Friday, March 4, 2011

The Virtuous Life - Frugality

"I was once watching a TV show in which a round table of finance gurus were dispensing money advice to the studio audience. One of the advisors said that people should give up little luxuries like a daily Starbucks run and save and invest that money instead. A woman in the audience stood up and cried, “But what if I don’t want to give up Starbucks?” The crowed roared and clapped in approval.

Think what you do when you run in debt; you give to another power over your liberty.- Benjamin Franklin
Frugality Builds Self-DisciplineSuccess in life requires a man to have self-mastery. Learning to control your spending is one way you can develop your self-discipline. The ability to distinguish between wants and needs and to postpone those wants until they are affordable is a mark of a true man. It is child-like to rush out and buy something simply because you feel you must have it now. Maturity means having the self-discipline to live within your means. If you have the tendency to make frivolous purchases, make a concerted effort to not make the purchase. After a while, you’ll notice that it will become easier to fight the urges to buy stuff. Self-discipline in your finances can translate to self discipline in other areas of your life."

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