How do you plan personal finance while maintaining frugal lifestyle?
It is not easy to maintain money management while living frugal. How do you manage money decisions without giving up on frugal lifestyle?
I make a chart and I record every time I spend money. From big supermarket purchases to buying a newspaper from a vendor. I find that helps me realize where my money is going, and what can be cut out.
Also, before making a purchase I always ask myself 'do I really need this?' Especially if it's something like a piece of clothing or something expensive. Is it something that I will use a lot? or not really? If it's something that I know I will use a lot, then I buy it as I see it as an investment. Otherwise, I normally don't bother with it.
By knowing where every penny goes. For example, the envelope method is rigid in where you are allowed to spend your money. When you're married, living frugal is more difficult because there are two of you and sometimes your husband doesn't always stick to the budget. He might come home with a hammock or new video game or spend double your food budget. When by yourself, it's much easier to manage your money.
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