by Kris Koments

Created on: September 20, 2009   Last Updated: June 03, 2010

Proud to be an American Frugal in a failing global economy.

Have you ever awakened to the realization that the world was in a mess, but upon further investigation, (looking at your check register) you concluded it was you, and not the world, that was in a mess?

How you came to be in this situation is most likely not a mystery to you; a well paying job, shopping sprees, outings with the family, vacations and unmonitored spending got you there.  The exact opposite is the only thing going to get you out.

Perhaps you have lost a source of income, like so many others around the world who share in this same dilima. Is it time to make saving money a lifestyle?

Being raised in a frugal, spend-thrifty family myself, I know spending patterns and behavior are learned and therefore, it only makes sense that it will take some time for you to relearn and perhaps even longer for the other members of your household to adjust.

-Once your decision has been made

If you have made the decision to live a frugal lifestyle, there can be no more extravagant purchases, no more grand gift giving buffet's, no more prime-time shopping sprees with the girls, and absolutely no more unmonitored spending!

I can't count the times I went to the ATM for a small amount of cash for a small purchase only to leave with a large amount of cash 'just in case'. From my mistakes I can tell you, 'just in case' cash turns in to no cash. The more money I carried, the more I spent. We always needed -something- from the store.

Cut your ATM card into tiny pieces, if you find my experience similar to your own.

-Let everyone in on it

The next thing you should do; hold a family meeting of sorts. Chances are they won't retain all the information you share with them or the standards you set, but it will make your plan seem more real if not somewhat insane.  

-The hard part

Begin by putting your entire family on a budget, not just you, not just the grocery list, but the entire family. Everyone needs to set boundaries and practice a little self-control.

-Old habits are hard to break

The first thing to get confiscated should be the food from the pantry. Your family doesn't need to eat everything they want, when they want it, all day long. 

More meal preparations and a set dinner time is not only more cost efficient, but healthier as well. 

-A budget for the household

Prepare a budget for all family members to adhere to. List their expenditures and make them accountable to  pay some of the expenses.

-I will add that my son and his girl-friend are both twenty years of age, and as such are in part, responsible for a share of the utilities.

You aren't just saving money to 'learn' another lifestyle, you will be putting that education to good use, living a frugal lifestyle.

Telling" everyone not to impulse shop, or rather, not to shop at all isn't something they are going to take too kindly. But you might be surprised what intelligent adults your children have become.  

-Smart spending

Shopping with coupons and thrift stores only, they can accumulated a nice savings for themselves and still keep afloat until times get a little better. And times may indeed, get a little better. 

In conclusion-

It may be unfortunate that it takes the prospect of losing everything to help show you and your entire family how important it is to live a modest, frugal lifestyle and save, but it will be well worth your effort.

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