One of my New Year’s resolutions is to practice frugality for 2013. Well, I’ve always been frugal when it comes to myself but the moment my family and friends come into the picture, I turn into the opposite. Mr. Fitz Villafuerte, Mr. Jaime Colayco and Mr. Eduardo Roberto Jr. have a common denominator aside from being good in financial matters. They all claim to practice FRUGALITY.
I agree with Mr. Fitz that there’s only a thin line between being cheap and being frugal but my rule of thumb is, if I don’t hurt anyone by my spending or saving habit, then I’m just being frugal. Being cheap to me is like shortchanging other people and I can’t afford to do that to others. (Remember the golden rule? Do not do to others what you don’t like others do unto you.)
For 2013, I’d like to put my finances in its proper places. These are the things that I’ll avoid doing. Who knows, it may apply to you, too.
1. Delay gratification- I would be very happy if my daughter brings home a certificate for her quarterly recognition but I will hold myself from rewarding her expensive items. I would be very happy if my toddler can recite the alphabet but that doesn’t mean that we’ll have a trip to the mall to scout for a toy. My youngest child, a baby, needs to complete his vaccination and splurging on some non-essentials might hurt the family budget. A less expensive reward will do this time. A facial and spa treat for my teenager will do while a less expensive toy for the toddler will surely make him happy just the same. But hey, the husband needs some re-orientation, too! This would mean scheduled travels if he wants to visit his relatives at the South.
2. Assess debtors- Who wouldn’t want to help someone in need? But as the saying goes, a person is only good when borrowing money but fails to remember his creditor when he’s due to return the money. I have bad debts. Those money could have been used to pay my utilities. I have a soft heart for debtors because I know how is it to have no money but it breaks my heart to see some of them flaunting their latest gadget instead of paying me!I will only lend to trustworthy people.
3. Packed Lunch- Packed lunch used to be “baduy” for me but when I started bringin my own lunch (1 viand, no rice) since last Monday, I’m surprised at the savings! We always have excess food at the house everyday and instead of throwing it away, I save it for my packed lunch the next day. Adobo, pork chop, fried chicken, barbecue and even pinaksiw na isda taste better when kept longer in the fridge. For more frugal practice, I am using recycled plastic bag with Zipper