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Frugality isn’t about denial, it is about choices. Spending less in one area (say, clothing) allows you spend more in another (fine wine) . . .

Simple concept . . .

To my mind, that’s where patience comes in. No doubt some people are terribly sure at an early age about the whole scope of what they want. (I fear such people are likely to be disappointed by life no matter what advice they get–life is full of compromises, both budgetary and not.)

Instead, start asking which part seems most crucial? Living near Santa Barbara? Owning land? Working with horses? Participating in racing events? There are ways to do any of those things on a budget–volunteering on a ranch, for example, would let you work with horses while learning something about what owning a ranch might be like.

If you take the time to learn more, you might find that your first thoughts about exactly what you want to do have changed. Maybe, with due consideration, you’ll decide that you’d rather live in Kentucky. Maybe you’ll decide that goats are more interesting than horses. Maybe you’ll decide that working on someone else’s horse ranch in Santa Barbara is more fun than having the headache’s of ownership.

Maybe, if you take your time, you’ll be able to put together exactly what you want (if your investment portfolio happens to be way up right at the moment when Santa Barbara ranch land is way down–and a guy who trusts you with animals because you’ve worked together simply has to sell).

I’d like to have a private railroad car and use it to travel around the country. The fact that I haven’t managed to fit that into my budget doesn’t make me feel like I’m “constantly making compromises.” At least, not in a bad way.

Another category that I spend more on than most, is art. I only buy real art (some of which is cheaper street art, but still art from an artisan) and would rather have blank walls than prints.

As for wine and food, most of the time this is not a category that is very important to me (unless I’m on vacation) and therefore I don’t tend to spend a lot of money for the best wine and food.

Quality food is easy to find. First, don’t buy prepackaged. Organic can be good at times but not necessarily better depending on product (apples yes, oranges no).

I always have to tell my sister, a tall statuesque blond, you make the trends, don’t let others make it for you.

Sure, I could eat on a buck or two a day, and not buy anything unless it was on sale AND I had a coupon, but good, healthy food is just so much more satisfying. It’s all about balance! Moderation in everything — even moderation!

And no, one doesn’t have to spend a lot to live well. Since my husband and I have started focusing our energy and other resources on what we REALLY want, we’ve managed to turn around our finances. We’re finally headed in the right direction and still picking up speed.

The hard part is that once you’ve made up your own definition of what you think is a “rich life”, it’s not necessarily going to be any more affordable than the standard one. Sure, you could say that a big house and a fancy car and expensive vacations at tropical resorts aren’t your thing, and that’s fine if they’re not, but if you decide that “your thing” is owning a ranch outside Santa Barbara and raising horses to try and compete in the kentucky derby, well sure, it’s off the beaten path, but it’s hardly “on a budget”.

What do you do when what you really want still costs more than you can afford? Will you feel like you’re living a rich life if you’re constantly making compromises?

BTW, nice site redesign. Are you using the Thesis theme?

In the same way, I like wine a lot, but I’m dedicated enough to spend time reading up on different vintages or wineries. Instead, I chat now and then with a couple of wine fanciers that I know and ask them for recommendations. The side benefit is that the more I talk with them, the more they know about my particular tastes, and the better their recommendations get.

All for about $4. It makes a great sandwich if you put it on a baguette as well.

With a budget you then have the ability to make the proper decisions based on income and expense. This allows you to have the TV dinner when necessary and splurge on the bottle of wine for your Sunday picnic as well.

One area that seems to always gobble up the most money is alcohol! I wrote a blog regarding just that: http://www.twentysomethingsense.com/2009/05/how-much-do-you-spend-a-year-on-alcohol.html

Live Rich!

As I and many of my friends stepped out of Grad Schools, it was like everybody has started feigning ultimate luxuries (fat paychecks?) Initially I started to feel disquited but then having confidence in yourself is the only way to keep yourself going.

Oh, and I have read the book and it is fantastic. Be sure to pick one up!