I would rather agree that frugal living is modest living than cheap living. You may be surprised that a father of investment like Warrant Buffet has a frugal lifestyle. Take a look at some facts of Warren Buffet’s frugal life:
- He still lives in the same small 3-bedroom house in mid-town Omaha since his marriage.
- He drives his own car and doesn’t have a driver or security people around him.
- He doesn’t socialize with high society people. He spends his past time by watching TV.
And his money advice to people:
- Money doesn’t create man, but it is the man who created money.
- Don’t do what others say – listen to them, but do what you feel good doing.
- Don’t follow brand names; just wear those things in which you feel comfortable.
- Don’t waste your money on unnecessary things; just spend on those things you really need.
To parents, stay at home moms and working moms, if you have no ideas how to live a frugal life, here is frugal living guide to check how you live your life:
- House: do you need a big house? A big house means more work for you and you may need a helper. When you have a big house, you have a tendency to buy more things to fill in your house.
- Car: do you need more than one car, do you need a fancy car to impress other people?
- Food: do you often cook home meals or do you prefer eat outside? Do you drink more water than carbonated drink? Do you eat more vegetables than meat?
- Clothes: do you buy the latest fashion?
- Vacation/Entertainment: do you prefer to go to the park rather than malls? Do you watch TV or go to the cinemas? Do you have a plan or budget when you go for overseas holidays ?
- Shopping: do you buy the necessities only?
Although I’m not an extreme frugal mom, I must say that I live a frugal life somehow. I don’t have a big house, I have one 1.3L car, I eat out less, I don’t wear branded names for clothes, I go to the park often, and I watch TV or play board games with kids at home during weekends or short period holidays. But for education, I’m willing to spend for kids’ education as it will benefit for their future. We tutor our kids by ourselves in order that we can use the tuition money for kids’ violin music course. We guide our kids to Learn to Read rather than joining a reading & writing program which cost $70 monthly. I also get myself educated in Internet Marketing so I can earn side income. I may pass this Internet Marketing knowledge to my kids when they are teenage so they can earn to finance their tertiary education.
Below is resources e-books for family, parents, stay at home moms and working moms who are interested to find out more about money management and saving money advice and tips.