Page 8 - EQ Mag-2019
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                                                                                                                                                           BUDGET & FRUGAL

                                                                                                                                                           Lifestyle Stories

                                                                                                                               1. Patience with Money Decisions – Wins!                   cooking at home vs. eating out have been very helpful.
                                                                                                                                                                                          Adriana Wallstein — Fredricksburg, VA
                                                                                                                               The biggest money saver discovered is patience!
                                                                                                                               Do your research and know what you want, then wait for a   4. Fast Mortgage Debt Reduction
                                                                                                                               sale, then purchase the item, you’ll save a huge amount of
                                                                                                                               money.  This tip will help you have 50% or more so many    I would like to give you an update on my progress. I just
                                                                                                                               times, so be willing to be patient and the money you save   finished paying off my credit card bill and am now working
                                                                                                                               will grow.  Patience really helps save money!              on paying down my mortgage. The trick I used was to make
                                                                                                                                                                                          bi-weekly payments on my credit card bill. Then when I
                                                                                                                               2. Frugality Has Its Advantages...                         received my income tax refund check, I finally eliminated
                                                                                                                                                                                          that bill! Anonymous
                                                                                                                               Another frugal living success story!  My hubby was
                                                                                                                               downsized out of his job after working there for nearly    5.  Passing Financial Education Down to My Kids
                                                                                                                               twelve years. This could really sink a family financially, but
                                                                                                                               we have no fear because we’re debt-free except for the     I also sat my two girls down and gave them the same
                                                                                                                               mortgage. In addition to that, we have saved up an         education (wish my parents had done this years ago)
                                                                                                                               emergency fund of between six and nine months of living    anyway, fast forward, I use the envelope system for
                                                                                                                               expenses – depending on how much we spend.                 everything,  and I have savings in the bank for the first time
                                                                                                                               We should be fine for anywhere from nine to twelve months   in my life (I am nearly 40) and have paid all my debt off,
                                                                                                                               (and that includes our son’s tuition payments) with a bit of   what a relief! I feel so light and free, my money is for me and
                                                                                                                               focused budgeting and some extra money saving strategies.   my girls, not some faceless company. My girls sit with me
                                                                                                                               Our son has two years of college remaining. Please remind   every month and we do the budget, I find this is such a
                                                                                                                               those out there who are just starting out on their financial   godsend as they can see where the money goes.  They know
                                                                                                                               journey that frugality really pays off! The peace and lack of   that just because I earn X amount it does not mean I can
                                                                                                                               fear that we’re experiencing are something we never want to   afford whatever they want that month. There are outgoings
                                                                                                                               lose.  Sylvia Crutcher, Denver, CO                         to consider as well, and it saves so many arguments and
                                                                                                                               3. Cooking At Home vs. Eating Out Leads to Financial
                                                                                                                               Stress Reduction                                           We shop together, getting bargains and trying to beat each
                                                                                                                                                                                          other with savings, its great fun. Plus, I know I am teaching
                                                                                                                               We are a military family in the DC area and most military   them real lessons for when they are older.  Anyway, even
                                                                                                                               families hate coming here because of the financial pressures   though I am ‘across the pond’ and a lot of the advice is not
                                                                                                                               — it’s very costly to live in D.C. We have been able to take   relevant to me there is still a lot of information I can and do
                                                                                                                               some stress out of our lives by using the Once-A-Month-    use.
                                                                                                                               Cooking concept. Although I haven’t been able to get my
                                                                                                                               shopping down to once-a-month, I am able to make it last   And I wanted to say thank you, as I feel you have quite
                                                                                                                               for 3-4 weeks — that’s pretty close! With rising gas prices   literally saved the roof over my head and showed me the
                                                                                                                               and considering how far away from the base (where the      way and I will be eternally grateful.  Wendy –
                                                                                                                               commissary is) we had to live to be able to find affordable   Cleveland, OH
                                                                                                                               housing, this is fantastic. I’ve learned a lot. I was not very
                                                                                                                               good at economizing and budgeting, but these tips of       Source: Money Smart Family
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