With a passion for frugality, I have read multiple blogs and listened to multiple podcasts about personal finance. It’s interesting how some people are just naturally frugal and others aren’t. Or are they? Is frugality an innate ability?
Below are the three reasons Mr. FAF and I are frugal:
1) Our family wasn’t always well-off.
Mr. FAF and I grew up in average, if not below average, families.
Money for my parents was always an issue. We didn’t have fancy cars or expensive clothes. My parents’ income was just not high. They always tried to save money to make sure we had food on our table and I could afford a good education.
Seeing how much my parents went through to make ends meet, I’ve always been conscious of my spending habit. I always think about how hard it is for my family to make money in Asia before I make an expensive purchase.
Through intentional saving, our parents are in a much better financial situation. It sets a good example for Mr. FAF and I to follow.
2) Mr. FAF and I are independent.
Mr. FAF and I are in America without our extended family. If a catastrophe happens, we need to take care of it ourselves, at least in the short term.
We have to be financially self-sustaining out of necessity. That necessity has definitely influenced our spending habit.
3) We’re driven to achieve our future goals.
Mr. FAF and I often talk about what we want to do and how we can achieve it. An important part of the equation is money whether it’s traveling, buying rental property, or supporting our parents financially.
We’re willing to delay our gratification to reach our future goals. Although sometimes we give up to temptation (i.e. eating out, buying an expensive dress), we know how to regroup and avoid major deviations from our plan.