What If You Had All The Money You Needed, Would You Still Be Frugal?

I know most of you folks are a lot like me, trying to get your finances all settled and in a row. Maybe you are trying to get rid of debt, or trying to live within your means, or maybe you are really like me and trying to find ways to earn extra money each month. So, let me ask you a question - what would you do if you didn't have to worry about money anymore? That was the subject of an interesting post I read over as BeingFrugal: Would You Stay Frugal if You Won the Lottery? And I read a similar idea, abet on a smaller scale, on FinanceYourLife: Gas Prices Are Going Down, Are You Driving More?

They are interesting things to think about, aren't they? For me, the gas question is easy. My answer: Nope. Yes, gas prices are going down, but I am not driving any more because of it. In fact, I still like sticking to my back roads roundabout way to work and I am still making a very concerted effort to drive slow. Why? Because $2.49, while certainly a relief, is not "cheap" to me. Call me old fashioned, but I am not going to think "cheap gas" until it gets under $2.00. Even then, I am not likely to sign up for a cross country road rally! Truthfully, I don't think this price dip is going to last very long anyway. My guess is that within a month it is going to be back up there. So, no - I won't be changing my driving habits any time soon, no matter what the cost of gas is.

But what about if I won the lotto? I would have to find a winning ticket laying on the ground, because I certainly don't buy them. Let's say I did that - I found a ticket in parking lot and it turned out to be the winner. Would I change my frugal ways? Maybe.

I'm going to be completely honest here. While I am enjoying being frugal and part of me thinks of it as a game (just how low can I get my electric bill anyway??) at the same time, I am a woman who knows how to shop. There are certain things I am doing now that I would be quick to change. For one thing, I haven't bought new clothes in ages. It's okay, I tend to buy classic pieces that will last me a long time, but I admit, I am getting a bit tired of my wardrobe. I would also throw my dining out budget right out the window - along with my grocery budget. In fact, as someone who loves to cook and love to eat, those would probably be the first things to go - even before clothes. I really miss being able to stop at a favorite restaurant on a whim. Sure, I have a dining out budget but I only like to use that with friends now. That is one of the few flexible areas of my budget so currently I hesitate to use it unless it is for a "good" reason. In the "good old days" I would eat out whenever I felt the craving, now I pretty much save it for a special night out. Same thing with cooking - I used to plan my menu around what I wanted to make, now I plan it on what I already have in the house and what is on sale. I'm still eating really well, but I don't have the freedom I once did.

Of course those are relatively small expenditures. I would also love to give to some friends and non-profit organizations that I feel strongly about. And naturally, I would love to travel!

However, I would like to think that some of frugal plans would stay in place. I would fund my emergency fund and invest the greater portion of the money. I would keep looking for good deals and using coupons, that stuff is just in my blood. I would like to think that the lessons I have learned as I have struggled financially would not completely fly out the window, that even if the money was there, I still keep buying cfls!

What about you? What would you do?



Photo by: Rockers Generation