LIVING FRUGALLY

My friend asked me the other day, why I teach people to live frugally and to save money, when I do whatever I want, whenever I want?

When my friend asked that question it made me realized that perhaps I should better explain what frugal living is all about.

I have always been a frugal person while I believe in living frugally; I never   deprived myself of needs or of some wants. Living frugally meant I had to always have a smart plan, which I followed until I met that particular goal.

Living frugally does not mean you have to wear the same clothes over and over or lower the temperature in your home to just above freezing.  It does not mean that you have to sit in the dark and keep the lights off.  Frugal living does not mean that you never go out to dinner or to a show.

Frugal living is always working on your goals; create a plan to find out what you really want.

It is being able to have financial choices. The choices may give you a chance to find some level of happiness and contentment.  It allows you to say no or say yes with ease.

My decision to live frugally has caused me many small family frictions. I remember my brother – in – law saying “Tessa-Marie wants me to turn off the lights whenever I leave a room so she can save ten cents worth of electricity.”  Yes I did, because it was my ten cents not his, it just made no sense to me leaving the lights on when no one was in the room.  Today, Toronto hydro has all types of incentives to encourage the consumers to save on the cost of electricity.  As an example they have provided us with a chart, which explains the peak period and the non-peak period of the cost of electricity.  So as far as I am concerned I was way ahead of the curve on saving small amounts and that made me a trailblazer.

Being frugal enabled me to make a choice to publish my book “Controlling the Debt Monster”. I made the choice to have my book published and changed my career.  I am doing what I love, advancing others to financial independence.   When I discussed publishing the book, one of my co-workers told me why not continue to work for TD Canada Trust until I am 65 then publish my book.  It was tempting, but I knew I had saved and invested well so I could do something I loved while I had the energy to do so.

Being able to do what I am doing today was more tempting than continuing to work at something that had run its course.  I enjoyed my time at TD Canada Trust. I love that company and I am grateful. TD Canada Trust educated me and paid me a salary. The education I received from them I am using today to do something I love which does not feel like working. Even getting my education from TD Canada Trust to be a Financial Planner was living frugally since they paid to educate me. I did not have to pay for the training I received. Guess what, the education and training I received at TD Bank is mine to keep and use however I choose.

I know that my responsibility to serve others is to be the example they need.  I have walked in the shoes they are now wearing and I tell them my story.  Now I serve by enlightening, educating and encouraging others to follow a frugal way of life early in their career so later on they will be able to enjoy doing what they truly love.

The entire idea is to LIVE LIKE NO ONE ELSE WHILE YOU ARE YOUNG SO WHEN YOU GET OLDER YOU CAN HAVE THE OPPORTUNITY TO LIVE LIKE NO ONE ELSE.

Frugal living as a young person let you choose to winter in the Caribbean for six months of the year as a senior.  Frugal living means that you do not have to work because you have to. Frugal living is choosing to work in the flower shop because you always wanted to and now you can.  It also means that you can tick off all the things on your bucket list because you can.

Frugal living does not mean that every time an item is on sale you purchase it, whether you need it or not.  Frugal living is, knowing the difference between your needs and your wants. Frugal living is shopping with a list of the things you need to purchase, it is not entering a store and purchasing whatever is on sale. Frugal living is bringing your lunch to work instead of spending $7.00 on lunch and another $4.00 on coffee and a donut everyday.

Frugal living means knowing what you want and where you want to be financially in the future. Frugal living allows you to have many choices.  Frugal living is watching your savings grow year after year; frugal living is having your house paid off and being completely free of all types of debt.

Frugal Living equals Financial Freedom.

Tessa-Marie

WHAT YOU WANT VERSUS WHAT THEY WANT YOU TO PURCHASE

I had an encounter at the mall earlier this week. I needed to get a short, white jacket to wear with my summer dresses.  I entered a store, was looking around when this young lady came to assist me in selecting my purchase, asking whether she could help me. I explained to her what I was looking for and informed her that I had already looked around and did not think they had exactly what I wanted.  She said that she would check her stock at the back and, after a few minutes, came back with several ladies’ jackets. I looked at each one and kindly explained they were not what I asked for.

The young lady began explaining to me that the shorter jackets were out of style and these are the latest fashion. They were seen on the runways of New York and Paris.  I again told her that I wanted a specific jacket.  She said the benefit of having one of these jackets is that I could go from spring into summer and then right into fall. The colours she had were spring and summer colours.  I explained again, in case she had forgotten, that I wanted a short, white jacket. She then informed me that white, as a colour for spring and summer, was out and the popular colours were bright green and bright yellow, and if I got one of those jackets I would be the envy of my friends.  The price is great, she said,it is at 50% off today and if I had a friend who is a senior I could get an additional 15% off.

As a former sales person myself, I must commend the young woman; she new the benefits of her product, she did her best to sell them to me, she informed me that I would be right in the fashion of the times since this was seen on the runways of New York and Paris for the spring, and that I would be the envy of all my friends with my new runway jackets. Then, she went for the jugular by informing me of the price and the discounts.  Who in their right, impulsive mind could let that amazing sale pass?

The sales woman did not hear my needs, she wanted to sell these jackets and her job was to convince me that I needed the jackets even if I had come to the store for something entirely different.  My needs were completely forgotten. She had an agenda and it was to sell me those jackets. I love these encounters and when I get one of them I often try to put myself in the place of the impulsive shopper.  What would an impulsive shopper do?  Would she agree with the sale person and purchase the runway jackets?  What then would she wear with those summer dresses?  Would she now have to purchase something else to wear with these new jackets, I know she could not wear the jacket without a skirt or a dress?   So the impulsive shopper would leave that store with a bag full of unintended purchases, a maxed out credit card and a belly full of regret before even getting home.

I politely told the young lady that I was not interested in the jackets and left the store.

When you go shopping, you should always be sure of what you are looking for and how much you plan on spending. Remember that the sales person’s job is to get you to buy what they have in their store. You must be aware that they are not your friend, you just met them and they are doing their job… and some can do their job very well.  Often, when we get into those stores and the sales person is helping you, they already know what has to move from the store today.  There was a sales meeting prior to opening and the manager gave them their target for the day or for the week.

When you enter a store you are swimming in unchartered waters.  Be careful as you might drown in a sea of debt before you know it. The bright, spring sunshine can push us into spending more than we plan this season… especially after the cold and snow-bound winter we just experienced.

Take your time and plan your shopping wisely. Take a friend who will tell you the truth no matter what and do not depend entirely on what the sales person has to say.

Tessa-Marie

 

APRIL 2^ND 2013