10-plus money-saving tips for the frugal freelancer!
My mother must have had a Master’s Degree in Money Management.
As a child, I hated it. At the supermarket checkout there was always some whiny kid in front of me, pointing at the strategically placed sweets.
“Mommy, I want a lollipop!” cried the boy.
The little brat was already digging into an open bag of greasy potato chips that had yet to be paid for.
“Mom, I want it now!”
As his mother was loading boxes of sugar-coated cereal onto the conveyor belt, the 3-year old monster turned up the volume to show the world who was in charge.
“Mom, give me that lollipop! You said I could have a lollipop!! I WANT IT!”
And sure enough, after thirty seconds of relentless begging, the little Prince’s wish was granted.
His mother turned to my Mom and said apologetically:
“What can you do? He’s just so adorable, isn’t he?”
“Why don’t you give him an apple?” my Mom suggested.
“Oh no, that wouldn’t work,” said the monster’s Mom. “I’ve tried that once. It was a disaster. “Connor isn’t really into fruit. He might be allergic.”
“Well,” said my Mom, “he seems to like strawberries” as she pointed to the lollipop sticking out of Connor’s mouth. But she had spoken too early.
“I hate this lollipop,” yelled the boy. “Give me a cherry one!”
As the appropriately named Dum Dum landed on the floor, I had only one wish: I wanted to trade my Mom in for Connor’s mother. My Mother never bought me any lollipops, or that colored cereal with a surprise toy in the box. And if I happened to be hungry, she gave me a carrot or a celery stick. Disgusting!
A few years later, we ran into Connor again at Toyland. Not much had changed, apart from the fact that he had put on a few pounds. He was the first six-year old with a double chin I’d ever seen.
“Mom, I want that race car!” he yelled.
Connor and I were both drooling over the same shiny Matchbox® model. It was a piece of perfection.
“Mom, I want it now!”
Connor’s presence somehow gave me the courage to ask my mother if she’d buy me the car.
“How much money have you saved so far?” asked my Mom.
This year I had started earning an allowance by doing small chores around the house.
“Fifty cents,” I replied.
“And how much is this car?”
“One guilder.”
“You get 20 cents per week, so if you really want this car, why don’t you save up for it?”
“Mom, I knew you would say that!”
“Of course,” said my Mom. “Now, let’s get your sister a birthday present.”
At the checkout, Connor had already taken his brand new car out of the box and was ready to destroy it.
His mother turned around and said:
“What can you do? He’s just so adorable, isn’t he?”
ACCOUNTABLE
The other day, I had a meeting with my accountant. He specializes in small businesses.
“Let me ask you a question,” he said when I came in.
“What’s the difference between a successful and a not so successful freelancer? If you had to boil it down to one thing, what would it be?”
“Well,” I said, “I can think of a few things. How about talent… connections… creativity?”
“Wrong,” said my accountant. “What do Jerry Lee Lewis, Tammy Wynette, Mickey Rooney and Lorraine Bracco have in common?”
“Brian,” I said, “You tell me. You’re the expert.”
He continued: “We’re talking about talented, well-connected and creative people. And at one point in their career, all of them had to file for bankruptcy.
Here’s my point, Paul: The difference between a successful and a not so successful freelancer lies in these two words: Money Management. And where does money management start?
“Well, Brian, isn’t that where you come in?”
“Wrong again. Money management starts between your ears! It’s about the difference between instant gratification and impulse control. Didn’t your mother teach you that? You see, there’s no secret formula to financial stability:
- Spend less than you earn
- Pay off your debt
- Invest, save and share
“That’s a great philosophy, Brian” I replied. “But you know as well as I do that it doesn’t work like that in the real world. The kids that have never heard the word “no” became adults driven by a sense of entitlement.
We might moan and groan about the economy, but all we really want is a big fat turkey for Thanksgiving and a big flat screen TV on Black Friday. People demand the latest and the greatest, if only to keep up with the Joneses.
If life gets hard, put it on a card.
After all: You’re worth it. That’s what this country is all about: prescription drug addiction, emotional eating and retail therapy.”
MODERATION NATION
“It feels good to vent, doesn’t it?” said Brian. “So, what’s your answer to the I consume, therefore I am mindset? Should we call off Black Friday and fire Santa?”
“How about moderation?” I said. “How about redefining what makes us happy? Happiness cannot be found in the ever-increasing accumulation of stuff. Isn’t life supposed to be about who you are and what you have to give; not about how much you have and can keep for yourself?
My Mom kept a tight rein on the budget, and at times I was jealous of some of my classmates who could literally be a kid in the candy store. She didn’t always give me what I wanted, but I always got what I needed. Thanks to her, I became a frugal freelancer. She taught me one of the most important lessons:
A rich life has nothing to do with an expensive lifestyle.
We never went to Disney World®. We hiked on nature trails instead, and for years I told the world I wanted to be a forester, protecting plants and animals. We rarely went out to dinner. Instead, my mother taught me how to make delicious, nutritious meals from scratch. Our kitchen never had a microwave in it, and somehow, we survived.
At the time I thought it was so unfair: all the kids in the neighborhood had a VCR. Meanwhile, it took years before we got our first color TV. But my best childhood memories are of the whole family sitting around the table playing board games. I paused for a moment…
Be honest, Brian: Am I getting old?”
“Definitely,” my accountant said with a smile. “But as your financial advisor, I like the way you’re thinking. Now, tell me again: what was that website you were talking about the other day?”
“It’s called Freecycle.org. Freecycle is a worldwide network of people who are giving and getting stuff for free in their towns. Not junk, but good stuff that would otherwise end up in landfills. A year ago, our stove decided it was time to retire and Freecycle came to the rescue.
Someone in the neighborhood was remodeling the kitchen and her practically new stove didn’t fit anymore. She put it on Freecycle and I picked it up. It didn’t cost me a penny. And if there’s stuff we have no use for, we put it on Freecycle too.
“Didn’t your TV set give up, last year?” asked Brian.
“You’re right, and guess how much I paid to replace it? Fourteen dollars and ninety-five cents. I found a TV at a local Goodwill store. The folks who dropped it off were going for one of these LCD-things. There’s nothing wrong with that old television. It’s just a bit… ginormous and you need five men to lift it. But the story gets even better…
Last month we cut the cable. I was getting tired of being forced to pay for all those networks we never watch. Cable companies are like a restaurant charging you for everything on the menu when you’re only eating a few items. Cutting cable alone saves us over $1300 a year. Now I can put that money into my new recording space.”
“Aren’t those prefab boxes expensive?” Brian wanted to know.
“You bet they are,” I said. “That’s why one of my friends is going to help me build a booth in the basement. And if we ever were to sell our home, the new owners will have the soundproof media room they always wanted.
SAVING GRACE
Spending money is just too easy. Saving money is a sport.
I spent hours and hours researching the web for the best materials and the best deals. I asked my social media friends for advice and I got quite an education. And at the end of the day, I believe that building something with my own bare hands is much more rewarding. I can also make sure that the materials I use are environmentally friendly.
I do the same thing when I am shopping for gear. Before buying brand new, I check out Sweetwater’s Trading Post, Craigslist and eBay first. A friend of mine just got a beautiful Blue Robbie preamp; retail price: $799. He picked it up for $500. It was barely a year old and the former owner had taken care of it as if it were his baby. My friend’s voice-over clients couldn’t hear the difference between brand new and “previously loved.” He recently bought a Mac Mini. Refurbished, same story.”
“Off course it’s not all about money,” said Brian. “My new-age therapist says that money is just an exchange of energy. She tells me I should move more. I spend my days behind a desk, staring at a screen. At the end of the day I just want to go home, be a slouch on the couch and… stare at a screen.”
“Do you know what you and I should do, Brian?” I said.
“What’s that?”
“I think both of us should become independently healthy.”
“Care for some carrots?” joked Brian.
“You’re funny! That’s what my Mom used to say.”
“Speaking of your Mom… how’s she doing?”
“She passed away on April 11, 2008.”
I took a deep breath.
“My Mother really knew how to stretch a guilder. When she died, most of her belongings went to families in need and she made it very clear that she didn’t want to be buried. She donated her organs and the rest of her body to science.
My Mom died on a Friday.
It was one of the darkest days of my life.
Not a day goes by, without me thinking of her, and wishing I could call that day off.”
SHORTLIST
Now, before we get all teary-eyed and sentimental, let’s end with something practical. Here’s my shortlist of tips for the Frugal Freelancer my mother would definitely approve of:
1. THINK of the WHY before you buy. Separate the needs from the wants. Ask questions such as:
- Is this something I simply would like to have, or do I absolutely need it NOW?
- What would happen if I don’t buy it?
- Can I afford it?
- Sleep on it (especially when buying mattresses). Build in a minimum waiting period for bigger purchases
2. DO YOUR HOMEWORK and use the internet for research and for finding deals
- Use shopbots such as www.froogle.com and www.thefind.com
- Use sites such as www.dealsucker.com, www.deepdiscount.com, and www.overstock.com
- Search www.allofcraigs.com and www.ebay.com
3. Invest in QUALITY that will last
- Remember: refurbished products are tested and certified and offer big savings. I bought my Apple Time Capsule refurbished and it is doing its job without any problems.
4. GO GREEN
- Pick products that are good for the planet
- Buy Energy Star products
- Go paperless and recycle
- Buy at a consignment or Goodwill store and use www.freecycle.org to get rid of good stuff you no longer need or to find things you’ve always wanted.
- Watch your favorite TV shows and movies on sites like www.hulu.com and www.netflix.com
6. BREW your own COFFEE and make your own MEALS
7. STAY HEALTHY
8. SELL YOUR SECOND CAR
9. REDISCOVER THE LIBRARY
10. BE ORGANIZED and keep track of your income and expenses
11. Add up all your savings and give at least 10% to a worthy cause, and
Live each day with an attitude of gratitude.
Paul Strikwerda ©nethervoice
PS Be sweet: please retweet.
Interested in spending less to get more out of life? The following sites offer a wealth of information and inspiration:
http://www.suddenlyfrugal.com
http://frugalliving.about.com
http://rowdykittens.com
http://zenhabits.net/106-money-saving-tips-for-a-frugal-lifestyle
Thank you Paul. One of your best yet.
DS
I salute you, Sig! Thanks for your soft, smooth and sandy words. In case you’re wondering what I’m referring to, check out David’s website:
http://www.davidsigmon.com
What an amazing testimony, Paul! Thank you for sharing about Brian and your mom.
I heard someone say recently “spend money on experiences, not stuff.” If you saw my tiny apartment in NJ, but listened to me talk about stuff I’ve done, that’s where the difference lies and I wouldn’t have it any other way! It doesn’t totally fit into your “frugal” lesson…but I’m working on that too. It’s a work in progress.
Happy Thanksgiving my talented European friend!
There are a few things people can’t take away from you:
– dignity
– integrity
– education
– experience
I was lucky enough to travel all over the world before I settled down in the United States. My memories from distant lands and welcoming people are priceless!
And as the Beatles said: “Money can’t buy you love!”
Thank you, Paul. My parents brought me up properly, too, for which I am grateful. They never had a credit card until it became a “requirement” (for ID, certain purchases, etc.) and never kept a balance. 2+ 2 always equalled 4, not 3 or 5 or “pay it off someday.” I’d resent that when I was a kid, but I learned my lessons, and they have stood me well. (If our country emplyed that kind of wisdom, we wouldn’t be in the mess we’re in, but that’s another comment entirely….)
By the way, my mother passed on 13 years ago, coincidentally on my birthday, but there isn’t a day when I don’t think of her and appreciate the wisdom that she and my father instilled in me. (Like most people, I went “off the rails” a few times in my life, but I knew where those rails were and how to get back on.)
PS to Trish, I frequently say, “Don’t buy stuff – buy experiences.” Stuff breaks, the results of experiences last. (And sometimes “stuff” is necessary for having the experiences, so you win twice!)
One commentator on a different platform argued that the consumerist economy of overspending and borrowing is a runaway train that is out of control. He said: “I don’t see anybody stopping this train.”
I get where he’s coming from, but I’m not jumping on board of his train… of thought. We don’t need anybody to stop this train he’s referring to. If we wait and see if someone else is willing to push on the brakes, we have reduced ourselves to passive observers and helpless victims. I think we can do better than that. Much better. But our best intentions are not going to move us forward. We need our best actions.
An accumulation of individual choices creates a trend. The financial decisions we make on a daily basis have a greater impact than the votes we cast every once in a while. These days, educated consumers vote with their wallets and they might very well change the course of an industrial empire. Why do you think so many companies have jumped on the “Green” bandwagon? Why are we seeing more and more organically produced products on the shelves? Why are we turning into a country of non-smokers?
@Paul: I like the notion that parents give us roots and wings. We fight with them, we challenge them and we run away from them. Most teachers will tell you that true change begins when we run into resistance. And at some point, we learn to appreciate the life lessons we learned from our elders.
It is sad that in our culture these elders are often ignored, disrespected and removed from the heart of our society. We think we know it all, and as a result, we keep on reinventing the same broken wheels of that same runaway train.
I would just like to comment on the remark about becoming a nation of non-smokers. I will try to do this without sounding like a smarta**. I am not going to become a non-smoker by choice. I have lost that right and freedom. Taken from me by everyone else who doesn’t smoke. The cigarettes are being taxed so much that I can’t really aford to buy them anymore. Then there is all of these “laws” getting passed telling me where I can and can’t smoke. In some places it is illegal to smoke in your own car. I had no problem with not smoking in the restuarants because I didn’t do that anyway out of respect for the customers who didn’t. But now in some places I am not allowed to smoke while walking down the street. I have just one last thing to say here about this and that is if truth be known the laws prohibiting me from smoking on the street or in my car are technically unconstitutional. Because you are not supposed to be able to infringe on the rights of others, you have a right to clean air, I have a right to smoke whether you like it or not. Obviously it is unhealthy, that is a no-brainer to me. But I like doing it, the act of smoking helps me relax and take the time to think about things before acting on them. Kept me out trouble more than once:) anyway, sorry for the length of this. I just mainly wanted to point out that the only reason the country is trending this way is because there are more people who don’t smoke then there is that do. But I wonder if all of the non-smokers have put any thought to how many people are employed buy the cigarette companies and what will happen to all of those people and thier families when the company can no longer afford to pay them and thier job gets cut.
other than that, good article.
Thanks for your honest response, Gene. Our body is the house we live in. We can replace a few parts here and there, but that’s it. We all make decisions as to how to best care for our house, and I’m certainly not going to lecture you on the dangers of (secondary) smoking.
I will say that I’ve always found the employment argument rather weak. Let’s assume that a company manufactures pure, deadly poison that has already killed millions of people. Should this company stay in business just so we don’t have to lay off their employees?
I was cheering you on, Paul, thinking that you might be almost as conservative and curmudgeonly as me…and then you went and ruined it with that sharing part. BAH-HUMBUG!
😉
Great post, Paul. It’s a damned shame that the people who should take your post to heart, won’t.
You’re funny, Steve! The more I find myself at the receiving end of it, the more I love your sense of humor!
Sometimes these posts end up being “Letters to Self”. I for one, should put into practice what I suggest others should do. You know… the whole ‘leading by example’ thing.
So, even if -as a result of my blog- ONE person makes a small change for the better, my efforts have been worthwhile.
Hey, I’m only attempting to lead horses to the water and if they’re not thirsty, forget about drinking…
Oh, Paul….!!!nice thoughts, unfortunately, I can’t relate.
In fact, I’m the opposite of a poster boy for what you espouse. I want what I want, and I want it now. I was never frugal…but I AM a pack-rat. (Not sure what a psychoanalyst would say about that.) I buy lots of stuff…never shop for deals, impulse buys!…never use coupons, almost-never look at price tags, BUT never throw away anything.
However, I’ve also saved for retirement and my daughters’ education, invested wisely, and don’t rack up the credit cards…always pay ’em off. My credit score is 825 out of a possible 850.
Both my parents grew up in the FIRST depression, and I was raised on a dirt farm…I guess frugality didn’t rub off.
I DO give generously from my plenty, though, so I’m not a total spoiled brat.
Aside from freecycle.org, please check out the site of a So. NV guy called freegoodee.com. Same concept.
Dave Courvoisier
Hi Dave, you’re a retailer’s dream and it must be wonderful to be able to reap the well-deserved rewards of all your hard work. I really mean that! You’re an example of someone who has put Brian’s three pillars of money management into practice and I commend you for that!
The economy is still in recovery, the cost of living is going up and voice-over rates are going down. Not every freelancer is in a position to do what you do, and that’s one reason why I wrote this story.
The other reason has to do with a desire to move toward a more sustainable economy that doesn’t deplete the limited resources this magnificent world has to offer.
We are poisoning our planet with waste, with war and by warming it up. Here’s the good news: it’s the result of human action and that means that we, the people, can stop it.
One of the ways of doing that is by becoming a critical consumer and by resisting the impulses the advertising industry wants us to act upon.
The next generations are going to judge the ethics of our actions, not by looking at how much stuff we were able to accumulate during our lifetime, but by how we left this planet we call home to them. Is it greener? Is it cleaner? Is it a safer place to be? Or are the seas empty and rising; are the ancient forests cut down and are unique species extinct?
Whether we realize it or not: we’re all connected as we’re sharing this one ecosystem that we’re privileged to borrow. We have a choice: do we take good care of it, or do we wreck the place?
Time is ticking and one day soon, I hope we’ll be celebrating GREEN Friday instead of BLACK Friday.
Hi Paul,
As usual, I for one appreciate your writings and this particular post offers up a solid, common sense approach to living. It’s funny that you should write this when you did, because about three months ago, I decided to rid myself of a lot of things I’ve had for some time, but also haven’t really used for almost as long. So naturally, I’m selling it off and someone else is getting good items to serve their needs at quite a savings. It helps me and I hope it helps them. Sure beats throwing it into the trash.
By the way, in regard to your ‘leading a horse to water’ reference, I look at it this way: “You can lead a horse to water, but if you can get him to float on his back, then you’ve got something!”
Have a good one (or two, it it’s really good).
It’s great to hear from you Cubby! Isn’t it amazing how much stuff we don’t need? Some people have a rule: when they buy something new, they have to get rid of something old they don’t use anymore. Instead of putting it in a landfill, they give it away on freecycle or donate it to Goodwill.
In the process of house cleaning, people discover that some “must haves” from the past were never or rarely used.
I’ve never seen a horse float on it’s back, but who knows… Let’s keep on rocking the boat!
Hi Paul—Wow…just what I needed to hear. Thanks. I stumbled onto your blog while trying to find background on Father Alphonse.
Adding you to my twitter feed now…
Gail in Jackson, NJ
Hi Gail, thanks for your kind comments. Isn’t it funny how Father Alphonse is bringing people together without even knowing it? I’ll be at his Christmas concert in Trenton tonight. Happy Holidays to you!
You took the words right out my mind and heart.
Love it Paul.
Best,
Lauren
The hearts of our minds must be waltzing together at the same beat, Lauren! Thanks for dancing.
•Spend less than you earn
•Pay off your debt
•Invest, save and share
I wish the federal government would listen to your mom.
Great post, Paul – have a great Thanksgiving!
Outstanding, Paul! This is very practical advice that everyone, not just freelancers, should sit up and take note of.
I’m not going to go into details here, but living below your means pulled me and my family out of the pit of despair. I cannot overstate that. So simple yet so hard to do in our microwave “I want it now” society. We now have no debt except our house and I make a decent living doing what I love to do from my home studio. Oh, and we still have 7 kids at home. They are learning. 🙂
If someone needs help with finances, there’s one name that will turn your world upside-down: Dave Ramsey. And everything you’ve mentioned here is right in line with the principles he shares.
Thanks for sharing this, Paul. I’ll be sharing this with my local meetup group!
Great blog, Paul. It’s great advice. I share your beliefs and have for a number of years. Today, I live with no debt (besides a mortgage) and only buy what I can afford and make do with what I have till I can afford. I quickly realized that I can’t attend every event or conference that is offered. And, I can’t buy every new technology that comes along. Sure, I’d love a Neuman, but will a Rode do for a while? It certainly will.
I made another choice several years ago. I researched computer software and decided that I was tired of costly updates every year or every time a company launched a new version. I embraced the Linux operating system and was impressed by the GNU standards. I eventually settled on Ubuntu which seemed to be the best of both worlds offering free and open source software along with a few proprietary drivers for compatibility. I switched five years ago and never turned back. There are a few limitations when it comes to DRM (Digital Restrictions Management) as Linux does not support DRM. But, I make do and don’t have the incremental expenses tied to the calendar or updates.
Back when I was a journalist, I interviewed an old country doctor. His family struggled through the depression of the 1930s. He shared with me a simple philosophy. It still has value today: “Use it up. Wear it out. Make it do or do without.”
Yes.