Frugality and Simplicity

I've been thinking for a while about how high my outgoings have become. Lately I've been haemorrhaging money, largely due to the costs of moving, but also due to just spending because I feel like it. Also, I'm getting a bit worried about the cost of living. I'm not extravagant, but I suspect a lot of dosh is quietly slipping through my fingers.

I want a more simple life. I want to stop spending thoughtlessly.

For example I started to become one of those parents who buys their kid an ice cream whenever they ask, just to avoid hassles, and my daughter had started to expect that whenever we were out she could get a treat of some kind. Not good. We've also spent too much time in cafés eating food that is yummy but overpriced, eating takeaways and just generally frittering money.

Until recently I had an overdraft and credit card, both of which I nibbled away at with inconsequential purchases that I wouldn't have bought if there hadn't been easy money to borrow available. Being self-employed, my income tends to be feast or famine and it was so frustrating to receive a big payment and using it to pay off overdraft or credit card debts. 

I don't think it is teaching my daughter good values, and it definitely isn't doing my finances any good. Just because I can, doesn't necessarily mean I should when it comes to spending money. Especially if I want to get enough dosh to eventually buy a house in the area I'm living in or somewhere similar.

I also have a goal. Part of my mortgage is in a flexi account. I want to have that part of the mortgage paid off this year. In order to do that I'll need to generate a fair bit of income and all the money I save from my frugal habits will go into that account as well. I just want that debt gone.

So my New Years resolution, which is a bit late, but then I have been known to  procrastinate at times, is to have a frugal and simple year and get back to basics.

My biggest weekly expense at the moment is definitely housing, but I like living in an area where I can sleep at night and where there are lots of beaches, parks and walks close by (all free entertainment so I guess that is kinda frugal), so I'm not moving. I bet I can save on lots of other areas though. I've already cancelled the overdraft and paid off the credit card, so that's a start.

I quite enjoy being frugal and appreciating the simple things in life and I think it is better for kids as well. Today Stella and I went down to one of the many beaches around here. We collected shells, made sand sculptures, and didn't spend a cent. We had a great time. Now I'm all inspired to bring frugal habits into some other areas.

The first step is making a budget and working out exactly what I do spend at the moment. Not really looking forward to that, frankly, as I think it is going to be scary. The next bit is the fun part - working out where I can save, and how we can live well on a smaller amount. I've already worked out that for us it makes more sense not to do a big supermarket shop as I tend to buy more than I need, and throw things into the trolley that I wouldn't normally think to buy, or buying too much perishable food and then having it go off. I'm doing our shopping in bits instead and it is working out better. I'll need to keep an eye on how much all the 'bits' are adding up to though. 

If anyone else is interested in frugal living, I use this website for frugal tips and tricks, which includes a forum. Some of the folks on this forum are really frugal, more frugal than I'll ever be!