Timeless Advice

My mother in law was looking through a very old church book yesterday and found a bookmark in it. This bookmark was from January 1925 and it had the following printed on one side, apparently a handout from the Grant Stake of the Church of Jesus Christ of Latter-day Saints. These words ring as true today as they did 84 years ago. I find item #10 to be especially insightful considering the time it was issued...just 4 years prior to the stock market crash and the beginning of the Great Depression.

FINANCIAL STANDARD

1. Work and Earn. Never expect to get a dollar without working for it.
2. Pay Your Tithing Promptly.
3. Save. "If you can save, you will be successful (financially). If you can't, you will not."
4. Make a Budget. Practice thrift and economy.
5. Buy for Cash. Keep out of Debt. Possible exception to this rule may be made, if necessary: a) for a mission, b) for an education, c) for a home, d) for an income (I believe that means to get started in business, perhaps)
6. Keep a Record of Expenditures. It has been said that that man is not likely to fail who keeps an accurate account of his assets (and liabilities, if any) and of every dollar he spends.
7. Own Your Home.
8. Never Break Your Word or Your Contract.
9. Carry Life Insurance.
10. Secure an Income. Choose safe investments. Avoid get-rich-quick stocks and schemes that promise lavish returns. "6 percent and safety" is a good motto.
11. Take Care of What You Have.
12. Share with Others.
13. Consult with your Bishop.

Slogan: "We stand for sound financial practice."

--Standards of Right Living, Ward Teaching and Home Evening, Grant Stake, January 1925

It's All Personal

One down...

I made it through my first week of unemployment. For the most part, I love the freedom of being in total control of my schedule, though I feel like I am trying to do too many things at once (those of you who know me know that this is the story of my life). I'm trying to remain upbeat; reminding myself that we have some "time" to figure out my next step has been a little challenging, however.

One thing I've been thinking about this week is how personal the topic of frugality is for each of us, regardless of our financial situation. What works for some will not work for all. I read an e-mail newsletter earlier this week about unemployment, and how to survive it, and some of the things that the article said were "must-dos," like cutting cell phone, internet, and cable TV, are things that we are not willing (at this point, at least) to do. And, in our case, and many others, having a cell phone and internet connection is pretty critical to searching for a new job. I think my husband would tell you that cable TV (and TiVO) are second only to air, water, and food. The first things we cut (newspaper subscription, eating out, etc.) might not be the first things you cut in a similar situation.

That's how it should be. I'm not going to say that anyone should do anything in this blog...I'm gonna tell you what I do, how we handle things, and let you decide. That's the beauty of the blogosphere.

Disclaimer

I need to make a disclaimer before I go much further with this blog:

I am NOT an expert at this. Not even close. Between what Rob and I make each month, you would think we could do better than just living paycheck-to-paycheck, but we don't. Other than our mortgage and our home equity line of credit (which is how we financed my Sienna), we don't have any debt. It's a struggle, though, and so often I feel like it shouldn't be. Many times I feel I am failing more in this area than I am succeeding.

But, I am trying and I have found a few creative solutions. Part of deciding to do this blog was that it would commit me even further to being resourceful and frugal, and help me find more ways to save money, resources, and time. So, we're in this together. I hope I will hear from you often--weigh in on my ideas or leave one of your own.

Real-Life Frugality: A Mission Statement

I've been mulling over ideas for a second blog for a while now. Lately, my mind has been a little preoccupied with the economy: the price of gas, food, and other commodities; finding ways to raise a little extra money, pay off the car quicker, and set some money aside; and (last but not least) how to reduce the carbon footprint of myself and my family, and consume fewer resources. It's a lot to digest, and I didn't think it was quite right to use my family blog for such thoughts.

So, here we are: Real-Life Frugality. I got a little overwhelmed by the huge numbers of websites and blogs devoted to this subject. Some are very good, with very practical ideas; others are what I would call "way out there," and while I applaud their efforts, I just don't think it's practical for me to try to eliminate all plastic from my life, for example.

But there are things, most of them small, that I can do—that we all can do. In this blog, I will share ideas that work for me, and invite you to leave your comments on what works for you. And, in time, our small changes will hopefully add up to larger results. Are you with me?