Monday, December 22, 2008

Going Frugal?

Recently, I have become fascinated by the frugal lifestyle. I really amazes me how people can live off of such small incomes. While I do think that location and cost of living plays a big part in what these people can do with their money, the majority of their savings comes from making good decisions on purchases and how they spend their time. Some of these decisions I find admirable, some just plain weird, but all in all, I think the basic concept of frugal living while not on a tight income--budgetting now so that you can reach your financial goals sooner--is a good one.

After doing a bit of reading ourselves, we’ve decided to become more budget conscious and to hopefully begin applying a frugal concept into our lives, so I thought that it would be appropriate to start logging my journey here. That way, I can look back and see how far we’ve come.

It's a pretty big change, especially in mind set. We've set up a budgetting system (based on the system used by America's Cheapest Family) that has already started changing the way I view our money. I no longer see the large balance in the bank account, but rather, the smaller balances in each of the categories.

By no means are we trying to become the next Amy Dacyzyn or Economides family. We just want to take better control of our money. If all goes well, we'll be able to do just that.

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