I’ve had a couple of people ask about my frugal accomplishment posts, considering I claim to be a provident living or prepper blog. So, I thought I’d share a little of my thought process. Feel free to chime in down in the comment section and answer any of the questions or share more reasons and experiences.
The future experience to prep for that I’m mostly concerned about in this post is a loss of income, since it is a pretty universal fear in this economy. I know these reasons may help in other situations, but for arguments sake we’ll consider income loss.
Here are four reasons frugal living helps in preparing for the future:
1. Save Money to Pay Down Debt
If you were to lose all income tomorrow would your debt strangle you? Would your house be the first thing to go? Are you living paycheck to paycheck?
Living frugally frees up cash that can be put towards paying off debt. Reducing debt is a huge part of provident living. Once the debt is completely gone, including the mortgage, you can save more for retirement and a rainy day fund.
2. Familiar with the Process
If you were to lose all income tomorrow would you know how to feed your family? I don’t know about you, but the stress of figuring that part out would be worse than the job loss. Do you know how to cut expenses? Do you know where your income is going right now?
Living frugally has a learning curve, just like anything else. Researching, trying and exploring now, while you have the time, energy and means, is far less stressful than having to learn when every penny counts.
3. Acquire Tools to Make Living Frugally Easier
Have you invested in tools that will save you money?
For Christmas I received an awesome Bosch mixer that helps me make 6 loaves of bread in less than two hours. I save a lot of money baking all our bread; however, that mixer is pretty pricey. If you were to lose all income and HAD to make your own bread you could do it just fine with standard kitchen tools. But, the right tools make that process a lot easier and quicker.
There are canning tools, grain mills, light bulbs, low flow shower heads, energy efficient appliances, sewing machines, garden tools, seeds, etc., all designed to help save money. These things cost money. Purchasing them a little at a time as the budget permits is an excellent investment.
4. Less of an Adjustment
Do you want to continue your standard of living in the face of job loss?
Living on less NOW means that if/when a job loss comes you’ll have less of an adjustment to make. If you bake your own bread and eat from the garden you’ll continue doing so. You don’t have to suddenly switch from eating out every night and buying whatever whenever to only eating at home from the pantry and buying things when absolutely necessary (if at all). Yes, I know there will be some adjustment and change especially being out of work for an extended amount of time. But, more normal in the face of job loss stress means more peace.
I think frugality has a huge part in provident living. Without it I’d never be able to come up with extra cash for my debts, or for money saving tools. Learning how to be frugal and living it now helps me be more prepared.
How about you? Do you think frugal living is valuable for a prepper?