The Thriftiness Persona

Frugality in Personal finance is one of the aims of this blog. Today I am going to write about thrift budgeting.


It might take just a few Min's to read this blog; but a complete month to actually follow it. No! No! Its not about following my blog posts, its about practicing the few good things which we might know but tend to forget; each day, day after day and so on until you feel a need to have a thrift budget.

I have used Persona, because when it comes to the best Thrift Budget.. everyone has his own views. Most likely because everyone has their own priorities in finances. So it; as always; just remains a persona. But being able to help you get the gist of frugal budget is what is actually aimed at.

There is a lot written on Thrift habits, Frugality, best practices on the net. But I believe, a best practice is the one which can be practiced with ease in real life's at times challenging scenarios.

• Saving - people say its extravagant spending which is most of the time impulsive in nature is what keeps us away from savings. Yes! indeed its true, specially when our spending habits are impulsive. We go out to a Shopping Mall with a fixed need and end up purchasing a few 'Can haves" or even 'good to have' things less realizing the fact that it becomes extravagant.
  
• We keep trying to stick to our budget. Often until the end of the month we find a item which is an eye-catcher. We feel having worked the whole month of budgeting our categories. We are well within the limit and its good to have the new toy back home. Well, at times its not. This actually turns out to be a budget line breaker. Its just one item and you're out of your budget. So try and avoid budget line breakers. This would help you stay healthy on your budget.
  
• Do keep yourself some air to breath from. In order to save we might have everything around us reminding us to same, to keep us within budget. But this does not and should not mean that we eventually forget that we are Earning to live a beautiful life; and not Living to earn.
  
• Buying less expensive, products is not considered thrifty. When we have a budget and can afford it, why not go for a branded item. This could add many years of service saving you time and money to go get the next one in stores.
  
• No one is perfect. not even me; especially when it comes to savings. It is possible and has already happened a couple of times when I willingly forgiven my savings for this month to meet another expense which was more appropriate and demanding then. Does not mean I have stopped saving, I skipped that month and regularised my saving next month.
  

Thriftiness is not Rocket-science, neither it is that simple. All it requires is a balance between time and wants. And I am sure you should be able to practice thriftiness in your own 'Workable' way. Reader's views and/or comments and experiences are most welcome.