Being Cents-able

I purchased a used copy of Your Money or Your Life by Dominguez and Robin and it became one of the many books waiting to be read in my room. Frugality has been a large part of my adulthood out of necessity. This book came up in Internet reading I did on that subject and since I was having a very bad year at work and longed to quit, the notion of being able to live on less was enticing. Summer, home repairs, and a sick mother sidetracked me.

At the end of the summer, as we watched financial institutions fail and the stock market fall like a lead brick, we learned that there was a possibility of my husband’s job ending and our income being drastically cut. My quitting was no longer an option, but the urgency to stretch our money was renewed. After some digging through the stacks of books in my bedroom I found Your Money or Your Life and with highlighter in hand I began to read.

The book is not about creating a budget. It is about developing a new appreciation for your time, life energy, and knowledge about where that and your money goes. I am still in the baby steps of financial independence and living the sort of life my heart yearns for, but on the 8th of January I paid off Christmas and today I put $100 into savings.

I must note that I am the one reading the book and attempting to change my life. My husband is frugal by nature, makes a great deal more money than I and we have different spheres of financial responsibility. I say this to point out that my finances amount to my salary and the drizzles and drabs of money I get each monthfrom other places. My resources are responsible for food for six, sundries for three, and clothing for two along with gifts, a YMCA membership, music lessons for my grandson and a tutuor for my Special Needs daughter. That said, if you are interested in my financial journey, read on.

Your Money or Your LIfe

More than once on this blog site I have been accused of attempting to destroy the American economy through my advocating thrift and a return to Benjamin Franklin’s admonition that “a penny saved, is a penny earned.” Our insatiable consumption as a nation has led to our current economic crisis. We came to believe that we could have the American dream through credit instead of through saving. “If I want something I’m going to buy it” was one comment left when I had the temerity to suggest a return to the original spirit of peace on earth at Christmas instead of massive debt and conspicuous consumption.

Once again Americans are showing their “right stuff” by a return to the value of conservation of financial resources. Gasoline is coming down in price largely due to American conservation. People are availing themselves of public transportation in record numbers. We are putting off purchasing big ticket items and beginning to save for them. Many are cutting back on holiday shopping and finding creative ways to express their love for family and friends. My husband, who has an extensive LP collection, is making CDs for each of his brothers. The janitor where I work keeps bees and sells honey. Buying seven jars of his wonderful raspberry honey at $5 a jar made both of us happy and eliminated shopping for my sisters-in-law. This saved gas and time and fulfilled my own requirements that gifts be consumable.

I am in the process of reading Your Money or Your Life by Dominguez and Robin. Not only am I striving to buy less, I am attempting to let go of things I already have. Thrift stores have been busier than ever, but I plan to keep them well supplied as I go through closets and cupboards getting rid of things that are doing nothing but weighing me down. I highly recommend this book which is available used at “Half Price Books” in Tacoma and on Amazon.com.

Another great book to give/receive for Christmas is Sarah Ban Breathnach’s Simple Abundance; A Daybook of Comfort & Joy. This lovely book is a day by day reflection on simplifying your physical life while enriching your spiritual life. It can be started at any point of the book/year, but New Year’s and its attendant feeling of fresh start is a wonderful time to begin a journey that will enrich your life and wallet.

If this topic interests you, keep an eye on my The View From My Broom blog.