Wednesday, March 14, 2007

Amy's Live Well on Less

From Amy's Humble Musings comes this post.
Here's an excerpt:

When I went on a radical diet and exercise regimen a few years back, I made the choice to value fitness, energy, and well-being over my addiction to food and laziness. When I’d get a craving, I’d ask myself, “Which do you want more? It’s your choice.” In the same way, a person who is a paycheck away from bankruptcy must decide that they value financial freedom over a double-shot latte. You have to want it. You have to catch the vision. That way, the sacrifices required to move toward the goal become part of the game. I can’t explain it, except to say that I’ve never felt deprived. It feels alright to have a latte whenever I want it, but it feels invigoratingly awesome to take steps toward financial independence. Choose the better thing.

Let me give an example. Now that times aren’t as lean, we could reasonably afford to spend $300 on a crib for Kid #5. But the hand-me-down crib that worked for #1 works just as well for #5. Here’s the thing, though: the side rail doesn’t go down. It never has. I frequent garage sales and listen to playground mommy chatter, but until I can score one for a good price, we’ll just stretch a little more to pick up Baby and keep the crib with the broken rail. (It is not a safety hazard.) The crib is a depreciating asset, and unless it produces income or increases in value, we ought to think carefully before purchasing a new one.

Read the whole post here
One personal thought:
If I was a tightwad, I wouldn't want people to know it. Using run-down and dangerously broken stuff, bragging about feeding your family on $0.53 a plate, and wearing ill-fitting, severely dated clothes all in the name of being a tightwad has no appeal. Saving money is great, but does everyone need to know it?

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