Ever have a leaky faucet? That drip-drip-drip did more than annoy you — it wasted money. Sure, each drop seemed pretty small. But a drop each second adds up to more than 3,000 gallons per year, or enough water to take 180 showers. That’s money going down the drain. Continue reading
By Dr. Penny Pincher, WiseBread
Frugal people who pay off their debt and achieve financial independence don’t succeed by accident. They establish habits that allow them to consistently reach their goals over the long haul.
During the past few years as a personal finance blogger and author, I have noticed that the most successful frugal people tend to follow a common set of habits. These same habits remind me of the traits that Stephen Covey detailed in his popular 1989 book, The 7 Habits of Highly Effective People. For this article, I kept the original seven habits, but updated them for achieving financial independence today.
What are the seven habits that allow some people to excel at being frugal? Continue reading