Monday, March 15, 2010
Frugality Is A Choice We Make Everyday
There are two sides to every budget: income and expenditures. My partner’s focus tends to be on the income whereas my focus tends to be on the expenditures. Because frugality is about living below your means, the disagreement seems to arise when the question is how far below your means should you live?
Chuk and I rarely argue about money, but sometimes we do. I think it is because we have different spending priorities. He likes spending money on his hobbies and having a lifestyle similar to that of people we know. I like spending money on travel and having lots of money in the bank.
These are some snippets of the conversations we have had:
Him: My dream bike costs $1,000.
Me: [Thinking about the one year old bike he currently owns.] Maybe you should sell your car.
Him: Kevin and my sister go out to eat like three times a week.
Me: They bought their house with no money down. I thought we wanted to make a big down payment on a house.
Him: Jay and Stephanie bought a flat panel HD TV.
Me: We have cable and they don’t.
Financial decisions aren’t just the big life choices you make like will I accept this job or should we relocate; the small everyday decisions you make are just as important. Will I pack a lunch today? Do we have a coupon for that?
Even though we have different spending priorities, thankfully, we have the same financial goals. Neither of us wants to go into debt. We both want to have a nest egg for emergencies. As long as we stay focused on the big picture without losing sight of the small picture, we seem to be staying on track.