Four Reasons Frugal helps Provident Living

Frugal-helps-Provident-1024x1024

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?

Advertisements

51 thoughts on “Four Reasons Frugal helps Provident Living

  1. Hi o yes living frugally is certainly a good thing..we eat well and live well..saving money here and there is a must for us..we have one income coming in and the cost of living is going up and up.
    I love my food mixer and processor,had to save up for them but wow they have really made a difference to time in the kitchen..which means i have more time to do other things around the home..
    We have a small pantry that is being stocked slowly and money in the bank to last 6 months if my husband loses his job..
    We also have an allotment to grow our own food and chickens in the back garden..eggs everyday..
    Being ready is just common sense..obviously as you say adjusting is hard but if you don’t have to worry about where you next meal is coming from then it gets easier..
    sara

    Like

  2. O chickens are so funny..they all have their own personalities..bossy,shy..and they follow you around like a flock..really good for finding bugs in the garden..ours are called..Poppy,Daisy,Buttercup..poor Primrose died..
    They are just so happy to see you..even more if you have food in your hands..
    sara

    Like

  3. Living frugally is a practice all families should learn and if something did happen, it wouldn’t be such a difficulty. My parents were very careful with spending money and yet we did so many fun things by being creative.

    Like

  4. I hate to say this but I have been there when my husband was out of work for a year and we did not have any savings and my son was only 2. I was always so worried the utilities would be shut off but more than that was we would not have food. As I did go to a lot of charities and sometimes they was out of food and I would have to ask friends and family and sometimes they just did not have it so David and I would not eat so Charlie would have food.

    Like

  5. I agree that living frugally can help you prepare for the future. Even with a good job there are unexpected occurrences like illness that can come up unexpectedly. It’s good to be ready.

    Like

  6. This is a fabulous post. It’s true, I think, that while most people fear a loss of income, most do not know what to do if that happens or how to cushion the blow before hand. Even if you expect the BEST… it never hurts to prepare for the WORST. Great post-Thank you!

    Like

  7. With the way the economy is running these days businesses large and small are implementing cost saving measure to keep going. I believe that families need to be doing the same. You never know when times are going to get tough and you have to be prepared to deal with it. Thanks for the great tips!

    Like

  8. I love this! I am living frugal right now, and I extreme coupon to create a stockpile. I actually wrote a week long series a couple months ago on how I fed my family of 4 7 nights of dinners for only $20 using all the food in my stockpile! We lost most of our income and I knew we wouldn’t go hungry!

    Like

  9. I enjoyed this post and reading your “about” story. It is wonderful that you have come out on the other end of the spectrum and can share your knowledge. We are acquiring tools to help us, and have a strict budget at home that allows us to save up. Stocking up food has not been a worthy investment for us because 1. We live in Hawaii and unless it is canned or put in a freezer, it is going to go SOUTH soon;) 2. We move every 2-3 years, so I feel I save more money in the long run if I only keep what we need on hand. Our first move I had to get rid of(donate) so much food it made me sick! I can’t wait to read more of your ideas, and I agree with #4: the leaner we can live right now, the less of a struggle it will be do it later on AND bonus is when we do splurge on a trip or new item, it really means something to us.

    Like

  10. Such a great post. My family and I live very frugally. I make my own laundry soap, mend our own clothes, statistically shop sales with coupons based on our weekly menu plan. You question of weather or not you could sustain your current state of living without an income, IS GREAT! Really it gets us to think more of the future and the possibility. Most Americans would not be able to say this, we have no debt other then our morage. We work HARD to keep it that way. Thank you for such a great post.

    Like

  11. #1 and #4 made me almost jump up and shout “Hooray!” You’re spot on with these points, Tricia, points that I’ve been trying to teach my husband ever since we got married. I lived in a frugal family where debt was absolutely avoided at all costs, but my husband’s dad was constantly lending money and also taking on loans- strange situation. Nevertheless, Husband inherited more than $75,000 of his father’s debt and is trying to pay it off ASAP but his brother wants to extend the loans for practically a lifetime. Thankfully, they’re meeting this week and my husband’s planning to either convince him to shorten loans and pay it off faster or just hand brother-in-law all the indebted properties and be through with the mess. I’m so happy about that. Thanks for sharing!

    Like

  12. I can’t say I’m where I want to be in this regard, but we are working on it. We downsized our living space (at the same time that we upsized our family!), we have a veggie garden and I make most of my own cleaning supplies. We live in a trailer park, so our options are a bit limited by our lease. Raising chickens might be a problem, but the property owner hasn’t had any issue with our veggie garden. I’d like to expand that this year, now that dh is in less pain than he was last year. Dd loved picking fresh tomatoes or peppers out of the garden the year before last.

    Like

  13. I had to follow your link to even know what a prepper or provident living was, but being frugal would make sense to me to be able to do that. We live frugally, for the most part, but I know I could do a lot better and I should.

    Like

  14. We do a lot of things to live frugally ourselves. We’re trying to pay down debt and doing all sorts of stuff to save a few dollars here and there, mainly with food costs and with cutting our utility bills.

    Like

  15. We’ve been taking Dave Ramsey’s Financial Peace University course and I’d agree that it’s critical. He repeats all the time that today we’ll live like no one else does (ie: frugally) so that tomorrow we can live like no one else does (ie: debt-free and peaceful). I also think it’s better to be frugal and make an impact with the money you have from your savings. How can you be a blessing to someone else? That’s what I work on.

    Like

  16. As a former member of the Church I can say this is part of a very important lesson of living your life. There are many times when I tell myself that we should be more prepared for any given situation. I am so glad that I came across your blog, definitely going to follow 🙂 .
    I need to live more frugally, unfortunately making 6 figures and living paycheck to paycheck is not healthy. Thanks for the wake up call.

    Like

  17. My husband and I try to live by these suggestions. Sometimes it’s hard, but the payoff is well worth it. One thing we have committed to NOT do is buy our kids stuff. Our boys are spoiled on both sides of the family so we feel that there is no need to get anything. To us, it’s just stuff….not adding to our quality of life. We’d rather go on trips and make those memories 🙂

    Like

    1. My kids are way spoiled as well. I remember when I just had two and I felt like I was drowning in toys. I did a major purge and have tried to live by the less stuff rule. Now that I have five kids I cannot imagine what the toy situation would be like if I hadn’t made that change. Thanks for your comment.

      Like

  18. I would want to think that I live using some frugality because I spend so much time budgeting and making sure we have for a rainy day but during that process create debt with credit cards instead of trying to do without. Thanks for the post.. Now you have me thinking.

    Like

    1. Debt is hard. Especially when it is so easy to come by. Everybody offers the buy now pay later mentality, but what happens when “later” includes stuff like job loss. Better to get rid of it as soon as possible or not get into it at all. Good luck with yours!

      Like

  19. I recently started following Dave Ramsey’s principles. In the past 5 months I have paid off 3 credit cards (2 more to go) and put away an emergency fund, which I was able to use to buy desperately needed tires instead of charging them 🙂

    Like

  20. As I’ve gotten older, I realize how important it is to live a frugal life and be a prepper too. I work in a field of healthcare where my senior clients pass away without notice at times. It was pretty difficult when I had to find a new client with the agencies I worked for, which could take a couple of weeks. Now, I make sure to reduce my monthly expenses to what I absolutely need, keep my debts low, use coupons, and save for that rainy day. With the economy like it is, although it seems to be getting better from my perspective, I believe it’s important for everyone to be more aware of their finances. Now, I’m even happy to be launching my small business this year!

    Like

  21. I’d love to live more frugally. We definitely follow a budget however most of our products are processed, factory prepared items. I would love to get back to basics with a chemical free, more natural way. I just haven’t found the time to do this. Great tips!

    Like

  22. This is a tough subject. We live paycheck to paycheck and we don’t spend except for starbucks. We are paying off all debt. Almost done and have an emergency account, etc. and we have 3 kids and one is in private school. I guess if it came to that, which is possible, we would have to readjust and make it happen. I think depending on where you live and your surroundings have a lot to do with your resourses. We live in the desert and planting is not really an option and neither is canning. But I suppose you can do it anywhere.

    Like

  23. Tricia, This goes right along with what we are doing right now – we are facilitating and going through Dave Ramsey – FPU. We are loving this. Yes we do have a bit more debt to get down but we are going to do this. I already make bread myself every other day and I’m planning on getting my garden ready again as I did not grow one this winter – I am in CA so I can do this all year long – however we are in a huge drought right now. Thanks for sharing. Blessings, Tina

    Like

  24. Frugal living can be a tough sell in our culture, where immediate gratification with 0% down offers everywhere, often trumps the common sense notion of “if you can’t pay cash, you can’t afford it.” It is such a basic concept! This point was not driven home until my husband and I enrolled in and completed Dave Ramsey’s Financial Peace University. That was a huge eye opener. We were tired of being a two income family with large salaries, yet feeling like we could never get ahead. It wasn’t until we got on a written budget and clearly defined where every dollar went that we regained a sense of control. While other people were expanding their lifestyle to match any increase in earnings, we learned to save that extra cash. We paid down our debt significantly and have never felt more free. I think your point is well taken about preparing for the future in this way. I never considered that really “prepping,” but I guess it is in a sense. Kicking debt to the curb has given us the freedom to do things on OUR terms, not that of Visa or Mastercard. I see my friends who have yet to learn that lesson and I just shake my head. Bottom line is that you are living a life based on values that you and your family have determined is key to your success–not any one else’s. That is huge.

    Like

    1. Thank you for sharing your story. I’m so grateful we are learning to “live like no one else” because it saves so much trouble, heartache and fear in our lives.

      Like

  25. While we do have some debt, a car loan and student loan. I think we have done fairly well. We of course could definitely do much better because we probably buy unneeded things way to often but we are on the if you don’t have the cash for it you don’t need it. We have credit cards for specific reasons but we don’t have debt on them. That is a bad habit to get into.

    Like

  26. Our family has done a lot better with our finances this past year ever since finding YNAB (www.youneedabudget.com). We have been able to pay off our debt except for the house, & are now living on last month’s income. It’s such a blessing to not have to live paycheck to paycheck anymore! I know I need to get better with our food storage & emergency prep, but we figured we would start by tackling our finances first. Now that we have more of a grip on that, we need to work on the other preparedness things!

    Like

    1. Yay! Another YNABer. We’ve been using their program for a couple years now and love it. I was actually planning a review post soon. Sounds like you guys are on the right track.

      Like

  27. We’re one of those families living paycheck to paycheck, so we try to live as frugally as possible and save when we can. Whatever is left we put towards debt. I hate to even think about what we were to do if my husband lost his job, but living as we are now wouldn’t be so much of a difference if we were to lose income.

    Thanks for the frugal tips!

    Like

  28. I have done a lot of cutting back and try to be as frugal as possible. Thrift stores, homemade electricity use cut-backs.

    Six loaves! I have to look into that Bosch mixer !

    Like

  29. My husband are on a journey right now to pay off our debt. We are hoping to get everything but the mortgage paid off in a couple of months. Our goal is to “save” $200 a week. That hasn’t happened every week, I think it has only actually happened once, but it is a good number to aim for.
    We try to make most of our food at home and live as simply as possible.

    Like

  30. We had some hard times the last few years, and we really learned how to cut back where needed. Thanks to living pretty frugally to begin with, there wasn’t that much of a change. We actually just sold our first house in October and purchased another in December, and a lot of our saved money, pretty much all of it to be honest went right into fixing up the house. We couldn’t live in it otherwise, so that was pretty hard for me to do! Now we are back to square one with building a pantry, saving money, etc., and we are also trying to eat as healthy as possible now, so where we are saving in some places, we are spending in others.. I’ve yet to find something that works because now we ARE living paycheck to paycheck. Not a good feeling!

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s