Frugality Is Not Shameful

Recently, I’ve had the chance to get acquainted with people who are engaged in financial literacy. To balance it off, I’m also acquainted with people who would run to the malls once they see the bold word SALE splashed across the walls of every shopping center in the city. As Boy Dubai mentioned in his article 50+ Practical Ways To Save Money In Dubai , a sale is not really a sale. Read this article through and learn how you can also stay SEXY without having to pay a gym membership that cost thousands. No kidding! I (still) practice most of the things he discussed in the article; and because of it, I was able to give more to others, which is further rewarding.

If you’re in your 30s, and you're an employee, and you want to live a comfortable life in your 60 plus years, there is no other chance to start saving but now. It doesn’t matter if you’re earning more than $5,000 a month at the moment. With the current crisis, and the threat of robots taking over most support-service professions in the near future, it is time to think if you can re-sell the bag you just bought for $1,000 for no less than $800 once you face a personal economic mess.

“But Rachel, it’s a SALE season! I work hard and I need to reward myself!” I’m guilty of the same when I was in my early 20s. I would call up my best friend Les and bear the good news that the stores are 70-80% off across the metro. We would plan our night out and splurge on things that would only be kept in our closet for almost an entire year. The good thing that came out from that experience is that I’ve been able to share a lot of those blessings when some disasters struck our nation, or when a church ministry gathers donations for local refugees.

I’ve nothing against anyone’s choice of gratification; and yes, we do need to reward ourselves, but with prudence. What I’m only saying is, if you sincerely want to retire without having to depend on anyone for your medical fund, or when an emergency strikes, it is better to be ready than sorry. I’m grateful that my parents have embodied what they have taught me when it comes to saving; of course when I was in high school, I could not see the whole point of it when they say, “Para sa future naten yan” (It’s for our future), and I wept when they refused to buy the latest gym pants that everyone in my class already have, unless I get a high average by the end of the current quarter. Now that I personally saw the fruits of their financial management, I can’t help but wish I started sooner. I no longer see my father as “Mr. Scrooge”, but as a “Clever Visionary”.

I attended a social event a little while back wherein someone came up to me and asked, “Bakit hindi Burberry ang bag mo? Maganda naman trabaho mo! Dapat nga, naka-Balenciaga ka pa!” (Why is it your bag isn’t Burberry? You have a nice job. You’re supposed to own a Balenciaga!) I just smiled and said I invest my earnings elsewhere. Thing is, I’m conscious where I devote my savings and time. For me, life is all about experiences; and I would rather splurge on something that is not only beneficial for me, but for the people I care about; not gather dust in my closet. Sacrifice pays, and the smiles on my family’s faces could never be bought by something else that I could have spent on myself. I’m not ashamed that I make my own tea in exchange of being able to treat my family to a relaxing getaway for a few days. At the end of the day, no one else is going to benefit from your choice of investments but yourself and your loved ones. Spend wisely.

Xoxo.