We’ve discussed the five life standards, now it’s time to start simplifying! Our first topic is money and stewardship.
Someday I’ll give the whole novel of how things worked in my first marriage. Let’s just say I made many, many mistakes, including how I viewed money and credit.
It’s harder these days to get credit and huge loans on cars and homes, and I think that’s a good thing. Choosing to get off the credit treadmill is so freeing. It’s not about depriving yourself; it’s about living by the life standards that we talked about in previous weeks.
Do Justice: How can I be sure my money is not harming others, or purchasing products made injustly?
Learn from the World Community: Does what I want to buy exploit others?
Nurture People: Am I spending my money in a way that puts people first, above things?
Cherish the Natural Order: Is the product I’m about to buy environmentally friendly?
Nonconform Freely: am I buying this because I NEED it, or because I WANT it?
As you can see, it’s not just about NOT spending money; it’s about making purchases that uphold the life standards. Buying fair trade coffee might cost more, but it is in line with cherishing the natural order and learning from the world community.
Tips for Simplifying:
Don’t go shopping. I know, sounds sort of obvious, doesn’t it? I rarely just “go shopping” anymore. In fact, I try to find ways to get things I want outside of typical big box stores. I get my vegetables from the farmers market when possible; bulk grains from a health food store. I try to choose recipes that mostly use those items, and if I need anything from the store I make a list and stick to it. By the way, this applies to online shopping and browsing catalogs, too!
Set a budget. Or at least some sort of system where you know where your money is generally going. Some sites that help are mint.com, Dave Ramsey, and Crown Financial Ministries.
Read frugal blogs. There are lots of them out there, and it helps getting tips from real people. It helps combat the “buy now!” messages with which we are bombarded.
Before you buy anything, ask the following questions:
- do I really need it?
- can I borrow it from someone?
- do I already have something that does the same thing?
- can I repurpose something I already own, or find one secondhand?
- is there a fair trade or environmentally friendly version available?
- can I afford it?
What are YOUR tips for living simply when it comes to money and stewardship?
This post shared at Frugal Friday
We buy almost everything second-hand. If something doesn’t work out for us, we pass the deal along to someone else. This keeps money out of the hands of corporations, saves resources, and reduces waste. Hubby and I have been especially lucky finding great backpacking gear and the gadgets we like, for ultra cheap. There is stigma surrounding these items though. People often don’t ask how we came about them, and judge us for having pricey gear. I guess you’re only a saint if you do without. 😉
Oooh, can you share tips for finding that type of equipment? I have been wanting to do more outdoorsy vacations but the gear is kind of $$.
Yeah! Besides ebay and craigslist there is also geartrade.com. You can do a nationwide search on craigslist and ask if the person is willing to ship to you. Also, hubby has gotten some gear from forums, like backpacking light. Mainly it takes a lot of patience and online searching. The best deals are often listed incorrectly. Local thrift stores are also great for technical clothing, like hiking shirts that vent. I like the thrift stores near colleges because kids seem to make more time for adventure, but they are still in the middle of “growth spurts” so a lot of nice clothing ends up being donated.
Have you heard the philosophy that if you can’t afford to buy it fairly, you can’t afford it? Well, I agree to a point, but I also know it’s unrealistic in the US where everything is sold dirt cheap, somewhere, and poverty is still rampant. I think if something like coffee, can’t be purchased fair trade, then it should be bought as cheaply as possible and used incredibly sparingly. Adding value to something that most people don’t is another way to change. Eventually this person could upgrade to fair trade coffee with the money they saved, and still use it sparingly because they have learned it’s value. This was our approach to tea and coffee when we lived below the poverty line. It’s also how we deal with the cost of meat right now. Meanwhile we are saving up our money to go halfsies on a local pig.
Great tips Wendy!
My advice is similar to yours — don’t go shopping, track your spending, and really think long and hard before you purchase something!!
Excellent post, Wendy. The bottom line is identifying what you really need vs things you just want. Society teaches us we can and should indulge in whatever it is we might want. The key is finding ways to get what you need less… and limiting those things that we may just want. I don’t think we have to deny ourselves a few little luxuries, but like anything else it’s about finding that healthy balance.
PS Don’t go shopping is a good one. I RARELY go shopping. Last night I stopped into Michaels for one item and got sucked in by the dollar section — they have some seriously cute things 😉
As a college student, I count myself lucky that I haven’t succumbed to the temptations some of the other people I know have about just going wild with money…. but even the little bit of damage I’ve done with my credit card is starting to weigh on me 🙂
2011 is the year I want to get healthy in all areas of my life, including physically, mentally, emotionally and financially. I don’t necessarily want to deprive myself of something that I want, but for the things that are really unnecessary and I know won’t add much value to my life in the long run, I’m imposing a penalty system. For example…. I see this awesome black pair of boots. Do I love it enough to donate the black pair I already have? Is that cup of Starbucks hot chocolate worth doing ten extra minutes of exercise (not to work the hot chocolate off, but I hate to exercise, so it represents a sacrifice). If the item or purchase does add alot of value to my life (taking a class on herbalism, for example) then it’s more a question of when will I feel comfortable affording this/when might the benefits outweigh a little bit of financial risk.
that is an awesome perspective!