Today I thought I would have a chat about why people (and me live frugally). Many live frugally in order to live from one weeks wage to another. We live more month to month as a family unit financially. We live frugally by only buying what we need rather than buying stuff that needs dusting. The savings from this not spending on bits and bobs soon adds up. This money goes back into the pot.
We have limited amounts of clothes due to space and because we can only wear one set at a time. (The kids wear uniforms on weekdays most of the year, J has a work uniform and I have specific outfit I wear for just work). Kids clothes are worn to be a child in not a fashion icon so no designer labels here, clothes are for playing out in and being a child. Buying non designer items means a huge saving. This money goes back into the pot.
We have days out and spend time as a family again we keep the costs down by taking our lunch with us allowing us to enjoy some and spend some frugal savings on an attraction e.g. fun fair. We also have fun for free a trip to the park or beach costs nothing.
We shop around and stick to a meal plan and a budget meaning huge savings on no impulse purchasing. This money goes back into the pot.
I am not brand loyal and will try out any products.
What do we win by being frugal?
For us being frugal has meant we have money in the pot too pay for things we may not have had the money to pay for otherwise. This year this will be 2 residential school trips for Princess and Peaches and a family holiday away for us all. Other years this money has gone towards holidays, a new car, white goods and decorating projects in the house.
I have done this for many years now and it has more or less become 2nd nature to us. We do find it works for us though and has enabled us to live on one wage whilst bringing up 3 children and me being a stay at home mum. By doing this we have still been able to go out and have fun without us getting into debt.
Any other frugal people here? Why frugality?