Thrifty Thursday #9 ~ What is Frugality?

    

    Welcome to another Thrifty Thursday!  Today I want to chat a little bit about frugality itself- what the purpose is and what it means to me, as well as what it doesn't mean.  

    I love the definition of frugality found in Webster's 1828 dictionary:

"FRUGALITY, n. Prudent economy; good husbandry or housewifery; a sparing use or appropriation of money or commodities; a judicious use of anything to be expended or deployed; that careful management of money or goods which expends nothing unnecessarily, and applies what is used to a profitable purpose; that use in which nothing is wasted. It is not equivalent to parsimony, the latter being an excess of frugality, and a fault. Frugality is always a virtue." 

    Frugality, at its basic level, is being a wise steward of what we have been given.  As it applies to money, we don't spend foolishly, excessively, or beyond our means.  Rather, we save where possible, spend when necessary, and invest where prudent.  Nothing is wasted, nothing is squandered, nothing is done carelessly or without diligent thought.

    For me, frugality is not the goal itself.  It is the means to an end, a way of living that serves the purpose of prospering my family and making sure our financial needs are met with as little stress and worry as possible.  While we do enjoy the lifestyle, we don't save just for the sake of saving or because we like to hoard money.  We save so that our needs are taken care of, so that emergencies can be covered with peace of mind, so we don't owe anyone anything, and so that every once in a while, we may comfortably enjoy some little luxuries or experiences that are important to us.  It also means we are able to help others who need it. 

    Frugality means being thankful for what we have and seeing the opportunities to exercise that gratitude by taking good care of what has been entrusted to us.  We stretch it, increase it, and use it in the best way possible to benefit our homes. Making do, fixing, mending, shopping sales, using coupons, buying used, creating, building, growing, and investing all play a part.

    Frugality involves sacrifice.  It means saying "no" to a lot of things in order to prioritize things that are more important.  It means being countercultural when the rest of our instant gratification-geared society is saying "yes" to every whim without a thought to how it will be payed for.  People may laugh at us or think we are strange or call us party poopers, but we carry on knowing that we are getting ahead by not putting our families under the burden of more debt and its accompanying stress.  We know from experience that any sacrifice involved is well worth it, and it makes the accomplishment of reaching our goals that much sweeter.  

    Frugality doesn't mean being cheap.  While part of it may involve looking for the best prices and hunting for bargains, it does not ignore the quality or the lifespan of a purchase.  Sometimes that means saying "no" to less expensive or cheaply made items, even if the lower cost seems alluring in the moment, in order to invest in something that will serve us for a long time.  As in the definition above, frugality "employs what is used to a profitable purpose."  The money we spend should profit us in some way.  A good investment, while potentially being more expensive, will save money in the long run.

    Along the same lines, frugality isn't about not ever having anything nice.  Nice things can still be had on a budget, whether it be through sourcing things at a good price, making them, or by saving in other areas to free up the needed funds.  It used to really bother me when Colton and I had worked hard to save for something nice, and people would say things like, "Wow, you must have a lot of money" or "Hey, you want to give me some money since you have so much?"  Of course, these people had no idea what our bank account or income looked like.  I would think, if only they knew the sacrifices we have made and things we've done without to get this, while they regularly blow money on xyz without a second thought.  It doesn't bother me anymore, as I care less what people think.  Instead, I've learned to turn it into a teaching moment, and I actually taught one of the above commenters how to budget!  Now she comes to me with her financial victories and we celebrate together.  In turn, she has even taught some of her friends how to budget!  

    That is what I want Thrifty Thursdays to be about- encouraging and helping each other in areas of frugality, learning from each other, and celebrating our victories together.  It is no small thing to be tasked with managing the household finances.  Our prudence or lack thereof can build up or tear down our homes.  For our husbands to trust us with the money they labor for is a serious matter and requires prayer, wisdom, and yes, frugality.   Ladies, let's endeavor to prosper our families.