4th of 7 Habits of Highly Frugal People

frugal people

winner3 4th of 7 Habits of Highly Frugal PeopleToday we are looking at the fourth habit of highly frugal people.

The first three frugal habits we’ve looked at are:

One of the prevailing themes of the book 7 Habits of Highly Effective People, is the fact that to change your life you need to change your attitude because no one else is responsible for what happens to you but you. You can either complain about the things you don’t like in your life or you can set about changing them. Not surprisingly, this directly relates to the state of your finances.

If you are tired of being constantly broke, behind on bills, missing a lot of fun in life

…then you can use the seven habits of highly effective people to take control of your money situation and live a more frugal lifestyle, and a happier one.

Frugal Habit Four: Think Win-Win

Human beings are born with a strong sense of self-preservation; we quickly learn to reach for our share of whatever goodie is available.  Soon after learning to reach for what we want, we experience the crushing moment when someone else grabs the last cookie or the biggest prize….from then on we think that winning means someone must lose….in the case of the last cookie, you lost and that did not feel good! By the time we are adults, we are fully trained to ‘get mine first’ and disregard others.

Thinking in a win-win mindset allows you to see mutual benefits from your interactions with others. If you approach conflicts and problems with a win-win attitude by showing integrity and standing up for your true feelings and values while having consideration for the feelings and ideas of others, you will have created a win-win situation.

How to create frugal habits and win-win situations:

  • Recognize that you don’t always know the full story. As you aim to implement frugal principles and stick to a budget you may often find yourself thinking ‘it’s not fair’. It’s not fair that someone else gets to go and do and I can’t. While you may forgo some pleasure now, you will also avoid the problems of too much debt, worry about money and other issues that others are not likely to make public.
  • Understand the difference between possessions and net worth. While your friends and family may seem to have a fuller lifestyle because their house is bigger or their car is newer you need to consider how much debt they are hiding behind those possessions. True wealth is not measured in possessions but in assets and when the value of your assets is greater than the amount you owe in mortgages, car loans and credit card debts then you have a strong net worth and are truly wealthy and in aiming to live a more effectively frugal lifestyle you will be able to achieve true wealth rather than just a life full of stuff.
  • Get Over It: Understand and implement the 7 Habits I am sharing with you; get over the attitude that frugal is ‘poor’ or ‘stingy’ or ‘cheap’. Frugal means to maximize the benefit of your time, effort and money so you can enjoy them more!

If you are considering owning your own business to further maximize your time, effort and money, I urge you to take a look at the team I work with.

Here’s how you can attend a webinar ‘sneak peek’ at the team and what we do.

This entry was posted in Creating New Income Streams, Getting Connected, How to Hints, Mindset Training and tagged blogs, focus, lessons learned, networking, retirement income, work at home. Bookmark the permalink.

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