Industry, perseverance and frugality make fortune yield”
– Benjamin Franklin
But how? Here are some quick tips.
A. Your Possessions
- Take inventory of everything you own or have – at home, at work
- With this inventory lists, identify items you do not want; give those things away who may want it
- Do not use more than you need
- Organise those items that you think you want – group it, classify it and find place for it accordingly
- Books: Don’t buy/ own books, use a public library instead
- Clothes: Clean your closets, learn to dress minimally
- Travel: use public transport as often as possible
- Use electricity consciously; Use water conservatively
B. Your Time
- Do a time inventory for 2 weeks and then ask these questions
- What was the time for productive and rewarding work?
- What was the time that you particularly enjoyed, or renewed your energy, spirit and motivation?
- Where was the time for your personal goals and dreams?
- Where was the time for you to plan your work and organise your home/ life?
- Establish a regular, weekly shopping and errand day
- Break down projects into tasks; schedule those tasks and work on them consistently
C. Your Money
Simple. Spend less than you earn.
“Income 20 pounds, expense 19, results in happiness; Income 20 pounds, expense 21, results in misery.” – Charles Dickens, in ‘David Copperfield’.
- Get rid of ‘luxuries’ you don’t need
- Make and keep a budget
- List major monthly fixed expenses you have – rent, phone bills, insurance, travel
- List average monthly costs for other regular expenses – food, electricity, personal care
- List one-time/ rare lump costs – medical care, etc
- Save for your particular expenses – Marriage, House, Education, etc.
- Exercise regularly
- Have a strict sleeping pattern
- Have a regular eating habit
- Take a health vacation