You might have noticed that you’ve never seen a “this is how I’m extremely frugal” video, because I’m NOT extremely frugal. I know one of the reasons some of you watch me is because I do strike a balance between saving and spending. I’m not extreme, I get results. I find endless abundance and pleasure with this frugal lifestyle. The KSquad traditionally uses SOME of my tips and does them the same way. They take SOME of my habits and completely throw them out the window because those don’t work for you (like maybe some of you would never consider looking at your accounts every day). And some, they will tweak to adjust and fit their family needs and THAT is what I think this is all about. Of course, if you’re measuring… levels of frugality are subjective, but in general, I consider myself CONTEMPORARY frugal, which in my mind is a mix of classic frugal practices, along with practical current strategies that make sense for me and my family during the current times. Contemporary frugal is all about making it your own…for you…right now, as things currently are. 

Thanks KSquad member, Bonnie for this topic idea. She was wondering if I could share how I achieve balance between spending on hobbies/experiences and not be too extreme with either way. 

I often take into account the opportunity cost involved in each task. Some things I find worth my time, money and energy, some do not. I’m always looking to reach my goals by utilizing my time, money and energy in ways that are the least wasteful from my perspective. This WILL greatly vary from person to person.

For example:

Classic frugal move: hanging laundry on clothesline to dry

Do i think it saves money? Probably

Do i think it would make my laundry smell good? YES

Am I going to do it? NO. I’m all about my dryer. Saves me time. I like the convenience of it. That’s MY choice.

Classic frugal move: making things from scratch: like bread

Do I think it could save money? Probably

Do I think it would taste great? YES

Am I going to do it? NO. Again saves me time not making the bread. I like the convenience of buying bread at the store. Store-bought bread is MY choice.

Classic frugal move: Carpooling: 

Do I think it would save money? Probably

Do I see the value in it? Yes

Am I going to do it? NO. This is quality time with Kaden as we drive to and from school and work and I value that alone time. We have some of our best conversations during our drives, so I choose to keep it just us. That’s MY choice. 

I realize that some of these I GET to make a choice and I’m grateful for that. Sometimes we don’t get a choice. Some people don’t own a dryer. They don’t have room for a dryer. A dryer isn’t in the budget.  Some people don’t own a vehicle. They don’t want one or the cost is too high currently to cover the cost of buying it, the gas, the insurance. We’ve got to do the best we can with what we have and make choices that are most appropriate for us. This is NOT for anyone else to decide. This is a PERSONAL decision that we must not look to others to make FOR US.

If you consider yourself frugal in ANYWAY, type in the comments I’m Frugal and represent!

As a Contemporary Frugal person, I’m not accustomed to ALWAYS doing anything. I’m more likely to do things SOMETIMES or in spurts as I have mentioned in a previous video…EXCEPT BUDGETING. I ALWAYS BUDGET. Every single month. WITHOUT FAIL. That’s the ONE, LONE item in my ALWAYS category. But while there is ONE always item, there are a few things in my NEVER column. Never Have I Ever? Frugal edition?

Even though I don’t practice EXTREME Frugality, here are 3 things I NEVER do:

I NEVER spend an entire month’s income without putting some in savings or putting money towards my house debt.

I NEVER forget to give at least SOMETHING each month.

I NEVER deprive myself of some fun each month by setting aside some money in my “lifestyle” category

Now is your turn. Leave me something you ALWAYS do or something you NEVER when it comes to YOUR style of frugality.

I make videos on YouTube and release them every Friday, affectionately known in our community as Frugal Friday and we’d be thrilled if you joined us for our conversations on frugal living, budgeting and saving money, each week.

Watch the video here: https://youtu.be/Lax-9zLVZfM

-Kate