Everyone is using the term ‘sustainability’ these days – heck, even I’m doing it! I’ve traded the word ‘frugal‘ for sustainability. Why? Too many people think of ‘frugal’ as cheap or coupon-clipping and not what it really is – smart and continuing. To sustain one’s lifestyle as in living within one’s means. Sustain-ability.
Mostly, the term ‘sustainability’ is used when referring to the environment but sustainable living can happen for the wallet, too. And, when your wallet is living a sustainable life – meaning one that can afford today’s lifestyle while still considering what lies ahead in the future – everyone is happier. And when you’re happy about your financial picture, there’s less stress which makes for a healthier life, too. (Healthy and frugal living make a good pair – find out why.)
Happier and healthier living based on the sustainability of a wallet? Yes. It’s called budgeting.
Budgeting is how we have money to do what we really want. Whatever financial goals there are – building a nest egg, saving for retirement or traveling the world – knowing how to budget, save money, and be frugal helps us get there.
The only way to have money is to save it. The only way to save it is to live below one’s means – regardless of income changes. Keeping expenses low and consistent – and living frugally – is the key to having money to save.
Sustaining a lifestyle that’s affordable – today – and takes into account the future’s financial needs makes everyone breathe a sigh of relief. Money troubles are stressful but living and budgeting for wiggle room instead of paycheck to paycheck gives peace of mind. And makes people happier. And that keeps us healthier.
How are you feeling about your finances? Happy and healthy or stressed out?
Go Gingham related links:
Debt – you decide on the level you’re comfortable with
Budgeting and how to track expenses – Part 1
Budgeting and how to track expenses – Part 2
Budgeting and how to track expenses – Part 3
Living a frugal life by choice: strategic frugality
More related links:
- Kiplinger’s “Are you saving enough for retirement?” quiz. I only got four right but you get to take it again. I didn’t bother because it seems like saving more is better, right?
- Wall Street Journal’s “Are you saving enough for retirement?” Good news for 401Ks and super cute photo.
- Time/Money’s “Here’s how to tell if you’re saving enough for retirement” I suggest viewing this as a list and while it’s heavy on infographics, they make some good points.