I am a chronic channel flipper and took note that the few times over the years when we sprung for the deluxe cable package, I ended up flipping channels more than enjoying the shows. Let’s take a look at a few simple examples. The frugal person must understand these facts about services in the U.S.A and consider carefully.Īt the top level, considering services is still a basic need vs. Additionally, the demand for a particular service often exceeds the supply which can drive up the price. There are not enough skilled workers in the service industry. Many of the daily aspects of our life where a material solution was present in the past such as a computer hard drive or TV antenna, have been replaced by a service provider. Before I share, a quick primer on frugality as it relates to services.Īmerica is a service-based economy and nowhere can the frugal person excel more, than by paying close attention to services. That being said, the other day, I got a reminder of just how far gone we are from our former frugal self. We still got a few years remaining until financial freedom, which we define as early retirement with steady income to live the lifestyle we choose without worry, but we are firmly on glide slope. We’ve been blessed with good employment, successful investments and thankfully good health. What was the root cause for two die hard frugal adults to let one of their core financial truths slip? A bit ironic given these strange economic times we are in frugality is probably more important a financial truth than ever to build and maintain wealth. Make no mistake, it’s still there, but just not as prevalent. It worked for us as it’s worked for millions of others who were able to achieve financial freedom by living frugally in the present to invest in a better tomorrow.īut somewhere along the way frugality’s importance lessened for our family. If you’ve read my blogs or book, “Millionaire on a Worker’s Budget”, you know my thesis that the average American Joe or Jane can’t build wealth without espousing a frugal life. While I believe my wife and I have frugalness in our DNA, I think we’ve lost a little zest for this important financial truth.
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