WOW Word-Of-the-Week #308: Frugal

June 22, 2010 by  

WOW Word-Of-the-Week #308

Frugal – practicing economy; living without waste; thrifty.

Jacqueline, Nikki & Sheridan

Jacqueline, Nikki & Sheridan

Do you consider yourself to be frugal? Do you recycle? Do you use coupons? Do you love a good deal?

I have a post card on my desk that reads, “frugal is such an ugly word.” It cracks me up every time I see it. And all the people that know me well know I love a “bargain.”

Last week’s WOW generated lots of feedback about the youngest generation. Jane wrote, “My grand kids are very smart and yes – know about money and its value.”  As a parent and/or a grandparent do you talk about money with them? Do you let them have everything they want? Do you talk about different saving and spending options?

We take our older grand kids shopping for their presents. They know that if they buy items on sale they get more. On one of those shopping trips last year we had Sheridan & Jacqueline, the four year old twin granddaughters. While looking for clothes for Nikki, our eleven year old, the twins spotted dresses they liked. I said, “Let’s go see what’s on sale.” There wasn’t anything we liked so I went back to the dresses they picked out, took them off the rack and said, “We could get you these for Easter.” On the way to the checkout stand Jacqueline said, “We should put these back and wait for them to go on sale.” I was shocked and proud at the same time. (I would have never given up the dress.) And clearly their parents get lots of credit.

As adults we are responsible for teaching them how to save and spend. I did a program for a country club and one of the other speakers was a financial advisor talking about this very subject. This week think about what frugal means to you. How do you feel about recycling? Do you talk to your staff, your kids, and/or your grand kids about the economy?  Do they think you are an ATM machine? Do they appreciate what you do for them?

Reader Responses

“I love a bargain also!!  Years ago we bought a car and  by the time we paid it off, we only paid a total of $200 in interest on the loan – LOVED IT! However more recently I was at an estate sale and offered less for a table (my son is moving off campus, so I didn’t want to spend much on furnishings). The man did take less because I was also buying a chair . . . but then he mentioned that all proceeds were going to the cancer society. Of course now I could not pay less for the table, so I told my brain that I got the table for less and made a donation to the cancer society. So it was still a bargain – Nick got his table and hopefully my ‘donation’ will assist in finding a cure for cancer! I so love your weekly emails and your commitment to helping so many people be better, stronger, smarter, kinder, and more human.Thank you!!” – Mary