Fandango’s one word challenge today is FRUGAL.
If I was a stick of rock candy, you would cut me open and I’d have this written right through me.
Growing up, us kids never went without the important things, though it wasn’t until I was an adult that I realised and fully appreciated the sacrifices Mum and Dad made for us to have them.
I was always a saver, not spending anything unnecessarily, then when I really needed something, the money was there without having to borrow it. Larger things like a house and car needed some professional financing mind!!
Saving today is a joke as there is no incentive……… I actually have a preferential rate on my savings account, and that is…….. wait for it, wait for it ……… point 25 of one per cent.
Put that into monetary terms, every one thousand pounds in said savings account for a full twelve months will attract £2.50 in interest. Wow…. not.
Hubby and I have always been frugal in the way we live. It hasn’t necessarily been a bad thing, but we got caught in negative equity with our first house in 1990 so counting the pennies became second nature. The only extravagance we had was 1999 to 2006 when we had new cars every couple of years because we were both in good jobs.
Following redundancy and a change of lifestyle, this was one of the first things to end, and when it was announced that we would have to wait longer for our State Pensions (me an additional 6 years), then the frugal bug took hold again and we lived accordingly.
The boat was simplistic living and our frugal spending habits the norm by now, so the transition from house to water wasn’t as catastrophic as it could have been.
Moving back to land in 2017 worked out OK even though we had nothing so had to start building a home from scratch. We were doing well with the moving budget until we discovered we needed a new boiler and that took the rest and entire furniture pot.
My skill of money management was tested again when Hubby’s disability was reduced by 60% and our income diminished by £2000 a year.
According to our government’s website, we are considered to be in severe poverty. Living frugally is therefore not a choice, but fact of life for us and we manage with no handouts or help with household bills because basically, we don’t qualify. It is indeed a blessing that we have no rent or mortgage and don’t owe a penny to a soul. If we can’t afford to buy it, we don’t have it.
How other people on low incomes are coping, especially those with families , mortgages and debts to pay, is beyond me.