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One important thing my mother taught me is money management for which I'm thankful. When I was 41 and divorcing my 2nd mate, I knew that was it for me and I would be responsible for having money during my old age, if I were to live that long. My frugality stood me in good stead and now that I'm retired I'm reasonably comfortable and have even been able to help my grandchildren at times and they've repaid if that was the agreement.
I learned long ago that good clothing is often available at thrift shops. Not necessarily those that have a musty smell, but there a nice such shops here and there. I've bought many items from the dollar rack that can be worn to about any place and I go to several places where there is often a need to be well dressed. I realize it helps to be a small person since many items are in such shops because former owners have grown out of the size, but it's to my benefit.
One of my favorite blouses cost ten cents. lol I have several pair designer jeans from the dollar rack.
I have no motivation to be frugal. You only live once, so why skimp on living?
A: Because it's possible to enjoy life without having a lot of stuff or spending a lot of money. Yes, you do need a basic level of income/stuff to be happy...but that required income/level of stuff is much lower than what most people think it is. Pretty much every economist/psychologist who studies the relationship between money and happiness has come to this conclusion.
My mother was a "collector", as were my grandparents. Being the only child and grandchild, I inherited a lot of stuff. I've never felt so liberated nor have I lived so "richly" as I do now that I've divested the majority of the stuff and the rest is on the way to being gone (through consignment shops, etc..). For me, it isn't about getting rich, being rich, etc... I don't mind spending our hard earned $ on the things that enhance our life-- dinner out with friends, a much-needed tool for the farm or a bottle of wine that we both enjoy. Money is a tool to be used to enhance life...that's it. I consider us both frugal and on the road to becoming minimalist. Yes, I do think that the two - frugality and minimalism - compliment each other but are not necessarily always found together. My mother was a perfect example of that
1) Peace of mind
2) Saving
3) Investing
4) Freedom
The idea is to know what your expenses are ahead of time. Once you get a money management system down, although you actively manage it, it basically runs itself. This means that you become a free radical that can do whatever you want. The less I spend, the more money I can make via investments (potentially). That is not to say I am the greatest penny-pincher ever, but the system I use helps provide for all of the above.
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