Monday, April 18, 2011

Making Millions, but still Frugal

I have joked with my family and friends saying that if I ever won the lottery and become super rich, I would still be just as frugal as I am today with my money. Of course, I would make sure my family is well-taken care of and I would help lots of charities especially animal rescue groups and shelters. I read a story under the sports section over at CNN where several NFL players may already be seeking short-term loans with high interest rates and fees due to the players lockout with the league. I am pretty sure a lot of these players make millions and probably live high lifestyles in the way of mansions, cars, clothes, jewelry, etc. I am not knocking their lifestyles and believe some players do save, but maybe not enough. We all have to plan for the unexpected where our livelihoods can change instantly.

The takeaway is to be frugal with your money no matter how much you are making even millions. I see nothing wrong with buying the finer things in life that you can clearly afford. At the same time, I encourage saving to cover several months of expenses in case your finances take a nose dive and the cash flow comes to a screeching halt. Frugal Rocks!

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