The basics for Frugaloopers

Now, I am no investment banker or fincial advisor or priest. All the things I write about are just my thoughts I like to share. I started out writing about how to find deals and the best way to be frugal and I thought I better get some basics down first. Nothing I will say is new or has not been said before, but I think it might help to get in one place.

You should have 3 things in place in your life. You should have your finances in order, you should have a purpose and you should have a faith life. Maybe not in the order 🙂

The finances in order has millions of books written about it but I will give you the 7 things you must do:

  1. You should be saving no matter how much it is. It needs to be something and it should grow each year.
  2. You should have an emergency fund that covers your living expenses for a minimum of 3 months.
  3. You should have proper insurance in place: Health, Auto, home and Umbrella policy
  4. You should not be living beyond your means
  5. Invest your money in index funds – SP 500 is wonderful
  6. No matter how good a deal something is, if you do not have the money it is not a deal!
  7. Charity is key


Money is just a means to and end. What do you want to do with your life? Sit down have goals, 3 month, 1 year, 5 years, 10 years. Write them down and keep them updated. Goals are not in concrete but more writings in the sand that could change at any minute. Do you want to travel, play an instrument, start a business, have a huge family, live on the ocean….


I think some people will say what does Faith have to do with this, to me it has everything. It is the basis point for everything I do. If you have no basis point then how do you know where and what you are doing is correct.

Ok, this is a little deep but I wanted to throw it out there, so you know how I approach things.

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  • R

    Wonderful advice! Keep it coming

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