Thriving on Less – Tools for a Frugal Life

Saturday, January 10th, 2009

The mechanic that would perfect his work must first sharpen his tools.” – Confucius

With any undertaking, it’s important to have the right tools. The same is true when you simplify, scale back, live more frugally and sustainably, and make room in your life for things you love.

We’ve already discussed several key tools. The Short List:

  1. Determining your essentials and eliminating the rest.
  2. A “thriving” mindset where you focus on what you love, not what you don’t have.
  3. An “enough” mindset, where you realize you already have enough, and stop wanting more.
  4. A plan to reduce expenses, both small and large.
  5. Sound financial habits.
  6. Debt-elimination strategies.

Thriving on Less – Changing Your Spending Habits

Friday, January 2nd, 2009

“We are what we repeatedly do. Excellence then, is not an act, but a habit.” – Aristotle

While you can cut costs here and there, the real, lasting changes won’t come until you change your habits. If you currently give in to impulse purchases on a regular basis, for example, you’ll still spend a lot of money despite making numerous cuts in other areas.

An important long-term strategy is to create new, sound financial habits, one at a time. See The Power of Less for more on creating new habits. Use the effective habit-change techniques in the book to change one habit at a time. Here are some important habits to form: