleared my clutter and wardrobe to earn some extra dollars, organised some gorgeous outfits, cut my caffeine habit (yes-truly) and stopped buying lunch and I've (tried) to cut my portion sizes.

I have really started to view my earnings in a different way. I recently finished reading a book called "Your money or your life" by Vicki Robin & Joe Dominguez. It is recommend by 90% of financial independence blogs and I found it a really inspirational book. The one thing that I have found has stuck in my head from this book, is the chapter "How much are you trading your life energy for?" I began instantly looking at my purchases in relation to my hourly earnings. For instance:

1 coffee = 20 minutes of my hourly wage
Lunch & a drink = 40 minutes of my hourly wage
Haircut and Colour = 2 days of my weekly wage!

The chapter is a lot more complicated than I have explored here but I find it so enlightening. Relating my purchases to my hourly rate makes me really think twice before spending money. So my frugal tip number eight is relate, relate, relate. Think of how long in time you exchange for your monetary purchases - and is it really worth it.

I'll leave that with you until Monday. Have a wonderful frugal weekend.

Check out the website for "Your money or your life"- and get a hold of the book if you can (Contact me-I'll even lend it to you when I have read it a second time!)
http://ymoyl.wordpress.com/